Wallace Foundation
Wallace Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Wall, NJ. IRS filing data is available from 2019 through 2025. As of 2025, the organization holds $2.5M in total assets. In 2025, it awarded 8 grants totaling $341K. Net investment income was $187K.
Key facts about Wallace Foundation
In short: Wallace Foundation gave $341K across 8 grants in 2025 (avg $43K), mostly in New Jersey. Source: 2025 IRS Form 990-PF.
- EIN
- 57-6210279
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $341,000
- Grants made (2025)
- 8
- Average grant
- $42,625
- Median grant
- $35,000
- Total assets
- $2,476,528
- Primary geography
- New Jersey (66% of itemized 2025 grant dollars)
Data from IRS Form 990-PF, 2025; updated September 2026.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$2.5M
-6.4% YoY
Annual Giving
$341K
+91.6% YoY
Grant Count
8
-27.3% YoY
Avg Grant Size
$43K
+163.4% YoY
Under IRS private-foundation payout rules, Wallace Foundation reported a distributable amount of $196K for 2025 — the minimum it must pay out in qualifying distributions.
How Wallace Foundation gives
- Giving grew 93% from 2022 to 2025. Method
- In 2025 it paid out 181% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
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Geographic Focus
Where this funder awards grants
Grant Distribution by State
Share of all 8 itemized 2025 grant dollars.
Cities
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 8 recipients in 2025
Grant Size Distribution
42 grants across all recorded years
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| NJ HIGHLANDS COALITION Boonton, NJ | CHARITABLE PURPOSE | $100,000 |
| UNITED METHODIST CHURCH Morristown, NJ | CHARITABLE PURPOSE | $75,000 |
| FEEDING AMERICA Washington, DC | CHARITABLE PURPOSE | $63,000 |
| CONVENANT HOUSE Topeka, KS | CHARITABLE PURPOSE | $35,000 |
| GREAT SWAMP WATERSHED New Vernon, NJ | CHARITABLE PURPOSE | $35,000 |
| ASSOCIATION OF NEW JERSEY Mendham, NJ | CHARITABLE PURPOSE | $15,000 |
| OXFAM AMERICA Boston, MA | CHARITABLE PURPOSE | $13,000 |
| LOS ANGELES REGIONAL FOOD BANK Los Angeles, CA | CHARITABLE PURPOSE | $5,000 |
Financial History
Multi-year comparison from IRS filings
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $2,476,528 | $2,646,593 | $2,626,984 |
| Revenue | $224,110 | $243,986 | $169,645 |
| Expenses | $394,667 | $225,012 | $274,868 |
| Qualifying Distributions | $353,853 | $186,004 | $238,455 |
| Net Investment Income | $187,146 | $205,634 | $134,412 |
| Distributable Amount | $196,024 | $192,166 | $170,865 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS May 11, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 10, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 12, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 11, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 7, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS May 11, 2025)
- Updated Form 990-PF for fiscal year 2025 (received by the IRS April 28, 2026)
- Added Form 990-PF for fiscal year 2019 (received by the IRS May 11, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS May 10, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS May 12, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS May 11, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS May 7, 2024)
Leadership & Key People
Officers and directors from IRS filings
Wallace Foundation is led by Robert Lee Wallace, Co-Trustee since 2023 (on filings since 2019) — the only officer listed, and compensated.
Officers on the 2025 filing
Robert Lee Wallace
Co-Trustee
Trustee → Co-Trustee, 2023
On filings since 2019
1 hr/week
$5K (2019) → $5K (2025)
Former officers (1)
- Former: Garden State Trust Company (2019–2022) — Trustee
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
Frequently asked questions about Wallace Foundation
How much does Wallace Foundation give each year?
Wallace Foundation gave $341K across 8 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $178K across 11 grants.
What is Wallace Foundation's typical grant size?
Wallace Foundation's median grant in 2025 was $35,000, and its average grant was $42,625, across 8 grants on its 2025 IRS Form 990-PF.
Where does Wallace Foundation give grants?
Wallace Foundation gives mostly in New Jersey: 66% of the grant dollars itemized on its 2025 IRS Form 990-PF went to recipients there. The next largest states were District of Columbia (18%) and Kansas (10%).
Who are Wallace Foundation's largest grantees?
Wallace Foundation's largest 2025 grantees include NJ Highlands Coalition ($100,000), United Methodist Church ($75,000) and Feeding America ($63,000), according to its 2025 IRS Form 990-PF. Together they received 70% of its itemized 2025 grant dollars.
How large is Wallace Foundation?
Wallace Foundation reported $2.5M in total assets on its 2025 IRS Form 990-PF. It paid out $354K in qualifying distributions that year, against a required minimum of $196K (roughly 5% of its investment assets).
What is Wallace Foundation?
Wallace Foundation is a private foundation focused on Philanthropy, Voluntarism & Grantmaking, based in Wall, NJ. It holds $2.5M in total assets as of 2025.
What is Wallace Foundation's EIN?
Wallace Foundation's EIN (Employer Identification Number) is 57-6210279. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated September 2026. Sourced from IRS Form 990-PF filings.
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