Wallace Research Foundation
The Wallace Research Foundation is a private grantmaking foundation established in 1996 in Cedar Rapids, Iowa. The foundation emerged from the 1996 split of the Wallace Genetic Foundation, which was founded in 1959 by Henry A. Wallace—a former U.S. Vice President (1941-1945), Secretary of Agriculture, and founder of Pioneer Hi-Bred Corn Company. Three trustees of the original Wallace Genetic Foundation amicably divided it into three separate entities to pursue diverse grantmaking interests: the Wallace Genetic Foundation, Wallace Global Fund, and Wallace Research Foundation.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$4.4M
-0.1% YoY
Grant Count
34
+6.3% YoY
Avg Grant Size
$130K
-5.9% YoY
Mission & Focus Areas
The foundation's mission is giving primarily for education, the environment, and medical research. The foundation focuses on supporting research and programs across three primary areas:
- Education
- Environment
- Medical Research (including treatment of major depressive disorders)
Recent grantmaking also reflects support for climate action and conservation initiatives.
Grantmaking
No publicly available information regarding application procedures or decision timelines.
Grant Range
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How to Apply
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Geographic Focus
Where this funder awards grants
The foundation has national (U.S.) grantmaking focus with some emphasis on Linn County, Iowa. Recent grants have supported organizations in Arizona, Massachusetts, California, and other states.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of 2023:
- Total Assets: $69,897,282
- Total Revenues: $4,807,432
- Total Expenses: $5,085,466
- Investment Income and Dividends: $1,896,292
As of 2024:
- Total Assets: $75,358,410
- Total Giving: $4,435,901
The foundation has no employees and no liabilities.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
185 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Trustees:
- Henry Wallace
- Linda Wallace-Gray
- Angus Gilchrist
- Alex Gilchrist
Administrative Contact: c/o RSM US LLP, Attn: Shawna Huls, 201 First St SE, Ste 800, Cedar Rapids, IA 52401 Phone: (319) 298-5333
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| HENRY D WALLACE | PRESIDENT | 5 | — |
| LINDA WALLACE-GRAY | VICE PRESIDENT | 20 | — |
| MARSHALL GILCHRIST | DIRECTOR & SECRETARY | 2 | — |
| ALEX GILCHRIST | TREASURER | 2 | — |
Recent News & Activity
Recent developments and announcements
The foundation has recently decided to spend down its entire endowment, with a significant portion supporting the Wallace Centers of Iowa and other legacy organizations.
The Wallace Foundation Awards nearly $3M in Research Grants to 11 Arts andSubject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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