Wallace Trust Foundation

Foundation · Grantmaker McGehee, AR EIN: 71-0754251

Wallace Trust Foundation is a private foundation focused on Education, based in McGehee, AR. IRS filing data is available from 2020 through 2022. In 2022, it awarded 6 grants totaling $12K.

Key facts about Wallace Trust Foundation

EIN: 71-0754251
Latest 990 filing: Form 990-PF, 2022
Annual giving (2022): $11,750
Grants made (2022): 6
Average grant: $1,958
Median grant: $750
Primary geography: Arkansas (100% of itemized 2022 grant dollars)

Data from IRS Form 990-PF, 2022; updated September 2026.

Who Wallace Trust Foundation funds

By grant dollars, the top recipient states for Wallace Trust Foundation's 6 itemized 2022 grants were Arkansas (100%). The most frequent recipient cities were McGehee, AR (6 grants). None of its 6 grants with a stated purpose were described as general or operating support. Recurring purposes include "Charity" (6 grants).

How Wallace Trust Foundation gives

In 2022 it paid out 120% of its IRS minimum distribution (the 5% rule). Method

From the foundation's IRS Form 990-PF filings. Methodology.

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Financial Overview

From 2022 IRS Form 990-PF · View filing

Total Assets

—

-100.0% YoY

Annual Giving

$12K

-96.0% YoY

Grant Count

-66.7% YoY

Avg Grant Size

$2K

-88.0% YoY

Under IRS private-foundation payout rules, Wallace Trust Foundation reported a distributable amount of $10K for 2022 — the minimum it must pay out in qualifying distributions.

About Wallace Trust Foundation

Based on IRS filings

Wallace Trust Foundation is a private foundation focused on Education, based in McGehee, AR. IRS filing data is available from 2020 through 2022. In 2022, it awarded 6 grants totaling $12K.

Focus Areas

Education

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Geographic Focus

Where this funder awards grants

Grant Distribution by State

Arkansas $12K (100%)

Share of all 6 itemized 2022 grant dollars.

States

Arkansas Massachusetts

Cities

McgeheeMonticelloTillarCambridgeLittle Rock

Financial History

Multi-year comparison from IRS filings

Revenue

Expenses

Qualifying Distributions

Net Investment Income

Metric	2022	2021	2020
Total Assets	—	$250,841	$250,100
Revenue	$11,283	$295,944	$287,951
Expenses	$12,124	$295,203	$287,951
Qualifying Distributions	$11,750	$293,474	—
Net Investment Income	—	—	—
Distributable Amount	$9,783	—	—

Data update history

When this profile's IRS filing data changed on Grantable

March 1, 2026 IRS filings on file for fiscal years 2020–2022

Giving Over Time

Total grant dollars and number of grants per year

Grant Insights

How this funder distributes its grants

Top Recipients

Top 6 recipients in 2022

Grant Size Distribution

39 grants across all recorded years

Giving History

Grant recipients and amounts by year

Among its reported 2022 grants, the largest recipients include City of McGehee-Police vests ($7,500), City of McGehee-Parks Rec ($2,000), Friends of McGehee Branch Library ($1,000).

Recipient	Purpose	Amount
City of McGehee-Police vests McGehee, AR	Charity	$7,500
City of McGehee-Parks Rec McGehee, AR	Charity	$2,000
Friends of McGehee Branch Library McGehee, AR	Charity	$1,000
South McGehee Hwy 65 Cemetary Maint McGehee, AR	Charity	$500
Safe Prom McGehee, AR	Charity	$500
Johnny Polite Memorial Foundation McGehee, AR	Charity	$250

Leadership & Key People

Officers and directors from IRS filings

Compensation Overview

No officer or director reported compensation in the available filings.

From 2022 IRS filing

Name	Title	Hours	Compensation
Gibbs Ferguson	Trustee	1	—
Robert Lucky	Trustee	0.25	—
James R Daniels	Trustee	0.25	—

Subject Areas

Focus areas based on grantmaking activity

Education

Frequently Asked Questions

What is Wallace Trust Foundation?

Wallace Trust Foundation is a private foundation focused on Education, based in McGehee, AR. It holds — in total assets as of 2022.

Where does Wallace Trust Foundation operate?

Wallace Trust Foundation has awarded grants in Arkansas, Massachusetts.

What size grants does Wallace Trust Foundation award?

In 2022, Wallace Trust Foundation awarded 6 grants totaling $12K — an average of about $2K per grant, based on its IRS Form 990 filings.

How much is Wallace Trust Foundation required to give away each year?

Private foundations must generally distribute about 5% of their assets annually. For 2022, Wallace Trust Foundation reported a distributable amount of $10K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.