The Wallace Foundation
The Wallace Foundation maintains robust assets and reports no officer compensation, despite fluctuating annual revenues and expenses.
EIN: 136183757 · New York, NY · NTEE: T20 · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $702.7M |
| Total Expenses | $89.6M |
| Program Spending | 90% |
| Net Assets | $1.7B |
| Transparency Score | 92/100 |
Is The Wallace Foundation Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
The Wallace Foundation directs 90% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About The Wallace Foundation
The Wallace Foundation (EIN: 136183757) is a nonprofit organization based in New York, NY, classified under NTEE code T20. The organization reported total revenue of $702.7M and total assets of $1.8B according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of The Wallace Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
The Wallace Foundation is a major nonprofit that has been operating for 61 years, with 10 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of -3.3%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $57.3M |
| Total Expenses | $89.6M |
| Surplus / Deficit | $-32,275,872 |
| Total Assets | $1.7B |
| Total Liabilities | $31.4M |
| Net Assets | $1.7B |
| Operating Margin | -56.3% |
| Debt-to-Asset Ratio | 1.8% |
| Months of Reserves | 228.6 months |
Financial Health Grade: B
In 2023, The Wallace Foundation reported a deficit of $32.3M with expenses exceeding revenue, holds 228.6 months of operating reserves (strong position), has a debt-to-asset ratio of 1.8% (very low leverage).
Financial Trends
Over 10 years of filings (2011–2023), The Wallace Foundation's revenue has declined at a compound annual growth rate (CAGR) of -3.3%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | -56.8% | -20.5% | +2.2% |
| 2022 | -4.5% | +67.9% | -18.3% |
| 2021 | +21.2% | -8.7% | +12.5% |
| 2020 | +47.8% | +0.6% | +11.1% |
| 2019 | -7.3% | -13.5% | +12.7% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1965 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates The Wallace Foundation with a Mission Score of 92 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 7%
- programs: 90%
- fundraising: 3%
According to IRS 990 filings, The Wallace Foundation allocates its expenses as follows: admin: 7%, programs: 90%, fundraising: 3%. With 90% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $32.3M, with expenses exceeding revenue.
- Debt-to-asset ratio: 1.8%.
Executive Compensation Analysis
The Wallace Foundation consistently reports 0% officer compensation across all available filings, indicating that no compensation is paid to officers, directors, trustees, or key employees, which is highly unusual for an organization of its size and asset base. This suggests a unique operational model or that compensation is reported under different categories not captured by 'Officer Comp' percentage, or that leadership is uncompensated.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of The Wallace Foundation's IRS 990 filings:
- Unusually low reported expenses relative to assets in some years (e.g., $67M expenses vs $2B assets in 2021), which might indicate significant asset growth from investments not fully reflected in 'revenue' or conservative spending relative to endowment size.
- Significant year-over-year fluctuations in revenue (e.g., $132M in 2022 to $57M in 2023) could indicate reliance on volatile investment returns, though common for foundations.
Strengths
The following positive indicators were identified for The Wallace Foundation:
- Consistently reports 0% officer compensation, indicating high efficiency and dedication to mission.
- Maintains a very strong asset base, consistently over $1.3 billion, providing long-term financial stability.
- Low liabilities relative to assets, demonstrating strong financial health and minimal debt.
- Consistent history of IRS 990 filings, indicating good transparency.
- Substantial capacity for programmatic spending given its large endowment.
Frequently Asked Questions about The Wallace Foundation
Is The Wallace Foundation a legitimate charity?
The Wallace Foundation (EIN: 136183757) is a registered tax-exempt nonprofit based in New York. Our AI analysis gives it a Mission Score of 92/100. It has 10 years of IRS 990 filings on record. Total revenue: $702.7M. 2 red flags identified. 5 strengths noted. Financial health grade: B.
How does The Wallace Foundation spend its money?
The Wallace Foundation directs 90% of its spending to programs and services. Fundraising costs 3%. This exceeds the 65% industry benchmark.
Are donations to The Wallace Foundation tax-deductible?
The Wallace Foundation is registered as a tax-exempt nonprofit (EIN: 136183757). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of The Wallace Foundation's spending goes to programs?
The Wallace Foundation directs 90% to programs, 3% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
How does The Wallace Foundation compare to similar nonprofits?
With a transparency score of 92/100 (Excellent), The Wallace Foundation is above average for NTEE category T20 nonprofits. The score reflects financial transparency, program spending efficiency, and governance quality based on IRS 990 data.
Where is The Wallace Foundation located?
The Wallace Foundation is headquartered in New York, New York and files with the IRS under EIN 136183757. It is classified under NTEE code T20.
How many years of IRS 990 filings does The Wallace Foundation have?
The Wallace Foundation has 10 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $702.7M in total revenue.
Is The Wallace Foundation a good charity?
Based on the provided data, The Wallace Foundation appears to be a very good charity. It maintains substantial assets ($1.7 billion in 2023), consistently spends on its programs (e.g., $89.5 million in expenses in 2023), and notably reports 0% officer compensation, indicating high efficiency and a strong commitment to its mission.
How does The Wallace Foundation manage its executive compensation?
The Wallace Foundation reports 0% officer compensation across all ten available IRS 990 filings. This is an exceptional finding for an organization of its scale and suggests either a volunteer leadership model or that compensation for key personnel is structured in a way that it is not categorized under 'Officer Comp' in the provided summary.
What is the trend in The Wallace Foundation's assets?
The Wallace Foundation's assets have shown consistent growth over the past decade, increasing from $1.3 billion in 2011 to $1.7 billion in 2023, with a peak of over $2 billion in 2021. This indicates strong financial stewardship and a robust endowment.
How volatile is The Wallace Foundation's revenue?
The Wallace Foundation's revenue is quite volatile, ranging from a low of $54.4 million in 2012 to a high of $138.8 million in 2021, and $57.2 million in 2023. This fluctuation is typical for foundations whose revenue is heavily influenced by investment performance.
Does The Wallace Foundation have significant liabilities?
Compared to its substantial assets, The Wallace Foundation's liabilities are relatively low. For example, in 2023, liabilities were $31.3 million against assets of $1.7 billion, indicating a very strong financial position with minimal debt burden.
Filing History
IRS 990 filing history for The Wallace Foundation showing financial trends over 10 years of public records:
Over 10 years of IRS 990 filings (2011–2023), The Wallace Foundation's revenue has declined by 33.4%, moving from $86.1M to $57.3M. Total assets increased by 28.5% over the same period, from $1.3B to $1.7B. Total functional expenses rose by 11.3%, from $80.5M to $89.6M. In its most recent filing year (2023), The Wallace Foundation reported a deficit of $32.3M, with expenses exceeding revenue. The organization holds $31.4M in liabilities against $1.7B in assets (debt-to-asset ratio: 1.8%), resulting in net assets of $1.7B.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $57.3M | $89.6M | $1.7B | $31.4M | — | View 990 |
| 2022 | $132.6M | $112.7M | $1.7B | $57.4M | — | View 990 |
| 2021 | $138.8M | $67.1M | $2.0B | $23.8M | — | View 990 |
| 2020 | $114.5M | $73.6M | $1.8B | $28.3M | — | View 990 |
| 2019 | $77.5M | $73.1M | $1.6B | $36.1M | — | View 990 |
| 2015 | $83.6M | $84.6M | $1.5B | $23.5M | — | View 990 |
| 2014 | $72.3M | $76.7M | $1.5B | $19.4M | — | View 990 |
| 2013 | $131.3M | $81.1M | $1.5B | $28.7M | — | View 990 |
| 2012 | $54.4M | $81.0M | $1.4B | $25.6M | — | View 990 |
| 2011 | $86.1M | $80.5M | $1.3B | $20.0M | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $57.3M, expenses of $89.6M, and assets of $1.7B (revenue -56.8% year-over-year).
- 2022: Revenue of $132.6M, expenses of $112.7M, and assets of $1.7B (revenue -4.5% year-over-year).
- 2021: Revenue of $138.8M, expenses of $67.1M, and assets of $2.0B (revenue +21.2% year-over-year).
- 2020: Revenue of $114.5M, expenses of $73.6M, and assets of $1.8B (revenue +47.8% year-over-year).
- 2019: Revenue of $77.5M, expenses of $73.1M, and assets of $1.6B (revenue -7.3% year-over-year).
- 2015: Revenue of $83.6M, expenses of $84.6M, and assets of $1.5B (revenue +15.6% year-over-year).
- 2014: Revenue of $72.3M, expenses of $76.7M, and assets of $1.5B (revenue -44.9% year-over-year).
- 2013: Revenue of $131.3M, expenses of $81.1M, and assets of $1.5B (revenue +141.3% year-over-year).
- 2012: Revenue of $54.4M, expenses of $81.0M, and assets of $1.4B (revenue -36.8% year-over-year).
- 2011: Revenue of $86.1M, expenses of $80.5M, and assets of $1.3B.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for The Wallace Foundation:
Data Sources and Methodology
This transparency report for The Wallace Foundation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.