Wallace Fam Foundation
EIN: 586343201 · Greenville, SC · NTEE: T90Z
| Metric | Value |
|---|---|
| Total Revenue | $463K |
| Total Expenses | $159K |
| Net Assets | $1.4M |
Is Wallace Fam Foundation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Wallace Fam Foundation
Wallace Fam Foundation (EIN: 586343201) is a nonprofit organization based in Greenville, SC, classified under NTEE code T90Z. The organization reported total revenue of $463K and total assets of $1.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wallace Fam Foundation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Wallace Fam Foundation is a small nonprofit that has been operating for 28 years, with 9 years of IRS 990 filings on record (2011–2022). Revenue has grown at a compound annual rate of 1.7%.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
| Total Revenue | $81K |
| Total Expenses | $159K |
| Surplus / Deficit | $-77,959 |
| Total Assets | $1.4M |
| Total Liabilities | $1 |
| Net Assets | $1.4M |
| Operating Margin | -95.9% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 102.9 months |
Financial Health Grade: B
In 2022, Wallace Fam Foundation reported a deficit of $78K with expenses exceeding revenue, holds 102.9 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 9 years of filings (2011–2022), Wallace Fam Foundation's revenue has grown at a compound annual growth rate (CAGR) of 1.7%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2022 | -68.1% | +53.2% | -5.5% |
| 2021 | +286.4% | +53.8% | +11.6% |
| 2020 | -54.4% | -11.9% | -0.1% |
| 2019 | +29.8% | -10.0% | +4.9% |
| 2015 | -19.2% | -24.3% | +2.2% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1998 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Wallace Fam Foundation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Wallace Fam Foundation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2022)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $78K, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Frequently Asked Questions about Wallace Fam Foundation
Is Wallace Fam Foundation a legitimate charity?
Based on AI analysis of IRS 990 filings, Wallace Fam Foundation (EIN: 586343201) insufficient data. 0 red flags identified, 0 strengths noted.
How does Wallace Fam Foundation spend its money?
Detailed spending breakdown data is not yet available for Wallace Fam Foundation. Check back for updated IRS 990 analysis.
Are donations to Wallace Fam Foundation tax-deductible?
Wallace Fam Foundation is registered as a tax-exempt nonprofit (EIN: 586343201). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Where is Wallace Fam Foundation located?
Wallace Fam Foundation is headquartered in Greenville, South Carolina and files with the IRS under EIN 586343201. It is classified under NTEE code T90Z.
How many years of IRS 990 filings does Wallace Fam Foundation have?
Wallace Fam Foundation has 9 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 $463K in total revenue.
Filing History
IRS 990 filing history for Wallace Fam Foundation showing financial trends over 9 years of public records:
Over 9 years of IRS 990 filings (2011–2022), Wallace Fam Foundation's revenue has grown by 20.3%, moving from $68K to $81K. Total assets increased by 21.5% over the same period, from $1.1M to $1.4M. Total functional expenses rose by 91.7%, from $83K to $159K. In its most recent filing year (2022), Wallace Fam Foundation reported a deficit of $78K, with expenses exceeding revenue. The organization holds $1 in liabilities against $1.4M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $1.4M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2022 | $81K | $159K | $1.4M | $1 | — | — |
| 2021 | $255K | $104K | $1.4M | $2K | — | — |
| 2020 | $66K | $68K | $1.3M | $1 | — | View 990 |
| 2019 | $145K | $77K | $1.3M | $2K | — | View 990 |
| 2015 | $112K | $85K | $1.2M | $1 | — | View 990 |
| 2014 | $138K | $113K | $1.2M | $1 | — | View 990 |
| 2013 | $136K | $87K | $1.2M | $0 | — | View 990 |
| 2012 | $91K | $81K | $1.1M | $0 | — | View 990 |
| 2011 | $68K | $83K | $1.1M | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2022: Revenue of $81K, expenses of $159K, and assets of $1.4M (revenue -68.1% year-over-year).
- 2021: Revenue of $255K, expenses of $104K, and assets of $1.4M (revenue +286.4% year-over-year).
- 2020: Revenue of $66K, expenses of $68K, and assets of $1.3M (revenue -54.4% year-over-year).
- 2019: Revenue of $145K, expenses of $77K, and assets of $1.3M (revenue +29.8% year-over-year).
- 2015: Revenue of $112K, expenses of $85K, and assets of $1.2M (revenue -19.2% year-over-year).
- 2014: Revenue of $138K, expenses of $113K, and assets of $1.2M (revenue +1.6% year-over-year).
- 2013: Revenue of $136K, expenses of $87K, and assets of $1.2M (revenue +48.6% year-over-year).
- 2012: Revenue of $91K, expenses of $81K, and assets of $1.1M (revenue +35.3% year-over-year).
- 2011: Revenue of $68K, expenses of $83K, and assets of $1.1M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Wallace Fam Foundation:
Data Sources and Methodology
This transparency report for Wallace Fam 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.