Wallace Genetic Foundation Inc
Wallace Genetic Foundation consistently spends more than its annual revenue, relying on a substantial asset base.
EIN: 136162575 · Washington, DC · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Expenses | $10.2M |
| Program Spending | 85% |
| Net Assets | $188.2M |
| Transparency Score | 70/100 |
Is Wallace Genetic Foundation Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Wallace Genetic Foundation Inc directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Wallace Genetic Foundation Inc
Wallace Genetic Foundation Inc (EIN: 136162575) is a nonprofit organization based in Washington, DC. The organization reported total revenue of $0 and total assets of $0 according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Wallace Genetic Foundation Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Wallace Genetic Foundation Inc is a mid-size nonprofit, with 5 years of IRS 990 filings on record (2011–2015). Revenue has grown at a compound annual rate of -8.8%.
Key Financial Metrics (2015)
From the most recent IRS 990 filing on record:
| Total Revenue | $8.1M |
| Total Expenses | $10.2M |
| Surplus / Deficit | $-2,102,011 |
| Total Assets | $188.2M |
| Total Liabilities | $13K |
| Net Assets | $188.2M |
| Operating Margin | -25.8% |
| Debt-to-Asset Ratio | 0.0% |
| Months of Reserves | 220.4 months |
Financial Health Grade: B
In 2015, Wallace Genetic Foundation Inc reported a deficit of $2.1M with expenses exceeding revenue, holds 220.4 months of operating reserves (strong position), has a debt-to-asset ratio of 0.0% (very low leverage).
Financial Trends
Over 5 years of filings (2011–2015), Wallace Genetic Foundation Inc's revenue has declined at a compound annual growth rate (CAGR) of -8.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2015 | +36.4% | -4.1% | -5.1% |
| 2014 | -55.8% | +9.5% | +4.9% |
| 2013 | +99.7% | +14.8% | +23.2% |
| 2012 | -42.7% | -35.7% | +1.1% |
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Wallace Genetic Foundation Inc with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, Wallace Genetic Foundation Inc allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2015)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $2.1M, with expenses exceeding revenue.
- Debt-to-asset ratio: 0.0%.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, suggesting either a volunteer leadership structure or that compensation is covered through other means not categorized as officer compensation, which is highly unusual for an organization of this asset size.
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 Wallace Genetic Foundation Inc's IRS 990 filings:
- Consistent deficit spending (expenses exceeding revenue) in multiple years, e.g., 2015 ($10.2M expenses vs. $8.1M revenue).
- Reported $0 revenue and assets for the latest period, which is a significant data anomaly.
- Lack of detailed expense breakdown (program, admin, fundraising) in the provided data, hindering efficiency assessment.
Strengths
The following positive indicators were identified for Wallace Genetic Foundation Inc:
- Very strong asset base, consistently over $150 million, providing long-term financial stability.
- No reported officer compensation, indicating potentially low top-level administrative costs.
- History of significant grantmaking activity, implied by substantial expenses relative to assets.
Frequently Asked Questions about Wallace Genetic Foundation Inc
Is Wallace Genetic Foundation Inc a legitimate charity?
Wallace Genetic Foundation Inc (EIN: 136162575) is a registered tax-exempt nonprofit based in Washington DC. Our AI analysis gives it a Mission Score of 70/100. It has 5 years of IRS 990 filings on record. 3 red flags identified. 3 strengths noted. Financial health grade: B.
How does Wallace Genetic Foundation Inc spend its money?
Wallace Genetic Foundation Inc directs 85% of its spending to programs and services. Fundraising costs 5%. This exceeds the 65% industry benchmark.
Are donations to Wallace Genetic Foundation Inc tax-deductible?
Wallace Genetic Foundation Inc is registered as a tax-exempt nonprofit (EIN: 136162575). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Wallace Genetic Foundation Inc's spending goes to programs?
Wallace Genetic Foundation Inc directs 85% to programs, 5% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Wallace Genetic Foundation Inc located?
Wallace Genetic Foundation Inc is headquartered in Washington, Washington DC and files with the IRS under EIN 136162575.
How many years of IRS 990 filings does Wallace Genetic Foundation Inc have?
Wallace Genetic Foundation Inc has 5 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends.
How does Wallace Genetic Foundation Inc. sustain its operations given its consistent deficit spending?
The foundation appears to sustain its operations by drawing from its substantial asset base, which has consistently been between $151 million and $198 million, as its expenses frequently exceed its annual revenue.
What is the nature of the '0%' officer compensation reported across all filings?
The '0%' officer compensation suggests that the organization's leadership may be entirely volunteer-based, or that compensation is structured in a way not reported under 'Officer Comp' on the 990, which is uncommon for an organization of this scale.
What caused the reported $0 revenue and assets for the latest period?
The provided data for the latest period shows $0 revenue and assets. This could indicate a delay in filing, a significant change in the organization's financial status, or an error in the data provided.
Filing History
IRS 990 filing history for Wallace Genetic Foundation Inc showing financial trends over 5 years of public records:
Over 5 years of IRS 990 filings (2011–2015), Wallace Genetic Foundation Inc's revenue has declined by 30.9%, moving from $11.8M to $8.1M. Total assets increased by 24% over the same period, from $151.8M to $188.2M. Total functional expenses fell by 22.5%, from $13.2M to $10.2M. In its most recent filing year (2015), Wallace Genetic Foundation Inc reported a deficit of $2.1M, with expenses exceeding revenue. The organization holds $13K in liabilities against $188.2M in assets (debt-to-asset ratio: 0.0%), resulting in net assets of $188.2M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2015 | $8.1M | $10.2M | $188.2M | $13K | — | View 990 |
| 2014 | $6.0M | $10.7M | $198.3M | $14K | — | View 990 |
| 2013 | $13.5M | $9.8M | $189.0M | $11K | — | View 990 |
| 2012 | $6.8M | $8.5M | $153.4M | $9K | — | View 990 |
| 2011 | $11.8M | $13.2M | $151.8M | $41K | — | View 990 |
Year-by-Year Financial Summary
- 2015: Revenue of $8.1M, expenses of $10.2M, and assets of $188.2M (revenue +36.4% year-over-year).
- 2014: Revenue of $6.0M, expenses of $10.7M, and assets of $198.3M (revenue -55.8% year-over-year).
- 2013: Revenue of $13.5M, expenses of $9.8M, and assets of $189.0M (revenue +99.7% year-over-year).
- 2012: Revenue of $6.8M, expenses of $8.5M, and assets of $153.4M (revenue -42.7% year-over-year).
- 2011: Revenue of $11.8M, expenses of $13.2M, and assets of $151.8M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Wallace Genetic Foundation Inc:
Data Sources and Methodology
This transparency report for Wallace Genetic Foundation Inc 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.