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The Wallace Foundation

New York, NY · EIN 136183757 · Form 990PF · FY2024 · NTEE T20 · Philanthropy & Grantmaking · Very Large (>$50M)
revenue
$124.1M
expenses
$31.6M
net assets
$1.7B
employees
profile · synthesized from sources

The Wallace Foundation is a national philanthropy focused on supporting initiatives in arts and education. It funds organizations working to advance well-being in the arts and improve educational leadership through district-level partnerships. The foundation operates primarily by awarding grants to nonprofit organizations and school districts across the United States.

named programs · 2 · from sources

What they call their work

Advancing Well-Being in the Arts
National initiative providing multi-year grants to arts organizations to support artist well-being and organizational resilience
Education Change Project (ECPI)
Supports urban school districts in developing leadership practices and policies to improve student outcomes
activities · 3 groups

What they do

  • Art Museum Funding and Support 1 activity
    • Funding participation in the Advancing Well-Being in the Arts initiative
      Funds organizations to participate in the Advancing Well-Being in the Arts initiative, which aims to support the well-being of arts groups and their communities.
  • Private K–12 School Support 1 activity
    • Funding research on ECPI-participating school districts by the University of Wisconsin System
      Funds the University of Wisconsin System to conduct research on school districts participating in Wallace's Education Leadership and Community Partnerships Initiative (ECPI).
  • Teacher & Classroom Innovation Grants 1 activity
    • Funding school district participation in the Education Leadership and Community Partnerships Initiative (ECPI)
      Funds multiple school districts to participate in Wallace's Education Leadership and Community Partnerships Initiative (ECPI), aimed at improving education leadership and community engagement.
financials · form 990PF · fy2024
revenue
Total revenue$124.08M
Contributions & grants
Program service revenue
Investment income$8.71M7%
Other revenue$115.35M
expenses
Total expenses$31.63M
Program expenses
Admin / overhead
Fundraising
Salaries & benefits$3.46M
Grants paid out$54.58M
balance sheet
Total assets$1.76B
Cash
Investments
Liabilities
Net assets$1.73B
5 years on record · 2020–2024 · YoY revenue +116.5%
leadership · form 990 part vii · fy2024

Who runs it

paid leadership · 7
NameTitleHours/wkCompensation
Thomas Lenehan CIO & Assistant Treasurer 50 $1.46M
William I Miller President & Director 50 $1.17M
Talia Shaull CHRO 50 $462K
Stacy J Martin CFO & Treasurer (end 8/30/2024) 50 $376K
Jennifer Maimone-Medwick General Counsel & Corporate Secretary (start 6/10/2024) 50 $227K
Ingrid Rasmussen CFO & Treasurer (start 9/2/2024) 50 $158K
Geraldine Sutera Legal/HR Assoc. & Asst Corp Secretary 40 $152K
board members · 10
  • Amor Towles — Director
  • Anne Dinneen — Director
  • Daniel Weiss — Director
  • Jorge Ruiz de Velasco — Director
  • Kelly Ungeman — Director
  • Kent McGuire — Director
  • Kevin Young — Director
  • Kimberly Nelson — Director
  • Mary Beth West — Director
  • Richard L Kauffman — Director
relationships · 12

Who they work with

  • Alternate ROOTS Inc Partner — Recipient of a grant to participate in Wallace's Advancing Well-Being in the Arts initiative.
  • Board of Education of Jefferson County Kentucky Partner — Recipient of a grant to participate in Wallace's ECPI.
  • Board of Regents of the University of Wisconsin System Partner — Recipient of a grant to study districts participating in Wallace's ECPI.
  • Columbus City Schools Partner — Recipient of a grant to participate in Wallace's ECPI.
  • DC Public Education Fund Partner — Recipient of a grant for D.C. Public Schools to participate in Wallace's ECPI.
  • First Peoples Fund Partner — Recipient of a grant to participate in Wallace's Advancing Well-Being in the Arts initiative.
  • Fresno Unified School District Partner — Recipient of a grant to participate in Wallace's ECPI.
  • Fund for Educational Excellence Inc Partner — Recipient of a grant to support Baltimore City Public Schools' participation in Wallace's ECPI.
  • National Association of Latino Arts and Culture Partner — Recipient of a grant to participate in Wallace's Advancing Well-Being in the Arts initiative.
  • San Antonio Independent School District Partner — Recipient of a grant to participate in Wallace's ECPI.
  • School District No 1J Multnomah County Oregon Partner — Recipient of a grant to participate in Wallace's ECPI.
  • Winston Salem Forsyth County Partner — Recipient of a grant to participate in Wallace's ECPI.
strategies · 2

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Advancing Well-Being Through Artistic Engagement
    methodology: arts_for_wellbeing
    By supporting arts organizations through the Advancing Well-Being in the Arts initiative, we improve individual and community well-being because artistic engagement fosters psychological, social, and emotional benefits that contribute to overall flourishing.
  • Evidence Generation Through Research Partnerships
    methodology: evidence_generation
    By funding research on education leadership and community partnerships within districts engaged in the ECPI, we generate actionable evidence that improves policy and practice because rigorous, context-specific research accelerates the adoption of effective strategies in education systems.