Wallace House Foundation-A Museum and Vice Presidential Library

Analysis

Wallace House Foundation-A Museum and Vice Presidential Library is a registered charity in United States, based in Des Moines, IA. It received its IRS tax-exemption ruling in March 1989, 37 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Wallace House Foundation-A Museum and Vice Presidential Library reported income of $742k and spending of $575k, leaving 23% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $530k to $742k (+40%), an average of +8.8% a year. The sharpest change came in the year to December 2023, when income rose by 58%. Over the whole period it spent 96% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Wallace House Foundation-A Museum and Vice Presidential Library sits at the 82nd percentile: it is larger than about 82% of them. Against every charity in United States with reported income it ranks in the 76th percentile, and in the 78th percentile within IA. Charities of a similar size with the same main cause include Variations Theatre Group Inc ($742k), Houston Center for Photography ($742k) and Central Illinois Radio Fellowship Inc ($741k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 75% and program service revenue 20% of the total. Other salaries and wages came to $338k. At year end it held assets of $1.5m against liabilities of $89k, net assets of $1.5m. It reported 45 employees.