Wallace Foundation for Rural Research and Development

Analysis

Wallace Foundation for Rural Research and Development is a registered charity in United States, based in Lewis, IA. It received its IRS tax-exemption ruling in December 1991, 35 years ago. Its declared purposes cover employment, which this site groups under community and economic development. 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 Foundation for Rural Research and Development reported income of $72k and spending of $102k, spending 141% of what it took in. Across the 4 years on record, from December 2020 to December 2023, income grew from $68k to $72k (+5.6%), an average of +1.8% a year. The sharpest change came in the year to December 2023, when income rose by 25%. Over the whole period it spent 151% of the income it received.

Among 19,475 United States charities whose main cause is community and economic development and that reported income, Wallace Foundation for Rural Research and Development sits at the 28th percentile: it is larger than about 28% of them. Against every charity in United States with reported income it ranks in the 28th percentile, and in the 26th percentile within IA. Charities of a similar size with the same main cause include District 272 Educational Foundation ($72k), Friends of Stowe Vibrancy Inc ($72k) and Vicenza Community Club ($72k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 68% of the total. Compensation of current officers, directors and key employees was $12k (12% of expenses). At year end it held assets of $1.5m against liabilities of $20k, net assets of $1.5m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.