Wallace Legacy Foundation Inc

Analysis

Wallace Legacy Foundation Inc is a registered charity in United States, based in Murfreesboro, TN. It received its IRS tax-exemption ruling in October 2021, 5 years ago. Its declared purposes cover religion-related, which this site groups under religion. 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 Legacy Foundation Inc reported income of $274k and spending of $279k, spending 102% of its income. Across the 3 years on record, from December 2021 to December 2023, income fell from $311k to $274k (-12%), an average of -6.0% a year. The sharpest change came in the year to December 2023, when income dropped by 16%. Over the whole period it spent 97% of the income it received.

Among 31,138 United States charities whose main cause is religion and that reported income, Wallace Legacy Foundation Inc sits at the 72nd percentile: it is larger than about 72% of them. Against every charity in United States with reported income it ranks in the 60th percentile, and in the 61st percentile within TN. Charities of a similar size with the same main cause include The Mystical Humanity of Christ ($274k), Mision Cristiana Elim Nuevo Renacer a NJ Nonprofit Corporation ($274k) and Jesus Christ Is Calling You Evangelistic Ministry Inc ($274k).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 100% of the total. Compensation of current officers, directors and key employees was $34k (12% of expenses). At year end it held assets of $26k against liabilities of $19, net assets of $26k. It reported 1 employees.