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Nonprofit · EIN 42-6540579

THE WALLACE RESEARCH FOUNDATION

Tax-exempt · CEDAR RAPIDS, IA 52401

Financials

$4.8M$5.1M2023$10.7M$5.3M2024$14.9M$6.1M2025
Revenue Expenses · by fiscal year end
Financials of THE WALLACE RESEARCH FOUNDATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2025990-PF$14,935,238$6,101,733$8,833,505$84,191,915$0$84,191,915
December 31, 2024990-PF$10,748,288$5,280,643$5,467,645$75,358,410$0$75,358,410
December 31, 2023990-PF$4,807,432$5,085,466-$278,034$69,897,282$0$69,897,282
Financial details: 990-PF for the year ended December 31, 2025

Revenue

Dividends
$2,536,181
Net gain from sales of assets
$12,399,057

Expenses

Grants and similar amounts paid
$5,132,787
Compensation of officers, directors and key employees
$0
Disbursements for charitable purposes
$5,169,302
Excise tax on investment income
$197,245

Balance sheet and other

Total assets, start of year
$75,358,410
Total assets, end of year
$84,191,915
Total liabilities, end of year
$0
Net assets, end of year
$84,191,915
Fair market value of assets
$119,202,366
Qualifying distributions
$5,169,302
Net investment income
$14,902,710

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990-PF for the year ended December 31, 2025, highest compensation first.

NameTitleHours / weekCompensation
HENRY D WALLACE
201 FIRST ST SE STE 800, CEDAR RAPIDS, IA 52401
PRESIDENT5$0
LINDA WALLACE-GRAY
201 FIRST ST SE STE 800, CEDAR RAPIDS, IA 52401
VICE PRESIDENT20$0
MARSHALL GILCHRIST
201 FIRST ST SE STE 800, CEDAR RAPIDS, IA 52401
DIRECTOR & SECRETARY2$0
ALEX GILCHRIST
201 FIRST ST SE STE 800, CEDAR RAPIDS, IA 52401
TREASURER2$0
990-PF for the year ended December 31, 2024: 4 people
NameTitleHours / weekCompensation
HENRY D WALLACE
201 FIRST ST SE STE 800, CEDAR RAPIDS, IA 52401
PRESIDENT5$0
LINDA WALLACE-GRAY
201 FIRST ST SE STE 800, CEDAR RAPIDS, IA 52401
VICE PRESIDENT20$0
MARSHALL GILCHRIST
201 FIRST ST SE STE 800, CEDAR RAPIDS, IA 52401
DIRECTOR & SECRETARY2$0
ALEX GILCHRIST
201 FIRST ST SE STE 800, CEDAR RAPIDS, IA 52401
TREASURER2$0
990-PF for the year ended December 31, 2023: 4 people
NameTitleHours / weekCompensation
HENRY D WALLACE
201 FIRST ST SE STE 800, CEDAR RAPIDS, IA 52401
PRESIDENT5$0
LINDA WALLACE-GRAY
201 FIRST ST SE STE 800, CEDAR RAPIDS, IA 52401
VICE PRESIDENT20$0
MARSHALL GILCHRIST
201 FIRST ST SE STE 800, CEDAR RAPIDS, IA 52401
DIRECTOR & SECRETARY2$0
ALEX GILCHRIST
201 FIRST ST SE STE 800, CEDAR RAPIDS, IA 52401
TREASURER2$0

Address and contacts

Address (IRS master file)
201 1ST ST SE STE 800, CEDAR RAPIDS, IA 52401-1425
In care of
% RSM MCGLADREY INC
Signed the 990-PF
HENRY D WALLACE, PRESIDENT
Phone
(319) 298-5333
Return prepared by
RSM US LLP

What it must file and when

IRS records say it files Form 990-PF. Private foundations file every year. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026990-PF on file
2024December 31, 2024May 15, 2025990-PF on file
2023December 31, 2023May 15, 2024990-PF on file

IRS record

EIN
42-6540579
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Private non-operating foundation
Donations deductible (Pub 78)
Private foundation, 30% limit
Exempt since
1996
Accounting year ends
December
Files
Form 990-PF
Assets (IRS master file)
$84,191,915
Income (IRS master file)
$46,554,654

Filing history

FormYear endedRevenueExpensesAssetsReturn
990-PFDecember 2025$14,935,238$6,101,733$84,191,915XML
990-PFDecember 2024$10,748,288$5,280,643$75,358,410XML
990-PFDecember 2023$4,807,432$5,085,466$69,897,282XML
990-PFDecember 2022–––IRS
990-PFDecember 2021–––IRS
990-PFDecember 2020–––IRS
990-PFDecember 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 42-6540579).

Questions about THE WALLACE RESEARCH FOUNDATION

What is the EIN of THE WALLACE RESEARCH FOUNDATION?
The employer identification number (EIN) of THE WALLACE RESEARCH FOUNDATION is 42-6540579.
Is THE WALLACE RESEARCH FOUNDATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1996.
Are donations to THE WALLACE RESEARCH FOUNDATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Private foundation, 30% limit).
Which annual return does THE WALLACE RESEARCH FOUNDATION file?
Form 990-PF. Private foundations file every year.
When is the next return of THE WALLACE RESEARCH FOUNDATION due?
The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
When did THE WALLACE RESEARCH FOUNDATION last file with the IRS?
The latest return in the IRS public files is the 990-PF for the year ended December 2025.
Who are the officers and directors of THE WALLACE RESEARCH FOUNDATION?
The 990-PF for the year ended December 31, 2025 lists 4 people; 0 received compensation from the organization.
How much revenue does THE WALLACE RESEARCH FOUNDATION have?
On its 990-PF for the year ended December 31, 2025 it reported revenue of $14,935,238, expenses of $6,101,733 and total assets of $84,191,915 at year end.

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