Wallace Legacy Foundation INC

Tax-deductible

Murfreesboro, TN501(c)(3)Since 2021ReligionEIN 85-3815233Revenue $284K in FY2025

On file with the IRS771 Rucker Ln, 37128-4621 · Murfreesboro, TNTax-exempt since Oct 2021Publicly supported charity — 170(b)(1)(A)(vi)

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Wallace Legacy Foundation provides charitable support for mission trips in south asia and africa. The Foundation also provides training, coaching, and volunteer support for the supported organizations in these areas.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $5K a year · 2% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
2
of 3 voting members
Looks good: 2 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$284K
-4% vs prior year
Spent
$291K
To programs
92%
Net assets
$27K
By yearFY2021–FY2025
Revenue
$284K
FY2025▼ -4%
Tap a bar for its year
Revenue by fiscal year
FY2021$311K
FY2022$327K
FY2023$274K
FY2024$296K
FY2025$284K
Expenses
$291K
FY2025▲ +1.0%
Tap a bar for its year
Expenses by fiscal year
FY2021$285K
FY2022$322K
FY2023$279K
FY2024$288K
FY2025$291K
Net assets
$27K
FY2025▼ -20%
Tap a bar for its year
Net assets by fiscal year
FY2021$26K
FY2022$31K
FY2023$26K
FY2024$34K
FY2025$27K

From the FY2025 Form 990 · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 2021.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $267K Management & general 7% · $21K Fundraising 1% · $4K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A

Michael Van Horn’s $48K as President is at the 48th percentile of top reported officer pay among 2133 $100K–1M religion nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Supports mission trips and volunteers in South Asia and Africa with training and resources.

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Provided by the organization

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1 program · $267K · in their own filed words · FY2025
01

Production of native language bibles and literature as well as shipping to foreign countries. Mission support for the wilsons traveling to india. Cambodia mission work and building support. Rock of ages support to nigeria and uganda.

$267Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$284K
Ln 12
Gifts and grantsLn 1h$284K
Investment incomeLn 3$124
Money outPt IX
$291K
Ln 25
Programscol B$267K
Managementcol C$21K
Fundraisingcol D$4K
Owns and owesPt X
$27K
net assets · Ln 32
Cash and savingsLn 1–2$26K
Total assetsLn 16$27K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$284K
Investment incomeLn 3$124
Total revenueLn 12$284K
Assets in detailPt X, end of year
CashLn 1$14K
SavingsLn 2$12K
Cash and savings togetherLn 1–2$26K
Land, buildings, equipmentLn 10c$1K
Total assetsLn 16$27K
LiabilitiesLn 26$0
Net assetsLn 32$27K
OperationsPt I, VI
EmployeesI 51
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$33K$26K
Land, buildings, equipmentLn 10c$1K$1K
Total assetsLn 16$34K$27K
LiabilitiesLn 26$0$0
Net assetsLn 32$34K$27K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants and assistance to foreign recipientsLn 3$159K$159K
Other salaries and wagesLn 7$21K$21K
Payroll taxesLn 10$210$210
Legal feesLn 11b$350$350
Accounting feesLn 11c$18K$18K
Investment management feesLn 11f$1K$1K
Other fees for servicesLn 11g$4K$750$4K
Advertising and promotionLn 12$9K$9K
Office expensesLn 13$10K$10K
TravelLn 17$66K$66K
Depreciation, depletion and amortizationLn 22$112$112
Total functional expensesLn 25$291K$267K$21K$4K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $284K$291K−$7K$27K 990 PDF
FY2024 $296K$288K$8K$34K 990 PDF
FY2023 $274K$279K−$5K$26K 990 PDF
FY2022 $327K$322K$5K$31K 990 PDF
FY2021 $311K$285K$26K$26K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $284,422 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $296,154$284,298
I-9 Program service revenue$0
I-10 Investment incomePrior year $189$124
I-11 Other revenue$0
I-12 Total revenuePrior year $296,343$284,422
I-13 Grants and similar amounts paidPrior year $131,432$159,400
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $25,000$21,310
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $131,804$110,348
I-18 Total expensesPrior year $288,236$291,058
I-19 Revenue less expensesPrior year $8,107−$6,636
Part VI · Governance 2 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members2
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $284,422 across 5 lines filed
VIII-1f All other contributions, gifts and grants$284,298
VIII-1h Total contributions, gifts and grants$284,298
VIII-3 Investment incomeRelated to mission $124$124
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $124 · Unrelated business $0 · Excluded from tax $0$284,422
Part IX · Statement of functional expenses $291,058 across 11 lines filed
IX-3 Grants and assistance to foreign recipientsPrograms $159,400$159,400
IX-7 Other salaries and wagesPrograms $21,100$21,100
IX-10 Payroll taxesPrograms $210$210
IX-11b Legal feesManagement $350$350
IX-11c Accounting feesManagement $18,216$18,216
IX-11f Investment management feesManagement $1,253$1,253
IX-11g Other fees for servicesManagement $750 · Fundraising $3,688$4,438
IX-12 Advertising and promotionPrograms $9,215$9,215
IX-13 Office expensesPrograms $10,334$10,334
IX-17 TravelPrograms $66,430$66,430
IX-22 Depreciation, depletion and amortizationManagement $112$112
IX-25 Total functional expensesPrograms $266,689 · Management $20,681 · Fundraising $3,688$291,058
Part X · Balance sheet $27,173 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $20,706$13,925
X-2 Savings and temporary cash investmentsStart of year $11,855$12,000
X-10c Land, buildings and equipment, netStart of year $1,248$1,248
X-16 Total assetsStart of year $33,809$27,173
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $33,809$27,173
X-32 Total net assets or fund balancesStart of year $33,809$27,173
X-33 Total liabilities and net assetsStart of year $33,809$27,173
Part XI · Reconciliation of net assets $27,173 net assets at year end
XI-1 Total revenue$284,422
XI-2 Total expenses$291,058
XI-3 Revenue less expenses−$6,636
XI-4 Net assets at start of year$33,809
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$27,173

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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