Civic Intelligence

Wallace Genetic Foundation Inc

990PF • Fiscal year 2018 • EIN 13-6162575

Jan 01, 2018 to Jul 06, 2018 • Filed on Jul 02, 2018

Organization Profile
4910 MASSACHUSETTS AVE NW Suite 22Washington, DC 20016

(202) 966-2932

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

Score unavailable

No value available

Liabilities-to-assets requires both liabilities and assets on this filing.

Source year 2018

Liabilities / Revenue

59th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2018 filings • <$500k nonprofits • Source year 2018

Net Margin

3rd percentile

-333%

Higher net margin than 3% of similar nonprofits.

2018 filings • <$500k nonprofits • Source year 2018

Top Officer Pay

77th percentile

$0

Higher top officer pay than 77% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2018 filings • <$500k nonprofits • Source year 2018

Asset Growth

2nd percentile

-100%

Faster asset growth than 2% of similar nonprofits.

2018 filings • <$500k nonprofits • Annualized from 2017 to 2018

Revenue Growth

1st percentile

-100%

Faster revenue growth than 1% of similar nonprofits.

2018 filings • <$500k nonprofits • Annualized from 2017 to 2018

Balance Sheet
Liabilities / AssetsScore unavailable

Assets

Down

$0

Down $909,238 (-100%) from 2017

Net Assets

Down

$0

Down $904,428 (-100%) from 2017

Liabilities

Down

$0

Down $4,810 (-100%) from 2017

Revenue And Expenses
Liabilities / Revenue59th percentileNet Margin3rd percentile

Revenue

Down

$17,765

Down $13,205,763 (-100%) from 2017

Expenses

Down

$76,935

Down $11,589,815 (-99%) from 2017

Net Income

Down

-$59,170

Down $1,615,948 (-104%) from 2017

Historical Trend

Balance Sheet Trend

Asset Growth2nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200M$150M$100M$50M$0Assets 2011: $151,779,119Liabilities 2011: $41,0532011Assets 2012: $153,434,358Liabilities 2012: $9,1932012Assets 2013: $188,972,467Liabilities 2013: $11,3972013Assets 2014: $198,267,807Liabilities 2014: $13,6102014Assets 2015: $188,190,262Liabilities 2015: $13,4142015Assets 2016: $194,073,841Liabilities 2016: $22,794Net Assets 2016: $194,051,0472016Assets 2017: $909,238Liabilities 2017: $4,810Net Assets 2017: $904,4282017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2018

Assets$0
Liabilities$0
Net Assets$0
Open 2018 Filing

Operations Trend

Revenue Growth1st percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0-$5.0M-$10MRevenue 2011: $11,790,807Expenses 2011: $13,223,364Net Income 2011: -$1,432,5572011Revenue 2012: $6,761,710Expenses 2012: $8,498,534Net Income 2012: -$1,736,8242012Revenue 2013: $13,502,378Expenses 2013: $9,756,525Net Income 2013: $3,745,8532013Revenue 2014: $5,969,955Expenses 2014: $10,685,321Net Income 2014: -$4,715,3662014Revenue 2015: $8,145,112Expenses 2015: $10,247,123Net Income 2015: -$2,102,0112015Revenue 2016: $4,233,554Expenses 2016: $10,413,694Net Income 2016: -$6,180,1402016Revenue 2017: $13,223,528Expenses 2017: $11,666,750Net Income 2017: $1,556,7782017Revenue 2018: $17,765Expenses 2018: $76,935Net Income 2018: -$59,1702018

Highlighted filing

2018

Revenue$17,765
Expenses$76,935
Net Income-$59,170
Open 2018 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2018 to Jul 6, 2018
Signed
Jul 2, 2018
Return Version
2017v2.3
Compensation and Service Providers
Top Officer Pay77th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
DAVID WALLACE DOUGLASVP & Treasurer/Director-$0--
JOAN D MURRAYSecretary/Director-$0--
ANN DOUGLAS CORNELLPresident/Director-$0--
Filing and Contact Details

Filer

Filer Name
Wallace Genetic Foundation Inc
EIN
13-6162575
In Care Of
% DAVID DOUGLAS
Phone
2029662932
Address
4910 MASSACHUSETTS AVE NW Suite 22, WASHINGTON, DC 20016

Signing Officer

Name
David Douglas
Title
Director
Phone
2029662932
Signed
2018-07-02
Discuss with paid preparer
Yes

Preparer

Firm
Bdo USA Llp
Address
8401 GREENSBORO DRIVE 800, MCLEAN, VA 22102
Preparer
Jacob Cook
Phone
7038930600
Raw XML Appendix299 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990PF/UndistributedIncomeGrp/ExcessFromYear3Amt0610407
IRS990PF/UndistributedIncomeGrp/ExcessFromYear4Amt0336610
IRS990PF/UndistributedIncomeGrp/PriorYear1Yr02015
IRS990PF/UndistributedIncomeGrp/PriorYear2Yr02014
IRS990PF/UndistributedIncomeGrp/PriorYear3Yr02013
IRS990PF/UndistributedIncomeGrp/PriorYearUndistributedIncmAmt00
IRS990PF/UndistributedIncomeGrp/QualifyingDistributionsAmt09766
IRS990PF/UndistributedIncomeGrp/RemainingDistriFromCorpusAmt00
IRS990PF/UndistributedIncomeGrp/Taxable1Amt00
IRS990PF/UndistributedIncomeGrp/Taxable2Amt00
IRS990PF/UndistributedIncomeGrp/TotalCorpusAmt03903826
IRS990PF/UndistributedIncomeGrp/TotalExcessDistributionCyovAmt03907213
IRS990PF/UndistributedIncomeGrp/TotalForPriorYearsAmt00
IRS990PF/UndistributedIncomeGrp/UndistributedIncomeCYAmt00
IRS990PF/UndistributedIncomeGrp/UndistributedIncomePYAmt00
LegalFeesSchedule/LegalFeesGrp/CategoryTxt0LEGAL FEES
LegalFeesSchedule/LegalFeesGrp/DisbursementsCharitablePrpsAmt00
LegalFeesSchedule/LegalFeesGrp/LegalFeesAmt026950
LegalFeesSchedule/LegalFeesGrp/NetInvestmentIncomeAmt00
LiquidationExplanationStmt/ExplanationTxt0IN 2017 WALLACE GENETIC FOUNDATION, INC. ("WGF") UNDERTOOK STEPS TO BEGIN A PROCESS OF REORGANIZATION CONSISTENT WITH IRS REVENUE RULING 2002-28. WGF FILED A PETITION FOR APPROVAL OF A PLAN OF DISSOLUTION AND DISTRIBUTION OF ASSETS ("THE PLAN") WITH THE NEW YORK ATTORNEY GENERAL. THE PLAN DESCRIBED THE INTENT TO DISTRIBUTE TWO-THIRD'S OF WGF'S NET ASSETS TO THE WALLACE GENETIC FOUNDATION II ("WGF II"), A DELAWARE CORPORATION, (EIN: 81-4236372), AND ONE-THIRD OF ITS NET ASSETS TO THE FARVUE FOUNDATION ("FARVUE"), A DELAWARE CORPORATION, (EIN: 27-1938940). THE NEW YORK ATTORNEY GENERAL TOOK THE FIRST STEPS IN APPROVING THE PLAN IN OCTOBER 2017. SEE ATTACHED COPY. AS SUCH, WGF DISTRIBUTED SUBSTANTIALLY ALL OF ITS ASSETS TO WGF II AND FARVUE PRIOR TO DECEMBER 31, 2017. A REASONABLE AMOUNT OF CASH WAS MAINTAINED TO COVER OUTSTANDING AND ANTICIPATED LIABILITIES (E.G., PAY CREDITORS, ASSIGN LEASES, PREPARE FINAL TAX RETURNS, ETC.). DURING 2018, WGF PAID ALL CREDITORS AND DISTRIBUTED THE REMAINING ASSETS TO WGF II AND FARVUE. WGF THEN DISSOLVED UNDER STATE LAW ON JULY 6, 2018. A CERTIFIED COPY OF THE CERTIFICATE OF DISSOLUTION ISSUED BY THE NEW YORK SECRETARY OF STATE IS ATTACHED TO THIS RETURN. WGF TERMINATED ITS PRIVATE FOUNDATION STATUS UNDER IRC SECTION 509(A)(1) JULY 6, 2018 WITH NO ASSETS. AS SUCH, NO TERMINATION TAX IS DUE. THE ALLOCATION OF THE ORIGINAL TAX ATTRIBUTES HAVE BEEN ALLOCATED BASED ON THE AGREED ASSET ALLOCATION PERCENTAGES. ADJUSTED QUALIFYING DISTRIBUTIONS TOTAL WGF II FARVUE YEAR ENDED DECEMBER 31, 2014 9,710,262 6,473,508 3,236,754 YEAR ENDED DECEMBER 31, 2015 9,682,313 6,454,875 3,227,438 YEAR ENDED DECEMBER 31, 2016 9,735,816 6,490,544 3,245,272 YEAR ENDED DECEMBER 31, 2017 10,861,015 7,240,677 3,620,338 YEAR ENDED JULY 6, 2018 9,766 6,511 3,255 TOTAL 39,999,172 26,666,115 13,333,057 NET VALUE NONCHARITABLE-USE ASSETS TOTAL WGF II FARVUE YEAR ENDED DECEMBER 31, 2014 189,643,235 126,428,823 63,214,412 YEAR ENDED DECEMBER 31, 2015 184,481,515 122,987,677 61,493,838 YEAR ENDED DECEMBER 31, 2016 184,469,936 122,979,957 61,489,979 YEAR ENDED DECEMBER 31, 2017 190,709,658 127,139,772 63,569,886 YEAR ENDED JULY 6, 2018 270,163 180,109 90,054 TOTAL 749,574,507 499,716,338 249,858,169 EXCESS DISTRIBUTIONS FROM: TOTAL WGF II FARVUE YEAR ENDED DECEMBER 31, 2014 336,610 224,407 112,203 YEAR ENDED DECEMBER 31, 2015 610,407 406,938 203,469 YEAR ENDED DECEMBER 31, 2016 590,600 393,733 196,867 YEAR ENDED DECEMBER 31, 2017 1,579,948 1,053,299 526,649 YEAR ENDED JULY 6, 2018 0 0 0 TOTAL 3,117,565 2,078,377 1,039,188
OtherDecreasesSchedule/OtherDecreasesDetail/Amt0239804
OtherDecreasesSchedule/OtherDecreasesDetail/Amt1605454
OtherDecreasesSchedule/OtherDecreasesDetail/Desc0TRANSFER TO FARVUE FOUNDATION
OtherDecreasesSchedule/OtherDecreasesDetail/Desc1TRANSFER TO WALLACE II FOUNDATION
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc0NY FILING FEE
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc1INSURANCE
OtherExpensesSchedule/OtherExpensesScheduleGrp/Desc2OFFICE EXPENSES
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt0100
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt1209
OtherExpensesSchedule/OtherExpensesScheduleGrp/DisbursementsCharitablePrpsAmt2572
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt0100
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt1209
OtherExpensesSchedule/OtherExpensesScheduleGrp/RevenueAndExpensesPerBooksAmt2572
OtherLiabilitiesSchedule/OtherLiabilitiesDetail/BOYBookValueAmt02076
OtherLiabilitiesSchedule/OtherLiabilitiesDetail/Desc0ACCRUED COMMISSION
ReturnHeader/BuildTS02018-06-14 16:35:46Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0DAVID DOUGLAS
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0Director
ReturnHeader/BusinessOfficerGrp/PhoneNum02029662932
ReturnHeader/BusinessOfficerGrp/SignatureDt02018-07-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0WALLACE GENETIC FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0WALL
ReturnHeader/Filer/EIN0136162575
ReturnHeader/Filer/InCareOfNm0% DAVID DOUGLAS
ReturnHeader/Filer/PhoneNum02029662932
ReturnHeader/Filer/USAddress/AddressLine1Txt04910 MASSACHUSETTS AVE NW Suite 22
ReturnHeader/Filer/USAddress/CityNm0WASHINGTON
ReturnHeader/Filer/USAddress/StateAbbreviationCd0DC
ReturnHeader/Filer/USAddress/ZIPCd020016
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId007D32945F16EB5BD74336542AC302693E1304885
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId02767BCF7E269D2D3434BA551614CF79CF55D6980
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionId054621820182215000002
ReturnHeader/FilingSecurityInformation/FederalOriginalSubmissionIdDt02018-08-09
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt050.233.169.122
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BDO USA LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08401 GREENSBORO DRIVE 800
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0MCLEAN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd022102
ReturnHeader/PreparerPersonGrp/PhoneNum07038930600
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JACOB COOK
ReturnHeader/ReturnTs02018-08-09T09:39:32-05:00
ReturnHeader/ReturnTypeCd0990PF
ReturnHeader/TaxPeriodBeginDt02018-01-01
ReturnHeader/TaxPeriodEndDt02018-07-06
ReturnHeader/TaxYr02017

Document Assets

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Filings

Displayed year

2018 • Form 990PFDetailed filing. Detailed filing data is available for this year.

Open filing
Assets
$0
Liabilities
$0
Net assets
$0
Revenue
$17,765
Expenses
$76,935
Net income
-$59,170
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2018Detailed filing. Detailed filing data is available for this year.$0.00$0.00$0.00$0.02$0.08$0.06
2017Detailed filing. Detailed filing data is available for this year.$0.91$0.00$0.90$13.2$11.7$1.56
2016Detailed filing. Detailed filing data is available for this year.$194$0.02$194$4.23$10.4$6.18
2015Summary only. Only limited summary data is available for this year.$188$0.01$8.15$10.2$2.10
2014Summary only. Only limited summary data is available for this year.$198$0.01$5.97$10.7$4.72
2013Summary only. Only limited summary data is available for this year.$189$0.01$13.5$9.76$3.75
2012Summary only. Only limited summary data is available for this year.$153$0.01$6.76$8.50$1.74
2011Summary only. Only limited summary data is available for this year.$152$0.04$11.8$13.2$1.43