Dwane L and Velma Lunt Wallace Charitable Foundation

The Dwane L and Velma Lunt Wallace Charitable Foundation is a non-profit organization established in 1989, based in Wichita, Kansas. It is recognized as a 501(c)(3) charitable foundation, which supports a wide variety of causes, primarily in health and human services, as well as contributing to a children's home[2][4].

Mission and Activities

The foundation's mission is to provide funding primarily to organizations within Wichita and the state of Kansas. It supports various sectors, including arts and culture, education, community development, social services, and quality of life initiatives[1]. Additionally, it supports projects that enhance local communities, focusing on areas like transportation, service dogs, STEAM camps, and culinary programs for underserved groups[5].

History

Dwane L. Wallace, a former president of Cessna Aircraft Company, and his wife Velma Lunt Wallace, were instrumental in establishing this foundation as part of their commitment to philanthropy. Dwane was a pioneer in aviation, playing a key role in reopening the Cessna plant during the Great Depression and leading the company to become a major player in general aviation[3]. Velma was also an avid pilot and actively involved in various community organizations, earning her numerous awards for her contributions[3].

Scholarships and Endowments

One notable legacy of the Wallaces is the Dwane and Velma Wallace Endowment at Wichita State University, established in 1976. This endowment supports scholarships for engineering students and has benefited nearly 300 students over the years, distributing more than $3 million in scholarships[3].

Financial Overview

As of recent financial reports, the foundation holds substantial assets, indicating its capacity to continue supporting diverse charitable activities[4]. The organization operates with a board of trustees who oversee its operations and grant-making strategies.

Impact and Legacy

Through its philanthropic activities, the Dwane L and Velma Lunt Wallace Charitable Foundation has contributed significantly to improving lives and enhancing community services in Kansas. The foundation's dedication to education, human services, and community development reflects the Wallaces' enduring legacy in the region.