Wallace Genetic Foundation Inc.

Overview

The Wallace Genetic Foundation Inc. is a nonprofit organization established in 1959 by Henry A. Wallace and his wife. The foundation is dedicated to funding organizations that work towards long-term national or global benefits in areas such as conservation of natural resources, sustainable agriculture, protection of biodiversity, reduction of environmental toxins, and global climate issues[1][3][4].

History

Henry A. Wallace, who founded the Pioneer Hi-Bred Corn Company in 1926, was instrumental in developing the first commercial hybrid seed company. He served as the Secretary of Agriculture during the Franklin D. Roosevelt administration and later as Vice President of the United States. The foundation was established with the transfer of Pioneer shares to it, reflecting Wallace's commitment to serving the general welfare through environmental stewardship and sustainable practices[3][4].

Focus and Activities

The foundation supports high-profile nonprofits engaged in advocacy for sustainable practices and conservation. It has provided significant funding to organizations like EarthJustice, Environmental Working Group, and the Center for Biological Diversity, among others[1]. These organizations are often involved in campaigns promoting sustainable agriculture, opposing the use of GMOs and pesticides, and advocating for environmental conservation[1].

Financial Profile

In 2016, the foundation reported annual revenues of $4,416,759 and total assets of $194,073,844. Major recipients of its grants include EarthJustice, the Natural Resources Defense Council, and the Environmental Working Group[1].

Governance

The foundation is governed by a Board of Directors and is led by an Executive Director. As of the latest available information, David Wallace Douglas serves as President, Deborah Smith Douglas as Vice President, and Michaela Oldfield as Executive Director[5].

Legacy and Impact

The Wallace Genetic Foundation continues to support projects that align with Henry A. Wallace's vision of long-term conservation and sustainable development. Through its funding efforts, it aims to enhance the quality of life globally by promoting environmentally responsible practices and advocating for policy changes that benefit the environment[3].