Wallace Global Fund
1990 M
Street, N.W., Suite 250
Washington, DC 20036
Phone:
202-452-1530
Fax: 202-452-0922
Website:
http://www.wgf.org/
email:
igarza@wgf.org
EIN: 52-1918002
Exempt
since
1995
Description: The fortune of
Henry A. Wallace, the first commercial hybrid corn pioneer, now
funds opponents
of high-yield agriculture and supports advocates of low-yield food
production.
Donated $100,000 to the
Institute for
Agriculture and Trade Policy, and over $450,000 to the
Tides Center,
primarily for campaigns against high-yield agriculture.
Background of the money: Wallace, an Iowa
farmer, began his corn
breeding program in 1913, with first actual sales in 1924.
The Hi-Bred Corn Company was founded
in 1926 to commercialize
his new techniques in plant breeding - in
particular, hybridization of corn.
'Pioneer' was added to the company name in 1935. Its name was changed to Pioneer
Hi-Bred International, Inc., in 1971.
Wallace held progressive views on agricultural production. His first book,
Agricultural Prices (1920), which established him as a
leading agricultural economist, argued that if the US were to
maintain a thriving, middle-class farming population, production
costs, and not the free market, should determine agricultural
prices.
Wallace was appointed Secretary of Agriculture under the
Roosevelt Administration until 1940. Wallace was chosen in 1941 as
Roosevelt's Vice President and served in this position until 1945,
when he became Secretary of Commerce. In 1948, he ran for President
as the candidate of the Progressive Party with
virtually no votes.
1959, Wallace and his wife Ilo established
the Wallace Genetic Foundation by the transfer of Pioneer shares
to the Foundation.
In 1996, the three trustees of the Wallace Genetic Foundation agreed
to split the original foundation into three separate foundations:
The Wallace Genetic Foundation, Wallace
Global Fund, and Wallace Research Foundation.
These three foundations remain separate. Each foundation continues
but reflects the
individual interests of each trustee. The Wallace
Global Fund concentrates on destroying food production worldwide
through grants to extremists intent on opposing high-yield
agriculture.
Wallace Global Fund
Revenue and Expenses: Fiscal Year Ending December 31,
2000
|
Revenue |
|
Expenses |
|
Contributions |
$1,000,000 |
|
Distributions |
$410,240 |
|
Dividends |
$5,390,619 |
|
Sale of
assets |
$481,119 |
|
Special Events |
$0 |
|
Sales |
$0 |
|
Other |
$0 |
|
|
|
Administration |
$1,757,964 |
|
Contributions |
$6,113,512 |
|
Other |
$0 |
|
Total Expenditures |
$7,871,476 |
| |
|
|
Total Assets |
$135,544,196
|
|
|
Total Revenue |
$7,281,978 |
|
NET GAIN/LOSS |
<$589,498> |
|
|
Wallace Global Fund Board
of Directors
|
Robert B. Wallace, President,
Director |
Catherine Cameron, Secretary
Executive Director |
|
R. Bruce Wallace, Treasurer, Director
|
Jonathan Lash, Director |
|
Randall C. Wallace,
Director |
Richard
Moore, Director |
|
H. Scott
Wallace, Director |
Dianne Dillon-Ridgley, Director |
|
|
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