2018-05-15T09:44:09-05:00 2017-12-31 BDO USA LLP 8401 GREENSBORO DRIVE 800 MCLEAN VA 22102 990PF 2017-01-01 136162575 WALLACE GENETIC FOUNDATION INC % DAVID DOUGLAS WALL 2029662932 4910 MASSACHUSETTS AVE NW Suite ST WASHINGTON DC 20016 DAVID DOUGLAS Director 2029662932 2018-05-10 true Jeffrey J Schragg P00234543 7038930600 2017 2022-09-23 18:48:47Z X 909238 X 0 X 2939270 2939270 0 10284202 10284202 56 13223528 13223472 0 371288 25990 0 345298 58774 0 0 0 70041 19071 0 19071 453334 453334 0 0 86715 4046 0 0 2523 0 100813 0 100813 23262 222 23041 1166750 502663 0 488223 10500000 10500000 11666750 502663 0 10988223 1556778 12720809 0 692573 615686 615686 4124067 110156 110156 0 0 8885 8885 4676581 0 184565236 0 15384 174511 174511 194073841 909238 909238 22794 2734 2076 22794 4810 X 194051047 904428 194051047 904428 194073841 909238 194051047 1556778 35280928 230888753 229984325 904428 10284202 false 9735816 184469936 0.052777 9682313 184481515 0.052484 9710262 189643235 0.051203 8933255 167746088 0.053255 7656689 157369200 0.048654 0.258373 0.051675 190709658 9854922 127208 9982130 10988223 X 127208 127208 127208 301719 301719 174511 355 174156 false false false false false true true true true true DC NY true false false false false true WWW.WALLACEGENETIC.ORG DAVID DOUGLAS 2029662932 4910 MASSACHUSETTS AVE NW STE 221 WASHINGTON DC 20016 false false false false true false false false false false false false false false false false false false false false DAVID DOUGLAS 4910 MASSACHUSETTS AVE NW WASHINGTON DC 20016 VP, TREASURER & DIRECTOR 3.0 0 0 0 Joan Douglas Murray 4910 MASSACHUSETTS AVE NW WASHINGTON DC 20016 PRESIDENT AND DIRECTOR 25.0 0 0 0 PATRICIA LEE 4910 MASSACHUSETTS AVE NW WASHINGTON DC 20016 CO-EXEC. DIRECTOR (1/1-10/31) 19.0 188554 0 0 Ann D Cornell 4910 MASSACHUSETTS AVE NW WASHINGTON DC 20016 VP, Secretary AND DIRECTOR 3.0 0 0 0 Carolyn Sand 4910 MASSACHUSETTS AVE NW WASHINGTON DC 20016 CO-EXEC. DIRECTOR (1/1-10/31) 13.0 182734 0 0 BDO USA LLP 770 KENMOOR SE STE 300 GRAND RAPIDS MI 49546 0 72669 TRISTER ROSS SCHADLER & GOLD PLLC 1666 CONNECTICUT AVE NW STE 5 WASHINGTON DC 20009 0 58774 189435794 4141586 36486 193613866 0 193613866 2904208 190709658 9535483 9535483 127208 127208 9408275 9408275 9408275 10988223 0 0 0 0 10988223 127208 10861015 9408275 0 2015 2014 2013 0 789648 336610 610407 590600 2327265 10988223 0 9408275 1579948 3907213 0 0 0 0 3907213 789648 336610 610407 590600 1579948 NA NA X ATTACHMENT 5A 4910 Massachusetts Ave NW WASHINGTON DC 20016 Support 10500000 10500000 14 2939270 18 10284202 INSURANCE REFUND 29 56 13223528 13223528 false false false false false false false false false false ACCOUNTING FEES 70041 19071 0 19071 FIXED ASSET DETAIL FIXED ASSET DETAIL COMPUTER EQUIPMENT 4,801 FURNITURE 37,182 ------- TOTAL FIXED ASSETS 41,982 LESS: ACCUM. DEPRECIATION -41,844 ------- NET FIXED ASSETS 139 CURRENT YEAR DEPRECIATION EXPENSE 443 IN 2017 WALLACE GENETIC FOUNDATION, INC. ("WGF") UNDERTOOK STEPS TO BEGIN A PROCESS OF REORGANIZATION CONSISTENT WITH 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. WGF HAS NOT AND WILL NOT GIVE NOTICE TO THE SECRETARY OF THE TREASURY OF ITS INTENT TO TERMINATE ITS PRIVATE FOUNDATION STATUS UNDER IRC SECTION 507(A)(1) UNTIL ALL REMAINING ASSETS ARE DISTRIBUTED AND WGF WINDS UP ITS AFFAIRS. LEGAL FEES 58774 0 0 IRS TAX REFUND RECEIVABLE 174511 174511 TRANSFERS TO FARVUE 77235509 TRANSFER TO WALLACE II FOUNDATION 152748815 ROUNDING 1 BANK CHARGES 443 222 222 ADMINISTRATIVE EXPENSE 2000 2000 INSURANCE 6479 6479 OFFICE EXPENSES 4060 4060 TELEPHONE 6888 6888 PAYROLL EXPENSES 3392 3392 OTHER INCOME 56 UNREALIZED GAIN ON INVESTMENTS 35265040 BOOK TO TAX DIFFERENCE - COMPENSATION 15888 ACCRUED COMMISSION 2076 INVESTMENT FEES 453334 453334 0 0 PAYROLL TAXES 19982 0 0 0 OTHER TAXES PAID 1600 0 0 0 TAXES PAID ON INVESTMENTS 4046 4046 0 0 FEDERAL TAXES PAID 61087 0 0 0