Foster, maintain, promote New Zealand artists and art
The Wallace Foundation
The Wallace Foundation was established by The James Wallace Arts Trust and Sir James Wallace to foster, maintain, promote and advance the education of New Zealand artists and New Zealand people generally in the creative arts including:
The Wallace Foundation is a registered charity CC46691 and information about the Foundation can be found on the Charities website www.charities.govt.nz
The Foundation maintains a diversified investment portfolio and uses the income from the portfolio to further its purposes.
One of the primary purposes is the maintenance and funding of the James Wallace Arts Trust. In the year ending 31 March 2014 the Foundation provided the Arts Trust with a grant of $1,000,000 which was used for the acquisition of artworks for its Collection, grants to various institutions, groups and individuals, the Wallace Art Awards and for the operating costs of the Arts Trust’s operations at Pah Homestead, Rannoch and elsewhere.
Historically the Arts Trust has provided grants to third parties in excess of $350,000 per year funded from the grant it received from the Wallace Foundation. In consultation with the Arts Trust the Foundation has decided to fund grants to third parties directly rather than funding the Arts Trust to make those grants.