The Wallace County Foundation was created and incorporated in 1998 by a group of local leaders wanting to improve the quality of life in Wallace County and to facilitate gifts for community improvement projects.  Sizable gifts to the Foundation by local families provided the impetus for the Foundation to become more active several years after its formation.  Since its creation, the Foundation has received and distributed nearly $750,000 to projects in Wallace County.

As the Foundation has grown, the opportunities available have increased, as well.  In late 2014, the Foundation affiliated with Scott Community Foundation, a much larger area foundation, which provides office support, investment management, and endowment building expertise.  In 2015, the Foundation entered into an agreement with Greater Northwest Kansas Community Foundation (GNWKCF), under which the WCF Board serves as the advisory committee for review of grant applications for community grant funds designated for Wallace County by the Dane G. Hansen Foundation.  Wallace County projects will have received $200,000 in Hansen community grants through WCF and GNWKCF by the end of 2016.