Wallace Foundation
| Formation | 2003 |
|---|---|
| Purpose | charitable works and philanthropy |
| Headquarters | New York City |
| Location |
|
|
President
|
Will Miller (as of July 2011) |
| 11 members | |
|
Staff
|
49 |
| Website | www |
The Wallace Foundation is a national philanthropy based in New York City that seeks to foster improvements in learning and enrichment for disadvantaged children and the vitality of the arts for everyone. The foundation aims to develop knowledge about how to solve important social problems, and promote widespread solutions based on that knowledge, by funding projects to test innovative ideas, commissioning independent research to find out what works and what doesn’t, and then communicating the results to help practitioners, policymakers and leading thinkers.
The Wallace Foundation began with the philanthropy of DeWitt and Lila Acheson Wallace, who together founded The Reader's Digest Association. Drawing on the money they earned from the magazine, which they launched in 1922, the Wallaces contributed to a wide assortment of artistic, cultural and youth-serving causes. They died in the 1980s (Dewitt Wallace in 1981, Lila Wallace in 1984), leaving much of their fortune to four private foundations they had created in their lifetimes. In 2003 a single national foundation, The Wallace Foundation, emerged from the consolidation of these private foundations.
The Wallace Foundation has five major initiatives under way:
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