The Wallace Foundation is a national philanthropic organization 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.
[2] The foundation aims to develop knowledge about how to solve social problems, and promote widespread solutions based on that knowledge, by funding projects to test ideas, commissioning independent research to find out what works, and communicating the results to help practitioners, policymakers and leading thinkers.
[3] The Wallace Foundation began with the philanthropy of DeWitt and Lila Acheson Wallace, who together founded the Reader's Digest Association.
[4] 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.
[6] The Wallace Foundation has five major initiatives underway: