Lila Acheson Wallace and her husband proved to the World that the Art legacy leads towards a better future, due to education, philantropy, creativity and much more. Discover the Wallace Foundation (NYC).
Based in New York City, The Wallace Foundation is a national philanthropy that seeks to improve education and enrichment for disadvantaged children. The foundation has an unusual approach: funding projects to test innovative ideas for solving important social problems, conducting research to find out what works and what doesn’t and to fill key knowledge gaps – and then communicating the results to help others.
The Wallace Foundation traces its origins back more than a half century to the philanthropic impulses of DeWitt and Lila Acheson Wallace, founders of The Reader’s Digest Association. Giving freely of their time and the wealth amassed from the “little magazine” they launched in 1922, the Wallaces during their lifetimes contributed generously to a wide assortment of artistic, cultural and educational causes. They also ensured that after their deaths their entire fortune would go to philanthropy. The Wallaces’ giving has touched many institutions and their legacy continues today through the work of The Wallace Foundation. You may read more about the Wallaces and their philanthropy in a booklet published by The New York Community Trust, where they established a number of charitable funds.
FIND OUT MORE AT THE WALLACE FOUNDATION