The Wallace Foundation was launched in 1922 by the founders of The Reader's Digest Association, De Witt and Lila Acheson Wallace. The Foundation aims to improve education and enrichment for disadvantaged children. They fund 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 others.
The Foundation's vision is that children, particulary those living in distressed urban areas, have access to good schools and a variety of enrichment programs in and outside of school that prepare them to be contributing members of their communities.
Their mission is to improve learning and enrichment opportunities for children through supporting and sharing effective ideas and practices.