Wallace+Foundation

The Wallace Foundation
(formerly Wallace-Reader's Digest Funds) 5 Penn Plz., 7th Fl. New York, NY 10001-1837 Telephone: (212) 251-9700 Contact: Genl. Mgmt. Fax: (212) 679-6990 E-mail: info@wallacefoundati... URL: www.wallacefoundation.org

Type of Grantmaker
Independent foundation

IRS Exemption Status
501(c)(3)

Additional Descriptor
Celebrity foundation: Business==== Financial Data ==== (yr. ended 12/31/09) Assets: $1,279,832,854 Total giving: $49,800,502

EIN
136183757

990-PF
2009 2008 2007 2006 2005 2004 2003 2002 2001 The IRS has announced processing errors on electronically filed Forms 990 for filing years 2007-2009. Learn More»



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//Note: If a donor is deceased, the symbol (‡) follows the name.// DeWitt Wallace‡

Lila Acheson Wallace‡



The Wallace Foundation is the current manifestation of the philanthropic legacy of DeWitt and Lila Acheson Wallace, who created a series of family foundations in the mid 1950s and 1960s. By 2003, the various foundations had merged and adopted the current name. Immediately prior to this merger, there were two foundations known as the Lila Wallace-Reader's Digest Fund and the DeWitt Wallace-Reader's Digest Fund. Founded by the late DeWitt and Lila Wallace. Married in 1921, Lila and DeWitt moved to New York City and published the first edition of Readers Digest in Jan. 1922. From an initial circulation of 5,000, the "little magazine" started by the Wallaces quickly caught on, and over time it became the foundation of a worldwide publishing organization. Once their livelihood was secured, they were able to turn to their first love, helping people.

The foundation is a signatory to Philanthropy's Promise, and consequently, will be committing a significant percentage of their grantmaking dollars to meeting the needs of underserved communities, including the financial support of advocacy and civic engagement

At the close of 2009 the market value of the foundation's assets totaled $1.2 billion, a 15 percent increase over the 2008 value ($1.1 billion)

Giving on a national basis. No support for religious or fraternal organizations; environmental or conservation programs, health, medical or social service programs, international programs, or for private foundations. No grants to individuals, or for annual campaigns, emergency funds, historical restoration, capital campaigns, or for deficit financing.

The foundation's mission is to enable institutions to expand learning and enrichment opportunities for all people. The foundation does this by supporting and sharing effective ideas and practices. To achieve their mission, they have three objectives: strengthen education leadership to improve student achievement; enhance out-of-school time learning opportunities; and build appreciation and demand for the arts.

The grantmaker has identified the following area(s) of interest:

Building Appreciation and Demand for the Arts
The foundation's work in the arts consists of two components: the Wallace Excellence Awards, which provide support to exemplary arts organizations in selected cities to identify, develop, and share effective ideas and practices to reach more people; and Arts For Young people, whose goal is to help selected cities develop effective approaches for expanding high-quality arts learning opportunities both inside and outside of school and to capture and share lessons that can benefit many other cities and arts organizations.

Education Leadership
Research shows that high-quality leadership is second only to instruction among school-based factors in its impact on learning. The foundation's goal, therefore, is to develop and test approaches in state and district sites that can improve the quality of leadership and leaders' impact on teaching and learning; capture lessons from our sites and funded research; and share them within our network and beyond to strengthen the work of our states and districts and enable other sites that will never receive our funding to benefit.

Matching Gifts
The foundation matches the monetary gifts of its staff to charitable organizations up to $2,000 per employee per year.

Out-of-School Time Learning
The foundation's goal is to develop and test ways in which cities can plan and implement strategies that increase overall participation in high quality out-of-school learning programs so that children, especially those with the highest needs, attend often enough to gain learning and developmental benefits.

Subjects
Arts

Education

Education, community/cooperative

Education, services

Leadership development

National



Conferences/seminars

Employee matching gifts

General/operating support

Management development/capacity building

Program development

Program evaluation

Publication

Research

Technical assistance

Annual report (including application guidelines)

Financial statement

Grants list

Occasional report

Program policy statement (including application guidelines)

Unsolicited proposals are rarely funded. Application form not required. Initial approach: Letter of inquiry; no proposals for initial approach

Board meeting date(s): 4 times per year

Deadline(s): None

Final notification: Usually within 4 weeks from receipt of letter of inquiry



//Note: An asterisk (*) following an individual's name indicates an officer who is also a trustee or director.//
 * Kevin W. Kennedy**,* Chairperson

Affiliation(s):

//Hamilton College, Life Trustee//

//Metropolitan Opera, Managing Director and Secretary-Treasurer//

//New York Public Library, Trustee//

//Goldman Sachs & Co., Managing Director//


 * William I. Miller**,* President
 * Holly Dodge**, Corp. Secretary and Grants Admin.
 * Rob D. Nagel**, Treasurer and Director, Investments
 * Lawrence T. Babbio, Jr.**

Affiliation(s):

//Verizon, Vice-Chairperson and President//

//Hewlett-Packard Company, Board Member//

//ARAMARK Corporation, Board Member//

//Stevens Institute of Technology, Trustee//

//Warburg Pincus, Sr. Advisor//

//Lower Manhattan Development Corp., Board Member//

//The New York Botanical Garden, Board Member//


 * Candace K. Beinecke**
 * W. Don Cornwell**

Affiliation(s):

//Pfizer, Inc., Board Member//

//Avon Products, Inc., Board Member//

//Big Brothers/Big Sisters of New York, Trustee//

//Granite Broadcasting Corporation, Chief Executive Officer//


 * Linda Darling-Hammond**
 * Augusta Souza Kappner**

Affiliation(s):

//National Writing Project, Vice Chairperson and Board Member//

//Bank Street College of Education, President//


 * Susan J. Kropf**

Affiliation(s):

//MeadWestvaco Corp., Board Member//

//Sherwin-Williams Co., Board Member//

//Coach, Inc., Board Member//


 * Ann S. Moore**

Affiliation(s):

//Time Inc., Chairperson and Chief Executive Officer//

//Avon Products, Inc., Director//


 * Joseph W. Polisi**

Affiliation(s):

//The Julliard School, President//



Number of Staff
33 full-time professional

19 full-time support

Key Staff
//Note: Does not include officers.//
 * Ayeola Boothe-Kinlaw**, Sr. Program Officer, Education
 * Sharon W. Clark**, Director, Operations
 * Nancy Devine**, Director, Communities
 * Mary E. Geras**, Director, Finance
 * Lucas B. Held**, Director, Communications
 * Ariana Hellerman**, Program Associate, Arts
 * Richard D. Laine**, Director, Education
 * Pamela Mendels**, Sr. Writer, Communications
 * Lee Mitgang**, Director, Editorial Services
 * Edward Pauly, Ph.D.**, Director, Research and Evaluation
 * Ebonie Pittman**, Program Associate, Arts
 * Dara Rose**, Sr. Officer, Communities
 * Jessica Schwartz**, Sr. Communications Officer
 * Polly Singh**, Program Associate, Communities
 * Jody Spiro**, Sr. Officer, Education
 * Ann Stone**, Sr. Officer, Research and Evaluation
 * Daniel Windham**, Director, Arts



Regional Associations of Grantmakers
Donors Forum (IL)

Philanthropy New York

Affinity Groups
Grantmakers In the Arts

Grantmakers for Education

The Communications Network

Associations and Other Philanthropic Organizations
Council on Foundations

Independent Sector

Year ended 12/31/09:
Assets: $1,279,832,854 (market value)

Expenditures: $62,414,327

Total giving: $49,800,502

Qualifying distributions: $49,800,502

Giving activities include:

$49,776,050 for 152 grants (high: $2,500,000; low: $2,500)

$24,452 for employee matching gifts

Estimated financial data for year ending 12/31/10:
Assets: $1,406,000,000

Grants: $39,080,000

County: New York

Metropolitan area: New York-Northern New Jersey-Long Island, NY-NJ-PA

Congressional district: New York District 8



The following grants were reported in 2010: $4,000,000 to Building Educated Leaders for Life Foundation, Dorchester, MA. For general operating support to execute the strategic plan, payable over 3 years. $3,000,000 to Higher Achievement Program, Washington, DC. For general operating support to execute strategic plan, and expansion of ongoing program evaluation by P/PV to assess impacts of after-school and summer program components, payable over 3 years. $2,000,000 to Harvard University, Cambridge, MA. For matching grant for federal Investing in Innovation grant - to support project READS, payable over 5 years. $2,000,000 to KIPP Foundation, San Francisco, CA. For matching grant for federal Investing in Innovation grant - to support scaling up KIPP's effective leadership development model, payable over 5 years. $750,000 to National Public Radio, Washington, DC. For Communications Partnership to support coverage of the arts, education and out-of-school time issues and to continue to broaden awareness of The Wallace Foundation through on air and podcast acknowledgements, payable over 1 year. $750,000 to National Public Radio, Washington, DC. For a communications grant to bring greater national focus to issues in education leadership, more time for learning, arts learning and to engage policymakers and practitioners in a position to improve educational outcomes for the nations students, payable over 1 year. $350,000 to Learning Matters, New York, NY. For coverage of Wallace's areas of interest: education leadership, out-of-school time (OST), arts learning, and more time for learning, payable over 1 year. $250,000 to Academy for Educational Development, Washington, DC. To assist Wallace in planning a conference of thought leaders to explore the topic of reimagining the school day and its link to school improvement, payable over 1 year. $45,000 to Council of Chief State School Officers, Washington, DC. To plan and facilitate a meeting of representatives from school districts participating in Wallace's arts learning initiative, payable over 1 year. $25,000 to Council of Chief State School Officers, Washington, DC. For the work of the Arts Education Partnership to advance arts learning for children, payable over 1 year. Want to see more grants for this grantmaker? Try our Search Grants database.