A Vision for Economic Mobility
How do you see the connection between economic mobility and Wallace’s three current focus areas of education leadership, youth development, and the arts?
Each of our three focus areas has the strong potential to advance people’s economic mobility, and they remain core to Wallace’s mission. We will be specifically defining what this means for our work during the foundation’s strategic planning process.
You mention broadening Wallace’s education focus. Does this mean education leadership is no longer a priority for the Foundation?
No, education leadership always has been and will continue to be a part of the foundation’s focus. However, education leaders don’t operate in a vacuum. In our two decades of studying the role principals play in improving student outcomes, we’ve learned a lot about what it takes to support student success. We want to build on those findings and broaden our focus on education with an emphasis on increasing pathways to economic mobility. This means thinking about the entire education ecosystem, of which school leaders are a central and critical part.
How will Wallace measure progress toward economic mobility? What does success look like in five or ten years?
Answering this question is a key part of the strategic planning work we are doing throughout the remainder of this year. However, we are starting with an ambitious foundation-wide impact goal: A strong career launch by age 25. This means that young people by the age 25 are on a path to earning at or above the MIT living wage in one’s region, in a way that builds skills and advances one’s career.
When do you expect to have more concrete details about the new vision ready to share?
We will be spending the remainder of 2026 refining the vision and strategy. We look forward to sharing our new vision and plan early next year and are eager to work with others to amplify our impact.
Wallace has signaled an interest in working with other funders and coalitions as well as in shaping policy. Can you share more?
Increasing access to economic mobility is not a goal that a single funder can accomplish on its own. The magnitude of the challenge requires collective effort. Wallace wants to collaborate with others already working to address this challenge, as well as compel new partners to come on board, to increase the potential for deeper impact.
Will Wallace's grantmaking criteria change for existing grantees in your three focus areas, or are you reinterpreting the goal of the work that's already happening?
We will honor all current commitments. As part of our strategic planning process, we hope to identify opportunities to enhance existing initiatives in ways that align with our developing focus on economic mobility. We also hope to identify a few new projects that will help us learn more. Our strategy going forward will be outlined as part of the strategic planning process.
WHO IS THE WALLACE FOUNDATION?
We are an independent research foundation helping communities build a more vibrant and just future. We work in the arts, education, and youth development sectors. With our partners and grantees, we seek to solve problems and improve people's lives. The evidence-based research we share supports policymakers and practitioners working to enhance community vitality and help all people reach their full potential. Learn more about our focus areas.
