Mike Wallace was a legendary broadcaster, best known for his role on CBS's "60 Minutes," where he conducted hard-hitting interviews and reported on significant issues, earning numerous awards for his contributions to journalism ("About"), including more than 20 Emmys, three Peabodys, and the Robert F. Kennedy Journalism Award (Holdship). Wallace is also "an inductee of the Television Academy Hall of Fame, and was named Broadcaster of the Year by the International Radio and Television Society in 1993 (Holdship). His journalism career started right at UM, where he worked for The Michigan Daily student newspaper and the student radio station. Mike earned his bachelor's degree in 1939 and was given an honorary doctorate of laws from UM in 1987 (Holdship). 

Mary Wallace worked for Vogue magazine in Paris, was Executive Producer of the CBS News program "Face the Nation," and was an independent documentary filmmaker ("Mary"). 

Together, they co-founded Wallace House, not only donating the building, but also by endowing the Knight-Wallace investigative reporting fellowship and the Livingston Awards for journalists under 35 ("About"). Wallace House also hosts and sponsors many influential events like lectures, roundtables, and presentations of journalistic works  ("About"). Recent events have included a pre-election roundtable, "CNN Anchor Jake Tapper in conversation with Lynette Clemetson," "A Conversation with NYT Technology Reporter Kashmir Hill," among others. You can find a list of all their upcoming programs on their events website.