Kresge Foundation
- Assets
- $0.0
- Revenue
- $373.5m
- Investments
- $4.5b
- Employees
- 0
- Location
- Troy, MI
- Founding
- 04/1928
- Data as of
- 12/2021
- EIN
- 38-1359217
Organization Overview
Kresge Foundation is located in Troy, MI. The organization was established in 1928. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kresge Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Kresge Foundation generated $373.5m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 25.8% each year . All expenses for the organization totaled $238.3m during the year ending 12/2021. While expenses have increased by 4.0% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Kresge Foundation has awarded 9,600 individual grants totaling $1,483,419,021. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Rip Rapson Stmt 24 President, Ceo, Trustee | 55 | $893,330 | |
John Barker Stmt 24 VP & Cio (began 7/2/22) | 55 | $869,843 | |
Zenna Elhasan Stmt 24 General Counsel & Board Secretary | 55 | $309,611 | |
Benjamin S Kennedy Stmt 24 Vp, Programs | 55 | $376,250 | |
Robert J Manilla Stmt 24 VP & Cio (ended 7/1/22) | 55 | $1,017,034 | |
Amy B Robinson Stmt 24 Vp, CFO & Cao, Treasurer | 55 | $476,704 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bny Mellon Asset Servicing | 12/30/22 | $1,053,203 |
Zara Creative Llc | 12/30/22 | $471,379 |
Deloitte Tax Llp | 12/30/22 | $378,161 |
Ernst & Young Us Llp | 12/30/22 | $314,500 |
Emerging Markets Inc | 12/30/22 | $281,868 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $0 |
| Dividends & Interest | $2,503,857 |
| Profit on Inventory Sales | $0 |
| Other Income | $2,222,054 |
| Total Revenue | $373,549,633 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $3,672,449 |
| Pension plans, employee benefits | $6,207,132 |
| Depreciation | $1,534,382 |
| Occupancy | $850,845 |
| Travel, conferences, and meetings | $756,319 |
| Printing and publications | $33,806 |
| Total operating and administrative expenses | $46,935,805 |
| Contributions, gifts, grants paid | $191,322,274 |
| Total expenses and disbursements | $238,258,079 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,880,941 |
| Investments—mortgage loans | $0 |
| Investments—other | $2,934,842,583 |
| Other assets | $15,640,885 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $20,280,775 |
Grants Awarded
Over the last fiscal year, Kresge Foundation has awarded $233,871,535 in support to 1,053 organizations.
| Grant Recipient | Amount |
|---|---|
ACHIEVING THE DREAM INC PURPOSE: THIS GRANT WILL BUILD THE CAPACITY TO EXPAND SIYAPHUMELELA, INCLUDING TRAINING A CADRE OF SOUTH AFRICAN COACHES TO WORK WITH PARTICIPATING UNIVERSITIES AND FACILITATING KNOWLEDGE DEVELOPMENT ACROSS OUR TWO RESPECTIVE AND GROWING LEARNING NETWORKS. | $50,000 |
ADMINISTRATORS OF THE TULANE EDUCATIONAL FUND PURPOSE: TO EXPAND COLLEGE ACCESS AND SUCCESS PROGRAMMING AND IMPROVE NEW ORLEANS FAFSA COMPLETION EFFORTS. | $145,000 |
AERIS INSIGHT INC PURPOSE: GENERAL OPERATING SUPPORT DURING A SIX-MONTH STRATEGIC EVALUATION AND PLANNING PERIOD. | $50,000 |
AFRICAN AMERICAN ALLIANCE OF CDFI CEOS PURPOSE: THIS GRANT REQUEST WILL SUPPORT THE INITIAL PLANNING PHASE OF THE PROPOSED NMTC PROGRAM FOR THE ALLIANCE CDFI MEMBERS. | $9,000 |
AFRICAN AMERICAN ALLIANCE OF CDFI CEOS PURPOSE: THE KRESGE GRANT WILL HELP SUPPORT THE DEVELOPMENT OF A PROGRAM TO PROVIDE TRAINING AND TECHNICAL ASSISTANCE TO BLACK-LED CDES THAT WILL PREPARE THEM TO APPLY AND, TO THE EXTENT THAT SUCH STRATEGIES EXIST, EMPLOY STRATEGIES THAT WILL INCREASE THEIR OPPORTUNITIES FOR SUBMITTING A SUCCESSFUL NEW MARKETS TAX CREDITS APPLICATION. | $121,000 |
AGAPE CHILD & FAMILY SERVICES PURPOSE: THE PURPOSE OF THIS GRANT IS TO SUPPORT THE PARTNERSHIP WITH AGAPE CHILD & FAMILY SERVICES (MEMPHIS, TN) TO FURTHER EFFORTS TO LEVERAGE A TWO-GENERATION (2GEN) APPROACH TO ADVANCE SOCIAL AND ECONOMIC MOBILITY THROUGH A PLACE-BASED OPPORTUNITY ECOSYSTEMS. | $500,000 |