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EIN 38-1359217

Kresge Foundation

IRS 501(c) type
501(c)(3)
Num. employees
119
City
Troy
State
Michigan
Year formed
1928
Most recent tax filings
2023-12-01
NTEE code, primary
T20: Private Foundations
Description
To expand opportunities in America's cities through grantmaking and social investing in arts and culture, education, environment, health, human services and community development in Detroit.
Total revenues
$279,706,042
2023
Total expenses
$236,434,347
2023
Total assets
$4,065,070,521
2023
Num. employees
119
2023

Program areas at Kresge Foundation

The Foundation uses a full spectrum of capital tools to address The financial barriers that confront communities of color and other underserved communities. The social investment practice works alongside seven program teams to unlock capital for those places and projects that improve equitable outcomes. The social investment practice generates program service revenue by supporting an often under-resourced community-development financial system and includes program-related investments (pris), loans, equity investments, strategic deposits and unfunded guarantees, which reduce risk for other investors.

Grants made by Kresge Foundation

GranteeGrant descriptionAmount
The Blackbaud Giving FundMatching Gift$3,731,049
Community Foundation for Southeast MichiganThis Grant Will Fund the Kresge Education Fund, A Donor Advised Fund at the Community Foundation for Southeast Michigan, Which Will House General Operating Support Funding for the Marygrove Conservancy.$3,030,000
Invest DetroitThis Grant Provides Continued Project Support for the Second Round of Invest Detroits Strategic Neighborhood Fund for Equitable and Inclusive Revitalization Efforts in Detroits Neighborhoods.$2,550,000
...and 687 more grants made totalling $145,900,958

Who funds Kresge Foundation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Tides CenterEquity, Human Rights, and Economic Empowerment$25,000
Wayne-Metropolitan Community Action AgencyConsulting$20,000

Personnel at Kresge Foundation

NameTitleCompensation
Richard R Buery StmtTrustee$893,330
Richard Rip RapsonPresident , Chief Executive Officer , Trustee
Rip RapsonPresident and Chief Executive Officer
Amy B RobinsonVice President , Chief Financial Officer and Cao , Treasurer
John Barker StmtVice President and Chief Information Officer$28,500
...and 7 more key personnel

Financials for Kresge Foundation

RevenuesFYE 12/2023
Total grants, contributions, etc.$0
Investment income and dividends$6,317,614
Net rental income$0
Net gain from sale of non-inventory assets$271,463,999
Gross sales of inventory$0
Miscellaneous revenues$1,924,429
Total revenues$279,706,042

Form 990s for Kresge Foundation

Fiscal year endingDate received by IRSFormPDF link
2023-122024-11-14990PFView PDF
2022-122023-11-13990PFView PDF
2021-122022-11-15990PFView PDF
2020-122021-11-15990PFView PDF
2019-122021-06-14990PFView PDF
...and 9 more Form 990s

Organizations like Kresge Foundation

OrganizationLocationRevenue
William R. Kenan JR Charitable TrustChicago, IL$81,478,601
Stuart FoundationSan Francisco, CA$93,673,838
Gordon E and Betty I Moore FoundationPalo Alto, CA$654,188,442
Simons FoundationNew York, NY$124,058,660
Overdeck Family FoundationNew York, NY$71,309,969
Novo FoundationHurley, NY$373,899,065
John D and Catherine T MacArthur FoundationChicago, IL$613,786,298
Global Action to End SmokingNew York, NY$142,827,333
Alfred P Sloan FoundationNew York, NY$118,438,028
High FoundationLancaster, PA$118,776,589
Data update history
January 14, 2025
Used new vendors
Identified 2 new vendors, including , and
November 25, 2024
Received grants
Identified 1 new grant, including a grant for $25,000 from Tides Center
September 21, 2024
Received grants
Identified 2 new grant, including a grant for $20,000 from Wayne-Metropolitan Community Action Agency
December 24, 2023
Posted financials
Added Form 990PF for fiscal year 2022
December 24, 2023
Updated personnel
Identified 3 new personnel
Nonprofit Types
Grantmaking organizationsPrivate foundationsFamily foundationsPrivate non-operating foundationsCharities
Issues
Community improvement
Characteristics
Provides grantsPartially liquidatedNational levelTax deductible donationsAccepts online donations
General information
Address
3215 W Big Beaver Rd
Troy, MI 48084
Metro area
Detroit-Warren-Dearborn, MI
County
Oakland County, MI
Website URL
kresge.org/ 
Phone
(248) 643-9630
Facebook page
TheKresgeFoundation 
Twitter profile
@kresgefdn 
IRS details
EIN
38-1359217
Fiscal year end
December
Taxreturn type
Form 990-PF
Year formed
1928
Eligible to receive tax-deductible contributions (Pub 78)
Yes
Categorization
NTEE code, primary
T20: Private Foundations
NAICS code, primary
813211: Grantmaking Foundations
Parent/child status
Independent
California AB-488 details
AB 488 status
Undetermined
Charity Registration status
Not Registered
FTB status revoked
Not revoked
AG Registration Number
None yet
FTB Entity ID
2928406
AB 488 data last updated ("as-of") date
2025-02-05
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