EIN 38-1359217

Kresge Foundation

IRS 501(c) type
501(c)(3)
Num. employees
117
City
Year formed
1928
Most recent tax filings
2022-12-01
NTEE code, primary
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
$244,988,163
2022
Total expenses
$214,603,451
2022
Total assets
$4,041,565,416
2022
Num. employees
117
2022

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
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.$5,000,000
The Blackbaud Giving FundMatching Gift$3,985,696
University of South Florida Community Emergency Response TeamTo Support University of South Florida College of Public Health (Coph) To Serve As the New National Program Office (Npo) for the Re-Boot of the Emerging Leaders in Public Health Initiative. Usf Will Lead the Design and Implementation of the New Training, Select and Support Future Cohorts of Public Health Departments, Provide and Coordinate Technical Assistance, and Collaborate With the Health Program on Evaluation and Learning Activities.$2,500,000
...and 670 more grants made totalling $141,331,642

Who funds Kresge Foundation

Grants from foundations and other nonprofits
GrantmakerDescriptionAmount
Wayne-Metropolitan Community Action AgencyConsulting$20,000
The Neighborhood DevelopersProgram Support$15,000

Personnel at Kresge Foundation

NameTitleCompensation
Richard R Buery StmtTrustee$893,330
Richard Rip RapsonPresident , Chief Executive Officer , Trustee
Rip RapsonPresident and Chief Executive Officer Executive Office
Amy B RobinsonVice President , Chief Financial Officer and Cao , Treasurer
John Barker StmtVice President and Chief Information Officer$28,500
...and 8 more key personnel

Financials for Kresge Foundation

RevenuesFYE 12/2022
Total grants, contributions, etc.$0
Investment income and dividends$3,723,671
Net rental income$0
Net gain from sale of non-inventory assets$233,112,875
Gross sales of inventory$0
Miscellaneous revenues$8,151,617
Total revenues$244,988,163

Form 990s for Kresge Foundation

Fiscal year endingDate received by IRSFormPDF link
2022-122023-11-13990PFView PDF
2021-122022-11-15990PFView PDF
2020-122021-11-15990PFView PDF
2019-122021-06-14990PFView PDF
2018-122020-02-19990PFView PDF
...and 8 more Form 990s
Data update history
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
December 23, 2023
Used new vendors
Identified 2 new vendors, including , and
July 28, 2023
Posted financials
Added Form 990PF for fiscal year 2021
Nonprofit Types
Grantmaking organizationsPrivate 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
2024-11-06
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