Name of Foundation: The Kresge Foundation
Location: Troy, Michigan
Contact info: www.kresge.org Phone: (248) 643-9630
Coverage Area: United States
Subject Area: Arts and Culture, Community Development, Detroit, Education, Environment, Health, Human Services
Assets: $3.1 billion (2011)
Last Year Total Giving: $134 million (2011)
In a nutshell: The Kresge foundation was started in 1924 by Sebastian Spering Kresge, a founder of the S.S. Kresge Company, the first five-and-dime model store that became the Kmart Corp. in 1977.
Kresge remained involved in the foundation until his death in 1966. The foundation began with the broad mission to “promote human progress,” and has since settled on seven programs.
The foundation diversifies its giving by partnering with small, mid-size and large nonprofit organizations, intermediaries, and the public and private sectors.
The majority of Kresge’s grant making used to come in the form of challenge grants for construction or restoration of buildings and facilities. That ended in 2007, when President Rip Rapson announced that the foundation would move toward more funding for core support grants and program-related investments (low-interest loans for organizations).
How to Apply:
Each program area of the Kresge foundation has its own application procedures. Some of the grants are by invitation only, while others require a preliminary application, with a narrative explanation of the proposed work. For more information on the Kresge foundation’s funding process, click here.
Recent News and Grantmaking: