The Kresge Foundation
in Troy, United StatesCategory: Attraction
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3215 W Big Beaver Rd, Troy, MI 48084, USA Print route »
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The Kresge Foundation is a U.S. philanthropic private foundation headquartered in Troy, Michigan. The foundation works to expand opportunities in America’s cities through grantmaking and investing in arts and culture, education, environment, health, human services and community development efforts.In 2013, the foundation's Board of Trustees approved 316 awards totaling $122 million; $128 million was paid out to grantees over the course of the year. Kresge's Social Investment Practice made another $17.7 million available to organizations whose effortssupport foundation goals through program-related investments.Kresge has practiced strategic philanthropy since completing a historic transition that began in 2007. Long known for its exclusive use of the challenge grant to help local communities raise funds for major construction and renovation projects, it now employs an array of funding methods to address and advance a set of narrowly defined programmatic objectives. It awards grants and makes program-related investments. Some grants are awarded for a single year; others are for multiple years. Some of its programs accept applications on an ongoing basis. Others proactively invite or solicit applications.
In January 2013, the foundation pledged $150 million to aid in the implementation of a long-ranging, comprehensive framework for Detroit's future, also known as The Detroit Future City plan.Since July 1, 2006, the foundation has been led by Rip Rapson, formerly of the McKnight Foundation. He succeeded John Marshall III as president and CEO.
