The Kresge Foundation is a $3.5 billion private, national foundation that helps to expand opportunities in American cities through grantmaking and investing in:
- arts and culture
- human services
- community development
They aim to help vulnerable populations improve their life circumstances and become part of the economic mainstream. Last year the Kresge Foundation Board of Trustees approved 408 awards totaling $242.5 million. Kresge focuses their efforts in and around cities, where a majority of US populations are concentrated and particularly among those at the mercy of poverty and hardship.
The Kresge foundation follows Sebastian Kresge guiding principle of working to promote human progress. Sebastian Spering Kresge established The Kresge Foundation in 1924 with an initial gift of $1.6 million. Twelve years before then, Kresge and John G. McCrory opened the first five-and-10-cent store – a revolutionary retail store for it’s time which grew into a chain of stores incorporated as the S.S. Kresge Company. Many years later, the enterprise became known as Kmart.
The Kresge foundation’s mission is to “promote human progress by helping improve the lives of poor and low-income children and adults and underserved urban and rural communities.”
For more info on Kresge foundation’s grants and social investments, click here.
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