Kresge Foundation

The Kresge Foundation is a left-of-center advocacy-philanthropic organization based in Troy, Michigan. The organization funds organizations which advocate left-of-center policy on immigration, environmentalism, and social justice issues. As of 2023, the organization holds almost $4 billion in net assets, 1 making it one of the largest private foundations in the country. 2

At-A-Glance

Website: kresge.org
Formation:

1924

President and CEO:

Rip Rapson

Location: Troy, MI View on map
Tax ID: 38-1359217
Most Recent Filing: 2024
Budget (2024): Assets: $3,984,695,361 Revenue: $61,261,641 Expenses: $214,406,587

Contents

    The Kresge Foundation was founded in 1924 with an initial gift of $1.6 million from Sebastian Spering Kresge. Kresge was the founder of the S.S. Kresge Company which started as a small chain of convenience stores which grew into what is now known as the Kmart Corporation. Kresge chaired the Kresge Foundation for a short while after its founding before serving as treasurer until his death in 1966. Kresge donated over $60 million to the organization by the time of his death. The original intention of the Kresge foundation was to focus on education issues mainly in the city of Detroit. 3

    The Kresge Foundation changed paths from the original intentions of S.S. Kresge in 2006 when they began a “multiyear transition to redefine” the foundation. Elaine D. Rosen, chair of the board of trustees for the Kresge Foundation, claimed that the organization needed to redefine itself as a “strategic philanthropy in order to stay relevant in the 21st century.” The organization now funds organizations that promote liberal and left-of-center issues. 3

    In September 2025, the Kresge Foundation announced it would relocate its headquarters from Troy, Michigan, to the Marygrove Conservancy campus in northwest Detroit. The move, scheduled for completion in 2028, is part of a $180 million commitment that includes $130 million in headquarters construction and campus improvements and $50 million in neighborhood-focused initiatives. The investments build on Kresge’s long-standing work in Detroit, including nearly $400 million directed to the Livernois-McNichols corridor since 2015. As part of the relocation, the foundation is partnering with community organizations such as the Live6 Alliance to support affordable housing, home repair, rental assistance, and local economic development while aiming to avoid resident displacement. 4

    Advocacy

    Environmental Initiatives

    The Kresge Foundation has funded several environmentalist initiatives, from localized organizations to larger foundations including the Tides Foundation. The Kresge Foundation has also supported left-of-center environmentalist groups including the Island Press Urban Resilience Project, which has also advocated in favor of the Green New Deal legislative plan. 5 6

    In 2023, Kresge provided a $3 million loan guarantee to assist with a weather-dependent energy initiative by Ithaca, New York to become carbon-neutral by 2030. Joe Evans, portfolio director for Kresge’s Social Investment Practice, stated that the support was due to the media attention behind BlocPower, a weather-dependent energy start-up company taking part in Ithaca’s initiative, and its founder Donnel Baird. Evans stated, “It was a for-profit company owned by a Black man. The board was diverse, the staff was diverse. Their focus was on improving the quality of life and operating expenses for housing where lower-income people and communities of color live…There was a fair amount of alignment.” 7

    Kresge is a funder of Inclusive Prosperity Capital, which received a $249.3 grant from the Environmental Protection Agency to provide solar energy to “low-income and disadvantaged communities” or LIDACs. 8

    Kresge funds the Urban Sustainability Directors Network, which advocates for local institutions to adopt  weather-dependent energy sources. Kresge sent an $800,000 grant to the Network in 2025. 9

    In February 2021, Kresge joined the Donors of Color Network campaign to take Climate Funders Justice Pledge (CFJP) to pledge more than 30 percent of U.S. climate change funding to groups led by racial minorities. In April 2023, Kresge claimed that it donated 39.1 percent of its funding and had helped the campaign raise over $120 million in total for those groups. 10

    In August 2022, Kresge supported a proposed Securities and Exchange Commission rule to require regular disclosure of climate related information, including greenhouse gas emissions. 11

    In April 2023, Kresge’s senior program officer of the environment program Jessica Boehland released a series of book recommendations which included Greta Thunberg’s The Climate Book: The Facts and the Solutions, The Nutmeg’s Curse: Parables for a Planet in Crisis by Amitav Ghosh, Overheated: How Capitalism Broke the Planet—and How We Fight Back by Kate Aronoff, and Reconsidering Reparations by Olufemi O. Tawo, which advocated reparations for slavery. 12

    In June 2024, Kresge published an op-ed claiming that nurses “are well-positioned to provide reliable, evidence-based information on both [health and climate change].” The op-ed advocated for more funding towards nurses’ groups to fight climate change through advocacy of more government regulations and implementing environmentalist approved policies in health care. 13

    In December 2024, Kresge helped Sunwealth close a $30 million loan with Goldman Sachs Alternatives to develop environmentalist approved, weather-dependent energy. Kresge put up a $3 million non-funded guarantee to get the loan approved. The project is targeted towards “disadvantaged” communities. 14

    In April 2025, Kresge’s Shamar Bibbins and Monica Valdes Lupi published an article which claimed that climate change was a public health crisis. The article also went on to claim, “climate resilience, public health, and racial equity are deeply interconnected.” 15

    Kresge Foundation was reported as being among the top 30 funders of members of Louisianans Against False Solutions (LAFS), a coalition of weather-dependent energy advocacy groups. Kresge gave $3,827,000 to LAFS groups between 2020 and 2025. 16

    Immigration

    The Kresge Foundation has amassed a recent history of supporting initiatives that protect and promote illegal immigration into the United States. In September 2019, a report funded in part by the Kresge Foundation was released that focused on illegal immigrants in the Midwest. The report identified lack of access to services, poor public perception, insufficient funding, and lack of “strategic funding focus” as “critical issues” to illegal immigrants and refugees. The Kresge Foundation, Grantmakers Concerned with Immigrants and Refugees, and The Community Foundation for Southeast Michigan founded the Southeast Michigan Immigrant and Refugee Funder Collaborative in response to their findings. 17

    Biden Community Violence Intervention Collaborative

    In June 2021, the Biden administration announced a program to combat rising gun violence and violent crime using a collaborative composed of government and nonprofit organizations funding community violence intervention (CVI) measures. The Kresge Foundation was reported to be a major funder of the collaborative alongside the California Endowment, the Annie E. Casey Foundation, the Ford Foundation, the Joyce Foundation, and the Kellogg Foundation. Other foundations funding the initiative include the MacArthur Foundation, Arnold Ventures, the Emerson Collective, the Heising-Simons Foundation, George Soros’ Open Society Foundations, and the Charles and Lynn Schusterman Family Philanthropies. CVI strategies “act as an alternative to heavy-handed policing” by focusing its efforts on the minority of citizens who are perpetrators or targets of violent crime. CVI treats violence as a communicable disease rather than a violent crime and attempts to stop the “spread” of violence. 18

    DEI Programs

    On its website, the Kresge Foundation has statement on its website claiming, “Since this country’s inception, every facet of community life has been shaped by pervasive, enduring, corrosive, and invidious structural and institutional impediments to racial equity and racial justice.”  19

    In 2018, Kresge joined the Open Society Foundations, Ford Foundation, and Surdna Foundation in creating the Amplify Fund to fund groups run by racial minorities. In December 2022, Kresge donated another $2 million to the fund, which had distributed $14 million by then. 20

    In May 2021, Kresge president and CEO Rip Rapson published an article on the one-year anniversary of George Floyd’s death praising the “1619 Project” media initiative. 21

    In October 2021, Kresge announced that it would close its offices on Columbus Day to honor “Indigenous People’s Day” while publishing a “land acknowledgement.” 22

    In May 2024, Kresge published an article claiming to support DEI efforts and further stating, “the work to advance DEI is central to our mission and must be central to our way of working across the organization.”  23

    In September 2024, Kresge made a $1.1 million grant to Build Healthy Places Network “to tackle structural racism and health inequities in disinvested communities across the country.”  24

    Education

    In May 2021, Kresge published an article in support of then-President Joe Biden’s proposal for tuition-free community college claiming there had been an overall decline in college enrollment. 25

    In April 2024, Kresge published an article supporting then-President Biden’s plans to forgive student loan debt for borrowers.  The article claimed that states “de facto privatized” universities by cutting funding and that racial minorities were more likely to have larger student loans due to “historical and structural racism.”  26

    Leadership

    Rip Rapson is the president and CEO of the Kresge Foundation. Prior to this, Rapson worked as a legislative assistant for the late former U.S. Representative Donald M. Fraser (D-MN). Rapson later served as a deputy mayor of Minneapolis and as the president of the McKnight Foundation, a left-of-center philanthropic organization 27

    Aaron Seybert is the managing director for the Social Investment Practice at the Kresge Foundation. He joined in 2016, working as a social investment officer for Kresge’s American Cities and Detroit Programs project. Prior to Kresge, he worked at several impact investment companies, including Cinnaire and the Legal Aid of Central Michigan, before serving as the executive director of JPMorgan Chase Bank. 28

    John A. Barker is the Vice President and Chief Investment Officer for the Kresge Foundation. Starting with the company in 2007, he previously worked in Kresge’s senior investment team. Prior to Kresge, he was the assistant investment director of the University of Notre Dame’s investment office for five years. 29

    Cecilia Munoz is the board chair of the Kresge Foundation. She joined the board of trustees in 2017. She began her career at UnidosUS and eventually became director of the domestic policy council in the Obama administration. After leaving the White House, she joined the New America think tank and joined its board of directors in 2023. She is a senior fellow at Results for America, a trustee of the Joyce Foundation and MacArthur Foundation, sits on the advisory boards of the Open Society Foundations and JPB Foundations, and sits on the boards of Protect Democracy and Civic Nation. 30

    Funding

    According to the Kresge Foundation’s 2023 tax return, the group had $279,706,042 in revenue, $236,434,347 in expenses, and $4,065,070,521 in assets. The group gave $185,027,660 in grants. 31

    In 2023, New Venture Fund, a nonprofit managed by consulting firm Arabella Advisors, received a $2.15 million grant from the Kresge Foundation. One of the nonprofit’s sister organizations Windward Fund also received a $600,000 grant that year. 31

    As of April 2024, the Kresge Foundation donated at least $1 million to the NPR Foundation, which supports National Public Radio (NPR). 32

    Financial Statistics

    Total Assets

    Total Revenue

    Total Expenses

    YearTotal AssetsTotal RevenueTotal ExpensesFiling
    2024 $3,984,695,361 $61,261,641 $214,406,587 View
    2023 $4,065,070,521 $279,706,042 $236,434,347 View
    2022 $4,041,565,416 $244,988,163 $214,603,451 View
    2021 $4,659,732,301 $373,549,633 $238,258,079 View
    2020 $4,221,623,029 $288,149,512 $168,618,328 View

    Prior year filings: 2015, 2014, 2013, 2012, 2011

    Expenses Detail

    Employee Compensation

    Highest Earning Employees

    EmployeeTitleTotal Compensation
    John Barker Stmt 24VP & CIO$1,192,304
    Richard Rip Rapson Stmt 24PRESIDENT, CEO, TRUSTEE$946,698
    Jon Gentry Stmt 25INVESTMENT MANAGING$787,348
    Venus Phillips Stmt 25INVESTMENT MANAGING$682,731
    Elizabeth Goldsberry Stmt 25RISK & OPER MANAGING$635,757
    Amy B Robinson Stmt 24VP, CFO & CAO, TREASURER$548,209
    Benjamin S Kennedy Stmt 24VP, PROGRAMS$452,036
    Aaron Seybert Stmt 25MANAGING DIRECTOR$426,293
    Zenna Elhasan Stmt 24GENERAL COUNSEL & BOARD SECRETARY$394,670
    Debra Kozole Stmt 25INVESTMENT DIRECTOR$369,413
    Cecilia Munoz Stmt 24BOARD CHAIR, TRUSTEE$43,500
    Richard R Buery Jr Stmt 24TRUSTEE$28,500
    Audrey Choi Stmt 24TRUSTEE$28,500
    John A Fry Stmt 24TRUSTEE$28,500
    Saunteel Jenkins Stmt 24TRUSTEE (ENDED 12/24)$28,500
    Kathy Ko Chin Stmt 24TRUSTEE$28,500
    S Scott Kresge Stmt 24TRUSTEE$28,500
    Paula B Pretlow Stmt 24TRUSTEE$28,500
    Suzanne Shank Stmt 24TRUSTEE$28,500
    James L Bildner Stmt 24TRUSTEE (ENDED 6/24)$14,250
    Maria Otero Stmt 24TRUSTEE (ENDED 6/24)$14,250
    Anna Blanding Stmt 24TRUSTEE (BEGAN 6/24)$14,250
    Linda Hill Stmt 24TRUSTEE (BEGAN 6/24)$14,250

    Grant Activity

    All-time grants received statistics from Candid dataset:

    • Total Grant Value: $145,250
    • Number of Grants: 4
    • Number of Funders: 4

    Selection of highest value grants received from the last seven years:

    AmountYearFunderSubject
    $25,0002023 Tides CenterEQUITY, HUMAN RIGHTS, AND ECONOMIC EMPOWERMENT
    $20,0002023 Wayne – Metropolitan Community Action AgencyCONSULTING
    $15,0002022 The Neighborhood DevelopersPROGRAM SUPPORT

    All-time grants given statistics from Candid dataset:

    • Total Grant Value: $3,389,747,021
    • Number of Grants: 7,701
    • Number of Recipients: 3,262

    Selection of highest value grants given from the last seven years:

    AmountYearFunderSubject
    $22,000,0002021 Marygrove ConservancyTo guarantee a line of credit provided to Marygrove Conservancy to complete construction on Marygrove Highschool and begin construction on Marygrove lower and middle schools.
    $17,715,6002020 Marygrove Conservancy
    $17,250,0002024 Marygrove ConservancyTo guarantee construction completion, Marygrove’s loan interest payments, and cover costs of default, and to generate roughly $6.2 million in forgivable equity for the conservancy.
    $14,847,4412022 Marygrove Conservancy
    $14,000,0002021 Marygrove ConservancyThe Marygrove Conservancy, Kresge, and PNC Bank have structured a historic tax credits financed transaction to complete the renovation of Marygrove’s Liberal Arts building which houses the middle school and high school.
    $10,000,0002021 Invest Detroit FoundationTo make equity and quasi-equity investments into Detroit based real estate developers with the intention of building their capacity and accelerating their ability to scale
    $10,000,0002020 Detroit AHLF-CDFI Fund
    $9,000,0002021 United Community Housing CoalitionTo guarantee a line of credit provided to UCHC to fund Federal Rental Assistance advances prior to reimbursement from Michigan’s Housing Development Authority
    $7,500,0002022 University of South FloridaTo 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.
    $6,000,0002021 New Venture FundThis project grant supports the New Venture Fund to serve as the intermediate for a funder collaborative focused on culture and creativity as drivers of equitable community change.
    $6,000,0002020 Pathway Lending (Southeast Community Capital Corporation)To support the financing for mixed-use multifamily development in the Memphis Medical District.
    $5,000,0002024 Reinvestment FundTo support the HBCU Readiness Fund in providing low-cost capital to HBCUs to address deferred maintenance issues and the implementation of solar technology.
    $5,000,0002024 The Barack Obama FoundationTo support the Obama Foundation’s multi-faceted efforts to inspire, empower, and connect young people and civic leaders to expand opportunity in cities across the country; serve as a catalyst for community development in Chicago; and provide an example for development in other communities.
    $5,000,0002023 Enterprise Community Partners, Inc.This grant provides support to Enterprise Community Partners for its CDO Fund that will provide operating support to Detroit community development organizations for three years.
    $5,000,0002022 Invest Detroit FoundationThis grant provides continued project support for the second round of Invest Detroit’s Strategic Neighborhood Fund for equitable and inclusive revitalization efforts in Detroit’s neighborhoods.
    $5,000,0002020 PosiGen, Inc.To ensure that communities of color and communities suffering from disinvestment are able to access the promise of a transition to cleaner energy production.
    $4,600,0002022 Detroit, City of
    $4,500,0002020 Enterprise Community Partners, Inc.This grant provides support to Enterprise Community Partners for a CDO Fund that will provide operating support to Detroit community development organizations for three years.
    $4,178,5002024 Community Foundation for Southeast MichiganThis grant will fund the Kresge Education Fund, a donor advised fund at the Community Foundation of Southeast Michigan, which will house general operating support funding for the Marygrove Conservancy.
    $3,514,5002023 CultureSourceTo provide support to CultureSource for the 2024 and 2025 implementation of key programmatic functions for the Detroit Arts Support initiative.
    $3,500,0002023 Reinvestment FundTo address systemic issues experienced by HBCUs by increasing their financial access and capacity
    $3,500,0002021 Invest Detroit FoundationTo credit enhance investors’ investments that will be lent to Detroit nonprofits and small businesses impacted by COVID-19
    $3,448,0002021 COLLEGE FOR CREATIVE STUDIESTo contribute to the vibrancy of Detroit communities by providing critical support to individual artists in the tri-county region.
    $3,333,0002023 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.
    $3,225,0002023 Center for Community InvestmentTo provide operating support to the Center for Community Investment, which works to overcome historic patterns of disinvestment to improve economic opportunity and racial equity.

    References

    1. Kresge Foundation, Return of a Private Foundation (Form 990-PF), 2023, Part III Line 6 https://projects.propublica.org/nonprofits/organizations/381359217/202413199349106071/full
    2. “Foundation Stats: Guide to the Foundation Center’s Research Database – Foundation Center.” Foundation Stats: Guide to the Foundation Center’s Research Database – Foundation Center. Accessed September 25, 2019. http://data.foundationcenter.org/#/foundations/all/nationwide/top:assets/list/2015.
    3. “Who We Are.” The Kresge Foundation. Accessed September 5, 2019. https://kresge.org/who-we-are.
    5. “US remains stagnant in climate change vulnerability and readiness, new data show.” University of Notre Dame. Accessed September 7, 2019. https://news.nd.edu/news/us-remains-stagnant-in-climate-change-vulnerability-and-readiness-new-data-show/.
    6. “Urban Resilience Project.” Island Press. Accessed September 10, 2019. https://islandpress.org/urban-resilience-project.
    7. Harris, Lee. “Wall Street’s Big Bet on Rewiring America.” The American Prospect (TAP), January 23, 2023. https://prospect.org/environment/2023-01-23-wall-street-rewiring-america-ithaca-green-new-deal/
    8. Braun, Ken. “Low-Quality Energy for the Lidacs and $21.8 Billion in Waste from the EPA.” Capital Research Center, January 16, 2025. https://capitalresearch.org/article/low-quality-energy-for-the-lidacs-and-21-8-billion-in-waste-from-the-epa/.
    9.  Witty, Elizabeth. “As Federal Cuts Threaten Climate Progress, Work to Advance Clean Energy Is Still Happening in Cities.” Kresge Foundation, April 17, 2025. https://kresge.org/news-views/as-federal-cuts-threaten-climate-progress-work-to-advance-clean-energy-is-still-happening-in-cities/.
    10. Welch, Kaniqua. “Climate Funders Justice Pledge Increases Funding Baseline for BIPOC-Led Justice Groups to $120m in Two Years.” Kresge Foundation, April 26, 2023. https://kresge.org/news-views/climate-funders-justice-pledge-increases-funding-baseline-for-bipoc-led-justice-groups-to-120m-in-two-years/.
    11. Stilson, Robert, and Jonathan McGee. “The Groups Supporting the SEC’s Proposed Climate Change Regulation.” Capital Research Center, August 15, 2022. https://capitalresearch.org/article/the-groups-supporting-the-secs-proposed-climate-change-regulation/.
    12. Boehland, Jessica E. “Recommended Reading List for Earth Day Offers New Perspectives on the Climate Crisis  .” Kresge Foundation, April 20, 2023. https://kresge.org/news-views/recommended-reading-list-for-earth-day-offers-new-perspectives-on-the-climate-crisis/
    13. Huffling, Katie. “Op-Ed: In a Warming World, Nurses Heal People and the Planet.” Kresge Foundation, June 25, 2024. https://kresge.org/news-views/op-ed-in-a-warming-world-nurses-heal-people-and-the-planet/.
    14. “Sunwealth Closes $30m Construction Loan to Broaden Energy Access in Underserved Communities.” Kresge Foundation, December 5, 2024. https://kresge.org/news-views/sunwealth-closes-30m-construction-loan-to-broaden-energy-access-in-underserved-communities/.
    15. Lupi, Monica Valdes, and Shamar Bibbins. “The Climate Crisis Is a Public Health Crisis – We Need to Treat It like One.” Alliance magazine, April 8, 2025. https://www.alliancemagazine.org/analysis/climate-crisis-is-a-public-health-crisis/.
    16. Petite, Sydney. “Pelican Institute Releases New Report Exposing $115 Million in Outside Funding and Outdated Policies Blocking Louisiana Energy Dominance.” Pelican Policy, March 13, 2026. https://pelicanpolicy.org/press-release/barriers-to-louisiana-energy-dominance/.
    17. “Report identifies 4 critical issues facing immigrants, refugees in Southeast Michigan.” Click on Detroit. Accessed September 6, 2019. https://www.clickondetroit.com/news/report-identifies-4-critical-issues-facing-immigrants-refugees-in-southeast-michigan.
    19. “Equity Statement.” Kresge Foundation. Accessed May 19, 2025. https://kresge.org/resource/equity-statement/.
    20. McLaughlin, Kate. “New $2 Million Grant to Amplify Fund Aims to Shift Power and Resources to BIPOC Communities.” Kresge Foundation, December 1, 2022. https://kresge.org/news-views/new-2-million-grant-to-amplify-fund-aims-to-shift-power-and-resources-to-bipoc-communities/.
    21. Rapson, Rip. “Rapson: Reflecting on George Floyd’s Murder and the Continued Pursuit of Full Racial Justice.” Kresge Foundation, May 25, 2021. https://kresge.org/news-views/rapson-reflecting-on-george-floyds-murder-and-the-continued-pursuit-of-full-racial-justice/.
    22. Rapson, Rip. “Kresge Offices to Close on Indigenous Peoples’ Day.” Kresge Foundation, October 8, 2021. https://kresge.org/news-views/kresge-offices-to-close-on-indigenous-peoples-day/.
    23. Welch, Kaniqua. “Looking Back: Kresge’s Path toward a Deeper Embrace of Diversity, Equity and Inclusion.” Kresge Foundation, May 30, 2024. https://kresge.org/news-views/looking-back-kresges-path-toward-a-deeper-embrace-of-diversity-equity-and-inclusion/.
    24. “$1.1m Grant to Build Healthy Places Network to Advance Racial Equity in Community Investments.” Kresge Foundation, September 5, 2024. https://kresge.org/news-views/1-1m-grant-to-build-healthy-places-network-to-advance-racial-equity-in-community-investments/.
    25.  Smith, Edward, and Laura Perna. “College Enrollment Declines Highlight the Need for Biden’s Tuition-Free Community College Plan.” Kresge Foundation, May 3, 2021. https://kresge.org/news-views/college-enrollment-declines-highlight-the-need-for-bidens-tuition-free-community-college-plan/.
    26. Moses, William F.L. “College Affordability, Student Debt Repayment and the Need for New Systems.” Kresge Foundation, April 11, 2024. https://kresge.org/news-views/college-affordability-student-debt-repayment-and-the-need-for-new-systems/.
    27. “Rip Rapson.” Kresge Foundation. Accessed September 4, 2019. https://kresge.org/who-we-are/rip-rapson
    28. “Aaron Seybert.” Kresge Foundation, Accessed March 21, 2023. https://kresge.org/person/aaron-seybert/
    29. “John A. Barker.” Kresge Foundation, Accessed March 21, 2023. https://kresge.org/person/john-a-barker/
    30. “ Cecilia Muñoz.” Kresge Foundation. Accessed May 19, 2025. https://kresge.org/person/cecilia-munoz/.
    31. “Kresge Foundation, Full Filing – Nonprofit Explorer.” ProPublica. Accessed May 19, 2025. https://projects.propublica.org/nonprofits/organizations/381359217/202413199349106071/full.
    32. Watson, Michael. “The Institutional Revolution at National Public Radio.” Capital Research Center, April 18, 2024. https://capitalresearch.org/article/the-institutional-revolution-at-national-public-radio/.