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A CENTURY OF IMPACT, A FUTURE OF OPPORTUNITY

2023 Annual Report

Introduction

2023 marks a momentous milestone: our Centennial—a century dedicated to fostering opportunities across the United States and the world. In this special annual report, we present a unique experience: four pop-ups that bring to life iconic landmarks from the cities of Detroit, Memphis, New Orleans and Fresno. These symbolize our deep-rooted commitment to these cities and highlight the cultural and historical richness that defines them. We also share Kresge’s history through 100 moments of impact. Explore the samples online or download or request the book to read them all.

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Select Stories of Impact

These 10 stories exemplify the report’s full contents, which trace the foundation’s history from our origins to our work today. Today, Kresge works at the intersection of cities and equity fueled by the idea that all people and communities should thrive and that systems must change to account for disparities in outcomes along lines of race, income and other demographic factors. Each of the these stories was only made possible because of our partners. These stories are emblematic of thousands of partnerships over this last century.

  • The Foundation’s First Gift
  • UNCF
  • Statue of Liberty
  • Campus Martius Park
  • Fresh, Local & Equitable (FreshLo)
  • Memphis Riverfront
  • NextGen
  • Climate Change, Health & Equity
  • Community Investment Guarantee Pool
  • Racial Justice Response

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2023 Financials

Our primary investment objective is to preserve and grow our endowment by generating returns greater than our spending on grants, social investments, administrative costs and inflation. We believe measuring our performance over market cycles of at least five years is appropriate. For the five years ending December 31, 2023, the endowment returned 7.4% annually, below our spending plus inflation target of 9.6%.

Endowment & Qualified Spend 2017-2023

Total New Grant Committments

Historical Grantmaking & Endowment

2008-2023 Kresge Social Investments