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Detroit News Heralds Kresge As a Local Leader for Urban Revitalization

General Foundation News

Reporter says Kresge’s “fingerprints” appear on nearly every major venture in the city.

TROY, MICHIGAN – In a front-page newspaper story, the Detroit News heralded The Kresge Foundation, led by President Rip Rapson, as “one of the largest and most-active donors among charitable foundations in Detroit.”

News writer and author Michael H. Hodges stated, “Today, it’s hard to find a major Detroit venture without Kresge’s fingerprints on it.” His article, “Kresge Foundation Steps Up Gifts to Detroit Causes,” appeared on June 30, 2009.

Read the full article: Kresge Foundation Steps Up Gifts to Detroit Causes.

Hodges reported that Kresge, which has $2.8 billion in assets and last year distributed $181 million, made a commitment to double its annual investment in the city of Detroit. That funding allotment, representing nearly 17 percent, or $31 million, has put real muscle behind a wide range of economic, infrastructure, art, and education initiatives, including the M1Rail project, Kresge Arts in Detroit, the Detroit Neighborhood Forum, and the renovation of Eastern Market.

In the article, the foundation was saluted for its willingness to take calculated risks; to collaborate with other foundations and public/private partners; and to piggyback on existing economic-development projects.

Hodges credited Rapson for turning the foundation’s focus back to its urban origin. “Rapson, with his Minneapolis roots, is an unapologetic urban fundamentalist who sees reviving the central city as the inevitable first step toward a greater whole,” the News writer observed. Prominent Detroiters from the philanthropic and nonprofit sectors, who were quoted in the article, also commented favorably on Kresge’s philanthropic dedication to advocacy, public policy, and investing in people, programs and organizations.

“Such outlays go to the heart of the belief shared by Rapson and Detroit Team leader Laura Trudeau that building on small successes is the surest way to stitch together a healthy city,” Hodges concluded.