The establishment of the foundation becomes public in May when it announces that S.S. Kresge has contributed additional monies (via 500,000 common shares of S.S. Kresge Co. stock), valued at $22 million, to the organization. According to May 1926 news clips, “Mr. Kresge indicated he would make additional gifts to maintain a perpetual fund for charity.” The foundation is established as a “trustees corporation” for charitable, educational and philanthropic purposes.