October 01, 2014 4:54 PM ET

Company Overview of Kresge Foundation, The

Company Overview

The Kresge Foundation is a not-for-profit foundation with over $2.8 billion is assets under management. The foundation was established in 1924 and is based in Troy, Michigan.

3215 West Big Beaver Road

Troy, MI 48007-3151

United States

Founded in 1924

Phone:

248-643-9630

Fax:

248-643-0588

Key Executives for Kresge Foundation, The

Compensation as of Fiscal Year 2014.

Kresge Foundation, The Key Developments

Kresge Foundation, The Appoints Board of Trustees

Kresge Foundation, The announced Cynthia L. Kresge, physician assistant and community leader, and Maria Otero, an economist and former undersecretary of state for the U.S. Department of State, have joined the 11-member board of trustees. Cynthia Kresge is a Fellow of the Michigan Academy of Physician Assistants and the American Academy of Physician Assistants, she is responsible for outpatient care and follow-up of oncology patients at Cancer Care Associates in Royal Oak, Mich. Prior to joining Cancer Care Associates in 2002, Kresge worked at the Karmanos Cancer Institute at the Wayne State University School of Medicine in Detroit. There she coordinated the institutes participation in the Breast Cancer Prevention Trial sponsored by the National Surgical Adjuvant Breast Program and the National Cancer Institute, as well as the Breast Cancer Prevention Program. She is the co-author of 11 medical journal articles and abstracts. Maria Otero brings a wealth of experience to the Kresge Board of Trustees, particularly on behalf of the vulnerable and disadvantaged. Her knowledge of microfinance and economic development will be tremendously beneficial as well. Before joining the state department, Otero was president and CEO of ACCION International.

Kresge Foundation, The Presents at Michigan Growth Capital Symposium 2013, May-21-2013 02:20 PM

Kresge Foundation, The Presents at Michigan Growth Capital Symposium 2013, May-21-2013 02:20 PM. Venue: Marriott Resort at Eagle Crest, 1275 S. Huron Street, Ypsilanti, MI 48197, United States. Speakers: Rob Manilla, Vice President and Chief Investment Officer.

Morgan Stanley, Kresge Foundation, The and the Local Initiatives Support Corporation Launch $100 Million Investment Fund Linking Healthcare and Affordable Housing in Low-Income Communities

Morgan Stanley, Kresge Foundation, The and the Local Initiatives Support Corporation have launched a first-of-its kind $100 million investment fund that is designed to expand access to health care and affordable housing for low-income residents and fund critical social services that help link the two in impoverished neighborhoods. Called the Healthy Futures Fund, it is in part response to the Patient Protection and Affordable Care Act, and the 20 million new health care consumers that the legislation is likely to create. The fund is being seeded with capital to build 500 housing units with integrated health services and to construct eight federally qualified health centers that will serve an estimated 75,000 people. It is designed to spur collaboration among health care providers and housing developers who do not often work together even when they operate in the same low-income neighborhoods and serve the same people. The fund is utilizing federal Low Income Housing Tax Credits, federal New Markets Tax Credits, grants, loans and guarantees to raise capital. Morgan Stanley is investing $63 million in equity through the Low Income Housing and New Markets Tax credits. The Kresge Foundation, LISC and Morgan Stanley are providing another $37 million in loan and grant capital for the projects. The fund expects to expand in the coming months with additional New Markets Tax Credits and lending capital from new partners. Organizations already signed on include National Development Council, NCB Capital Impact, Capital Link, Primary Care Development Corporation, Mercy Loan Fund and Opportunity Finance Network.

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