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Speakers

Rip Rapson

President and Chief Executive Officer

The Kresge Foundation

Rip Rapson, attorney and expert in urban policy, is president and CEO of The Kresge Foundation, a $3 billion national, private foundation based in metropolitan Detroit.

Rapson came to Kresge in 2006 and led the philanthropy in a multiyear transition to expand and recalibrate its grantmaking. Strategically focused programs emerged: arts and culture, education, environment, health, human services, and community development in Detroit, Kresge’s hometown. Each seeks to expand opportunities in America’s cities so that vulnerable people can lead self-determined lives and join the economic mainstream.

Rapson put into practice the use of multiple funding methods, including operating support, project support and program-related investments. Program-related investments, such as loans and loan guarantees, allow Kresge to use its capital in ways that extend beyond traditional grantmaking.

In 2013, the Board of Trustees approved 316 awards totaling $122 million; $144 million was paid out to grantees over the course of the year. In addition, Kresge’s Social Investment Practice made commitments totaling $16 million in 2013. For more information, visit kresge.org.