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How This 100-Year-Old Foundation Helped Save Detroit
Foundation: Gates Foundation, Rockefeller Philanthropy Advisors, Kresge Foundation, Rockefeller Foundation
Detroit's Kresge Foundation turned 100 this month, and while the foundation's $4.3 billion endowment is sizable, it's less than a tenth of the size of the Bill and Melinda Gates Foundation, per Rockefeller Philanthropy Advisors.
Still, the foundation, named after Kmart founder Sebastian Spering Kresge, is known for its work in cities around the world, including a $100 million contribution to Detroit's "Grand Bargain" to help the city out of bankruptcy in 2013, reports the Detroit Free Press.
Kresge President Rip Rapson tells Fortune that the foundation's focus has shifted in recent years from infrastructure projects to helping cities and communities in need.
"We want to be a force for good in the world," he says.
"We don't want to be in the business of trying to solve the problems of the world.
We want to be in the business of helping people solve the problems of the world."
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Childcare Charitable Group Named Top Social Enterprise
Employers For Childcare Charitable Group (EFCG), a Lisburn-based charity, has been crowned top Social Enterprise at the Ulster Final of 2014’s Ulster Bank Business Achievers Awards. EFCG seeks to “make it easier for parents with dependent children to get into work and to stay in work.”