Ewing Marion Kauffman Foundation

Last updated
Ewing Marion Kauffman Foundation
Founded1966
Founder Ewing Marion Kauffman
FocusEntrepreneurship and education
Location
MethodResearch and grant making
Key people
DeAngela Burns-Wallace, President and CEO [1]
Revenue (2022)
$112,688,316 [2]
Expenses (2022)$192,849,743 [2]
Endowment US$2.7 billion
Employees
85 [3]
Website https://www.kauffman.org/

The Ewing Marion Kauffman Foundation (Kauffman Foundation) is a registered 501(c)(3) nonprofit, private foundation based in Kansas City, Missouri. [4] It was founded in 1966 by Ewing Marion Kauffman, who had previously founded the drug company Marion Laboratories. The Kauffman Foundation works with communities to build and support programs that boost entrepreneurship, improve education, and contribute to the vibrancy of Kansas City.

Contents

The Kauffman Fellows Program, known for supporting diversity in the field of venture capital, originated from the Kauffman Foundation. In a statement quoted by TechCrunch, fellows said that they “have measured the importance of a trusted diverse network and how it impacts the success and longevity of the best investors in the industry. Research has shown that Kauffman Fellows not only have larger returns than the industry average, but they stay in the industry 15+ years post-fellowship, which is 2X the minimum number of years it takes to recognize success in venture capital.” [5]

Overview

The Ewing Marion Kauffman Foundation is a private, nonpartisan foundation that works with communities in education and entrepreneurship to increase opportunities that allow all people to learn, take risks, and own their success. The Kauffman Foundation is based in Kansas City, Missouri, and uses its $2.6 billion in assets to collaboratively help people be self-sufficient, productive citizens. Its grantmaking and research activities are focused on advancing entrepreneurship, [6] improving education, [7] and supporting civic development in Kansas City. [8]

History

In 2002, academic and entrepreneur Carl Schramm left a Maryland healthcare consulting firm to serve as president of the foundation until his resignation in 2012. [9] [10] Schramm's tenure was marked by conflicts over the foundation's mission and grant-making strategy, and he faced criticism for focusing on maximizing impact by awarding larger grants to fewer recipients and for de-emphasizing work in and around Kansas City. [11] Conflict also arose over the extent of his executive authority, which prompted the Missouri Attorney General to recommend that the foundation strengthen its conflict of interest provisions and give the board of directors more decision-making authority. [12]

In May 2022, EMKF announced a partnership and $10 million donation with the national community development initiative, Living Cities. The partnership saw the launch of a $100 million fund aimed at addressing the underinvestment in Black, indigenous, and people of colour communities. [13]

Related Research Articles

<span class="mw-page-title-main">Ewing Kauffman</span> American pharmaceutical entrepreneur (1916–1993)

Ewing Marion Kauffman was an American pharmaceutical entrepreneur, philanthropist, and Major League Baseball owner.

The National Association for Community College Entrepreneurship (NACCE) is a non-profit membership organization founded in 2002 on the campus of Springfield Technical Community College in Springfield, Massachusetts. It is an organization of educators, presidents, and entrepreneurs.

<span class="mw-page-title-main">Metropolitan Community College (Missouri)</span>

Metropolitan Community College (MCC) is a public community college system in the U.S. state of Missouri. The system consists of five separate campuses in Kansas City, Independence, and Lee's Summit. The campuses had a total enrollment of 15,770 in 2019. Their athletic teams are known as the Wolves.

<span class="mw-page-title-main">Muriel Kauffman</span>

Muriel Irene McBrien Kauffman was a civic leader and philanthropist in Kansas City, Missouri. She was the wife and partner of Ewing Kauffman. Ewing and Muriel worked together at Marion Labs and were the founding owners of the Kansas City Royals baseball team.

<span class="mw-page-title-main">Kauffman Center for the Performing Arts</span> American performing arts center

The Kauffman Center for the Performing Arts is in downtown Kansas City, Missouri, USA, at 16th and Broadway, near the city's Power & Light District, the T-Mobile Center and the Crossroads Arts District. Opened in 2011, it houses two venues: the 1,800-seat Muriel Kauffman Theatre, home of the Kansas City Ballet and Lyric Opera of Kansas City; and the 1,600-seat Helzberg Hall, home of the Kansas City Symphony Orchestra. Both venues host a variety of artists and performance groups in addition to these three resident entities.

<span class="mw-page-title-main">Legatum</span> Private investment firm headquartered in Dubai

Legatum Limited, also known as Legatum, is a private investment firm, headquartered in Dubai, United Arab Emirates. Legatum is a partnership that uses its own funds to invest globally. The firm also invests in activities to promote entrepreneurship and free enterprise as well as anti-slavery, health and education initiatives.

Global Entrepreneurship Week (GEW) is an international initiative that introduces entrepreneurship to young people in six continents. GEW emerged in 2008 as a result of Enterprise Week UK and Entrepreneurship Week USA 2007. Since its creation, more than 10 million people from roughly 170 countries have participated in entrepreneurship-related events, activities and competitions during GEW.

<span class="mw-page-title-main">Carl Schramm</span> American economist (born 1946)

Carl J. Schramm is an American economist, entrepreneur, author, former President of the Ewing Marion Kauffman Foundation, and University Professor at Syracuse University. He is the author of the book Burn the Business Plan: What Great Entrepreneurs Really Do, published by Simon & Schuster. The Economist named Schramm the "evangelist of entrepreneurship".

The Kauffman Fellowship is a two-year educational, networking, and leadership development program for venture capitalists. It was named after Ewing Marion Kauffman. The Kauffman Fellows Program is a nonprofit with a 20-year history of identifying, educating, mentoring and networking future venture capitalists. As of 2011, it had graduated more than 250 fellows, who have worked at venture firms in the U.S. and internationally.

<span class="mw-page-title-main">Startup Weekend (organization)</span> Entrepreneurship competitive event

A Startup Weekend is a 54-hour entrepreneurship educational competitive event, in which groups of participants form teams around ideas the Friday evening, and work during the weekend to develop a working prototype, demo, and VC presentation by Sunday evening. Startup Weekend is a hackathon-like event with a global presence. As of December 2016, it has reached 135 countries, involving over 210,000 entrepreneurs. Upon its 2015 acquisition, Startup Weekend, alongside Startup Week and StartupDigest, became one of the Techstars family of startup programs.

Trish Costello is a Silicon Valley-based entrepreneur and investor. She is the Founder and CEO of Portfolia, a collaborative equity investing platform. She was named as one of the 100 Most Intriguing Entrepreneurs of 2014 by Goldman Sachs and Top Ten Women to Watch in Tech in 2015 by Inc magazine. She is recognized internationally for her pioneering work in educating and preparing venture capital investment partners, through the Kauffman Fellows Program. As the founding CEO and CEO Emeritus of the Center for Venture Education, she led the Kauffman Fellows Program for its first ten years. Costello was on the start-up team of the Kauffman Foundation's entrepreneurship center, where for eight years she directed its efforts in venture capital, angel investing, entrepreneur support programs, and programming to accelerate high potential women entrepreneurs. She played a leading role nationally in obtaining greater financial equity investments in women's businesses and in funding initiatives supporting high-growth women entrepreneurs.

The Thiel Fellowship is a fellowship created by billionaire Peter Thiel through the Thiel Foundation. The fellowship is intended for students aged 22 or younger and offers them a total of $100,000 over two years, as well as guidance and other resources, to drop out of school and pursue other work, which could involve scientific research, creating a startup, or working on a social movement. Selection for the fellowship is through a competitive annual process, with about 20–25 fellows selected annually.

<span class="mw-page-title-main">Bruce Kingma</span> American economist

Bruce Kingma is an American economist and academic entrepreneur, who since 1988 has taught and worked in the United States, Canada, and New Zealand. Kingma is a pioneer in experiential entrepreneurship education and community engagement and his work cover topics ranging from academic entrepreneurship, entrepreneurship and religion, information economics, online education, community engagement, library science, and nonprofit management.

Expeditionary economics is an emerging field of economic enquiry that focuses on the rebuilding and reconstructing of economies in post-conflict nations and providing support to disaster-struck nations.

Ted Gonder is an American entrepreneur and the co-founding CEO of Moneythink, a nonprofit organization dedicated to building the financial capability of young adults through technology-enhanced peer mentorship. Until July 2015, he was also a member of the U.S. President's Advisory Council on Financial Capability for Young Americans.

Kaufman or Kauffman may refer to:

Blooom, often stylized as "blooom", was an online Registered Investment Adviser that managed individual participant accounts in IRAs and in employer sponsored retirement plans such as 401(k), 403(b), or TSP. The company was founded in 2013 by Chris Costello, who now serves as chief executive officer. In January 2021, Blooom managed $5 billion in assets. In December 2022, it was bought out by Morgan Stanley.

<span class="mw-page-title-main">Ewing and Muriel Kauffman Memorial Garden</span>

The Ewing and Muriel Kauffman Memorial Garden is a 2-acre botanic garden and part of the Kauffman Legacy Park, located in Kansas City, Missouri. It is maintained in a collaborative effort by the Ewing Marion Kauffman Foundation and Powell Gardens. The gardens are located near Country Club Plaza and the main campus of University of Missouri–Kansas City. The Kauffman Memorial Garden is enclosed by limestone walls and has brick paths and seating areas. The garden showcases five designs.

<span class="mw-page-title-main">Expeditionary energy economics</span>

Expeditionary energy economics (e3) is an emerging field of energy economics that addresses energy management in the military expeditionary environment or as part of the disaster response stage of the emergency management cycle. The term was first introduced in 2018 in an article by U.S. Army Major Ion A. Iftimie, a research fellow within the Strategic Analysis Department of the NATO Energy Security Center of excellence in Vilnius, Lithuania. Major Iftimie proposed that the successful megacity counterinsurgency (COIN) campaigns of the twenty-first century will depend on fast solutions to critical energy infrastructure (CEI) vulnerabilities within individual communities. The practice of energy management in the military expeditionary environment (EMMEE) is not new. The US Marine Corps has an Expeditionary Energy Office, and NATO uses the new field to test the applicability and value of a draft military adaptation of ISO 50001:2011.

<span class="mw-page-title-main">Tony Luppino</span> American attorney, legal scholar, and author

Anthony J. “Tony” Luppino is an American attorney, legal scholar, and author. A law professor at the University of Missouri - Kansas City School of Law since 1991, he is the Rubey M. Hulen Professor of Law and Urban Affairs, Director of Entrepreneurship Programs, and Senior Fellow with the UMKC Regnier Institute for Entrepreneurship & Innovation. He is particularly active in the areas of entrepreneurship and business law, and cross-disciplinary studies and programs connecting them.

References

  1. "DeAngela Burns-Wallace: President and CEO". Ewing Marion Kauffman Foundation. Retrieved 17 January 2024.
  2. 1 2 "Ewing Marion Kauffman Foundation". ProPublica. Retrieved 17 January 2024.
  3. "Ewing Marion Kauffman Foundation Profile". LexisNexis Academic (database). 2014. Retrieved 2014-01-09.
  4. "Kauffman Foundation Grantmaker Record". Foundation Center Directory Online. 2013. Retrieved 2014-01-09.
  5. "As venture firms struggle with diversity, the Kauffman Fellows program is grooming candidates to help". TechCrunch. 16 June 2020. Retrieved 2022-03-24.
  6. "What We Do: Entrepreneurship Programs and Initiatives". Ewing Marion Kauffman Foundation. Retrieved 1 August 2017.
  7. "What We Do: Education Programs and Initiatives". Ewing Marion Kauffman Foundation. Retrieved 1 August 2017.
  8. "What We Do: Kansas City Programs and Initiatives". Ewing Marion Kauffman Foundation. Retrieved 1 August 2017.
  9. Anft, Michael (2 October 2003). "A Divided Vision: Critics dispute changes at the Kauffman Foundation" . Giving. Chronicle of Philanthropy. Vol. 15, no. 24. ISSN   1040-676X . Retrieved 18 January 2018.
  10. Preston, Caroline (3 January 2012). "Kauffman Foundation President Departs". Chronicle of Philanthropy. ISSN   1040-676X . Retrieved 18 January 2018.
  11. Strom, Stephanie (20 October 2003). "Uproar in Kansas City Over Foundation Chief". National Desk. The New York Times. p. A8. ISSN   0362-4331 . Retrieved 22 January 2018.
  12. Strom, Stephanie (5 March 2003). "Missouri Tells Charity To Change". National Desk. The New York Times. p. A17. ISSN   0362-4331. Archived from the original on 20 January 2018. Retrieved 19 January 2018.
  13. "EMKF invests $10 million in Living Cities fund to address wealth gap". Philanthropy News Digest. 4 May 2022. Retrieved 4 May 2022.