The Ewing Marion Kauffman Foundation (Kauffman Foundation) is a registered

501(c)(3) A 501(c)(3) organization is a United States corporation, Trust (business), trust, unincorporated association or other type of organization exempt from federal income tax under section 501(c)(3) of Title 26 of the United States Code. It is one of ...

nonprofit,

private foundation A private foundation is a Tax exemption, tax-exempt organization that does not rely on broad public support and generally claims to serve humanitarian purposes. Unlike a Foundation (nonprofit), charitable foundation, a private foundation does no ...

based in

Kansas City, Missouri Kansas City, Missouri, abbreviated KC or KCMO, is the largest city in the U.S. state of Missouri by List of cities in Missouri, population and area. The city lies within Jackson County, Missouri, Jackson, Clay County, Missouri, Clay, and Pl ...

. It was founded in 1966 by Ewing Marion Kauffman, who had previously founded the drug company

Marion Laboratories Marion Merrell Dow and its predecessor Marion Laboratories was a United States, U.S. pharmaceutical company based in Kansas City, Missouri, from 1950 until 1996. The company specialized in bringing to market drugs that had been discovered but unm ...

. The Kauffman Foundation works with communities to build and support programs that boost entrepreneurship, improve education, and contribute to the vibrancy of Kansas City. The Kauffman Fellows Program, known for supporting diversity in the field of

venture capital Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...

, originated from the Kauffman Foundation. In a statement quoted by

TechCrunch TechCrunch is an American global online newspaper focusing on topics regarding high tech, high-tech and Startup company, startup companies. It was founded in June 2005 by Archimedes Ventures, led by partners Michael Arrington and Keith Teare. I ...

, 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.”

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 Entrepreneurship is the creation or extraction of economic value in ways that generally entail beyond the minimal amount of risk (assumed by a traditional business), and potentially involving values besides simply economic ones. An entrepreneu ...

, improving education, and supporting civic development in Kansas City.

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. 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. Conflict also arose over the extent of his executive authority, which prompted the

Missouri Attorney General The Office of the Missouri Attorney General was created in 1806 when Missouri was part of the Louisiana Territory. Missouri's first Constitution in 1820 provided for an appointed attorney general, but since the 1865 Constitution, the Attorney Ge ...

to recommend that the foundation strengthen its conflict of interest provisions and give the board of directors more decision-making authority. 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.

References

{{Authority control Companies based in Kansas City, Missouri Foundations based in the United States Organizations established in 1966