The Kresge Foundation builds infrastructure – and futures
The Kresge Foundation’s challenge grant helped complete Steven G. Mihaylo Hall, home to the Mihaylo College of Business and Economics.
The Kresge Foundation is a $3.1-billion private foundation that seeks to enhance the quality of life for future generations through its support of nonprofit organizations nationwide. In 1924, Kmart founder Sebastian Spering Kresge established the foundation that bears his name for the “promotion of human progress.” For more than 80 years, this mandate continues to be realized, primarily through the support of fundraising campaigns to build capital projects – libraries, hospitals, schools, museums, community centers and the like – that have contributed to the creation of our nation’s nonprofit infrastructure.
In 2007, the Mihaylo College of Business and Economics was awarded a Kresge Foundation challenge grant to help complete Steven G. Mihaylo Hall, which provides much-needed space for 8,500 students, 250 faculty and 50 staff. In August 2008, the college met Kresge’s challenge to raise the remainder of the $12 million private fundraising goal.
Caroline Altman Smith, program officer at Kresge, remarked: “We supported Cal State Fullerton because it educates thousands of Californians, including many low-income students and students of color. We also were impressed with the important role that the university plays in California’s postsecondary education pipeline as demonstrated
by the fact that approximately half of the student body transfer to the university from community colleges.”
The iconic building opened in August 2008, and “has enabled us to provide a world-class business education in an optimal learning environment for our students,” said Anil Puri, dean of the college.
For information about corporate and foundation giving, please contact Jerry Yu
at 657-278-7677.