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

501(c)(3) A 501(c)(3) organization is a United States corporation, 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 the 29 types of 50 ...

nonprofit,

private foundation A private foundation is a tax-exempt organization not relying on broad public support and generally claiming to serve humanitarian purposes. The Bill & Melinda Gates Foundation is the largest private foundation in the U.S. with over $38 billion ...

based in

Kansas City, Missouri Kansas City (abbreviated KC or KCMO) is the largest city in Missouri by population and area. As of the 2020 census, the city had a population of 508,090 in 2020, making it the 36th most-populous city in the United States. It is the central ...

. It was founded in 1966 by

Ewing Marion Kauffman Ewing Marion Kauffman (September 21, 1916 August 1, 1993) was an American pharmaceutical entrepreneur, philanthropist, and Major League Baseball owner. Early life and education Ewing Kauffman was born on September 21, 1916, on a farm near Gard ...

, who had previously founded the drug company

Marion Laboratories Marion Merrell Dow and its predecessor Marion Laboratories was a 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 unmarketed by other ...

. 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 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, ...

, known for supporting diversity in the field of

venture capital Venture capital (often abbreviated as VC) is a form of private equity financing that is provided by venture capital firms or funds to startups, early-stage, and emerging companies that have been deemed to have high growth potential or which ha ...

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

TechCrunch TechCrunch is an American online newspaper focusing on high tech and startup companies. It was founded in June 2005 by Archimedes Ventures, led by partners Michael Arrington and Keith Teare. In 2010, AOL acquired the company for approximately ...

, 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. With this definition, entrepreneurship is viewed as change, generally entailing risk beyond what is normally encountered in starting a business, which may include other values th ...

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

History

In 2002, academic and entrepreneur

Carl Schramm 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 Entrepreneu ...

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 Gene ...

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