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Expanding Equity andOpportunity in America’s Cities. 3215 W. Big Beaver Road Troy, MI 48084 +1 248-643-9630. Contact Us. Founded by retailer Sebastian S. Kresge in 1924, The Kresge Foundation continues to fulfill his mandate: To promote human progress.
Two were five-and-ten-cent stores, and McCrory brought on Kresge to help manage them. In 1897, Kresge traveled to Memphis and opened a store there as an equal partner to McCrory. Later that year, the duo also opened a Detroit store on Woodward Avenue. By 1899, Kresge was the full owner and manager of that store, and the S.S. Kresge Co. was born.
January 5, 1984. Appeal from Superior Court of Los Angeles County, No. EAC24638, Roy L. Norman, Judge. Laurence E. Clark and Wanda Grasse for Plaintiff and Appellant. Chase, Rotchford, Drukker Bogust, Howard A. Slavin and David Gorney for Defendants and Respondents.
The S.S. Kresge Company was 25 years old in 1924. Sebastian S. Kresge himself was 57. To commemorate the anniversary of his growing company, on June 11 he established The Kresge Foundation in booming Detroit, where the auto industry, also 25-years old that year, had spawned rampant growth and widespread prosperity.
In June 1924, at the age of 57 and on the occasion of his company’s 25th anniversary, he established The Kresge Foundation “for the benefit of mankind” with an initial $1.3 million gift. Although located in the same building until 1965, The Kresge Foundation was and remains a separate entity from S.S. Kresge Co. and its successor, Kmart Corp.
Kresge incorporated the company in 1912 under his own name as the S.S. Kresge Company. By this time there were 85 stores valued at over $10 million. The era of “five and dimes” ended in 1917 when Kresge’s was forced to raise prices to fifteen cents, due to World War I inflation. In 1921, the company opened “green front” stores that ...
Under date of July 25, 1956, the S.S. Kresge Company, appellant herein, a foreign corporation doing business in Ohio, was assessed an Ohio sales tax deficiency, with respect to sales over 40 cents, in the amount of $396,579.41, for the years 1952, 1953, 1954 and 1955. The Tax Commissioner, in making his audit of appellant's sales tax returns ...
