Successful companies are only as strong as the communities in which they operate. Our citizenship platform aims to empower our employees, our portfolio companies, and our Firm to help create healthier, more resilient communities.
18,000 hours
contributed to nonprofits around the world since the launch of KKR 40 for 40 in 2016
placed on nonprofit boards across the United States and Europe since 2018
committed to communities impacted by COVID-19 from the KKR Relief Fund
Since launching our citizenship platform in 2016, we have defined our focus and strengthened our commitment to the communities we share. However, the COVID-19 crisis is new in both the scale and depth of its impact across the global economy, local communities, and our personal lives. As such, we recognize that our efforts must be more strategic and impactful than ever before.
In April 2020, through commitments from our firm, leadership and employees, we launched the $50 million KKR Relief Fund to support those most impacted by the crisis and the resulting economic dislocation. We aim to be part of the solution to the challenges facing our shared communities through four key pillars.
Supporting Portfolio Company Employees
Engaging our Employees as Leaders and Change-Makers
Assisting Small Businesses
Providing Strategic Grants and Partnerships
To enable this important initiative, KKR co-founders Henry Kravis and George Roberts and co-presidents Joseph Bae and Scott Nuttall will be forgoing any end-of-year bonuses and their remaining salaries for 2020. Additionally, many other senior leaders and employees are contributing to the Fund.
The KKR Relief Fund will be make strategic community grants across three areas: Communities, Opportunities, and Heroes.
Communities work best when they work for everyone. We are committed to offering support and care for the most vulnerable among us. As the coronavirus outbreak and the resultant economic dislocation continue to take a devastating toll on lives and communities, we aim to invest in critical services that help people survive and thrive. From food security and safe housing to public health and humanitarian relief, we are supporting and coordinating efforts to address challenges and ensure help is at hand.
The companies in our portfolio employ hundreds of thousands of people around the world, giving us a deep understanding of the importance of a strong, capable workforce. Because of our global nature and operating model, we have an interest in promoting healthy economies, supporting small businesses, and ensuring stable communities.
In 2019, we continued to improve our understanding of the challenges and opportunities surrounding workforce development. We also deepened our support of partners such as Code First: Girls, Echoing Green, Impetus, Sponsors for Educational Opportunity (SEO), and the Asian Venture Philanthropy Network, which help to create opportunities, build pipelines of diverse talent, and train the next generation of the workforce.
Our business is dependent on the well-being and livelihood of public and civil servants such as teachers, first responders, and city workers. These individuals not only are our clients, but also are the cornerstones of our communities, keeping us all safe and well. Their commitment to the greater good and our business inspires us to support them in return. We work alongside organizations that provide training and continuing education to teachers, financial coaching and literacy to city workers, and support for the families of fallen first responders. Some of these organizations include Teach For America, Operation HOPE, and Answer the Call.
Our people are our biggest asset, which is why we support not only their career development but also their desire to create positive social impact. Through the following four components of The KKR Cares Platform, we offer programs and opportunities that encourage and inspire employees as they engage with nonprofits and their communities.
KKR Employee Matching Gift Program
KKR 40 for 40
Nonprofit Board Service
Pro Bono Consulting Services and Technical Assistance
Last year, we expanded our technical assistance efforts with the creation of a bespoke program with Echoing Green, a leading accelerator of social entrepreneurs around the globe. Together, we created a 14-week program engaging three leading social entrepreneurs with 18 employees from across our U.S. offices.
Teams of KKR employees from diverse backgrounds, levels, roles, and disciplines competed for placement with their choice of social entrepreneur. After working to help solve the entrepreneurs’ biggest challenges and grow their impact, the teams came back together in a finale event to report on their work and compete for more than $50,000 in grants from KKR. The winning team worked with healthcare start-up CareMessage, helping the enterprise represent more than 500,000 new low income and underserved patients over the duration of the accelerator program.
Across the globe, our employees are directly involved in their communities, volunteering their time and talent to a variety of nonprofit organizations. Individually or with their colleagues, our employees have participated in events such as week-long service trips, monthly gardening days, and weekly mentoring sessions. We are proud that more than 700 employees have volunteered more than 18,000 hours since 2016 through KKR 40 for 40.
The New York office hosted a month-long collection effort culminating in the donation of more than 23,000 coats to the New York Cares annual coat drive, which gives coats to New Yorkers in need. A team of volunteers also sorted donated coats at the New York Cares distribution center.
At Second Harvest Food Bank, employees of the Menlo Park office sorted nearly 15,000 pounds of food for distribution to low-income individuals in the San Francisco Bay Area.
An employee from the New York office traveled to Zambia with the 14 Plus Foundation. She helped facilitate courses and supported administrative needs in its network of schools.
Members of the New York office conducted mock interviews for the HOPE Program, whose mission is to empower underserved New Yorkers through training, job placement, and career coaching.
A team from the San Francisco office constructed and decorated playhouses for the Habitat for Humanity Playhouse Program, which donates play spaces to families in need.
Members of the Seoul office prepared and distributed baked goods for disadvantaged members of their community with the Korean Red Cross.
In the London office, employees organized and taught a coding course for local girls in partnership with Code First: Girls, a strategic nonprofit partner of KKR, which aims to increase the number of women in technology.
An employee from the London office used KKR 40 for 40 time to volunteer for more than a year and a half with Guide Dogs for the Blind, an organization that trains guide dogs for those who are visually impaired.
For six weeks, Beijing office employees volunteered with the Baimiao Experimental School, helping to support its curriculum by teaching English and computer courses to migrant students.
Employees from the Tokyo office participated in the 14th annual Tokyo for Charity Run, completing 10K and 5K races. They and the other runners helped to raise more than $500,000 for local causes.