Twenty-three years ago, Katie Kramer received a full-ride scholarship from Colorado nonprofit the Boettcher Foundation. Now she’s in charge of handing them out.
On Sunday, Kramer was named the next executive director and president of the Denver-based Boettcher Foundation. As the fifth person to lead the nonprofit since its founding, Kramer, 40, will watch over assets valued at over $300 million, according to 2014 tax documents.
When the Boettcher Foundation started in 1937, it funded primarily major construction projects for nonprofits. Today it funds not just capital campaigns, but also biomedical research, undergraduate scholarships for in-state students and a five-year education program for aspiring teachers.
And since Boettcher disperses just a slice of its assets annually – about $15 million in 2014 – it tries to use the weight of its name to encourage other contributors.
“The best thing is saying yes and the hardest thing is saying no,” Kramer said. “Sometimes the value we can bring is that Boettcher support might attract other money.”
Or in the words of current Boettcher Foundation Executive Director Tim Schultz, 67, a grant from Boettcher is “a Good Housekeeping seal of approval” that can encourage more donors to pile on.
For example, Boettcher started its namesake teacher residence program with support from four other Denver-area nonprofits. The program is now housed at Adams State University and is further fueled by a $2.9 million federal grant and a $2.5 million state grant, among other funding sources.
Kramer has worked under Schultz’s tutelage for the past two decades, since starting at the foundation in 1997. Her first job was building the foundation’s website and setting up its first email address. She’s being promoted from her current job as vice president and assistant executive director.
Kramer will officially take over the executive director position on July 31, 2017.