Ten Years of the Kravis Prize
By Xiangyu Ma ‘17
The Henry R. Kravis Prize in Nonprofit Leadership, appearing more frequently under the moniker of the Kravis Prize, is an annual award that recognizes extraordinary accomplishment and bold, visionary leadership in the nonprofit sector. A formal award ceremony celebrates the recipient’s accomplishments and $250,000 is directed to a nonprofit organization designated by the recipient.
Established in 2006, the Kravis Prize is a KLI-affiliated award administered by Claremont McKenna College (CMC) and Marie-Josée and Henry R. Kravis. Mrs. Kravis, an economist, is a Senior Fellow of the Hudson Institute; Mr. Kravis, founding partner of Kohlberg Kravis Roberts & Co., is an alumnus and trustee of CMC.
The Kravis Prize conducts a rigorous due diligence and selection process to choose the annual recipient. The Prize’s selection committee receives formal nominations from a select group of individuals who are invited to serve as nominators based on their knowledge and experience in the nonprofit sector; it also accepts suggestions of candidates through the Kravis Prize website. Nominations and suggestions typically span a broad range of sectors in the nonprofit field, including economic development, public health, law/ justice/human rights, education, and capacity building in the nonprofit sector as a whole.
The selection committee chooses the deserving candidate on the basis of carefully crafted quantitative and qualitative measures. The assessment framework focuses primarily on direct impact and achievement but also provides for a qualitative analysis of bold, visionary leadership. Financial stability and integrity, governance, and management stability are also valued. A single Prize is awarded each year, although in 2012 two were given out (to mothers2mothers and INJAZ Al-Arab respectively.) The Prize typically recognizes an outstanding nonprofit organization.
The selection committee consists of eight distinguished individuals who boast a wealth of experience across difference expertise. Along Mr. and Mrs. Kravis sits Surin Pitsuwan ’72, former Secretary General of ASEAN; Ratan Tata, chairman of Tata Group; Harry T. McMahon ’75 P’08 P’09, Executive Vice Chairman at Bank of America Merrill Lynch; Josette Sheeran, President and CEO of The Asia Society; and James D. Wolfensohn, former president of the World Bank.