The Chicago Community Trust (The Trust), headquartered in Chicago, Illinois, is a community foundation made to (according to their website) "give local residents an opportunity to support their community in perpetuity".
Video Chicago Community Trust
History
The Chicago Community Trust was founded in 1915 by bankers Norman Wait Harris and Albert Wadsworth Harris, and was initially presented to the board of Harris Trust & Savings Bank. The Trust's first donation was $200,000. Norman died the following year, with his son Albert taking over the Trust.
An early history of the Trust was written by Frank D. Loomis, an early leader of the Trust. It covers the Trust and its development during 1915-1962. However, this account does not criticize the Trust or the motives of any of its trustees.
Loomis later wrote a more detailed piece on the development of community foundations, after his retirement from the Trust. In this piece, Loomis mentioned how he thinks banks shouldn't be handling non-profit organizations as it points to their greedier motives, and raised the question: "A bank is a corporation organized for profit; should it also manage and control a charitable institution organized not-for-profit?"
The Chicago Community Trust is also the second oldest and one of the largest community foundations in the United States.
Maps Chicago Community Trust
Grants
Grant types
The Chicago Community Trust offers a variety of grants such as:
- GO Grants: Launched in 2015, these grants are awarded to local partnered nonprofit organizations that target that issues associated with the daily quality of life of all the residents.
- Inspiring Philanthropy Grants: Newly launched in 2016, this grant program awards grants ranging from $2,500 to $25,000 in order to inspire philanthropy among the community.
- Innovation Fund Grants: Another newly launched program in 2016, this grant program seeks to grants funds to foster innovation that can impact the entire community.
Partnerships and initiatives
The Trust offers grants through partnerships, such as:
- Arts Work Fund
- McHenry County Community Foundation
- Get IN Chicago
- Hive Chicago Fund for Connected Learning
- Springboard Foundation
- Community Foundation of Will County
- Lake County Community Foundation
The Trust also offers grants through its own initiatives such as:
- African American Legacy
- Youth Leaders Fund
- Latino Giving Circle
- LGBT Community Fund
- Nuestro Futuro
- Food:Land:Opportunity
- Pillars Fund
- Asian Giving Circle
Grant eligibility
The Trust awards grants to nonprofit organizations that can provide evidence of tax-exempt status under Section 501(c)(3) of the Internal Revenue Code that are not classified as private foundations. All grants also have individual criteria.
Grants are only awarded to organizations that benefit those livings in the Chicago region, and only awards grants in the following counties:
- Cook County, Illinois
- DuPage County, Illinois
- Kane County, Illinois
- Lake County, Illinois
- McHenry County, Illinois
- Will County, Illinois
Sponsors
Community
Some of the Community Sponsors of the Trust include:
- Bluhm Family Charitable Foundation
- BMO Harris Bank
- Northern Trust
- U.S. Bancorp (USBank)
Supporting
Some of the Supporting Sponsors of the Trust include:
- Bandon Dunes Golf Resort
- Blue Cross Blue Shield of Illinois (Blue Cross Blue Shield Association)
- Commonwealth Edison (ComEd)
- William Blair & Company
- PNC Financial Services
- Sun-Times Media Group
See also
- Silicon Valley Community Foundation, another community foundation in the United States
References
Source of article : Wikipedia
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