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African American civic and business leaders in collaboration with the Trust created The African American Legacy Initiative in 2003 with two goals in mind:
- To involve more African Americans, individually and collectively, in philanthropy
- To support the not-for-profit organizations that improve the quality of life of the residents of our African American communities.
To address situations that challenge our communities - reducing violence, providing mentors for youth and out-of-school activities, and job training - The African American Legacy Initiative offers three ways for donors to maximize the impact of their gifts:
- The Legacy Fund – Donors pool their resources – making one larger endowment from many smaller contributions – to grow a fund that will respond to the changing needs of the African-American community in perpetuity.
- Individual Funds – Families, individuals and groups create philanthropic legacies through individual named funds.
- Corporate Gifts – Corporations and businesses have joined in a campaign to match individual gifts to the Legacy Fund and gifts that establish individual named funds.
In 2005, The African American Legacy Initiative of The Chicago Community Trust awarded its first grants to 13 agencies.
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