Finding the Right Fit for Your Philanthropy

Every day, people from all walks of life participate in philanthropy, giving money or time to effect change in their own community or far beyond. However, for many, the idea of being a philanthropist may seem vague or inaccessible—a term that’s reserved for only an elite few. It can also be a challenge to figure out exactly how to achieve the impact you’re seeking to make.

Everyone has the ability to be a philanthropist. And by working with the Trust, there are a broad range of ways that people can achieve their philanthropic goals – depending on the approach, we can serve as the solution, an expert advisor, or a thought partner.

The Trust also provides a variety of options for families and individuals to think differently about philanthropy and how they can make a meaningful impact for specific communities and causes, now and into the future.

Contributing to a Pooled Fund

By leveraging the generosity of multiple donors, pooled funds allow the Trust to make multiple philanthropic investments towards pressing issues impacting the region – from addressing disinvestment in Black and Latinx communities to responding to critical needs. Donors play a pivotal role in transformative change and know that their gifts are being strategically directed towards collective impact. Two examples of pooled funds offered by the Trust:

• We Rise Together: For A Just & Equitable Recovery – a funder collaborative working in partnership with community members to address the urgent economic needs of Black and Latinx communities.
• Unity Fund – pools contributions from many donors to support nonprofit organizations throughout the region that are meeting the most critical needs.

For many grant recipient organizations who have received support from pooled funds, these dollars are crucial to helping projects get to the finish line, building organizational capacity, or bolstering their ability to serve those most in need.

“Behind every youth who will reach graduation this year, every child in a safe home thanks to child [care services], and every adult starting a new career, is a Unity Fund donor,” said Juan Carlos Linares, President and CEO of Association House, a Unity Fund grant recipient.

Legacy Giving

Legacy giving allows donors to create philanthropic impact long after they are gone. By giving an unrestricted gift to the Trust’s endowment through wills, trusts, retirement accounts and other vehicles, the Trust has the flexibility to respond to the ongoing and future needs of the region.

Through a Field of Interest Fund, donors also have the option to continue support for specific issue areas – e.g., health care, workforce development, or education – after they have passed away. Or they can provide ongoing support to charities of their choice in perpetuity or for a certain period of time through a Designated Fund.

In the most recent episode of the Trust Talks podcast, donor and Executive Committee member Anne Ladky recommends starting conversations about legacy giving as soon as you can. While planning beyond life may initially feel uncomfortable, Ladky noted: “It’s really thinking about your philanthropic impact in a way that’s very generative and very optimistic.”

Impact Investing

The Trust’s Impact Investing Program enables donors to invest the assets of their donor advised funds (DAFs) for positive social impact. Donors are able to invest in social change before making grants from their DAFs, thus amplifying the impact of their charitable dollars. The program offers 10 investment opportunities that range from providing real estate loans and financing to development projects and organizations serving low-income Chicago communities, supporting socially conscious companies, and addressing global climate change. Collectively, our locally focused investments helped create more than 1,400 jobs and build over 1,100 affordable housing units in the region.

According to DAF Advisor Brian Barnes: “One of the opportunities I invest in provides subsidized small business loans to people who wouldn’t qualify for a bank loan. These are individuals who are trying to better their lives but are excluded from the system. The Impact Investing Program is a way to help them out—to help them get access to credit and capital that they might not otherwise have.”

If you are interested in participating in the Impact Investing Program, the next deadline to recommend an investment is June 15. Reach out directly to your Philanthropic Advisor or to Interim Vice President of Philanthropic Services Kristin Carlson Vogen to learn more and get started.

Affinity Funds

Affinity funds bring groups of donors together over a shared heritage, identity, or common interest. They leverage collective giving in support of specific communities and the organizations that serve them. Members, who are often emerging leaders with diverse backgrounds, work in a collaborative decision-making process to distribute grants.

Currently, there are six affinity funds housed at the Trust:

• African American Legacy
• Asian Giving Circle
• Disabilities Fund
• LGBTQ Community Fund
• Nuestro Futuro
• Young Leaders Fund

According to Affinity Funds Manager Christine Munteanu, affinity funds are an efficient way for donors to maximize giving. They also serve as a meaningful introduction to philanthropy and the organizations and communities the funds serve.

“Instead of having to choose among many worthy organizations serving a specific cause or community, by donating to an affinity fund, your gift adds to the collective pot of money for each fund to distribute,” she said. “Their grant making decisions are informed by the needs of the community, as well as the expertise and lived experiences of members, ensuring funds are directed to the organizations making the most impact.”

Getting Started

The most important place to start is with a conversation. Please reach out directly to your Philanthropic Advisor or to Interim Vice President of Philanthropic Services Kristin Carlson Vogen to discuss options for expanding your philanthropy.