From the Archives: 1994 – The Origins of Young Leaders Fund

National Philanthropy Day, observed around the world on November 15^th, celebrates the contributions of philanthropists of all backgrounds who dedicate their time, talents, and resources to positively impact their community. Definitions of charitable giving have evolved as Millennials and Gen Z philanthropists bring their unique skills and perspectives to supporting causes they care about. They are transforming philanthropy by blending traditional forms of giving to nonprofits with social media activism, online fundraising, and participation in giving circles. Over 30 years ago, the Trust created an affinity fund to help young professionals interested in philanthropy gain first-hand experience with charitable giving through grantmaking strategies that benefit their communities.

In 1994, Trust executive director Bruce Newman helped create the Young Leaders Group, the first organization of its kind in the country fostering learning and community among philanthropists aged 25 to 40. It was established with the support from matching grants provided by the Trust and the Elizabeth Morse Charitable Trust. Members had diverse occupations, civic interests, and experiences. The Young Leaders Group offered two opportunities for involvement: The Young Leaders Forum and The Young Leaders Fund (YLF). The Young Leaders Forum organized three annual dinner programs featuring panel discussions on important issues facing the city. The Young Leaders Fund (YLF), meanwhile, allowed members to direct grantmaking to organizations addressing critical needs.

Today, YLF continues its legacy as a charitable endowment fund where members research grassroots organizations, review grant proposals, visit potential grant recipients to assess their impact, direct annual grant recommendations, and network with other young philanthropists and professionals. Contributing to the YLF endowment allows them to have a greater impact on their communities than an individual donation would because it is combined with other gifts, and grants are made as a collective decision. It also allows them a space to learn from and grow alongside other young philanthropists stepping into the world of grantmaking.

To date, YLF has granted over $2 million to nearly 400 small, start-up nonprofits with operating budgets of less than $250,000. These grants have supported a variety of initiatives, such as promoting mental health awareness through dance and the arts, offering educational and recreational opportunities for youth in at-risk communities, and establishing networks for advocacy and workforce development. Through these efforts, YLF has supported hundreds of programs that enhance the lives of Chicago residents while cultivating the next generation of passionate philanthropists.