Building Wealth and Well-Being

At the Trust, we believe people are our region’s greatest asset. When everyone is contributing to and benefiting from our economy, our region will thrive.

Increasing Wealth in the Chicago Region’s Underinvested Communities

We are working toward a day when everyone in the Chicago region* has enough wealth to care for their family and invest in the future. Today, far too many do not, contributing to issues such as housing insecurity, unacceptable health disparities, gun violence, and uneven economic growth. As a charitable organization, we are committed to reducing this gap so that our region and its residents can meet their potential.

Policies and practices — fueled by the misconception that poverty is due solely to individual choices — have prevented too many Chicagoans from building wealth. Increasing wealth and well-being in underinvested communities, which will improve the region for all Chicagoans, requires long-term commitment and partnerships with donors, nonprofits, community members, business leaders, and local government.

Join us!

Taking on Our Region’s Greatest Challenge

The Trust was created over a century ago to bring our community together to face our most pressing challenges and seize our greatest opportunities. It is because of our role as a community foundation that today we are focused on addressing the region’s wealth gap, which stands in the way of a thriving Chicago. Also aligned with our role as a community foundation, the Trust supports meeting people’s critical needs such as secure housing and healthy food, public safety, and regional response to unanticipated crises such as COVID-19.

At the Trust, we believe people are our region’s greatest asset. When everyone is contributing to and benefiting from our economy, our region will thrive.

Did You Know?

Even within college-educated populations, the wealth gap is significant: Among those with a bachelor’s degree, white respondents reported $294,000 in net wealth compared with $34,000 for Black respondents, $83,500 for Puerto Rican respondents, and $112,000 for U.S.-born Mexican respondents. (The Color of Wealth in Chicago report, 2024)
In Cook County, only about 4 in 10 Black households and 5 in 10 Latine households reported owning their home vs. 7 in 10 white households. (U.S. Census Bureau, “Demographic Characteristics for Occupied Housing Units,” American Community Survey, 5-Year Estimates Subject Tables, Table S2502, 2022)
Even though home equity values are roughly equivalent among Black, U.S.-born Mexican, and Puerto Rican Chicago-area residents, white homeowners report the most equity at $200,000 and foreign-born Mexican residents report the least at $46,000. (The Color of Wealth in Chicago report, 2024)
Even among Chicago and Cook County households earning $100,000 or more, only 40 percent of Black and 44 percent of Latine residents are financially healthy versus 69 percent of whites. (Financial Health Pulse Chicago, 2022)

Building wealth is building well-being.

While income is important because it helps people meet their daily needs, wealth allows them to invest and plan for their future. It’s about options and opportunities — or lack thereof — that can make a huge impact on the trajectory of a person’s life, future generations, and the larger community.

For example, a person with a savings cushion can weather a job loss without going into debt. They can afford a down payment on a median-priced home and hopefully build equity for themselves and future generations. They can afford to dream, for instance pursuing higher education or opening their own business.

It’s not just about money in the bank. It’s about improving peace of mind and banking on a better future.

Our response to wealth inequities is vital to our region’s future.

Since 2019, the Trust has been focused on narrowing the Chicago region’s wealth gap. At this point, we and our community partners have gained knowledge and collected data pointing ever more clearly toward both the ramifications of and reasons for the gap. We are prioritizing three focus areas where we have expertise and can move the needle. For households and communities that have faced systemic barriers to building wealth, our goals are to: (1) increase income and financial assets, (2) increase residents’ homeownership and home equity, and (3) increase neighborhood investments while minimizing displacement.

Through partnerships, we can go even further. Whether you are a donor, a community leader, work for a nonprofit, lead a company, or serve as a local government representative, we invite you to join us in increasing opportunities for Chicagoans to build assets.

Increase Residents’ Homeownership & Home Equity

For those that have faced systemic barriers to owning a home and building equity in that home, our goals are to:

Increase rates of new homebuyers by: Testing 3 new mortgage products for moderate income households to buy homes, and expanding the number of affordable homes under construction and being rehabbed
Support existing homeowners to stay in place: Testing 2-3 home repair models designed to keep families in homes and build equity, conducting research on estate planning supports and potential policy solutions, and exploring and implementing reforms to reduce property tax burdens

Increase Residents’ Income & Financial Assets

For those that have faced systemic barriers to attaining quality employment and growing their income:

Increase the number of individuals entering quality, living wage jobs by: Investing in wraparound services and workforce entry/retention programs, and supporting completion of workforce programs to facilitate entry and retention in the workforce
Increase employment of under-represented workers in jobs that build wealth by: Supporting employers in updating hiring, retention and educational attainment programs

Increase Neighborhood Investments While Minimizing Displacement

For underinvested communities that have faced systemic barriers to development, our goals are to:

Advance pre-conditions for development by: Supporting public sector reforms to improve permitting and approval processes, and innovating on shared ownership model
Advance specific projects by: Investing in predevelopment infrastructure, and making large capital investment
Invest in community-led approaches by: Supporting community-based anchor organizations’ planning and development, and exploring new approaches to community engagement/visioning for development