The goal of Benefit Chicago is to provide capital to nonprofit organizations and social endeavors in order to make an impact in Chicago and thus better the quality of life of those who need it most.

1. HOW BENEFIT CHICAGO WILL
HELP THE CITY’S MOST NEEDY
By Yosef Meystel
Image courtesy of Cliff at
Flickr.com

2. Philanthropy has been a staple of Chicago life ever since the city
was founded. Solidarity is not a word Chicagoans throw around
lightly. No, my good man and woman. Helping others is a way of
life for those who are native to the Windy City and it is a lifestyle
that those who migrate to it will eventually adapt. There are a
number of recognized philanthropic organizations that have
helped Chicagoans and its surround area for many years and
through different ways. And now, three experienced
organizations have joined forces to create something grand.The
Chicago Community Trust, the John D. and Catherine T.
MacArthur Foundation, and the Calvert Foundation have
established Benefit Chicago. The goal of Benefit Chicago is
to provide capital to nonprofit organizations and social
endeavors in order to make an impact in Chicago and thus
better the quality of life of those who need it most. By
gathering and sharing all their expertise in social investment,
these three companies are looking to allocate $100 million
dollars initially towards social impact campaigns and enterprises.

3. The 411 on Benefit Chicago
The MacArthur Foundation and the Chicago Community Trust
commissioned a report to identify the current financial state of the city’s
social sector. The results of the report showed that at the moment,
Chicago is in need of at least $100 million dollars. It also showed that
this figure could quadruple within five years’ time. Something
interesting also resulted from the report. Just as there were
organizations and projects looking for investments, there were also
organizations and people who wanted to make a social impact by
investing on social projects. And that’s how Benefit Chicago came to
be. It wants to bring investors and those looking for investment on
projects with a social impact in mind closer.
The funds gathered by Benefit Chicago will go towards capitalizing all
social nonprofits and companies that want to invest in education,
nutrition, housing, energy conservation, employment, and other sectors
where Chicago greatly needs investment. Those who are loaned the
capital need must invest it on construction or renovation of facilities,
expansion, program launching, buying equipment, or handling cash
flow. The Chicago Community Trust is in charge of the Community
Advisory Committee that will establish where the resources of Benefit
Chicago will go towards in order of priority.

4. The Big Three are not the sole investors in this amazing
philanthropic project. Anyone can invest in Benefit
Chicago. Big companies. Mom and Dad shops.
Individuals. Anyone! Investments in the collaboration go
from as little as $20 dollars online or buy acquiring a
Chicago—targeted Community Investment Note through a
brokerage account. The minimum investment for the Note
is $1000 dollars and it is issued by the Calvert Foundation.

5. The Chicago Community Trust: For 100 years, the Trust
has been an example of philanthropy. They’ve been able
to establish this reputation through grants, civic activities,
and other philanthropic activities. The Trust promotes
teamwork and collaboration. For them, the more
knowledge we share the bigger the impact that we can
make.
They are committed to a 15 million-dollar, 15-year
investment in Benefit Chicago. These funds will go directly
to the Chicago-targeted Notes issued by the Calvert
Foundation. As we said before, the funds gathered by the
Chicago-targeted Notes will be destined by Community
Advisory Committee, which is chaired by the Chicago
Community Trust.

6. The Calvert Foundation: With a little over twenty years’
experience in lending to social causes, the Calvert
Foundation have made the world a better place through
their Community Investment Notes. They have helped
investors contribute to social impact throughout the globe.
The investments made through the foundation have gone
towards empowering women, developing affordable
housing, microfinancing, fair and sustained agriculture, and
financial services. Anyone interesting in investing to make
a social impact can do online for as little as twenty dollars
or through a brokerage account or directly through a
minimum investment of $1,000. Their contribution to
Benefit Chicago is the issuance of anywhere to $50 million
dollars of their designated for Chicago Community
Investment Notes. They will also be in charge of lending
the funds that approved social businesses or nonprofits
seek in order to benefit Chicago’s most underserved
communities.

7. The John D. and Catherine T. MacArthur Foundation:
Since 1978, the MacArthur Foundation has helped promote
creativity, institutional efficiencies, network building all over
the world. They have made grants in over 50 countries and
have played an important role in also promoting journalism.
The Foundation has given over $1.1 billion dollars to the
Chicago communities making it perhaps one of the most
important, if not the most, foundation for Chicagoans. The
MacArthur Foundation has set up a fund solely dedicated
to the efforts of Benefit Chicago as well as a 50-million-
dollar investment from the foundation's own capital.
Benefit Chicago will start operations in July 2016. This
date will surely mark a before and after in how private
social businesses and nonprofits work together to make the
world a better place.