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BUSINESS 04/25/2016, 11:00am
$100 million initiative launched to fund Chicago social services
(From left) Julia Stasch, president, MacArthur Foundation Terry Mazany, president and CEO, The Chicago Community Trust and Jennifer Pryce, president and CEO of Calvert Foundation announce the creation of Benefit Chicago Ñ$100 million in investments to provide low-interest loans and other help to boost efforts of local organizations working to improve educational opportunities, childcare, affordable housing options and other things. | Rich Hein/Sun-Times
(From left) Julia Stasch, president, MacArthur Foundation Terry Mazany, president and CEO, The Chicago Community Trust and Jennifer Pryce, president and CEO of Calvert Foundation announce the creation of Benefit Chicago Ñ$100 million in investments to provide low-interest loans and other help to boost efforts of local organizations working to improve educational opportunities, childcare, affordable housing options and other things. | Rich Hein/Sun-Times
Maudlyne Ihejirika
@maudlynei | email
Chicago's social services providers will soon have access to a $100 million stream of funding for community help projects, under an initiative launched Monday by three powerhouse charities.
An impact investment fund created by the Chicago Community Trust, John D. and Catherine T. MacArthur Foundation, and Calvert Foundation, will begin accepting applications this summer for low-interest loans for groups engaged in social good.
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"MacArthur Foundation is really excited about this collaboration of organizations coming together to tap into the rising interest in impact investing — a national and global phenomenon. Our goal is to connect that rising interest to the needs of Chicago's social sector infrastructure," said MacArthur President Julia Stasch.
Impact investment funds have grown in the past decade as more investors seek opportunities to merge a desire to help meet social needs with a profitable return on their investments.
Impact investment funds allow individuals or institutions to invest those dollars in entities focused on helping society. The new so-called "Benefit Chicago" fund, a brainchild of the MacArthur Foundation, would be the nation's largest such fund.
The fund is expected to launch in mid-July. Anyone interested in investing in efforts to address such priorities as education and child care, job creation and training, access to healthy food, quality affordable housing, energy conservation, can buy into the fund.
"This goes beyond traditional grant-making, to enable individual donors to participate in community investment finance. There's no other community or city that has put together this type of collaboration to bring the expertise of loan-making in the community that MacArthur has, the financial platform of Calvert, and the deep knowledge of the community that the Trust brings," said Terry Mazany, President/CEO of the Trust.
Investors will be able to purchase Chicago-targeted Community Investment Notes issued by Calvert — fixed-income securities, with principal maturities ranging from 1 to 15 years, and interest payable annually.
It can be as small as $20 online, or through a brokerage account, $1,000. Or investors could start a donor-advised fund at the Trust, designating it for investment in a Chicago-targeted Note.
" 'Benefit Chicago' is about demystifying impact investing. Here's an opportunity for everyone to think about how they can put their investments to work in a good, social and financial way," said Jennifer Pryce, President/CEO of Calvert.
"This has never been available before. Impact investing has been complicated, or just for ultra high-end clients who have money for an advisor to help them structure these deals," she said. "So this is really democratizing and making it available for all of Chicago to get behind. The benefit is the amount of assets that we put to work for the community."
In recent years, MacArthur, with a 30-year track record in impact investing, saw increased inquiries for its expertise in the field; the rising interest in part driven by Millennials who are receiving large transfers of wealth from baby boomers; and women living longer, inheriting large sums, and building businesses.
So MacArthur reached out to the 100-year-old Community Trust, with its expertise in funding Chicago needs; and then to Calvert, with its expertise in connecting investors to causes since 1995.
More information can be obtained at benefitCHI.org
# CALVERT FOUNDATION JENNIFER PRYCE CHICAGO
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TRENDING PRINCE CHA BLACKHAWKS BERNIE SANDERS SHERYL SWOOPES CRIME
search...
News Home
Sports Home
Politics Home
Entertainment Home
Columnists Home
Opinion Home
Lifestyles Home
Education
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Business
Chicago
Transportation
FOLLOW US
ADVERTISE | PRIVACY POLICY | TERMS | ABOUT US | ABOUT OUR ADS | ABOUT SPONSORED CONTENT
Copyright © 2016. Sun-Times Media, LLC All Rights Reserved.
POWERED BY WORDPRESS.COM VIP
News
BUSINESS 04/25/2016, 11:00am
$100 million initiative launched to fund Chicago social services
(From left) Julia Stasch, president, MacArthur Foundation Terry Mazany, president and CEO, The Chicago Community Trust and Jennifer Pryce, president and CEO of Calvert Foundation announce the creation of Benefit Chicago Ñ$100 million in investments to provide low-interest loans and other help to boost efforts of local organizations working to improve educational opportunities, childcare, affordable housing options and other things. | Rich Hein/Sun-Times
(From left) Julia Stasch, president, MacArthur Foundation Terry Mazany, president and CEO, The Chicago Community Trust and Jennifer Pryce, president and CEO of Calvert Foundation announce the creation of Benefit Chicago Ñ$100 million in investments to provide low-interest loans and other help to boost efforts of local organizations working to improve educational opportunities, childcare, affordable housing options and other things. | Rich Hein/Sun-Times
Maudlyne Ihejirika
@maudlynei | email
Chicago's social services providers will soon have access to a $100 million stream of funding for community help projects, under an initiative launched Monday by three powerhouse charities.
An impact investment fund created by the Chicago Community Trust, John D. and Catherine T. MacArthur Foundation, and Calvert Foundation, will begin accepting applications this summer for low-interest loans for groups engaged in social good.
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"MacArthur Foundation is really excited about this collaboration of organizations coming together to tap into the rising interest in impact investing — a national and global phenomenon. Our goal is to connect that rising interest to the needs of Chicago's social sector infrastructure," said MacArthur President Julia Stasch.
Impact investment funds have grown in the past decade as more investors seek opportunities to merge a desire to help meet social needs with a profitable return on their investments.
Impact investment funds allow individuals or institutions to invest those dollars in entities focused on helping society. The new so-called "Benefit Chicago" fund, a brainchild of the MacArthur Foundation, would be the nation's largest such fund.
The fund is expected to launch in mid-July. Anyone interested in investing in efforts to address such priorities as education and child care, job creation and training, access to healthy food, quality affordable housing, energy conservation, can buy into the fund.
"This goes beyond traditional grant-making, to enable individual donors to participate in community investment finance. There's no other community or city that has put together this type of collaboration to bring the expertise of loan-making in the community that MacArthur has, the financial platform of Calvert, and the deep knowledge of the community that the Trust brings," said Terry Mazany, President/CEO of the Trust.
Investors will be able to purchase Chicago-targeted Community Investment Notes issued by Calvert — fixed-income securities, with principal maturities ranging from 1 to 15 years, and interest payable annually.
It can be as small as $20 online, or through a brokerage account, $1,000. Or investors could start a donor-advised fund at the Trust, designating it for investment in a Chicago-targeted Note.
" 'Benefit Chicago' is about demystifying impact investing. Here's an opportunity for everyone to think about how they can put their investments to work in a good, social and financial way," said Jennifer Pryce, President/CEO of Calvert.
"This has never been available before. Impact investing has been complicated, or just for ultra high-end clients who have money for an advisor to help them structure these deals," she said. "So this is really democratizing and making it available for all of Chicago to get behind. The benefit is the amount of assets that we put to work for the community."
In recent years, MacArthur, with a 30-year track record in impact investing, saw increased inquiries for its expertise in the field; the rising interest in part driven by Millennials who are receiving large transfers of wealth from baby boomers; and women living longer, inheriting large sums, and building businesses.
So MacArthur reached out to the 100-year-old Community Trust, with its expertise in funding Chicago needs; and then to Calvert, with its expertise in connecting investors to causes since 1995.
More information can be obtained at benefitCHI.org
# CALVERT FOUNDATION JENNIFER PRYCE CHICAGO
by Taboola Sponsored Links You May Like
Former Congressman: Get Ready For Financial Martial Law
Stansberry Research
Don't do it! The game that will have you hooked!
Stormfall: Free Online Game
10 Celebrities Who Are Said To Smell Awful
Answers
Homeowners Born Before 1976 Are In For A Big Surprise
Bills.com
She Puts An Onion In Her Ear. The Reason Why Is A Fascinating Trick That Everyone Should Know
Answers
These Pics of Cats Before & After Being Adopted Will Warm Your Heart
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Follow
Follow "Chicago Sun-Times"
Get every new post delivered to your Inbox.
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