Citi Foundation Grants a Collective $6 Million to Six Greater Chicago Nonprofits Working Locally to Increase Economic Opportunity in Latest Expansion of the Community Progress Makers Initiative
2024年5月15日 - 1:30AM
ビジネスワイヤ(英語)
Each of the six organizations is set to receive $1 million in
unrestricted funding over three years as well as access to a
learning community and network of Community Progress Makers across
the country
The Citi Foundation (“the Foundation”) today announced that six
nonprofits based in the greater Chicago area have been selected as
part of the fourth cohort of the Community Progress Makers
initiative.
First launched in 2015, Community Progress Makers provides
unrestricted funding to visionary organizations that work locally
to connect low-income communities to greater economic opportunity.
With this latest cohort, the Foundation has now committed $115
million in grants to Community Progress Makers since its
inception.
The current cohort of Community Progress Makers has been
selected through an open request for proposals (RFP) process
announced this past fall, which focused on organizations working in
the areas of affordable housing and access, economic development,
financial health and workforce readiness.
“Unrestricted grant support is in high demand and low supply and
we have witnessed how transformational this type of funding can be
for community organizations,” said Brandee McHale, President of
the Citi Foundation and Head of Citi Community Investing &
Development. “This is why we are pleased to support the
innovative solutions and deep community work that the organizations
in this fourth cohort of Community Progress Makers are leading in
the greater Chicago area through flexible, trust-based
funding.”
“The Citi Foundation’s Community Progress Makers initiative is
an important philanthropic investment in Chicago-area nonprofits,
furthering our shared mission to enable growth and economic
progress,” said Mindy Mercaldo, Head of U.S. Branch Network,
Citi. “With flexible grant support and access to an expansive
resource network, these leaders are ready to put more people on a
path to financial health.”
All recipients will have access to a learning community where
they can collaborate and share best practices with a network of
Community Progress Makers across the country, as well as receive
technical assistance delivered by national experts and leading
researchers. Combining their local expertise and track record of
community impact with a national network of resources and
changemakers, these nonprofits are poised to accelerate their
community-based work in the greater Chicago area.
“Financial empowerment and well-being are essential for building
stronger, more resilient communities in Illinois," said Lt.
Governor Juliana Stratton. "The Citi Foundation's Community
Progress Makers initiative provides vital support and resources,
empowering mission-driven organizations to dismantle barriers and
pave the way for a future that champions equity and inclusivity for
everyone."
These are the community organizations selected to the fourth
cohort of Community Progress Makers in the greater Chicago
area:
- Chicago Community Loan Fund
- Ladder Up
- North Lawndale Employment Network
- Sunshine Enterprises
- Women's Business Development Center
- Working Credit
“With an unrestricted grant of this size, the Citi Foundation is
signaling its trust in community organizations like ours working on
the local level,” said Brenda M. Palms, President and CEO, North
Lawndale Employment Network. “We are thrilled to join the
fourth Community Progress Makers cohort and energized by the ways
in which this support will catalyze our efforts to reduce barriers
to employment in Chicago for years to come.”
For more information, please visit citifoundation.com/cpm and
follow the impact these organizations are making at #ProgressMakers
on social media.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240513198426/en/
Andrew Talbot, Citi Foundation Communications |
andrew.talbot@citi.com