Benefit Chicago: Fostering Place-Based Collaboration
Benefit Chicago is a new collaboration that aims to mobilize $100 million in impact investments for nonprofits and social enterprises working throughout the Chicago region. Created by The Chicago Community Trust, the John D. and Catherine T. MacArthur Foundation, and Calvert Foundation, Benefit Chicago provides a new way for everyone who cares about Chicago to invest for impact in the city.
Benefit Chicago is designed to allow everyone to participate – individuals, businesses and institutions. Investors purchase Chicago-targeted Community Investment Notes® issued by Calvert Foundation. These are fixed-income securities with principal maturities ranging from one to 15 years and interest payable annually. They are available through a brokerage account with a minimum investment of $1,000 or online starting at $20. Investors can purchase Calvert Foundation’s Chicago-targeted Notes in two ways:
- Start a donor-advised fund at The Chicago Community Trust and designate some or all fund assets for investment in a Chicago-targeted Note®. Current fund holders at The Trust also may allocate existing or additional funds to these Chicago-targeted Notes®. Visit www.cct.org.
- Invest through your own financial advisor, through your brokerage account, through your donor-advised fund at any institution, or online. Visit www.calvertfoundation.org/Chicago.
Individuals or institutions interested in purchasing a Chicago-targeted Note should visit benefitCHI.org to read the Calvert Foundation Community Investment Note prospectus.