Northern Trust Pledges $70 Million to Enhance Economic Opportunity in Chicago
By M.J. Prest
Senior Editor, Advice
July 31, 2024 | Read Time: 3 minutes
Here are notable new grant awards compiled by the Chronicle:
Northern Trust
$70 million to its Northern Trust Foundation to enhance financial success for young people ages 16 to 24 in the Chicago metropolitan area through improved access to health care, affordable housing, education, and food security.
The wealth-management company’s commitment represents part of the profits from its recent sale of stock in Visa that Northern Trust has held since Visa’s initial public offering in 2008.
ClimateWorks Foundation
$50 million commitment to make grants for adaptation and resilience projects to help people in regions of the world that are experiencing extreme heat as a result of climate change.
The foundations that have contributed to the new effort include the Arab Foundations Forum, the Autodesk Foundation, Bloomberg Philanthropies, the Children’s Investment Fund Foundation, Humanity United, the Howden Foundation, the Laudes Foundation, Quadrature Climate Foundation, the Rockefeller Foundation, the Shockwave Foundation, the Trafigura Foundation, and the Wellcome Trust.
American Student Assistance
$25 million to Jobs for the Future to create the ASA Center for Career Navigation, which will help young people choose the right paths after high school to further their education and careers.
Gilead Sciences and the Elton John AIDS Foundation
$25 million over five years to continue their Radian partnership that supports grassroots efforts to control the spread of HIV in Eastern Europe and Central Asia.
Michael J. Fox Foundation for Parkinson’s Research
$6 million to Lario Therapeutics, in collaboration with the Oxford Parkinson’s Disease Centre, to develop precision medicines for epileptic and neurological disorders.
Rasmuson Foundation
$5 million over five years to the University of Alaska to strengthen its Arctic Leadership Initiative, which offers leadership training to residents of Alaska.
Pollock-Krasner Foundation
$3.1 million to 97 artists and nonprofit organizations to support the arts in the United States and around the world.
John Templeton Foundation
$2.5 million over three years to University at Buffalo’s Philosophy, Politics and Economics program for a research project to study how diversity of opinion, disagreement, and free speech promote democratic ideals and an open society.
Foundation Fighting Blindness
$1.5 million over three years to the Case Western Reserve University School of Medicine to test a new oral drug that may treat retinitis pigmentosa, an inherited retinal disease that causes blindness and for which no therapy is currently available.
Iovino Family Foundation
$1 million through its Impact Prize to four nonprofit groups that boost employment opportunities for people from marginalized backgrounds.
The recipients sharing the cash prize this year are the Evanston Rebuilding Warehouse, Lost Angels Children’s Project, Rise Up Industries, and West Virginia Women Work.
Robert David Lion Gardiner Foundation
$1 million to the PBS Foundation to support its history documentary series American Experience.
New Grant Opportunity
The Giving Green Fund is accepting proposals for grants to lower emissions of greenhouse gasses. Its Growth Grants program will support new climate mitigation projects either from small organizations or established nonprofits that are expanding into new mission areas, and will support research projects, analyses, or conferences. Ecosystem Grants will advance the most promising climate-mitigation strategies that prioritize industrial decarbonization, decreasing livestock emissions, nuclear power, carbon removal, transitioning to clean energy in low- and middle-income countries, and solar geoengineering infrastructure and governance. Grants will range in value from $50,000 to $500,000 each. Letters of interest for 2024 grants are due August 31. Proposals for 2025 grants will be accepted on a rolling basis.
Chronicle of Philanthropy subscribers also have full access to GrantStation’s searchable database of grant opportunities. For more information, visit our grants page.
