Nov 9, 2011
Over 150 members of Chicago’s nonprofit and business communities turned out on October 25th to celebrate a new kind of philanthropy. Two socially responsible Chicago institutions–Urban Partnership Bank and the social enterprise Investing In Communities–teamed up, one as event host and one as donor, to give $42,000 to nonprofits.
The $42,000 in funds resulted from a real estate transaction between an established commercial real estate firm, MAP Real Estate, and Urban Partnership Bank (UPB), a new FDIC-insured community bank and certified Community Development Financial Institution. Investing In Communities (IIC) enables individuals and businesses to connect with socially conscious real estate professionals and generate free funding for their favorite nonprofits. As an IIC Member, MAP Real Estate’s principal Michael Pink committed 15 percent of the commission he earned representing UPB in a lease transaction for donation, through IIC, to other nonprofits. Through IIC, this ordinary brokered transaction became a philanthropic event that generated unrestricted funding for 15 nonprofit beneficiaries.
The Workshop was proud to be a part of this exciting philanthropic event, working with the two organizations this year to spread the word about the new model and plan the event, and we want to congratulate the winning nonprofits. We would also like to thank special guest Bill Lowry of The Chicago Community Trust for joining us at the event and assisting with the drawing.
One $10,000 Award to: Community Shares of Illinois
Three $5,000 awards to: Dreams For Kids; Play For Life International; and Thousand Waves
Four $2,500 awards to: Centro San Bonifacio; Chicago Bilingual Nurse Consortium; Illinois Maternal and Child Health Coalition; and PAWS Chicago
Seven $1,000 awards to: Bear Necessities Pediatric Cancer Foundation; Changing Worlds; Donors Forum; Gnosis, Ltd.; KIPP Chicago; Opportunity Works Connecticut, Inc.; and Science Olympiad
“Attorneys, bankers, doctors—these professionals all have mechanisms in place through pro bono work or the Community Reinvestment Act or foundations that support their profession in giving back to the nonprofit community,” says Pink. “Investing In Communities enables real estate professionals to do that in a way that also makes them more attractive to potential clients.”
Since making its first distribution in May 2010, Investing In Communities has distributed more than $104,000 to nonprofits including Women Employed, Health and Medicine Policy Research Group, Children’s Memorial Hospital Foundation, and the Family Defense Center.
If you’re a nonprofit and you’re interested in becoming eligible for these types of funds in the future, learn more about becoming a Partner of Investing In Communities.