During its August 2021 meeting, Polk Bros. Foundation’s Board of Directors approved a second year of significantly increased grantmaking to help Chicago continue to recover from the pandemic in a way that addresses persistent and significant racial inequities. The Board’s decision will add $8.5 million to the foundation’s FY22 grantmaking (representing a payout rate of nearly 8%), and brings the total of its increased grantmaking across both years to $17 million.
With a second year of increased grantmaking approved, the foundation anticipates its total FY22 grantmaking will be $33.5 million, a 34% increase over its regular grantmaking.
In FY21, the foundation awarded $8.23 million in increased grantmaking to support 26 efforts. These new, targeted investments are building economic growth, community wealth, housing stability, and community safety in south- and west-side communities, engaging CPS students in learning that is responsive to this moment and supports their academic growth, and tending to trauma and mental health. The funds are, importantly, also helping to increase the strength and sustainability of BIPOC-led organizations, and supporting grantees’ development of a racial equity lens in their work.
These areas of focus will continue to guide the Foundation’s increased FY22 grantmaking.