CHICAGO, IL / ACCESSWIRE / September 14, 2023 / Northern Trust: announced today the inaugural Northern Trust Anchor Award, which will grant up to $1 million to one Chicago-based, innovative nonprofit organization to accelerate its growth and positive impact.
The Anchor Award is a new facet to Northern Trust's nearly 135-year history of ongoing philanthropic support. Northern Trust has donated more than $170 million over the past decade with a global philanthropic strategy focused on broadening opportunities for financial success with support in four areas of fundamental need: accessible healthcare, affordable housing, quality education and food security.
"Northern Trust is committed to creating better financial futures for the communities where we live and work," Chairman and Chief Executive Officer Michael O'Grady said. "The Anchor Award continues our legacy of elevating change-making organizations."
Northern Trust has a long history of groundbreaking philanthropic support. In 1893, Northern Trust founder Byron L. Smith seeded a relief fund for victims of a devastating fire that broke out at the World's Fair. Since then, Northern Trust's charitable footprint has helped establish Chicago's nonprofit pillars such as The Art Institute, Field Museum, United Way of Metro Chicago, Metropolitan Family Services, Braven and Kids First Chicago.
"The Anchor Award aims to provide support to a highly effective 501(c)(3) nonprofit organization by granting them up to $1 million to strengthen their overall organizational capacity and effectiveness," Director of Corporate Philanthropy Shana Hayes said. "The grant may support the nonprofit's infrastructure, systems, skills, and resources or other initiative aimed at improving the organization's ability to serve individuals aged 16 to 24 on Chicago's South and West sides."
Northern Trust invited select past or current Northern Trust Foundation grantees with an organizational budget between $2 million and $10 million to participate in the Anchor Awards process. Northern Trust has named four finalists for the Anchor Award:
- Chicago Furniture Bank is the largest furniture bank in the country. It is growing rapidly and has quickly become a critical resource in procuring and providing furniture to support a network of 400+ community-based organizations and thousands of clients each year.
- Chicago Scholars works with academically ambitious, first-generation college-going students who live and attend high school in Chicago. When these students persist through a seven-year program, they not only get through college - they build futures where they can truly thrive.
- Genesys Works' mission is to provide pathways to career success for high school students in underserved communities through skills training, meaningful work experiences, and impactful relationships. We envision a future where all young adults are equipped and empowered with the knowledge and skills required to achieve career success, upward mobility, and a lifetime of economic self-sufficiency.
- Nourishing Hope provides food, mental health counseling and social services to Chicagoans in need. Founded in 1970, Nourishing Hope is one of Chicago's largest and longest-operating hunger relief organizations, providing the equivalent of 4 million meals annually.
The Anchor Award winner will be announced in November.
"We congratulate the Anchor Award finalists," Hayes said. "They all are exemplary organizations that further advance our mission to serve young people from Chicago's South and West sides by supporting their needs and putting them on to the path of long-term financial well-being."
About Northern Trust
Northern Trust Corporation (Nasdaq:NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has a global presence with offices in 25 U.S. states and Washington, D.C., and across 22 locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of June 30, 2023, Northern Trust had assets under custody/administration of US$14.5 trillion, and assets under management of US$1.4 trillion. For more than 130 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit us on northerntrust.com. Follow us on Northern Trust Corporation on LinkedIn.
Northern Trust Corporation, Head Office: 50 South La Salle Street, Chicago, Illinois 60603 U.S.A., incorporated with limited liability in the U.S. Global legal and regulatory information can be found at https://www.northerntrust.com/terms-and-conditions.
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