During a City Club of Chicago event on Tuesday, Gillian Darlow, CEO of the Polk Bros. Foundation, discussed the importance of keeping local nonprofits financially stable so they can effectively provide community services.
Established in 1989, the Polk Bros. Foundation partners with other Chicago nonprofits to ensure the organizations have the financial resources necessary to provide Chicagoans with education, housing, healthcare and community-related services.
Darlow told the City Club audience, “This year we’ll make $26 million in grants to support about 380 organizations, all working in Chicago.”
The Polk Bros. Foundation’s work is particularly important because the current financial state of many nonprofits is bleak. As Darlow explained, out of all the organizations the foundation is working to help this year, approximately 40% have less money than they did last year.
In response to many nonprofit’s growing need, the Polk Bros. Foundation has lifted the administrative cap on its grants and now provides full program cost support for nonprofits that need additional funding to provide their services.
The mission of the Polk Bros. Foundation is to strengthen the Chicago community, with a focus on helping people in poverty. Darlow on Tuesday emphasized the importance of the role the foundation’s partner’s play in those efforts. “When nonprofits fail, people aren’t served,” she explained.
-Katie Cliff