CIC Selected as Recipient Under MacKenzie Scott’s Giving Pledge

12.15.205.25.21

CIC is pleased to announce that it has been awarded a major unrestricted grant from philanthropist MacKenzie Scott to accelerate its work in providing credit and resources to support affordable rental housing and local building owners in Chicago. The $8 million gift represents the largest individual grant ever received in CIC’s 45 year history.

“We are thrilled and humbled by Ms. Scott’s confidence in CIC’s work to expand access to credit in all Chicago neighborhoods, especially at an unprecedented time of great need when small building owners and tenants are struggling,” said Jack Markowski, President and CEO of CIC.

“We know that people and communities of color have been disproportionately affected by the pandemic and resulting economic challenges,” Markowski explained. “This gift will have a major impact on our ability to preserve buildings in communities of color, support local minority- and women-owned businesses, and ultimately provide quality, affordable homes to vulnerable renters across our region.”

“We are thrilled and humbled by Ms. Scott’s confidence in CIC’s work to expand access to credit in all Chicago neighborhoods, especially at an unprecedented time of great need when small building owners and tenants are struggling.”

Jack Markowski, CIC President

The gift was announced in a blog post by Ms. Scott, who has previously committed to donating the majority of her wealth during her lifetime. CIC is among 384 organizations receiving a total of $4.2 billion. Ms. Scott said she focused on organizations with strong leadership teams and results, with a focus on those operating in communities facing high measures of racial inequity and poverty, among other criteria. As she explained in her announcement, “This pandemic has been a wrecking ball in the lives of Americans already struggling. Economic losses and health outcomes alike have been worse for women, for people of color, and for people living in poverty.”

“We are honored to be a part of Ms. Scott’s bold philanthropic vision,” said David Dykstra, CIC Board Chair. “It demonstrates the importance of investing in communities, and it will significantly enhance CIC’s mission and leverage CIC’s other sources of support.”

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