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About Us

Benefit Chicago is mobilizing $100 million in impact investments

to finance the growth of impact enterprises throughout the Chicago region to:

  • Build wealth

    in or for communities through economic development, growth of community assets, and support for community-based entrepreneurs.

  • Create jobs

    that are accessible to community residents, particularly those for whom access to employment can be a challenge.

  • Enhance job readiness

    and skills for those seeking to find, maintain, and advance in employment.

How It Began

Launched in 2016, Benefit Chicago is a collaboration between the MacArthur Foundation, The Chicago Community Trust, and Calvert Impact Capital that raised and deployed close to $100 million in catalytic capital for nonprofits and social enterprises in Chicago. The goal of this unprecedented and innovative impact investment effort is to create jobs, build wealth, and tackle other social and economic challenges, with a special focus on communities of color, low-income households, and historically marginalized communities.

Photo of Investor on Chicago Street

Investing in Impact

To implement the Benefit Chicago initiative, MacArthur formed a sole member limited liability company, known as Arc Chicago, LLC (Arc). MacArthur made a $50 million equity commitment to Arc and Calvert Impact Capital is providing up to $50 million to Arc through a loan. Calvert raises capital for this loan from the sale of fixed-income notes to a range of investors, including more than $35 million from donor-advised funds sponsored by The Chicago Community Trust.


Arc is governed by a board of managers and staffed by experienced members of MacArthur’s Impact Investments team in accordance with a services agreement between MacArthur and Arc. Team members include:

Arc Board of Managers

Arc is governed by a board of managers that includes Foundation senior officers and outside community leaders, including a representative of the Chicago Community Trust and other outside experts with deep experience investing in Chicago communities:

  • Joshua Mintz

    Vice President, General Counsel, and Secretary, MacArthur Foundation (Arc Chair)

  • Debra D. Schwartz

    Managing Director, Impact Investments, MacArthur Foundation

  • Joanna Trotter

    Senior Director of Community Impact, The Chicago Community Trust

  • Trinita Logue

    Founder of IFF

  • James Casselberry

    Chief Investment Officer at 4S Bay Partners, LLC

Affiliations for information only.


Powered by deep philanthropic commitment, knowledge of the social sector in Chicago, and long-standing impact investing experience, Benefit Chicago provides a new way for individuals, organizations, and institutions that care about Chicago to invest for impact and make this region a better place for all.

The Chicago Community Trust

has been serving the people of metropolitan Chicago for more than 100 years to bring about conditions for a thriving region where all residents enjoy a high quality of life and opportunities for a better future in a prosperous and inclusive community.

The John D. and Catherine T. MacArthur Foundation

supports creative people, effective institutions, and influential networks building a more just, verdant, and peaceful world. The Foundation has a 35-year track record in impact investing and has dedicated $500 million of its investment assets solely to this purpose. The Foundation is deeply committed to its hometown, where it has invested $1.3 billion in Chicago-area organizations and individuals since 1978.

Calvert Impact Capital

is a global impact investing intermediary that connects investors with the causes and places they care about through its Community Investment Note®. Since 1995, Calvert Impact Capital has helped investors create measurable social impact in communities, with a 100 percent repayment rate of principal and interest to its investors.

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