Economic Opportunity Challenge

Chicago Asset-Building for Children (Chicago ABCs)

The Chicago Community Trust

Chicago ABCs will braid three proven strategies: child savings accounts, cash transfers and visiting nurses in a dual generation approach propelling families to economic security.

Last Updated: February 2022
DOWNLOAD: Project Factsheet
Two-page overview of proposal
Competition Participation
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Economic Opportunity Challenge
Subject
Economic mobility
  • Heartland Alliance
Current Work Location(s):
  • Illinois, United States
  • Illinois, United States
Priority Population(s):
  • People of African descent
  • People of Latin American descent
  • Economically disadvantaged people
Sustainable Development Goals (SDGs):
  • 1. No poverty
  • 3. Good health and well-being
  • 8. Decent work and economic growth
  • 10. Reduced inequalities

Executive Summary

Chicago ABCs will build on two recent public commitments - Illinois’ new universal child savings accounts (CSA) and the City of Chicago’s Family Connects visiting nurse program – to drive economic opportunity for 4,600 financially vulnerable families with additional transformational CSA deposits of $500 to $750 and cash transfers of $50 each month over 18 months. Cash transfers and home visiting programs are proven strategies that provide families immediate and direct financial, emotional, and physical support when a child is born. CSAs are powerful tools that invest in a child’s future career path. When combined, they provide investment and hope to families both now and in the future, creating a web of support from a child’s first days and propelling them through adulthood.

Organization Details
Lead Organization

The Chicago Community Trust

website: https://www.cct.org/
Organization Headquarters
Illinois, United States
Organization ID
36-3432023
Number of Full-time Employees
51 to 100
Annual Operating Budget
$10.1 to 25 Million
Type
Non-profit

Charity, fund, non-governmental organization, religious institution, school, or other entity

Organizations may provide budget and employee data based on this proposal or the organization as a whole. For more information on this proposal or organization, please email us.

Accomplishments

While each of the Chicago ABCs partners have made progress in developing individual elements of the proposed partnership, as a group we continue to seek funding for the partnership, which will interweave the elements for a truly comprehensive, dual-generation approach to wealth-building.

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