OVERVIEW: The New Coast Foundation focuses its grantmaking efforts on poverty in Chicago and provides grants in the areas of education, community mobilization, economic development, housing and wellbeing.
IP TAKE: This new foundation is looking to harness the spirit of entrepreneurship in Chicago and engage new donors to chip in and fight local poverty.
PROFILE: Founded in 2016 and publicly launched in 2018, the New Coast Foundation (NCF) is a social impact fund based in Chicago. Alex Ross is the founder and chairman of NCF and also the co-founder of the boutique venture capital fund called New Coast Ventures. This foundation operates as a public philanthropic venture fund and aims to “accelerate the impact of promising emerging organizations working to bring possibility to the communities and people of our city.” With an overarching focus on poverty, grantmaking prioritizes education, community mobilization, economic development, housing and well-being.
NCF supports organizations that address poverty in Chicago through these five interconnected impact areas. Education funding focuses on organizations that improve early childhood education, provide after-school programming, strengthen schools and assist the college transition. Community mobilization grants go towards addressing violence, restorative justice, legal support and parent involvement. Economic development grants support fair wages, job training and opportunities, asset building, and neighborhood revitalization. Wellbeing grants support preventative healthcare, mental health, and healthy food. Finally, housing grants support transitional shelters and affordable long-term housing opportunities.
New Coast grantees receive $300,000 over a three-year period. The foundation awarded its very first grant to VOCEL, an organization that runs an early learning center and a program for parents of children from birth to age three. It has also supported the Chicago nonprofit Working Credit, a financial wellness program. This funder provides unrestricted capital over a multi-year period, as well as coaching and technical assistance. Grants typically go towards emerging stages of organizational development and mitigating funding gaps in local philanthropy.Grantmaking is restricted to the Chicago area of Illinois.
It does not appear that this foundation accepts full unsolicited grant applications from local nonprofits. It does not maintain a website or offer a direct means of contact. An address is provided below.
PEOPLE:
Search for staff contact info and bios in PeopleFinder (paid subscribers only).
CONTACT:
New Coast Foundation
350 North LaSalle Drive, Ste. 1020
Chicago, IL 60654