A New Philanthropy: Bank Generates $42,000 for Nonprofits with IIC

October 3, 2011 at 4:45 pm

On October 25th Investing In Communities and Urban Partnership Bank will give away $42,000 to nonprofits. But this isn’t just textbook charity. The event represents a new approach to philanthropy, and a new model for public-private sector collaboration in which everyone – companies, professionals, nonprofits, and society – benefits.

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Consider these two facts. They’re pretty much old news.

A) Companies use a lot of real estate.

B) Companies give to a lot of money to nonprofits

Investing In Communities (IIC) and Urban Partnership Bank (UPB)  have  used these facts to write a new equation:

A + IIC = B

Except, now B doesn’t cost the company a penny.

Yes that’s right. B - giving away money to nonprofits – is free when IIC enters the equation.

So I guess your might say …

A + IIC = (Free)B

Sorry, couldn’t resist.

If this seems a little too good to be true, here’s how the whole thing works. Read the overview, or dig in for all the details (spoiler alert – it’s boring). Okay now that you’ve got the how you might be asking, “Why would real estate professionals give 10% of their commission to their client’s favorite nonprofits?” Check out the IIC model here, or just visit “Why IIC?”

Now that we’re through the boring stuff, back to the $42,000.

Urban Partnership Bank is known in Chicago for its commitment to building stronger communities. As an FDIC-insured community development bank, UPB understands the vital role nonprofits play in creating  safer, healthier, more vibrant, and more livable neighborhoods. So when the bank needed to lease office space in downtown Chicago, using IIC was a natural decision. Working with an IIC Member allowed the bank to generate the $42,000 in philanthropic funding at no cost.

Now UPB and IIC get to have a grand old time giving this money away at the opening celebration of the bank’s new branch and banking center in  downtown Chicago. Everyone loves a party.

Interested in learning more? Then shoot us an email at anna@iiconline.org, or come join the celebration on October 25th!