Chicago’s legacy foundations adapt to new pressures, shift strategy amid rising inequality

A report in Crain’s Chicago Business looks at how historic Chicago philanthropic dynasties are reshaping their strategic giving amid rising inequality and weakened public funding. The analysis situates these changes within a broader legacy of Chicago philanthropy tied to figures like Gilded Age titans Julius Rosenwald and Marshall Field, now reinterpreted for the nation’s current civic and economic challenges. The article highlights how the John D. & Catherine T. MacArthur Foundation boosted its annual giving to support local news and pro-democracy efforts, the Polk Bros. Foundation redirecting funding toward racial equity, wealth building, and democratic participation, and the Field Foundation shifting toward larger, more strategic neighborhood investments and crisis response.