Polk Bros Foundation Inc
Polk Bros Foundation Inc is a private independent foundation based in Chicago, Illinois. The foundation was incorporated in 1957 and is tax-exempt since June 1959. It was founded by members of the Polk family who owned and operated the Polk Bros. Inc. chain of retail stores, a Chicago institution that operated for nearly 60 years before closing in 1992. The foundation's assets were rolled over from the retail business.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
—
Annual Giving
$24.5M
-7.9% YoY
Grant Count
676
-5.6% YoY
Avg Grant Size
$36K
-2.4% YoY
Mission & Focus Areas
Mission: Polk Bros. Foundation is working to make Chicago a place where all people have the opportunity to reach their full potential.
Vision: Together the foundation envisions a time when every Chicagoan can have a secure home, a job that pays a living wage, good health and access to resources that protect their rights. A time when every child is well educated, safe, supported by family and community, and has the opportunity to be inspired by the arts.
Current Grantmaking Goals (as of October 2024):
- Closing the Life Expectancy Gap
- Building Community Wealth, Across Generations
- Fostering a Participatory, Multiracial Democracy
The foundation announced a two-year transition period beginning in October 2024 to shift toward these new goals with a more explicit focus on racial equity and racial justice. Previously, from 2014-2024, the foundation focused on Education, Philanthropy, Voluntarism & Grantmaking, and Human Services.
Grantmaking
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Geographic Focus
Where this funder awards grants
The foundation's grantmaking focuses primarily on Chicago, Illinois, with some activity in New York and California.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets: $319,274,988 (most recent filing)
Total Giving: $24,504,571
Revenue (2023): $12,187,680
Expenses (2023): $31,500,000
Total Assets (2023): $325,000,000
Total Liabilities (2023): $0
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | — | — | — |
| Revenue | — | — | — |
| Expenses | — | — | — |
| Qualifying Distributions | — | — | — |
| Net Investment Income | — | — | — |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
206 grants across all recorded years
Open Grants
3 open opportunities from Polk Bros Foundation Inc
Polk Bros. Foundation Grants
Polk Bros Foundation Inc
Amount
Varies
Deadline
Rolling / Open
RFP Focus: Emerging Strategies to Advance Shared Ownership Grant
Polk Bros Foundation Inc
Amount
Varies
Deadline
Rolling / Open
RFP Focus: Next Generation Power-Building Grant
Polk Bros Foundation Inc
Amount
Varies
Deadline
Rolling / Open
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
- Nancy Lewis – Chair
- Ellen Multack – Vice Chair
- Gillian Darlow – CEO & Assistant Secretary
- Amy Hill – VP Investments/Operations & Assistant Treasurer
- Sandra P Guthman – Chair Emeritus
- Howard Polk – Director
- Cherryl Thomas – Secretary
- Roberto Herencia – Treasurer
- Elizabeth Connelly – Director
- David Snyder – Director
- Peter Howard – Director
Compensation Overview
From 2024 IRS filing
No officer/director data available.
Recent News & Activity
Recent developments and announcements
In October 2024, Polk Bros. Foundation announced a significant strategic shift toward centering racial equity and racial justice in its work. The foundation began a two-year transition period to provide grantee partners with time and resources to plan for upcoming changes.
Polk Bros. Foundation to release three grant opportunities to support community-drivenIn February 2026, the foundation released three grant opportunities totaling $3 million to support community-driven efforts while informing the foundation's future grantmaking approach. These RFPs are part of the transition toward the foundation's new grantmaking goals and will be released on a staggered schedule through early May 2026.
Polk Bros. Foundation to release three grant opportunities to support community-drivenData last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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