Together Fund (Local Business) – We Rise Together

Background

We Rise Together: For an Equitable & Just Recovery is a coalition of public and private funders and communities accelerating equity in the Chicago region’s economic recovery so everyone who lives here can reach their full potential. To catalyze an equitable economic recovery from the COVID recession, We Rise focuses on grantmaking and engagement in communities hardest hit by COVID and those that are a majority Black and Latine because they are the places and people disproportionately affected by the pandemic.

Need/Opportunity Statement

In historically underserved, low-income neighborhoods across the Chicago area, mid-stage businesses and worker-owned cooperatives play a critical role in fostering economic vitality, creating jobs, and strengthening social connections. However, many of these businesses face persistent challenges in scaling their operations, securing the tools and resources necessary for growth, and effectively harnessing growth opportunities.

However, they often operate with constrained resources and limited access to the capital, vendors, and infrastructure needed to achieve their full potential. Similarly, worker-owned co-ops offer a powerful model for shared ownership and wealth-building, empowering employees with a direct stake in the success of their enterprises. Yet, co-ops face unique challenges in securing resources for infrastructure, awareness, and technical support, particularly in sectors like retail, manufacturing, and trucking that are traditionally underfunded.

By moving resources directly to nonprofits working alongside these businesses, we aim to catalyze their ability to grow revenue, expand capacity, and invest in transformative initiatives like acquiring commercial spaces, adopting advanced tools, and strengthening their operational resilience. This RFP invites applications that present strategic approaches to strengthen these enterprises, supporting a sustainable recovery and fostering a resilient economic foundation across the region.

Goals & Outcomes

While this is a one-year grant, the activities supported through this funding should be designed to contribute to the broader, long-term goals of improving local economic resilience. Work completed during the grant period should build a strong foundation for continued progress toward the following goals:

• By supporting business growth and cooperative development, projects should create stable job opportunities, increase local spending, and increase economic resilience within low-income neighborhoods.
• Through cooperative models and local business growth, projects should promote shared wealth-building, economic autonomy, and the growth of the local economy.
• Programs should enable businesses to scale effectively, increasing their capacity to serve and uplift their communities.
• Measure changes in access to capital, financial literacy, and use of business management tools.
• Track the number of new jobs created or maintained, particularly full-time roles with family-sustaining wages.
• Monitor improvements in operational resilience, such as enhanced access to infrastructure, technology, or technical assistance.

While this is a one-year grant, the activities supported through this funding should be designed to contribute to the broader, long-term goals of improving local economic resilience. Work completed during the grant period should build a strong foundation for continued progress toward the following goals:

• By supporting business growth and cooperative development, projects should create stable job opportunities, increase local spending, and increase economic resilience within low-income neighborhoods.
• Through cooperative models and local business growth, projects should promote shared wealth-building, economic autonomy, and the growth of the local economy.
• Programs should enable businesses to scale effectively, increasing their capacity to serve and uplift their communities.
• Measure changes in access to capital, financial literacy, and use of business management tools.
• Track the number of new jobs created or maintained, particularly full-time roles with family-sustaining wages.

Monitor improvements in operational resilience, such as enhanced access to infrastructure, technology, or technical assistance.

Outcomes include up to three of the following:

• Build Knowledge and Narrative
• Improve Overall Financial Health
• Increase Fundamental Business Finance Knowledge and Application
• Strengthen Workforce

Eligibility

_You can learn more about this opportunity by visiting the funder's website._

• To be eligible for a grant award, an applicant must:
  • Represent that it is, and shall remain through the Grant Period
  • (i) an organization in good standing,
  • (ii) either a governmental unit or an organization described in Section 501(c)(3) of the U.S. Internal Revenue Code of 1986, as amended (the “Code”),
  • (iii) not a “private foundation” within the meaning of Section 509(a) of the Code,
  • (iv) an organization exempt from taxes under 501(c) of the Code; or for purposes of this grant
  • (v) is fiscally sponsored by a Section 501(c)(3) organization\*.
  • Ensure the grant does not benefit any private person or entity in violation of Section 501(c)(3) of the Code.
  • Be located within and/or primarily serving residents of Cook County, Illinois.

Ineligibility

• Grant funds shall not be used for:
  • Electioneering or political activities
  • Contributions to any candidate for public office or political committee
  • Campaigning on behalf of or in opposition to any candidate for public office