Oak Park’s diversity, one of the primary reasons people love living here, is largely due to the efforts of the Oak Park Regional Housing Center. Therefore, it is vital that the Center is able to continue funding its work in the near and distant future.
To do that, the Oak Park Regional Housing Center has established the Fund for Diversity at the Oak Park River Forest Community Foundation. The Foundation manages more than 30 endowments of not-for-profit organizations serving Oak Park and River Forest citizens.
“The Housing Center’s mission is to achieve meaningful and lasting racial diversity in Oak Park and surrounding areas, and the Community Foundation’s mission is to strengthen our community through philanthropy,” says Rob Breymaier, executive director of the Housing Center. “Those interrelated goals make this a solid partnership.”
The Housing Center is establishing the endowment to provide a new strong and stable base of ongoing support. The Fund for Diversity will begin with $50,000. With this type of endowment, funds are invested so that earnings can be allocated to the organization each year over the long term. When proper discipline and asset allocations are applied, that annual distribution will keep pace with inflation and allow an organization to budget appropriately for an annual stream of income.
“We know we have to start somewhere and our Board and staff are committed to ensuring that our mission will endure,” Breymaier says. “While we know it is a huge goal and long-term strategy, our ultimate goal is to grow the Fund for Diversity to $20 million.” A fund of this size will be enough to ensure that the Housing Center can continue its important work indefinitely on behalf of the community and provide a model for other communities across the nation.
“Diversity is one of the key reasons people intentionally choose to live in Oak Park,” says Kristin Carlson Vogen, president and CEO of the Community Foundation. “With our diversity, we are a more vibrant community. The Community Foundation is delighted to partner with the Housing Center to ensure that our diverse and vibrant community continues forever.”
For more information about the endowment, contact Rob Breymaier, executive director of the Housing Center, at email@example.com. To donate to the Fund for Diversity, click here.