CHICAGO — Northern Trust Corp. has announced that it will start a donor-advised fund.
The banking company said on Wednesday that it has formed a partnership with Chicago Community Foundation and GivingCapital Inc. to offer the Northern Trust Charitable Giving Program, beginning Oct. 1.
The giving program is a donor-advised fund with Northern Trust as the investment manager and Chicago Community Foundation, an affiliate of Chicago Community Trust, as the sponsoring charity.
Northern Trust administers $116 billion for charitable foundations, endowments, and health-care institutions. Chicago Community Foundation has offered charitable services and grants in the Chicago metropolitan area for 90 years. It administers $1 billion of charitable assets.
