Bridging Chicago’s Past and Future: Fueling the Next Era of Innovation and Equity

Chicagoans have a long history of facing and tackling seemingly impossible tasks head-on. Whether it’s the sheer will required to quickly rebuild from the devastating Great Fire of 1871, the audacity to reverse the flow of the Chicago River, or the colossal feat of breaking the curse of the Cubs, the city is defined by a refusal to fail. This readiness to take on the seemingly impossible is the same spirit that underpins the work of GreenLight Fund Chicago.

While the team is made up entirely of Chicago natives, the city itself is vast and complex, with overlapping cultures, customs, joys, and pains. That’s why the GreenLight Method is built on spending time within the community, listening and learning from our neighbors during each step of our process.

When Executive Director Hermilo Hinojosa began his journey, he had the privilege of diving deeper into the issues facing Chicagoland. With each conversation and every new relationship formed, he was reminded of the immense diversity of challenges and opportunities within our community.

“One of the most rewarding aspects of the last two years has been the growth of my network,” says Hinojosa. “I’ve met an incredible array of people, community members, nonprofit leaders, and advocates who each bring their own stories, expertise, and solutions to the table. Being part of a national network has further broadened my perspective, introducing me to proven programs and models from across the country. These connections have not only deepened my knowledge but also highlighted the collaborative spirit needed to address systemic issues effectively.”

After expanding the team with the addition of Program Manager, Tanicia Burns, and Coordinator, Jordan Thomas, Hermilo prioritized forming the local Selection Advisory Council (SAC), core to GreenLight’s model. The SAC is designed to bring together a group that might not otherwise be at the same table. The group includes leaders and experts from the private sector, nonprofits, philanthropy, public sector, residents with lived experiences and grassroots leaders with representation across many demographics including socio-economic groups, age, ethnicity/race and neighborhoods.

Despite Chicago’s long history as an engine of economic opportunity, the city still faces a profound racial wealth gap. Minority communities experience unemployment and poverty rates three times higher than white counterparts, and 71% of Latino and 67% of Black households lack enough savings to cover three months of expenses. Community members emphasized that addressing systemic inequities requires solutions that go beyond financial education to provide tangible resources and capital. As Aldo Quinones, Diverse Segments Market Consultant at Wells Fargo Home Mortgage and SAC member, notes, “Sustainable community growth requires more than just job creation; it requires equitable access to the tools of wealth-building. We have to ensure that opportunity flows into all of our neighborhoods.”

GreenLight’s Method focuses on finding a lever that can be pulled to make a large, sustainable impact. That lever we found was Compass Working Capital (Compass) and the Family Self-Sufficiency (FSS) program. FSS is a HUD program that helps families receiving housing assistance achieve economic independence. 

Mary Howard from the Chicago Housing Authority (CHA) adds, “This opt-out program pilot empowers families to build wealth, achieve financial goals and ultimately transition off public assistance. It’s a proven pathway to long-term success and a journey toward dreams.”

When families in the program earn more and their rent goes up, the extra amount they would normally pay is set aside in a savings account for them instead. Participants work with a Compass case manager and receive financial coaching to set personal and employment goals, access resources like job training and childcare, and receive an interest-bearing escrow account that grows as their income increases. Many participants have goals that include education, buying a home, or starting a business. This is a people-centered approach that combines compassion, coaching, and genuine engagement, with strong partnerships with local community services.

Chicago’s history of bold innovation provided the perfect backdrop for launching a new approach to FSS, becoming the first major city to utilize an opt-out method for enrolling FSS participants. Just as employer-based retirement plans see dramatically higher participation rates when people are automatically enrolled.

“The partnership with the CHA holds the potential to transform the FSS Program and to serve as a model for housing authorities across the nation,” says Markita Morris-Louis, CEO of Compass Working Capital. “Not only will this be a great asset-building opportunity for people in Chicago, it also promises a larger impact nationally.”

Nearly 1,000 CHA households were automatically enrolled this year, an 80% increase in participation compared to traditional enrollment; this level of growth would have taken years under an opt-in system.

Chicago has an undeniable legacy of social innovators who addressed systemic problems head-on like A. Philip Randolph, who helped found and lead the first African American-led labor union; Robert Sengstacke Abbott, who founded The Chicago Defender in 1905 to give voice to the African American community; and Jane Addams, founder and leader of Hull House.

It is this long-standing spirit of tackling insurmountable issues that GreenLight looks to as we strive, with our partner organizations, to face and begin to solve some of today’s problems.

As Hermilo Hinojosa reflects, “As we’ve worked to identify the first organization to join our portfolio, I’ve been reminded time and again of the power of collective action. The challenges are vast, but so are the resources, ideas, and partnerships available to tackle them. Each perspective shift makes us stronger, more informed, and better equipped to drive change.”

The story of GreenLight Fund in Chicago is an extension of the city’s own narrative: one of constant striving, bold creation, and a deep commitment to its people. The spirit that rebuilt the city is the same spirit that powers our work today, promising a vibrant and equitable future for all.