Since 1958, the W. Clement & Jessie V. Stone Foundation has sought to honor its founders’ vision for making the world a better place. W. Clement Stone grew up on Chicago’s South Side, where he began selling newspapers at the age of six and insurance policies as a teenager. His insurance work led to a multimillion-dollar enterprise, the Aon Corporation, and his experiences led to his lifelong philosophy of “positive mental attitude,” about which he published three self-help books.
Although the Stone Foundation focuses on five major U.S. cities, it is based in Chicago and centers much of its grantmaking close to home. Here are nine ways that the foundation supports Chicago.
1. Early childhood development
The Stone Foundation defines “early childhood” as ages zero to eight and aims to build an integrated early childhood system to nurture children’s success in school and life. In this focus area, the funder invests in programs to spark systems change, research, communication, professional development, and policy and advocacy efforts. Grantees include Illinois Action for Children and the Alliance for Early Success.
2. Education
To support education, the foundation invests in teacher preparation, professional development, and policy and advocacy. The funder’s goal in this focus area is to build a system of well-prepared teachers and leaders equipped to promote the success of all students regardless of background. Grantees include Advance Illinois and the Chicago Public Education Fund.
3. Youth development
Youth development is a key foundation interest, especially elevating the engagement and voice of youth ages 10 to 24 who are unheard, ignored or underserved. The foundation supports the capacity-building work of youth-focused nonprofits. Grantees include Chicago Freedom School and All Chicago.
4. Scholarships
In addition to grants, the foundation awards scholarships to accredited universities and colleges that identify need-based, exceptionally achieving recipients. Recent grantees include the University of Illinois at Chicago and UCLA Center X.
5. Stone Leaders for Change
The foundation also awards scholarships to youth leadership organizations that are part of its grantmaking portfolio through Stone Leaders for Change. With this program, the funder looks for individuals with proven leadership capabilities and the capacity to strengthen their youth-focused organizations. Grantees include the executive directors of the Chicago Freedom School and Communities United.
6. Field-building grants
To support responsive and rapidly moving projects, the Stone Foundation provides field-building grants for early childhood education, K-12 education and youth development. Only organizations previously receiving Stone’s support are eligible for these grants. Recipients include the Latino Policy Forum and Strategies for Children.
7. Special opportunity grants
Although most Stone grants fit within its primary focus areas, the funder occasionally awards grants for other purposes that complement its overall mission. These grants are available by invitation only.
8. Grantee convenings on equity
The Stone Foundation partners with Dr. Sherri Killins-Stewart and grantee leaders to host annual convenings about racial equity. These events aim to foster professional development opportunities and shared learning agendas to bring more equity to children and youth issues.
9. Impact investments
The Stone Foundation also supports Chicago through impact investments, which have been part of its strategy since 2012. Mission-related investments comprise over 10% of the foundation’s total endowment and address its broad vision of children’s and community health. Cambridge Associates advises the foundation’s investment portfolio, through which it supports organizations like Reach Capital, which focuses on educational technology and social impact.
However, even for grantseekers in Chicago, the Stone Foundation does not accept unsolicited grant proposals or investment solicitations. Learn more about this funder in IP’s profile of the Clement & Jessie V. Stone Foundation.
