Two years after Chicago philanthropist Richard Driehaus died, his foundation is awarding more than $5 million in “transformational” legacy grants to support the causes he cared about most — historic preservation, the arts and investigative journalism.
Renowned investment manager Richard Driehaus speaks at a CFA Society meeting at the The Metropolitan Club in the Willis Tower in 2017.
, the three-story West Loop birthplace of house music, as well as the Century and Consumers buildings, terra cotta skyscrapers facing demolition in the Loop. It is the largest but not the first transformative grant the Driehaus Foundation has bestowed upon the century-old BGA. A supporter for more than 20 years, Driehaus awarded a $1 million matching grant in 2011 that provided a catalyst for reviving a news organization which had dwindled to three employees and a $300,000 annual budget in the new millennium. The BGA has since grown into a robust newsroom with 24 employees and a $5 million annual budget.
The Driehaus Foundation also awarded $1.5 million to Arts Work Fund, a collaborative fund that provides grants for small arts and cultural organizations in Chicago and Cook County. Driehaus has partnered with Arts Work Fund since its inception in 2007. The foundation is also awarding a $125,000 legacy grant to the American College of the Building Arts in Charleston, South Carolina.
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