Board of Directors
The Chicago Low-Income Housing Trust Fund is a 501(c)(3) nonprofit corporation. The Board of Directors provides oversight and direction for the organization, sets policy, establishes the budget and monitors expenditures.
The Board of Directors is comprised of 15 individuals who live in the City of Chicago, have diverse backgrounds and expertise and represent non-profit organizations, private corporations and City government. They are appointed by the Mayor of the City of Chicago and confirmed by City Council.
The Board meets monthly and there are four committees of the Board: Allocations, Executive, Finance and Outreach.
Purpose: To review applications and requests, making recommendations for funding through Trust Fund programs and special initiatives.
Chair: Tom McNulty
Co-Chair: Grace Chan McKibben
- To establish an annual framework for spending funds
- To review all potential rental subsidy, MAUI and other programmatic funding issues before the Board
- To provide recommendations to the Board on funding requests within budget guidelines
- To discuss other long-term issues related to spending for programs
- To undertake other tasks related to the committee’s purpose or as assigned by the Board
Purpose: To review all major financial matters and regularly review all proposed budgets, financial statements, audits and proposals for major transactions.
Chair: Andrew Geer
- To review monthly financial reports
- To review and recommend any actions or modifications to the budget as needed throughout the year through regular review of the financial reports
- To review and recommend the annual budget
- To develop with staff and financial consultants all necessary policies to guide the work of the organization
- To periodically review the performance and relationship with bank, investment manager, auditor and any other agreement for contractual services
- To review and recommend specific investment strategies for the Corpus and Investment Account brought by the Investment Manager
- To recruit and select the person / firm to conduct the annual audit
- To review the audit report and findings of the auditor
- To undertake other tasks related to the committee’s purpose
Purpose: To develop public information about the Trust Fund.
Chair: Justin DeJong
- To review and provide direction for educational and outreach materials for the Trust Fund including the website, newsletter and other public information tools
- To provide input to staff related to media releases as needed
- To disseminate information about the Annual Meeting
- To provide input to staff and Board regarding Springfield-based lobbyist, a reporting procedure for State lawmakers and staff on Trust Fund work and accomplishments (Note: Hours worked will not exceed the level permissible by law.)
- Undertake other tasks related to the committee’s purpose