Northern Trust, a Chicago-based financial services company, has announced it will direct $70 million to its philanthropic arm, the Northern Trust Foundation.

According to Northern Trust, the company has awarded more than $170 million in the past decade, including nearly $16 million in 2023, to nonprofits on Chicago’s south and west sides addressing access to health care, affordable housing, quality education, and food security with a focus on youths and young adults. The allocation is related to Northern Trust’s realized gain on its Visa, Inc. holdings—the result of a buy-back offer made by Visa earlier this year.

“By strengthening our foundation, we are setting the stage to bolster our philanthropic efforts worldwide,” said Northern Trust director of corporate philanthropy Shana Hayes.

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