Advisory Concerning the Chicago Community Catalyst Fund
Summary
As part of its proactive program and policy work, OIG identified concerns relating to the effective administration of the Chicago Community Catalyst Fund (“Catalyst Fund”). According to the Fund’s structure, the City Treasurer is the ex officio Chair of the Catalyst Fund’s Board of Directors.
Executive Summary
In July 2026, OIG advised the Treasurer of these concerns and offered an opportunity for clarification or correction by the Board.
In response to OIG’s advisory, the Fund, through its counsel, replied largely agreeing with OIG’s suggestions. The response detailed corrective actions, including retroactive filing of the missing required annual reports. The response also stated that the Treasurer will seek to dissolve the Catalyst Fund.
Correction
In OIG’s Advisory Concerning the Chicago Community Catalyst Fund, published on August 13, 2026, Figure 4 reflected a range of Overall Rates of Return from 1.5% to 3.5%. The paragraph has been edited to reflect that same range.
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