Waterton announced the start of a pilot program at Presidential Towers that will allow residents of the property to add a charitable donation to rent payments through its online resident portal.
The firm will match the first $5,000 in resident contributions, with all proceeds benefitting Chicago-based Cara, a non-profit that provides job training and placement services to individuals affected by homelessness and poverty.
The building, which leads as the largest rental community in Chicago with a total of 2,346 apartments, could raise up to $3,500 a month if every resident donated $1, or up to $42,000 annually, according to Waterton Co-founder and CEO, David Schwartz. This would be enough to get approximately 100 students through Cara’s foundation training.
Presidential Towers residents who log into the online portal to pay rent will now see a drop-down menu with elective donation amounts starting at $1. The Cara logo is prominently displayed along with a link to the organization’s website and description for those unfamiliar with the non-profit’s history, mission and broader impact on the community.
Waterton has been an active supporter of the organization for more than six years, assisting with mock interviews and other professional development activities designed to prepare students for full-time employment. Waterton employees have also spoken on panels and participated in Cara’s morning “Motivations” sessions.