Established in 1915 in IL by bank resolution and declaration of trust - The Chicago Community Trust is the nation's second oldest community foundation. The foundation is administered by a thirteen-member executive committee which is responsible for all grant allocations. Two members of the committee are appointed by each of the following: the Chief Judge of the U.S. District Court, Northern District of Illinois; the Presiding Judge of the Probate Division of the Circuit Court of Cook County; one member is appointed by each of the following: the Mayor of the City of Chicago; the President of Northwestern University; the President of the University of Chicago; and the lay chairman of the United Way/Crusade of Mercy. The five remaining members of the committee are appointed by the trustees committee. The trustees of the trust are nine Chicago banks and trust companies and are responsible for the management and investment of the trust's funds. The trustees committee, which consists of officers of all the trustee banks, appoints five of the members of the executive committee and has certain approval powers over actions of the executive committee. The trust's staff is responsible to the executive committee for the daily operation of the trust