Cboe Global Markets + Chicago Community Trust Empower Students

Donor-advised funds (DAFs), communities and nonprofits can come together in collaborations that produce real impact—and that’s what Cboe Global Markets, The Chicago Community Trust and Scholarship America have done with the Cboe Empowers Scholars Program.

Cboe Empowers is a community engagement program dedicated to developing lifelong learners from as early as fifth grade to college and beyond through mentorship, internships, scholarship support and unique career exposure opportunities. The renewable, full-ride Cboe Empowers scholarship, which has been awarded to 32 students in its four years of operation, is an integral part of this mission in the communities Cboe calls home.

Funded by the Cboe Empowers Fund at The Chicago Community Trust, and administered by Scholarship America, the nation’s largest designer and manager of scholarship and educational assistance programs, the Cboe Empowers scholarship provides ten full-ride scholarships each year to under-resourced students from neighborhoods on Chicago’s South or West sides, from Kansas City, MO & KS, and from New York City (Brooklyn, Manhattan, The Bronx Queens, or Staten Island).

This scholarship collaboration aims to provide a seamless scholarship experience while increasing access, equity, and long-term opportunity for under-resourced students. It combines Scholarship America’s expertise with Cboe’s commitment to mentorship, enrichment, and shaping future leaders across industries.

In addition to their scholarships, Cboe Empowers Scholars also receive a laptop and comprehensive, year-round support from mentors and Cboe Empowers staff. Students are free to attend any U.S.-based college or university, choose any major, and take part in networking events and summer enrichment opportunities—ensuring that they’re supported on whatever educational path will take them toward their dream career.

“We’ve learned financial support is only part of the equation—what truly makes the difference is consistent, personalized engagement,” says Cboe’s Kelli Haywood. “Scholars thrive when they feel seen, supported and connected year-round. We do this through mentorship, networking events and enrichment experiences that meet students where they are.”

Of course, an impactful, tailored program like this doesn’t just happen. That’s why Cboe partners with The Chicago Community Trust, one of the nation’s leading community foundations; and with Scholarship America, who brings more than 60 years of expertise in scholarship administration to the partnership. By working together, the organizations ensure sustainable, DAF-based funding; an IRS-compliant program; and a seamless experience for scholars.

“The Chicago Community Trust is honored to be the Trustee of the Cboe Empowers Fund and help provide scholarships to students across the country” says Molly Rand, Senior Director, Philanthropy at The Chicago Community Trust. “For more than 100 years, the Trust has helped cultivate philanthropic support to address pressing needs. Working with organizations such as Cboe helps us build a stronger community and puts opportunity in reach for more individuals.”

Haywood adds, “Our partnership allows Scholarship America and CCT to efficiently manage scholarship logistics while Cboe focuses on building meaningful relationships with our scholars and their families.”

Meet the latest Cboe Empowers Scholars here, and click below to talk to Scholarship America about how your DAF or foundation can work with us!