The Leadership Council was founded in 1966 as a result of the campaign for open housing led by Dr. Martin Luther King, Jr., Al Raby, and other members of the Chicago Freedom Movement. At the close of that summer, a summit meeting of government, religious, business, civic, real estate and civil rights leaders recognized that, "housing segregation is the cause of segregated schools; the deterioration of many neighborhoods has been caused by rapid racial transition; and minority unemployment is directly related to the imbalance between suburban job locations and suburban housing opportunities for minorities". The summit organizers established the Leadership Council as the community's instrument for affecting this reform. The Board of Directors continues to represent the fair housing leadership of those groups, which founded the Leadership Council. The Leadership Council is a non-profit organization [under IRS Section 501(c)(3)] and has an operating budget of $1.2 million, supported by contributions from corporations and individuals in the Chicago area, foundation grants, and contracts for specific services from agencies of government.