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Citi Foundation Announces Recipients of Community Progress Makers Initiative in the United States
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The Citi Foundation has announced $25 million in unrestricted grants for 50 nonprofit organizations through its Community Progress Makers initiative. Each selected organization will receive $500,000 to promote social and economic opportunity in underserved communities across six U.S. cities: Chicago, Los Angeles, Miami, New York City, San Francisco Bay Area, and Washington, D.C. This funding aims to address income inequality and enhance community support.
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Citi Foundation is providing $25 million in grants to 50 nonprofits, enhancing their capability to serve low-income communities.
Each organization will receive $500,000 in unrestricted grants, allowing flexibility in funding use.
In the past, the foundation invested $40 million, significantly impacting affordable housing and job training.
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50 Nonprofits to Collectively Receive $25 Million in Unrestricted Grants to Advance Social and Economic Opportunity for Underserved Communities
NEW YORK--(BUSINESS WIRE)--
The Citi Foundation today announced the 50 nonprofit organizations selected as the newest recipients of the Community Progress Makers initiative. The $25 million grant initiative supports visionary organizations that are working to connect low-income communities and communities of color to greater social and economic opportunity in six cities across the United States: Chicago, Los Angeles, Miami, New York City, San Francisco Bay Area and Washington, D.C. Each Community Progress Maker will receive an unrestricted grant of $500,000 and access to technical assistance and a supportive learning community from 2022 – 2023.
“Six years ago, the Citi Foundation launched Community Progress Makers with a vision of empowering community leaders to grow their transformative impact through unrestricted, trust-based funding,” said Brandee McHale, Head of Community Investing and Development and President of the Citi Foundation. “This kind of approach and support is more important than ever as the U.S. continues to address the root causes and impacts of income and wealth inequality. Through the Community Progress Makers initiative, these social innovators and advocates can continue to look for new ways of addressing long-standing societal challenges at scale.”
The Community Progress Makers initiative was expanded earlier this year as part of Citi and the Citi Foundation’s Action for Racial Equity, which has already invested$1 billion in strategic initiatives to help close the racial wealth gap in the United States.
Through the Citi Foundation’s funding, the 50 Community Progress Makers will support low-income communities and communities of color by working to expand affordable housing and access; environmental sustainability; economic development; financial health and wellness; workforce readiness and high-quality jobs. The Foundation will provide a supportive community network through which these organizations can connect to learn from each other, share best practices and strengthen their roles as social change agents. As part of the initiative, the Citi Foundation is engaging longtime grantee Urban Institute to provide technical assistance to the cohort, helping to measure their impact and track their progress.
“We’re looking forward to our continued work with the Citi Foundation and the newest cohort of Community Progress Makers that are striving to facilitate positive change in communities across the country,” said Sarah Rosen Wartell, President of the Urban Institute. “This collaboration has proved to be a powerful tool for many community organizations, and supporting a diverse group of grantees with technical assistance and data-building capacities will have a real impact in building stronger and more inclusive communities.”
According to a recent report from Citi Global Perspectives & Solutions, there is a growing need for multi-year, unrestricted funding, which empowers nonprofits to invest in the financial sustainability of their organization and gives them the flexibility to adapt to evolving challenges. This kind of philanthropic support is even more urgent as local communities continue to face complex challenges posed by the COVID-19 pandemic. From 2015 to 2019, the Citi Foundation has provided $40 million in multi-year, unrestricted funding to 72 Community Progress Makers, helping to place over 45,000 people in affordable housing, train over 33,000 people for employment, save over $10 million in energy costs, and expand over 12,000 small businesses.
“This flexible support from the Citi Foundation is transformative for our organization, and illustrates a trust and confidence in our leadership and vision as we advocate for equitable greenspace in South Williamsburg,” said Marco A. Carrión, Executive Director of El Puente. “El Puente is honored to be part of this new phase of Community Progress Makers and to work alongside other leading community organizations that share in our mission to increase access and opportunity for underserved populations.”
“Chinatown Community Development Center is thrilled to join the Community Progress Makers network and collaborate with other community leaders across the U.S. to promote social and economic opportunities for communities of color,” said Malcolm Yeung, Executive Director of Chinatown Community Development Center. “Citi Foundation’s trust-based philanthropy is game-changing. It gives us the freedom and resources we need to pursue our vision for our local community.”
The newest cohort of Community Progress Makers was selected through a competitive Request for Proposals (RFP) process announced earlier this year. Organizations were selected based on their strong track records of promoting economic opportunity in the communities they serve.
Citi Foundation is a part of Global Public Affairs’ Community Investing and Development team, which aims to enhance positive social impact and financial innovations that benefit underserved communities globally. Through equity investing, lending and grant making, Citi and the Citi Foundation are working in new ways to effect positive and meaningful change in communities around the world.
To learn more about the 50 organizations selected as Community Progress Makers, please visit www.citifoundation.com/cpm.
Citi Foundation
The Citi Foundation works to promote economic progress and improve the lives of people in low-income communities around the world. We invest in efforts that increase financial inclusion, catalyze job opportunities for youth, and reimagine approaches to building economically vibrant communities. The Citi Foundation's "More than Philanthropy" approach deploys the enormous expertise of Citi and its people to fulfill our mission and drive thought leadership and innovation. For more information, visit www.citifoundation.com.
