Deadline: 05-Nov-2024
The Citi Foundation has launched the Community Finance Innovation Fund to support financial inclusion and financial health solutions in the U.S.
The Citi Foundation is committing an additional $25 million to support a new cohort of nonprofit community finance innovators working to advance financial inclusion and financial health in low-income communities across the U.S.
Priorities
- Organizations should be able to demonstrate that their project idea offers an innovative solution in one of the following three categories:
- Human Capital and Talent Development, such as efforts to advance the talent pipeline and career advancement possibilities within the fields of financial health and community finance.
- Products and Services, such as the development of new products or services, or intentional efforts to extend the delivery of financial services, products and practices to low-income communities to advance financial health.
- Technology and Operational Efficiencies, such as efforts to improve CDFI performance and impact through the use of technology, data collection and impact analysis and operational advancements to promote greater financial inclusion and/or financial health.
Eligibility Criteria
- Organizations must be tax-exempt public charities as per Section 501(c)(3) of the Internal Revenue Code. Please note that projects that require the use of fiscal sponsorship are not eligible for this funding opportunity.
- Organizations must be able to submit externally audited financial statements. If your organization’s idea advances to the application stage, you will be required to submit audited financial statements covering some part of calendar year 2023 or a subsequent year.
- Organizations must be able to demonstrate that their mission and strategic priorities have a specific focus on serving low-income communities.
Ineligibility Criteria
- The types of organizations and projects that will not be considered for funding include, but are not limited to:
- Private foundations, including operating and nonoperating foundations
- Organizations that discriminate on the basis of race, sex, gender identity or expression, color, religion, national origin, age, disability, sexual orientation, veteran’s status or other legally protected personal characteristic or status
- Individuals
- Lobbying, political causes, campaigns, or candidates
- Memorials
- Gift matching
- Organizations that require the use of a fiscal sponsor
For more information, visit Citi Foundation.