The Citi Foundation has announced a $50 million RFI to support the next level of growth for Community Development Financial Institutions (CDFIs) to catalyze and expand their work in building assets and wealth for low-income and diverse communities.
Donor Name: Citi Foundation
States: Selected States
County: All Counties
Type of Grant: Grant
Deadline (mm/dd/yyyy): 05/24/2022
Size of the Grant: $50 million
Details:
Through this national RFI, the Foundation aims to solicit breakthrough innovations to advance the field of community development finance in four key areas: human capital and talent development; financial and risk-sharing models; technology and operational efficiencies; and thought leadership and research.
Priorities
- Citi Foundation seeks to support a wide range of innovative approaches for advancing the field of community development finance for the benefit of CDFIs in the following categories:
- Human Capital and Talent Development
- Financial and Risk Sharing Models
- Technology and Operational Efficiencies
- Thought Leadership and Research
- Priority will be given to ideas that seek to address an identified and measurable gap in the field of community development finance that directly affects CDFIs.
- Priority will be given to organizations that demonstrate a strong commitment to Diversity, Equity, and Inclusion, and intentionality to apply a racial equity lens to the field of community development finance.
- In addition to ideas that have the ability and/or intent to achieve regional or national scale, the Foundation has a strong interest in ideas that impact low- and moderate-income and underserved communities within Citi Foundation’s strategic U.S. markets: California, Connecticut, Florida, Illinois, Maryland, New Jersey, New York, South Dakota, Virginia, and Washington DC.
Eligibility Criteria
- Applicant organizations or their fiscal sponsors must be tax-exempt public charities as per Section 501(c)3 of the Internal Revenue Code.
- Applicant organizations or their fiscal sponsors must be able to submit at least one year of audited financial statements covering all or part of the fiscal year 2020.
- Applicant organizations must be able to demonstrate a successful track record of advancing the field of community development finance specifically in conjunction with CDFIs.
- Applicant organizations must be able to demonstrate that their idea has the ability and/or intent to achieve regional or national scale, impacting low- and moderate-income and underserved communities.
For more information, visit Request for Ideas.
