Citi Foundation Grants a Collective $5 Million to Five Greater Washington, D.C. Nonprofits Working Locally to Increase Economic Opportunity in Latest Expansion of the Community Progress Makers Initiative
14 Mayo 2024 - 11:30AM
Business Wire
Each of the five organizations is set to receive $1 million in
unrestricted funding over three years as well as access to a
learning community and network of Community Progress Makers across
the country
The Citi Foundation (“the Foundation”) today announced that five
nonprofits based in the greater Washington, D.C. area have been
selected as part of the fourth cohort of the Community Progress
Makers initiative.
First launched in 2015, Community Progress Makers provides
unrestricted funding to visionary organizations that work locally
to connect low-income communities to greater economic opportunity.
With this latest cohort, the Foundation has now committed $115
million in grants to Community Progress Makers since its
inception.
The current cohort of Community Progress Makers has been
selected through an open request for proposals (RFP) process
announced this past fall, which focused on organizations working in
the areas of affordable housing and access, economic development,
financial health and workforce readiness.
"Unrestricted grant support is in high demand and low supply and
we have witnessed how transformational this type of funding can be
for community organizations,” said Brandee McHale, President of
the Citi Foundation and Head of Citi Community Investing &
Development. “This is why we are pleased to support the
innovative solutions and deep community work that the organizations
in this fourth cohort of Community Progress Makers are leading in
the greater Washington, D.C. area through flexible, trust-based
funding.”
“At Citi, we aim to have a positive impact in the communities
where we live and work,” said Jason Fedash, Head of North
America Emerging Corporates for Citi Commercial Bank. “Through
its Community Progress Makers initiative, the Citi Foundation is
making a philanthropic investment in the greater Washington, D.C.
area and inspiring organizations that are committed to improving
the lives of underserved communities on the local level through
their efforts in economic development, financial health and
affordable housing and access.”
All recipients will have access to a learning community where
they can collaborate and share best practices with a network of
Community Progress Makers across the country, as well as receive
technical assistance delivered by national experts and leading
researchers. Combining their local expertise and track record of
community impact with a national network of resources and
changemakers, these nonprofits are poised to accelerate their
community-based work in the greater Washington, D.C. area.
“We know that when we work together across the public, private
and philanthropic sectors, we can bring about real and lasting
change,” said Washington, D.C. Mayor Muriel Bowser. “We
thank the Citi Foundation’s Community Progress Makers initiative
for supporting these incredible organizations and their efforts to
make positive economic impacts throughout D.C. and our region.”
These are the community organizations selected to the fourth
cohort of Community Progress Makers in the greater Washington, D.C.
area.
- 1863 Ventures
- Capital Area Asset Builders
- Community Lodgings
- HomeFree-USA
- Montgomery Housing Partnership
“The impact of becoming a Citi Foundation Community Progress
Maker reaches beyond the grant itself,” said Milan Griffin, EVP
& Chief Operations Officer, HomeFree-USA. “As a part of
this national cohort of visionary organizations, we look forward to
putting the resources gained and lessons learned to expand
affordable homeownership in the greater Washington, D.C.
region.”
For more information, please visit citifoundation.com/cpm and
follow the impact these organizations are making at #ProgressMakers
on social media.
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Andrew Talbot, Citi Foundation Communications
| andrew.talbot@citi.com