For Immediate Release
    Citigroup Inc. (NYSE: C)
    May 18, 2016

    Citi Foundation's Community Progress Makers Fund Awards $20 Million in Grants to Accelerate Economic Opportunity in Six U.S. Cities

    40 nonprofit organizations will use funds to address urban challenges ranging from affordable housing to environmental sustainability and infrastructure

    New York – The Citi Foundation announced today that 40 nonprofit organizations have been selected as inaugural recipients of the Community Progress Makers Fund, a $20 million grant initiative to support visionary nonprofit organizations in their efforts to establish new approaches to long-standing urban economic challenges in the United States – including economic development, environment sustainability, urban infrastructure and affordable housing.

    The Community Progress Makers Fund supports community organizations that are leading urban transformation efforts that create economic opportunities for low-income households and communities. The 40 organizations work in six U.S. cities – Chicago, Los Angeles, Miami, New York City, San Francisco Bay Area and Washington, D.C. Each organization will receive $500,000 in core operating support, will have access to technical assistance from leading national researchers and experts and will have opportunities to connect with other grantees to share and learn best practices.

    "There is no substitute for partners that are deeply-rooted in the communities we support, who can use their local knowledge and networks to help us enable progress," said Brandee McHale, President of the Citi Foundation. "These organizations were selected because they combine fresh ideas and approaches with a first-hand understanding of their communities' challenges and resources. We think that is the key to getting things done."

    "We are thrilled to join leading organizations across the country as the first group of Community Progress Makers, all committed to breaking down barriers and building up opportunity in our cities," said Colvin Grannum, President and Chief Executive Officer of Bedford Stuyvesant Restoration Corporation in New York City. "This core operating support from the Citi Foundation signals a deep level of trust in us and the other grantees, and allows us the flexibility to implement new solutions that amount to real change for low-income people."

    "By enabling non-profit organizations to deepen their capacity, public-private partnerships advance vital economic opportunities for low-income households and further our competitive success," said David Wilkinson, Director of the White House Office of Social Innovation and Civic Participation. "We welcome efforts to enact effective social solutions that promote the upward economic mobility for families and communities across the United States."

    "Community based organizations are a critical component of healthy communities across the U.S.," said David Erickson, Director of Community Development at the Federal Reserve Bank of San Francisco. "Efforts, like the Citi Foundation's Community Progress Makers Fund, that invest in these organizations' ability to promote cross-sector innovation and integration are an important step forward in creating neighborhoods that are springboards to opportunity."

    "Cities are places of powerful idea generation and vast opportunity, while simultaneously dealing with the realities of growing inequality and other urban challenges," said Jennifer Bradley, Director of the Center for Urban Innovation at the Aspen Institute. "The Citi Foundation's Community Progress Makers Fund provides nonprofits at the forefront of addressing these issues with the support they need to inclusively transform communities and help all residents realize their greatest potential."

    The Community Progress Makers Fund builds upon the Citi Foundation's commitment to identify and support innovative solutions and organizations that are helping build stronger, more resilient cities that are engines of economic opportunity for all. The flexibility of core operating support will allow organizations and their visionary leaders to deploy solutions that address a range of issues.

    See complete release with full list of Community Progress Makers.

    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 cities. The Citi Foundation's "More than Philanthropy" approach leverages 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.