Truist Foundation

Building better lives

Truist’s purpose is to inspire and build better lives and communities. By partnering directly with nonprofit organizations that support wealth building for historically excluded communities, we’re helping them innovate and make a meaningful difference in the lives of those they serve.

Transcript

We all want better lives for ourselves our families, and those in our community.

But the path to get there is longer and more challenging for those who are historically excluded.

We believe everyone should have access to the tools and resources that help build generational wealth like a well-paying career or the ability to start a business.

Unfortunately that’s the not the case.

Business owners typically earn 2.5x more than non-business owners, regardless of race.

But despite the fact that Black and Latina women start businesses at the fastest rate of any group in this country, they continue to face disproportionate barriers to accessing capital, finding mentors and growing their businesses.

Black workers are five times more likely to be unemployed even compared to white workers with the same education level.

In addition, Latinx workers face higher unemployment rates and lower pay.

But there is an ecosystem of organizations working to level the playing field.

Truist Foundation will intentionally distribute resources into this ecosystem.

Catalyzing nonprofit organizations doing the hard work developing solutions and opening doors.

Together, we’re strengthening small businesses and building career pathways to economic mobility through community-led solutions that build better lives and communities.

What we believe—and aim to do

All people and communities should have an equal opportunity to thrive.

Through our two key focus areas, building career pathways to economic mobility and strengthening small businesses, we aim to help level the playing field.

We’re investing in pioneering ways to strengthen organizations with transformative ideas and proven solutions to addressing the roots of inequity. In all that we do, we aim to create sustainable wealth-building opportunities for historically excluded people.

Our 2021 impact report

Stories that inspire

Building career pathways to economic mobility

We’re investing in organizations, programs, and initiatives that help systemically disadvantaged workers navigate the employment journey. Our emphasis is on organizations that are closest to the most impacted communities.

Our goals:

Enable and equip frontline workers¹ and unemployed adults, specifically women and Black, indigenous, and people-of-color, with the tools and resources they need to move into middle-skill² jobs that provide economic mobility and more pathways for people to thrive.

Our focus areas:

Helping workers navigate employment resources
Building capacity of reskilling and upskilling programs
Strengthening access to high quality employment and worker protections
Improving coordination and sharing knowledge within the workforce system
Advocating for employer practice change

Strengthening small businesses

We’re opening more doors for racially and ethnically diverse and women-owned small businesses and entrepreneurs by investing in the network of solutions and organizations that support them.

Our goals:

Strengthen the supports that allow minority and women-owned small businesses to become more financially sustainable and resilient by eliminating structural barriers to growth, and improving knowledge sharing, collaboration and innovation within the small business ecosystem.

Our focus areas:

Increasing access to capital
Increasing access to technical assistance support and educational programs for entrepreneurs
Building small business networks and mentorship programs to enable more knowledge sharing
Researching and developing new products, technologies, and service innovations for small business
Increasing equity and inclusion in private and public practices and policies that impact small businesses

Lynette Bell
Truist Foundation President

Who we are

“The Truist Foundation is deeply committed to serving communities differently and with humanity and grace. Through the Truist Foundation, we provide grants in support of nonprofit organizations to help grow their impact through innovative, best-in-class solutions. We believe that we succeed when we give our communities the opportunity to do the same.”

– Lynette Bell, Truist Foundation President

A letter from Lynette (PDF)