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Let's build a better world together. We support communities by investing in initiatives, projects and programs that create greater opportunity for all.
We support our communities by investing in innovative nonprofits that align with our key areas of focus: building career pathways to economic mobility and strengthening small businesses.
We support needs that are sustainable and don’t commit funds to recurring expenditures. Examples include funding for a new program launch, a curriculum to expand or strengthen a program, equipment to deliver a program, and capital needs.
Capital campaign requests may be considered (1) if the purpose of the campaign aligns with the Foundation's priorities and (2) when the campaign is 60% complete in donations and pledges toward its fundraising goal, showing the campaign’s viability and community support.
We're not equipped to support:
Lynette Bell, president of Truist Foundation, defines our vision and grantmaking pillars—building career pathways to economic mobility and strengthening small businesses. Check out our February 9, 2022 webinar.
VICKI GODMER: Welcome, everyone, and thanks for joining today's presentation, "Truist Foundation Vision and Pillars: Our Purpose in Practice." All lines were muted when you joined us today. Please remain on mute for the duration of the presentation. You can submit questions today using the chat. This function is located at the right corner of your screen. Click on the Chat button dropdown, and select your host.
Throughout this session you can resize your presentation by landing between the presenter and the presentations. This meeting is being recorded. I'll now turn the meeting over to Lynette Bell. Welcome, Lynette.
LYNETTE BELL: Thank you, Vicki. Good afternoon, and welcome to the Truist Foundation's webinar that will define our vision and strategic pillars. My name is Lynette Bell, president of the Truist Foundation. We are so excited that you registered to join this first external webinar for Truist. Joining me today from the Foundation to present this exciting new direction for Truist is Jolie Maxwell, director of governance, and Meghan Pietrantonio, director of strategy and community relations.
The agenda for this hour is as follows. We will go through the Truist Foundation vision, the [? ship ?] and launch to where we are today, our new grantmaking pillars, which we're so excited to share. Building career pathways to economic mobility and strengthening small businesses will be dived into deeper, and then, of course, our giving guidelines.
As Vicki illustrated, please use the chat feature to ask questions. And at the end of the presentation today, we will address those questions if we have time. If not, you can always email us at firstname.lastname@example.org, and we will get to your questions at a later date. Next slide, please.
At the close of the merger between SunTrust and BB&T, our firm aligned to be a purpose-driven company, where we believed our mission would be to inspire and build better lives and communities. The Foundation, within 90 days of the merger closure, created a vision that aligns to that purpose, mission, and value of being inspirational, with the one differentiator that our philanthropic arm of the company would be around, how do we help communities, particularly underserved communities, strive to build economic mobility and wealth-building, especially for those that have been underserved or left out of the equation. There were significant occurrences on this journey that I will highlight so you have a clear picture of this timing.
In March of 2020, we began a strategic planning process with an internal steering committee. We collaborated with the consulting firm FSG and hosted numerous external advisor conversations with stakeholders to identify and build this new strategic platform. In July of 2020, due to all of the things that were happening in our world, the Truist Foundation Board of Directors committed to embedding racial equity in our grantmaking.
Our work on racial equity is central to everything that we do as a Foundation, and it's critical to our learning as a firm. We also launched two signature initiatives that are allowing us to find our niche where we can have distinctive impact, where our dollars will be catalytic, building partnerships that will drive impact and brand relevance in our communities. Next slide, please.
So as you can see, over the 18-month journey, we have a new strategy, one that is a differentiated one, holding enormous potential for impact and standing strongly in support of the mission of our brand. We want to make sure that we build economically strong communities where every individual has the financial stability to thrive.
We engaged our community in this process to ensure we are not making assumptions about what people need, but are developing a strategy that is guided by that informed decision of what those communities tell us they need. Data has to help drive that informed process for us.
Our strategy meets this moment head on, centering on racial equity and justice, and making sure those who are historically underserved-- which are women, which are also Black, Indigenous, people of color communities-- have the opportunity to thrive. Here's a short video that succinctly shows the reason for the shift and the impact we want to see at Truist.
- We all want better lives for ourselves, our families, and those in our communities. 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 not the case. Business owners typically earn 2 and 1/2 times 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.
LYNETTE BELL: So as we begin our focus-- next slide, please. So as you said, community-led solutions will be part of our focus. We've shifted and are excited about the new direction we're going into. We have two distinct pillars-- the first one, career pathways to economic mobility that will help individuals, particularly those who are underserved-- Black and Latinx-- get the reskilling and upskilling tools they need to build financial stability and security. The second pillar, strengthening small businesses, supports the revitalization of that entrepreneurial spirit, focusing on minorities, focusing on women businesses, and investing in those ecosystems to help build that level of security.
Now, let's dive deeper into our new focus. I'm going to turn the mic over to Meghan Pietrantonio, who will present our next segment. Meghan?
MEGHAN PIETRANTONIO: Thank you, Lynette. I'm Meghan Pietrantonio, director of strategy for the Truist Foundation. And as Lynette mentioned, we have been hard at work exploring how we will put our strategy into action and explaining why we are making this shift. So now I want to go into detail on our two grantmaking pillars, first increasing career pathways into middle-skilled careers. Next slide.
Our long-term goal here is to improve the economic mobility and wealth-building of underserved communities. We want to help job seekers gain access to career pipeline programs that will not only offer them upskilling opportunities, but also those wraparound and job placement supports that we know are so critical to their success. The goal is to help these job seekers enter into middle-skill careers, which would, as a result, improve their financial security and ease any mental burdens associated with living in poverty.
And at the same time, our approach really aims to strengthen the workforce ecosystem. We will facilitate coordination among key stakeholders to help make the transition from entering a career pipeline program to getting hired as seamless as possible for the job seeker. Next slide, please.
Next, who we will ultimately seek to impact-- our sub-strategies will hone in on a few communities. These include frontline workers, unemployed adults, and adults 18 and older who are not your typical four-year college graduate. And among these communities, we will prioritize those workers of color and women who typically face structural barriers to entering the workforce.
Now, in case you're wondering what we mean by frontline workers, for Truist Foundation, frontline workers are employees who work directly with customers and/or are directly involved in making a product or providing a service. So think about your cashiers, salespeople, housekeeping staff, et cetera. These employees are usually non-salaried and occupy roles that don't require advanced technical expertise.
Lastly, our grants will support efforts based across Truist's footprint, with a real emphasis on the Southeast region. And we're giving equal consideration to programs that are in urban centers as well as surrounding rural counties.
The Truist Foundation can only give grants to our nonprofit organizations in our communities, and we'll focus on organizations, programs, and initiatives that allow more individuals to access middle-skill jobs. For the Truist Foundation, middle-skill jobs are any jobs that require a high school diploma or a GED, but not a full bachelor's degree or four-year college degree. Next slide, please.
There are three main strategies to successful implementation, and each of these really builds on the other. And they're designed to improve outcomes for the individual, the community, and the system.
The first strategy is perhaps the most important, according to the practitioners. And through all the field interviews that Lynette was telling you about, this is what we heard most from those in the field. Part of what defines success for job seekers is having access to resource navigators or career coaches, people whose job it is to help find solutions to key challenges that inhibit career advancement.
Strategy 2 focuses primarily on the career pipeline programs themselves. So our grants may be able to support programs that are in existence and have capacity, and they need to fill in extra programmatic offerings to really provide the full wraparound support for successful activation of those programs. We also may provide support to help really fill in the need for collaboratives who are working together to advance the degrees and the career advancement of individuals.
The last strategy will support field building across regional workforce systems. And this strategy will focus on encouraging employers, so kind of the other end of this full ecosystem, to consider expanding their talent pools to include non-traditional job seekers, or possibly changing their cultural and social norms to ensure that the internal systems allow for career advancement for all. Next slide, please.
Now, we wanted to give you a couple of examples of nonprofit services that the Truist Foundation will support. The Foundation may support an organization that provides direct training and, most importantly, the job placement for our target audiences. Or a grant from the Truist Foundation may fill in gaps in a programmatic offering.
For instance, if an upskilling initiative already targets our communities of focus, but does not yet offer the wraparound support, our grant could help fill in this need. Or, for instance, if a single parent wants to participate in a career pipeline program but lacks the access to child support, a resource navigator supported by the Truist Foundation grant can help her find affordable options in her area to find public funds to help meet that financial cost. Next slide, please.
I think it's also important that we share with you what the grants could look like and what our grants would not support. The Truist Foundation grants could include wraparound services for low-wage workers to provide support for child care or for transportation to get to a job. It could also look like a reskilling or an upskilling program to really move the worker into a higher-paying job if they are a frontline worker and looking for career advancement.
A Truist Foundation grant could facilitate knowledge sharing and best practices among employers and other stakeholders in the career pathways ecosystem, really getting them into middle-skill jobs. And finally, a grant could look like support for a career pipeline program offering upskilling opportunities, wraparound, and job placement support.
Now, the Truist Foundation will not be supporting several things. Starting out, the Truist Foundation will not support programs that are focused on kindergarten through 12th grade students or anyone under the age of 18. Our funding is really filling this need and this gap. And while there are other funders who will support children and those who are still in high school, our grants are primarily focused on those who are 18 and older and are looking to advance their careers.
In addition, the Truist Foundation will not support programs for adults who are already in a stable, well-paying job with a four-year degree or another advanced degree. We won't support those leadership programs for individuals who have been through a traditional college track to advance in their career. In addition, the Foundation will not support scholarships, including need-based scholarships, and we won't support a standard higher education class or building at an undergraduate or postgraduate program. Next slide, please.
Now, the goal of our second pillar is to ensure that entrepreneurs are able to start and grow small businesses with equal access to resources, including capital, education, markets, and networks. Next slide. The small business pillar includes both a mix of strategies to address access barriers to these resources, and also to improve the overall functioning of the small businesses and entrepreneurial ecosystem through improved collaboration, coordination, and knowledge. Next slide, please.
The small business pillar aims to support small business owners and entrepreneurs that face structural barriers in systems that provide capital, education, and markets. And these segments include minority- and women-owned businesses. The Truist Foundation defines diversity in its most broad sense, representing a real range of human attributes and unique characteristics, including race, ethnicity, gender and gender identity, age, socioeconomic status, disability, sexual orientation and identification, religion, political beliefs, and national origin.
The Foundation's grantmaking will support businesses in both urban and rural areas through public and nonprofit entities that make up the small business ecosystem. These organizations include direct service entities that provide capital, education, and technical assistance to entrepreneurs and small business owners. And this also includes organizations that are enabling greater coordination and collaboration, advocacy, and innovation on the small business challenges and disparities that we have seen. Next slide.
The Foundation has identified three main buckets of opportunities for the pillar that really correspond to the major needs and gaps in the small business field. The first is access to capital. So our grantmaking will help close that credit gap by providing loan and grant capital to minority and women small business owners through alternative financial service providers that reach unbanked and underbanked markets, particularly CDFI, or Community Development Financial Institutions, which is a special designation from the US Treasury Department, as well as other micro-lending institutions.
The second bucket or strategy within this pillar is to really increase the technical support, education, and networks. So the Foundation really aims to help business owners gain the know-how to increase the success of their businesses and the effectiveness of their loan capital. This will be done through funding community-based nonprofit organizations, maybe a community college that has a business accelerator, those CDFIs, or other community development corporations that provide one-on-one business advisory services and technical assistance to support the entire lifecycle of a small business or a nonprofit.
And finally, the third strategy is really to strengthen the ecosystems that small businesses operate within by supporting playspace strengthening efforts, where we enable individual communities to build self-sustaining infrastructure and supports for their small businesses and their entrepreneurs, as well as efforts that really strengthen the larger small business and entrepreneurship sectors nationally. Next slide, please.
We wanted to provide, again, some examples of what we will fund. Our grants may support a business accelerator that is providing specialized technical assistance to entrepreneurs who are in need of specialized marketing support. Or a Truist Foundation grant may support a CDFI that operates in a rural area providing financial tools and coaching to underserved business owners. And finally, our grants may support cohorts of small business owners and nonprofits that serve small businesses through a cohort learning and mentoring model. Next slide, please.
So finally, what our grants could be and what won't be supported-- the Truist Foundation could support a local chamber of commerce for an initiative that provides business education, training, networks, and resource navigation. We could also support those local community development financial institutions to provide one-on-one technical assistance to small business owners.
The Foundation may provide a grant to a nonprofit organization or a college or university center that houses a business innovation center or an incubator. And the Foundation may support a local economic or community development corporation that is running an initiative or a program that provides business education, training, resource navigation to those small business owners and aspiring entrepreneurs.
Now, what our grants will not support-- we will not support a local chamber of commerce for operating support as a whole, and we will not support membership dues. The Foundation will not support initiatives that do not provide direct service to small business owners and those that are maybe not inclusive of all different types of entrepreneurs.
The Foundation will not support a local economic development agency or a community development corporation for general operating support. We're really looking for a special program or an initiative that fits with our pillars. And finally, the Foundation will not provide funding directly to small businesses. All of our grants must go to nonprofit organizations.
And now I'm going to pass the presentations to my colleague Jolie Maxwell, director of governance.
JOLIE MAXWELL: Thank you, Meghan. And thank you all for joining us this afternoon. I'm Jolie Maxwell. I serve as director of governance for the Truist Foundation. I am going to touch on some of our giving guidelines. I'm going to go over the ones that we get the most questions about or are most relevant when you're applying. But please go to our Foundation website to get a comprehensive list of these guidelines, and that's at truist.com/foundation.
Now, when we're looking at an application, the first thing we look for is what Meghan's just described to you. Is there pillar alignment? So does the request for the initiative or the program align with one of our pillars, building career pathways to economic mobility or strengthening small businesses? Once we determined that, yes, we do have alignment there, we look at the type of need that's being supported. What type of funding does the organization need to be successful?
We will support programming operations, so operating support for programs that align with the pillar or project support operations that align with the pillar. We'll also support capacity building and capital needs. We will consider support for seed funding to launch a program or a project that aligns with the pillars. We understand that sometimes it's hard to get that project off the ground, and we want to consider those requests.
Items we will not support-- we will not consider requests for general operating, recurring expenditures. We do not consider requests for annual grants, and I'll get a little bit more into this later in the presentation. We do not consider requests for scholarships or endowments, sponsorships, fundraising events, or documentaries or films. We also do not consider requests for anything that falls outside of our pillars.
Now, one thing I did want to point out that we pay attention to when looking at an application-- clearly, we look at all the questions we asked, and we take all that data into consideration. But we really ask ourselves, what is the sustainability beyond the Truist Foundation grant for that project or program? We never want an organization fully dependent on the Truist Foundation grant to make that program run.
So we look to see for a couple of factors. Are there other donors at the table? Are other people giving to this and support this program? Another thing that might happen is there might be an earned revenue component. Once the program is off, there's an earned revenue to keep it sustainable.
Or it might be that funding is needed to launch it, as I mentioned before, but then the expenses are less when it's in operation and can be absorbed into the organization's overall budget. So again, that's another thing to consider when you're determining if you're a fit with the Truist Foundation-- the sustainability of the project you're requesting funding for. Next slide, please.
The Truist Foundation will support capital campaigns. We have two criteria when we're considering a request to support a capital campaign. The first is what I've mentioned before. Is the purpose of the campaign aligned with one or more of our pillars? The second is we like to see the organization at 60% towards your fundraising goal before submitting the application to the Truist Foundation. And that can be in donations, cash, and pledges. We count pledges towards that 60%.
The reason is we like to see that what you would call your friends and family, your grassroots supporters, that they have given to the effort and they really want to see it succeed before we consider the request. That makes it such a stronger request for us to see that there's that grassroots support. So again, make sure you're at 60% towards your fundraising goal before you submit the application. Next slide, please.
OK. I mentioned earlier that we do not give annual grants. We do not give a grant in 2020 and then another grant in 2021 and another in 2022 to the same organization. We also do not give multiyear grants. When you receive a grant from the Truist Foundation, you receive all the funding at once.
In other words, if you receive a $15,000 grant from the Truist Foundation, the grantee will receive $15,000 in that year, versus giving you $5,000 a year for three years. We understand-- nonprofit organizations, you are the hardest-working group out there. And we want to help you, and we understand that you need the funding upfront. So again, you receive the funding all at once in one lump sum.
But we ask you to wait three years before you apply again. We call this our stewardship policy. To give you an example, if you receive a grant in 2022, we ask you to wait until 2025 before you apply again.
Now, this is based on the organization. So if an organization receives a grant, no matter what the project, they are then in our stewardship period, and we ask that organization to wait three years. They cannot receive a grant for project A in 2022 and then come back in 2023 for project B. So if that makes sense, three years, we ask you to wait because we do not make the multiyear grants.
Now, if you apply and you're declined, you can reapply as much as you want. Hopefully you'll be approved the next time. There's no stewardship period for people who are declined.
Finally, we have one exception to this rule, and that's our United Way partners out there. The Truist Foundation will consider a request for United Way annual campaigns every year. That is our one exception. So if the United Way annual campaign receives a grant in 2021, you guys are welcome to apply again in 2022.
I know this can be confusing. There's more information on our website, and you're always welcome to email us about this. But it is our stewardship policy. We've done it for many years. And it seems to really benefit both the nonprofits and the Foundation in making sure that you receive a grant that is large enough for you to accomplish something in the year that you want to accomplish it. And it can really be a strategic one with impact for you. Next slide, please.
All right, you've received a lot of information today on our pillars. Again, I'll say it again-- building career pathways to economic mobility and strengthening small businesses. We've just touched on our [INAUDIBLE] guidelines. I encourage you to go to our website to learn more guidelines. There's always a few more out there that I've not gone over.
If you believe you're a fit for the Truist Foundation, your organization and the project y'all have in hand, we encourage you to apply. We only accept applications that are submitted through our online application portal. You will find that at our Foundation website. You can see the address here on the slide. Go to the website, and you'll see Apply Online. Click there. It'll take you to-- it'll take you through some questions and then directly to the application.
We have three deadlines a year. The one that's upcoming is March 31. Applications that are submitted by March 31, you'll receive the decision at the end of June or early July. Our next deadline is July 31. Those will be reviewed in early fall, and you'll receive the decision at the end of October or early November. Our final deadline is November 30. Those are reviewed over the winter, and you'll receive the decision at, let's say, in late March or early April for those.
I've always liked that we have three deadlines. If you missed the first one, you don't have to wait a year to when you can apply again. So this also gives you an opportunity to determine, really, is this a good fit? Is this the right time to apply to the Truist Foundation?
So we hope you-- we're encouraging you to apply, and hope this has been helpful. I am now going to turn the presentation back over to Lynette Bell, President of Truist Foundation.
LYNETTE BELL: Thank you, Jolie. And I hope you have learned a lot today. One of the things that we know is important is that we wanted to provide out to the community at large because you were part of the process, as we hosted listening sessions during the merger around the country, talking to nonprofit organizations and community-based organizations about what those critical needs were.
And we believe that we have defined the right strategy for Truist Foundation. We know that there's a lot of work to be done in this area, and there are lots of nonprofits who have been working in these fields driving impact for a number of years. And we want to continue those partnerships.
And so I hope today that you got what you needed. If we get a chance and we missed your question, please email us at email@example.com. But with that, thank you for your time today. I'm going to open it up to questions. Vicki, I think you might have gotten some in chat.
VICKI GODMER: Yes, that's about the understatement of the year. So first of all, they would like to know if they can get the presentation and/or the video.
LYNETTE BELL: Great. Great question, I'll take that one. So our presentation will not be provided out and sent to you, but the recording of this, which is why we were recording live, will be at the Truist-- on our website. So please go to truist.com/foundation and be able to pull up this live recording. Thank you, Vicki.
VICKI GODMER: Thank you so much. Thank you so much, Lynette. What states are included in the Southeast region? And when you mean--
LYNETTE BELL: [INAUDIBLE].
VICKI GODMER: Southwest region of America, or southwest region of Tennessee, or the entire state of Tennessee?
LYNETTE BELL: Great question. So Truist Financial Corp., when you go to our website, we'll identify every state that we provide funding into. And so there are 18 states, so it's the entire Southeastern Seaboard, over to Texas, and then up to the mid-Atlantic region, then over into Ohio and Kentucky. So when you click on our website, you'll be able to identify the local regions. Meghan, do you want to add something to that?
MEGHAN PIETRANTONIO: Yes. In addition, we have a number of opportunities at the National level where Truist does business. And so if you are a national organization seeking funding, please do email us. As Lynette said, on occasion, our national programs-- or national nonprofits are a good fit for some of the program support that we're able to offer.
VICKI GODMER: [INAUDIBLE]-- well, thank you very much. I work for a nonprofit university with about 47% of our students receiving Pell grants. Would I still be considered for partnership?
LYNETTE BELL: Great question. Jolie, why don't you take that one?
JOLIE MAXWELL: Yes. Yes, you would still be considered for partnership, absolutely.
VICKI GODMER: Thank you very much. Does the Foundation offer support to organizations that are exclusively focused on BIPOC communities and women?
LYNETTE BELL: So that's a really good question. As we stated, we do have an all-inclusive diverse strategy at the Truist Foundation. But we are really leaning into those communities that have been historically underserved, which includes women and BIPOC communities. So yes, as long as if the program, the initiative, aligns to our new strategic pillars.
VICKI GODMER: Thank you very much. Will the market precedents be able to provide funding for nonprofits that do not fall within the Foundation's priorities?
LYNETTE BELL: Great question. I will pass that our director of governance, who probably has the best answer.
JOLIE MAXWELL: No, we-- we are-- all grants must align to one of the two pillars we've described here, thank you.
VICKI GODMER: Thank you very much. Will the Truist Foundation support organizations that offer direct child care, Head Start, or Early Head Start 501? And will that enable low-wage workers to gain or have advantage in employment, as mentioned in the wraparound service, by example?
LYNETTE BELL: Yeah, so I'll toss that back to Meghan, director of strategy. Meghan.
MEGHAN PIETRANTONIO: Thank you. Yes, we will provide support directly to those programs that are offering child care to individuals who are seeking to really advance in their careers. Yes.
VICKI GODMER: Thank you very much. Will the Foundation support capital to build out spaces for business center programs to happen?
LYNETTE BELL: So I think Jolie talked about capital campaigns. As long as you meet the two components of our guidelines around capital campaigns-- it is really important that we build this discipline. I love Jolie's comment about friends and family and grassroots have to be part of that process for those regional investments around capital campaigns. But yes, if you have met our guidelines on that, we definitely will consider it.
VICKI GODMER: Thank you very much, Lynette. Is the stewardship policy of waiting three years [? been ?] successful applications new?
LYNETTE BELL: Jolie, back to you.
JOLIE MAXWELL: Yes. Yes, it's been very, very successful. We believe that-- we've talked to many partners, and they prefer as-- again, if it's, let's say, a $15,000 grant, they preferred receiving that in year one versus $5,000 a year over years one, two, and three.
Also, while we're on the stewardship policy, I saw a question. If you received a grant in 2021 for a program, can you apply for capital in 2022. No, the stewardship policy is based on the organization, the grantee. So if an organization received a grant in 2021, no matter what the project, they need to wait till 2024 to apply again. And we have gotten great feedback about it. I know it's sort of a change in thinking for some people, but we've gotten very good feedback about it. Thanks.
VICKI GODMER: Thank you very much, Jolie. May an organization apply for more than one TF grant at one time? For example, is applying for a cohort learning program grant and also a capital grant.
LYNETTE BELL: That's a really good question. Meghan, you want to take that one?
MEGHAN PIETRANTONIO: Sure. The grant should be submitted as a single request. You may have the opportunity within the grant application to outline the specific budget for the request. And in that program budget area, you'll be able to outline what the total budget is and the ask for each amount. But your request should be for the total of both programs together. Please do not submit two separate applications from the single organization during the same grant cycle.
VICKI GODMER: Thank you very much. Can you share any information on the average typical fund raised for an award?
LYNETTE BELL: So we review grant request for applications, but consider based on the merit of the application based on the project or program being funded. We don't stipulate a minimum or a maximum amount. We also look at your budget. And so there are multiple factors that go into our assessment before we grant an award. But to give an idea of ranges, we've had grants as low as $5,000 up to $10 million.
VICKI GODMER: Thank you. Let's see. If an organization receives Truist funding grant funded based on the previous guidelines, does that organization still have to wait three years to reapply?
LYNETTE BELL: Jolie, back to stewardship.
JOLIE MAXWELL: It depends on how previous guidelines you met. So the stewardship policy has been in place since 2021. For a few of our regions, it's been in place since 2020. So I would suggest that you email our firstname.lastname@example.org mailbox, and we can check on where you are in that.
VICKI GODMER: Thank you very much. I believe I missed a comment about support of national nonprofits versus communities. Can you recall or re-mention that part?
LYNETTE BELL: Yeah. So Meghan is director of strategy, but I will say that we do a lot of partnerships with national organizations, nonprofits. We have two that are part of our signature initiatives that Meghan is leading, but I'll let Megan dive in a little deeper on that. Again, looking at national partners, because we are a large national bank with a regional, super-regional footprint, is what I would say. But we do look for national partners that clearly align to our pillars that will cover scalable opportunities across multiple states in our footprint. So Meghan?
MEGHAN PIETRANTONIO: That's right. If you are a national organization that's doing work across the Southeast, definitely send us an email. We can explain more. And I forgot to mention previously, we also-- as Lynette mentioned, with our national footprint in several lines of business here at Truist, we do have some work that we're doing in partnership with communities in California. And so there is some work being done in California in addition to the southeastern states that Lynette mentioned previously.
VICKI GODMER: Thank you. If we don't get to all these questions, will there be an opportunity for us to review the questions on the website?
LYNETTE BELL: So yeah, we are grateful for the overwhelming questions. And so what we'll do is pull them in, and we'll provide an FAQ to this particular training session. Since this is our very first webinar, we're learning as we go. But yeah, we'll definitely respond to those questions in this session.
VICKI GODMER: Thank you so much. Can you expand on the stewardship policy? If an organization receives a programmatic grant in 2021, may they apply for a capital grant in 2022, or do they have to wait until 2024?
LYNETTE BELL: Jolie, this is going to you.
JOLIE MAXWELL: [INAUDIBLE], go ahead and take it. You have to wait until 2024. Thank you for the question. I appreciate-- let's get it all straight. So thank you. It's based on the organization who received the grant, not the project that the grant went to.
VICKI GODMER: Thank you so much. It is encouraging to reach out to local Truist reps-- is it encouraged to reach out to the local Truist reps before submitting a request online? Does local involvement or investment strengthen the request?
LYNETTE BELL: The great news is that we do have local boots on the ground in the form of many of our partners inside of the bank. And so every market and regional president actually leads our local councils as they look at the applications that come in. Whether you're in Tennessee, whether you're in Maryland, those are looked at reviewed on a local level.
And so you can reach out to them. But for the most part, I would encourage you to use our website. And if you have any additional questions, please use our email box service, and we will try to address those questions.
VICKI GODMER: Thank you very much. How much are the grants usually for?
LYNETTE BELL: Yeah, so grants will be assessed based on the program, the budget that's allotted to the program, and organization. All of that is considered as part of the assessment that we do and based on [INAUDIBLE]. I think Jolie talked about when she was mentioning some of the capital campaigns, we'd like to see friends and family.
We don't want to be a sole supporter of any project or program or initiative. And so part of the review of your budget will also identify other supporters of that. So the size of grants range based on that. And so I can't definitively say, hey, without looking an application, we'll give 5,000 to a request. But our grants have ranged from $5K up to $10 million.
VICKI GODMER: Thank you so much. Could a grant request be partially funded, or will it be denied if the total cannot-- total financial request not be met?
LYNETTE BELL: Meghan, I think that's yours.
MEGHAN PIETRANTONIO: Yes. We will consider funding a partial amount of the request if the alignment is there and, as Lynette mentioned, based on the merit of the application. So yes, we will consider-- if you ask for a total amount that we cannot meet the full request amount, we may be able to provide a grant that's smaller in size and still approve based on the merit of the application and for that grant program.
VICKI GODMER: Thank you. We're going to put it back just for a minute on what areas are supported. Is Philadelphia eligible?
LYNETTE BELL: Yes, Philadelphia's eligible. Again, we should have had a map up, but it's the whole Eastern Seaboard. We are national. As Meghan stated, we have grants in California. So we're a national organization, a national foundation. But again we look at those opportunities that first align into the Truist footprint. And [INAUDIBLE] up the Eastern Seaboard, all the way over to Texas, up to Ohio, Kentucky, and down in California. So we're all over. All of that information will be on our website.
VICKI GODMER: Thank you so much. Do you support programs for college students if they are aligned to one of your pillars?
LYNETTE BELL: Meghan, you want to grab that one?
MEGHAN PIETRANTONIO: Yes, we will support college students who are in a technical school that is providing specific training to a middle-skill career. We will not provide scholarship support, whether that be merit or need scholarship, to a four-year college student or master's level or any higher-level degree.
VICKI GODMER: Thank you very much. How long after the grant period ends until the nonprofit is selected and receives the funding?
LYNETTE BELL: So we have clearly a lot of compliance-- and I'll turn it over to our director of governance. But we have a lot of compliance protocols as part of the process. So if you're awarded a grant, then we'll send back acknowledgments to you. There will be a grant agreement into-- between the legal paperwork and getting it back to you, it can range. But Jolie, I wanted you to give more specifics about that.
MEGHAN PIETRANTONIO: Jolie just had a quick audio-- you're back, Jolie.
JOLIE MAXWELL: I'm back. Yes. I think I heard most of it. But once you submit the grant application, it's about three months until you receive the email notification whether you were approved or declined. And then when that's said, it's another-- we have some forms that we like for you to fill out. We give you about 14 days to get that back to us. And you'll receive the payment within 10 days of that. So it's a relatively quick process. As soon as you get back to us, we'll get that payment out to you. Did I answer the question on this part of it? OK.
VICKI GODMER: OK, let me see. Is there a recommended ask amount or range that will be funded?
LYNETTE BELL: Meghan, why don't you take that one?
MEGHAN PIETRANTONIO: We do not recommend an amount that you request. Again, it's based on the need of the organization, need for the program. So each individual application is reviewed. I don't want anyone to think we're using AI to review these applications. We are really reading every single application that we receive and reviewing it based on the criteria that we're looking for, alignment with the pillars and the merit of the program.
VICKI GODMER: Thank you very much. If our program covers both focus points, how do we determine which focus point to apply for?
LYNETTE BELL: That's a really great question. I would say, based on the organization-- the mission of the organization is also put into consideration when we review these application requests. So where the alignment for you fit in versus you trying to fit in both of our verticals, that's what I would recommend you do. Wherever the strongest fit for you based on your overall mission, that's where you should send the request.
VICKI GODMER: Thank you. Dr. Keith D Lewis, Memphis, Tennessee, what are the reporting requirements throughout the grant period and afterwards?
LYNETTE BELL: Great question. Jolie?
JOLIE MAXWELL: Yes, great question, we appreciate that. For the majority of our grants, we ask you to submit a final report a year after you receive the grant. It is something that is an easy form that we will send you a link to about a month before it is due. You'll fill it out and just send it back to us. So we try to make it as easy as possible.
For grants that are of significant size, maybe over a million-- and these grants are few and far between-- we have a more rigorous reporting schedule. But for the majority, it's one report at the end of the-- one year past receiving it.
VICKI GODMER: Thank you. How do you monitor the grant awards?
LYNETTE BELL: So all grant requests are reviewed, as Meghan, said not by AI, but by the team. And then once you've been awarded, we continue to maintain contact. And as Jolie stated, you will give us an annual report. If during the course of-- when COVID happened and affected a lot of our grantees, a lot of them had to come back to do modifications to our agreements.
And so we keep in touch that way to make sure that you're staying in alignment to what the funding will support it. And so if you have to modify that agreement, then you definitely need to contact us so that we can look at and review those modifications, because that is a legal binding contract, that grant agreement that we have with you as the nonprofit.
VICKI GODMER: Thank you very much. OK this is very specific. Organization type question, which is the first question on the grant-- we are a nonprofit that supports a community college. How do we fit in? Is that something you can take, or would you like to respond to that offline?
LYNETTE BELL: I'm going to look at Jolie and Meghan. Do either one of you want to take that one?
JOLIE MAXWELL: I think-- OK, so I think there's a box there for Other, if I remember correctly. It's a brand-new application, so y'all are testing me. If you don't think that you fit one of the first boxes, please check Other. But please know that is not-- you are still in full consideration. That's just a way for us to kind of keep our database in the right categories. But if you check Other, that is not a mark against you. You're still at equal playing field, totally.
VICKI GODMER: Well, wow, thank you, everyone, for your questions. And as we said, we will be providing them to the team for them to take a look at. So back to you, Lynette, for any concluding comments.
LYNETTE BELL: Thank you so much, Vicki. Thank you, everyone, for your participation and your really great questions. This was our first time doing an external webinar as the newly formed Truist Foundation. We formed at the conclusion of the merger between SunTrust and BB&T in 2019. We did a hybrid of what both institutions had strategic investments in before.
But now we're on a new pathway, and we're excited about where we're headed. And know that we can drive and make it impact in different-- in communities, particularly as we support those who have been underserved historically. We know this is the right place for us. So thank you for your time, and please look for this live recording on our website. Have a great afternoon.
VICKI GODMER: Thank you, everyone, for joining. This concludes our presentation.
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