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Community Finance Initiative
Advancing the financial resilience of low-income households across the U.S.
This model enables us to engage and support a broad range of organizations across the globe to tackle some of the most pressing social issues of our time.
The Citi Foundation’s 2026 Community Finance Initiative commits $35 million to support programming that bolsters the financial stability, strength and safety of low-income households in the U.S.
Focus Areas
The Foundation seeks to support organizations advancing low-income household financial resilience in the United States across three focus areas:
Stabilize: Programs that help low-income households to build financial skills and confidence to manage daily finances and navigate financial stress.
Strengthen: Programs that help low-income households build and repair credit, as well as short- and long-term financial assets.
Safeguard: Programs that protect low-income household financial security by preventing and addressing financial losses.
Funding Opportunity
The Foundation plans to award 70 $500,000 (USD) grants (to be disbursed over two years) totaling $35 million to community organizations working in select communities where Citi has a presence.
The grants will be restricted and are anticipated to be disbursed in two annual payments in 2026 and 2027. Proposed projects should be for a term of 24 months, starting no sooner than August 1, 2026 and ending no later than December 31, 2028.
Community Foundation of the Fox River Valley
The Community Foundation of the Fox River Valley is a collection of individual funds and resources given by local citizens to enhance and support the quality of life in the Fox River Valley of Illinois.
We are a tax-exempt public charity that allows individuals, businesses, and non-profit organizations to establish permanent endowments and temporary funds within the confines of one large foundation.
Foundation funds are used to provide grants to non-profit organizations and scholarships to area students. The Foundation also hosts a Youth Engagement in Philanthropy (YEP) program, which helps high school students learn more about philanthropy and empowers them to make a difference in the community.
The Community Foundation of the Fox River Valley serves the City of Aurora, Kane County, and Kendall County within the State of Illinois.
Scholarship Program
Scholarships are available to local students who will attend an accredited post-secondary institution within the United States of America on a full-time basis.
Albert W. Medernach Scholarship Endowment Fund
This fund, which was created upon the receipt of a bequest from the estate of Albert William Medernach, provides scholarships to students residing within the Community Foundation service area.
Albert Medernach (1941-2012) was born in Aurora, Illinois to John and Loretta Medernach. His father worked at the National Brush Company and his mother was a homemaker. They were blessed with twelve children.
Their son Albert attended St. Nicholas Catholic Grade School and was a graduate of Marmion Academy.
He served in the United States Army from 1964 to 1966 and was employed by Caterpillar Tractor Company for thirty years.
After retirement, he volunteered for Hesed House and St. Rita of Cascia Church, where he became affectionately known as “Mr. St. Rita.”
Mr. Medernach was a master gardener who looked forward to the springtime when he was able to resume the design of his flowerbeds and other plantings.
His devotion to family was of great importance to him as demonstrated by the special care he provided to his mother prior to her passing. He was a kind and thoughtful man who brightened the lives of others.
Albert Medernach will be remembered for generations to come for his generous provision for the educational futures of local students.
Community Foundation of the Fox River Valley
The Community Foundation of the Fox River Valley is a collection of individual funds and resources given by local citizens to enhance and support the quality of life in the Fox River Valley of Illinois.
We are a tax-exempt public charity that allows individuals, businesses, and non-profit organizations to establish permanent endowments and temporary funds within the confines of one large foundation.
Foundation funds are used to provide grants to non-profit organizations and scholarships to area students. The Foundation also hosts a Youth Engagement in Philanthropy (YEP) program, which helps high school students learn more about philanthropy and empowers them to make a difference in the community.
The Community Foundation of the Fox River Valley serves the City of Aurora, Kane County, and Kendall County within the State of Illinois.
Scholarship Program
Scholarships are available to local students who will attend an accredited post-secondary institution within the United States of America on a full-time basis.
Michael David McGrath Scholarship Endowment Fund
The Michael David McGrath Scholarship Endowment Fund was established to honor the memory and celebrate the life of Michael David McGrath (1977-2003).
The fund, which was created in 2006, became an endowment in 2013.
Michael was a graduate of Downers Grove North High School and made his living repairing and refurbishing computers. He was an intelligent and inquisitive young man of unlimited potential.
As an encouragement to future generations, this scholarship is intended for students who possess both the ability and desire to increase their knowledge in a chosen field of study.
This scholarship also is designed to provide opportunities for students with limited financial resources to enhance their skills and affirm their self-worth.
Michael was a multi-talented young man who frequently benefited from the kindness of others. This scholarship is offered to recognize and perpetuate those qualities.
Ignite Fund
The Ignite Fund offers six $10,000 grants for Chicago-area artists and artist-led collectives to produce and present bold new projects rooted in the visual arts. We prioritize public-facing work that embraces accessibility, fosters community impact and/or participation, and responds to the issues shaping our social climate. In this spirit, The Ignite Fund shines a light on the vibrancy, creativity, and resilience of the Chicago arts ecosystem.
Community Foundation of the Fox River Valley
The Community Foundation of the Fox River Valley is a collection of individual funds and resources given by local citizens to enhance and support the quality of life in the Fox River Valley of Illinois.
We are a tax-exempt public charity that allows individuals, businesses, and non-profit organizations to establish permanent endowments and temporary funds within the confines of one large foundation.
Foundation funds are used to provide grants to non-profit organizations and scholarships to area students. The Foundation also hosts a Youth Engagement in Philanthropy (YEP) program, which helps high school students learn more about philanthropy and empowers them to make a difference in the community.
The Community Foundation of the Fox River Valley serves the City of Aurora, Kane County, and Kendall County within the State of Illinois.
Scholarship Program
Scholarships are available to local students who will attend an accredited post-secondary institution within the United States of America on a full-time basis.
Dan and Tracey Stellato Family Scholarship Endowment Fund
Scholarships from this fund are available to residents of the Foundation’s service area.
BEI Holdings is a multi-generational real estate, property management and development firm established in 1959 by the Dempsey Family. BEI Holdings has always remained steadfast in their devotion to communities in the Fox Valley.
Dan and Tracey Stellato have always placed a high level of importance on education for their three sons, Nicholas, Michael and Marc Anthony. The proud parents have watched their sons achieve much success after the boys earned their college diplomas.
The Stellato family would like to help others who look to chart their future with higher education and this scholarship, funded by BEI Holdings, and administered through the Community Foundation, feels like a great way to achieve this important goal.
Community Foundation of the Fox River Valley
The Community Foundation of the Fox River Valley is a collection of individual funds and resources given by local citizens to enhance and support the quality of life in the Fox River Valley of Illinois.
We are a tax-exempt public charity that allows individuals, businesses, and non-profit organizations to establish permanent endowments and temporary funds within the confines of one large foundation.
Foundation funds are used to provide grants to non-profit organizations and scholarships to area students. The Foundation also hosts a Youth Engagement in Philanthropy (YEP) program, which helps high school students learn more about philanthropy and empowers them to make a difference in the community.
The Community Foundation of the Fox River Valley serves the City of Aurora, Kane County, and Kendall County within the State of Illinois.
Scholarship Program
Scholarships are available to local students who will attend an accredited post-secondary institution within the United States of America on a full-time basis.
Margaret Mercer Stewart Scholarship Endowment Fund
This fund was created by Margaret Mercer Stewart to support the education of nursing students.
Mrs. Stewart (1912-2005) was born in Aurora, Illinois. She graduated from West Aurora High School and attended North Central College.
She was drawn to nursing, graduated from the Evanston Illinois Hospital School of Nursing in 1934 and then served as a school nurse in Evanston.
In 1935, she married Thomas Graeme Stewart, a descendent of the pioneer Stewart farming family of Tamarack (now Plainfield) Illinois.
The couple resided on and farmed the ancestral land from 1937 until Mr. Stewart’s death in 1970.
Since that time, Mrs. Stewart continued to live on the farmstead and rented the land for agricultural purposes.
She was able to achieve her wish of living on the farm until her death due in part to the care provided by her home health care aides.
Mrs. Stewart was an artist, skilled in several media including pastels, oils and watercolors. She won numerous awards at both local and state levels.
Community Foundation of the Fox River Valley
The Community Foundation of the Fox River Valley is a public charitable foundation based in Aurora, Illinois, dedicated to improving quality of life across the Fox River Valley, including the Greater Aurora area and Kane and Kendall counties. The Foundation partners with donors to fulfill philanthropic goals by managing charitable funds and distributing grants and scholarships that address local needs in areas such as education, health and human services, arts and culture, and community development, while ensuring responsible stewardship of resources to create lasting community impact.
Dr. J. William & Arline Hoban Family Fund
he Dr. J. William and Arline Hoban Family Fund was established to assist local students who are furthering their education at a college, university, vocational, or trade school. Dr. Hoban (1920-2003) received his master’s degree from the University of Detroit and his doctorate from Wayne State University. He and his wife Arline moved to Aurora in 1968, at which time he became Dean of the Evening School and Summer School at the newly organized Waubonsee Community College. He retired from the college in 1989. Arline Hoban (1925-2022) was a graduate of the University of Detroit. She was an educator at West Aurora High School and later began a career at MetLife. Mrs. Hoban retired in 1990. She was a member of Holy Angels Church and the American Association of University Women. Dr. and Mrs. Hoban had six children. The scholarship fund created by the Hoban Family reflects their dedication to higher education.
Community Foundation of the Fox River Valley
The Community Foundation of the Fox River Valley is a public charitable foundation based in Aurora, Illinois, dedicated to improving quality of life across the Fox River Valley, including the Greater Aurora area and Kane and Kendall counties. The Foundation partners with donors to fulfill philanthropic goals by managing charitable funds and distributing grants and scholarships that address local needs in areas such as education, health and human services, arts and culture, and community development, while ensuring responsible stewardship of resources to create lasting community impact.
Constance K. & Allen J. Kent Scholarship Endowment Fund
The Constance K. & Allen J. Kent Scholarship Endowment Fund was established to provide scholarships for students graduating from public or private high schools within the boundaries of Aurora School District 129 or 131 and also Marmion Academy. Constance Kent, a native Auroran, graduated from Madonna High School and received a bachelor of arts degree from DePaul University in Chicago. She enjoyed a career in marketing and journalism. She also held an Illinois Real Estate License. Mrs. Kent has served on the boards of area organizations including Family Counseling Service, American Association of University Women and YWCA Aurora. In addition, she has been a volunteer at the Dominican Literacy Center. Allen Kent, a native of Jefferson, South Dakota, is a graduate of the College of Pharmacy at South Dakota State University. He was on the pharmacy staff of Provena Mercy Center for many years and retired as director of pharmacy. Mr. Kent also holds a master of science degree in business from Aurora University. He has served on many professional boards, including the Pharmacy Practitioner Panel of The United States Pharmacopeia. He also has volunteered for several community boards including Kiwanis Club of Aurora, Dominican Literacy Center, Provena Fox Knoll, Aurora Public Arts Commission and the Prestbury Citizens Association.
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Common — grants in this category appear regularly across funding sources.
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Most grants are due in the first quarter.