Cities for Financial Empowerment Fund Inc
Cities for Financial Empowerment Fund Inc is a public charity based in New York, NY. It works with mayors and local governments to improve household financial stability by embedding financial empowerment strategies in local government.
Key facts about Cities for Financial Empowerment Fund Inc
In short: Cities for Financial Empowerment Fund Inc gave $4.9M across 85 grants in 2025 (avg $58K), top state Tennessee. 29% of 2025 grantees were new. Source: 2025 IRS Form 990.
- EIN
- 46-3612187
- Latest 990 filing
- Form 990, 2025
- Annual giving (2025)
- $4,945,000
- Grants made (2025)
- 85
- Average grant
- $58,176
- Median grant
- $50,000
- New grantees (estimate)
- 29% first-time grantees (20 of 69, 2025)
- Total assets
- $27,129,516
- Primary geography
- Tennessee (8% of itemized 2025 grant dollars)
- How to apply
- Local governments interested in FEC Academy apply through the Fund’s online portal. Full details ↓
- Deadline
- FEC Academy applications are due October 6, 2026, at 11:59 p.m.
Data from IRS Form 990, 2025; updated October 2026. New grantees are estimated by matching recipient names across years (methodology). Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2025 IRS Form 990 · View filing
Total Assets
$27.1M
+14.7% YoY
Annual Giving
$4.9M
+8.8% YoY
Grant Count
85
-14.1% YoY
Avg Grant Size
$58K
+26.7% YoY
Is Cities for Financial Empowerment Fund Inc open to new grantees?
29%
first-time grantees, 2025
In 2025, 20 of 69 grantees (29%) were first-time recipients. First grants averaged $58K; repeat grants $77K. How we count
Medians: $23K first-time, $50K repeat.
- 39% of 2025 grantees were also funded in 2024. Method
- Giving held roughly steady from 2022 to 2025 (−19%). Method
Estimate from itemized grant lists in IRS Form 990 filings (2019–2025). Recipient names are matched across years, so a renamed or misspelled grantee can look new; grants to individuals are left out. Methodology.
Mission & Focus Areas
The Fund’s mission is to leverage municipal engagement to improve the financial stability of households by embedding financial empowerment strategies into local government infrastructure. Its programmatic, research, and policy work focuses on designing, embedding, and replicating financial empowerment initiatives within local government.
FECs provide free, professional, one-on-one financial counseling. Counselors can assist with budgeting, debt reduction, credit, banking access, savings, legacy planning, and referrals. The Fund also supports municipal planning through FEC Academy and programs such as CityStart and Financial Empowerment Cities. Its other stated work includes supporting Bank On coalitions, local emergency financial preparedness, consumer financial protection capacity, and financial education and banking access in youth employment programs.
The 2025 grants included funding for city and county governments to plan or launch local initiatives, as well as grants to nonprofit organizations and civic partners. For example, Equal Justice Works received a grant to facilitate a legal fellowship program providing legal assistance to FEC clients. The organization describes its mission as creating opportunities for lawyers to turn their commitment to equal justice into a lifelong commitment to public service. Rise Memphis Inc received a grant; its stated mission is to empower people toward self-sufficiency by building and sustaining human and financial assets.
Grantmaking
In filing year 2025, the Fund reported 85 grants totaling $4,945,000. Grant amounts ranged from $20,000 to $280,000, with a median grant of $50,000. Notable awards included $280,000 to Equal Justice Works for a legal fellowship program serving FEC clients; $200,000 to the City of Charleston, SC, and $185,000 to the City of Philadelphia to launch local FEC initiatives; and $100,000 each to the cities of Kansas City, MO, Little Rock, AR, Memphis, TN, Pueblo, CO, Savannah, GA, Springfield, MA, and St. Petersburg, FL, and to Jefferson County, WI, and Milwaukee County, WI, for local financial empowerment planning or initiatives.
The Fund’s funding page says FEC Academy is accepting applications. Selected local governments receive a $20,000 planning grant and technical assistance for up to 15 months. Partners that complete the planning process are eligible to apply for a two-year implementation grant of $250,000. The Fund also lists the Next Generation Municipal Financial Empowerment Award, a competitive RFP for new mayoral administrations and city leaders with emerging financial empowerment initiatives.
Review Cycle
FEC Academy applications are due October 6, 2026, at 11:59 p.m. ET.
How to Apply
Local governments interested in FEC Academy apply through the Fund’s online portal. The Next Generation award uses a competitive RFP process.
Open Grants
2 open opportunities from Cities for Financial Empowerment Fund Inc
Ready to take the next step with Cities for Financial Empowerment Fund Inc?
Geographic Focus
Where this funder awards grants
The Fund supports mayors and local leaders in cities and counties across the country. Its website reports work in more than 150 cities and a partner-city population of more than 67 million. In 2025, the largest shares of grant dollars by recipient state went to Tennessee and Wisconsin, at 8% each, followed by California at 7%, and Ohio and New York at 6% each.
Grant Distribution by State
Share of 2025 grant dollars across all 85 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $2.8M (2023) to $9.6M (2021). In 2025 it made 85 grants totaling $4.9M.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
The largest 2025 recipient was Equal Justice Works ($280K). Together the top 10 received $1.8M.
Grant Size Distribution
432 grants across all recorded years
The most common grant size was under $50K: 204 grants of 432 (47%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Equal Justice Works Washington, DC | Facilitate a legal fellowship program to provide legal assistance to fec clients | $280,000 |
| City of Charleston SC Charleston, SC | Launching a Local Financial Empowerment Center (FEC) Initiative | $200,000 |
| City of Philadelphia Philadelphia, PA | Launching a Local Financial Empowerment Center (FEC) Initiative | $185,000 |
| City of Kansas City MO Kansas City, MO | Convening stakeholders and creating a municipal financial empowerment blueprint | $100,000 |
| City of Little Rock AR Little Rock, AR | Supporting a full-time leader to plan a municipal office of financial empowerment | $100,000 |
| City of Memphis TN Memphis, TN | Convening stakeholders and creating a municipal financial empowerment blueprint | $100,000 |
| City of Pueblo CO Pueblo, CO | Launching a Local Financial Empowerment Center (FEC) Initiative | $100,000 |
| City of Savannah Savannah, GA | Convening stakeholders and creating a municipal financial empowerment blueprint | $100,000 |
| City of Springfield MA Springfield, MA | Convening stakeholders and creating a municipal financial empowerment blueprint | $100,000 |
| City of St Petersburg FL Petersburg, FL | Convening stakeholders and creating a municipal financial empowerment blueprint | $100,000 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Assets | Revenue | Expenses | Grants |
|---|---|---|---|---|
| 2025 | $27,129,516 | $17,266,819 | $14,321,298 | $4,945,000 |
| 2024 | $23,644,509 | $4,006,798 | $12,252,822 | $4,545,026 |
| 2023 | $27,222,487 | $7,628,594 | $10,398,984 | $2,800,000 |
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $27,129,516 | $23,644,509 | $27,222,487 |
| Revenue | $17,266,819 | $4,006,798 | $7,628,594 |
| Expenses | $14,321,298 | $12,252,822 | $10,398,984 |
| Net Investment Income | $892,341 | $663,658 | $420,253 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990 for fiscal year 2019 (received by the IRS April 23, 2020)
- Updated Form 990 for fiscal year 2021 (received by the IRS October 11, 2022)
- Updated Form 990 for fiscal year 2022 (received by the IRS May 10, 2023)
- Updated Form 990 for fiscal year 2023 (received by the IRS April 25, 2024)
- Updated Form 990 for fiscal year 2024 (received by the IRS May 8, 2025)
- Added Form 990 for fiscal year 2020 (received by the IRS May 13, 2021)
- Added Form 990 for fiscal year 2025 (received by the IRS May 11, 2026)
- IRS filings on file for fiscal years 2019–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2025 filing lists Jonathan Mintz as president and CEO; Karen Freeman-Wilson as board chair; Jose Cisneros as treasurer; and Cathleen Mahon as secretary. It also lists Naomi Gendler Camper, Latia Curry Harrison, Martin Gruenberg, and Leigh Phillips as board members; Amelia Erwitt as chief operating officer; and Lisa Nicolle Grist as chief research, evaluation and finance.
Cities for Financial Empowerment Fund Inc is led by Jonathan Mintz, President & CEO on every filing since 2019; 10 of 17 officers listed in 2025 are compensated.
Officers on the 2025 filing
Jonathan Mintz
President & CEO
On filings since 2019
40 hrs/week
$327K (2019) → $457K (2025)
Karen Freeman-Wilson
Board Chair
Board Member → Board Chair, 2024
On filings since 2021
1 hr/week
No compensation reported
Elisa Lopez
Senior Director
On filings since 2024
40 hrs/week
$104K (2024) → $113K (2025)
Amelia Erwitt
Chief Operating Officer
Managing Director → Chief Operating Officer, 2024
On filings since 2019
40 hrs/week
$188K (2019) → $264K (2025)
David Rothstein
Senior Principal
Principal → Senior Principal, 2021
On filings since 2019
40 hrs/week
$111K (2019) → $158K (2025)
Kaitlin Plat
Chief- Communications & Development
Senior Principal → Senior Director, 2024
Senior Director → Chief- Communications & Development, 2025
On filings since 2019
40 hrs/week
$110K (2019) → $169K (2025)
Lisa Nicolle Grist
Chief Research, Evaluation & Finance
Principal → Chief Research, Evaluation & Finance, 2021
On filings since 2019
40 hrs/week
$150K (2019) → $214K (2025)
Tamara Lindsay
Chief - Strategy
Principal → Chief of Strategy, 2021
Chief of Strategy → Chief - Strategy, 2024
On filings since 2019
40 hrs/week
$135K (2019) → $195K (2025)
Kant Desai
Senior Principal
On filings since 2024
40 hrs/week
$130K (2024) → $139K (2025)
Aaron Hirsh
Principal
New on the 2025 filing
40 hrs/week
$110K (2025)
Victoria Selkowe
Senior Principal
New on the 2025 filing
40 hrs/week
$143K (2025)
Cathleen Mahon
Secretary
On filings since 2019
1 hr/week
No compensation reported
Jose Cisneros
Treasurer
Board Member → Treasurer, 2025
On filings since 2019
1 hr/week
No compensation reported
Leigh Phillips
Board Member
On filings since 2019
1 hr/week
No compensation reported
Naomi Gendler Camper
Board Member
On filings since 2019
1 hr/week
No compensation reported
Latia Curry Harrison
Board Member
On filings since 2024
1 hr/week
No compensation reported
Martin Gruenberg
Board Member
New on the 2025 filing
1 hr/week
No compensation reported
Former officers (4)
- Former: Michael Dubin (2019–2024) — Treasurer
- Former: Fernanda Villasenor (2023–2024) — Senior Principal
- Former: I-Hsing Sun (2019–2023) — Chief Program Officer
- Former: Latia Curry (2021–2023) — Board Member
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Compensation Overview
From 2025 IRS filing
The highest reported compensation on the 2025 filing was $457K, to Jonathan Mintz (President and CEO). 10 officers or directors reported compensation on that filing.
Contact
Mailing address: 44 Wall Street - Suite 1050, New York, NY 10005-2443
Phone: (646) 362-1639
Website: https://cfefund.org
Frequently asked questions about Cities for Financial Empowerment Fund Inc
How much does Cities for Financial Empowerment Fund Inc give each year?
Cities for Financial Empowerment Fund Inc gave $4.9M across 85 grants in 2025, according to its 2025 IRS Form 990. In 2024 it gave $4.5M across 99 grants.
What is Cities for Financial Empowerment Fund Inc's typical grant size?
Cities for Financial Empowerment Fund Inc's median grant in 2025 was $50,000, and its average grant was $58,176, across 85 grants on its 2025 IRS Form 990. Organizations receiving their first grant from Cities for Financial Empowerment Fund Inc that year got $58K on average.
Where does Cities for Financial Empowerment Fund Inc give grants?
Cities for Financial Empowerment Fund Inc's top state is Tennessee, with 8% of the grant dollars itemized on its 2025 IRS Form 990. The next largest states were Wisconsin (8%) and California (7%). The most frequent recipient cities were Milwaukee, WI (4 grants), Sacramento, CA (3 grants), Memphis, TN (3 grants) and Akron, OH (3 grants).
Does Cities for Financial Empowerment Fund Inc give general operating support?
Not in 2025: none of the 85 grants with a stated purpose on Cities for Financial Empowerment Fund Inc's 2025 IRS Form 990 were described as general or operating support. Recurring purposes include "Incorporating Legacy Planning into the FEC Model" (29 grants).
Who are Cities for Financial Empowerment Fund Inc's largest grantees?
Cities for Financial Empowerment Fund Inc's largest 2025 grantees include Equal Justice Works ($280,000), City of Sacramento ($210,000 across 3 grants) and City of Charleston SC ($200,000), according to its 2025 IRS Form 990. Together they received 14% of its itemized 2025 grant dollars.
How large is Cities for Financial Empowerment Fund Inc?
Cities for Financial Empowerment Fund Inc reported $27.1M in total assets on its 2025 IRS Form 990. Its revenue that year was $17.3M.
What does Cities for Financial Empowerment Fund Inc fund?
The Fund’s mission is to leverage municipal engagement to improve the financial stability of households by embedding financial empowerment strategies into local government infrastructure. See mission & focus areas ↑
How do I apply for a grant from Cities for Financial Empowerment Fund Inc?
Local governments interested in FEC Academy apply through the Fund’s online portal. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Cities for Financial Empowerment Fund Inc's EIN?
Cities for Financial Empowerment Fund Inc's EIN (Employer Identification Number) is 46-3612187. IRS Form 990 filing data is available on this page for 2019–2025.
Data last updated October 2026. Sourced from IRS Form 990 filings. Research dossier generated October 2026.
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