Citizens Philanthropic Foundation Inc
Citizens Philanthropic Foundation Inc is a private foundation established in 2006 and based in Short Hills, New Jersey. The foundation is the corporate foundation of Citizens Financial Group and operates as a 501(c)(3) organization dedicated to philanthropic giving and community support.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$18.7M
+10.4% YoY
Annual Giving
$3.1M
+39.7% YoY
Grant Count
127
-51.0% YoY
Avg Grant Size
$24K
+184.8% YoY
Under IRS private-foundation payout rules, Citizens Philanthropic Foundation Inc reported a distributable amount of $897K for 2024 — the minimum it must pay out in qualifying distributions.
Mission & Focus Areas
The foundation supports initiatives centered on community development and financial empowerment. Primary funding focuses include:
- Education
- Philanthropy, Voluntarism & Grantmaking
- Human Services
- Financial Literacy and Financial Empowerment
- Housing Security
- Workforce Development and Youth Employment Training
- Community Development
The foundation emphasizes programs that demonstrate measurable impact and foster collaboration with Citizens colleagues, with particular attention to serving low- and moderate-income individuals and diverse populations.
Grantmaking
Organizations seeking funding must submit a preliminary application through the foundation's online portal. Eligible applicants must be IRS-qualified 501(c)(3) organizations.
Grant Range
$1,000
Average Grant
amount: $3,000
How to Apply
**
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Geographic Focus
Where this funder awards grants
The foundation primarily funds initiatives in:
- New Jersey
- New York
- Massachusetts
Grant Distribution by State
Cities
Financial History
Multi-year comparison from IRS filings
As of 2024:
- Total Assets: $18,684,342
- Total Revenue: $1,017,270
- Total Expenses: $3,190,388
- Total Giving: $3,108,750
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $18,684,342 | $16,928,371 | $19,655,882 |
| Revenue | $1,017,270 | $1,089,973 | $19,491,329 |
| Expenses | $3,190,388 | $2,384,982 | $763,938 |
| Qualifying Distributions | $3,135,559 | $2,234,060 | $752,942 |
| Net Investment Income | $1,968,674 | $2,811,702 | $738,389 |
| Distributable Amount | $897,382 | $790,147 | $850,603 |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
250 grants across all recorded years
Open Grants
2 open opportunities from Citizens Philanthropic Foundation Inc
Giving History
Grant recipients and amounts by year
Among its reported 2024 grants, the largest include Local Initiatives Support Corporation ($300,000), Queens Economic Development Corporation ($300,000), Urban League of Essex County ($100,000).
| Recipient | Purpose | Amount |
|---|---|---|
| MINORITIES ALLIED LENDERS INC PENNSAUKEN, NJ | MINA LEADERSHIP ACADEMY | $2,500 |
| LIFE'S WORC INC GARDEN CITY, NY | WORC FORCE CENTER - FOOD SERVICE TRAINING PROGRAM | $5,000 |
| THOMAS EDISON STATE UNIVERSITY FOUNDATION INC TRENTON, NJ | STRENGTHENING COMMUNITIES THROUGH EDUCATION AND WORKFORCE DEVELOPMENT | $10,000 |
| LOCAL INITIATIVES SUPPORT CORPORATION NEW YORK, NY | CBEDCS BROOKLYN YOUTH TRAINING PROGRAM FOR OFFSHORE WIND JOBS | $300,000 |
| BOYS TO LEADERS FOUNDATION EAST ORANGE, NJ | EMERGING LEADERS PROGRAM | $500 |
| FIGHTING CHILDREN'S CANCER FOUNDATION INC FAIRFIELD, NJ | FAMILY ASSISTANCE RELIEF PROGRAM | $500 |
| THE MARTY LYONS FOUNDATION INC BAY SHORE, NY | WISH PARTNER | $500 |
| NEW JERSEY MAKERS DAY A NJ NON-PROFIT CORPORATION PISCATAWAY, NJ | NEW JERSEY MAKERS DAY | $500 |
| COMMUNITY HOPE INC PARSIPPANY, NJ | AFFORDABLE HOUSING FOR VETERANS | $500 |
| EVERGREEN INC YOUR NORTH BROOKLYN BUSINESS EXCHANGE BROOKLYN, NY | GENERAL OPERATING SUPPORT | $500 |
Leadership & Key People
Leadership team and compensation from IRS filings
- Barbara Cottam – President
- Michelle Hecht – President
- Keri Santos – Vice President/Director of Corporate Giving
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| MICHELLE HECHT | PRESIDENT | 0.38 | — |
| KERI SANTOS | VICE PRESIDENT/DIR. OF CORP GIVING | 1.9 | — |
| CHRIS GRENIER | SECRETARY | 1.71 | — |
| DAN ASTOLFI | TREASURER | 0.25 | — |
| REZA AGHAMIRZADEH | MEMBER | 0.21 | — |
| NUNO DOS SANTOS | MEMBER | 0.15 | — |
| SUSAN LAMONICA | MEMBER | 0.21 | — |
| DOMENICK CAMA | MEMBER | 0.21 | — |
| KEVIN CUMMINGS | MEMBER | 0.21 | — |
| REBECCA O'CONNELL | MEMBER | 0.21 | — |
Recent News & Activity
Recent developments and announcements
The foundation announced $2.4 million in financial empowerment grants to support 137 nonprofits, and $420,000 in financial empowerment grants to nonprofits in Massachusetts, demonstrating ongoing commitment to financial literacy and community economic development initiatives.
Citizens Announces $2.4M in Financial Empowerment Grants to Support 137\Subject Areas
Focus areas based on grantmaking activity
Frequently Asked Questions
What does Citizens Philanthropic Foundation Inc fund?
The foundation supports initiatives centered on community development and financial empowerment. Primary funding focuses include: • **Education** • **Philanthropy, Voluntarism & Grantmaking** • **Human Services** • **Financial Literacy and Financial Empowerment** • **Housing Security** • **Workforce Development and Youth Employment Training** • **Community Development** The foundation emphasizes programs that demonstrate measurable impact and foster collaboration with Citizens colleagues, with …
How do I apply for a grant from Citizens Philanthropic Foundation Inc?
**Grant Characteristics:** • Typical award range: $250,000–$500,000 • Average grant amount: $3,000 • Median grant size: $1,000 • The foundation made 246 grants in 2024 **Recent Grant Examples:** • Year Up: $500,000 (2025 National Partnership + Adult Workforce Talent in New York and New Jersey) • Queens Economic Development Corporation: $300,000 (Supporting Queens Night Market Small Businesses & Vendors) • Local Initiatives Support Corporation: $300,000 (CBEDCs Brooklyn Youth Training Program fo…
Where does Citizens Philanthropic Foundation Inc make grants?
The foundation primarily funds initiatives in: • New Jersey • New York • Massachusetts
What size grants does Citizens Philanthropic Foundation Inc award?
In 2024, Citizens Philanthropic Foundation Inc awarded 127 grants totaling $3.1M — an average of about $24K per grant, based on its IRS Form 990 filings.
How much is Citizens Philanthropic Foundation Inc required to give away each year?
Private foundations must generally distribute about 5% of their assets annually. For 2024, Citizens Philanthropic Foundation Inc reported a distributable amount of $897K on its IRS Form 990-PF — the minimum it must pay out in qualifying distributions.
What is Citizens Philanthropic Foundation Inc's EIN?
Citizens Philanthropic Foundation Inc's EIN (Employer Identification Number) is 56-2582815. IRS Form 990 filing data is available on this page for 2020–2024.
Explore Open Grants
Browse active grant opportunities in Citizens Philanthropic Foundation Inc's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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