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
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
No grants recorded for .
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
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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