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The Prudential Foundation

Annual Giving
$50.0M
Grant Range
$3K - $1.0M
Success Rate
16.5%

Quick Stats

  • Annual Giving: $50 million
  • Success Rate: Not publicly disclosed
  • Decision Time: Varies by program; invitation-only for major grants
  • Grant Range: $2,500 - $1,000,000
  • Geographic Focus: Areas of company operations, with strong emphasis on Newark, NJ and major U.S. cities

Contact Details

Website: www.prudential.com/foundation Email: community.resources@prudential.com Phone: 973-802-4791 Address: 751 Broad St., 15th Fl., Newark, NJ 07102-3777

Community Grants Program: Administered through Community Foundation of New Jersey (973-267-5533 or info@cfnj.org)

Overview

The Prudential Foundation was established by Prudential Financial to advance its commitment to making communities stronger and more vibrant. The foundation surpassed $1 billion in total lifetime contributions in 2021, representing decades of strategic philanthropy. With approximately $50 million in annual grantmaking (2023: $43.3 million across 141 awards), the foundation takes a strategic, partnership-based approach to advancing financial security and economic mobility for underserved populations. The foundation's average grant size is approximately $75,000, though grants to organizations with ongoing partnerships can reach up to $1 million. Under the leadership of President Shané Harris, Vice President of Social Responsibility and Partnerships, the foundation focuses on closing the financial divide by creating inclusive workplaces and communities, and accelerating economic mobility for all. Prudential takes a three-pronged approach to systemic problems: creating thriving neighborhoods, investing in innovative ways to accelerate economic opportunity, and designing pathways to fully inclusive workplaces. In Newark, its headquarters city, Prudential has committed over $1.2 billion in the last decade alone.

Funding Priorities

Grant Programs

Major Strategic Grants: $75,000 - $1,000,000 (by invitation only)

  • Multi-year partnerships with national and global organizations
  • Focus on systemic change and large-scale impact
  • Application by invitation only; prospective grantees should establish connections with local Prudential operations

Prudential Community Grants Program: $2,500 - $10,000 (open application for Newark residents/organizations)

  • Individuals: Up to $2,500
  • 501(c)(3) organizations or those with fiscal sponsors: Up to $5,000
  • Ward intermediary organizations: $10,000 for program support and technical assistance
  • $500,000 total annual funding
  • Administered through Community Foundation of New Jersey
  • Open to Newark, NJ residents and organizations only
  • Annual application cycle

Employee Volunteer Grants: Up to $5,000

  • For organizations where Prudential employees volunteer at least 40 hours per year
  • Supports employee engagement in the community

Employee Matching Gifts: $25 - $5,000

  • Two-for-one match for contributions $25-$100
  • One-for-one match for contributions $100-$5,000 per employee per year

Priority Areas

Work and Economic Opportunity (largest grantmaking area)

  • Workforce development and job training programs
  • Career pathways for quality employment
  • Support for opportunity youth (ages 16-24 not employed or in school)
  • Small business development and entrepreneurship

Financial Inclusion and Security

  • Expanding access to affordable banking services
  • Financial education and capability building
  • Asset building programs
  • Homeownership access for first-generation and low-to-moderate income buyers ($3.3 million commitment in 2024)

Meeting Basic Needs

  • Housing and shelter
  • Food security and nutrition services
  • Energy assistance

Community Development and Transformation

  • Neighborhood beautification and stabilization
  • Community-based infrastructure
  • Urban inclusive growth initiatives
  • Arts and civic infrastructure

Education

  • Education reform initiatives
  • Elementary and secondary education
  • Youth development programs
  • Arts education

What They Don't Fund

  • Individuals (except through Community Grants Program for Newark residents)
  • Discriminatory organizations
  • Religious, fraternal, labor, or athletic organizations
  • Veterans' organizations
  • Advertising or fundraising events
  • Disease-specific general operating support
  • Capital campaigns (generally)
  • Annual fund drives
  • Endowments (generally)

Governance and Leadership

Shané Harris serves as President of The Prudential Foundation and Vice President of Social Responsibility and Partnerships at Prudential Financial. In this role, she leads the company's philanthropic strategy and oversees the distribution of over $62 million in grants and charitable contributions annually. She also manages Prudential's skills-based volunteering and multicultural partnership programs. Harris's leadership emphasizes providing economic opportunity, particularly for those who have faced barriers to creating that opportunity.

The Prudential Foundation operates as a corporate foundation of Prudential Financial, Inc., with its board of directors comprising senior Prudential executives. Lata N. Reddy has previously served as Senior Vice President of Diversity, Inclusion & Impact at Prudential Financial and Chair and President of The Prudential Foundation, reflecting the organization's commitment to equity and inclusion at the highest levels.

Application Process & Timeline

How to Apply

For Major Strategic Grants (invitation-only): The Prudential Foundation does not accept unsolicited proposals for major strategic grants. Instead, the foundation operates on an invitation-only basis and maintains ongoing relationships with partner organizations. Prospective grantees should:

  1. Establish connections with management at local Prudential operations
  2. Engage with Prudential's corporate social responsibility team
  3. Demonstrate alignment with the foundation's strategic priorities
  4. Build relationships over time before seeking funding

Contact: community.resources@prudential.com or (973) 802-4791

For Prudential Community Grants Program (Newark, NJ only):

  1. Applications are accepted annually through the Community Foundation of New Jersey
  2. Open to Newark residents (individuals) and organizations
  3. Applications can be submitted online through the Community Foundation of New Jersey portal
  4. Program information available at cfnj.org/prudential or by calling 973-267-5533

Decision Timeline

Decision timelines vary significantly by program type:

  • Community Grants Program: Annual cycle with applications typically reviewed within a few months
  • Major Strategic Grants: Timelines vary based on partnership discussions; can range from several months to over a year for major multi-year commitments
  • Volunteer and Matching Gifts: Processed on rolling basis

Success Rates

The Prudential Community Grants Program is highly competitive:

  • 2024: 400 applications received, 66 projects funded (16.5% success rate)
  • 78% increase in applications from 2023 to 2024, reflecting growing interest

For major strategic grants, success rates are not publicly disclosed due to the invitation-only nature of the program. The foundation made 141 total grants in 2023.

Reapplication Policy

Community Grants Program: Organizations and individuals may reapply in subsequent years. Previous recipients are eligible to apply again, though the program seeks to support a broad range of community projects.

Major Strategic Grants: Given the invitation-only nature and focus on multi-year partnerships, reapplication policies are determined on a case-by-case basis as part of ongoing relationship management.

Application Success Factors

For Community Grants Program:

  • Focus on neighborhood impact: Projects should demonstrate clear benefits to Newark neighborhoods and residents
  • Community vitality: The program seeks projects that "create vibrancy" and foster community stability
  • Accessibility and equity: Emphasize how your project increases resident access to opportunity and enhances quality of life
  • Ward-specific impact: Consider how your project serves specific needs within Newark's five wards
  • Clear, achievable goals: With microgrant amounts, projects should be appropriately scoped for $2,500-$5,000

For Major Strategic Grants:

  • Systemic approach: The foundation values work that addresses root causes and creates systemic change, not just provides services
  • Partnership mindset: Prudential emphasizes "long-term partnerships that strengthen communities, help tackle social challenges and solve complex problems"
  • Alignment with economic mobility: Demonstrate how your work closes the financial divide and accelerates economic mobility
  • Measurable impact: Show clear outcomes related to financial inclusion, workforce development, or community transformation
  • Scale and reach: Larger grants go to organizations working at significant scale, often with national or global reach
  • Innovation: The foundation invests in "innovative ways to accelerate economic opportunity"

Language and Terminology: The foundation consistently uses specific terminology that successful applicants should incorporate:

  • "Financial security for all"
  • "Closing the financial divide"
  • "Accelerating economic mobility"
  • "Inclusive workplaces and communities"
  • "Systemic change"
  • "Long-term partnerships"
  • "Quality jobs" (not just employment)
  • "Thriving neighborhoods"

Recent Funded Projects (2024):

  • Homeownership initiatives for first-generation and low-to-moderate income buyers
  • Newark community-based projects including Alpha Alpha Lambda Community Development, Feeding Futures Foundation, Maroon Theatre Project, Next Chapter Gems, ZAM Learning Academy
  • Youth employment programs through partners like YouthBuild
  • Financial education programs supporting Latino Americans through UnidosUS
  • Workforce development initiatives through National Fund for Workforce Solutions

Relationship Building:

  • Attend Prudential-sponsored events and conferences related to financial inclusion and economic mobility
  • Connect with Prudential's local operations in areas where you work
  • Demonstrate existing impact and capacity before approaching for funding
  • Consider smaller engagements (employee volunteering, matching gifts) as relationship-building strategies
  • Join networks and coalitions that include other Prudential grantees

Key Takeaways for Grant Writers

  • Invitation-only for major grants: Most significant funding requires an established relationship with Prudential. Start building connections with local Prudential operations before seeking large grants; cold proposals are not accepted.

  • Newark advantage: Organizations and individuals based in Newark, NJ have direct access to funding through the annual Community Grants Program, which provides microgrants of $2,500-$5,000 without requiring prior relationships.

  • Economic mobility is central: Every application should clearly articulate how your work advances financial security, economic mobility, or workforce development. This is the foundation's core mission and filters all funding decisions.

  • Think systemically: Prudential funds organizations working on systemic change, not just service delivery. Emphasize how your work addresses root causes and creates lasting change in financial systems, labor markets, or community economic development.

  • Multi-year partnerships preferred: For major grants, the foundation seeks long-term partners (often 3-5 years) rather than one-time projects. Demonstrate organizational capacity for sustained partnership and impact.

  • Show measurement and outcomes: Prudential operates with a business mindset and expects clear metrics, evaluation plans, and demonstrated impact. Be prepared with data about your effectiveness and scalability.

  • Align with corporate locations: While not required, organizations in areas of significant Prudential operations (Phoenix, Los Angeles, Hartford, Jacksonville, Dubuque, Chicago, Minneapolis, Newark, New York, Philadelphia, Scranton, Dallas, Houston) may have advantages in building relationships and accessing funding.

References

  1. Prudential Financial Corporate Giving. (2024). Retrieved from https://www.prudential.com/links/about/corporate-social-responsibility/corporate-giving

  2. "The Prudential Foundation commits $3.3 million toward homeownership solutions." Prudential Financial News. (2024, September). Retrieved from https://news.prudential.com/latest-news/feature-stories/feature-stories-details/2024/The-Prudential-Foundation-commits-3.3-million-toward-homeownership-solutions/default.aspx

  3. "Apply now for the 2025 Prudential Community Grants Program." Prudential Financial News. (2025). Retrieved from https://news.prudential.com/latest-news/prudential-news/prudential-news-details/2025/Apply-now-for-the-2025-Prudential-Community-Grants-Program/default.aspx

  4. "Meet the recipients of the 2024 Prudential Community Grants Program." Prudential Financial News. (2024, May). Retrieved from https://news.prudential.com/latest-news/feature-stories/feature-stories-details/2024/Meet-the-recipients-of-the-2024-Prudential-Community-Grants-Program/default.aspx

  5. "Prudential Foundation's giving surpasses $1 billion mark." Prudential Financial News. (2021). Retrieved from https://news.prudential.com/prudential-foundations-giving-surpasses-1-billion-mark.htm

  6. "Prudential Community Grants Program." Community Foundation of New Jersey. Retrieved from https://cfnj.org/prudential/

  7. The Prudential Foundation. Foundation Directory. Candid. Retrieved from https://fconline.foundationcenter.org/fdo-grantmaker-profile/?key=PRUD001

  8. "Prudential Foundation and Corporate Giving." Inside Philanthropy. Retrieved from https://www.insidephilanthropy.com/find-a-grant/grants-p/prudential-foundation-and-corporate-giving

  9. Prudential Foundation Inc. Nonprofit Explorer. ProPublica. Form 990-PF data for 2023. Retrieved from https://projects.propublica.org/nonprofits/organizations/222175290

  10. "Prudential Foundation: Using Philanthropy To Drive Racial Equity and Financial Inclusion." Financial Health Network. Retrieved from https://finhealthnetwork.org/prudential-foundation-using-philanthropy-to-drive-racial-equity-and-financial-inclusion/

  11. "Newark – A Model of Inclusive Economic Growth." Prudential Financial. Retrieved from https://www.prudential.com/links/about/corporate-social-responsibility/thought-leadership-perspectives/newark-model-economic-growth

  12. "Prudential's Community Grants Program drives change in Newark." Prudential Financial News. (2024). Retrieved from https://news.prudential.com/latest-news/feature-stories/feature-stories-details/2024/Prudentials-Community-Grants-Program-drives-change-in-Newark/default.aspx

  13. Shané Harris LinkedIn Profile. Retrieved from https://www.linkedin.com/in/shan%C3%A9-harris-9a1ab47/

All websites accessed November 2025.

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