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Capital One Foundation Inc

Annual Giving
$11.7M
Grant Range
$10K - $0.5M

Capital One Foundation Inc

Quick Stats

  • Annual Giving: $11,682,500 (2023)
  • Success Rate: Not publicly available (invitation-only)
  • Decision Time: Not publicly available
  • Grant Range: $10,000 - $500,000+
  • Geographic Focus: National (United States)
  • EIN: 11-3276603

Contact Details

Address: 1680 Capital One Dr, McLean, VA 22102-3407

Phone: (703) 217-1419

Email: communityaffairs@capitalone.com

Website: Information available through Capital One Community Engagement

Note: The Capital One Foundation does not accept unsolicited proposals. Grant requests are by invitation only.

Overview

The Capital One Foundation Inc was established in 1994 as the philanthropic arm of Capital One Financial Corporation. With total assets of approximately $63.8 million, the foundation distributed $11.68 million in grants across 17 awards in 2023. The foundation's mission centers on expanding economic opportunity for low- and moderate-income families and communities through strategic investments in education, workforce development, affordable housing, and financial well-being. Since 2020, the foundation has operated under the Capital One Impact Initiative, a $200 million, five-year commitment to support growth in underserved communities and advance socioeconomic mobility. As part of Capital One's proposed acquisition of Discover Financial Services, the company announced a record-breaking $265 billion Community Benefits Plan, which includes $575 million in philanthropy over five years—representing a nearly 30% increase over previously planned activities. The foundation particularly focuses on racial equity, investing in diverse communities and businesses, especially those serving Black and Latinx populations.

Funding Priorities

Grant Programs

Capital One Impact Initiative - The primary grantmaking vehicle with awards ranging from $250,000 to $500,000+ for strategic partnerships addressing systemic barriers to economic opportunity. Grants are by invitation only.

Scaling Pathways to Homeownership Open Call - A $25 million initiative administered through Lever for Change:

  • Up to 10 finalists receive $200,000 each in project development support
  • Up to 5 final awardees receive $4.6 million each to scale solutions
  • Application deadline: January 29, 2026
  • Registration required by: December 17, 2025
  • Apply at: homeownership.leverforchange.org

Regional Grant Programs - Smaller community grants ranging from $10,000 to $250,000 for local nonprofit organizations in Capital One's key markets (New York City, Richmond, Dallas, Washington D.C., Chicago, and other locations where Capital One operates).

Specialized Initiatives - Targeted programs such as FAFSA completion support, Indigenous Women in Tech Fellowship ($250,000), and small business support programs.

Priority Areas

The foundation actively funds organizations working in:

  • Education: Early childhood education, literacy programs, after-school initiatives, and college access (particularly FAFSA completion support)
  • Workforce Development: Programs creating pathways to employment for individuals facing barriers, with emphasis on serving Black and Latinx communities
  • Affordable Housing: Rental housing development, homeownership access programs, and housing counseling
  • Community Development: Small business development, particularly supporting Black and Latinx-owned businesses
  • Financial Well-Being: Financial literacy, financial education programs, and digital financial tools for underserved populations
  • Racial Equity: Organizations expanding economic opportunities in Black and Latinx communities

What They Don't Fund

While not explicitly stated, the foundation's invitation-only structure and strategic focus suggest they typically do not fund:

  • Individual requests
  • Organizations outside their strategic priority areas
  • Projects without clear economic mobility outcomes
  • Organizations outside the United States

Governance and Leadership

President: Shena Ashley, PhD, serves as Vice President of Community Impact and Investment at Capital One, President of the Insights Center, and President of the Capital One Foundation (since April 2022).

Dr. Ashley has articulated the foundation's mission clearly: "The Capital One Foundation is proud to partner with [organizations] to improve representation and bring forward the creativity, expertise, and lived experience of these women to shape the technology field and influence the tech solutions of the future. Through financial support and mentorship, we are excited to play a role in providing access to careers that can unlock economic mobility."

Additional trustees and officers are listed in the foundation's annual Form 990-PF filings, available through ProPublica's Nonprofit Explorer and GuideStar.

Application Process & Timeline

How to Apply

Important: The Capital One Foundation does not have a public application process for most grant programs. The foundation "does not accept unsolicited proposals for funding" and operates through "always-on sourcing and relationship development," accepting grant requests received by invitation only. In select cases, they supplement this approach with an open call or RFP process (such as the Scaling Pathways to Homeownership Open Call).

For Invitation-Based Grants: Organizations typically must be invited to apply or have an established relationship with Capital One or the foundation. The foundation identifies potential grantees through:

  • Strategic partnerships with community organizations
  • Relationships developed through Capital One's Community Finance division
  • Referrals from existing grantee partners
  • Capital One's Community Development lending activities

For Open Call Opportunities: When open calls are announced (such as the Scaling Pathways to Homeownership initiative), detailed application instructions are provided on dedicated websites. These opportunities are publicized through Capital One's investor relations and newsroom channels.

Contact for General Inquiries: Organizations can submit general questions through Capital One's contact page or email the Community Engagement staff at communityaffairs@capitalone.com.

Getting on Their Radar

Become Known Through Community Development Activities: Capital One positions itself as "the #1 community development lender nationally," having provided nearly $29 billion in community development loans since 2016. Organizations working in affordable housing development or community finance may encounter Capital One through its Community Finance division, which has financed over $13 billion in construction for 140,000+ affordable housing units since 2007. Building relationships through Capital One's lending activities can create pathways to foundation funding.

Connect with Existing Grantees: Recent grantees include Hope Credit Union (New Orleans), Women's Business Enterprise National Council, Merit America, Year Up, Breaking Ground, West Side Federation for Senior and Supportive Housing, Enterprise (Harlem), Virginia LISC, Metropolitan Business League, Virginia Community Capital, and the Capital Region Small Business Development Center. Organizations working in partnership with these established grantees may find pathways to foundation support.

Engage Through Regional Community Engagement: Capital One has specific community commitments in key markets including New York City, Richmond, Dallas, Washington D.C., and Chicago (including a $35 million commitment to Delaware and $20 million for Chicago as part of the Community Benefits Plan). Organizations in these regions addressing the foundation's priority areas may have opportunities to connect with local Capital One Community Engagement staff.

Partner with CDFI Networks: As part of the $265 billion Community Benefits Plan, Capital One committed to a $50 million increase in new grants to Community Development Financial Institutions (CDFIs). Organizations working with or through CDFIs, particularly those partnered with the National Association for Latino Community Asset Builders (NALCAB), NeighborWorks America, or the Opportunity Finance Network (OFN), may find connection points.

Monitor for Open Calls: Capital One periodically launches open calls for specific initiatives (such as the Scaling Pathways to Homeownership Open Call). Organizations should monitor Capital One's newsroom and investor relations announcements for these opportunities.

Decision Timeline

Decision timelines are not publicly available due to the invitation-only nature of most grants. For open call opportunities like Scaling Pathways to Homeownership, specific timelines are provided:

  • Application deadline: January 29, 2026
  • Finalists announced: Spring 2026 (estimated)
  • Final awards announced: Spring 2027

Success Rates

Success rates are not publicly available. The foundation made 17 awards in 2023, 27 awards in 2022, and 8 awards in 2021, suggesting selective grantmaking focused on strategic partnerships rather than volume.

Reapplication Policy

No information available on reapplication policies. Given the invitation-only structure, unsuccessful applicants would need to maintain relationships with the foundation and await future invitations.

Application Success Factors

Given the invitation-only nature of Capital One Foundation's grantmaking, "success factors" differ from traditional application tips. Organizations seeking to position themselves for potential invitation should consider:

Align with Economic Mobility Outcomes: The foundation's consistent emphasis on "economic opportunity" and "socioeconomic mobility" for "low- and moderate-income families and communities" suggests that clear, measurable outcomes related to economic advancement are essential. Projects should demonstrate how they create pathways to employment, increase earnings, build assets, or otherwise advance economic well-being.

Focus on Racial Equity: The foundation has made explicit commitments to "investing in diverse communities and businesses" and "expanding economic opportunity, particularly for Black and Latinx communities." Organizations serving these populations or addressing racial wealth gaps align with stated priorities.

Demonstrate Scale and Innovation: The foundation describes seeking "innovative and scalable strategies." Recent examples include the Scaling Pathways to Homeownership Open Call seeking "bold solutions that expand access to affordable homeownership" and support for organizations like Merit America and Year Up that operate at significant scale. Small, localized projects may be less aligned with foundation priorities unless they demonstrate clear potential for replication or scaling.

Address Multiple Priority Areas: Recent grants suggest the foundation values organizations that work across multiple priority areas. For example, workforce development programs that also include financial literacy components, or affordable housing initiatives that include resident financial coaching, may be particularly attractive.

Geographic Alignment: While the foundation operates nationally, it has specific commitments in key Capital One markets: New York City, Richmond, Dallas, Washington D.C., Chicago, and Delaware. Organizations in these regions may have advantages, particularly those that can connect to Capital One's broader community development activities in these markets.

Partnership and Collaboration: The foundation emphasizes "collaboration with nonprofit organizations, for-profit developers, and government entities." The Community Benefits Plan was "developed in partnership with NALCAB, NeighborWorks America, OFN, and the Woodstock Institute," suggesting the foundation values organizations that work collaboratively across sectors.

Multi-Year Impact: The foundation notes it "tends to support partner organizations over periods of several years," suggesting preference for sustained relationships and longer-term projects over one-off initiatives.

Recent Examples of Funded Work:

  • Hope Credit Union (New Orleans): $500,000 - financial services in underserved communities
  • Women's Business Enterprise National Council: $500,000 - supporting women-owned businesses nationally
  • FAFSA completion support through National College Attainment Network in 20 cities
  • Indigenous Women in Computing Fellowship through Last Mile Education Fund: $250,000
  • Multiple $250,000 grants to organizations in Dallas, NYC, Richmond, and Washington D.C. addressing "critical local and regional community needs"

Key Takeaways for Grant Writers

  • Invitation-only structure: The foundation does not accept unsolicited proposals. Building relationships with the foundation, existing grantees, or Capital One's Community Finance division is essential for most funding opportunities.

  • Watch for open calls: While most grants are by invitation, the foundation periodically launches open calls for specific initiatives (like the $25M Scaling Pathways to Homeownership). Monitor Capital One's newsroom and investor relations channels.

  • Economic mobility is central: Every priority area connects to expanding economic opportunity for low- and moderate-income communities. Demonstrate clear economic outcomes.

  • Racial equity emphasis: Explicit focus on Black and Latinx communities. Organizations serving these populations or addressing racial wealth gaps are prioritized.

  • Scale matters: Recent grants range from $250,000 to $500,000+ for strategic initiatives. The foundation seeks "innovative and scalable strategies" with potential for significant impact.

  • Geographic concentration: While national in scope, specific commitments exist in New York City, Richmond, Dallas, Washington D.C., Chicago, and Delaware. Organizations in these markets should leverage local Capital One Community Engagement relationships.

  • Multi-year partnerships: The foundation "tends to support partner organizations over periods of several years," suggesting opportunity for sustained funding relationships once established.

References

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