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KeyBank Foundation

Annual Giving
$28.2M
Grant Range
$10K - $0.8M
Decision Time
3mo

KeyBank Foundation

Quick Stats

  • Annual Giving: $28,153,952 (2023)
  • Success Rate: Not publicly available
  • Decision Time: Up to 90 days
  • Grant Range: $10,000 - $750,000+
  • Geographic Focus: 15 states (AK, CO, CT, ID, IN, ME, MA, MI, NY, OH, OR, PA, UT, VT, WA)

Contact Details

Website: https://www.key.com/about/corporate-responsibility/keybank-foundation.html

Grant Application Portal: https://www.key.com/about/corporate-responsibility/apply-for-a-grant.html

Application Support: Contact local KeyBank office for informal inquiries before applying

Overview

KeyBank Foundation is a nonprofit charitable organization founded in 1969 and funded by KeyCorp. Based in Cleveland, Ohio, the Foundation distributed approximately $28.2 million in grants in 2023 across its 15-state footprint. The Foundation's mission is to improve lives by supporting organizations that advance economic mobility and inclusive growth for low- to moderate-income individuals, families, communities, and small business owners. The Foundation has built an approach that focuses on partnering with organizations that strengthen communities through three key priorities: Neighbors, Education, and Workforce. Since 2017, KeyBank has made community investments totaling more than $1.8 billion in its hometown Cleveland market. In 2025, as part of its bicentennial celebration, the Foundation launched a $5.4 million CDFI grant program, awarding $200,000 to exemplary Community Development Financial Institutions in each of its 27 markets.

Funding Priorities

Grant Programs

Community Grants: $10,000 - $25,000 (average $15,000)

  • Awarded quarterly throughout the year
  • Invitation-only after submitting Expression of Interest
  • Focus on direct service programs
  • Minimum organizational budget requirement: $100,000

Community Impact Grants: $225,000 - $750,000+

  • Multi-year commitments (typically 3 years)
  • Support comprehensive program development and expansion
  • Larger-scale initiatives with significant community impact
  • Recent examples: $300,000 to Preble Street (3 years), $750,000 to IndyEast Economic Mobility District

Community Sponsorships: Variable amounts

  • Accepted January through October only
  • Up to 90-day processing time
  • Applications should be submitted at least 2 months before decision needed

Special Initiatives:

  • CDFI Bicentennial Grants: $200,000 per market (2025)
  • Specific focus on affordable housing and small business growth through CDFIs

Priority Areas

Neighbors: Creating safe, healthy, affordable, and inclusive communities with thriving family homes and small businesses. Programs that support community development, affordable housing, home repair initiatives, and economic development.

Education: Ensuring students have access to financial resources for education, improving college enrollment and retention rates, and increasing graduation rates. Support for youth programming, college access programs, and educational equity initiatives.

Workforce: Improving graduation and certification program completion rates, increasing employment placement and retention rates, workforce development programs, skills training, and pathways to economic opportunity. Recent focus on green jobs and sector-specific training.

Cross-cutting themes: Economic mobility, financial inclusion, support for Native American communities, small business support, and teen mental health and wellness.

What They Don't Fund

  • Organizations that discriminate based on race, color, religion, national origin, age, gender, gender identity, disability, or sexual orientation
  • Individuals
  • Memberships, lobbying or political activities
  • Advertisements
  • Athletic teams or booster clubs
  • Organizations outside the United States
  • Organizations outside their 15-state footprint (AK, CO, CT, ID, IN, ME, MA, MI, NY, OH, OR, PA, UT, VT, WA)
  • Organizations with annual operating budgets under $100,000 (for Community Grants)

Governance and Leadership

Board Members: Andrew J. Paine III (Randy) serves on the Board of Directors of the KeyBank Foundation. Paine also serves on the Board of Directors of the United Way of Greater Cleveland and the DePauw University Board of Trustees.

Values Statement: The Foundation seeks to help build communities where prosperity is widely shared and barriers to advancement are minimized, embracing values of inclusion and belonging among board members, staff, and those they serve.

Application Process & Timeline

How to Apply

KeyBank Foundation operates primarily on an invitation-only basis for Community Grants. Organizations interested in funding should follow this process:

  1. Expression of Interest (Starting 2025): Submit a brief Expression of Interest form through the KeyBank grant management system. This allows organizations to introduce themselves and share their priorities with the Foundation. This is the first step for new community partners.

  2. Informal Inquiry: Before applying, contact a local KeyBank office to make an informal inquiry. The Foundation encourages preliminary contact via email or telephone prior to full submission.

  3. Invitation to Apply: After reviewing the Expression of Interest, a local representative will determine if the organization should be invited to submit a full Community Grant application.

  4. Online Application: Once invited, applicants use KeyBank's online grant portal. As of July 1, 2025, the system requires users to sign in with a Blackbaud ID.

  5. Community Sponsorships: These requests follow a different process with a direct application option. Applications accepted January through October only.

Note: Organizations typically do not receive multiple grants and sponsorships within the same calendar year, though there is no restriction on the number of times an organization may apply.

Decision Timeline

  • Local representatives review submissions and provide a response within 90 days
  • Community Grant decisions are made quarterly throughout the year
  • Community Sponsorship requests can take up to 90 days for processing
  • Submit applications at minimum 2 months before funding is needed

Success Rates

Success rate statistics are not publicly available. The Foundation does not publish data on the number of applications received versus grants awarded.

Reapplication Policy

There is no restriction on the number of times an organization may apply. However, the Foundation typically does not award multiple grants and sponsorships to the same organization within the same calendar year.

Application Success Factors

Based on KeyBank Foundation's stated priorities and funded projects, successful applications demonstrate:

Strong Alignment with Funding Priorities: Applications must clearly align with one or more of the three core priorities (Neighbors, Education, Workforce). The Foundation specifically seeks programs that provide direct services to low- to moderate-income individuals, families, communities, and small business owners.

Organizational Capacity: Proposals should demonstrate a solid organizational foundation, leadership strength, and the ability to manage and scale impact over time. Community Grant applicants must have an annual operating budget of at least $100,000.

Measurable Community Impact: The Foundation partners with organizations that produce lasting results and continually build on their community impact. Successful applicants articulate clear outcomes and demonstrate how they will measure success.

Values of Inclusion and Belonging: KeyBank Foundation grants are provided to organizations that embrace values of inclusion and belonging among board members, staff, and those they serve. Applications should demonstrate commitment to diversity, equity, and inclusion.

Direct Service Delivery: Preferred programs are those that provide direct services to beneficiary populations rather than indirect or intermediary services.

Recent Funded Projects as Examples:

  • Youth Opportunities Unlimited (Cleveland) - youth development and workforce
  • TECH CORPS (Cleveland) - STEM education
  • Legal Aid Society of Cleveland - access to justice for low-income residents
  • CHN Housing Partners ($2.5M) - home repair collaboration
  • Olympia Snowe Women's Leadership Institute (Maine) - youth leadership programs
  • Tree Street Youth Inc. (Maine) - adolescent leadership development
  • Mercy Connections (Vermont) - small business equity
  • Champlain Housing Trust (Vermont) - rental readiness program
  • National Center for American Indian Enterprise Development ($500K) - Native-owned farms and businesses

Geographic Considerations: Organizations must be located or operating in one of KeyBank's 15 states. The Foundation makes grants across all 27 of its markets, so demonstrating local presence and community connections is important.

Key Takeaways for Grant Writers

  • Start with Expression of Interest: Don't wait for a formal RFP. Submit an Expression of Interest to get on the Foundation's radar, especially if you're a new potential partner.
  • Contact local KeyBank office first: Make an informal inquiry before applying to understand if your organization and project align with local priorities.
  • Focus on direct service and economic mobility: Applications that clearly demonstrate direct service delivery to low-to-moderate income populations advancing economic mobility are most competitive.
  • Meet the budget threshold: Ensure your organization has at least $100,000 in annual operating budget for Community Grants; if not, explore Community Sponsorships.
  • Demonstrate inclusion: Explicitly address how your organization embraces diversity, equity, inclusion, and belonging in governance, staffing, and service delivery.
  • Plan ahead for timing: With 90-day decision timelines and quarterly decisions, submit well in advance of when funding is needed.
  • Consider multi-year Community Impact grants: If you have a comprehensive, high-impact program requiring significant funding ($225K+), inquire about Community Impact grants rather than standard Community Grants.

References

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