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Truist Foundation Inc

Annual Giving
$65.9M
Grant Range
$5K - $0.3M
Decision Time
4mo

Truist Foundation Inc

Quick Stats

  • Annual Giving: $65.8 million (2023)
  • Success Rate: Not publicly disclosed
  • Decision Time: 4 months after deadline
  • Grant Range: $5,000 - $250,000+
  • Geographic Focus: 17 states along East Coast, primarily Southeast U.S., extending west to Texas
  • Total Assets: $435.6 million (2023)
  • Number of Grants: 570 awards (2023)

Contact Details

Website: https://www.truistfoundation.org
Email: truistfoundation@truist.com
Phone: 833.307.2351
Address: Orlando, FL
EIN: 23-7336418

Overview

The Truist Foundation Inc was established in 2020 as an endowed private foundation following the merger of SunTrust Bank and BB&T. Its predecessor, SunTrust Foundation, was established in 1973 in Virginia. With $435.6 million in assets and $65.9 million in annual giving (2023), the Foundation makes strategic investments in nonprofit organizations to promote opportunities for people to thrive. The Foundation has been recognized for its innovative approach to corporate grantmaking, notably accepting unsolicited applications online—a rarity amongst corporate funders. The Foundation has become not only more accessible but also more involved in its grantmaking process, providing capacity-building support and convening nonprofits to learn from each other. Since 2021, the Foundation has invested in organizations that help create pathways for more than 25,000 workers and their families.

Funding Priorities

Grant Programs

1. General Grant Program: Building Career Pathways to Economic Mobility

  • Grant Range: $5,000+
  • Application Method: Three fixed annual cycles (deadlines: March 31, July 31, November 30)
  • Focus: Investing in organizations, programs, and initiatives that help systemically disadvantaged workers navigate the employment journey
  • Description: Supports nonprofits providing innovative solutions for workforce development, career navigation, reskilling, and upskilling for adults

2. General Grant Program: Strengthening Small Businesses

  • Grant Range: $5,000+
  • Application Method: Three fixed annual cycles (deadlines: March 31, July 31, November 30)
  • Focus: Serving critical needs of adults through strengthening small businesses
  • Description: Supports programs helping low-to-moderate income entrepreneurs and small business owners succeed

3. Inspire Awards (Annual Innovation Competition)

  • Grant Range: $10,000 (semifinalists) to $250,000 (first place), plus $75,000 audience favorite award
  • Application Method: Annual competition hosted with MIT Solve
  • Focus: Capacity-building grants for innovative nonprofit solutions addressing career pathways and economic mobility
  • Description: Includes in-person training at Truist Leadership Institute, one-on-one coaching, and skill-building workshops. All finalists attend a two-day retreat and the annual Solve at MIT event in May. Total program awards more than $1 million in grants and in-kind services.

4. Community Catalyst Initiative (Truist Charitable Fund)

  • Grant Range: Varies (recent awards totaled $5 million to 17 organizations)
  • Application Method: By invitation only
  • Focus: Expanding affordable housing, supporting community development, and addressing critical community needs
  • Description: Supports organizations expanding geographic footprint and creating lasting community impact

5. Special Focus Areas (Invitation Only)

  • Thriving Communities
  • Education
  • Disaster Relief and Recovery
  • Note: These grant requests are only reviewed if submitted with an invitation code

Priority Areas

  • Workforce Development: Reskilling, upskilling, and career transitions for adults in middle or late career stages
  • Economic Mobility: Creating pathways for systemically disadvantaged workers
  • Small Business Support: Programs for low-to-moderate income entrepreneurs
  • Low-to-Moderate Income (LMI) Populations: Particular emphasis on economically disadvantaged individuals, children, and youth
  • Sustainable Programs: New program launches, curriculum development, program equipment, and capital needs (not recurring operational expenses)
  • Innovation: Tech-enabled solutions and innovative approaches to economic challenges

What They Don't Fund

Ineligible Organizations:

  • Donor-advised funds
  • Private foundations
  • Personal trusts and endowments
  • Individuals or families (including scholarships, humanitarian efforts, personal bills, or catastrophic event assistance)
  • Organizations providing grants, loans, or payments to donors or related parties
  • Organizations that discriminate based on race, creed, national origin, color, religion, class, sex, sexual orientation, gender identity, age, disability, veteran status, or other protected classifications
  • Tax-exempt organizations outside Section 501(c)(3)
  • Non-functionally integrated Type III supporting organizations
  • Political organizations
  • Religious entities primarily focused on faith-based missions
  • Private schools not serving primarily low-to-moderate income populations

Ineligible Funding Requests:

  • Requests providing Truist Financial teammates or related parties direct or indirect material benefit (e.g., athletic booster club benefits, special event benefits)
  • Annual grants or general operations (except United Way chapters)
  • Conferences without a charitable focus
  • Documentaries and films
  • Medical or scientific research
  • Membership dues
  • Scholarships
  • Sponsorships
  • Fundraising events or travel-related events (including student trips or tours)
  • Pledges or legally-binding financial obligations made by donors or related parties
  • Deficit reduction
  • Recurring expenditures

Governance and Leadership

President: Lynette Bell (since 2019)

Lynette Bell has led the Truist Foundation since 2019, bringing a strong emphasis on relationship-building and equitable change. Bell has stated: "Hearing from each of these visionary nonprofits was both inspiring and a good reminder of the power of philanthropy to help alleviate real-life challenges facing both workers and employers."

On the importance of relationships in her work, Bell emphasizes: "I'm big on relationships" and advises young people that "Building relationships gives you opportunities."

The Foundation operates as an independent entity within Truist Financial Corporation, which operates across 17 states along the East Coast and into Texas.

Application Process & Timeline

How to Apply

Online Application Portal: Applications must be submitted through the Foundation's grants management portal at https://www.truistfoundation.org/grant-application. First-time applicants will need to create an account.

Eligibility Requirements:

  • Organizations classified as 509(a)(1) or 509(a)(2) public charities under Section 501(c)(3) of the Internal Revenue Code
  • Includes churches (for secular, charitable programs only), educational organizations, hospitals, and publicly supported organizations
  • Must comply with nondiscrimination policies

Application Process:

  1. Complete online eligibility quiz
  2. Provide organization's EIN
  3. Verify IRS standing
  4. Submit required documentation:
    • List of board of directors
    • Annual operating budget
    • Program or project budget specific to the request
    • Supporting documentation to verify low-to-moderate income (LMI) focus if applicable

Choose Your Focus Area: If your organization fits multiple areas, select the one that's the best fit. The Foundation expects alignment to one of their established giving pillars.

Save and Return: Applications can be saved and completed at a later time using the "Save and Finish Later" option.

Decision Timeline

Grant Cycles: Three fixed annual cycles

  • Cycle 1: March 31 deadline → July notification (4 months)
  • Cycle 2: July 31 deadline → November notification (4 months)
  • Cycle 3: November 30 deadline → April notification (4 months)

Notification Method: Email notification approximately 4 months after the submission deadline.

Success Rates

The Foundation does not publicly disclose specific success rates or the number of applications received annually. However, the Foundation distributes "hundreds of grants a year," primarily in the Southeast U.S., with 570 awards totaling $65.9 million in 2023. Meeting qualifying organization criteria does not guarantee a grant will be provided.

Reapplication Policy

For Unsuccessful Applicants: There is no waiting period to apply again. Organizations that do not receive a grant may reapply in any subsequent grant cycle.

For Successful Grantees: The Foundation generally requires grantees to wait at least three years between their grant award and the next request. The Foundation does not make multi-year grants nor support annual grants.

Application Success Factors

Alignment with Funding Pillars

Critical Requirement: Organizations and the intended use of funds must align to one of the established Truist Foundation giving pillars and must not fall under "non-qualifying" or "ineligible" categories. This is the first evaluation criterion.

Evaluation Criteria

The Foundation evaluates each grant request based on:

  • Program Management and Budget: Demonstrate strong organizational capacity and fiscal management
  • Sources of Income: Show diverse funding streams and sustainability
  • Population Served: Clear focus on low-to-moderate income (LMI) populations and systemically disadvantaged workers
  • Distinctive Features: Innovative approaches and unique solutions to economic mobility challenges
  • Community Impact: Measurable outcomes and scalable solutions

Funding Amount Strategy

Grant amounts are based on program strength, impact, and alignment with funding pillars. The Foundation supports needs that are sustainable and prefers one-time investments such as:

  • New program launch funding
  • Curriculum development to expand or strengthen a program
  • Equipment needed to deliver a program
  • Capital needs

Recent Success Examples

Inspire Awards Winners (2025):

  • FreeWorld ($250,000 + $75,000 audience favorite): Tech-enabled solution that reskills and places formerly incarcerated citizens into the trucking industry
  • Encore Employment Enterprises Inc. ($150,000): Call-center training program tailored for older adults seeking employment

Inspire Awards Winners (2024):

  • Centro Community Partners ($250,000 + $75,000 audience favorite): AI-generated journey through a virtual hub of resources for low- to moderate-income entrepreneurs
  • Immigrants Rising ($150,000): Gamification learning hub to help remove barriers to traditional employment for those seeking sustainable income through small business ownership

Community Catalyst Initiative (2024):

  • Center for Community Self-Help: Expansion of Naturally Occurring Affordable Housing Preservation Project and Housing Loan Fund
  • Virginia Supportive Housing: Geographic expansion to bring affordable housing to rural and suburban Virginia communities
  • Capital Good Fund: Expansion of low-cost, credit-building loan programs into New Jersey

Foundation's Direct Advice

The Foundation emphasizes that successful applications demonstrate:

  1. Innovation: Unique, creative approaches to addressing economic mobility challenges
  2. Sustainability: Solutions that can continue beyond initial grant funding
  3. Measurable Impact: Clear metrics and outcomes for served populations
  4. LMI Focus: Explicit service to low-to-moderate income populations
  5. Scalability: Potential to expand and serve more people over time

Key Takeaways for Grant Writers

  • Focus on innovation and sustainability: The Foundation seeks unique solutions with lasting impact, not one-time services or recurring operational support. Frame your request around specific capacity-building needs like program launches, curriculum development, or equipment.

  • Demonstrate clear LMI focus: Explicitly show how your program serves low-to-moderate income populations and systemically disadvantaged workers. Be prepared to provide supporting documentation verifying this focus.

  • Choose the right program stream: If your work aligns with both career pathways and small business strengthening, choose the single best fit. Clear alignment to one funding pillar is more important than trying to fit both.

  • Consider the Inspire Awards for innovation: If your organization has an innovative, tech-enabled, or unique solution to workforce development challenges, the annual Inspire Awards competition offers significantly larger grants ($10,000-$325,000) plus capacity-building support.

  • No penalty for reapplication: Unlike many funders, unsuccessful applicants can reapply immediately in the next cycle without a waiting period—but ensure you've strengthened areas of weakness before resubmitting.

  • Plan around the 4-month timeline: With three annual cycles and 4-month decision periods, factor this timing into your program planning and budget cycles. Submit early in the year if you need funding before calendar year-end.

  • Build relationships beyond transactional applications: Foundation President Lynette Bell emphasizes that "Building relationships gives you opportunities." Engage with the Foundation's convenings, learning opportunities, and networking events when possible.

References

All sources accessed December 18, 2025.

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