U.S. Bancorp Foundation

Quick Stats

Annual Giving: $38.2 million (2023)
Total Assets: $162.5 million (2023)
Grant Range: $50,000 - $500,000 (Opportunity Fund); varies for Community Possible grants
Geographic Focus: 26 states across U.S. Bank service areas
Application Method: Invitation only (established partners) / Letter of Interest (new applicants)

Contact Details

Address: P.O. Box 634, Milwaukee, WI 53201-0634

Phone: 866-366-7072

Email: usbanksupport@cybergrants.com

Website: Community Possible Grant Programme | Opportunity Fund

Overview

The U.S. Bancorp Foundation, established as the philanthropic arm of U.S. Bank, distributed $38.2 million in grants during 2023 with total assets of $162.5 million. The foundation operates primarily through two grant programmes: Community Possible and the Opportunity Fund, a five-year, $75 million initiative launched in October 2023 to expand opportunity access in low- to moderate-income communities. The foundation's strategic approach centres on three pillars—Work, Home, and Play—with particular emphasis on addressing economic and racial inequities. Priority focus segments include low- and moderate-income communities, women, and communities of colour. The foundation serves communities across 26 states spanning the U.S. Bank service area from the Pacific Northwest through the Midwest to the Southeast.

Governance and Leadership

President: Erica Opstad, Senior Vice President, Head of Community Affairs and President of U.S. Bank Foundation

Funding Priorities

Grant Programmes

Community Possible Grants: Grant amounts vary by organisation size and programme scope

Work grants: Workforce education, economic prosperity, small business development, job-skill and career readiness, pathways to post-secondary education, and financial well-being programmes
Home grants: Neighbourhood stability and revitalisation, affordable housing development, homeownership programmes including counselling and down payment assistance
Play grants: Arts and cultural programming, arts education, learning through play in active play-based programmes for K-12 students, and community gathering spaces

Applications accepted: Operating grants, programme/project grants, and capital grants (capital grants require prior funding history and U.S. Bank board representation)

Opportunity Fund: $50,000 - $500,000 annually (five-year, $75 million commitment)

Small business capital access and entrepreneurial services
Affordable housing development and capital expansion
Homeownership programmes
Digital access and broadband infrastructure in rural and Native American communities
Financial health and consumer financial wellness support

Applications accepted: Operating grants and programme/project grants; Letters of Interest accepted on rolling basis with invitation to full application

Priority Areas

The foundation prioritises organisations that:

Serve low- and moderate-income communities within designated U.S. Bank service areas
Address more than one grant pillar (Work, Home, and Play combined)
Have an intentional approach to addressing immediate needs and systemic economic and racial barriers
Demonstrate innovation and differentiation within focus areas
Show demonstrated outcomes and impact
Apply equitable giving practices in support of priority segments (low- and moderate-income communities, women, and communities of colour)

Geographic Eligibility: Organisations must be based in and serve designated U.S. Bank communities across 26 states: Arizona, Arkansas, California, Colorado, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Minnesota, Missouri, Montana, Nebraska, Nevada, New Mexico, North Carolina, North Dakota, Ohio, Oregon, South Dakota, Tennessee, Utah, Washington, Wisconsin, and Wyoming.

What They Don't Fund

Political organisations or lobbying activities
For-profit entities
Religious organisations (unless services are non-sectarian)
Athletic teams or sponsorships
Endowments
Individual scholarships
Discriminatory organisations
Deficit reduction efforts
Organisations outside designated U.S. Bank service areas

Application Process & Timeline

How to Apply

For Established Partners: Established partners may apply annually via invitation from a U.S. Bank Foundation community affairs manager. These invitations are extended to organisations with existing funding relationships.

For New and Emerging Organisations: Nonprofit organisations new to U.S. Bank Foundation may submit a Letter of Interest (LOI) at any time during the year through an electronic application. The foundation ensures funding is set aside each year to explore new opportunities. Organisations must subsequently receive an invitation to submit a full application after LOI review.

Eligibility Requirements:

Tax-exempt status under IRS section 501(c)(3)
Maintain a nondiscrimination policy
Be based in and serve designated U.S. Bank communities

Application Platform: Electronic application system accessed through Cybergrants

Decision Timeline

Specific decision timelines are not publicly disclosed. Organisations submit Letters of Interest on a rolling basis, and those selected are invited to submit full applications. The foundation notes that they receive funding requests that exceed their grant programme budget, requiring them to decline support to worthy organisations.

Notification: All decisions of the Foundation are final and there is no appeal process. Year-end reporting is required from grantees.

Reapplication Policy

The foundation does not specify a mandatory waiting period for unsuccessful applicants. Declination does not reflect a negative appraisal of the organisation or the value of its programmes and services. New Letters of Interest may be submitted at any time during the year.

Application Success Factors

Based on the foundation's stated priorities and guidance, successful applicants demonstrate the following:

Innovation and Differentiation: The foundation considers "innovation and/or differentiation in their focus areas of work, home and play, as well as programming and services that advance positive community engagement efforts." Applications should clearly articulate what makes the organisation's approach unique or innovative within their service area.

Multi-Pillar Approach: To make the most meaningful impact, the foundation prioritises organisations that address more than one of the grant pillars (Work, Home, and Play). Applications demonstrating integration across multiple focus areas have a strategic advantage.

Equity Focus: Organisations must show an intentional approach to addressing systemic economic and racial barriers to success. The foundation applies equitable giving practices in support of priority segments: low- and moderate-income communities, women, and communities of colour.

Demonstrated Outcomes: Applications should include clear evidence of impact through measurable outcomes and results from current or past programming.

Community Alignment: Organisations must be based in and serve designated U.S. Bank communities. Geographic alignment is a non-negotiable requirement.

Recent Funding Examples demonstrate the foundation's priorities in action:

Momentus Capital organisations (Capital Impact Partners and CDC Small Business Finance) received a combined $950,000 in multi-year grants for mission-driven nonprofit work (July 2024)
PBS Reno received $16,000 to support PBS Reno STEM Works, featuring businesses offering STEM careers (February 2024)
Humility Homes & Services received funding for programmes helping individuals and families with rapid rehousing, eviction prevention, and access to affordable rental housing
More than 350 organisations received Community Possible grants totalling $11.75 million to provide access to affordable housing, cultural enrichment and recreation opportunities, and workforce and economic development

Foundation Language: Applications should reflect the foundation's terminology around "Community Possible," economic and racial equity, low- and moderate-income communities, and transformative community impact.

Key Takeaways for Grant Writers

Invitation-based system: Established partners receive annual invitations; new organisations must submit a compelling Letter of Interest to be invited to full application—invest time in crafting a strong LOI
Multi-pillar advantage: Organisations addressing multiple pillars (Work, Home, Play) are explicitly prioritised—demonstrate integration across focus areas where possible
Equity is central: Applications must show intentional approaches to addressing systemic economic and racial barriers; generic diversity statements won't suffice
Geographic boundaries are firm: Only organisations based in and serving designated U.S. Bank communities across 26 states are eligible—verify geographic alignment before applying
Innovation matters: The foundation values differentiation and innovation within their focus areas—clearly articulate what makes your approach unique
Relationship building for new applicants: Community affairs managers serve as key contacts for established partners; new organisations should focus on creating a compelling LOI that demonstrates alignment with foundation priorities
No appeals, but reapplication allowed: Whilst decisions are final with no appeal process, there's no stated waiting period for reapplication—unsuccessful applicants can submit new LOIs

References

Information compiled May 2026

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