Ally Charitable Foundation

Quick Stats

• Annual Giving: $7.2 million (2023)
• Success Rate: Not publicly disclosed
• Decision Time: 12 weeks
• Grant Range: $5,000 - $1,000,000
• Average Grant: $39,645
• Geographic Focus: Charlotte, NC and Detroit, MI

Contact Details

Email: grants@ally.com
Phone: (980) 312-8320
Website: www.ally.com/about/social-impact/grants/
Address: 601 S Tryon St, Charlotte, NC 28202-1841

Overview

Established in 2020 by Ally Financial, Inc. (formerly GMAC), the Ally Charitable Foundation manages assets totaling $81.7 million and distributed $7.2 million across 181 grants in 2023. The foundation is laser-focused on supporting economic mobility by removing barriers and fostering financial and social inclusion in Ally's hometown communities of Charlotte, NC and Detroit, MI. The foundation employs a trust-based philanthropy approach that prioritizes unrestricted funding, simplified application processes, and support for grassroots organizations—particularly Black-led organizations—that are often overlooked by traditional funders. Led by President Mike Rizer, the foundation has demonstrated significant commitment to workforce development, affordable housing, and financial education, with strategic initiatives including a $150 million workforce development commitment and nearly $1 billion pledged to housing initiatives.

Funding Priorities

Grant Programs

• Annual Grant Cycle: $5,000 - $1,000,000 (most grants under $500,000)
  • Single annual application period: March 1-31
  • Online application via www.ally.com/about/social-impact/grants/
  • Organizations limited to one grant per calendar year

Priority Areas

Affordable Housing

• Supporting affordable housing development and preservation
• Neighborhood revitalization initiatives
• Housing accessibility programs

Financial Education

• Financial literacy programs
• Economic empowerment initiatives
• Programs promoting financial inclusion

Workforce Development

• Vocational training programs
• Youth career preparation
• Skills development for underserved populations
• Programs supporting entrepreneurship and homeownership

Special Focus: The foundation prioritizes Black-led grassroots organizations working to close opportunity and wealth gaps in Detroit and Charlotte communities.

What They Don't Fund

• Organizations without 501(c)(3) tax-exempt public charity status
• Organizations outside of Charlotte, NC and Detroit, MI geographic areas
• Past grantees that failed to provide required documentation or reports
• Organizations that cannot provide audited financial statements and IRS Form 990

Governance and Leadership

Mike Rizer, President & Executive Director of Corporate Citizenship at Ally Financial

With over 25 years of experience in financial services, Rizer oversees the Community Reinvestment Act (CRA), fair lending practices, community development, and all aspects of corporate social responsibility at Ally.

Key Philosophy from Leadership:

On their approach: "In addition to supporting organizations doing exemplary work in promoting economic mobility, we will use the Foundation as an important new avenue to listen, collaborate, and learn, in order to drive lasting, equitable changes in the communities we serve." – Mike Rizer

On simplifying access: "Many of these organizations operate on very tight budgets to provide critical, on-the-ground support, and we wanted to make the funding process simpler and more accessible." – Mike Rizer

On supporting overlooked organizations: "Our targeted, yet agile, approach to community giving starts to meet the pressing needs of smaller organizations led by Black leaders that are often overlooked by other funders. These unrestricted grants will put game-changing funds in the hands of organizations aiming to close the opportunity and wealth gaps in their areas." – Mike Rizer

Application Process & Timeline

How to Apply

1. Take Eligibility Quiz: Review eligibility requirements on the foundation website
2. Prepare Documentation:
   • Audited financial statements for most recently completed fiscal year
   • Copy of IRS Form 990
   • 501(c)(3) verification
3. Submit Online Application: Applications accepted March 1-31 annually (11:59 PM EST deadline)
4. Application Portal: www.ally.com/about/social-impact/grants/

Required Qualifications:

• 501(c)(3) nonprofit organization verified through IRS Exempt Organizations database
• Based in Charlotte, NC or Detroit, MI
• Work aligned with affordable housing, financial education, or workforce development
• Ability to provide audited financial statements and Form 990
• Compliance with all applicable laws

Decision Timeline

• Review Period: Up to 12 weeks after March 31 deadline
• Notification Method: Email
• Post-Award Requirement: Impact report due within 30 days of program completion

Success Rates

The foundation made 181 awards in 2023 and 113 awards in 2025. Specific success rate percentages are not publicly disclosed. The foundation has noted a "113% increase in grant requests since 2022," indicating growing demand.

Reapplication Policy

Organizations can reapply during the next grant cycle period. Only one grant per organization per calendar year is awarded.

Application Success Factors

Trust-Based Philanthropy Approach: The foundation explicitly prioritizes trust, relationships, and flexibility over rigid metrics. They look beyond traditional outputs like "meals served" to understand holistic community impact and "neighborhood transitions."

Focus on Grassroots and Minority-Led Organizations: The foundation actively seeks to support smaller organizations and Black-led groups that may not typically be on traditional funders' radar. If your organization fits this profile, emphasize this in your application.

Demonstrate Community Understanding: Show genuine, nuanced understanding of community needs. The foundation values organizations that can articulate how their work addresses systemic barriers to economic mobility.

Unrestricted Funding Preference: The foundation favors providing unrestricted grants that give organizations flexibility to make need-based decisions quickly and efficiently. Frame your request to show how flexible funding enables greater impact.

Recent Grant Examples to Learn From:

• Cakeable Charlotte: Vocational training for adults with intellectual and developmental disabilities
• George Washington Carver Food Research Institute: Future Food Professionals Agriculture STEAM Academy
• Boys and Girls Club of Southeast Michigan: Programs preparing youth for careers, entrepreneurship, and homeownership
• Detroit Phoenix Center: Youth support programs (received unrestricted funding)
• Invest Detroit: $1 million for Strategic Neighborhood Fund supporting affordable housing and small business development

Show Impact Beyond Numbers: The foundation values organizations that can demonstrate broader community transformation, not just service delivery metrics.

Additional Support Opportunities: Beyond grants, the foundation offers board positions, technology assistance, and marketing support to grantees. If relevant, mention capacity-building needs.

Key Takeaways for Grant Writers

• Geographic Restriction is Absolute: Only organizations in Charlotte, NC or Detroit, MI are eligible—do not apply if you're outside these areas
• One Shot Per Year: With a single annual cycle in March, ensure your application is polished and complete before the March 31 deadline
• Think Beyond Traditional Metrics: Focus on holistic community impact, systemic change, and long-term economic mobility rather than just service delivery numbers
• Unrestricted Funding is the Goal: Frame requests to demonstrate how flexible funding enables responsive, effective programming
• Grassroots and BIPOC-Led Advantage: If your organization is small, Black-led, or typically overlooked by funders, emphasize this—it aligns with their strategic priorities
• Build Real Relationships: The foundation values collaboration and learning; demonstrate openness to partnership beyond transactional funding
• Plan for 3+ Month Wait: With 12-week review timelines, plan your organizational budget and cash flow accordingly

References

• Ally Charitable Foundation Grants & Sponsorships Page: https://www.ally.com/about/social-impact/grants/ (Accessed January 18, 2026)
• Ally Financial Help Center - Grants & Sponsorships FAQs: https://www.ally.com/help/grants/ (Accessed January 18, 2026)
• Instrumentl 990 Report - Ally Charitable Foundation: https://www.instrumentl.com/990-report/ally-charitable-foundation (Accessed January 18, 2026)
• Ally Media Release: "Instant impact: Ally Charitable Foundation invests in transformational grants for Black-led grassroots organizations" (July 27, 2022): https://media.ally.com/2022-07-27-Instant-impact-Ally-Charitable-Foundation-invests-in-transformational-grants-for-Black-led-grassroots-organizations
• Ally Media Release: "Ally commits over $150 million to workforce development initiatives to drive economic mobility" (August 11, 2025): https://media.ally.com/2025-08-11-Ally-commits-over-150-million-to-workforce-development-initiatives-to-drive-economic-mobility
• Ally Media Release: "Invest Detroit and Ally Charitable Foundation Announce $1 Million Grant to Support City of Detroit's Strategic Neighborhood Fund" (February 18, 2025): https://media.ally.com/2025-02-18-Invest-Detroit-and-Ally-Charitable-Foundation-Announce-1-Million-Grant-to-Support-City-of-Detroits-Strategic-Neighborhood-Fund
• Impact Podcast with John Shegerian: "Innovating New Approaches to Charitable Giving with Mike Rizer of Ally Financial" (May 2024): https://impactpodcast.com/episode/2024/05/innovating-new-approaches-to-charitable-giving-with-mike-rizer-of-ally-financial/
• Inside Philanthropy - Ally Charitable Foundation Profile: https://www.insidephilanthropy.com/find-a-grant/grants-a/ally-charitable-foundation (Accessed January 18, 2026)
• ProPublica Nonprofit Explorer - Ally Charitable Foundation: https://projects.propublica.org/nonprofits/organizations/844571035 (Accessed January 18, 2026)