U.S. Bancorp Foundation

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OVERVIEW: The U.S. Bancorp Foundation is the philanthropic arm of the financial services company and supports education, workforce development, economic development, affordable housing, and arts and culture in the areas where its bank has a presence.

IP TAKE: This funder switched from an open application system to an invitation only model in 2021, making it more difficult for grantseekers to secure funding. No longer accessible, which is common for corporate funders, the foundation now takes a proactive approach towards funding. However, grant seekers can still send a letter of inquiry, so write a brief, well-organized letter that clearly enunciates how your work aligns with the foundation’s mission and how your work, in particular, is innovating on past approaches to your area of concern. This foundation is also approachable, but its responsiveness lags.

PROFILE: The U.S. Bancorp Foundation is the philanthropic arm of U.S. Bancorp, the financial services company based in Minneapolis. A word here about corporate nomenclature: The company U.S. Bancorp is often referred to as U.S. Bank, which is the signage their bank storefronts (and commercial website) use. By extension, the U.S. Bancorp Foundation is often referred to as U.S. Bank Foundation—on its own website, the two names are used somewhat interchangeably. But be aware that formally speaking (including by IRS designation) the foundation discussed here is the U.S. Bancorp Foundation. The foundation makes grants in three categories: Home, Work, and Play.

Grants for Housing and Homelessness, Community Development

U.S. Bancorp Foundation’s Home Grants program makes grants to “assist people in developing stability in their lives through access to safe, sustainable and accessible homes.” Specific funding areas within this program include support for “organizations that preserve, rehabilitate, renovate or construct affordable housing developments for low- and moderate-income families, individuals, seniors, veterans, and special-needs populations.” It also funds programs that use transitional housing as a gateway to permanent housing, build green homes for low- and moderate-income communities, or provide energy retrofit programs for low- and moderate-income housing developments.

Grants for Work and Economic Opportunity; Grants for K-12 and Higher Education

The foundation makes grants through its Work Grants program to support “programs and organizations that help small businesses thrive, allow people to succeed in the workforce, provide pathways to higher education and gain greater financial literacy.” This program’s workforce grants fund small business technical assistance programs and job-skills and career readiness training programs. The Work program’s educational support component makes grants to “help low- and moderate-income and at-risk middle and high school students prepare for post-secondary education at a community college, university, trade or technical school and career readiness.” It also funds initiatives and programs that provide career and educational opportunities for low- and moderate-income and diverse students. Finally, the program supports financial literacy for K-12 and college students, seniors, and military service members and veterans. 

Grants for General Arts and Culture, Arts Education, Performing Arts and Visual Arts

The foundation supports access to artistic and cultural programming and arts education in local communities through its Play Grants program. Some of the program’s directives include funding for “programs that provide access to cultural activities, visual and performing arts, zoos and aquariums and botanic gardens for individuals and families living in underserved communities.” It also supports programs that provide funding for “local arts organizations that enhance the economic vitality of the community” and for “arts-focused nonprofit organizations that bring visual and performing arts programming to low- and moderate-income K-12 schools and youth centers.”

Both performing and visual arts are a focus of this granting area. The foundation views support, uplift, and development for communities in need—within Locations where its banking occurs—as key to its granting mandate. Unlike many of its corporate granting peers who give to arts organizations, U.S. Bancorp Foundation earmarks grants for general operating support as well as program support (and capital projects too, under stricter circumstances).

In the world of music, U.S. Bancorp Foundation prioritizes classical music and jazz performance organizations working and producing within a range of communities—big, small, urban, and rural. For dance, Bancorp prioritizes ballet performance groups. Its theater funding typically goes to theater companies working and producing within communities, but the foundation is refreshingly diverse in terms of the types of communities (big, small, urban, rural) it supports and the types of theater it funds (classical, contemporary, avant garde, LORT, Equity, community productions). Finally, in the visual arts space, the foundation gives preference to museums (though perhaps they are also applying more than other visual arts groups). But in a nice change of pace, these museums are working and producing within a range of communities—big, small, urban, and rural—as well as presenting a diverse array of visual art.

On the corporate side, U.S. Bancorp has a Corporate Sponsorship program that supports a small and select group of “leading arts and cultural organizations.” Music, dance, and the visual arts are not prevalent within this very short list, but it is another avenue for grantseekers to pursue. Theater is represented, but grant seekers must be a very big player.

Important Grant Details:

  • Grants range from about $5,000 to $50,000, but sometimes offer more.

  • Bancorp funding is limited to organizations operating in designated communities in the states served by its parent company.

  • While grants are invitation only, the foundation does invite new grantseekers to submit a letter of interest. Organizations with “unique and innovative programs” that match the foundation’s Home, Work, and Play initiatives will be invited to submit a full application.

  • For more details on U.S. Bank Foundation grants, please refer to its grant guidelines.

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