LPL Financial Charitable Foundation
/OVERVIEW: The LPL Financial Charitable Foundation funds work and opportunity and education, prioritizing the states of California, Massachusetts and North Carolina.
IP TAKE: This is not an accessible funder since it doesn’t accept applications in any way. It prefers to research its own organizations to fund. That said, this funding space is crowded. The foundation likes to fund grantees for multiple-cycles making it harder for new grant seekers to get a grant. LPL does like to partner with grantees sometimes, so it’s a great funder to have in your corner if you’re seeking longer-term funding.
Prospective grantees may reach out to local management or submit a general question to the foundation’s parent company via its contact page, but note that LPL is not the most responsive or approachable.
The LPL Financial Charitable Foundation maintains a narrow focus on programs that help underserved students, young adults and others develop career skills. This funder prioritizes California, Massachusetts and North Carolina, predominantly supporting local chapters of large national organizations.
PROFILE: The LPL Financial Foundation is the charitable arm of the San Diego-based LPL Financial, one of the largest independent broker-dealers in the United States. The foundation, which is run out of the company’s Boston office, supports the geographic areas where LPL maintains operations, focusing on “increasing access to career pathways for under-resourced teens and young adults.” This funder is active in the cities of San Diego, Boston and Charlotte and has demonstrated specific interest in financial literacy, the development of career skills and youth development initiatives.
Grants for Work and Economic Opportunity
LPL’s grantmaking for work and economic opportunity centers on organizations that provide career skills training for adults. In Charlotte, the foundation has given to the local chapter of Dress for Success, which provides professional and interview-appropriate clothing to women who are seeking employment. The foundation has also supported Youth Employment Service of Costa Mesa, California and vocational training classes at the YMCA of the Greater Twin Cities in Minnesota.
Grants for Higher Education
Support for colleges and universities is a component of LPL’s career skills funding, although the foundation does not name specific goals for its higher education funding. Recent grantees include Johnson C. Smith University, California State University at San Marcos, Rivier University, Lynn University, Clemson University and Wiley College.
Grants for K-12 Education
LPL’s K-12 funding focuses mainly on creating opportunities for middle and high school students to acquire financial literacy and develop career skills. The foundation has supported out-of-school learning programs run by chapters of the Big Brother and Big Sisters organization, Junior Achievement and Boys and Girls Clubs.
Important Grant Details
In recent years, the LPL Financial Charitable Foundation has made about $1 million in grants a year. Grants are generally awarded in amounts up to $25,0000, with an average grant size of about $5,000. This funder works mainly through ongoing relationships with local chapters of large national organizations that operate in the foundation’s geographic areas of interest. A sizable portion of its grants go to organizations in California, Massachusetts and North Carolina. For additional information about past grantmaking, see the foundation’s recent tax filings.
This funder does not appear to accept unsolicited grant proposals. The LPL Financial Charitable Foundation does not provide a direct way of getting in touch, but prospective grantees may submit general inquiries via its parent company’s contact page. Organizations operating in the areas where the company maintains operations may also reach out to local management to discuss grantmaking opportunities.
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