Truist Foundation releases multiyear report on strategic philanthropy impact

Rhea-AI Summary

Truist Foundation (NYSE: TFC) has released its multiyear impact report, "Scaling for Impact," showcasing the results of its strategic philanthropy initiatives since 2020. The Foundation's focused grantmaking strategy centers on two key pillars: strengthening small businesses and building career pathways.

The report highlights significant achievements, including creating or retaining 26,800 jobs, providing support services to nearly 26,000 workers, assisting more than 18,000 small businesses, and facilitating job placements for nearly 16,000 workers. The Foundation emphasizes a data-driven approach to enhance economic viability across the Southeast through inclusive and transparent grantmaking processes.

Positive

• Creation or retention of 26,800 jobs through strategic funding
• Support provided to over 18,000 small businesses
• Nearly 26,000 workers received support services
• Successful placement of nearly 16,000 workers into jobs

Negative

• None.

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CHARLOTTE, N.C., July 31, 2025 /PRNewswire/ -- Today, Truist Foundation released its multiyear impact report, Scaling for Impact, offering data-backed evidence that bold, strategic philanthropy can enhance the economic viability of communities across the Southeast.

Launched in 2020, Truist Foundation's grantmaking strategy focuses on two giving pillars— strengthening small businesses and building career pathways, to help fulfill Truist Financial Corporation's purpose to inspire and build better lives and communities. The report details how this focus, combined with an ecosystem approach, has created measurable impact—and a scalable model other funders can learn from.

"At a time when many nonprofits are seeing reduced giving, we've stayed the course—partnering deeply with nonprofits, learning from our grant partners and doubling down on what works," said Lynette Bell, president of Truist Foundation. "Economic mobility is not just an aspiration; it's a measurable outcome when we invest in people, in organizations, and in ecosystems. This report reflects Truist Foundation's commitment to leading with purpose and delivering on our promise to drive impact."

The report highlights the Foundation's work to foster a more inclusive and transparent grantmaking process, emphasizing measurement, capacity building and ecosystem support. These efforts helped unlock quality jobs, elevate small business ecosystems and drive upward economic mobility across underfunded and under-resourced regions.

Since 2021, Truist Foundation's strategic funding has helped:

• create or retain 26,800 jobs,
• provide nearly 26,000 workers with support services,
• support more than 18,000 small businesses, and
• place nearly 16,000 workers into jobs.

Keith Thornton, chief impact officer at Truist, stated, "Our Foundation's strategy is fundamentally based on achieving impact. We maintain that philanthropy should be both meaningful and bold. This report represents our insights and serves as a call to action for those dedicated to enhancing economic opportunities for everyone."

To learn more about this comprehensive philanthropy model and powerful grant partner case studies, download the full report at Truist.com/Foundation.

About Truist Foundation
Truist Foundation is committed to Truist Financial Corporation's (NYSE: TFC) purpose to inspire and build better lives and communities. The Foundation, an endowed private foundation established in 2020 whose operating budget is independent of Truist Financial Corporation, makes strategic investments in a wide variety of nonprofit organizations centered around two focus areas: building career pathways to economic mobility and strengthening small businesses to ensure all communities have an opportunity to thrive. Embodying these focus areas are the Foundation's leading initiatives – the Inspire Awards and Where It Starts. Learn more at Truist.com/Foundation.

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SOURCE Truist Foundation

FAQ

What are the main achievements of Truist Foundation's strategic funding since 2021?

Since 2021, Truist Foundation has created or retained 26,800 jobs, supported over 18,000 small businesses, provided support services to nearly 26,000 workers, and placed nearly 16,000 workers into jobs.

What are the two main focus areas of Truist Foundation's grantmaking strategy?

Truist Foundation focuses on two main pillars: strengthening small businesses and building career pathways to enhance economic mobility.

When was Truist Foundation established and what is its relationship with TFC?

Truist Foundation was established in 2020 as an endowed private foundation with an operating budget independent of Truist Financial Corporation (NYSE: TFC).

How does Truist Foundation approach its grantmaking process?

The Foundation employs an inclusive and transparent grantmaking process that emphasizes measurement, capacity building, and ecosystem support to drive economic mobility in underfunded regions.