The Citi Foundation has announced a $5 million grant to support Prosperity Now’s ABC Initiative (Asset-Building for Children), a program designed to help low-income families across the United States access child savings opportunities and build long-term financial security.
The initiative will focus on increasing awareness and adoption of new child savings accounts, including the newly introduced Trump Accounts (530A accounts). These accounts aim to help eligible families start investing early for children’s future needs, including education, economic mobility, and financial stability.
Through the grant, the ABC Initiative will provide outreach and education directly to households while also training nonprofit organizations that support families through financial coaching and tax assistance services. The program will work closely with Volunteer Income Tax Assistance (VITA) providers to help eligible families understand and access available savings opportunities.
Child savings accounts are viewed as an important tool for improving financial resilience by allowing families to begin building assets early. The initiative will help communities better understand available resources and make it easier for families to participate.
The program will operate over the next two years, supporting families during upcoming tax seasons while providing year-round financial education and guidance on wealth-building strategies.
The Citi Foundation’s latest investment builds on its long-standing efforts to promote financial education, economic opportunity, and asset-building programs across the United States. Through partnerships with community organizations, the foundation continues to support initiatives aimed at creating stronger financial futures for children and families.
