Citi Foundation commits $5M to boost access to child savings program and early wealth-building

Citi Foundation has announced a $5 million grant to Prosperity Now to launch its Asset-Building for Children Initiative, expanding access to child savings opportunities for low-income households across the United States. The grant will fund outreach to families and provide training and resources for IRS-sponsored Volunteer Income Tax Assistance providers, helping eligible households enroll in the newly launched Trump administration 530A savings accounts and build long-term savings for children. The initiative will support two years of support following the savings program’s July 2026 rollout, aiming to strengthen early wealth-building, financial education, and economic mobility for families through trusted nonprofit and community-based assistance.