A new component of Citi's Pathways to Progress initiative, the Youth Opportunity Fund will provide funding to city-specific initiatives that address the issue of youth unemployment, including programs that involve partnerships with municipal governments and promote collaborations across sectors. To that end, the fund will award grants of up to $250,000 in support of local nonprofit programs and college and career opportunities for urban youth in Boston, Chicago, Dallas, Los Angeles, Miami, New York City, Newark, St. Louis, San Francisco, and Washington, D.C. Grant recipients will be announced in July.
"While the increase in the nation's high school graduation rate over the last decade is unprecedented, there are still nearly seven hundred and fifty thousand students who are not graduating on time each year, and an estimated 5.6 million students who have earned a high school credential but remain unemployed," said America's Promise president and CEO John Gomperts. "America's Promise and the Citi Foundation are committed to creating an environment where all young people can succeed in school and in life. This new grant fund offers organizations an opportunity to provide a pathway forward to help underserved young people achieve their American Dream."