On May 27, 2026, the Charles Schwab Foundation announced an exciting initiative aimed at enhancing financial literacy across the United States. The Schwab Moneywise Momentum Grants program will allocate up to $2 million annually to nonprofit organizations that offer innovative solutions for financial education. This initiative is part of a broader $20 million multi-year commitment by the foundation to promote financial knowledge and empower communities.

1. A Commitment to Financial Education

The Charles Schwab Foundation articulated a pressing concern: a significant portion of the population, particularly young individuals, continues to lack access to effective and trustworthy financial education. Chris Wyse, Chief Corporate Affairs Officer at Charles Schwab and President of the Charles Schwab Foundation, emphasized the importance of practical financial education in fostering long-term financial well-being. "Too many people still lack access to the kind of practical financial education that can make a real difference in their lives," Wyse stated. He further reinforced the foundation's dedication to challenging the status quo and investing in organizations that are pioneering new methods to reach those in need.

2. Key Features of the Schwab Moneywise Momentum Grants

The Schwab Moneywise Momentum Grants initiative is designed to support innovative nonprofit-led solutions that enhance access to financial education. Here are some key details:

Funding Availability: The program will provide up to $2 million annually to selected nonprofit organizations.

Focus Areas: Grants will target innovative solutions that address unmet needs, expand access to financial education, and enhance financial knowledge and confidence among individuals.

Application Timeline: Eligible nonprofit organizations can submit a Letter of Interest (LOI) through the online grant portal until July 31, 2026. Those selected will be invited to submit a full application, with grant awards expected to be announced in November 2026.

3. Partnerships and Broader Impact

The Schwab Moneywise Momentum Grants complement the foundation's existing partnerships with notable organizations such as Boys & Girls Clubs of America, DonorsChoose, Girl Scouts of America, Junior Achievement USA, National 4-H Council, and SIFMA Foundation. These collaborations are designed to deliver hands-on financial learning experiences and enhance financial planning education in universities, as well as support local nonprofits that address community needs.

Through this multi-faceted approach, Charles Schwab Foundation aims to create a ripple effect of financial literacy and stability that can benefit individuals, families, and entire communities.

4. How to Get Involved

Nonprofit organizations interested in applying for the Schwab Moneywise Momentum Grants can find more information about the program, eligibility requirements, and application procedures on the foundation’s website. This initiative not only represents a significant financial investment but also a commitment to fostering a culture of financial literacy and empowerment across the nation.

5. About Charles Schwab Foundation

The Charles Schwab Foundation is an independent nonprofit public benefit corporation funded by The Charles Schwab Corporation. Classified as a charity under section 501(c)(3) of the IRS, the foundation is dedicated to advancing financial literacy and fostering stronger communities. Its mission aligns with the broader goal of helping individuals from all backgrounds achieve brighter futures through enhanced financial knowledge.

In summary, the launch of the Schwab Moneywise Momentum Grants reflects Charles Schwab Foundation's proactive stance in addressing the financial literacy gap and underscores the critical importance of equipping individuals with the skills necessary to navigate their financial futures. By empowering nonprofit organizations dedicated to this mission, the foundation aims to create a lasting impact in the realm of financial education.

Original press release