Capital One has launched a $500,000 grant program called "dFund" to help nonprofits succeed in the digital economy.
Clifford Yee, a senior director at the McLean-based bank, spoke briefly about dFund during a Nov. 6 meeting of the Nonprofit Roundtable, where he is treasurer on the board of directors. Yee said the initiative is part of Capital One's push to be "the Apple of banks" – a catalyst for digital innovation.
So it probably isn't surprising that part of the grant application includes a video pitch, such as this one by Upwardly Global, which helps skilled immigrants and refugees overcome barriers to employment. The nonprofit is currently coaching some 200 people in Greater Washington, strategic initiatives manager Tadd Wamester told me. Upwardly Global plans to open an office in Silver Spring by early next year.
"The videos are a very forward-thinking approach," Wamester said of the dFund application.
Yee said about 150 organizations have applied for the four $100,000 grants and four $25,000 grants. Capital One is in the process of winnowing the applicants through this month and plans to announce awards by the end of the year. The grants cover a one-year period with potential to renew for additional funding.
"Capital One developed the dFund which will invest in innovative programs that help individuals, families and organizations succeed in a digital economy," according to this blog post by the New York Fund. "The dFund is a catalyst to propel nonprofits working in Capital One markets to further the ideation and development of this change for individuals and organizations in their communities.
I reached out to Yee and Capital One for additional details but have not heard back yet.