CalMoneySmart 2026-2028 Grant Program

The CalMoneySmart Grant Program, managed by the California Department of Financial Protection and Innovation (DFPI), provides financial education and empowerment funding to nonprofit organizations serving unbanked and underbanked communities across California. Established in 2019 with the passage of Senate Bill 455, the program originally launched with a $4 million fund. This was expanded by an additional $10 million through Assembly Bill 137 in 2021–22, raising the annual allocation to $2 million through fiscal year 2030. CalMoneySmart aims to address structural financial inequities by enabling nonprofits to reach populations with limited or no access to mainstream banking systems. Unbanked households are defined as those without access to a checking or savings account, while underbanked households rely on alternative financial services like payday loans, check cashing, pawn loans, and similar tools. These households often face higher costs for basic financial services and limited access to credit-building resources. The program focuses on mitigating these disparities by funding nonprofits that provide free education and services to help individuals establish credit, reduce debt, build savings, and access low-cost, responsible financial products. Grants of up to $200,000 per year are available and must be used for classroom-based or web-based financial education, individualized financial coaching, or the creation of financial tools tailored to unbanked and underbanked Californians. All projects must promote economic security and align with the Consumer Financial Protection Bureau’s Five Principles of Effective Financial Education. Grantees are required to set and evaluate outcome targets and include a measurement component that demonstrates impact on financial well-being. Importantly, no more than 15% of funds can be used for administrative costs, and funds may not be used for financial incentives, such as savings matches or gift cards. Eligible applicants must be 501(c)(3) nonprofits in good standing with the California Secretary of State. Applicants must also have submitted satisfactory final reports for any prior CalMoneySmart grants. Fiscal sponsorship or sub-awarding to other nonprofits is not permitted. Services may be subcontracted, but only if clearly defined in the application’s scope of work and budget. The application window for the 2026–2028 cycle opens March 30, 2026, and closes April 27, 2026. Applications must be submitted via the Submittable platform, and the DFPI strongly encourages attendance at one of two Q&A sessions scheduled on April 9 and April 16, 2026. Grant funding will be awarded for a two-year period with separate disbursements for each fiscal year. Second-year funding is contingent on submission of a satisfactory annual report. Applicants can find additional information and submit applications via grants.dfpi.ca.gov. Questions about the program can be directed to [email protected]. Interested organizations are encouraged to act promptly, as all applications must be finalized by the close date and incomplete or late submissions may be disqualified. The CalMoneySmart program represents a long-term commitment by the State of California to bridge gaps in financial inclusion and help historically marginalized communities build pathways to economic stability.

Align proposal with CFPB’s Five Principles and include clear measurable outcomes.