Geraldine R. Dodge Foundation Announces $11.1 Million in New Grants

The Geraldine R. Dodge Foundation has approved more than $11 million in new grant and investment commitments — $6.08 million in Housing Choice and $5.05 million in Economic Mobility — as part of our commitment to closing the racial wealth gap in New Jersey. The grants reflect a deliberate, evidence-driven strategy to move families from economic exclusion toward financial security and autonomy. These grants and investments reflect the scale, breadth, and urgency of our mission to close the racial wealth gap in our state.

At the core of our strategy is a belief that housing stability and economic opportunity are inseparable. Communities of color in New Jersey face compounding barriers: renters in our target cities spend close to half of their monthly income on housing, homeownership rates remain suppressed by systemic barriers and a shortage of affordable supply, and residents are disproportionately locked out of the high-wage jobs and wealth-building tools that could change the trajectory of their families.

Our framework is designed to meet people across a spectrum of need from those experiencing the most acute forms of economic exclusion, to households that are housed and employed but remain dangerously close to the edge. The goal is not just inclusion but autonomy: giving families the agency to make meaningful choices about their lives.

On the housing side, that means investing simultaneously in renter durability, homeownership access and asset preservation, and the development of new affordable units. On the economic mobility side, it means funding career-connected workforce training, addressing non-discretionary costs that reduce incomes, financial wellbeing, and asset-building strategies that produce real, durable gains in income and wealth. This comprehensive approach is essential to making progress towards our mission of closing the racial wealth gap.