In the latest round of funding, the T. Rowe Price Foundation has expanded the scope of an initiative to help underserved neighborhoods in Baltimore City and has more than doubled its award to targeted programs.

The four-year initiative will now be citywide and funded at $2.7 million dollars — a boost from the $1.3 million the foundation awarded to West Baltimore neighborhoods in 2016.

The Baltimore Sun reports:

For the current round, the Baltimore-based money management firm’s philanthropic foundation decided to focus citywide on strengthening the creative economy through art and cultural experiences, better linking city schools with community resources and strengthening households’ financial acumen.

The article notes a number of programs the grants will fund including:

• $975,000 for arts-based programs
• $875,000 for educational initiatives 
• $850,000 for programs to improve family finances and financial literacy

For more information:

T. Rowe Price Foundation offers $2.7 million in grants for city neighborhoods (The Baltimore Sun)