First Bank – Community Development Grant (2026)

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Community Revitalization & Economic Opportunity Grants in Southeast Alaska

Organization: First Bank
Support Type: Charitable grants (Community Development)
Geographic Focus: Alaska (primarily Southeast Alaska)
Typical Award Amount: Up to $5,000
Application Deadline: Last business day of each month (rolling monthly review)

About the Funder

First Bank is committed to fostering economic growth and strengthening the communities it serves across Southeast Alaska. Through its Community Development Grant Program, the bank invests in organizations that revitalize communities, expand affordable housing and economic opportunities, and improve community facilities and services.

The program principally benefits low- and moderate-income individuals and families in designated distressed and underserved communities throughout Southeast Alaska.

What This Program Supports

Grants of up to $5,000 are awarded to qualified organizations that support:

Community revitalization
Affordable housing expansion
Economic opportunity development
Improvement of community facilities and services

Requests from individuals or organizations outside of Alaska will not be considered.

Funding Priorities

1️⃣ Economic Priorities

Affordable Housing

Preservation, rehabilitation, and construction of quality affordable housing
Homebuyer counseling and financial education for low- and moderate-income individuals and families

Self-Sufficiency

Work-entry programs and skills training
Employment retention initiatives
Personal financial management training
Childcare and transportation programs supporting transitions from welfare to work

Economic Development

Small business development and expansion
Commercial revitalization
Job creation in low- and moderate-income areas and underserved communities

2️⃣ Education

First Bank supports:

Innovative programs helping low-income and at-risk students succeed in school and prepare for post-secondary education
Financial literacy training
Effective mentoring programs

Priority is given to programs serving seniors, youth, and individuals with disabilities.

Income Eligibility Guidelines

The Area Median Income (AMI) for communities served by First Bank is currently $92,200 per household.

Low Income: Less than 50% of AMI (under $46,100)
Moderate Income: At least 50% but less than 80% of AMI (under $73,760)

Applicants are encouraged to align eligibility metrics with these AMI categories whenever possible.

Eligibility Requirements

To qualify:

Organizations must be based in Alaska
Programs must primarily benefit low- and moderate-income individuals or communities
Requests must align with First Bank’s community development objectives

First Bank reserves the right to deny applications inconsistent with its objectives or equal opportunity policies.

Timeline & Review

📅 Deadline: Last business day of each month
📅 Review Process: Applications reviewed monthly
📅 Notification: Allow up to 30 days from each deadline date for decision notification

Applications are accepted at any time but will be held until the next monthly deadline for review.

Application Process

Applicants must complete the official First Bank Community Development Grant Application and include all required attachments.

Applications may be:

Downloaded from the First Bank website
Obtained at any First Bank branch
Submitted through the methods listed on the application form

Contact for additional information:
Sheila J. Kleinschmidt, Vice President
📞 907-228-4256
📧 skleinschmidt@firstbankak.com

Apply / Learn More:
➡️ https://www.firstbankak.com/about-us/community-involvement/community-development-grants.html

Why This Opportunity Is a Good Fit

This opportunity is ideal for:

Alaska-based nonprofits serving low- and moderate-income communities
Organizations focused on affordable housing and economic self-sufficiency
Small business development initiatives in distressed rural areas
Education and mentoring programs serving at-risk youth

With a manageable award size and monthly deadlines, this program is well-suited for smaller organizations seeking project-based community development funding.

Corporate Grants Guide Notes

Review Type: Rolling monthly review
Typical Award: Up to $5,000
Best Suited For: Alaska-based nonprofits supporting affordable housing, economic development, and education for low- and moderate-income populations
Geographic Restriction: Alaska only