The American Electric Power Foundation is funded by American Electric Power and its operating subsidiaries, aiming to provide a permanent, ongoing resource for charitable initiatives. It focuses on enhancing life quality in communities served by AEP and beyond, emphasizing education in STEM fields, basic human needs for housing and hunger, as well as social and racial justice. The Foundation also supports environmental conservation, healthcare, safety, and the enrichment of life through the arts and cultural heritage.
The grant program by the American Electric Power Foundation primarily supports non-profit 501(c)(3) organizations, requiring an invitation to apply from their local AEP Operating Company. Accepted organizations are then directed to apply online, with requests reviewed throughout the year by the Foundation's board of directors. The grant targets initiatives in education (early childhood to higher education), particularly in STEM, basic needs (emergency shelter, affordable housing, hunger elimination), social and racial justice (specifically through the "Delivering On the Dream" grant program), environment protection, healthcare, safety, and cultural enrichment.