The Diplomas Now initiative is funded with generous support  from the PepsiCo Foundation. PepsiCo Foundation established in 1962, is the philanthropic anchor of PepsiCo, responsible for providing charitable contributions to eligible non-profit organizations. The Foundation is committed to developing sustainable partnerships and programs in underserved regions that provide opportunities for improved health, environment and education.

In August 2010, the Department of Education’s Investing in Innovation Fund (referred to as i3) gave its “highest ranking” to the Talent Development – Diplomas Now application from the Center for Social Organization of Schools at Johns Hopkins University in partnership with City Year, Communities In Schools, and 14 school districts. It was one of 15 highest-rated applications in the validation category of the i3 competition, which had more than 1,700 applicants.