A mental, emotional, and behavioral (MEB) health crisis among children and youth has emerged due to the COVID-19 pandemic, presenting a significant concern and an opportunity for improving care and support for children and young people. In March 2022, Nemours Children’s Health and Grantmakers In Health cosponsored an invitational virtual meeting of funders focused on opportunities for systems change. Feedback from the convening was used to develop this report, which issues a call to action for philanthropic organizations and public-sector partners that are ready to move forward in improving MEB health. It describes existing philanthropic and federal MEB initiatives based on information gathered from policy scans, interviews, focus groups, and a convening of philanthropic organizations. Finally, it offers a potential portfolio of aligned strategies for private- and public-sector partners to consider.