Named in honor of former California State Senator Richard G. Polanco, a founder and the chair of the California Latino Caucus Institute, the Polanco Fellowship program provides leadership training and development for a select group college graduates. As of Spring 2007, there are 24 Polanco Fellows.

Considered one of the premier public policy fellowships in the nation, the Polanco Fellowship is a yearlong placement that includes leadership training at the world-renowned Center for Creative Leadership in La Jolla, an annual Institute Orientation at UCLA, a four-month placement in a major state agency in Sacramento such as CalPERS and, then, the heart of the Fellowship, an eight-month placement in the Capitol office of a state legislator. While in the legislator's office, Polanco Fellows carry legislation, staff the member and attend hearings on critical public policy issues.

In addition to their placement, the Fellows create and manage a Community Service Project that provides a direct benefit to the Sacramento community and they also attend a weekly seminar taught by award-winning professors from the California State University, Sacramento.

The Fellowship is funded through the generosity and visionary support of the Institute's Corporate Advisory Board.