Established in April 2020, the fund works to support community members who have been impacted by the pandemic.
The first round of grants totalled $110,000 (£79,400/€93,600).
Some of the funding in the second round was raised through a 10-day prize draw from the PTO 2020 Championship, with triathletes including Jan Frodeno, Dave Scott and Lucy Charles-Barclay donating their time and memorabilia.
The PTO also contributed to the relief fund by donating all proceeds from its pay-per-view livestream broadcast of the PTO 2020 Championship.
The USA Triathlon Foundation received 72 applications for funding from race directors and race management organisations, as well as from coaches, clubs and other individual organisations.
"The multisport community has faced incredible challenges in the last year - but thanks to the hard work and passion of our race directors, coaches, clubs and other individuals, we never lost hope for a brighter future," said David Deschenes, USA Triathlon Foundation executive director.
"The 2021 season brings with it the return of races, group training and the community events we've missed so much.
"The USA Triathlon Foundation is proud to support these efforts through the COVID-19 relief fund, and we are grateful for the generosity of donors nationwide who have made these grants possible."
Recipients were selected through an application process and by an independent seven-member Grant Committee.
Funding was awarded to individuals and organisations that are helping to improve lives through triathlon.
