Financial Literacy

posted by admin on Feb 3

HHS Assets for Independence – Spring Cycle Grant applications due March 25 – $19 million estimated funding for 55-65 grant awards

Most young people stumble through their lives learning financial literacy by trial and error” – Jumpstart Coalition

There is a lack of financial literacy in the US of A to determine it an urgency… a crisis and non-profits are desperately needed to step up and think about offering financial literacy type of programs. Here is your chance with the Health and Human Services Assets for Independence Program (AFI).

The financial literacy concept in the Assets for Independence program provides five-year grants to nonprofit organizations — including faith-based organizations — and government agencies. The financial literacy programs should “empower low-income families to become economically self-sufficient for the long-term”.

AFI grantees provide financial education training on money management issues, and assist participants to save earned income in special accounts that are matched, sometimes, four dollars to each one dollar and are called Individual Development Accounts (IDAs).

Participants use the IDAs to accumulate funds with the goal of acquiring a first home, post-secondary education, or starting up or expanding a small business.
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posted by admin on Feb 2

Texas – one of the first states to approve Summer Youth Program…more states to come

The Texas Workforce Commission, has approved “stimulus” funds… (WIA – American Recovery Reinvestment Act (ARRA)… to implement “Summer Youth Programs”. TWC Staff has completed planning for this year’s Summer Youth Program. The plan has gone through the “bureaucratic” tiers- nonprofits…workforce board…state…fed…. “This year’s Summer Youth Program is poised to implement some great programs,“ said a TWC staffer.

So nonprofits, education, churches…START PLANNING!!!…Nonprofits that work with youth have a great opportunity to “co-enroll” youth with the “Summer Youth Program”… churches and education need to channel the youth to get enrolled quickly help get more information by contacting a workforce board staffer.

In the state of Texas there are 28 workforce boards that will receive the funds. The youth will receive money and other “perks” to participate…but most of the youth will receive work experience and instruction that teaches them the “right” workplace behavior…like “no pants on the ground”… ethical behavior… foundation skills.
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posted by admin on Feb 2

Ford Foundation

Category: Economic Empowerment, Education, Community Improvement, Financial Literacy
Potential Funder Ford Foundation
Deadline Applications are considered throughout the year. Normally applicants, within six weeks receive indication whether proposals are within program interests and are being considered for a grant the approval process includes meetings, site visits, grant negotiations, administrative and legal review – this is generally completed with three months, depending on the complexity of the project.
Website website here
Ineligible Inelgible activities include undergraduate scholarships, grants for personal needs or business assistance, health care, vehicle purchase, student loan repayment and scientific inventions, after-school programs, athletic leagues, orphanages or elder care.
Eligibility Nonprofits (501c3) are eligible to apply
Criteria Asset Building and Community Development; Peace and Social Justice; and Knowledge, Creativity and Freedom
Past Award Recipients Bay Area Video Coalition, Inc. $100,000 (Knowledge, Creativity and Freedom) To create a regional network of school- and community-based training sites utilizing the coalition's comprehensive youth media training and development model; Acorn Housing Corporation, Inc $100,000 (Finance & Economic Security) To create and pilot a proactive mortgage delinquency consulting program with major mortgage services to reduce foreclosures among low and moderate income homeowners. Consumer Federation of America $75,000 (Assets) For a demonstration campaign in Cleveland to promote savings among the least affluent and to evaluate the effectiveness of this strategy for building assets

posted by admin on Feb 1

Wachovia Foundation

Category: Private Foundation Community Development - Economic Development
Potential Funder Wachovia Foundation
Deadline no deadline - on-line application
Website website here
Ineligible Individuals, programs of national scope that do not specifically benefit our markets, International organizations, travel or conferences for employees of non-profit organizations, political action committees, political causes, or candidates, books, research papers or articles in professional journals, Veteran, fraternal and alumni organizations, Religious organizations, unless they are engaged in a significant project that is nonsectarian and benefits a broad base in the community, Private foundations, general operating expenses for organizations that already receive substantial support through United Way or united arts drives in which Wachovia participates, sponsorships, events, or projects for which Wachovia and/or its employees receive tangible benefits or privileges, Individual pre-college schools - private, parochial, charter or home schools, Individual schools in public school systems (other than through efforts to benefit system-wide programs and initiatives or as a part of a Wachovia-sponsored partnership program)
Eligibility Nonprofits (501c3) are eligible to apply. The organization should exhibit significant support (through the contribution of time or financial resources) from a Wachovia employee(s). Proposals must target low- to moderate-income individuals or communities to help build inclusive and diverse communities. The program should foster collaborative efforts that leverage community investments
Criteria Primary Focus Areas: -Education and Community Development - Secondary Focus Areas: Health and Human Services, Arts and Culture Have broad community support and be able to demonstrate fiscal and administrative stability – must align program with one or more of the focus areas.
Past Award Recipients Examples of past funded programs: Atlanta Neighborhood Development Partnership, Inc. GA - $100,000.00, Latin American Economic Development Association, Inc. NJ $15,000, Boys and Girls Club Lancaster PA $5,000.00
Grant Award Range $250.- no specific maximum

posted by admin on Feb 1

Hitachi Foundation

Category: Corporate Foundation Economic Empowerment, Community Development
Potential Funder Hitachi Foundation
Deadline Online inquiry system for nonprofit organizations to send information about project ideas and will receive response as to whether project meets criteria for further consideration. If the idea meshes with the priorities of the Business and Communities Grants Program, your organization may be invited to submit a concept paper or a complete proposal.
Website website here
Ineligible The Foundation does not make grants to individuals, for-profit businesses or for business start-ups or expansions.
Eligibility Support is limited to nonprofit organizations 501 (C) (3) in the United States.
Criteria Primary focus for the Foundation is to improve the ability of economically isolated people to work, earn living wages, and/or accumulate assets. Local projects should serve high poverty areas or communities as evidenced by poverty rates or other indicators of need. Will give priority consideration to projects that: leverage our support with other funding sources; are replicable or have a model that can be brought to scale; and/or focus on small to medium sized businesses in the targeted sectors
Past Award Recipients Examples of funded projects: East New York Planning Group, Brooklyn, NY - Used community gardens and vacant, city-owned land to create a skills training and micro enterprise development program for community gardeners and youth while preserving scarce open space. Community Economic Development Center of Southeastern Massachusetts, New Bedford, MA - Established the Fishing Industry Cooperative Enterprises (FICE), a worker-owned and operated aquaculture-hydroponics operation to work with displaced fishermen and their families. Boggs Rural Life Center, Keysville, GA - Established a Center for Integrated Rural Development (CIRD) and implemented a solid waste management program as a demonstration resource recovery and economic development mechanism.
Grant Award Range Business and Communities - $20,000 - $150,000

posted by admin on Feb 1

F.B.Heron Foundation

Category: Corporate Foundation Economic Empowerment
Potential Funder F.B. Heron Foundation
Deadline There are no formal application deadlines. Staff will review your letter of inquiry and notify you within one week of receipt whether your request is declined or is undergoing review by a program officer, whose name and direct phone number will be supplied to you.
Website website here
Ineligible Does not make grants to endowments, capital construction campaigns, or individuals.
Eligibility Nonprofits (501c3) are eligible to apply.Funds only in selected areas
Criteria Home ownership; Enterprise Development; Child Care; Access to Capital; Comprehensive Community Development
Past Award Recipients Examples of awards by category: (1) Comprehensive Community Development Category: Avenue Community Development Corp - $25,000, Coastal Enterprises, Inc.. $200,000, Community Dev. Corp. of Long Island $50.000. (2) Access to Capital Category – Earned Asset Resource Network, Inc. $50,000 (3) Child Care Category – Kidango, Inc. $50,000. (4) Home Ownership Category – Bridge Housing Corp. $60,000 (5) Enterprise Development Category – Corporation for Enterprise Dev. $125,000, CHARO Community Dev. Corp" $35,000
Grant Award Range First-time Grant Range: $25,000.00 - $50.000.00

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