The City of Newton is seeking proposals for programs that promote economic stability and/or economic mobility among Newton’s most under-resourced individuals and families.
Donor Name: City of Newton
State: Massachusetts
City: Newton
Type of Grant: Grant
Deadline: 12/01/2022
Size of the Grant: $530,000
Grant Duration: 3 years
Details:
Economic stability refers to having the resources essential to one’s life and well-being. Factors affecting economic stability include employment, reliable income, livable wages, wealth (e.g., assets, savings, retirement), debt, housing costs, health status and healthcare costs, childcare costs, other costs of living (e.g., food, necessities, transportation), and family structure. Economic instability is also an important factor and refers to repeated changes in employment, income, or financial well-being over time, particularly changes that are not intentional, predictable, or part of upward mobility. Economic instability is not a single event, but a pattern that may span a lifetime or generations.
Economic mobility refers to economic well-being and its change over time. At the individual level, economic mobility can be viewed as intragenerational (within a person’s lifetime) or intergenerational (over multiple generations). Generally measured in terms of income and wealth, economic mobility may also be measured in terms of other tangible outcomes such as education and homeownership and intangible outcomes such as social inclusion or being valued in the community.
The City of Newton is seeking well-reasoned proposals that will result in demonstrable changes/outcomes in economic stability and/or economic mobility. Applicants are expected to make a strong and compelling case that their proposed approach will promote economic stability and/or create opportunities for economic mobility among Newton’s under-resourced individuals and families.
The City of Newton will consider a range of programs and approaches that promote economic stability/mobility. For example, applicants might propose interventions that address:
- Asset building
- Career pathways/coaching
- Debt reduction
- Educational attainment
- Family-sustaining income/employment
- Financial literacy/counseling
- Housing
- Well-being
- Workforce development
Priority Population
Funds may only be used to support low-income residents (65% AMI or below) of the City of Newton. Specifically, these funds are intended to support under-resourced Newton households, particularly those of Black and Hispanic residents that were disproportionately impacted by the COVID-19 pandemic and continue to face significant economic challenges on a daily basis.
Funding Information
- $530,000 per year will be awarded to one proposer for three years (January 2023 through December 2025)
- The term of the contract shall be for the period January 1, 2023 through December 31, 2025.
Eligibility Criteria
- Only organizations that have a 501(c)(3) designation or those with a 501(c)(3) fiscal sponsor are eligible.
- Applicants may submit a proposal in partnership with one or more other providers. If you elect to do so, there must be one lead agency. Memorandum of understanding (MOU’s) between the lead agency and each partnering provider must be submitted with the proposal and should include a summary of roles and responsibilities and the amount of grant funds allocated to the various partners to support the work.
For more information, visit City of Newton.
