The Department of Commerce, Office of Neighborhood Economic Development’s Earned Income Tax Credit Preparation & Financial Education Services – Requests for Proposals is now open.
Donor Name: City of Philadelphia
State: Pennsylvania
City: Philadelphia
Type of Grant: Grant
Deadline: 09/30/2024
Size of the Grant: $100,000 to $500,000
Grant Duration: 1 Year
Details:
As part of holistic economic development, the NFS sees increasing household wealth, financial education and providing free cost financial services as a contributor for economic growth for families and business owners. The NFS seeks to make free tax preparation services, benefits access, and financial literacy services accessible within their neighborhoods.
Funding available for nonprofit organizations to offer free tax filing and financial literacy services for low-to-moderate income households within eligible areas. Through this grant opportunity, the Neighborhood Funding Stream seeks to increase household wealth, financial education and providing free cost financial services as a contributor for economic growth for families and business owners.
Priorities
Eligible applicants are invited to apply for one or both funding priorities listed below.
Financial Literacy, Benefits Access and Education Services
- Neighborhood Funding Stream intends to continue to support low/moderate income individuals (youth, adults, families, returning citizens and/or business owners) within the Philadelphia Empowerment Zone through financial education, assistance opening bank account, saving and obtaining assets, and accessing income supports such as the Benefit Bank. The grant will fund creative approaches and solutions and is not prescriptive in its methods. This grant will support new financial education programing if it is in line with the applicant’s organizational mission. Varied approaches and target audiences will be considered. The objectives of the funded activities will include, but are not limited to:
- Financial Education (budget building, household finance, retirement savings, investor/consumer protection, financial markets and investing, access to financial institutions, managing debt, investment education)
- Business Financial Education/Coaching
- Assistance opening bank accounts, saving accounts, and accessing income support such as the Benefit Bank (i.e. TANF, food stamps, LIHEAP, rent rebates, and social security benefits).
- Programing designed to break down employment barriers.
Tax Preparation Services
NFS intends to continue to support low/mod-income working families by funding free tax preparation services to be delivered within their neighborhood at a location and time that is accessible to families and individuals. The applicant must have experience providing tax preparation services. The objectives of the funded activities will include:
- Providing free tax preparation services in target neighborhoods for low- income families and low-income business owners.
- Increasing the number of eligible low-income families who claim the EITC in the targeted neighborhoods through outreach and assistance.
- Saving low-income families money through free tax preparation services by discouraging the use of high-cost refund anticipation loans.
Funding Information
- The total funding for all services combined will not exceed $200,000, and each neighborhood will not receive more than $50,000 in funding.
- Grant funded activities must occur between December 1, 2024 to November 30, 2025.
Eligibility Criteria
The Neighborhood Funding Stream will only consider funding organizations that clearly and convincingly identify how residents from the three eligible neighborhoods will be served with the grant. Please note:
- In order to be eligible, organizations do not need to have a permanent home in the eligible neighborhoods. However, organizations applying for a grant must show that they can deliver services within the neighborhood(s) by way of short-term lease.
- Organization must have a defined outreach and marketing plan.
- Organizations must demonstrate understanding of the mission of the grant funds set forth in the request for proposals and provide necessary details concerning program implementation.
For more information, visit City of Philadelphia.
