JACKSONVILLE, Florida – For those communities seeking to help low-wealth individuals and families secure financial self-sufficiency, research suggests a key to success is “bundled” services — that is, coupling financial education and supports with work- and college-preparation programs.
Residents of Delaware soon will have such a comprehensive program thanks in part to the support of the Jessie Ball duPont Fund.
The Fund’s trustees, at their November meeting, awarded $75,000 to United Way of Delaware, Wilmington, to implement $tandByMe, a state-wide one-stop financial asset building collaborative designed to improve the long-term financial stability of low-to-moderate income Delawareans. The grant was among 20 awards made by the trustees, totaling $1.9 million.
$tandByMe will provide a comprehensive continuum of services, from help with financial emergencies to pro-active empowerment strategies that foster financial self-sufficiency. Services will be provided in an array of locations, including Delaware State Service Centers and community centers, to facilitate access. $tandByMe will offer personal coaches to help clients engage with mainstream financial services, and assist with referrals to other community-based asset-building programs.
Using this approach, research suggests, clients are up to five times more likely to achieve a major economic outcome, United Way reports.
The Jessie Ball duPont Fund makes grants to more than 330 eligible organizations identified by Mrs. duPont in her will. The Fund has assets of more than $265 million and has awarded $291 million in grants since 1977.
Sherry Magill, president
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Mary Kress Littlepage, KBT & Associates
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