Achieving economic security in the Bay Area is challenging for low- and middle-income residents, and with SVCF's board of directors’ recent approval of 19 grants totaling $957,577 for local nonprofits, more families will benefit from high-quality financial education and asset-building support.
“Through these grants, we are proud to support nonprofit programs that assist families exploring key decisions and behaviors that positively contribute to family asset-building,” said Valerie Cuevas, senior program officer at SVCF. “These proactive approaches often open pathways to greater financial security.”
These awards are part of SVCF's strategic grantmaking to strenghten economic security of families in SIlicon Valley. For the 8 years that SVCF has supported economic security initiatives, our grants have helped ensure that over 15,000 individuals received financial education.
Notable projects receiving recent grants include:
Sacred Heart Community Services (awarded $65,000), Project Read – North San Mateo County ($45,000), and a number of other organizations awarded grants this round, will align financial education support with tax preparation services. Grantee organizations are reporting a lower number of individuals filing their taxes annually, citing the hostile political climate and continued threats to immigrant communities as reasons why. Not filing taxes disables families from receiving economic boosts available to them, such as the state and federal Earned Income Tax Credit.
Juma Ventures will deliver integrated, financial capability programing to empower low-income young adults to be capable in managing their financial lives. This organization will receive $25,000.
A new project awarded funding is Earned Asset Resource Network (EARN). EARN will receive $40,000 to launch SaverLife, a community campaign that combines EARN’s goal-based savings program, digital financial education and effective marketing and outreach strategies in San Mateo and Santa Clara counties.
Puenta De La Costa Sur will support the rural tax preparation and financial literacy program for agricultural workers and other low-income community members in San Mateo County, and will receive $30,971.