Foundation Communities’ One-stop Financial Center Julian Huerta, Deputy Executive Director...
-
Upload
arnold-blair -
Category
Documents
-
view
212 -
download
0
Transcript of Foundation Communities’ One-stop Financial Center Julian Huerta, Deputy Executive Director...
![Page 2: Foundation Communities’ One-stop Financial Center Julian Huerta, Deputy Executive Director Julian.huerta@foundcom.org.](https://reader035.fdocuments.us/reader035/viewer/2022081603/56649e7c5503460f94b7d9ec/html5/thumbnails/2.jpg)
Foundation Communities:
• Founded in 1989 in Austin• 17 properties with more
than 2,500 units in Austin and North Texas
• Extensive on-site supportive services for residents
• Financial Programs serve more than 25,000 families
![Page 3: Foundation Communities’ One-stop Financial Center Julian Huerta, Deputy Executive Director Julian.huerta@foundcom.org.](https://reader035.fdocuments.us/reader035/viewer/2022081603/56649e7c5503460f94b7d9ec/html5/thumbnails/3.jpg)
Chronology of Financial Stability Programming
1998
• IDAs• Financial Literacy• Home Buyer Education
2004
• SEED
2005
• Community Tax Centers
2006
• ITIN Acceptance• Opening Bank Accounts
2008-09
• Financial Coaching
2010
• CFC Opens• Benefits Screening• Alt RAL/Prepaid Debit Cards
2011
• Savings Bonds• Small Business Coaching• Scholarship Mentoring
2012
• Child Support for College• Payday Loan Alternatives
![Page 4: Foundation Communities’ One-stop Financial Center Julian Huerta, Deputy Executive Director Julian.huerta@foundcom.org.](https://reader035.fdocuments.us/reader035/viewer/2022081603/56649e7c5503460f94b7d9ec/html5/thumbnails/4.jpg)
Creating a One-stop Financial Center
• Primary objective: expand focus from just tax prep• Wanted highly visible year-round location with easy
access for clients• Chose stand-alone model• Include key partners throughout the year
![Page 5: Foundation Communities’ One-stop Financial Center Julian Huerta, Deputy Executive Director Julian.huerta@foundcom.org.](https://reader035.fdocuments.us/reader035/viewer/2022081603/56649e7c5503460f94b7d9ec/html5/thumbnails/5.jpg)
The Community Financial Center
Services offered at theCommunity Financial Center
ITIN Acceptance
Agent
FAFSA Preparation
Tax Preparation
Small Business Coaching
ScholarshipMentoring Savings
BondPromotion
FinancialCoaching
FinancialEducationClassesPayday Loan
Alternatives
![Page 6: Foundation Communities’ One-stop Financial Center Julian Huerta, Deputy Executive Director Julian.huerta@foundcom.org.](https://reader035.fdocuments.us/reader035/viewer/2022081603/56649e7c5503460f94b7d9ec/html5/thumbnails/6.jpg)
FC’s Community Financial Center
• Tax prep is the primary gateway for clients
• Referrals come from all over, especially 211
• Combination of appointments and walk-ins
• Paid staff plus lots of volunteers• Training for staff, volunteers and partners throughout
the year
![Page 7: Foundation Communities’ One-stop Financial Center Julian Huerta, Deputy Executive Director Julian.huerta@foundcom.org.](https://reader035.fdocuments.us/reader035/viewer/2022081603/56649e7c5503460f94b7d9ec/html5/thumbnails/7.jpg)
Key Metrics and Outcomes: 2012
• More than 17,000 tax returns (6,500 at CFC)• $30 Million in refunds• 685 clients purchased Savings Bonds• 1029 FAFSAs completed• 363 clients in Financial Coaching• More than 200 completed Financial Education • 58% of financial coaching clients increased their
credit score after 6 months• 64% of financial education graduates increased their
savings
![Page 8: Foundation Communities’ One-stop Financial Center Julian Huerta, Deputy Executive Director Julian.huerta@foundcom.org.](https://reader035.fdocuments.us/reader035/viewer/2022081603/56649e7c5503460f94b7d9ec/html5/thumbnails/8.jpg)
Budget/Sustainability
• Annual Budget for FC Financial Stability programs: $1 million.
• Most of this spent at or through our Community Financial Center
Key Funders:• City of Austin• United Way for Greater Austin• Michael and Susan Dell Foundation• IRS/VITA