FFP to issue $550,000 in grants in 2023 to support pro bono financial guidance programs for Americans facing financial hardship
Washington, D.C., Jan. 25, 2023 (GLOBE NEWSWIRE) — Foundation for Financial Planning (FFP), a 501(c)(3) nonprofit organization dedicated to expanding access to pro bono financial planning for people in crisis or need, has announced that it will award grants to 18 nonprofit organizations around the country, each working to deliver pro bono financial planning to populations who could not otherwise afford or access services. Benefiting pro bono clients will include families affected by cancer, military veterans, active service members and their spouses, domestic violence survivors, and more. Together, these organizations will benefit from more than $550,000 in grants that FFP will issue in 2023.
This year, grant funds from FFP will support the following organizations:
- 3rd Decade in Tucson, AZ
- Apprisen in Gahana, OH
- Angel Foundation in Mendota Heights, MN
- Bedford Stuyvesant Restoration Corporation in Brooklyn, NY
- Britepaths in Fairfax, VA
- Capital Area Asset Builders in Washington, DC
- Consumer Bankruptcy Assistance Project in Philadelphia, PA
- Coordinated Assistance Network in Tampa, FL
- Family Reach in Boston, MA
- Financial Planning Association® (FPA®) in Denver, CO and selected FPA® Chapters
- Greater Washington Urban League in Washington, DC
- Local Initiatives Support Corporation (LISC) in New York, NY
- NCEF-NAPFA Consumer Education Foundation in Chicago, IL
- Prepare + Prosper in St. Paul, MN
- San Diego Financial Literacy Center in San Diego, CA
- Savvy Ladies in New York, NY
- Wings for Widows in Wayzata, MN
- Working in Support of Education (W!SE) in New York, NY
Among this group of notable organizations is first-time grantee, 3rd Decade, a nonprofit organization founded to provide financial education and conflict-free advisor services to young adults. 3rd Decade aims to equip participants of their programs with the knowledge, skills, and confidence to make the right financial decisions at various stages of their lives. This important work helps individuals overcome prevalent financial literacy problems including lack of financial preparedness, growing debt, and generational stressors.
“The 20s and 30s are critical decades for young adults to start planning and maximizing their future financial success,” says Joe’Mar Hooper, Executive Director of 3rd Decade. “The 3rd Decade Program provides financial education and pro-bono financial mentoring to equip young adults with knowledge and tools needed to be successful in securing their financial future and creating a positive ripple throughout their community.”
In 2023, FFP will also award its fourth annual Alexandra Armstrong Innovation Grant to Consumer Bankruptcy Assistance Project (CBAP). This special grant – named for longtime FFP supporter and trustee Alexandra Armstrong, CFP® – is presented annually to a nonprofit organization demonstrating remarkable creativity and impact in its programming. Armstrong received FFP’s first-ever Lifetime Achievement Award in 2019.
“Since 1992, CBAP has been focused on helping low-income Philadelphia residents gain a financial fresh start by providing Chapter 7 bankruptcy representation,” said Sherry Hoban, Executive Director. “However, for some clients, bankruptcy isn’t the best legal or financial solution. With this grant funding, CBAP will match clients who would not benefit from bankruptcy to CERTIFIED FINANCIAL PLANNER™ professionals to empower them in their financial futures.”
Continuing in 2023 will be a series of earmarked grants as part of FFP’s Communities of Color initiative, funded in partnership with BNY Mellon’s Pershing, which supports organizations focused on supporting low-income families in need, particularly families of color.
FFP will also maintain its longtime support of Family Reach and the Angel Foundation as part of its signature Pro Bono for Cancer effort, which supports pro bono financial planning services for cancer patients and their families. Since its inception, the Pro Bono for Cancer programs have served over 1,800 families via the volunteer efforts of 600 financial planners.
On January 15th, FFP opened applications for 2023 grants, with funding available in January 2024. Eligible 501(c)(3) nonprofit organizations are invited to apply by visiting FFPprobono.org/grants. The application process will close on April 30, 2023.
About the Foundation for Financial Planning
Foundation for Financial Planning (FFP) is the nation’s leading charity dedicated to advancing pro bono financial planning for at-risk populations, including active military members and wounded veterans, people with cancer and other serious medical diagnoses, seniors and family caregivers, low-income individuals and their families, domestic violence survivors and many more. Over its more than 25 years, FFP has provided $9 million in grants to national and community-based pro bono programs; worked with partners to activate more than 24,000 financial planners to volunteer their time and talents; reached over 600,000 people in crisis or need; and acted as a leader and catalyst to foster a rich tradition of pro bono service across the financial planning profession. Visit FFPprobono.org to learn more.
CONTACT: Jess Koslow FiComm Partners for FFP jess.koslow@ficommpartners.com
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