The merger of two nonprofits that promote financial opportunities for low-income residents has been kick-started with a $200,000 funding grant.
The CASH (Creating Assets, Savings & Hope) Campaign of Maryland was recognized as a 2017 Neighborhood Builder by Bank of America, which announced the funding commitment at a Monday night reception at the Reginald F. Lewis Museum of Maryland African American History & Culture.
CASH Campaign of Maryland came together after officials at Maryland CASH Campaign and Baltimore CASH Campaign decided that combining their efforts would create a more powerful organization capable of helping more people.
“I started as a tax volunteer with Baltimore CASH 16 years ago. It’s incredible to see the growth and impact they have had on the financial security of Baltimore residents. I’m thrilled to join together Baltimore and Maryland CASH into a new organization to help even more Baltimore City residents achieve their financial dreams,” said Robin McKinney, co-founder and chief executive officer, CASH Campaign of Maryland.
The new organization plans to:
- Provide free volunteer income tax assistance to help low-income individuals and families file tax returns, avoid predatory fees and claim the Earned Income Tax Credit;
- Coordinate and expand access to free, fact-based financial education and coaching;
- Connect low-income individuals and families to high-quality financial services and products;
- Recruit, train and manage a corps of volunteers;
- And lead a network of direct service providers that offer free tax preparation, financial education and coaching, benefits screening, and access to appropriate financial services.
The Neighborhood Builders program seeks to improve communities by advancing economic mobility through workforce development, community development and basic needs. This philanthropic program combines leadership development resources with $200,000 of flexible funding.
Since 2004, Bank of America has invested $220 million in nearly 1,000 nonprofits and nearly 2,000 nonprofit leaders across 45 U.S. communities. Past recipients include the Urban Alliance and Lighthouse Inc.