Indianapolis Financial Capability Pilot Gains Momentum
Prosperity Indiana is pleased to announce an award of $30,000 from The Glick Fund, a fund of Central Indiana Community Foundation (CICF), to support the Indiana Assets & Opportunity Network (Indiana A&O Network) in establishing its Financial Capability Learning Cluster.
The Indiana A&O Network is a statewide coalition aiming to increase asset acquisition for low-wealth Hoosiers and to strengthen local economies through policy advocacy and capacity building, in partnership with local organizations and coalitions. Founded in 2014, the Indiana A&O Network has identified a lack of access to financial planning resources as a major obstacle to achieving financial stability. Integrating financial capability – understood as knowledge + skills + access – into existing programs may be the best way to provide the needed intervention.
The investment of resources from the Glick Fund will allow the Indiana A&O Network to deliver technical assistance to five Indianapolis organizations: Connected by 25, Families First, Dress for Success, EmployIndy, and Coburn Place. Each organization will identify at least one existing program into which they will directly integrate financial capability discussions, resources, and tools, instead of creating a standalone program.
During the project-based Learning Cluster pilot, organizations will participate in facilitated workshops and peer learning activities. Each organization will assess current clients’ financial capability, the services currently provided to meet the needs of clients, and the tools and mechanisms that can be incorporated to maximize outcomes for clients. Based on these assessments, the programs will be adapted to further meet the goal of helping families achieve financial security.
Kelsey Clayton, Indiana A&O Network Manager, said, “The integration process will not be reiterating what the organizations already know, but instead challenging assumptions they may have about their clients in order to improve services and empower clients to make the best financial decisions for themselves and their families.”
The Glick funding is being utilized in conjunction with $45,000 received in June 2016 from the Indianapolis Foundation, an affiliate of CICF. A portion of the funding will support the Learning Cluster participants once they successfully integrate financial capability services into their programs. They will each receive a $5,000 grant to their organization to help offset the cost of their time to catalyze new thinking and ways of doing business.
For those interested in learning more about this or other initiatives of the Indiana A&O Network, become a Network partner by signing up for Earn, Save, Invest, the Network’s monthly e-newsletter, and visit indianaopportunity.net. Indiana A&O Network partners play an active role in supporting, advocating, and helping to expand asset-based strategies in Indiana.
ABOUT THE INDIANA ASSETS & OPPORTUNITY NETWORK:
The Indiana Assets & Opportunity Network aims to increase asset acquisition for low-wealth Hoosiers and to strengthen local economies through policy advocacy and capacity building, in partnership with local organizations and coalitions. It is co-led by Prosperity Indiana, which is a member organization skilled at coalition building and connected to local Indiana communities, and the Indiana Institute for Working Families (IIWF), skilled in research, policy analysis, and advocacy. The Indiana A&O Network is the state lead for Washington D.C.-based Prosperity Now Assets and Opportunity Network.
ABOUT THE GLICK FUND:
The Glick Fund is a donor-advised fund of the Central Indiana Community Foundation. It was established by Eugene and Marilyn Glick in 1998 to support a variety of causes. Grants are awarded by invitation only, with no unsolicited grant applications accepted.
The Glick Fund also strives to align with CICF’s three broader community leadership initiatives of: Family Success & Making Connections; Inspiring Places; and College Readiness & Success – initiatives aimed at making central Indiana one of the best places in the nation to live, work and raise a family.
To date, The Glick Fund has awarded over $55 million in grants to not-for-profit organizations. Recent grant recipients include the Indianapolis Cultural Trail, the Glick Center for Glass at Ball State University, Heartland Truly Moving Pictures, the Eugene and Marilyn Glick Indiana Authors Award, Providence Cristo Rey High School and United Way of Central Indiana, among many other organizations. For more information, please visit cicf.org.
ABOUT CENTRAL INDIANA COMMUNITY FOUNDATION:
Central Indiana Community Foundation (CICF) is a $700+ million public foundation transforming the lives of central Indiana residents in three ways: consulting donors, family foundations and their professional advisors on charitable giving; awarding grants to effective not-for-profit organizations; and providing leadership to seize opportunities and address community needs. CICF was established in 1997 as a partnership between The Indianapolis Foundation, serving Marion County since 1916, and Legacy Fund, serving Hamilton County since 1991.