Financial Security

Program Name: VITA- Free Tax Preparation
Award Amount: $35,000

CEDC plans to continue the VITA (Volunteers in Tax Assistance) program. VITA brings tangible benefits to support financial stability for working families and low-income elders. This year we assisted 1412 families with free tax preparation resulting in 3.5 million dollars in total tax refunds. We will build on the progress from 2023-24 and in 2024-25, CEDC intends to file 1600 tax returns as part of the VITA program from January to April. After the tax season, CEDC acts as a resource, especially to non-English speakers to troubleshoot issues with refunds, filing amended returns, translating correspondence from the IRS and Mass Dept. of Revenue, and referral to the IRS Tax Advocate. We intend to work with 650 follow up year round cases after tax season. The VITA program also enables many low-income elders to continue to age in place by benefiting from up to $2590 in the Massachusetts Senior Circuit Breaker Credit. In addition there is a new $300 state credit Mass residents who care for dependents. We helped 201 of these low-income non-filer elders and parents to benifit from these tax credits. CEDC links taxpayers to other CEDC financial capability opportunities offered in Spanish such as Financial Literacy for Newcomers workshops, we hold a series of two of these workshops annually. CEDC also assists with Health Insurance applications, and access to primary care.

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Program Name: Money Management Program
Award Amount: $25,000

Coastline's Money Management Program (MMP) serves 23 Bristol County communities and three in Plymouth County, offering financial assistance through two components: Bill Payer and Representative Payee. The free Bill Payer program enlists trained volunteers to help older adults manage finances, such as budgeting and bill payments, while maintaining their decision-making authority. Representative Payee assists clients unable to manage their finances independently, typically referred by Protective Services, with Social Security-mandated fees covering its costs.

Funded primarily by state legislation under the Protective Services Bill, MMP collaborates with Social Security, Bristol Elder Services' Protective Services, and other agencies. Since 1994, it has supported individuals over 60 at risk of losing independence or housing due to financial challenges. Despite growing demand, funding has declined. The program safeguards seniors against financial exploitation while protecting their dignity and privacy.

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Program Name: PACE YouthBuild
Award Amount: $25,000

The Blueprint to Financial Literacy is in it's 6th year and teaches our PACE YouthBuild members financial literacy skills, financial capability awareness, has members open traditional bank account and encourages a 20% weekly savings of their stipend to build financial stability. The grant provides a saving match, up to $1,000 upon graduation. Through helping our young people establish a baseline financial literacy, we begin to develop financial capability and the ability for financial stability in adulthood.

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Program Name: Roadmap to Financial Stability through Support and Education
Award Amount: $20,000

Turning Point is a nonprofit organization dedicated to empowering individuals facing homelessness or near-homelessness through innovative, respectful, and educational services. Its Roadmap to Financial Stability guides clients from crisis to financial stability via intake appointments, education, referrals, and secure housing.

Volunteers play a crucial role, with 11 Intake Specialists, 5 Operational Support volunteers, and a part-time Executive Director. The organization prioritizes financial literacy to help clients achieve independence, addressing challenges like budgeting and navigating financial systems.

In 2024, an Impact Grant will fund an in-house financial literacy program, featuring a classroom with computers and tablets for client use. The program will support clients with cultural and cognitive barriers, helping them overcome challenges such as lease agreements or loan applications, ultimately fostering self-sufficiency and reducing reliance on Turning Point’s services.

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