FFP to issue more than $400,000 in grants during its 25th anniversary year
Washington, D.C., Feb. 19, 2020 (GLOBE NEWSWIRE) — The 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 15 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.
In 2020, grant funds from the Foundation for Financial Planning will support the following organizations:
- Angel Foundation in Mendota Heights, MN
- Atrium Health’s Levine Cancer Institute in Charlotte, NC
- Bedford Stuyvesant Restoration Corporation in Brooklyn, NY
- Britepaths (formerly Our Daily Bread, Inc.) in Fairfax, VA
- CASH Campaign of Maryland in Baltimore, MD
- Consumer Education and Training Services (CENTS) in Seattle, WA
- Family Reach in Boston, MA
- Financial Independence Training, Inc. (FIT) in La Mesa, CA
- Financial Planning Association® (FPA®) in Denver, CO and selected FPA® Chapters
- Kentucky Coalition Against Domestic Violence in Frankfort, KY
- NCEF-NAPFA Consumer Education Foundation in Chicago, IL
- Prepare + Prosper in St. Paul, MN
- Sage Financial Solutions in San Francisco, CA
- San Diego Financial Literacy Center in San Diego, CA
- YWCA Evanston/North Shore in Evanston, IL
Among this group of notable organizations are five first-time grantees, including Prepare + Prosper, which will work with the FPA of Minnesota to boost the integration of financial planning within its continuum of financial care model, helping its customers more effectively build long-term financial well-being.
“I’ve seen one-on-one financial planning add value to the lives of families in three primary ways,” said Steve Gilbertson, CFP®, a member of FPA of Minnesota and a long-time volunteer with Prepare + Prosper. “First, it helps customers gain basic financial information and tools, and secondly contributes to creating a path forward in working toward their personal financial goals. Finally, working with a Certified Financial Planner™ creates hope that they can truly achieve their goals – an energy that allows people to move forward in an inspired way.”
A pro bono client of repeat FFP grantee, Britepaths, further underscored the impact of working with a CFP® professional. “Thanks to my financial mentor,” she says, “I have been able to save over $800, pay off most of my debt, and gain knowledge of how important it is to maintain a good handle on my finances. I will continue to use what I have learned to become debt free and stay that way.”
This year, FFP will also award its inaugural Alexandra Armstrong Innovation Grant to Sage Financial Solutions (SFS). This special grant – named for longtime FFP supporter and trustee Alex Armstrong – will be awarded annually to a nonprofit organization demonstrating remarkable creativity and potential impact in its programming. Armstrong received FFP’s first-ever Lifetime Achievement Award in 2019.
“We have a great group of grantees this year, each contributing to our mission to expand access to pro bono financial planning programs for people in need,” explained FFP’s CEO Jon Dauphiné. “Our first Alexandra Armstrong Innovation grantee, Sage Financial Solutions, will have an especially strong impact on low-wage workers who are often reluctant to save for retirement when their day-to-day financial stability is so tenuous. These pro bono clients will be connected to financial advisors to gather information and advice on how to effectively use California’s state-sponsored retirement saving system, while still balancing daily expenses. FFP is proud to support this program and others that will help hardworking people set goals for the future and gain the confidence to stick with them.”
Dauphiné also noted that four of the 2020 grant recipients are part of FFP’s signature Pro Bono for Cancer effort, which funds pro bono financial planning services for cancer patients and their families. “FFP’s financial planner volunteers continue to show an extraordinary level of interest in our work with families affected by cancer,” says Dauphiné. “Since its inception, the campaign’s funded programs have served over 600 families via the efforts of over 200 financial planners. This year, we expect to more than double the number of families served, ensuring that more people have the support they need to manage the complex and often overwhelming financial burden that comes with a serious cancer diagnosis.”
In addition to Family Reach, CENTS, and Atrium Health’s Levine Cancer Institute, a new grantee – the Angel Foundation – will contribute to these efforts. “In the last few years, as health care costs have increased, we have seen a growing number of individuals needing longer-term help, not just immediate financial support,” says Dave Becker, President of the Angel Foundation. “We are proud to partner with FFP to establish a groundbreaking pilot program using financial and health education to combat cancer-related financial toxicity.”
Together, these organizations will benefit from more than $400,000 in grants that FFP will issue in 2020. FFP also announced last month that it has opened applications for 2021 grants, which will support qualified programs with funding available in January 2021. Eligible 501(c)(3) nonprofit organizations are invited to apply by visiting foundationforfinancialplanning.org/our-work/grants/. The application process will close April 30, 2020.
About the Foundation for Financial Planning
The Foundation for Financial Planning is a Washington, DC-based 501(c)(3) charitable organization, solely devoted to supporting the delivery of pro bono financial planning to 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. Dedicated to powering pro bono financial planning, FFP has provided close to $8 million in grants to national and community-based pro bono programs; worked with partners to activate more than 22,000 financial planners to volunteer their time and talents; and acted as a leader and catalyst to embed a rich tradition of pro bono service across the financial planning profession. Visit FoundationForFinancialPlanning.org to learn more.