Last month the
Twin Cities branch of LISC, which mobilizes corporate, government, and philanthropic support for local community development organizations, announced it was giving out $705,000 to a handful of local nonprofits to grow what it calls Financial Opportunity Centers. (LISC is a sponsor of
The Line.)
The Twin Cities recipients include
CommonBond Communities,
Communidades Latinas Unidas En Servicio,
Emerge Community Development,
Lutheran Social Services, and
Project for Pride in Living, according to information from Twin Cities LISC.
The financial opportunity centers take a bundled approach with financial coaching, employment, and training that goes beyond job placement, according to Andriana Abariotes, who is the Twin Cities LISC executive director.
Two of the nation's 33 Financial Opportunity Centers were piloted in the
Twin Cities in 2007 through the East Side Lutheran Services and the
Project for Pride in Living.
"It's not about the basic need of a job but issues of budgeting and financial aspirations," such as owning a house or starting a business, she says.
Someone who already has a job but wants to find a career path out of an entry-level job could come to one of the centers to get help. Staffers also work to ensure that people are taking advantage of various kinds of government assistance that they may qualify for, such as low-income tax credits and food stamps.
On the other end, "It's an opportunity for trusted community organizations to work in a longer-term way" with people with whom they've already built relationships, she says, adding that the centers will track results.
Nearly half of the grant money comes from the federal
Social Innovation Fund that directs public and private funds to "expand effective community solutions related to economic opportunity, healthy futures, and youth development and school support," according to a prepared statement from the organization.
Funds will begin to trickle in next month while the program officially launches in April, according to Abariotes.
Source: Andriana Abariotes, Twin Cities LISC executive director
Writer: Anna Pratt