November 8, 2010
The Harvest Foundation has awarded a $179,846 grant to the United Way of Henry County and Martinsville for its HOPE Initiative.
The three-year grant will help HOPE (Helping Others Progress Economically) develop a Financial Stability Council to continue its work to reduce the number of local families that are financially unstable, according to a news release from Harvest.
The council will be made up of representatives from banks, employers and agencies that provide emergency assistance to families. Its members will work together on how to help local families decrease their debt and increase their savings, the release said.
“We are excited and energized at the opportunity that lies ahead,” stated Tiffany Haworth, director of capacity/resource development at the United Way. “During these unprecedented economic times, this grant allows us to expand our financial education and assist families as they work to break the cycle of poverty.”
For several years, HOPE has successfully provided financial literacy to low-income families and individuals as well as to youth. Its Volunteer Income Tax Assistance (VITA) program has allowed families that earn less than $45,000 per year to file their income taxes without having to pay preparation fees or take out loans to receive their returns, thus saving them money.
“Now, more than ever, it is critical that families in our community use their often limited resources to meet their current needs and plan for the future,” Angela Logan, Harvest program officer, said in the release. “The financial literacy and education by the HOPE Initiative will allow our residents to do just that, bringing them yet one step closer to financial stability.”
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