This recent case study from Tamarack shows how financial empowerment strategies can play a powerful role in poverty reduction.
Evaluation results from 2017 included:
- 1,534 Calgarians living on low incomes received community supports for basic needs,
with $1,105,688 provided to individuals and families facing a financial crisis.
- 71 agency staff were trained to coach individuals experiencing financial stress.
- 587 tax clinics were held in the community, led by 857 trained volunteers.
- 8,445 tax returns were filed through tax clinics, resulting in $3,721,649 in tax refunds
for Calgarians living on low incomes.
- 143 front-line staff across 17 partner agencies supported Calgarians living on low
incomes to open 961 new RESPs for their children.
- 311 people living on low incomes participated in a matched savings program, with
$403,542 from these funds put toward purchasing a financial asset.
Do you have examples of financial empowerment strategies that are working in your community?