An innovative partnership between Citi Foundation and NeighborWorks America committed to expanding the capacity of nonprofits to provide financial coaching to low- and moderate-income Americans, successfully completed its demonstration phase at the end of 2012.
This exciting joint initiative among NeighborWorks Center for Homeownership Education, National Homeownership Programs, and Success Measures, introduced NeighborWorks’ newly-developed financial capability curricula and evaluation tools to more than 400 practitioners, through NTIs and place-based trainings. In addition, over the course of the two-year, $5 million demonstration, 30 organizations from across the country received intensive training and technical assistance to implement financial capability programs, using Success Measures financial capability indicators and data collection tools, to evaluate the impact on clients.
The demonstration cohort came together for a final peer convening, held during the DC NTI in December, which provided an opportunity for practitioners to share their experiences with one another and celebrate the completion of this intensive endeavor. Participants reported that the training and technical assistance offered through this project considerably strengthened their financial capability programs and resulted in clients showing significant improvement in many aspects of their financial well-being. A comprehensive report being prepared for a March 2013 release will document the findings from the demonstration, contributing to the body of knowledge within the broader financial coaching field.
A second phase of the Financial Capability Project is also expected to launch in March. This phase will focus on expanding NeighborWorks financial capability training opportunities, scaling up the reach of Success Measures Financial Capability tools, and engaging policy and other thought leaders in helping to advance this work nationwide.