Mission: The Financial Clinic’s mission is to build working poor peoples' financial security. The Clinic fulfills its mission through an ecosystem of strategies that includes direct service, capacity building with other nonprofits and systems-level solutions and social innovations to create lasting change. The Clinic works toward its vision of a nation where everyone is financially secure by transforming lessons learned on the ground into large-scale, systems-level solutions and social innovations like Change Machine that impact working poor people nationwide.
Results: After 11 years, The Financial Clinic has demonstrated a “gold standard” model for building financial security for working poor families. A high-performing organization with a focus on results, the Clinic has put over $50 million back in the pockets of more than 40,000 customers, supported more than 345 organizations in 26 states embed financial security actions into their program models, and successfully launched several policy campaigns in support of working poor families. A landmark national study shows the Clinic’s model of financial coaching helps working poor families move toward financial security.
Target demographics: The one-in-three working American households who are supported by full-time workers with earnings below 200 percent of the Federal Poverty Level
Direct beneficiaries per year: over 2,000 financial coaching customers, over 5,000 file taxes for free, over 10,000 customers served using Change Machine, 112 new organizations receiving capacity building support
Geographic areas served: New York City and across the country
Programs: One-on-one financial coaching, free VITA tax preparation, capacity building for nonprofits who wish to integrate financial security building strategies into their work, and forming coalitions to impact policy change
Mae Watson Grote and her team continually deliver on their vision of understanding and addressing the financial needs of low income households. The Financial Clinic collaborates effectively with many organizations to identify the core issues and provide solutions and assistance in a sustainable way -so critical to altering the course. The team at the Financial Clinic is passionate and committed to their goals and know that they have and continue to make a difference.