Monday, September 20, 2010

Grants & Technical Assistance for Nonprofit Led Projects Teaching Under-Served How to Better Manage Finances

From The Foundation Center...

[If you are interested in more information about this grant opportunity, click "Link to Complete RFP" at the end of this blog post.]

Deadline: October 13, 2010

Center for Financial Services Innovation Launches New Grant Fund to Promote Financial Capabilities Among Underserved Consumers

The Center for Financial Services Innovation, (CFSI) which works to address the needs of lower-income, "underbanked" consumers, has launched the Financial Capability Innovation Fund to provide grants and technical assistance to promising nonprofit-led projects designed to help consumers better manage their finances and achieve financial prosperity.

Through a competitive Request for Proposals process, CFSI will award a total of up to $1.5 million to four to six nonprofit-led projects. The fund seeks to support innovative projects that are relevant, timely, actionable, ongoing, and scalable.

Specifically, the fund is looking for educational projects focused on behavioral changes, which ultimately result in measurable, improved outcomes for lower-income, underbanked consumers. Examples include improved credit scores, increased savings, and avoidance of unnecessary transaction fees.

The average award size will be in the range of $200,000 to $300,000 per project. In addition to financial support, CFSI will provide several forms of non-financial support to ensure the success of the selected projects.
For more information on the fund and to download the complete Request for Proposal (RFP), visit the CFSI Web site.

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