Neighborhood Allies Receives $50,000 from Annie E. Casey Foundation to Support Fund My FutureLeave a Comment
A $50,000 grant from the Annie E. Casey Foundation will support a joint effort with Propel Schools to expand its successful children’s savings program, Fund My Future, county-wide.
Fund My Future was created by Propel Schools four years ago and launched publicly in October 2017 to benefit all children, aged 0-18, in Allegheny County. Adults may open an account with a bank, credit union, or state 529 plan. When they link that account to Fund My Future on the online portal, they earn chances to win cash prizes with every deposit made. There are currently 2,811 active Fund My Future savers. 90 people have won a total of $4,500 since the launch.
Studies show that children with savings accounts are three times more likely to attend college and four times more likely to graduate. When families develop the habit of saving when their children are young, they create future-focused identity and hope.
The purpose of this grant is to assess the first two years of program expansion, connect the program to national initiatives, and position Fund My Future for additional growth. A complete list of financial and program supporters can be found here. This grant marks the first national philanthropic source for Neighborhood Allies.