Silicon Valley Community Foundation Awards $1 Million to Help Area Residents Build Assets
March 10, 2009 — The Silicon Valley Community Foundation has announced seven grants totaling $934,000 to create and expand financial education programs that will help lower-income residents in San Mateo and Santa Clara counties build financial assets for the future.
The grants will be used to help expand the number of groups providing asset-building assistance and ultimately increase the number of individuals who receive financial education and coaching on how to claim earned income tax credits and open savings accounts. The awards include $179,000 to EARN for training related to behavioral changes that can help people save money; $175,000 to the Corporation for Enterprise Development to help launch a new online marketplace where donors can contribute to matched savings accounts for area residents; and $122,000 to Project Read to expand its literacy program by including financial assessments, monitoring, and coaching.
