Envisioning a Lasting Financially Secure World: March 2017

In This Issue: The Big Picture

With the launch of WorkBOOST NYC’s second year, we look towards lasting change through policy work and recommendations for the field. Then, we take a moment to celebrate Women’s History Month, and a last call for tax preparation!

It has been over a year since Urban Institute released the results of a random control trial proving the Clinic’s financial coaching model works. What has happened since then? Check out our new blog post and video – more info in the social spotlight below!

The Future of Financial Security and Workforce Development

The launch of The Financial Clinic's WorkBoost NYC for it's second year.

The launch of The Financial Clinic’s WorkBoost NYC for it’s second year.

On Tuesday, March 21, the Clinic celebrated the launch of WorkBOOST NYC‘s second year, hosted by JPMorgan Chase & Co., presented in an hour-long “master class” discussing the successes from the first year and what they mean for the fields of financial security and workforce development, and the future of jobseekers across the country. To learn more, download the WorkBOOST NYC Practice Brief, Policy Platform, and workforce development Practitioner Tool, “Envisioning My Goal.” Plus, join the Clinic for three complimentary virtual trainings specialized for workforce development practitioners on April 20, April 27, and May 4.

“This is catching on! We’re building a broad base of support, and for that, we couldn’t be more thankful. We’re really committed to getting everyone to this table – philanthropy, intermediaries, policy makers, researchers, practitioners – because our vision is to ensure financial security is sustainable at the field level. And so it’s our hope that WorkBOOST’s greatest impact will be making financial security normative for the workforce development field far beyond this initiative.”
– Mae Watson Grote, Clinic Founder and CEO

Visit the WorkBOOST NYC webpage for more!

The Clinic is grateful to JPMorgan Chase & Co., the Altman Foundation, the Ira DeCamp Foundation, Robin Hood Foundation, and Tiger Foundation for generously supporting WorkBOOST NYC Cohort 2.

Ode to Nonprofit Women

The "Fearless Girl" on Wall Street, NYC

The “Fearless Girl” statue was installed on the eve of International Women’s Day calling attention to the lack of gender diversity on corporate boards and the pay gap of women working in financial services. Her inscription reads, “Know the Power of Women in Leadership.”

In the early hours of Tuesday, March 7, the “Fearless Girl” statue was installed, just in time to proudly face down the “Charging Bull” of Wall Street on International Women’s Day – her inscription reads, “Know the Power of Women in Leadership.” She was commissioned by State Street Global Advisors as a tangible way to advocate for increased inclusion of women on boards and in leadership roles – an inequality we are all too aware of with less than 9% of women in top leadership positions and only 12% holding positions on corporate boardsLeadership in the nonprofit sector is more promising yet has plenty of room for improvement, with 45% of women in the top positions.

However, the statistic we are celebrating this month is nearly 75% of nonprofit employees are women! We are grateful to each and every one of you – your passion, innovation, and tireless efforts to make the world a better place.

Here at the Clinic, we gain daily inspiration from our customers, 60% of whom are women, including survivors of domestic violence, single mothers, and household breadwinners. We are proud to have staffing to match: 60% of our staff and board are women, not to mention our powerful Founder and CEO, Mae Watson Grote.

Join us as we continue empowering low-income women and their families to financial security. 

T-Minus Tax Time

A Clinic financial advisor assisting a client with tax preparation.

A Clinic financial advisor assisting a client with tax preparation.

April 18 is right around the corner, make sure you and your customers don’t pay more than you need to file:

  • Find a Volunteer Income Tax Assistance (VITA) or Tax Counseling for the Elderly (TCE) program near you. Sign-up for a Clinic VITA site across NYC, or use the IRS Locator Tool
  • United Way and H&R Block have partnered to offer myfreetaxes.com, free online tax preparation for anyone making less than $54,000 a year
  • The IRS has compiled a list of free file software for your federal taxes

Prepare in advance with this checklist of documents to bring to your tax appointment!

Social Spotlight: The RCT

A random control trial (RCT) is an enormous undertaking, but from the perspective on the other side of the finish line, having the opportunity to optimize a program based on the results is priceless. Clinic CPO, Haidee Cabusora, explains the common barriers nonprofits face when implementing an RCT and some of the ways the Clinic was able to overcome them in a new blog post. Then, see the human side of the RCT in a video featuring two of the Clinic’s financial coaches!

Follow the Clinic on Facebook and Twitter to catch all the latest news and posts!

Learn how the Clinic Solved common financial barriers.

From our Facebook Feed.

From The Financial Clinic Facebook feed.

The Clinic Across the Country Speaking Engagements and Presentations

The Clinic staff have been busy, offering their expertise at various conferences and presentations. A selection of recent appearances include:

  • Chief Program Officer, Haidee Cabusora, joined REDF for a webinar on Thursday, March 23 – “Building Financial Capabilities for Social Enterprise Employees.”
  • The Clinic was featured in a new brief by the Center of Financial Security (CFS), “Creating a More Inclusive and Accessible Financial Coaching Program: A Case Study Exploration of Strategies and Recommendations.”