HomeBOOST is a financial security ecosystem that brings financial coaching services to individuals experiencing housing insecurity, and supports housing nonprofits to sustainably embed financial security strategies into their existing programs and services. Launched in October 2019, HomeBOOST is expected to reach 2,000 individuals and build the capacity of up to ten participating organizations to deliver similar coaching services in the future.
People experiencing housing insecurity and homelessness often require public benefits and assistance from the nonprofit sector, and may be less equipped to save and invest in the future. In addition, they are more susceptible to the stressors of relocation and inadequate transportation, such as lack of access to good jobs. While the nonprofit sector is committed to solving the problems of housing insecurity and affordability, integrated financial security strategies can equip practitioners to address their customers’ underlying financial insecurities and accelerate housing outcomes. By building a financial security ecosystem with housing partners, the Clinic aims to reduce recidivism in community programs and shelter systems, and advance broader systemic issues like closing the racial and gender wealth gaps.
As part of HomeBOOST, the Clinic will:
Train housing practitioners at partner sites to identify financial insecurities among their customers and provide critical supports, such as creating spending plans, calculating financial transaction costs, referring customers for free tax preparation services, pulling credit reports, and organizing debt;
Lead partner sites in a series of organizational development workshops designed to embed financial security strategies into each organization’s program model, and track project data to inform long-term policy solutions for homeless and housing insecure individuals; and
Assign a full-time financial coach to support each of the organizations by working with individuals to achieve more aggressive financial security outcomes, such as reducing debt, improving credit scores, and saving consistently.
The Clinic is accepting Letters of Interest on a rolling basis from housing nonprofits based in San Diego, Los Angeles, San Francisco, and Sacramento, CA; Seattle, WA; and Washington D.C. Click here to complete a Letter of Interest, or email email@example.com to learn more about how your organization can get involved.
HomeBOOST is made possible by a generous grant from Wells Fargo.
The Financial Clinic’s mission is to build working poor people’s financial security 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.
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