The Requests for Proposals for Financial Literacy Services Program is an initiative by the City of Philadelphia's Department of Commerce, specifically the Office of Neighborhood Economic Development. This program aims to enhance household wealth and financial education while providing free financial services to low-to-moderate income households in designated neighborhoods. The grant opportunity is designed to support nonprofit organizations in delivering free tax preparation and financial literacy services, thereby contributing to the economic growth of families and business owners in the community.

The primary purpose of this grant is to increase access to financial education and tax preparation services for low and moderate-income individuals, including youth, adults, families, returning citizens, and business owners. The objectives include providing comprehensive financial education on topics such as budgeting, debt management, retirement savings, and investment education. Additionally, the program aims to assist individuals in accessing income supports and breaking down employment barriers. The grant also focuses on delivering free tax preparation services to eligible families, ensuring they can claim benefits like the Earned Income Tax Credit.

Funding for this program ranges from $100,000 to $500,000, with a total funding cap of $200,000 for all services combined. Each neighborhood can receive a maximum of $50,000 in funding. The grant activities must be conducted between December 1, 2024, and November 30, 2025. Organizations applying for the grant must demonstrate their ability to deliver services effectively within the eligible neighborhoods, even if they do not have a permanent presence there.

Eligible applicants include nonprofit organizations, small businesses, and educational institutions that can convincingly outline how they will serve residents in the specified neighborhoods. Organizations must have a defined outreach and marketing plan and demonstrate a clear understanding of the grant's mission. The program encourages creative approaches to financial education and tax preparation, allowing for varied methods and target audiences.

Submission requirements include a detailed proposal that outlines the organization's plan for implementing the funded activities. Applicants will need to answer specific questions related to their approach, target audience, and expected outcomes. The evaluation criteria will focus on the clarity of the proposal, the organization's capacity to deliver services, and the potential impact on the community.

The application process is open until September 30, 2024. Interested organizations are encouraged to review the full details of the grant opportunity on the City of Philadelphia's website. It is essential for applicants to adhere to the submission guidelines and deadlines to ensure their proposals are considered for funding. For further inquiries, applicants can contact the grantor via email.