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(E-4) EARNINGS / FINANCIAL STABILITY Low-income, hard-working families build and sustain appreciating assets and are financially literate. In a single year, over 3,300 people built assets and gained financially literacy through United Way of Acadiana’s funded and direct service work.

Cover: Volunteer Income Tax Assistance (VITA) volunteers help qualified people in Acadiana at one of two Super Tax Days during the 2018 tax season.

PLAN OF ACTION FOR COMMUNITY TRANSFORMATION (PACT) UWA PROGRAMMING & PACT PARTNERSHIPS FOR EARNINGS United Way of Acadiana’s partnerships through PACT grants reached 81 people in Acadia, Lafayette, St. Martin, and Vermilion parishes. A total of $42,500 in PACT Grants supported three distinct programs, managed by three partner organizations. UWA strategically invests in programs that help individuals and families learn how to access the financial mainstream, create and maintain a household budget, and develop sustainable financial behaviors for increasing assets.

Together we can make change happen. #LIVEUNITED 4


Above: Kerry Stutes of ASSIST Agency in Acadia Parish greets a client, shot for the 2018 UWA Campaign video.

PACT SUCCESS STORY: ASSIST Agency Financial Counseling & Individual Development Account Program With financial counseling from ASSIST Agency, the Mitchells are further along on their debt free journey. Mrs. Mitchell is retired while Mr. Mitchell still works as a custodian in the public school system. As of September 2018, they have managed to save just over $3,000. They expect to reach their savings goal of $4,000 by December 2018. They plan to use the funds saved to make larger payments on their auto loan. By becoming debt free, they feel that they will have better resources to help support Mrs. Mitchell’s elderly mother.


INCENTIVIZED MATCHED SAVINGS United Way of Acadiana’s Incentivized Matched Savings (IMS) program is a high-impact, long-term engagement that empowers individuals to develop sustainable behavior change in their personal finances. The IMS program pairs a personal savings account with financial literacy content and personal coaching that enable low-to moderate-income families to save, build assets and enter into new opportunities. Enrollees strive to reach a savings goal of $1,500 or more in a 12-month timespan and their progress is monitored and facilitated by the personal financial coach who offers financial guidance and education twice each month to help them reach their goal. The Savings Match is an incentive that gives participants $1 for every $2 saved up to $4,000. This means participants can receive up to $2,000 deposited into their account at the end of the year. The program requires an initial deposit of $400 or more from their tax refund and additional monthly deposits of $25 or more. Successful participants must also demonstrate a sustained pattern of saving, with deposits for four consecutive months as a requirement for completion. There are no restrictions placed on the account used as participants have access to the funds in their account at all times. The Incentivized Matched Savings Plan allows tax filers who have saved money on tax preparation to increase their savings and move closer to their dreams.

IMPACT: IMS produced 10 graduates for the 2018 cohort. The class accumulated $35,032 in savings and was awarded $17,516 in matched funds. The average participant savings was $3,503.

IMS SUCCESS STORY: Michelle Cramer is a single mom originally from California employed as a Financial Aid Advisor for SLCC. Her dream is to become a homeowner which directed her program goal of saving for a deposit on the new home. Michelle progressed through the financial literacy curriculum and applied the lessons to supersede her 12 month savings goal of $4,000. She is now seriously shopping for a home thanks to United Way of Acadiana.


VOLUNTEER INCOME TAX ASSISTANCE United Way of Acadiana’s Volunteer Income Tax Assistance (VITA), sponsored by the Internal Revenue Ser vice (IRS), Entergy, Capital One and JP Morgan Chase provides free income tax preparation assistance to individuals and families at or below the 250% Federal Poverty Guidelines. VITA works to ensure clients receive all eligible tax credits and reductions, especially the Earned Income Tax Credit (EITC). Super Tax Day is a one-day blitz to reach segments that typically under-claim EITC, along with newly eligible taxpayers. As part of this event, 4 out of 5 people claim and receive the EITC.

UNITED WAY OF ACADIANA’S VITA PARTNERS: • Acadiana High School • ASSIST Agency • Northside High School 6 EARNINGS

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Iberia Parish Library SMILE Community Action Agency Sustainable Ag. & Rural Dev. Inst. St. Mary Community Action Agency

MONEY SMART M o n ey S m a r t i s a f i n a n c i a l e d u c a t i o n curriculum developed by FDIC to help low- and moderate-income individuals enhance their financial skills. The classes are taught by subject-matter expert volunteers from financial institutions, such as IBERIABANK, Regions and BancorpSouth.

RESULTS United Way of Acadiana has successfully served 280 working individuals and families with the facilitation of Money Smart from July 2017 to June 2018. These participants’ pretest scores averaged 60% while post-test scores averaged 75%. This is an improved test score of 15 percentage points!


Lafayette Sheriff’s Dept. Progressive Baptist Family Preservation Court Lafayette Parish Library North Regional Branch • Lafayette Career & Business Solutions Center Special appreciation to volunteer instructors loaned from IBERIABANK, Regions and BancorpSouth.

FAMILYWIZE FamilyWize augments current healthcare plans and often provides superior savings for the individual with the free FamilyWize Prescription Savings Card. The card is free to all consumers, insured and uninsured, and has an average savings of 43 percent. Since 2008, United Way of Acadiana has helped families across Acadiana save more than $800,000 by using the FamilyWize Prescription Discount Card.


GRANTS Between November 2017 and October 2018, the following grants supported our Earnings initiatives:

JP MORGAN CHASE BANK $100,000 to support IMS



$20,000 to support VITA

VOLUNTEER MOBILIZATION MONEY SMART More than 280 individuals received financial instruction through Money Smart classes. 16 volunteer instructors provided 70 hours of this financial instruction.

VITA 43 trained volunteers donated 3,923 preparing federal tax returns during the 2018 tax season.

I report compliance on E-4.

November 28, 2018 Margaret H. Trahan, President / CEO Date


Profile for United Way of Acadiana

Earnings End Report 2018  

Earnings End Report 2018