Helping Small Business Owners Succeed! The Midas Collaborative’s Small Business Matched Savings Program has served over 300 low income entrepreneurs, with 89% graduating or still active within the program. The unique program offers dedicated savings accounts, financial education, small-business training, and matching funds. Participants are able to expand their business with equity, not debt, as well increase their income and net worth. Read more from our longitudinal study.
Building Financial Confidence! Nearly 400 residents have boosted their financial capability through our MassSaves Financial Confidence and Coaching Program since it's inception in 2013. See our latest Impact Report here. Through the program, we've increased our reach of isolated residents! Read about our approach in “What Do We Mean by Financial Coaching?”.
Investing in College Success! Over 1,100 students to date have boosted their financial capabability at three Massachusetts community colleges through the Invest In College Success pilot. Check out the current progress report on the innovative private-public partnership focused on boosting personal finance for students.
High return on public investment! For every dollar in state funds expended in the Midas matched savings program, $64 in local investment was made and 43¢ in property taxes to support cities and towns. See related program evaluation here. See our latest Impact Report here.
Increased personal savings! As of the end of 2016, over 1500 low/moderate income savers have banked $1.9 million in personal savings, and have been matched with $2.6 million from Midas donors, and state & federal programs. See our latest Impact Report here.
Leading for the kids! Midas members worked with partners to pass the first state-funded pilot program to assist 10 high schools in the Gateway Cities to integrate financial education in the high school curriculum.Calls, visits, and letters from Midas members to state legislators resulted in a state-supported pilot program to provide financial education public schools in 10 Gateway Cities across the state. See our latest Impact Report here.
Economy Stimulated! As of the end of 2016, over 1500 matched savers have saved money, increased their financial skills, received a match, and invested in over $42 million in first homes, small businesses, post-secondary education, and more into the Massachusetts economy. See our latest Impact Report here.
Solutions Proposed! In a report "Enhancing Financial Stability in Hampden County" Midas provided community research and recommendations for economic stability in Western Mass. See the full report here.
Got the Word Out! Over 80 thousand low and moderate-income Mass residents in Gateway Cities and Boston neighborhoods received important consumer-protective, multilingual, Massachusetts-specific financial guidance in the book “Staying Afloat: Managing Your Finances in the Changing Economy” See our latest Impact Report here.
Training Quality Improved! Midas shared best research and methods for financial education delivery in its report:Expanding Financial Skills in Low-Income Communities: A Framework for Building an Effective Financial Education Program. See our latest Impact Report here.
Innovated the model for scaling up! Midas piloted the integration of workforce development programs and shared the experience in ”Integrating Financial Stability Strategies into Workforce Development Programs: An Implementation Pilot in Boston.” See our latest Impact Report here.