Regaining Financial Stability through Financial Empowerment Programs
The Challenge…
Giovanni and Breanna were forced to leave their jobs to provide full-time care for one of their two young children facing a serious health crisis. After a few months, the family was staying in an emergency shelter in Lynn, trying to regain financial stability. In addition to the housing crisis, the family had fallen behind on filing tax returns.
The Solution…
After being referred to LEO, they began working with LEO’s Financial Empowerment Specialist to get caught up. After filing six years of tax returns, Giovanni and Breanna were able to access the Earned Income Tax Credit (EITC), Child Tax Credit (CTC), as well as refunds for prior overpayments from years of working. In total, the family will receive enough in refunds to enable them to find housing and exit emergency shelter. They continue working with LEO on their path to long-term financial stability. “We could not file our taxes to the same degree if not for the generous services LEO provided. The benefits to having them in this community cannot be overstated”.
LEO’s Financial Empowerment Program provides a variety of services, including tax preparation, to local households working toward financial stability. The program leverages federal investment, including through the Community Services Block Grant (CSBG), along with state and private funding.