When low-wealth families are provided the tools to save and grow their money, the generational cycle of poverty can be broken.

The median net worth of households in the Mid South is in the bottom percentile in the country.  The lack of assets, like a home, perpetuates the high level of poverty in the region, making it nearly impossible to build wealth for future generations.

We believe that building wealth requires increased access to effective financial programs and information.  When families possess the tools and knowledge to get their finances on track, they can begin to grow their savings, maximize their income, and acquire assets.

Focus of Our Work

Our goal is to enable families in the Mid South to build financial security.

We seek to increase financial knowledge, by expanding access to financial information and resources. 

We also support efforts that increase net worth, such as programs helping people to acquire assets as well as protect and grow their money.

The Foundation for the Mid South's goal to help families reach financial security is supported by two strategies:

Increasing financial competency

We support activities that expand access to knowledge and resources to strengthen adult and youth financial competency. 

Building assets

We invest in efforts that help families acquire assets.  We focus on expanding Individual Development Accounts (IDAs), which provide financial education while helping families save for and purchase an asset, like a business or home.

We also seek to increase the use of the Earned Income Tax Credit (EITC) among eligible low-wealth tax filers, as a means to increase annual income.  We encourage families to use the money earned from the federal tax credit specifically for savings or purchasing a transferable asset.  

A tremendous regional result is the establishment of 3 statewide wealth building coalitions that are advocating for Mid Southerners every day.

Together, our work to increase financial competency and build assets will have a generational impact on poverty and move families from existing paycheck-to-paycheck to real financial security.

• Improved financial knowledge and skills for over 10,000 youth and adults through education and training.
   
• Grew Individual Development Account (IDA) programs across the region that helped move over 60,000 people toward financial security.