Community Teamwork, Inc. is a regional nonprofit organization that has provided one AFI grant since 2007, with an emphasis on homeownership, business capitalization, and higher education.
This project emphasizes homeownership, business capitalization, and higher education opportunities, with the goal of training low-income individuals in the financial literacy academy, and helping IDA participants meet their savings goals and purchase assets. This project has been successful in opening IDAs, enrolling participants, offering financial literacy, and providing VITA/EITC tax returns for the community.
Partners
Partners for this grant include Community Teamwork, Inc., Casey Family Services, Coalition for a Better Acre, Caleb Group, Enterprise Bank & Trust, Lowell Small Business Assistance Center, Merrimack Valley Housing Partnership, Middlesex Community College, MassBank, and Jeanne DArc Credit Union, all providing program support and financial education.
Assets for Independence Grant History
Project Title
Asset Development/ IDA Program
Highlights/Outcomes
61 IDAs have been opened.
183 participants have received financial education.
$106,089 saved by participants.
22 participants have purchased an asset.
Total AFI Funding
Total AFI Grant Funding:
$90,000
Total Non-Federal Support: $180,000
Focus Population
The grant targets people receiving services from the Greater Lowell IDA Collaborative (Community Teamwork, Inc., Casey Family Services, Coalition for a Better Acre, Caleb Group) in the greater Lowell area including, low- and moderate-income clients of Section 8 and other housing assistance programs, first time homebuyer programs, Head Start and other early learning programs, and entrepreneurship training programs.
Contact
Community Teamwork
167 Dutton St. Lowell, MA 01852
(978) 459-0551 www.comteam.org
