Prepare And Prosper

P+P DOES FREE TAXES, FREE FINANCIAL COACHING, AND HELPS PEOPLE OBTAIN BANKING ACCESS.

PREPARE + PROSPER (P+P) IS A ST. PAUL-BASED ECONOMIC JUSTICE NONPROFIT FOUNDED IN 1971 TO PROVIDE FREE HIGH-QUALITY TAX PREPARATION TO LOW- AND MODERATE-INCOME MINNESOTANS. WHILE TAX PREPARATION REMAINS CORE, P+P HAS SINCE EVOLVED INTO A NATIONALLY RECOGNIZED LEADER IN FINANCIAL INCLUSION BY OFFERING INNOVATIVE, ACCESSIBLE PROGRAMS AND TOOLS TO SUPPORT HISTORICALLY DISINVESTED COMMUNITIES IN BUILDING WEALTH AND IMPROVING THEIR FINANCIAL HEALTH. P+P'S MISSION IS TO WORK, ALONG WITH VOLUNTEERS, WITH PEOPLE WHO HAVE LOW TO MODERATE INCOMES TO BUILD FINANCIAL WELL-BEING THROUGH FREE TAX PREPARATION AND FINANCIAL SERVICES, PRODUCTS, AND COACHING, AND BY CHANGING SYSTEMS TO CREATE ECONOMIC OPPORTUNITY. P+P IS COMMITTED TO CREATING EQUITY IN FINANCIAL WELL-BEING AND PROMOTING THE CREATION AND TRANSMISSION OF GENERATIONAL WEALTH. ALL PROGRAMS FREE TAX PREPARATION, INTEGRATED FINANCIAL SERVICES, FAIR, AND FINANCIAL COACHING - PROVIDE TOOLS PEOPLE CAN USE. TAX TIME IS IMPORTANT FOR MANY MINNESOTANS, PARTICULARLY IF THEY QUALIFY FOR REFUNDABLE TAX CREDITS LIKE THE EARNED INCOME TAX CREDIT (EITC), ONE OF THE NATION'S MOST EFFECTIVE ANTI-POVERTY TOOLS, AND P+P, A VOLUNTEER INCOME TAXPAYER ASSISTANCE (VITA) PARTNER PROGRAM SINCE 1975, IS MINNESOTA'S LARGEST CONDUIT FOR THESE CREDITS. IN 2014, P+P LAUNCHED TWO MAJOR INITIATIVES MONEY MENTORS AND FINANCIAL ACCESS IN REACH (FAIR) TO SUPPORT GREATER FINANCIAL WELL-BEING. MONEY MENTORS PROVIDES COACHING AND RESOURCES TO PARTICIPANTS AS THEY WORK TOWARD SELF-IDENTIFIED GOALS LIKE BUILDING CREDIT OR REDUCING DEBT. FAIR PROVIDES A THREE-PRODUCT FINANCIAL SOLUTION FOR FINANCIALLY UNDERSERVED HOUSEHOLDS AND IS DESIGNED TO BE SCALED NATIONALLY THROUGH A COMMUNITY-BASED DISTRIBUTION MODEL.P+P RETURNED TO IN-PERSON TAX CLINIC SERVICES IN SUMMER 2022 AND, DURING TAX SEASON 2023, OFFERED TAX CLINICS AND INTEGRATED FINANCIAL SERVICES AT SEVEN COMMUNITY PARTNER SITES AND THE MAIN LOCATION IN ST. PAUL. THESE IN-PERSON CLINIC OPTIONS WERE SUPPLEMENTED WITH P+P'S DIY TAX PREP WHICH PAIRS ACCESS TO A FREE TAXSLAYER ACCOUNT WITH WEEKLY WEBINARS AND TECHNICAL SUPPORT. ADDITIONALLY, THE SELF-EMPLOYMENT TAX PROGRAM, LED BY SEASONED TAX PREPARERS, SUPPORTED SOLE PROPRIETORS IN MEETING THEIR INDIVIDUAL TAX OBLIGATIONS THROUGHOUT THE YEAR. AS ONE OF THE ONLY ORGANIZATIONS IN THE AREA OFFERING FREE ITINS AND BILINGUAL STAFF AND VOLUNTEERS, P+P CONTINUED TO SUPPORT IMMIGRANTS NAVIGATE THE US TAX SYSTEM. FINALLY, THE REMOTE TAX PREP PROGRAM OFFERED OLDER ADULTS AND PEOPLE WHO HAVE DISABILITIES THE OPPORTUNITY TO HAVE THEIR TAXES COMPLETED BY TRAINED VOLUNTEERS AND RECEIVE THE MAXIMUM TAX CREDITS AND REFUNDS THEY HAVE EARNED, WITHOUT HAVING TO TRAVEL TO A TAX CLINIC SITE. DURING FY23: P+P STAFF AND VOLUNTEERS ASSISTED OVER 7,670 CUSTOMERS, INCLUDING 973 SELF-EMPLOYED PEOPLE, WITH HIGH QUALITY TAX PREPARATION SERVICES, FILING 16,550 FEDERAL AND STATE RETURNS, AND BRINGING MORE THAN $15 MILLION IN TAX REFUNDS BACK TO MEMBERS OF THE COMMUNITY. MORE THAN 26% OF CUSTOMERS WHO RECEIVED SERVICES IN TAX CLINICS ALSO ACCESSED AT LEAST ONE FINANCIAL SERVICE, PRODUCT, REFERRAL AND/OR SAVE ALL OR PART OF THEIR REFUND. P+P'S CERTIFYING ACCEPTANCE AGENTS HELPED 50 PEOPLE APPLY FOR OR RENEW THEIR INDIVIDUAL TAXPAYER IDENTIFICATION NUMBERS (ITINS) AT NO COST. ITINS ALLOW PEOPLE WITHOUT SOCIAL SECURITY NUMBERS TO FILE TAX RETURNS. MONEY MENTORS FINANCIAL COACHING PROGRAM WELCOMED 14 NEW COACHES AND ENROLLED 97 NEW PARTICIPANTS WHO WORK TOGETHER TOWARD INDIVIDUALLY IDENTIFIED FINANCIAL GOALS. 74 NEW CUSTOMERS ENROLLED IN FAIR PRODUCTS, OFFERED IN PARTNERSHIP WITH SUNRISE BANKS 35 CHECKING, 57 SAVINGS, AND 19 CREDIT BUILDER ACCOUNTS; THE DISTRIBUTION PARTNER NETWORK EXPANDED SIX-FOLD TO 28 PARTNERS; AND P+P LAUNCHED AN 18-MONTH PILOT PROJECT TO DETERMINE IF WAIVING THE $3 CHECKING MAINTENANCE FEE REDUCED ACCOUNT CLOSURE AND IMPROVED CUSTOMER SATISFACTION.

FINANCIAL CAPABILITY + LEARNINGPREPARE + PROSPER RUNS TWO SPECIALIZED PROGRAMS DESIGNED TO INCREASE THE FINANCIAL HEALTH AND WELL-BEING OF INDIVIDUALS, FAMILIES, AND COMMUNITIES: MONEY MENTORS FINANCIAL COACHING AND FAIR.

P+P HAS WORKED TO LEVERAGE THE EXPERTISE OF ITS STAFF, AMPLIFY THE VOICES OF PEOPLE DIRECTLY AFFECTED, AND BUILD CROSS SECTOR PARTNERSHIPS AND NETWORKS TO INFORM POLICY AND SYSTEMS CHANGE AND BUILD A MORE EQUITABLE, INCLUSIVE FINANCIAL FUTURE. RECENT EFFORTS INCLUDE STRENGTHENING PUBLIC POLICY RELATED TO TAX CREDITS, ASSET BUILDING, AND CONSUMER PROTECTION. P+P STAFF, VOLUNTEERS, AND CUSTOMERS HAVE FOCUSED ON GENERATING SUPPORT FOR THE PROGRESSIVE TAX POLICIES AND PUBLIC PROGRAMS THAT PROVIDE PROTECTION FOR THE PEOPLE MOST AFFECTED BY MINNESOTA'S ECONOMIC AND RACIAL INEQUITIES. OVER THE PAST FEW YEARS, THESE EFFORTS HAVE INCLUDED:- TESTIFYING IN THE HOUSE TAX COMMITTEE AND HOSTING AN ENGAGEMENT SESSION FOR YOUNG WORKERS TO GAIN SUPPORT FOR THE $30 MILLION EXPANSION OF THE WORKING FAMILY CREDIT;- SUPPORTING THE TAX TIME SAVINGS BILL IN 2019, WHICH RESULTED IN A $200,000 INCREASE IN FUNDING TO REACH MORE FAMILIES WITH FREE, HIGH-QUALITY TAX AND FINANCIAL SERVICES; AND- MONITORING AND PARTICIPATING IN TAX REFORM DELIBERATIONS TO ENSURE PROTECTION AND POSSIBLE EXPANSION OF TAX CREDITS, WITH A FOCUS ON THE EARNED INCOME TAX CREDIT (EITC) AND CHILD TAX CREDIT.P+P ALSO WORKS TO SHIFT POLICY THROUGH "PROOF OF CONCEPT." FOR EXAMPLE, THROUGH THE FAIR INITIATIVE, P+P HAS SET OUT TO CHANGE THE OVERALL FINANCIAL PRODUCTS MARKETPLACE BY DEMONSTRATING THAT AFFORDABLE BANKING PRODUCTS DESIGNED TO HELP PEOPLE BUILD AND PROTECT THEIR WEALTH CAN BE A SUSTAINABLE (AND PROFITABLE) BUSINESS PRACTICE FOR FINANCIAL INSTITUTIONS.KEY SYSTEMS CHANGE PARTNERSHIPS- GOVERNOR'S WORKFORCE DEVELOPMENT BOARD: SUYAPA MIRANDA SERVES ON THE EQUITY AND NEW REFUGEES COMMITTEES OF THIS TASKFORCE WHICH ANALYZES AND RECOMMENDS POLICIES TO THE GOVERNOR AND LEGISLATURE.- MINNESOTA ASSET BUILDING COALITION: ALEJANDRO VALENZUELA, JR SITS ON THE ADVISORY BOARD OF THIS STATEWIDE COALITION OF 140 NONPROFITS CREATING ASSET-BUILDING OPPORTUNITIES AND REDUCING SYSTEMIC BARRIERS TO ECONOMIC MOBILITY BY ENGAGING DIRECT SERVICE PROVIDERS AND THEIR CLIENTS IN EFFECTIVE ADVOCACY.- ST. PAUL OFFICE OF FINANCIAL EMPOWERMENT + FINANCIAL EMPOWERMENT COMMUNITY COUNCIL: P+P WORKS WITH OFE'S COLLEGEBOUND INITIATIVE AND LAST FALL GOT INFORMATION ABOUT THE ADVANCED CHILD TAX CREDIT INTO THE HANDS OF ELIGIBLE FAMILIES WHO HAD NOT ACCESSED IT. SUYAPA MIRANDA SITS ON THE FINANCIAL EMPOWERMENT COMMUNITY COUNCIL WHICH ADVISES THE OFFICE.- LIBERATION IN A GENERATION: CO-FOUNDER, JEREMIE GREER IS VICE-CHAIR OF P+P'S BOARD OF DIRECTORS AND CONSULTS ON PROGRAMMING AND INITIATIVES.- PROSPERITY NOW: PROSPERITY NOW FACILITATES A NATIONAL NETWORK OF COMMUNITY-BASED VITA AND FINANCIAL COACHING PROGRAMS AND SEVERAL P+P STAFF SERVE ON THESE NATIONAL COMMITTEES INCLUDING KATY SCHULTZ WHO RECENTLY STEPPED DOWN AS CHAIR OF THE TAXPAYER OPPORTUNITY NETWORK. P+P IS AN ACTIVE PARTNER, PRESENTING AT CONVENINGS AND CONTRIBUTING TO FIELD GUIDES AND TOOLKITS.- OTHER VITA SITES: P+P PARTNERS WITH VITA SITES IN URBAN, RURAL, AND NATIVE COMMUNITIES ACROSS MINNESOTA TO SHARE RESOURCES AND BEST PRACTICES IN FREE TAX PREPARATION AND ASSET BUILDING SERVICES. P+P OFFERS ITS VOLUNTEER TRAINING MODULES AND MANUALS, TECHNICAL ASSISTANCE, AND MARKETING MATERIALS AND STRATEGIES.