Frontera Asset Building Network (FABN) is a dynamic learning community focused on creating and achieving high impact asset building vehicles for families living along the Southwest border of the United States.  Network members of the Frontera Asset Building Network and their partners support family economic success efforts through free tax preparation assistance, helping families claim EITC and Child Tax Credits, Individual Development Accounts, micro-enterprise opportunities and other asset building strategies.

                The Frontera Asset Building Network is connecting us to the national level
              and it is very supportive--it's like you are not alone out here.  The (Annie E.
              Casey) Foundation is pushing for us--helping support the connectivity, local
              and national.   Veronica Salcido Harding, New Mexico Community Foundation.
    

 

Since its inception in the Fall of 2005, over $130 million dollars, 65 million in EITC alone have been returned to border regions via income tax refunds prepared at low or no cost by local coalition members. In the 2008 tax season over 8 million dollars in tax prep fees were saved by free tax prep services. This year over 50,000 families were served by the Network, most of which remain connected to local coalitions and are making progress toward building financial assets and sustainability. Below is a summary of the Network’s asset building programs and 2007-2008 results.

 

Asset Building Service	Border Total
EITC refunds	$22,778,126
EITC claims	10,755
Federal refunds	$55,277,749
Federal claims	36,613
Amount of tax fees saved	$8,064,770
Completed IDAs	145
Enrolled IDAs	404
IDA Matching Ratio	1:1-6:1
IDA Maximum	$1,000-$5,000
Completed Homebuyer Workshops	3,485
Number of homes purchased	477
Savings accounts opened	815
Checking accounts opened	179
Completed financial education	6,184
Improved credit score	290
Small business opened/expanded	47

If you would like to see the full chart for your state please click on the following:

Asset Building Inventory Overview