FABN has changed the way local coalitions work with one another and the communities they serve. Results show the Network’s success in increasing assets for families and communities.
Since 2005, over $130 million, including $65 million in EITC, 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 in tax prep fees were saved by free tax preparation services.
This year over 50,000 families were served by the Network, most of who remain connected to local coalitions who are helping them make progress toward financial sustainability.
|
FABN 2006-2009 Asset Building Inventory Overview |
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|
Asset Building Service |
2006-2007 |
2007-2008 |
2008-2009 |
Total |
|
Amount of federal returns claimed |
$38,844,126 |
$55,277,749 |
$28,494,786.00 |
$122,616,661 |
|
Number of federal claims filed |
39,581 |
49,112 |
49,112 |
137,805 |
|
Amount of EITC refunds claimed |
$19,124,283 |
$22,778,126 |
$18,355,678.00 |
$60,258,087 |
|
Number of EITC claims prepared |
N/A |
10,755 |
9,901 |
20,656 |
|
Amount of tax fees saved |
$8,478,551 |
$8,064,770 |
$3,158,225 |
$19,701,546 |
|
Completed IDAs |
201 |
145 |
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315 |
661 |
|
Enrolled IDAs |
433 |
404 |
1738 |
2,575 |
|
IDAMatching Ratio |
2:1-4:1 |
1:1-6:1 |
1:1 to 4:1 |
1:1-6:1 |
|
IDA Maximum |
$1000-$4000 |
$1,000-$5,000 |
$1,000-$7,000 |
$1,000-$7,000 |
|
Completed Homebuyer Workshops |
2,491 |
3,485 |
3,324 |
9,300 |
|
Number of homes purchased |
565 |
477 |
444 |
1,486 |
|
Savings accounts opened |
1744 |
815 |
3204 |
5,763 |
|
Checking accounts opened |
109 |
179 |
565 |
853 |
|
Completed financial education |
2,637 |
6,184 |
5,144 |
13,965 |
|
Improved credit score |
128 |
290 |
459 |
877 |
|
Small business opened/expanded |
189 |
47 |
70 |
306 |
For the full chart by each Border state please click: Asset Building Inventory Overview
