Income & Asset Building
 
Increasing Income & Assets

New: RFP Now Available to Expand Economic Empowerment in Puget Sound

Persistent Income Inequality

Washington State, and particularly the Puget Sound region, continues to face persistent income poverty and asset poverty, with BIPOC households experiencing rates two to three times higher than those of white households. To address these disparities and promote stability for low-income households, LISC Puget Sound is expanding the Financial Opportunity Center® model across the region and mobilizing new partners to enhance its impact.

FOC Model: Catalyzing Success and Wealth Building

The Financial Opportunity Center® (FOC) model aims to catalyze successful employment outcomes, disrupt poverty cycles, and foster wealth creation through an integrated systems approach. This approach combines financial coaching with employment services to:

  • Connect individuals to family wage and green jobs.
  • Enhance the capacity of  FOC's, especially those serving Pierce County residents, to increase access to and retention of family-sustaining incomes. This initiative, led by United Way of Pierce County since 2016 under the name Center for Strong Families, aims to bolster incomes and wealth building for more families in Pierce County.

Strategic Partnerships and Infrastructure Development

In our efforts, we will:

  • Forge deep partnerships with Puget Sound workforce training agencies and educational institutions, focusing on collaboration with BIPOC-led and serving agencies.
  • Invest in building infrastructure to integrate financial coaching frameworks into existing workforce programs.

Education, Coaching, and Technical Assistance

We aim to:

  • Provide high-quality financial education and coaching to workforce participants, equipping them with tools and resources to achieve financial stability and create pathways to generational wealth.
  • Offer technical expertise and assistance to agencies implementing financial coaching and education, emphasizing the utilization of SNAP Employment & Training (Basic Food E&T) to enhance sustainability and financial opportunity capacity through federal match.

Policy and Systemic Change

Together with agency partners and participants who have lived experiences, we will:

  • Build a policy and systems change approach to tackle enduring systemic barriers to employment and financial well-being.
  • Develop system frameworks that catalyze wealth-building opportunities for residents of Washington.

Call for Partnerships

Please reviw our Request for Proposals (RFP) for new partners to join and accelerate this work.

      New Grant Opportunities
      Financial Opportunity Center® Model

      The Financial Opportunity Center® (FOC) model addresses critical community needs by providing comprehensive support to individuals and families, particularly those from marginalized communities, who are facing financial instability and economic hardship.

      Empowering Financial Stability

      The FOC model is attuned to the deep-rooted economic disparities prevalent in many communities, especially among BIPOC households. By offering key services such as financial coaching, employment counseling, and income support counseling, the FOC empowers individuals to overcome systemic barriers, achieving financial stability and prosperity.

      Navigating Benefits Cliffs

      Acknowledging the challenges posed by benefits cliffs, the FOC model provides tailored support and guidance. This ensures that participants can smoothly transition from public benefits to wage gains without risking financial instability or reduced economic mobility.

      Supporting Employment and Career Advancement

      LISC Puget Sound recognizes that securing employment is just the first step toward financial stability. The FOC model supports job retention and career advancement, helping individuals navigate the complexities of benefits cliffs and financial planning, thus promoting greater economic stability for both families and employers.

      Promoting Financial Wellness

      Through financial coaching, resource navigation, and credit counseling, the FOC model fosters financial wellness among participants. These services are designed to help individuals build budgeting skills, access essential financial resources, and plan for long-term stability.