Organization: THE MIDAS COLLABORATIVE INC
Mission: TO FACILITATE ASSET DEVELOPMENT AND PROTECTION OF LOW-INCOME FAMILIES IN A MANNER THAT IS PEER SUPPORTED, PRACTITIONER-TESTED, AND COMMUNITY-BUILDING.
Activities: BUILDING SAVINGS AND INVESTMENT: MIDAS OPERATES MULTIPLE MATCHED SAVINGS PROGRAMS IN PARTNERSHIP WITH MEMBER COMMUNITY ORGANIZATIONS ACROSS MASSACHUSETTS. IN 2019, 9 PARTNER SITES ENROLLED 173 PARTICIPANTS WHO ATTENDED WORKSHOPS AND COUNSELING SESSIONS TO BUILD THEIR FINANCIAL SKILLS AND CAPABILITY. 127 MATCHED SAVINGS PROGRAM PARTICIPANTS GRADUATED IN 2019, MAKING INVESTMENTS IN HOMES, HIGHER EDUCATION PROGRAMS, SMALL BUSINESSES, AND OTHER ASSETS SUCH AS CARS, COMPUTERS, TEXTBOOKS AND EMERGENCY SAVINGS FUNDS.
DELIVERING FINANCIAL EDUCATION AND POLICY: MIDAS PROVIDED TRAININGS TO STAFF FROM MEMBER COMMUNITY ORGANIZATIONS ACROSS THE STATE THAT SERVE LOW AND MODERATE INCOME RESIDENTS, TO VOLUNTEERS AND MEMBERS OF THE PUBLIC WHO PARTICIPATE IN MIDAS' MASSSAVES INITIATIVE, AND TO EDUCATORS AND POLICYMAKERS AT OUR ANNUAL FINANCIAL EDUCATION SUMMIT. TRAINING TOPICS INCLUDED: STUDENT DEBT, MOBILIZING FOR THE 2020 CENSUS, ASSET BUILDING AND SAVINGS, FINANCIAL CAPABILITY FOR OLDER ADULTS, AND FINANCIAL HEALTH AND WELLNESS AMONG VARIOUS AGES AND STAGES.PERFORMING OUTREACH AND ADVOCACY TO ADDRESS INCOME INEQUALITY: MIDAS PARTICIPATED IN POLICY COALITIONS AND ENGAGED IN DISCUSSIONS AT THE STATE LEVEL ON TOPICS SUCH AS CONSUMER PROTECTION, FAIRNESS IN DEBT COLLECTION PRACTICES, FINANCIAL LITERACY AND EDUCATION, ASSET BUILDING, AND TAX CREDIT REFORM. MIDAS REPRESENTED MASSACHUSETTS IN THE NATIONAL CONVERSATION ON INCOME INEQUALITY, WEALTH BUILDING, AND FINANCIAL CAPABILITY.
NTEE category: Human Services
Secondary category: Community Improvement & Capacity Building