Read about our latest updates re: our response to COVID-19. No images? Click here Prosperity Now Is Working Hard to Support You and Your CommunitiesDear, John: When 2020 began, the United States already faced a reality in which far too many families struggled to make ends meet and save for the future. Thirty-seven percent of U.S. households—including a whopping 58% of Black and Latino households—were liquid asset poor in 2019, meaning that these households lacked enough savings to make ends meet at the poverty level for three months. Today, as a result of the current COVID-19 pandemic, we are facing a grave and unprecedented household liquidity and health crisis as many businesses and employers are forced to close or reduce operations – leaving millions of American families without incomes and health insurance on which they rely. The precarious conditions many households faced at the beginning of the year are exacerbated by this crisis, bringing vulnerable and marginalized households to a state of economic disaster. As a national intermediary, our first response to the COVID-19 pandemic was to uplift the voices, concerns and needs of community-based organizations on the front lines. We designed and hosted three listening sessions with over 400 organizations across the country to understand how our current crisis is impacting households and those delivering financial services. It is clear that an adequate response to the financial crisis needs to both increase income and reduce expenses as households struggle to maintain financial stability. We continue to listen deeply to our partners across the country, and here are some of the ways we at Prosperity Now are mobilizing to address this immediate crisis:
For 40 years, Prosperity Now has worked as a national intermediary organization supporting the broader financial capability and asset-building field. We take seriously our responsibility to the field. We will be fierce advocates for vulnerable and marginalized communities across the country. We will continue to listen, learn and be responsive to organizations and communities throughout this crisis. In the coming weeks, we’ll hold listening sessions with several of our Prosperity Now networks, including the Savings and Health and Wealth networks, to understand how we are revamping services across the country to match the need in communities. In the short-term, we are focused on ensuring partners in the field are supported through data, peer networks, advocacy and programmatic resources as they shift their operational models and work to build financial stability for so many facing dire economic circumstances. As we look toward the future, we are committed to supporting our partner organizations through economic recovery long-term. We view this moment as an opportunity to shift the narrative of why poverty exists and we will seek opportunities to champion broad systemic change. Over time, we look forward to working with organizations in our field, as well as policymakers, researchers, and others, to fulfill our mission of providing everyone in this country with the opportunity to achieve financial security, wealth and ultimately prosperity. We are deeply thankful for the work of our partners--non-profit practitioners, philanthropy, researchers, policymakers, healthcare providers, and others--who are giving everything they have to support communities across the country during this unprecedented time. Our work is more critical than ever. We hope you will join us in supporting our field and communities we serve by:
With immense gratitude for your dedication to this movement, Gary L. Cunningham |