SparkPoint Centers
A Good Idea
Description
The goal of SparkPoint is to help low-income families create step-by-step plans to help them get out of poverty and achieve long-term financial stability. The program acknowledges that long-term changes take time to initiate and maintain, thus they commit to working with each family for up to three years to help them achieve their goals. Services available to clients include: credit counseling/repair, job placement/training, career development, higher education, entrepreneurship training, business development, benefit screenings, individual development accounts, home ownership, and tax preparation.
Goal / Mission
The goal of SparkPoint is to help low-income families create step-by-step plans to help them get out of poverty and achieve long-term financial stability.
Results / Accomplishments
At one SparkPoint Center, clients who participated in two or more services had a 65% success rate, compared to 17% for clients who participated in only one service. Success is defined using four outcomes: (1) having a livable income that reaches the Self-Sufficiency Standard, (2) having a good credit score of 650 or above, (3) accumulating savings that equal to three months of living expenses, and (4) reducing debt to less than 40% of monthly income.
About this Promising Practice
Organization(s)
United Way of the Bay Area
Primary Contact
Topics
Economy / Investment & Personal Finance
Organization(s)
United Way of the Bay Area
Date of implementation
2009
Geographic Type
Urban
Location
San Francisco Bay Area, CA
Target Audience
Families
Additional Audience
low-income