FRANKFORT — The Allstate Foundation has awarded the Kentucky Coalition Against Domestic Violence (KCADV) $122,000 in grants for its nationally recognized Economic Empowerment Project. The Allstate Foundation has awarded over $1 million over 11 years to support the KCADV’s efforts to break the cycle of domestic violence through economic empowerment.
The Allstate Foundation’s funding will support individual case management, financial education classes, Individual Development Accounts (IDAs), micro loans, credit building, free tax preparation, and housing at Kentucky’s 15 domestic violence programs. Funding will also support KCADV’s innovative partnership with the Kentucky Community and Technical College System’s (KCTCS) 16 community colleges whose transitional students (welfare recipients) have been eligible for financial empowerment services since 2014. Seventy-four percent of KCTCS transitional students report being survivors of domestic violence.
Last year, 2,600 individuals received financial empowerment services using The Allstate Foundation’s Moving Ahead Through Financial Management curriculum. Of these, 152 opened bank accounts, 136 opened IDAs (matched savings accounts), and 117 accessed KCADV’s Emergency Fund for $40,000 total emergency assistance. Additionally, 490 clients viewed their credit scores and/or made a Credit Action Plan, and 29 utilized zero-interest micro loans, a credit-building tool.
To date, KCADV’s Economic Empowerment Project has helped 583 participants purchase assets totaling $2 million: 180 have purchased homes; 53 have started or expanded small businesses; 235 have pursued a post-secondary degree; and 115 have purchased their own cars.
KCADV’s Economic Empowerment Project was featured at Aspen Institute’s Ideas Festival Credit Builders Alliance Symposium in 2015. It was also awarded the Center for Non-Profit Excellence’s 2015 Pyramid Award for the Art of Collaboration.
The Kentucky Coalition Against Domestic Violence is a coalition of the Commonwealth’s 15 publicly funded domestic violence programs.
About the Allstate Foundation:
Established in 1952, The Allstate Foundation is an independent, charitable organization made possible by the subsidiaries of the Allstate Corporation. Allstate and The Allstate Foundation sponsor community initiatives to promote “safe and vital communities”; “tolerance, inclusion and diversity”; and “economic empowerment”. The Allstate Foundation believes in the financial potential of every individual and in helping America’s families achieve their American dream. For additional information please visit www.allstate.com/foundation.