Finance

ACHIEVEability parents are required to maintain employment while in the program. Their respective incomes must meet all necessary monthly expenses, including rent and utilities. 

ACHIEVEability strives to help its families become financially self-sufficient. A family's financial progress is measured by credit score, savings and earned income. We use the Self-Sufficiency Standard for Pennsylvania as a measuring tool to determine each parent's progress toward financial self-sufficiency.

The average ACHIEVEability family is comprised of one adult and two children and is earning less than $20,000 per year, which is nearly 60% of the Self-Sufficiency Standard for Pennsylvania in Philadelphia County.

During FY15 and FY16, 28 ACHIEVEability parents earned college degrees. These degree earners who exited the program saw a 50% increase in average annual salary from entry. This increase in average annual earnings of more than $9,000 reinforces the importance of education in breaking the cylce of poverty. 

 

Individual Development Accounts

ACHIEVEability, in collaboration with the United Way of Greater Philadelphia and Southern New Jersey, provides Individual Development Accounts (IDA) to its families. The IDAs match the savings of those enrolled 2 to 1. Participating parents save $2,000 and, in return, receive an additional $4,000. IDAs also help our parents learn financial skills in saving, budgeting and money management. The funds saved through the IDAs are used toward the settlement costs to buy a home.

For more information contact:

Community Services Office
215-557-8484 ext. 8839
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