As a new homeowner, Lori’s life has changed in recent years. This Del Valle mother of five says what hasn’t changed for her is she is still “living paycheck to paycheck.” That’s why every year she can’t wait to receive her income tax refund. To get her taxes done, Lori has relied for several years on free tax services from the IRS-certified tax preparers with Foundation Communities’ Prosper Tax Help program.

“Just knowing that I’m having someone who is qualified to do them correctly takes my worries away,” said Lori. “I also enjoy not having to spend money for someone to get that done. I want all my money back.”

Lori says she also loves that Prosper Tax Help staff and volunteers don’t mind answering all her questions. She had plenty of questions about the 2021 Child Tax Credit. The Child Tax Credit for parents was expanded in 2021 from $2,000 to $3,000 for each child ages six to 16, and to $3,600 for each child under six through The American Rescue Plan. Many parents also received half of their 2021 Child Tax Credit through monthly payments from July to December 2021. Lori was afraid those payments would reduce the amount of her tax refund, but Prosper Tax Help assured her it would not. She says those advance payments were right on time!

“Instead of waiting for that one time of year for that money to come in to help, you’re getting it throughout the year. So it was kind of a big stress reliever,” said Lori.

Lori says she used the advance payments to get her car repaired when it broke down, to get work done on her new home, and to take her kids on trips. She says those are things she would have struggled to do without the money from the expanded Child Tax Credit.

We hear from some taxpayers that they choose to pay for tax preparation thinking that if they’ll get a bigger refund if they pay for the service. Lori has this message for them: “I would probably say you better make sure they’re not doing anything illegal first of all. I feel like coming here, I do get what I’m supposed to get, and I don’t’ see that there’s anything they would miss by getting them processed by Foundation Communities Tax Centers,” said Lori.

Although the tax filing deadline has passed, there is still time for families to claim the full 2021 Child Tax Credit (or the half they are still owed) by filing tax returns. Our Tax Help program will be open at our Prosper Centers in North and South Austin until October 15, 2022. We are accepting appointments and walk-ins. You can find out more information, including the schedules and locations, at ProsperTaxHelp.org

Felix has been meeting with his financial coach since 2015. Here’s what he said when we asked him how Financial Coaching has affected his life.

When I first came to meet with Erika Leos for financial coaching, I was in financial ruin. I owed $26,000 to the Department of Education and $13-14,000 in child support. And then, there were overdrawn bank charges, fees, payday loans, pawn shops and other debtors. Ms. Leos has helped me to eliminate many of these obligations to the point where I owe $0 to the Department of Education and $0 in child support. I haven’t had any overdraft fees lately; I don’t owe the pawn shop and I don’t owe payday lenders.

In 2015, Felix was not working. He is blind and receives Social Security, which covers his expenses. But, he needed more income if he was going to make strides toward his goals.

The first thing she made me do was to go to work. Child support and student loans were not going to come off my credit report. Over the years, all those loans have been paid off. The only debts left are one or two collections.  I highly recommend Financial Coaching for any of you out there that want to change your life around. At this point, my bank account has thousands of dollars. 

Felix has worked hard to earn more income, pay down debts and build savings. Now he is looking to the future with optimism about a goal that once seemed unattainable: homeownership.

Because of Ms. Leos and becoming employed, I created an escrow account that ended in almost $9,000.

Now we’re looking at savings bonds purchase, CD purchase and gold and silver purchase, and ultimately home purchase. Erika is the greatest asset that God has put in my journey and she is worth her weight in gold – twice the amount. I couldn’t do it without her. I gotta stay close to Ms. Leos.

Over the last seven years, Felix’s financial coach has provided perspective, encouragement, and the time and space to make a plan, and Felix has done the hard work of executing the plan. At the end of the day it’s a team effort.

“I think for a lot of single mothers like me, it’s really, really helpful. We have no other source of income other than our job income and, with prices going up it’s even harder.” That’s what Sheila, a Prosper Tax Help client who is a mother of four, said about receiving advance Child Tax Credit payments. She said after using Foundation Communities’ free tax services several years ago, she started filing her own taxes because they were simple. Then, changes in the tax laws, especially the Child Tax Credit, convinced her to return to Prosper Tax Help. “For the Child Tax Credit, I just really like that ya’ll are up to date with everything, and ya’ll do your best for everyone to get their max tax [refund] and Child Tax Credit. It’s just worth coming here, I feel,” said Sheila.

Until October 15, Foundation Communities’ two Prosper Centers in Austin will be open on Tuesdays and Thursdays, as well as some “bonus” days, to assist our neighbors who still need to file their taxes. Many of them have not received the Child Tax Credit they are eligible for because they haven’t filed a 2021 tax return yet. Our IRS-certified tax professionals are also helping clients access stimulus checks they have not received, respond to letters from the IRS and apply for, and renew ITINs (Individual Taxpayer Identification Numbers).

Sheila says before Prosper Tax Help filed her taxes in January, she was concerned that the advance Child Tax Credit payments she had received would reduce the amount of her tax refund. She was relieved when her refund was not affected. Sheila also talked about how the Child Tax Credits helped her as a single mother. “Like, my baby, I paid daycare,” said Sheila. “We were able to also buy some new clothes or go out to eat to Mr. Gatti’s, especially for the baby so he can have fun.”

Sheila says she has paid to have her taxes done before, through for-profit tax services. Not only did she not like having to share some of her refund with those preparers, she also didn’t feel comfortable about it. “When I’ve paid, I always feel something’s suspicious or hidden. I don’t get my questions answered and I do ask a lot of questions,” said Sheila. She says at the Proper Centers she always gets her questions answered and she likes the way returns are double-checked to make sure they’re done correctly. She says she often recommends Prosper Tax Help to others.

You can learn more about receiving free help with your taxes through Prosper Tax Help at prospertaxhelp.org.

Iyanna Burns prides herself in being independent and self-sufficient. But in 2019, she had to swallow that pride a bit. Pregnant with her third child, Iyanna made the decision to remove herself from an unhealthy living situation and return to the north Austin area. It’s where she had grown up, and where she could find support from family members. Unable to find an apartment she could afford on what she made at a fast food restaurant, Iyanna took her brother up on his offer to move in with his family.

“There were three ­– and then four of us packed into one bedroom – little toys, little shoes, stuff everywhere,“ said Iyanna. “And, there was never a moment of peace or privacy. I needed that.”

Iyanna says the worst part was having to rely on someone to help her with the kids she gave birth to. She recalls how embarrassed she was when one of her boys spilled paint, leaving a big, permanent stain on the carpet – carpet she could not afford to replace.

In the summer of 2020, Iyanna started looking again for an apartment she could afford. She called 2-1-1 and learned about Foundation Communities. She went through the application process, and weeks later, she received a call that her family was approved for an apartment at Lakeline Station.

“When I came here to Lakeline Station, I was blown away. The apartments were really, really nice apartments – so spacious and in a quiet community,” said Iyanna.

Iyanna says she was excited, but also scared. She was about to be raising her children by herself for the first time. Fortunately, as part of Foundation Communities’ Children’s HOME Initiative, she received free parental support. Iyanna embraced the financial coaching classes even more as she had compiled quite a bit of debt.

Iyanna said, “I made up my mind I was going to do everything they asked me to do, and it paid off.”

She was able to buy a newer car, one with air conditioning that works! Now, she is virtually debt-free. Her goal now is to purchase a home for her family. Iyanna says it wouldn’t have been possible without affordable housing and support services from Foundation Communities.

Iyanna says in the past, she had always been reluctant to ask for help because she was afraid of what people might think of her. Now, she believes what really counts is what you do with the help you receive. Click on the video below to watch her tell her story at a recent housing expansion event.

During the 2022 Tax Filing Season, almost 11,000 people had their tax returns filed by our hardworking team of certified IRS tax preparers. That includes 17,582 hours donated by 315 Prosper Tax Help volunteers. We recovered more than $24 million in refunds for our Central Texas neighbors, most of whom are making low-to-moderate incomes. Most of that refund total came from Earned Income Tax Credits and Child Tax Credits.

We are incredibly grateful to the volunteers and government and non-profit partners who helped us complete another successful tax filing season You can learn much more about the results from Foundation Communities’ 18th year providing free tax services by clicking on the 2022 Filing Season Summary below.

This month we would like to honor and celebrate our most seasoned volunteer Financial Coach, Jewel Arrington! Jewel has been a Financial Coach with the Financial Wellness program for 14 years. She brings incredible expertise, empathy, creativity and dedication to her role as a financial coach. Jewel is also currently the Chair of Foundation Communities’ Board of Directors. The Financial Wellness team is honored to work alongside her and grateful that we can offer our clients the opportunity to meet with such a wonderful coach!  

We asked Jewel how she got involved in the Financial Coaching program: 

“Several years ago I received an email from the Austin Financial Planning Association recruiting volunteers for FC’s financial coaching program. I was a new financial planner, interested in working with low and middle income people, so I thought the coaching program might be a good fit. I discovered that I enjoy the coaching approach to helping people, and I like working with people who have little access to traditional financial advice.” 

Why she believes Financial Coaching is important: 

“Financial coaching is important because it helps people who have the least access to financial advice find their way to financial stability from wherever they may be starting. It can provide support at a time of financial crisis, help overcome fear and shame related to financial problems, encourage a first step toward a goal, or provide accountability while working toward long term financial goals. Financial coaching doesn’t eliminate the hard work required to address financial problems, but it can reduce the suffering involved.” 

 Her favorite piece of financial advice: 

“My favorite piece of advice applies to many situations: start where you are and focus on the things you can control. As for specific financial advice, align your spending with your values and priorities. A budget is a way of making sure that you are spending your money on the things that matter most to you.” 

And what she likes to do outside of being a Financial Coach: 

“I enjoy being outside, and I go to Lady Bird Lake as often as possible. I love being with my family, which now includes a granddaughter in addition to my husband, daughter, daughter-in-law, and son. I love to read, and I enjoy doing taxes as a volunteer with FC’s tax help program.” 

Thank you, Jewel, for all that you do!  

[Click here to schedule an appointment with a Financial Coach] 

Feel free to email Financialcoach@foundcom.org if you have any questions about our program. 

Foundation Communities has taken another big step toward reaching our current goal for expanding affordable housing in Austin. This week, we were awarded $6 million from the Capital Magnet Fund administered by the U.S. Treasury Department’s Community Development Financial Institutions Fund (CDFI Fund). Foundation Communities is one of 59 organizations nationwide that will receive a total of $336.4 million for development of affordable housing and community facilities serving low-income individuals, families and communities.

The $6 million will help us raise the $30 million needed to build or complete eight new affordable apartment communities all over Austin. You can learn more about these future communities here. “We are excited that this award from the Treasury Department moves us closer to welcoming home more than 2,000 residents, many of whom will come directly out of homelessness,” said Foundation Communities Executive Director Walter Moreau. “This funding comes at a critical time when our waiting lists for affordable housing are longer than ever.”

The new affordable apartments Foundation Communities is planning to build will be for low-income families or single adults. Like the other 23 properties we already own and manage in Austin, residents will benefit from below market rate rental prices, as well as an array of support services designed to help them in the areas of education, financial wellness and health.

What is a payday loan?

Know your rights: 

Alternatives to payday loans:

If you find yourself stuck in a payday loan, there are options available: 

Medical bills can be confusing and overwhelming and often come at a time when you’re already in distress. If this sounds like you or a loved one, below is information that can help currently and in the future.

Know Your Rights and Protections

• No Surprises Act

• Financial Assistance Options

• Debt Collectors

• Credit Report

• Avoid Scammers

• Navigating Medical Debt – Informational Webinar

For health insurance enrollment support through Foundation Communities, call 512-381-4520 today!

If you would like to talk to a Financial Coach about any financial plans call our Prosper Centers at 737-717-4000 or visit our web site at ProsperFinancialWellness.org.