The Financial Planning Association of the National Capital Area was able to provide a $6,000 grant to Our Daily Bread after the organization's 19th annual Golf Tournament.
The tournament was held in Reston in May, and the money will help fund a part time staff person at Our Daily Bread who will help track the progress of participants in ODB's monthly free financial clinics during the next year.
"There's no way to accurately demonstrate the tremendous success of our financial clinic without a dedicated part-time staffer following up," said Lisa Whetzel, Executive Director of Our Daily Bread, in a press release.
"Thanks to the generosity of the Financial Planning Association of the National Capital Area, we no longer have to fund the position out of operating expenses," Whetzel said in the release. "We can now use the money for other pressing needs, including food distribution to the hungry."
"Since February 2011, we've collaborated with Our Daily Bread and other area nonprofit associations to provide free financial counseling sessions by our members to low and moderate income adults in the Fairfax County," said Marguerita Cheng, President of the Financial Planning Association of the National Capital Area in a prepared statement. "We're happy to expand our relationship with this wonderful program."
Members of the Financial Planning Association NCA volunteer to provide one-time, 45-minute sessions that help clients examine their current financial situation and create a course of action to address their concerns. Our Daily Bread then follows up with the client threemonths later to track their progress.
According to ODB more than 75 percent of the participants are taking positive steps toward gaining better control of their finances three months after participating in the clinic. Since the partnership began, 20 financial planners have volunteered more than 260 hours helping to council 85 adults.