Catalyst Miami to Kick-Off Free Tax Filing and Webinar Viewing of CFED Report on Growing Struggles Faced by Families Trying to Save and Build Assets

On Wednesday January 30, the Corporation for Enterprise Development (CFED) will release new data and analysis on the growing number of Americans who are unable to save for emergencies or put aside money to invest in longer-term assets, such as home, college, or retirement. To accompany the national CFED Scorecard release, Catalyst Miami will provide free tax preparation for South Florida residents during its Prosperity Campaign Kick-Off scheduled from 2:30 to 5p.m. South Florida residents will have the opportunity to meet with an IRS-Certified tax preparer, receive financial services, and learn more about Florida’s national ranking on financial stability. Visitors to the Catalyst Miami office will also have the opportunity to join in the national release of the Assets and Opportunity Scorecard webinar presented by leading CFED experts (1-2p.m. EST).

The 2013 Assets and Opportunity Scorecard explores the financial security of residents in all 50 states and the District of Columbia and assesses policies that are helping residents build and protect assets across five issue areas: Financial Assets & Income, Businesses & Jobs, Housing & Housing & Homeownership, Health Care and Education. Published annually, the Scorecard offers the most comprehensive look available at Americans’ ability to save and build wealth, fend off poverty and create a more prosperous future.

This year’s report will offer critical new data on the growing number of families who are “liquid asset poor,” meaning they lack adequate savings to cover to basic expenses at the federal poverty level for just three months if they suffer a loss of stable income. The report will also examine racial disparities in asset poverty, comparing savings and assets, median net worth and homeownership rates among white households and households of color.

The state of Florida fares far below other states ranking 47th overall in the country for overall financial stability among its residents. The impact of low-wage earnings and limited savings is harsh in the state and particularly devastating to individuals in Miami-Dade County. “The impact is even greater in Miami-Dade where language and cultural barriers have led to exploitation of vulnerable populations and lack of awareness about available programs,” explains Daniella Levine, CEO of Catalyst Miami. “Our Prosperity Campaign lessens those barriers, but much more needs to be done.”

WHAT:  Release of 2013 Assets& Opportunity Scorecard and Kick-Off of 2013 Prosperity Campaign Free Tax Preparation

WHEN:  Wednesday, January 30, 2013, 1-2 p.m. EST, Scorecard Release | 2:30-5p.m EST, Posperity Campaign Kick-Off

WHERE:  Webinar from Washington, D.C. and free tax preparation presented at Catalyst Miami    
1900 Biscayne Blvd, Miami, FL 33132

PRESENTERS: Andrea Lever, president of CFED; Jennifer Brooks, director of state and local policy at CFED; and Kasey Wiedrich, senior program manager, applied research, CFED, Representatives of offices of Mayor Carlos Gimenez and Miami Dade Delegation, IRS and area nonprofits

To schedule an appointment for free tax preparation at Catalyst Miami, call 305-576-5001 x48. Appointments are encouraged though walk-ins are welcome on a first-come first-serve basis. All Scorecard information and data will be available January 30 at scorecard.cfed.org.

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CFED empowers low- and moderate-income households to build and preserve assets by advancing policies and programs that help them achieve the American Dream, including buying a home, pursuing higher education, starting a business and saving for the future. As a leading source for data about household financial security and policy solutions, CFED understands what families need to succeed. We promote programs on the ground and invest in social enterprises that create pathways to financial security and opportunity for millions of people. Established in 1979 as the Corporation for Enterprise Development, CFED works nationally and internationally through its offices in Washington, DC; Durham, North Carolina; and San Francisco, California.

Catalyst Miami, formerly the Human Services Coalition (HSC), identifies and launches innovative strategies to help people and communities thrive and to create a more equitable and caring society. We work through a network of partner organizations, linking people with financial education, healthcare information, public benefits and educational and economic opportunities. Our programs promote economic self-sufficiency, participation in civic life, organizational strength, and respect across many divides. We inspire people to get involved and prepare them to step up to leadership roles that lead to long-term community transformation.