For Immediate Release - March 05, 2013

Financial Literacy Trust Fund Poised to Make Grant Award

$10,000 Earmarked for Programs to Help Seniors Address Financial Challenges

Treasurer Steven Grossman today announced that the Financial Literacy Trust Fund (FLTF), a non-profit board that he chairs, is soliciting grant applicants for up to $10,000 in funding to assist and educate senior citizens in financial matters.

“Senior citizens are one of the most underserved populations when it comes to financial education, and proactive steps to help them preserve and protect their savings are critical,” said Grossman.  “The Financial Literacy Trust Fund will target this grant money toward organizations with the proven innovative approaches to effectively reach seniors and help meet their financial education needs.”     

The FLTF is an independent body that develops a state-wide strategic policy for enhancing financial literacy and raises funds to implement its goal of educating historically underserved populations on smart saving and budgeting practices.  The Trust Fund, which is governed by a twenty-member board comprised of elected officials, business leaders, and financial literacy advocates, was created by the Legislature in 2011.  

Applicants for the funding must be tax-exempt organizations with at least five years of experience serving senior citizen populations in relation to financial matters.  The grant application requires that organizations requesting funding should focus on at least one of four categories, including direct service and coaching, a targeted public awareness campaign, direct crisis counseling, and group training.  The funding will go to one or more applicants, at the discretion of the Trust Fund.

Grossman has made financial literacy a priority in his administration, noting that “kids need it, veterans need it, senior citizens need it, and single moms need it.”  He has attended and promoted a series of associated seminars through his Office of Financial Education, including Money Conferences in a number of Massachusetts Gateway Cities and fiscal “Reality Fairs,” where high school students participate in a series of simulated exercises and scenarios surrounding budgeting and saving.  His advocacy also led in part to the creation of the FLTF.

The deadline for applicants to request funding is April 12, 2013.  The application can be accessed at www.mass.gov/treasury/fltf-opportunities, and any questions can be directed to fltf@tre.state.ma.us or (617)367-9333, ext. 613.