All FII families can access financial capital through the UpTogether Fund, a feature of the UpTogether.org platform and a source of dollars specifically created to support initiatives families have told us are important to them. Given that each family forges its own path toward mobility, funds are drawn to support a variety of household goals.
Over the past twelve months, the UpTogether Fund has distributed 547 payments totaling approximately $620K to FII families, with the majority of draws coming in at less than $1,000 and the median amount hovering around $500, minimal dollar investments to be sure.
Used for myriad purposes, we know that the vast majority of UpTogether Funds distributed over the last twelve months have been focused on initiatives related to Financial Health (which includes expenditures for housing), Children & Family, Health & Fitness, and Education, all categories important to families throughout the nation.
What’s particularly impressive, however, is the acceleration we see in families’ economic mobility as a result of the availability of these small, yet critically important, direct investments.
From the 12 months before to the 12 months after drawing capital from the UpTogether Fund, we see that families leverage these minimal investments to great advantage. Total income increases by 19% on average, or by more than $5,500 while, at the same time, reliance on government entitlements and subsidies decreases by 42% or nearly $1,500.
Growth in total assets is equally impressive for this group, especially when you consider the median investment made per family is only $500. With an average increase per family of 108% or $2,658, positive growth is seen in all asset categories tracked – checking, retirement, and savings.
Of course, FII families are thriving whether they access UpTogether Fund dollars or not. Community building, monthly journaling, leadership opportunities, event planning and participation, expanding networks, and family cohort meetings, along with personal accountability and support from other family partners all contribute to their success in achieving mobility, however they define it.