FII is launching in Austin, thanks to the support of our lead donors The Michael and Susan Dell Foundation, the St. David’s Foundation, and Google.org. Over the next five years, we will work with community based organizations and other partners to reach 1,000 families in multiple neighborhoods across Greater Austin. By trusting and investing in family’s own solutions we expect our families to see economic and social mobility.
FII National Average Outcomes
During the two years of engagement with FII, the average investment directly to a family is $2400. Using this investment, families grow their yearly income by $5,829 (or 2.4 times the investment) and their assets by $4,089 (or 1.7 times the investment). FII families also report a 55% decrease in subsidies such as TANF and SNAP. They increase their monthly savings account balance on average from $247 to $1,084 and their total liquid assets from $623 to $2,582.
Every month we ask families to report on how they help and receive help from their friends, family, and neighbors, and if those exchanges were monetized, how much money they would be worth. Reviewing this data, we discovered that FII families have exchanged an estimated $8 million in social capital through activities like watching each other’s children, cooking for one another, lending money, and other activities that contribute to strong, resilient communities. We expect Austin families to see similar outcomes.