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CalMoneySmart

Grantor:
Department of Financial Protection and Innovation
Departmental Grant ID:
FY 2021-22
Portal ID:
4987
Status:
Closed (95 total applications submitted)
Opportunity Type:
  • Grant
Last Updated:
 | 
Categories:

Details

Purpose:

CalMoneySmart is a grant program created by Senate Bill 455 (Ch. 478, Stats. 2019), which established the Financial Empowerment Fund. Through this program, the Department of Financial Protection and Innovation (DFPI) offers grants of up to $100,000 each to develop and deliver free financial education and empowerment programs to help unbanked and underbanked communities.

Description:

The grants may be used to:

Design, develop, or offer free classroom or web-based financial education and empowerment content intended to help unbanked and underbanked consumers achieve, identify, and access lower-cost financial products and services, establish or improve their credit, increase their savings, or lower their debt.

Provide individualized, free financial coaching to unbanked and underbanked consumers.

Design, develop, or offer a free financial product or service intended to help unbanked and underbanked consumers identify and access responsible financial products and financial services, establish or improve their credit, increase their savings, or lower their debt.

More information on the grant can be found here https://dfpi.ca.gov/calmoneysmart/

Eligibility Requirements

Eligible Applicants:

  • Nonprofit

Eligible Geographies:

Grant funded program should focus on unbanked and underbanked households.

Important Dates

The date (and time, where applicable) by which all applications must be submitted to the grantmaker. Time listed as “00:00” equates to midnight.
The date on which the grantor expects to announce the recipient(s) of the grant.
August 1, 2021
The length of time during which the grant money must be utilized.
2020-2025

Funding Details

The total projected dollar amount of the grant.
$1,000,000
A single grant opportunity may represent one or many awards. Some grantors may know in advance the exact number of awards to be given. Others may indicate a range. Some may wish to and wait until the application period closes before determining how many awards to offer; in this case, a value of “Dependent” will display.
Dependent
Grant opportunities representing multiple awards may offer awards in the same amount or in varied amounts. Some may wish to wait until the application period closes before determining per-award amounts; in this case, a value of “Dependent” will display.
Dependent
Certain grants require that the recipient(s) provide a letter of intent.
No
Certain grants require that the recipient(s) be able to fully or partially match the grant award amount with another funding source.
No
The funding source allocated to fund the grant. It may be either State or Federal (or a combination of both), and be tied to a specific piece of legislation, a proposition, or a bond number.
  • State

Funding Source Notes:

CalMoneySmart is a grant program created by Senate Bill 455 (Ch. 478, Stats. 2019), which established the Financial Empowerment Fund. Through this program, the Department of Financial Protection and Innovation (DFPI) offers grants of up to $100,000 for a total of $1M each fiscal year.

The manner in which the grant funding will be delivered to the awardee. Funding methods include reimbursements (where the recipient spends out-of-pocket and is reimbursed by the grantor) and advances (where the recipient spends received grant funds directly).
  • Advances & Reimbursement(s)

How to Apply

State agencies/departments recommend you read the full grant guidelines before applying.

Resources

For questions about this grant, contact:
Jeff Jelsma, 1-916-208-5716, calmoneysmart@dfpi.ca.gov

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