Income

Income: Increase the number of families earning, accessing and managing an adequate income

Income

OUR CHALLENGE: Unemployment rates have hit record highs across the country in the last year – the highest they have been in 27 years.1 In Illinois, 2.4 million people are working – yet still unable to manage a basic budget and nearly 1.28 million residents living in the Chicago area are on the brink of poverty.2

For those who are fully employed it is often a stretch to cover the basic costs required to support families. In Chicago, 25% of families are so financially strained that they have cut back on food, clothing, medical care, and other essential components of a healthy lifestyle.3 These families know first hand that living one paycheck away from disaster is no way to live. When one quarter of families are unable to clothe, house, and feed their children at an affordable price, we know our community’s basic needs are endangered, and we are all more vulnerable to the detrimental effects of poverty.

OUR APPROACH: United Way is leading a financial stability initiative that brings together community experts to determine the right mix of programs that, together, can give people the opportunity to become financially stable. United Way provides funds to the best programs across the region that collectively offer job training and placement and access to income supports such as state and federal benefits for working families. These programs are complemented by educational services that teach people about credit, saving and investment, as well as access to tax preparation services.

OUR STRATEGY:

  • Increase the number of people attaining and retaining employment
  • Increase the number of people accessing the Earned Income Tax Credit, Temporary Assistance for Needy Families (TANF), child care subsidies, and children’s health insurance programs
  • Increase the number of people lowering their financial risk
  • Increase the number of people building their savings and choosing mainstream banking

OUR INVESTMENT: United Way of Metropolitan Chicago invested nearly $5M in our region to help families become financially stable in FY 2009.

Income: Our Agency Partners
  1. “Bridging the Gaps in Illinois”, www.bridgingthegaps.org: “We measure a basic family budget by tallying up the local costs of basics, including low-cost housing, health care, child care, transportation, food, other necessities, and taxes. This does not include savings, debt repayment or frills like new clothes.”
  2. Social Impact Research Center, Report on Poverty
  3. Chicago Metropolis 2010