About Us
MyMoneyNashville.org is an outreach of Nashville Alliance for Financial Independence (NAFI). NAFI's goal is to help working individuals and families to “Earn It. Keep It. Save It.” We know that assets are the key to long-lasting financial independence. Assets are what financially stable families use to stay afloat during unexpected financial crises.
For many families, tax time may be one of the only chances they have each year to put some money into savings, which is a critical step towards achieving greater financial stability.
To increase the lump sum refund available for asset building, NAFI conducts a citywide campaign promoting the Earned Income Tax Credit (EITC). The EITC is one of the most effective anti-poverty tools in America. No social program or combination of social programs lifts more children out of poverty than the EITC (Brookings Institute). Yet, in Davidson County, an estimated $20-25 million in EITC refunds are left unclaimed each year. In 2009, the EITC was as much as $4,800!
VITA (Volunteer Tax Assistance) sites are our vehicles to help working families claim the EITC and receive these asset building resources. VITA sites provide free tax preparation for households earning $42,000 or less and ensures that they claim all their eligible tax credits. With the average cost of tax preparation being $150, our sites are already helping working families to keep their hard earned money. In 2009, our partnering 16 VITA sites served over 7,000 families, collected $11.4 million in total refunds and $3.4 million in EITC refunds.
In addition, we work with our partners to provide financial education year-round through a program called My Money Plan.
NAFI also comes alongside organizations and companies interested in improving or implementing a financial education program. Through our partners, we are able to provide technical assistance, free training, and new products and services to enhance existing financial education efforts.
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