Platforms for Prosperity Fellowship
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Platforms for Prosperity Fellowship
CFED, with support from the Bank of America Charitable Foundation,
is soliciting applications from organizational leaders
interested in participating in a 10-month Fellowship to integrate
financial capability services into their workforce development programs.
Completed applications are due to rfp@cfed.org by 5:00pm ET on October 26, 2015.
About CFED
CFED empowers low- and moderate-income (LMI) households to build and preserve assets by
advancing policies and programs that help them achieve the American Dream, including buying a
home, pursuing higher education, starting a business and saving for the future. As a leading source
for data about household financial security and policy solutions, CFED understands what families
need to succeed. We promote programs on the ground and invest in social enterprises that create
pathways to financial security and opportunity for millions of people.
Established in 1979 as the Corporation for Enterprise Development, CFED works nationally and
internationally through its offices in Washington, DC; Durham, North Carolina; and San Francisco,
California.
About Bank of America Corporate Social Responsibility
At Bank of America, corporate social responsibility (CSR) is critical to fulfilling our core purpose of
making people’s financial lives better. A commitment to growing our business responsibly is
embedded in every aspect of our company, from our policies and practices to our services, products
and employee benefits. An important part of that commitment is forming strong partnerships across
sectors, including nonprofit organizations serving community needs, bringing our collective
networks and expertise to achieve greater impact. We’re proud of our employees’ volunteer efforts,
support of diversity and inclusion, and environmental and social responsibility. Across our
company, we’re focused on simplifying banking and investing, advancing better money habits and
making an impact in communities around the world. Learn more at www.bankofamerica.com/about
and follow us on Twitter at @BofA_News
Project Overview & Opportunity:
Through the Platforms for Prosperity Fellowship Program, CFED and the Bank of America
Charitable Foundation will work with a single cohort of six nonprofit leaders for ten months,
beginning in October of 2015. The purpose of the program is to integrate financial capability
services within workforce development programs to better support the well-being of low- and
moderate-income clients. Selected Fellows will be individuals in senior positions at nonprofit
organizations that currently deliver workforce development programs targeting low- to-moderate
1income (LMI) families or individuals. Selected Fellows should seek to or currently be integrating
financial capability services into their existing workforce development programs. Successful
candidates will receive a $15,000 grant to their organization, which will help offset their time and
catalyze new thinking and ways of doing business.
Over the course of the ten months in the project-based Fellowship, Fellows will participate in
facilitated trainings and peer learning events, including visits to financial capability innovators
across the country. Furthermore, Fellows will convene a group of financial capability integration
change-makers within their organization to design, implement, and coordinate services. Their
organizations will receive one-on-one technical assistance and support from CFED to complete a
series of implementation planning activities, ensuring their time in the Fellowship leads to
actionable changes in their programs. This entire technical assistance period will last for ten months
from start to finish. Ultimately, the Fellows will each launch financial capability integration projects
within their organizations’ workforce development programs that further the goal of helping
families achieve financial security. Throughout the project, Fellows will work with local Bank of
America volunteers to integrate financial capability services into their existing programs. This will
include developing strategies to incorporate Better Money Habits in their implementation efforts.
The Fellows will actively work with the volunteers and CFED to track and report impact usage of
Better Money Habits.
This Fellowship is part of CFED’s Platforms for Prosperity Initiative, through which we seek to
integrate financial capability and asset-building services into large-scale systems and structures to
have a large impact on LMI households. Through this Fellowship, CFED is seeking to build on
successes in integrating financial capability services into workforce development programs. By
working with senior leaders in the field, who will develop and lead senior integration teams, the
Fellowship will ensure that service delivery is optimally coordinated throughout the organization
and its partners to obtain maximum impact. The Fellowship will result in the creation of resources
that further the understanding of financial capability integration in a workforce context from which
the entire field can use and benefit. These resources will be made widely accessible to other
practitioners pursuing integration and to policymakers who are supporting it.
Successful Fellowship Candidates Meet the Following Criteria:
Fellowship Applicant:
Has 10+ years of job experience in workforce development programs
Holds a position to effect change within the organization (for example, vice presidents,
deputy directors, directors, department heads, and executives)
Applicant Organization:
Delivers workforce development programming that directly targets low-income families and
individuals, even if workforce development programming is part of a larger, more diverse
portfolio of programs or organizational goals
2 Has staff and organizational capacity to support the implementation of a newly devised
financial capability integration strategy
Serves a large number of clients annually
Has a clear mission statement or strategic plan that reflects this commitment to economic
empowerment of low-income individuals and families, within which the workforce
development program fits
Offers, or plans to offer, financial capability services. Such services include: financial
education, financial coaching, financial counseling, credit counseling, credit building, access
to safe and affordable financial products, free tax preparation, access to federal and state
benefits, incentivized savings programs, and asset ownership programs.1
This opportunity is limited to areas in which Bank of America is located. Please see a list of locations
in Appendix A.
Application Instructions
Individuals who are eligible for this Fellowship opportunity should complete the application on
pages 4-10. Applicants will be evaluated by a selection committee at CFED based on the following
criteria:
1. Organizational Experience & Capacity (30%)
2. Innovative Leadership (40%)
3. Impact Measurement (10%)
4. Integration Plan (20%)
Applications must be submitted by email to rfp@cfed.org by 5:00pm ET on Monday, October 26,
2015 to be considered.
CFED will make selections and notifications by December 1, 2015.
If you have any questions about the application or process, please contact Megan Bolado at
202-372-0974 or mbolado@cfed.org.
1For more information about these ten financial capability services refer to page 10 of Building Financial
Capability.
3Name of Fellow:
Organization Name:
SECTION 1: ORGANIZATIONAL EXPERIENCE & CAPACITY
1. Describe the programs that your organization provides, including the workforce
development programs, and how many total clients your organization served last year.
2. What is your organization’s mission, and how does this project align with that mission
and the organization’s strategic direction?
3. Use the table below to describe the current financial capability service(s), if any, you
provide through referrals, through partnerships, or in-house.
Current Services Client Participation Current Staff and
What financial capability How many clients participate Volunteers
services does your organization in this financial capability How many staff and
currently provide, and how do service(s) each year? (these volunteers are currently
you provide each (through may be duplicates) involved in providing this
referrals, partnerships, in- financial capability service?
house)?
Staff:
Volunteers:
Staff:
Volunteers:
4Staff:
Volunteers:
Staff:
Volunteers:
Staff:
Volunteers:
4. What funding do you currently have to support this integration project? What additional
funding will you need? How you will use the $15,000 grant to support your integration
plan?
SECTION 2: INNOVATIVE LEADERSHIP
5. Describe your role within your current organization and the opportunities for working
with other departments. What influence do you have to create or change programs that
span departments?
6. Why are you the best person within your organization to integrate financial capability
services within existing programs?
57. Express one situation in which you led organizational change. What were some of the
key outcomes from your leadership?
8. What organizations or activities are you involved with outside of your current position?
How might these activities enhance the skills you bring to the Fellowship?
9. If selected to be a Fellow, what would success look like? Specifically, what deliverables
will you produce through the Fellowship?
SECTION 3: IMPACT MEASUREMENT
10. How does your organization currently track success with respect to its workforce
development program(s)? Please include answers to the following questions in your
reply:
a. What outcomes are measured?
b. How is data collected?
c. What data systems are used?
d. How and to whom is data reported?
611. What financial capability outputs and outcomes, if any, are currently tracked?
12. Please share the types of data and results you’ll be able to share (client stories that
demonstrate impact, outputs from services, etc.) during this integration project.
SECTION 4: INTEGRATION PLAN
CFED and the Administration for Children and Families recently published “Building
Financial Capability: A Planning Guide for Integrated Services.” Much of the direct technical
assistance that Fellows will receive is structured around this resource. As you answer these
questions, please refer to Section 1 of the Guide, from which many of these questions were
devised.
13. Describe the existing workforce development program(s) into which you plan to
integrate or expand financial capability services?2
14. What are the most pressing financial issues experienced by clients in that program(s)?3
2Page 31 of Building Financial Capability lists considerations for selecting a program to target for
integration.
3Tool 1 of Building Financial Capability contains guiding questions that can help you assess these
challenges.
715. Use the table below to describe which financial capability services you will integrate,
how you will integrate them, and how many clients will receive them.
Financial Capability Service Delivery Partners Projected Number of
Service(s) Clients
What financial capability Which partner organizations, List the target number of
service(s) might you want to if any, do you plan to work clients to receive the
provide through this with to provide this service? service through September
project?4 2016
16. Articulate the value of integrating financial capability services within your workforce
development program(s).
4See Tool 3 and Appendix A of Building Financial Capability for information about different types
of financial capability services.
817. Describe the staff team who will ultimately support the implementation of this project
under your leadership. Please complete the table below and include a brief bio or resume
for each staff person with a key role as a supplement in your application email.
Staff Name &Title Current Role Integration Project Role
List the name and Briefly describe their current Briefly describe their role in
title of each staff role at your organization. planning, implementing, and/or
member with key evaluating the integration
roles in the project.
integration project.
18. If this project is successful, what changes will you see in the lives of your clients 12
months from now?5
5See Tool 2 of Building Financial Capability for guiding questions for selecting financial capability
outcomes, and see Appendix C of Building Financial Capability for a table with sample outcomes.
919. Is your organization a grantee of the Bank of America Charitable Foundation? If yes,
please list the last two funding cycles of funding received with amounts. (i.e., 2015 –
workforce development RFP, $10,000).
20. If you are a grantee for the Bank of America Charitable Foundation, please state the
market location (see list of locations Appendix A), along with Bank of America contact
name.
21. Does your organization currently engage volunteers? If so, please list the source(s) of
volunteers.6
22. Have you heard of BetterMoneyHabits.com?
Yes: No:
23. Have you used BetterMoneyHabits.com?
Yes: No:
6Fellows will have an opportunity to engage Bank of America employee volunteers. These
volunteers will work with Fellows to provide financial capability services.
10Appendix A: Bank of America Location Areas
State Local Market
AR Little Rock
AZ Phoenix
AZ Tucson
CA Los Angeles
CA San Francisco/East Bay
CA Silicon Valley
CA Inland Empire (Riverside/San Bernardino/Ontario)
CA Orange County
CA Sacramento
CA San Diego
CA Bakersfield/Visalia
CA Fresno/Central Valley
CA Napa, Marin & Sonoma Counties
CA Ventura/Santa Barbara
CO Denver
CT Hartford
CT Southern CT
DC Greater Washington
DE Wilmington
FL Miami
FL Ft. Lauderdale
FL Jacksonville
FL Orlando
FL Tampa Bay
FL West Palm Beach
FL Daytona/Cocoa Beach
11FL Ft. Myers/Naples
FL Sarasota/Manatee
FL Tallahassee
GA Atlanta
GA Augusta
IA Iowa
ID Idaho
IL Chicago
KS Wichita
MA Boston
MA Worcester
MD Baltimore
ME Maine
MI Detroit
MN Minneapolis/St. Paul
MO Kansas City
MO St. Louis
NC Charlotte
NC Triangle (Raleigh/Durham/Chapel Hill)
NC Triad (Greensboro/High Point/Winston-Salem)
NH New Hampshire
NJ New Jersey
NM New Mexico
NV Las Vegas
NV Reno
NY Long Island
NY New York City
NY Albany/Hudson Valley
NY Buffalo
12NY Rochester
NY Syracuse/Utica
OH Ohio
OK Oklahoma City
OK Tulsa
OR Portland/Vancouver, WA
PA Philadelphia
RI Rhode Island
SC Charleston/Hilton Head
SC Columbia
SC Greenville
SC Spartanburg
TN Nashville
TN Knoxville
TN Memphis
TX Dallas
TX Ft. Worth
TX Houston
TX Austin
TX San Antonio
TX El Paso
VA Hampton Roads (Virginia Beach/Norfolk)
VA Richmond
WA Seattle
WA Spokane
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