Economic Security
MDC develops programs that enable families and communities to weather hard times and sustain economic progress. For individuals, that means gaining access to the work supports that can help them rise out of poverty with resources to feed their families, grow their savings, and stay in school. For communities, it means establishing grassroots programs with the outreach capability to reach people who otherwise may not be taking advantage of the financial and educational supports available to them.
Through its Strategic Philanthropy practice, MDC also helps local and regional foundations more effectively deploy their assets by focusing on reducing poverty and promoting social equity, while helping communities develop their own assets.
Each year, North Carolina workers lose more than $200 million, up to $5,949 per family, because they fail to claim their Earned Income Tax Credit (EITC). The EITC can be a vital tool in helping people save for education and training, pay for transportation, start a small business or finance a home. Because most of the money would be spent locally, the state annually loses $250 million that could boost the economy of the most disadvantaged communities.
Rural America has abundant assets and is crucial to the economic and social vitality of the nation. Yet in rural areas, many of the basic services that contribute to people's quality of life, such as health care, transportation, and education, lag behind the rest of the United States. The brightest potential emerges when a critical mass of America's 55 million rural residents are stronger and more organized at advocating for the policies that serve their interests.
Every day, many low-income North Carolina families struggle to meet their basic needs and to move towards self-sufficiency. The economic recession has increased poverty and unemployment across North Carolina, particularly in counties hard-hit by job losses in traditional industries. Yet more than $2.3 billion in government supports such as tax credits, nutrition assistance, student financial aid, and health care remain unclaimed each year by eligible North Carolina families.
Many Americans work hard every day but do not earn enough to save and prosper, let alone take additional steps to move towards greater economic security, such as obtaining a postsecondary degree or credential. Far too many Americans struggle with long-term unemployment or underemployment caused by the Great Recession. Work supports are funded under existing government programs and help people and families who qualify make ends meet and move to self-sufficiency.
As MDC partners with communities to advance equity and opportunity, philanthropic capital is always a needed revitalizing force. Because philanthropy is largely immune to the political pressures of government and the bottom-line pressures of business, it is uniquely suited to provide long-term vision and change in our communities. Yet in many cases, charitable assets are deployed without intentional focus on equity and opportunity for all. It is imperative, then, that foundations develop the insight and tools necessary for long-lasting change.
