Opportunity Information: Apply for CDFI 2010 FEC
Apply for CDFI 2010 FEC
- The Community Development Financial Institutions in the community development sector is offering a public funding opportunity titled "Financial Education and Counseling Pilot Program 2010" and is now available to receive applicants.
- Interested and eligible applicants and submit their applications by referencing the CFDA number(s): 21.010 Financial Education and Counseling Pilot Program.
- This funding opportunity was created on Jun 4, 2010 and posted on Jun 4, 2010.
- Applicants must submit their applications by Jul 8, 2010. (Agency may still review applications by suitable applicants for the remaining/unused allocated funding in 2026.)
- The funding agency has allocated a total of $3,150,000.00 to eligible and selected applicants.
- Each selected applicant is eligible to receive up to $3,150,000.00 in funding.
- The number of recipients for this funding is limited to 1 candidate(s).
- Eligible applicants include: Others (see text field entitled Additional Information on Eligibility for clarification).
- In order to be deemed an Eligible Organization, the Applicant entity must be a certified Community Development Financial Institution or CDFI, a U.S. Department of Housing and Urban Development approved Housing Counseling Agency, a Credit Union, a governmental entity (State government, Local government or Tribal government), or a collaborative effort of two or more such entities. In addition, the Applicant entity must demonstrate that it meets certain minimum threshold requirements with respect to its experience and ability to provide Financial Education and Counseling Services resulting in documented Positive Behavioral Changes to Prospective Homebuyers. More detailed information can be found at the link provided later in this synopsis.
[Watch] Creating a grant proposal using the step-by-step wizard inside the applicant portal:
Opportunity Summary:
The Financial Education and Counseling (FEC) Pilot Program 2010 was a discretionary federal grant opportunity run by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund. Authorized under Section 1132 of the Housing and Economic Recovery Act of 2008 (Public Law 110-289), the program was designed as a pilot to identify what kinds of financial education and counseling actually lead to measurable, positive behavior changes for financial empowerment, especially among prospective homebuyers. Beyond helping individual participants, the larger intent was to develop replicable program models that organizations could use to deliver effective, evidence-based financial education and counseling services.
The funded work centered on providing a broad range of pre-homeownership financial education and counseling supports. The program emphasized improving a prospective homebuyer's financial knowledge and decision-making, helping people build practical skills like creating and sticking to monthly budgets, building personal savings, planning or financing major purchases, reducing debt, improving overall financial stability, and setting and reaching concrete financial goals. A major focus was also placed on credit: grantees were expected to help participants understand how credit histories influence credit scores and support participants in improving their creditworthiness. In addition, the program sought to expand understanding of savings options for both short-term needs and longer-term goals, tying day-to-day financial management to sustainable homeownership readiness.
For fiscal year 2010, Congress appropriated $4.15 million total for the pilot program, but the structure of the funding round was unusual. Of that total, $3.15 million was specifically set aside for an organization located in Hawaii, and the CDFI Fund limited new applications in FY 2010 exclusively to Hawaii-based organizations competing for that set-aside. The remaining $1 million was not opened for new competition because the CDFI Fund had received more than 200 applications in the FY 2009 round, and many strong proposals could not be funded. Instead, the agency planned to award that leftover $1 million to up to five organizations that had been finalists in FY 2009 but did not receive awards.
The published FY 2010 opportunity (Funding Opportunity Number: CDFI-2010-FEC; CFDA: 21.010) listed an expected award count of one for the Hawaii competition, with an estimated total funding amount of $3,150,000. The award ceiling and floor were both set at $3,150,000, meaning the competition was structured around a single grant of that exact amount rather than a range of award sizes. No cost sharing or matching requirement was indicated.
Eligibility was limited to certain types of mission-aligned institutions and public entities. Applicants had to be a certified CDFI, a HUD-approved Housing Counseling Agency, a Credit Union, a governmental entity (state, local, or tribal), or a collaborative effort of two or more such entities. Beyond fitting one of these categories, applicants also needed to demonstrate minimum threshold qualifications showing they had the experience and capacity to deliver financial education and counseling services and to document resulting positive behavioral changes among prospective homebuyers, reinforcing the pilot program's emphasis on measurable outcomes rather than simply offering classes or counseling sessions.
Key dates for the FY 2010 posting were June 4, 2010 (posted/created) with an application deadline of July 8, 2010, and the opportunity archived on July 9, 2010. For assistance accessing the full announcement, the notice provided a contact at the CDFI Fund: Jay Santiago at (202) 662-8024, along with the CDFI Fund Help Desk.
Financial Education and Counseling (FEC) Pilot Program 2010 - FAQs
What is the Financial Education and Counseling (FEC) Pilot Program 2010?
The Financial Education and Counseling (FEC) Pilot Program 2010 was a discretionary federal grant opportunity administered by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund. It was designed as a pilot initiative to test and identify financial education and counseling approaches that actually produce measurable, positive behavior changes related to financial empowerment, especially for prospective homebuyers.
What law authorized the FEC Pilot Program?
The program was authorized under Section 1132 of the Housing and Economic Recovery Act of 2008 (Public Law 110-289).
What was the main goal of the pilot program?
The main goal was to determine which types of financial education and counseling lead to measurable, positive behavior changes for financial empowerment among prospective homebuyers. A broader goal was to develop replicable program models that organizations could use to deliver evidence-based services.
Who was the program intended to help?
The program focused on prospective homebuyers, with an emphasis on building the financial knowledge, skills, and behaviors associated with sustainable homeownership readiness and financial stability.
What kinds of services and topics were expected to be supported by grant funding?
Funded work centered on a broad range of pre-homeownership financial education and counseling supports, including improving financial knowledge and decision-making, building practical budgeting skills, building personal savings, planning or financing major purchases, reducing debt, improving overall financial stability, and setting and achieving concrete financial goals.
Was credit improvement part of the program's focus?
Yes. A major focus was on credit. Grantees were expected to help participants understand how credit histories influence credit scores and to support participants in improving their creditworthiness.
Did the program address savings and longer-term financial goals?
Yes. The program sought to expand understanding of savings options for short-term needs and longer-term goals, connecting day-to-day financial management to sustainable homeownership readiness.
Which federal agency ran the grant opportunity?
The opportunity was run by the U.S. Department of the Treasury's Community Development Financial Institutions (CDFI) Fund.
What was the total amount Congress appropriated for the FEC Pilot Program in FY 2010?
Congress appropriated $4.15 million total for the FY 2010 pilot program.
How was the FY 2010 funding structured?
The FY 2010 funding round had an unusual structure. Of the $4.15 million total, $3.15 million was set aside specifically for an organization located in Hawaii, and new applications in FY 2010 were limited exclusively to Hawaii-based organizations for that set-aside. The remaining $1 million was not opened for new competition and was instead planned to be awarded to up to five FY 2009 finalists that did not receive awards.
Were new applications accepted nationwide in FY 2010?
No. The CDFI Fund limited new applications in FY 2010 exclusively to Hawaii-based organizations competing for the Hawaii set-aside.
Why was the remaining $1 million not open for new competition?
The CDFI Fund reported that it received more than 200 applications in the FY 2009 round, and many strong proposals could not be funded. The agency planned to award the leftover $1 million to up to five organizations that had been finalists in FY 2009 but did not receive awards.
What was the expected number of awards for the FY 2010 Hawaii competition?
The published FY 2010 opportunity listed an expected award count of one for the Hawaii competition.
How much funding was available for the Hawaii competition?
The estimated total funding amount for the Hawaii competition was $3,150,000.
What were the minimum and maximum award amounts?
Both the award ceiling and the award floor were set at $3,150,000. This means the competition was structured around a single grant award of exactly $3,150,000 rather than a range of possible award sizes.
Was there a cost sharing or matching requirement?
No cost sharing or matching requirement was indicated in the published FY 2010 opportunity.
What is the Funding Opportunity Number (FON) for this program?
The Funding Opportunity Number listed for this opportunity was CDFI-2010-FEC.
What is the CFDA number for this program?
The CFDA number listed for this opportunity was 21.010.
Which types of organizations were eligible to apply?
Eligibility was limited to certain mission-aligned institutions and public entities. Applicants had to be one of the following: a certified CDFI, a HUD-approved Housing Counseling Agency, a Credit Union, a governmental entity (state, local, or tribal), or a collaborative effort of two or more such entities.
Could collaborative applications be submitted?
Yes. A collaborative effort of two or more eligible entities was listed as an eligible applicant type.
Beyond organizational type, were there additional qualifications applicants had to meet?
Yes. Applicants also needed to demonstrate minimum threshold qualifications showing they had the experience and capacity to deliver financial education and counseling services and to document resulting positive behavioral changes among prospective homebuyers. This reflects the pilot program's emphasis on measurable outcomes rather than simply offering classes or counseling sessions.
What outcomes did the program emphasize?
The program emphasized measurable, positive behavior changes tied to financial empowerment and homeownership readiness, rather than participation counts alone.
When was the FY 2010 opportunity posted?
The FY 2010 opportunity was posted/created on June 4, 2010.
What was the application deadline?
The application deadline was July 8, 2010.
When was the opportunity archived?
The opportunity was archived on July 9, 2010.
Who could be contacted for help or more information about the announcement?
The notice listed a contact at the CDFI Fund: Jay Santiago at (202) 662-8024, along with the CDFI Fund Help Desk.
What makes this a "pilot" program?
It was explicitly designed to identify and test which financial education and counseling approaches lead to real, measurable changes in participant behavior and to generate replicable program models that could be used by other organizations.
Browse more opportunities from the same agency: Community Development Financial Institutions
Browse more opportunities from the same category: Community Development
Next opportunity: Georgia Conservation Innovation Grants
Previous opportunity: Judicial Independence and Legal Empowerement
USGrants.org Applicant Portal:
Are you interested in learning about about how to apply for this government funding opportunity? You can create a free applicant account and receive instant access to our applicant portal that many business owners like you have benefited from.
Apply for CDFI 2010 FEC
[Watch] how do funding administrators access proposals?
Applicants also applied for:
Applicants who have applied for this opportunity (CDFI 2010 FEC) also looked into and applied for these:
| Funding Opportunity |
|---|
| Cemetery Apply for VA GRANTS 06302011 001 Funding Number: VA GRANTS 06302011 001 Agency: VA National Cemetery Administration Category: Community Development Funding Amount: $46,000,000 |
| Promoting Youth Civic Engagement (PYCE) Apply for 279 10 031 Funding Number: 279 10 031 Agency: Egypt USAID Cairo Category: Community Development Funding Amount: Case Dependent |
| Rosie the Riveter Youth Partnership Program Apply for NPS NOIRORI100021 Funding Number: NPS NOIRORI100021 Agency: National Park Service Category: Community Development Funding Amount: $30,000 |
| Azerbaijan New Media Project Apply for RFA 112 10 000002 Funding Number: RFA 112 10 000002 Agency: Georgia USAID Tbilisi Category: Community Development Funding Amount: $4,000,000 |
| North Caucasus NGO Public Advocacy Project Apply for USAID RUSSIA DI 10 0006 RFA Funding Number: USAID RUSSIA DI 10 0006 RFA Agency: Russia USAID Moscow Category: Community Development Funding Amount: $3,800,000 |
| A HOME AWAY FROM HOMELESSNESS Apply for NPS NOI H8142100509 Funding Number: NPS NOI H8142100509 Agency: National Park Service Category: Community Development Funding Amount: Case Dependent |
| Valley Forge NHP strengthening community stewardship Apply for NPS 10 NERO 0046 Funding Number: NPS 10 NERO 0046 Agency: National Park Service Category: Community Development Funding Amount: $30,000 |
| FY 2011 CDFI Program Financial Assistance Technical Assistance Awards Apply for CDFI 2011 FATA Funding Number: CDFI 2011 FATA Agency: Community Development Financial Institutions Category: Community Development Funding Amount: $2,000,000 |
| Supporting Civic Activism and Advocacy in the Middle East and North Africa Apply for NEAPI 10 AW 028 MENA 101810 Funding Number: NEAPI 10 AW 028 MENA 101810 Agency: Middle East Partnership Initiative Category: Community Development Funding Amount: $1,250,000 |
| Egyptian Civil Society Reform Initiatives Apply for NEAPI 10 AW 030 MENA 102010 Funding Number: NEAPI 10 AW 030 MENA 102010 Agency: Middle East Partnership Initiative Category: Community Development Funding Amount: $200,000 |
| FY 2011 Native American CDFI Assistance Program Apply for CDFI 2011 NACA Funding Number: CDFI 2011 NACA Agency: Community Development Financial Institutions Category: Community Development Funding Amount: $750,000 |
| Capacity Building for Community Development and Affordable Housing Grants Apply for FR 5415 N 36 Funding Number: FR 5415 N 36 Agency: Department of Housing and Urban Development Category: Community Development Funding Amount: Case Dependent |
| Vancouver National Historic Reserve Group Tour Program Apply for NPS NOI FOVA FY11 J9430110001 Funding Number: NPS NOI FOVA FY11 J9430110001 Agency: National Park Service Category: Community Development Funding Amount: $75,000 |
| Womens Peace Campaign Project Apply for AID 623 11 000001 00 Funding Number: AID 623 11 000001 00 Agency: Kenya USAID Nairobi Category: Community Development Funding Amount: $1,700,000 |
| PDCM Synopsis 01 Apply for PDCM SYNOPSIS 01 Funding Number: PDCM SYNOPSIS 01 Agency: IVV Test Agency Category: Community Development Funding Amount: Case Dependent |
| Establishment of Groundwork Portland Apply for NPS NOI WASO 11 0001 Funding Number: NPS NOI WASO 11 0001 Agency: National Park Service Category: Community Development Funding Amount: Case Dependent |
| Afro Colombian and Indigenous Program (ACIP) Apply for RFA 514 11 000001 Funding Number: RFA 514 11 000001 Agency: Colombia USAID Bogota Category: Community Development Funding Amount: $61,400,000 |
| Community Action Initiative Project (CAIP) in Kosovo Apply for 167 11 004 Funding Number: 167 11 004 Agency: Hungary USAID Budapest Category: Community Development Funding Amount: $7,500,000 |
| Develop and implement workshops and conferences for the Refuge Friends Group Apply for 93261B0032 Funding Number: 93261B0032 Agency: Fish and Wildlife Service Category: Community Development Funding Amount: $893,000 |
| Community Connect Grant Program Apply for RDRUS CC 2011 Funding Number: RDRUS CC 2011 Agency: Utilities Programs Category: Community Development Funding Amount: $1,500,000 |
Grant application guides and resources
It is always free to apply for government grants. However the process may be very complex depending on the funding opportunity you are applying for. Let us help you!
Apply for Grants
Premium leads for funding administrators, grant writers, and loan issuers
Thousands of people visit our website for their funding needs every day. When a user creates a grant proposal and files for submission, we pass the information on to funding administrators, grant writers, and government loan issuers.
If you manage government grant programs, provide grant writing services, or issue personal or government loans, we can help you reach your audience.
Subscribe to Leads
Request more information:
Would you like to learn more about this funding opportunity, similar opportunities to "CDFI 2010 FEC", eligibility, application service, and/or application tips? Submit an inquiry below:
Don't forget to subscribe to our grant alerts mailing list to receive weekly alerts on new and updated grant funding opportunities like this one in your email.