WASHINGTON, D.C. — Prosperity Now today announced the first implementation cohort of the ABC Initiative (Asset Building for Children), a national effort supported by $5 million from Citi Foundation to help families navigate existing and emerging child savings opportunities through trusted tax-time services.
The 15 selected nonprofit organizations all operate IRS-sponsored Volunteer Income Tax Assistance (VITA) programs. They will receive grants ranging from $25,000 to $150,000, along with training, technical assistance, implementation resources, peer learning and evaluation support as they prepare for the 2027 filing season.
The cohort was selected through a competitive national process focused on organizations’ VITA capacity, reach among families with children, readiness to integrate child savings into tax-time services, proposed implementation approach, partnerships, ability to learn and report, and budget feasibility. The portfolio also considers geographic representation and the opportunity to learn across different VITA operating models.
“Asset building from birth can change the trajectory of a child’s life and, over time, the economic trajectory of an entire family,” said Marisa Calderon, President and CEO, Prosperity Now. “Research shows that children from low- and moderate-income families with even a small amount saved for education were four times as likely to graduate from college as those without savings. The ABC Initiative recognizes that assets are more than money in an account. They are a foundation for opportunity, ownership and a path to the middle class.”
The ABC Initiative builds on Prosperity Now’s 2026 field learning on next-generation savings. Among surveyed organizations, 62% said step-by-step guidance or playbooks would help them engage effectively, 58% selected client-facing curriculum or materials, and 53% selected training or learning modules. Nearly half identified clear, actionable guidance on program rules and workflows as the single most valuable type of support over the next 12 months.
Prosperity Now began addressing that need on September 1 with a four-module train-the-trainer curriculum for VITA leaders and trainers. The curriculum covers the role of VITA in child savings, workflow integration, the Section 530A tax-time process, and account navigation, referrals and handoffs. Additional practitioner tools, localized resources, Spanish-language materials and live implementation support will continue to roll out this fall.
The selected cohort will come together at VITACon in Minneapolis on October 6 for implementation planning, peer learning and Citi Foundation-supported child savings track. During the 2027 filing season, participating organizations will integrate child savings information, education, referrals and next-step guidance into VITA services and help Prosperity Now identify practical approaches that can inform the broader field.
“Thousands of American families turn to VITA providers when they need trusted financial guidance. Through supporting the ABC initiative, we’re helping those providers connect families with child savings opportunities that can make a real difference over time. Starting to save early can help families build financial security, create new opportunities for their children and put future generations on a stronger path,” said Brandee McHale, Head of Community Investing and Development at Citi and President of the Citi Foundation.
ABC Initiative Grant Recipients – First Cohort
- Center for Family Life in Sunset Park — Brooklyn, NY
- Central Valley Community Resources, Inc. — Riverbank, CA
- Community Action Partnership of Kern (CAPK) — Bakersfield, CA
- Community Tax Alliance — Chicago, IL
- Cross Community, Inc. — Gaithersburg, MD
- Grow Brooklyn, Inc. — Brooklyn, NY
- Haitian Neighborhood Center, Inc. — North Miami, FL
- Inter-Lakes Community Action Partnership — Madison, SD
- International Rescue Committee, Inc. — San Diego, CA
- New Jersey Citizen Action Education Fund — Newark, NJ
- Pars Equality Center — San Jose, CA
- The Campaign Against Hunger — Brooklyn, NY
- United Way of Central Eastern California — Bakersfield, CA
- United Way of the Bay Area — San Francisco, CA
- VITA-GMS — Compton, CA
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