1:1 Fund Pushes Past $1 million Raised to Support CSA Programs
By Carl Rist on 05/05/2016 @ 12:00 PM
The 1:1 Fund, an online platform created by CFED to make it easy for Children’s Savings Account (CSA) programs to raise matching funds from individual donors, had its best year in 2015. As our new 2015 Impact Report showcases, online donations to the 1:1 Fund rose to nearly $100,000 last year, a threefold increase over 2014. This includes more than $80,000 in donations received on Giving Tuesday, the single largest online fundraising campaign in the history of the 1:1 Fund. Another important accomplishment last year was the 1:1 Fund’s first cause-marketing partnership with Prudential, which generously contributed $400,000—the largest single donation in the 1:1 Fund’s history—in matching funds for child savers through its 4.01K Race for Retirement in Washington, DC, last November.
The 1:1 Fund partnered with Prudential for its Race for Retirement campaign, which significantly boosted our ability to match family contributions into their CSAs. By providing $25 to the 1:1 Fund for each person that registered for the 4.01K Race for Retirement, Prudential made it possible for us to secure more than a half-million dollars in 2015 to match the college dreams of low-income children across the country.
The 1:1 Fund grew in other exciting ways last year as well. Over the course of 2015, the number of CSA partners in local communities that the 1:1 Fund supports grew from eight to 12. Specifically, we welcomed St. Louis College Kids, Lansing SAVE, El Monte Promise Foundation’s Scholars Savings Program and Durham Kids Save to the 1:1 Fund family. Each of these new partnerships prove what we’ve known for some time: that with the help of advocates, the children’s savings movement can grow in communities large and small from coast to coast, putting higher education within reach for more families.
We’re looking forward to building on this momentum in 2016. We’re planning new features for the 1:1 Fund website to offer a better user experience and to make it even easier for our CSA partners to raise matching funds for the children in their communities. Stay tuned!