helps empower survivors of domestic violence toward financial self-sufficiency, and the East Hampton-based organization is looking to continue implementing its existing financial programs with a grant that administrators will compete for next week.
Capital One Bank’s first-ever Financial Literacy Challenge is meant to help improve financial education on Long Island, while encouraging money management best practices. More than $125,000 will be awarded.
The Retreat will present its financial education programs, which help survivors of domestic violence become financially independent through job readiness and budgeting skills, at the Hofstra University Club in Hempstead next Thursday from 6 to 8 p.m.
Through a competitive application process, Capital One selected 25 organizations that serve youth, adults, people with disabilities and special needs through 22 towns on Long Island. Each organization will present its program that will be implemented between September 2012 and May 2013 with a $5,000 seed grant. According to the rules, "Two grantees that demonstrate the greatest impact on the populations they serve will each be awarded an additional $15,000 contribution in the spring of 2013."
“We have seen first hand that financial abuse can have serious and long term effects on domestic violence victims," said , the executive director at The Retreat. "Victims can become trapped in a cycle of poverty, feel hopeless, and as a result, suffer unhealthy physical and psychological effects. This project gives our clients the tools to feel empowered and move towards financial independence. We are grateful to Capital One Bank for funding this critical initiative,” he said.
According to The Retreat, "three out of four Americans fail to connect domestic violence with financial abuse, despite evidence that lack of financial knowledge and resources is the number one reason victims of domestic violence remain in relationships with their abusers."
In a statement, the bank said, "Financial education is key to the economic security of families and individuals in communities across the country, and Capital One Bank believes financial literacy and money management skills are crucial building blocks for success."
In addition to The Retreat, the following organizations will be competing:
- Babylon High School Business & Family and Consumer Science Departments in Babylon
- Baldwin Public Library in Baldwin
- Common Ground Alliance, Inc. in Plainview
- Community Development Corporation of Long Island in Centereach
- Economic Opportunity Council Of Suffolk, Inc. in Patchogue
- Family and Children's Association in Mineola
- Family Residences and Essential Enterprises Inc. in Old Bethpage
- Family Service League in Huntington
- Girls Incorporated® of Long Island of Massapequa Park
- Girl Scouts of Suffolk County, Inc. in Commack
- Grenville Baker Boys & Girls Club in Locust Valley
- Half Hollow Hills Community Library in Dix Hills
- Harbor Day Care Center, Inc. in New Hyde Park
- Health and Welfare Council of Long Island in Hempstead
- Hispanic Brotherhood of Rockville Centre, Inc. in Rockville Centre
- Hofstra University in Hempstead
- Literacy Nassau of Freeport
- Long Island Housing Partnership, Inc. in Hauppauge
- Mercy Haven, Inc. in Islip Terrace
- Middle Country Library Foundation in Centereach
- Patchogue-Medford Library in Patchogue
- The Disability Opportunity Fund in Albertson
- The Long Island Home d/b/a South Oaks Hospital in Amityville
- Vincent Smith School of Port Washington in Port Washington