INDIANA – Foster Success has been awarded a $400,000 Springboard Prize for Child Welfare to expand its innovative Credit Build Program, a first-of-its-kind initiative designed to help young people transitioning out of foster care establish financial stability and long-term independence.
The national Springboard Prize is a two-year, cash award to pilot, test, or scale early-stage projects with the potential to improve the lives of children and families impacted by the child welfare system. The Aviv Foundation sponsors the prize as part of its mission to create systemic change.
“We welcomed applications from across the country that showcased a field alive with creativity and determination,” said Aviv Foundation’s Rena Johnson, Director of Philanthropy for Children and Families. “Amidst this powerful landscape of ideas, Foster Success stood out for their boldness, practicality, and transformative potential.”
Foster Success was selected for its scalable, youth-centered approach to bridging a critical gap in the child welfare system by providing access to safe, supportive credit-building tools and financial coaching.
“Too many young people leave foster care without the credit history or financial foundation needed to secure housing, find employment, or pursue higher education,” said Foster Success President and CEO Dr. Maggie Stevens. “This investment from the Aviv Foundation will allow us to expand Credit Build so that more teens and young adults who have been in foster care can confidently move toward economic independence.”
Launched in partnership with a Community Development Financial Institution (CDFI), Credit Build uses Save2Build loans, which help participants build credit while saving money. The program was designed in collaboration with young people who have lived experience in foster care to ensure it is both empowering and practical.
With support from the Springboard Prize, Foster Success will expand the Credit Build Program to serve at least 60 young people in Indiana over the next two years while also hiring additional staff to ensure trauma-informed, high-quality delivery and create trauma-informed financial coaching delivered by trained volunteers. The organization will develop a standardized coaching curriculum and a replication toolkit to prepare the program for national expansion, strengthen evaluation through Salesforce-powered data systems, and advocate for the integration of financial capability into child welfare transition planning nationwide.
“Our goal is to make credit-building a standard part of the foster care transition process across the country,” said Foster Success Senior Director of Impact and Programming Angel Crone. “By equipping young people with financial knowledge, coaching, and the opportunity to build credit, we are setting them up for long-term stability and success.”
For more information about Foster Success, visit www.fostersuccess.org. For more information about the Springboard Prize for Child Welfare, visit www.springboardprize.org.
