2020 Fund

The 2020 goal is to overcome the reality discovered in 2013 - that taxpayers spend $700 million per year on poverty related costs for South St. Petersburg residents; and only 3% of it was going toward poverty reduction. 2020 objectives are to raise $78 million to expand poverty-reduction programs; and to prove the cost effectiveness of investing to reduce poverty. 

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Objective:

To raise $78 million in order to expland poverty-reduction programs, one investor at a time.

Partners’ Impact since 2014

  • $8 million in new funding raised by or with the support of the 2020 team 

  • $12 million in aligned funding committed by partners 

  • 32 organizations supported to raise funds 

The 2020 team launched the 2020 Fund, housed at the Community Foundation of Tampa Bay, to show that small amounts of money, strategically used and creatively combined with social capital, can go a long way to accelerate progress. The 2020 Fund has made 16 sub-grants to three priority program areas, which were matched and aligned with 15 contributions direct-to-service-providers by 2020 partners. Examples include: 

Commerce Park Workforce Development Project - 2020 provided funding to cover the life needs/costs of people training for new jobs at Commerce Park through a partnership by PERC, Mt Zion Human Services and Pinellas Technical College, with funding from the City of St. Petersburg and CareerEdge Funders Collaborative. This seed investment helped to create the St. Pete Works! initiative funded at $600,000 in 2018. 

Investing in pathways out of poverty Too many people are trapped in poverty because they can’t afford to cover the expenses tied to their plans to take their lives to a next level. Costs such as training & exam fees to qualify for higher-paying jobs, extra child care, car repairs, and gas money to travel to school or a new job can too often prevent people from completing a path out of poverty. The 2020 team has so far raised $214,380 to cover these small but prohibitive costs via sub-grants for 180 people enrolled in partners’ poverty-exit programs. The top 3 uses of help from 2020 fundraising have been education costs (e.g., training & certification fees and books); health insurance premiums and medicines; and utility bills, such as electricity.