MISSION ASSET FUND
Programs
Immigrant Families Recovery Program
RECOVERY PROGRAM - TO SUPPORT PEOPLE IN THE TRANSITION FROM EMERGENCY RELIEF TO LONG-TERM RECOVERY, MAF LAUNCHED AN UNPARALLELED INITIATIVE SUPPORTING THE FINANCIAL RECOVERY OF IMMIGRANT FAMILIES EXCLUDED FROM FEDERAL COVID-19 RELIEF. THE ORGANIZATION'S IMMIGRANT FAMILIES RECOVERY PROGRAM, LAUNCHED AT THE END OF 2021, IS A $30M FUND TO PROVIDE A $400 GUARANTEED MONTHLY INCOME FOR UP TO 24 MONTHS TO 3,000 IMMIGRANT FAMILIES. GOING BEYOND CASH SUPPORT, THE PROGRAM PAIRS MONTHLY PAYMENTS WITH ACCESS TO THE ORGANIZATION'S CREDIT BUILDING PRODUCTS, FINANCIAL EDUCATION COURSES, ONE-ON-ONE COACHING, AND SELF-ADVOCACY TRAINING TO HELP PARTICIPANTS REBUILD AND RECOVER FASTER.GeographiesNot indicatedDatesJan 1, 2023 – Dec 31, 2023Source990No causes providedNo populations provided–$10.2MImmigration Loans and Scholarships
IMMIGRATION LOANS - IN 2017, THE ORGANIZATION EXPANDED THE PORTFOLIO OF PROGRAMS TO INCLUDE A ZERO-INTEREST IMMIGRATION LOAN PROGRAM AND SCHOLARSHIPS TO HELP INDIVIDUALS COVER THE COST OF CITIZENSHIP APPLICATIONS, DEFERRED ACTION FOR CHILDHOOD ARRIVALS (DACA), GREEN CARD, AND OTHER IMMIGRATION RELATED FEES. IN 2021, AGAINST THE BACKDROP OF THE COVID-19 PANDEMIC, NUMEROUS CHANGES IN IMMIGRATION POLICY PUT IMMIGRANT HOUSEHOLDS' FUTURE AND FINANCES UNDER IMMENSE STRAIN. THE ORGANIZATION EXPANDED ITS IMMIGRATION PROGRAM OFFERINGS, PROVIDING A SLIDING SCALE OF CREDIT-BUILDING LOANS, PARTIAL, AND FULL GRANTS TO COVER THE COST OF SEVEN USCIS APPLICATION FEES, INCLUDING HUMANITARIAN PAROLE FOR AFGHAN REFUGEES. IN LINE WITH THE COVID-RELATED CHANGES TO THE LENDING CIRCLES PROGRAM, THE ORGANIZATION EXTENDED ALL LOAN FLEXIBILITY OPTIONS TO APPLY TO ALL IMMIGRATION LOANS.GeographiesNot indicatedDatesJan 1, 2023 – Dec 31, 2023Source990No causes providedNo populations provided–$2.7MLending Circles Social Loan Program
LENDING CIRCLES - IN 2008, THE ORGANIZATION LAUNCHED THE LENDING CIRCLES SOCIAL LOAN PROGRAM, INTRODUCING A NEW STRATEGY ROOTED IN THE GLOBAL TRADITION OF GROUP LENDING THAT ENABLES LOW-INCOME FAMILIES TO BUILD CREDIT, REDUCE DEBT, AND IMPROVE THEIR FINANCIAL SECURITY. IN RESPONSE TO THE COVID-19 PANDEMIC, THE ORGANIZATION TEMPORARILY EMBEDDED GREATER FLEXIBILITY IN THE LENDING CIRCLES PROGRAM TO HELP CLIENTS WEATHER FINANCIAL CHALLENGES, INCLUDING OPTIONS TO IMPLEMENT A 3-MONTH LOAN FORBEARANCE, PUT A ONE-MONTH HOLD ON PAYMENTS, OR RESTRUCTURE LOAN PAYMENTS. IN PARTNERSHIP WITH A NATIONWIDE NETWORK OF NONPROFITS, THE ORGANIZATION PROVIDES LENDING CIRCLES THROUGH BOTH DIRECT PROGRAMS IN CALIFORNIA AND NATIONWIDE. PAIRED WITH TIMELY, ACTIONABLE, AND CULTURALLY-RELEVANT FINANCIAL EDUCATION, THE LENDING CIRCLES PROGRAM HAS BEEN WIDELY ACCLAIMED FOR ITS IMPACT, HELPING THOUSANDS OF PARTICIPANTS ACCESS SAFE AND AFFORDABLE CAPITAL, BUILD CREDIT, AND ESTABLISH A FOOTHOLD IN THE U.S. MAINSTREAM FINANCIAL SYSTEM.GeographiesNot indicatedDatesJan 1, 2023 – Dec 31, 2023Source990No causes providedNo populations provided–$2.5M
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