Newark Asset Building Coalition

Description

The goal of The Newark Asset Building Coalition (NABC) is to reduce poverty for Newark, New Jersey area residents. The current strategy is to provide residents with free tax preparation so they can obtain EITC (Earned Income Tax Credit) refunds and financial education. NABC is in its fifth year of operation. Currently, it is acting under the fiscal sponsorship of The Association of Children of New Jersey. Until 2007, the Coalition was financed exclusively through a three-year start-up grant from the Children's Defense Fund. The Coalition was founded by a group of businesses, community-based organizations, and city officials to address the critical need of low- and moderate-income Newark residents to build assets. The Coalition established its original focus as the provision of free tax service to those eligible for earned income tax credits. That focus is expanding to include general financial education with a vision of providing a broad base of services that will facilitate families' ability to accumulate assets