Why do community foundations play such an important role in maximizing the opportunities presented to the field due to the expansions of the CTC & EITC?
Community foundations have a unique role to play in this work. With more than 750 community foundations across the country, the majority of U.S. residents have access to the work of a community foundation which positions them as valuable local resources for residents. Community foundations are uniquely positioned as the “last mile” between policy and implementation. They have existing relationships with community organizations, local leaders and partners that are trusted and well connected to residents living in underserved neighborhoods which can help to maximize opportunities like the CTC and EITC expansion.
There are three important touch-points that community foundations and their partners can work on at the local level:
1) reaching out to residents about enrollment
2) sharing stories on how these funds are benefiting children and their families
3) providing support with tax preparation
Together, these three touch-points can help communities make the most of these expanded tax credits and ensure the greatest amount of people can benefit from them.
At a national level, as public charities, community foundations are uniquely positioned to take a public policy advocacy role to further support these types of initiatives. Recently, a group of community foundations from across the country wrote a joint letter to Congress advocating for the expansion of the CTC and EITC tax credits. Coordinated by CFLeads, this letter highlighted the significant benefits these tax credits have brought to families and the incredible reduction in child poverty rates already being seen across the country.