Specifications include, but are not limited to: The successful Responder will describe in their Proposal how they will provide activities related to family asset services and financial literacy empowerment through the provision of the following activities: FAIM Match Dollars: Responder should have a plan for expending the grant to allow as many savers as possible to acquire an asset of their choosing. Selection and Support of Partner Agencies: Responder should define an appropriate funding mechanism to allow for local agencies to make asset-building a priority and have adequate staff coverage to provide financial education, asset-specific education, on-going financial coaching with regular savings updates and support to accountholders. Training: Responder should outline and provide for robust training of Partner agencies and staff in Financial Education, Financial and Credit Coaching, and Asset Development Strategies. Collaboration and Coordination: Responder should detail on-going collective FAIM network support through regular meetings. Outreach Services: Responder should determine a marketing plan to publicize the program and funding opportunity, recruit eligible participants and encourage application. Reporting Requirements: Quarterly Data Reports: the fiscal agent must report quarterly, identifying: the number of partner organizations, the number of accounts by organization, and by planned use of account, the amount of savings and earned match for each participant account, the number of payouts by asset type, and the number of businesses, homes, vehicles, and educational services acquired and the amount of contributions to Minnesota 529 savings plans and emergency savings accounts. Financial Statement Requirements: responder is required to submit Financial Status Reports (FSRs) through the Enterprise Grants Management System (EGMS) for every month of the grant period, regardless of whether there are expenditures. The form must be submitted fifteen (15) days after the end of each month. Evaluation: A portion of funds appropriated may be expended on the evaluation of the Minnesota Family Assets for Independence program. Programming and services can stand alone and be integrated with existing services at a local level. A network of FAIM providers exists and is expected to be expanded and strengthened as a result of increased investment and changes in the statue. The STATE is seeking Proposals that are able to demonstrate experience in leading state-wide initiatives, have a track-record for cost-effective, accurate grants management and accounting, and have involvement in asset development strategies with corresponding financial literacy education.
