May 5, 2016
YPI celebrated the opening of the Financial Empowerment Window (Ventanilla de Asesoría Financiera), a program which provides free, culturally and linguistically competent financial counseling and education resources on-site at the Consulate General of Mexico, located in the Los Angeles Promise Zone. The Ventanilla is a partnership among the Consulate General General of Mexico, the Mayor's Office, yPI, Southern California Grantmakers, adn YPI's longtime partner, Citi.
[Photo: The ribbon cutting was led by Dixon Slingerland, Executive Director of YPI; Ana Guerrero, Chief of Staff for Mayor Eric Garcetti; Claudia Ruiz Massieu, Secretary of Foreign Affairs for Mexico; Carlos Sada Solana, Ambassador of Mexico to the United States; James Alva, SVP for Southern California of Citi Community Development; and Christine Essel, the President & CEO of Southern California Grantmakers]
In 2015-2016, the Citi Foundation and Citi Community Development have awarded nearly $1 million to YPI's programs serving low-income families in Los Angeles. Our partnership has resulted in programs that provide financial capabilities training, asset building, and matched savings accounts for families and students. This year, 1,269 individuals have received comprehensive financial education workshops in order to start saving for college. Over 360 matched savings accounts have been opened, representing more than $100,000 earmarked for college costs, home purchases and business start-ups. At YPI's Hollywood FamilySource Center alone, families that participated in asset building programs collectively increased their income more than $600,000 in 2015.
This month, YPI received the Citi Community Progress Makers award, a two-year initiative by Citi Foundation to support organizations that are transforming low-income communities. This two-year unrestricted grant of $500,000 will enable YPI to strenghten service delivery to low-income youth and families, and continue our mission to break the cycle of intergenerational poverty in Los Angeles. We value this inspiring partnership and look forward to continued service for our students and families.
Read the press release
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