AARP Foundation Collaboration with Innovation@cfed
Retirement income is only one of the many issues that face older Americans. Low-income households must overcome significant barriers that erode financial security, such as high-cost credit and mortgages, inadequate financial services, predatory lending and lack of workforce opportunities to build an equity nest egg to protect against crises like medical bills or job loss. — Robin Talbert, President, AARP Foundation
CFED is very pleased that the AARP Foundation has joined CFED as a key collaborator in innovation@cfed.
The CFED-AARP Foundation effort will focus on finding and promoting creative solutions to the financial challenges facing low-income Americans as they grow older. The overall goal of this collaboration is to expand opportunities for people from economically vulnerable populations to build their financial security throughout their lifetimes. AARP Foundation’s support will allow innovation@cfed to shine a light on issues relating to people as they grow older. Older Americans and their financial security form an important component of innovation@cfed’s overall constituency and goal: finding new and effective ways to expand economic opportunity for low-income Americans of all ages.
We are joining with CFED’s innovation@cfed initiative to identify and advance creative ways to improve access by low-income households to a lifelong continuum of asset-building and financial services. We are particularly interested in innovations that will benefit African-American and Hispanic women, among others, because they are underserved and often responsible not only for themselves, but for their families and children. — Vivian Vasallo, Target Cities & Financial Innovations, AARP Foundation
AARP Foundation support will enable innovation@cfed to enrich all three of its major initiatives in 2009: Innovators in Residence, Innovative Ideas and the 2009 Innovation Summit.
CFED will be selecting a small number of Innovators-in-Residence who will receive a $50,000 stipend and link to CFED resources, expertise and support to take their innovation to the next level of impact and scale. These resources include office and meeting space at CFED, connection to our technology platform and online resources and collaboration with CFED staff. At least one 2009 Innovator will focus on a workplan within the AARP Foundation’s focus.
CFED also will identify a number of promising innovative ideas and showcase them broadly. Champions of selected Innovative Ideas will receive inclusion in virtual and hard copy publications, featured coverage in the innovation@cfed website and an invitation to lead idea exchange at the 2009 Innovation Summit. Thanks to AARP Foundation’s support, one or more of the highlighted Innovative Ideas will address the needs of low-income Americans as they age.
The 2009 Innovation Summit will be held October 29, 2009 in Washington, DC. This innovation conclave will bring together a broad community of innovators with public, private and community leaders to introduce ideas, products, programs and policies that will create the future of economic opportunity. AARP Foundation will join with a wide range of participants to identify solutions to address today’s unprecedented economic uncertainty.
The innovation@cfed initiative is accepting applications for Innovators-in-Residence and submissions of Innovative Ideas until the deadline of April 3, 2009. With the creation of the CFED-AARP Foundation collaboration, we especially welcome applications and submissions among others that relate to the financial challenges of economically vulnerable populations as they grow older.
It is not necessary to take any special steps to apply for Innovator-in-Residence and Innovative Idea opportunities within the AARP Foundation’s interest area. All submissions will be reviewed in light of the AARP Foundation’s focus as well as the broader Selection Criteria for each program. Go to the Innovator-in-Residence webpage and the Innovative Ideas webpage for complete information, instructions and links to the online forms. Online forms must be submitted by April 3, 2009.
ABOUT AARP FOUNDATION
The AARP Foundation is AARP’s affiliated charity. Foundation programs provide security, protection and empowerment for older persons in need. Low-income older workers receive the job training and placement they need to rejoin the workforce. Free tax assistance and preparation is provided for low and moderate income individuals, with special attention to those 60 and older. The Foundation’s litigation staff protects the legal rights of older Americans in critical health, long-term care, consumer and employment situations. Additional programs provide information, education and services to ensure that people over 50 lead lives of independence, dignity and purpose. Foundation programs are funded by grants, tax-deductible contributions and AARP.
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