Bigger and Better Business Strategic Partnerships Fall 2008
Project Seed The Sigma Economic Empowerment Development Project (Project S.E.E.D.) is a Bigger & Better Business program developed to focus on two important topics of interest: Financial Management and Home Ownership. This international focus provides useful information in each area that benefits the Phi beta Sigma membership, our families, and the communities in which we live. Project S.E.E.D. is designed to be implemented at all organizational levels by alumni and collegiate chapters. Each of the program s components are economically viable and relevant current concerns of our membership. For college students today, financial management is a vital and necessary skill to be mastered in the new millennium. With the rising cost in campus living tuition charges, book, and transportation, coupled with the decreasing funding sources for scholarships, loans, and grants financial management is no longer optional. It is required. Helping more low and moderate income Americans become homeowners is a national priority. Realizing the American Dream of owning a home, we seek to play a more important role in sharing positive information about the advantages of homeownership to our members, and help provide home ownership information that members can share within Suggested Topics 401(k) plans and other tax differed plans Budgeting your work, working your budget Building your child s education fund Building your financial portfolio on $25 a month Choosing the components of your financial portfolio Making the most of your retirement Successful money management Tax return preparation Suggested Topics Affordable housing design Bad credit,? You can still be a homeowner Enhancing your housing strategies First-time homebuyers seminar HUD Auctions Home ownership financing sources When to refinance your mortgage Successful steps to buying a home Understanding the income qualification process Suggested Speakers College professors with experience in financial management Consumer credit counselor Financial planner IRS representative or agent Loan officer Human resources specialist or generalist Suggested Speakers Affordable housing advocates Mortgage lenders HUD Representatives Realtors and brokers Fair housing organizations Residential home builders Public housing authorities Banking and finance professionals
Internal Revenue Service Volunteer Income Tax Assistance Program (VITA) With so many tax benefits available today, taxes can serve as the starting point leading to greater prosperity for many people. In 2000, the IRS changed its approach to meeting individual taxpayers needs for tax education, awareness and assistance by establishing an office called SPEC (Stakeholder Partnerships, Education and Communication). In 2008 IRS-SPEC has cultivated a partnership with Phi Beta Sigma Fraternity, Incorporated and share mutual goals in three key areas: Promoting tax understanding and awareness Preparing tax returns for free for low-to-moderate income people Encouraging personal asset building and selfsufficiency through tax incentives Mission Statement To assist taxpayers in satisfying their tax responsibilities through collaborative efforts with IRS-SPEC and thus creating and sharing value by informing, educating and communicating with members of the community Guiding Principles The International Headquarters of Phi Beta Sigma will strive to achieve this mission by: Supporting volunteer-based initiatives to address underserved community segments, primarily through awareness campaigns and free tax preparation Reaching out to our customers through trained Sigma personnel Supporting fully this partnership Leveraging our resources to reach rural as well as urban tax payers. Our Partnership Phi Beta Sigma Fraternity, Incorporated partnered with IRS-SPEC to make a difference in the community. In addition to strengthening local relationships and offering valuable services through our partnership, Phi Beta Sigma will: Bring dollars and other resources into the community Provide members and volunteers valuable personal skills and financial insights Satisfy community outreach goals or requirements In participation in the partnership, Phi Beta Sigma will be able provide the membership and community with information and assistance that need, want and value. Through this alliance with IRSSPEC, Phi Beta Sigma will reach the following audiences: Low to moderate income population Phi Beta Sigma will reach out to low to moderate individuals, offering them tax credit assistance that puts more money in their pockets. Older American population With the aging population which includes our membership, Phi Beta Sigma will reach out to this segment and with the assistance of IRS-SPEC bring tax help and information to a tax payer group that often lives on a fixed income.
General population As an international fraternity, Phi Beta Sigma in association w/irs-spec, can further expand its community objectives in terms of Bigger and Better Business by providing tax information to people who have just had a child, started their first job, bought a home, retired, etc. Members In terms of membership satisfaction and benefits this partnership w/irs-spec offers members of Phi Beta Sigma valuable personal skills and financial insights. Student Population With our links to the collegiate population and the academic community, our partnership with IRSSPEC can add an increased sense of volunteerism to the list of attributes held by these future taxpayers. Collegiate members could provide valuable tax assistance and information to their parents and peers while learning more about the federal system. Disabled Population In reaching out to the disabled community, Phi Beta Sigma with IRS-SPEC can make this population aware of tax credits, alternative media and other tolls available to assist them in understanding and meeting their tax responsibilities. The Strategy Although there is no specific formula for reaching these shared goals through the strength of this partnership, Phi Beta Sigma w/irs-spec commits to support local and national initiatives by offering support in the following areas: Technical tax expertise Research data based on tax filing statistics Customized tax education Marketing products and materials Access to local and national partnership networks Suggestions and support for building coalitions Ideas for local and national partnership models
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