Grant Details
| Project Lead | Eddie Mungai |
|---|---|
| Program Area | Wealth Building & Protection |
| Amount | $2,674,500 |
| Year Awarded | |
| Duration | 7 years |
| Summary | MOCAFI is a financial technology platform for government and philanthropic organizations to provide individuals and families with cash assistance, mobile banking, and financial programming that creates pathways to wealth. The Junior Bonds Pilot Program in St. Louis aims to increase access to wealth-building assets for youth from families with low-to-moderate incomes by creating a managed fund for rising eighth graders to access when they are 18 years old and establishing a sustainable model for long-term impact. Investments can be kept in the market, used to buy a house, or put toward post-secondary education. JSMF’s investment will support the enrollment of 300 students in Normandy, Hazelwood, Ferguson/Florissant, University City, and Hancock Place School Districts in the program. |