Expanded Program Moves More Than 85,000 New Yorkers Toward Financial Stability, a 57% Increase Over Previous Filing Year
Media Contacts:
Shruti Sehgal, shruti.sehgal@berlinrosen.com, 646-200-5283
Carol Schneider, cschneider@foodbanknyc.org, 212-566-7855, ext. 2231
May 5, 2015–New York, NY – Food Bank For New York City, the city’s major hunger-relief organization, put a record $141 million in tax refunds and credits back into the pockets of hardworking New Yorkers this year through its Free Tax Assistance & Financial Services program, according to new data released today.
This represents a 66 percent increase over the previous filing year. In addition, the program moved more than 85,000 New Yorkers toward financial stability, a 57 percent increase in the number of returns filed.
The expanded reach was aided by the reopening of Food Bank’s flagship Tax & Financial Services Center in Harlem, as well as more than 120 free full-service and drop-off tax sites citywide, with the support of the New York City’s Department of Consumer Affairs (DCA) and Food Bank’s longtime public and private supporters.
“Our free tax assistance and financial services program not only serves individuals who need it most, it provides a shot in the financial arm for the communities in which they live,” said Margarette Purvis, President and CEO of Food Bank For New York City. “The record $141 million in tax benefits and credits that we were able to return to hardworking New Yorkers this tax season will help them put food on the table while boosting the local economy to foster growth and job creation. We are proud to have dedicated partners and supporters help us provide these crucial tools toward that end.”
“The City is proud to have funded $1.7 million for Food Bank For New York City’s expansion of its tax preparation services, as part of the Administration’s new effort to increase participation in free tax prep and the Earned Income Tax Credit,” said DCA Commissioner Julie Menin. “Food Bank’s dedication, tremendous accomplishments and close collaboration with DCA were crucial to helping the City meet and exceed its ambitious goal of serving 50% more eligible filers with free tax preparation in the 2015 tax season. We congratulate Food Bank and our other partners on their success.”
In addition to the Free Tax Assistance & Financial Services program, Food Bank also supports New Yorkers during tax time with Virtual Volunteer Income Tax Assistance (VITA), which connects low-income filers with a free off-site tax preparer via technology, requiring fewer frontline resources.
“Through Virtual VITA technology, Food Bank For New York City is connecting harder-to-reach populations – including more than a thousand public housing residents – with the opportunity to claim EITC, the Earned Income Tax Credit, which provides eligible working families with on average $2,500 that can be used to save, plan and pay-off bills,” said Bob Annibale, Citi’s Global Director of Community Development and Inclusive Finance.
Recognized by the IRS as one of the largest coordinators of civilian tax assistance in the country, Food Bank For New York City provides free tax assistance services at locations citywide. Food Bank’s program also serves a gateway for the city’s low-wage workers to access other anti-poverty resources including access to affordable healthcare, SNAP, and other benefits through Food Bank and its citywide network of charities, helping more working families achieve greater financial stability and food security over the long-term.
Last year, Food Bank prepared more than 54,000 returns, resulting in $85 million in tax refunds for working families. Since 2002, Food Bank’s tax program has put more than $900 million back into the pockets of the working poor. In 2015, the program returned a whopping $141 million to hard working New Yorkers whose 2014 earnings were no more than $53,000.
Through its free tax program, Food Bank helps more working New Yorkers obtain refunds and credits that can boost their overall financial stability, including the Earned Income Tax Credit (EITC), which can be worth up to $8,293 for working families. The EITC is widely considered one of our nation’s best and most effective anti-poverty programs – yet every tax season, one in five tax filers who qualifies does not apply for it. In New York City alone, this unclaimed EITC leaves hundreds of millions of dollars on the table and out of the pockets of New Yorkers every year.
However, with the support of nearly 300 certified volunteer tax preparers who donate their time to Food Bank’s tax program every year, more New Yorkers were able to receive the refunds and credits to which they are entitled. In 2015, volunteer tax preparers logged over 8,000 hours of service.
Food Bank For New York City’s Free Income Tax Services are still available to low-income New Yorkers who may need assistance with their income tax filing for this year and previous years. For more information about Food Bank For New York City’s Free Tax Assistance & Financial Services Program, visit www.Foodbanknyc.org/Financialempowerment
About Food Bank For New York City
Food Bank For New York City has been the city’s major hunger-relief organization working to end hunger throughout the five boroughs for more than 30 years. Nearly one in five New Yorkers relies on Food Bank for food and other resources. Food Bank takes a strategic, multifaceted approach that provides meals and builds capacity in the neediest communities, while raising awareness and engagement among all New Yorkers. Through its network of more than 1,000 charities and schools citywide, Food Bank provides food for more than 63 million free meals for New Yorkers in need.
Food Bank For New York City’s income support services, including food stamps (also known as SNAP) and free tax assistance for the working poor, put more than $100 million each year into the pockets of New Yorkers, helping them to afford food and achieve greater dignity and independence. In addition, Food Bank’s nutrition education programs and services empower more than 275,000 children, teens and adults to sustain a healthy diet on a low budget. To learn more about how you can help, please visit foodbanknyc.org. Follow us on Facebook (FoodBank4NYC), Twitter (@FoodBank4NYC), and Instagram (FoodBank4NYC).