The mission of MEDA is to achieve economic justice for San Franciscoís low- to moderate-income Latino families through asset development. Asset Development is the process of encouraging and supporting individuals and families to develop, accumulate and manage personal, social and material (especially financial) assets.In the long-term, we envision generations of Latino families that are a part of vibrant, diverse, proud and forward-thinking communities in which residents own their homes and businesses, and are actively engaged in the civic life of their neighborhoods and the institutions that affect their lives. We see these families as having sufficient assets to provide them and future generations with the opportunity to call San Francisco their permanent home.
For 38 years, MEDA has been committed to achieving economic justice for San Franciscoís low-and moderate-income families through asset development. Where there is systemic inequality and exclusion, asset development is a primary force through which economic justice is directly and indirectly advanced. This emphasis of asset development for economic justice has directly supported the presence of a strong working class Latino Community in San Francisco. In a matter of ten years, MEDA has gone from a caseload of 73 clients to providing services to over 4,000 low- to moderate-income families in 2011. MEDA has evolved into an important community development agenda setter and leader in San Francisco, especially in creating collaborations among community-based organizations. A snapshot of our significant five-year accomplishments within our core programs are discussed below: Homeownership Program- In the past five years (2006-2010), MEDAís Homeownership Program has served approximately 3,621 unduplicated clients. Through workshops and one-on-one consultations, we have helped create a total of 163 new homeowners and prevented 126 foreclosures. Business Development Program- In the past five years (2006-2010), MEDAís Business Development Program has served approximately 2,300 unduplicated clients. In the period of 2006 through 2010, MEDA BDP created 167 new businesses and retained 614 businesses through technical assistance. Through this work, 401 jobs were created and 1,200 jobs were retained in San Francisco. In 2010, approximately 2/3 of BDP clients were low-income Latina immigrant women. VITA Site Free Tax Prep Program- In its first three years of operation, our VITA Site Free Tax Preparation Program prepared over 7,000 returns that secured $9.6 Million for low income families in tax refunds. On average, families received over $1,200 per refund; the largest return amounted to $11,168. These refunds represent a significant return of income to our low-income residents, and provide opportunities for families to pay off debt, increase savings, or invest in asset building opportunities.
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