Economic Stability Grant Program

The Hampton Roads Community Foundation's Economic Stability Community Grants program aims to empower individuals facing barriers to achieve stability, self-sufficiency, and prosperity. This initiative directly aligns with the foundation's core mission and belief that the region thrives when all residents have opportunities and support to lead self-determined lives. By fostering economic stability, the foundation seeks to create an environment where children can learn and grow, individuals can pursue their aspirations, and the anxieties associated with economic insecurity are alleviated. The program focuses on a strategic approach to address systemic challenges that prevent individuals from achieving economic well-being. The target beneficiaries for this grant program are people with barriers to success and low-income individuals residing in South Hampton Roads, including specific counties in Virginia such as Accomack, Northampton, Franklin, and Isle of Wight, as well as the cities of Chesapeake, Norfolk, Portsmouth, Suffolk, and Virginia Beach. The overarching impact goal is to facilitate a pathway for these individuals to become stable, self-sufficient, and prosperous, thereby strengthening the entire region. The foundation's theory of change posits that by providing targeted support in key areas, individuals can overcome economic disadvantages and build a more secure future for themselves and their families. The program's priorities and focuses are clearly defined across three main areas. Firstly, it seeks to end homelessness by supporting programs that provide safe and affordable housing, along with supportive services to ensure long-term housing stability. Secondly, it emphasizes workforce readiness, training, and certification acquisition, connecting low-income individuals to employment opportunities, with a preference for programs that offer support to maintain employment for at least one year. Thirdly, the program promotes the development of sound financial education and savings programs to help low-income individuals build financial assets for long-term economic well-being. These strategic priorities aim to address the root causes of economic instability. The Hampton Roads Community Foundation outlines clear expected outcomes and measurable results for grant proposals. These include individuals and families experiencing homelessness being permanently housed in safe/affordable housing and remaining there for at least one year. Economically disadvantaged adults are expected to develop job-relevant skills and maintain employment for at least one year. Underemployed individuals should secure higher-wage positions post-training and remain employed for at least one year. Finally, economically disadvantaged individuals are expected to improve their financial literacy, participate in banking services, and increase their savings. Proposals must articulate their fit with these priorities, desired outcomes, and a plan for measuring program effectiveness in reaching these goals.