The MyMAF app is a pocket-size financial coach, giving America’s working poor families digital tools to build financial security.
13. Financial Sustainability – funding breakdown: please list a quick breakdown of your funding, indicating an estimated percentage that comes from each source.
individual donations or gifts _1_%
foundation or NGO grants _56_%
corporate contributions _32_%
grants or contracts _6_%
earned income (product or services sales, licensing, franchising, consulting, financing, etc.) _5_%
15. Growth Strategy: What are your main strategies for scaling your impact?
MAF uses two distribution strategies to scale MyMAF’s impact to a national level. First, we offer the app to clients served by our network of nonprofit partners who are replicating MAF’s programs in communities nationwide. Second, the app is made available to individuals seeking services from Mexican Consulates across the nation. By focusing on these two channels, MAF ensures that MyMAF reaches the communities for whom the app was specifically designed: low income, immigrant individuals not being served by mainstream financial resources.
16. Activating changemakers: How are you giving people the power to control their own destiny and support other people to become changemakers in their communities?
MAF’s mission is focused on empowerment: as people become visible, active, and successful in the financial mainstream, they gain control over their financial life and are able to reach their full financial potential. Looking to the future, MAF upholds a vision where people on the margins - the true experts - will lead the financial field toward the programs and solutions that fit their lives. In doing so, MAF is working to uplift our clients as changemakers who can revolutionize the financial field.
17. Awards & Recognitions: What awards or recognitions, if any, has the project received so far?
Launched in 2018, MyMAF has garnered wide client praise but has not yet received awards or recognitions. Under the leadership of Ashoka Fellow and MacArthur Genius Jose Quinonez, MAF’s continued progress in developing financial technology to meet the needs of low income and immigrant communities puts us in a strong position to draw recognition for the app.
18. Tell us about how collaborations and partnerships would enhance the scalability and impact of your project
Partnerships are at the heart of all of our work, and the same holds true of the MyMAF app. MAF’s two primary channels to scale, as noted above, are to distribute the MyMAF app through our national nonprofit partnership network and the system of Mexican Consulates across the U.S. Both represent known and trusted channels for extending our reach to more low income and immigrant communities across the country.