The GRAD Foundation

UfundIt Pilot Program

UfundIt is our first social enterprise program of 2021. It is our belief that the benefits of the program will outweigh the costs to implement it and will prove to be a viable option for those who did not have a financial safety net when the pandemic started. This program will compliment the social programs which state and federal governments already have in place. UfundIt is expected to provide the interim financial support an individual may need until they receive their state and federal assistance. Through this self-funded supplemental income program, the participants are given the opportunity to take control of their financial future. 

Our process will include the following:

1. Goals

The whole reason we’ve decided to launch this program, is to provide low-income to moderate-income individuals a short-term financial safety net or bridge when unprecedented events effect their income. To come up with our goal, we looked at The GRAD Foundation's mission. "Find a need and fill it." The obvious need was financial assistance but how to fill that need was the question. With many households not having access to at least $400 in savings, it became obvious what needed change. Provide that segment of individuals with an option to cover food, rent, utilities, medical or whatever needs they may have in the event their income is interrupted again. 

2. Length of Time

With the current pandemic and looking back at previous worldwide financial issues such as the 2007 housing market fiasco. Our program will run for 18-24 months. This provides enough time to set up the program, enroll enough participants and allow the current pandemic or strain to have an adequate vaccine made available to everyone.

3. Testing Group

Whoever is considered moderate-to-low-income by the federal government standards. Many of our participants will be from the following industries: travel, hospitality and food service. Those were the segments of our country who appeared to be hit hardest financially.

4. Feedback

Evaluating this data, along with measuring how well we’ve reached our objectives, will provide the information we need to decide if the program was a success and should be continued. 

We will give participants the opportunity to share feedback throughout the process, as well as at the end through group discussions or surveys. This feedback from our participants will be important to measuring our social impact.

5. Address Challenges

Once the pilot program has been completed, we will address challenges and issues before we decide on sending out to the masses. Most importantly, we will make sure that the benefits and affordability of the program outweigh the costs to implement it and that it does not place another financial burden on its participants. By understanding the social benefit ROI and how quickly we can expect to see this impact social benefit from the participants.