[Congressional Record Volume 167, Number 215 (Tuesday, December 14, 2021)]
[Extensions of Remarks]
[Page E1370]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




         CELEBRATING THE 50TH ANNIVERSARY OF PREPARE + PROSPER

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                          HON. BETTY MCCOLLUM

                              of minnesota

                    in the house of representatives

                       Tuesday, December 14, 2021

  Ms. McCOLLUM. Madam Speaker, I rise today in recognition of the staff 
and volunteers of Prepare + Prosper as they celebrate their 50th year 
of service to Minnesota taxpayers. Prepare + Prosper is a nonprofit 
organization working to build financial health and expand access to 
quality tax and financial services for low- and moderate-income 
individuals and families. Through their efforts they have helped 
countless Minnesotans navigate the tax system, and in 2019 alone, they 
helped over 12,000 taxpayers file returns free of charge.
  Prepare + Prosper was founded in 1971 by a small group of economic 
justice-oriented accountants who began to provide free accounting 
services to small business owners. Soon after, they also started to 
provide free individual tax preparation for low- to moderate-income 
taxpayers. Over the years they have grown into an organization with 
just over 20 year-round staff members and more than 600 volunteers, and 
have expanded the reach of their free tax filing services and broadened 
their offerings to include financial coaching and access to financial 
products.
  Two of their current program offerings are Money Mentors and 
Financial Access in Reach (FAIR) Financial Solution. Money Mentors 
provides one-on-one mentoring with a financial coach and a network of 
peers to help participants create a plan for their financial future and 
ultimately reach their financial goals. Prepare + Prosper partnered 
with Sunrise Banks to reimagine banking with their FAIR Financial 
Solution program. This initiative gives low-income families access to 
checking and savings accounts as well as a small-loan program at low 
cost, while also providing an alternative to check-cashing operators 
and payday lenders.
  In the Twin Cities, more than 194,000 households are excluded from 
the financial mainstream according to the FDIC, meaning that they may 
have unpredictable income, lack of access to checking and savings 
accounts or to affordable credit or loans. On top of this, many 
households experienced financial stress brought on by the COVID-19 
pandemic or needed help to navigate the system and receive their 
Economic Impact Payments or Child Tax Credits.
  The staff and volunteers at Prepare + Prosper are an extremely 
valuable asset to the community as they help Minnesotans overcome these 
barriers that still exist when seeking greater economic opportunity. 
And as part of their effort to bridge these gaps, Prepare + Prosper 
engages in advocacy work to advance policies and practices that will 
directly benefit people with low- to moderate-incomes when it comes to 
tax credits, consumer protection and asset-building. They also partner 
with other community organizations to spread the word about their 
services and to reach those who may be eligible for benefits like the 
Child Tax Credit which helps lift families out of poverty.
  Prepare + Prosper is led today by Executive Director Suyapa Miranda 
who joined the organization in the spring of 2021 and will lead them 
into the next 50 years of service with a focus on closing the economic 
wealth gap in Minnesota by concentrating on developing and implementing 
programs that serve communities most impacted by systemic economic 
injustice.
  Madam Speaker, please join me in recognizing Prepare + Prosper as 
they celebrate 50 years of upholding their mission of building 
financial well-being through offering free tax preparation and 
financial services, and by changing systems to create economic 
opportunity for all.

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