United Way Financial Stability powered by SPIN is in the second year of operation and is set up to assist families in gaining financial independence.
In the first year 45 volunteers were trained to do income taxes under the IRS sponsored VITA program (Volunteer Income Tax Assistance) faced with a goal of 165 tax returns, the volunteers completed close to 700 tax returns for the citizens of Lynn. According to SPIN’s IRS representative, that amount is an extraordinary number for a first year VITA site.
This VITA program returned close to $400,000 of EITC payments due to eligible families from Lynn. These funds more than likely trickled back into our Downtown's economy. Some families left the Financial Stability Center with a tax refund of over $9,000.00. A team of volunteers who were supported and trained by the United Way and SPIN completed the tax returns.
United Way’s Chief of External Affairs, Jeff Hayward said to the group of volunteers assembled to celebrate the accomplishments of the site, “…that by volunteering you were able to effect someone’s yearly income by 15% to 25% or more. “Think about it, if a family made $20,000 last year, and you helped them get an EITC refund of $5000.00, you increased their income by 25%”. There are not many other volunteering opportunities that give you that ability to impact a family’s life in this way. Thank you for all of your help”.
If you want to assist United Way or SPIN in preparing taxes or a variety of volunteering opportunities, contact SPIN’s Volunteer Coordinator Jim Harris at 781-598-9417.