Photo above: Resident Shauna Bannani, RISE program participant.
One year into the RISE Program at The Spire, participating families are reporting stronger financial stability, growing savings, and greater confidence in navigating unexpected expenses.
The two-year pilot program, a partnership between Affordable Homes & Communities (AHC) and the Episcopal Church of the Resurrection, provides 11 households at The Spire, an AHC community in Alexandria, with $250 per month in rent relief. Participants also take part in financial literacy classes with partner Britepaths, while building savings through a matched savings incentive.
“The RISE program continues to go very well for our residents. So far, participants have increased personal savings, made progress toward long-term financial goals, and had the ability to manage unexpected expenses, such as car property taxes and accident-related costs, without experiencing significant financial strain.”
– Thi Nguyen, AHC Resident Engagement Specialist at The Spire
Across the first four quarters, 100% of participating households met the $10 minimum savings requirement each month, with more than 61% saving more than the required amount. On average, nine of the 11 participating households reported increased housing stability during the program’s first year.
The Episcopal Church of the Resurrection is funding the program, which was created to help families facing financial pressures while creating opportunities to build long-term financial security.
“At the Church of the Resurrection, we believe that flourishing communities are built when neighbors care for one another in meaningful ways,” David Ewing, Co-chair of the Abundance Committee at the Church of the Resurrection, said. “The RISE program reflects that commitment by helping families remain stably housed during times of financial pressure and uncertainty.”
“We are thankful for our partnership with AHC and encouraged by the difference this program is making in the lives of residents at The Spire. As we enter the program’s second year, we do so with gratitude, hope, and a continued commitment to supporting our neighbors.”
– David Ewing, Co-chair of the Abundance Committee, Church of the Resurrection
Shauna Bannani, who has been a resident of The Spire for three years, is a single mother of two. She works as a concierge at a condo building in Rosslyn, but she said the RISE program has given her extra financial support and helped her grow her financial literacy skills.
“It feels great because I know that there’s been a lot of people that didn’t make it into the program, so I feel like I’m one of the lucky ones to make it,” she said. “I [feel] like it [helps] me be more conscious of my money and how to spend it.”
Shauna is raising her 13-year-old daughter and her 25-year-old son, who has autism and cognitive disabilities. She said the program has helped her have more of a safety net when unexpected expenses arise.
“To me, it’s really hard because I’m a single mom, but it helped me out a little bit. I’ve been trying to save and it’s showing me responsibility. Things happen and emergencies happen so [I’ve had to dip] into the funds, but it’s been a great help.”
– Shauna Bannani, AHC resident
She said having savings to fall back on has been very helpful, but the program’s support goes beyond that. She’s learning to be more intentional with her money.
“There have been tons of emergencies that have come up, so it’s been helping me because I had that extra money that I knew that was there,” Shauna said. “I tap into it, but I try to put it back in once I get more money.”
One of Shauna’s favorite parts of the program has been the financial literacy classes offered through Britepaths. Among her favorites were a class about how to start her own business and one about helping instill good savings habits in your children, something her 13-year-old is excited to do once she’s old enough to start working.
“The virtual classes are very educational,” she said. “I like those a lot.”
As the pilot moves into its second year, the results demonstrate the value of pairing rent relief with financial education.
“The first year of RISE has shown what’s possible when direct financial assistance is combined with coaching, education, and trusted relationships,” Susan Davidson, AHC Vice President of Resident Services, said. “Residents are building savings, strengthening financial habits, and creating a stronger foundation for the future. We’re proud of what our families have accomplished and grateful to our partners for helping make this program possible.”
For Shauna, the program represents more than financial assistance. It’s an opportunity to build toward a more secure future.
“It feels great,” Shauna said. “I’m getting excited that hopefully good things can come out of this, and I hope the program can still keep going because people still need it.”
Interested in partnering with AHC to expand programs that strengthen resident stability and economic opportunity? Contact Katie Cunningham Jackson to learn more.
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