Purpose of Funds

Purpose of Funds

 

 

Purpose of Funds

 

Funds will be used for client support in these three ways:

 

  • Monthly incentives are given to participants who reach their goals in these areas; education, financial, employment and health.

 

Rewards are most often given in the form of gift cards based on a point system (points equaling dollars). For example for education, the participant is rewarded for registering for school, good grades/high attendance record and graduation. For financial, they are given points for attending their monthly financial coach appointment, showing they've stayed on budget and bringing in the proper paperwork, ie receipts, bank statements etc. For employment it’s for reaching weekly application goals, obtaining a good 90 day employer evaluation and for any promotions. For health, they are rewarded for obtaining their weight and exercise goals. They also get rewarded for showing healthier food choices by showing grocery receipts.

 

 

  • Ripple of One matches the participants savings up to $200 every month.

 

This matching money does not go directly into the participants personal bank account, instead it is deposited in to their Ripple account. They can only retrieve this money for emergencies, car or house. Ripple transfers the money into their personal account after they graduate from Ripple of One.

 

  • Ripple of One gives participants internships to obtain work skills, training and stability while preparing to start school or while they are in school.

 

Ripple of One has sought out companies and non-profits in the community who will accept a participant to serve as an intern. Ripple of One pays $7.25 – $7.75 per hour which is deposited into the participants Ripple account. They may spend this money on living expenses or whatever is in their budget just as they would in an official paid position. We’ve created a monthly survey for the partnering companies in order to ensure strong communication on the participants progress.