As part of our continued research to innovate high-quality emergency savings solutions to address this challenge, Commonwealth partnered with Shared Harvest Fund of Los Angeles.
The goal of the partnership was to explore the financial, psychological, and community impact of offering a $500 stipend labeled “emergency savings” to LMI individuals who spent at least eight hours volunteering in their communities. Employers are increasingly engaging employees through corporate volunteer programs, making this research and pilot program particularly relevant to Human Resources, Benefits, and Corporate Social Responsibility (CSR) Leaders. The pilot and accompanying findings and insights described in this report offer a novel approach for employers to implement these programs. Thus, providing an opportunity for employees to experience the same financial, psychological, and community benefits as participants in the pilot program.