The Real$ense. Real Prosperity.
It’s all about the bottom line, and we have the numbers to prove it.
Since its inception in 2003, there’s no question Real$ense has made significant progress in improving the economic self-sufficiency of Northeast Florida citizens.
Based on economic statistics, we’ve returned more than $18 million new dollars to our community in the form of Earned Income Tax Credit. Our clients have saved more than $3 million in tax preparation fees and Refund Anticipation Loan fees and interest.
Background
Every year, the IRS projects approximately $10 million federal dollars in Earned Income Tax Credits (EITC) goes unclaimed in Northeast Florida, by more than 5,500 families. That’s $10 million of spending power relinquished by our wage earners.
In addition, of the more than 78,000 Duval County households receiving EITC, 54% of them paid for a refund anticipation loan to get their refunds. This represents another $5.5 million in spending power given up by lower-to-moderate-income workers who can least afford it.
Results You Can See
| Six Year Historical Results | ||||||||
|---|---|---|---|---|---|---|---|---|
| Results | 2002 Baseline Prior to RealSense | 2003 Tax Year | 2004 Tax Year | 2005 Tax Year | 2006 Tax Year | 2007 Tax Year | 2008 Tax Year | % Increase Over Baseline |
| Total number of Tax Returns Prep. | 1,563 | 2,457 | 3,944 | 5,496* | 9,929* | 13,807* | 13,767* | 781% |
| Dollar amount of Total Returns | $1,564,300 | $3,200,013 | $5,460,070 | $7,003,000 | $10,968,987 | $13,271,659 | $16,876,239 | 979% |
| Number of EITC Tax Returns Prepared | 285 | 819 | 1,241 | 1,292* | 2,198* | 2,861* | 3,172* | 1,013% |
| Dollar amount of EITC Tax Returns | $485,843 | $1,576,651 | $2,472,279 | $2,524,690 | $3,212,754 | $4,118,106 | $4,535,318 | 833% |
| Number of IDA Accounts Opened | Not tracked | Not tracked | 5 | 74 | 78 | 119** | 59** | 108% For Years Tracked |
| Completed Financial Class Hours | Not tracked | 3,500 | 5,200 | 8,500 | 10,800 | 12,000 | 15,000 | 329% For Years Tracked |
| Number of Volunteers | 60 | 100 | 200 | 160 | 350 | 320 | 400 | 567% |
| Number of Paid Staff | 0 FTE | 1 FTE | 1 FTE | 1 FTE | 2.5 FTE | 2.5 FTE | 5.5 FTE | 450% Since 2003 TY |
| Number of Tax Sites | 11 | 10 | 13 | 29*** | 43*** | 43*** | 53*** | 382% |
| Number of Paid Resources | 0 | 0 | 0 | 0 | 0 | 4 | 12 | 1200% |
* In 2005, we partnered with AARP, so all results with * include returns from VITA Sites, AARP Tax-Aide Sites and The Benefit Bank sites.
** Some IDA accounts closed over the years; total number of current members is 290, with 57 graduates, 43 new home owners
*** These numbers include AARP Tax-Aide and Benefit Bank sites
