Real$ense and Ulrich Research Services have been surveying Real$ense financial workshop participants for the past 3 years to determine if they are truly “better off” after attending a financial workshop. We are pleased to find that workshop participants are experiencing statistically significant improvements in their financial behavior 6-9 months after attending a Real$ense financial workshop. See our most current study results here.
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 $10 million of spending power relinquished by our wage earners.
Since its inception in 2003, Real$ense has made significant progress in improving the economic self-sufficiency of Northeast Florida citizens, through free tax preparation at our VITA, AARP Tax-Aide and Benefit Bank tax sites.
Real$ense coalition tax sites have helped more than 115,000 families file thier federal tax returns resulting in more than $44 million new dollars to our community in the form of Earned Income Tax Credit. Our clients have also saved more than $23 million in tax preparation fees and Refund Anticipation Loan fees and interest.
Results You Can See
|Ten Year Historical Results|
|Results||2002 Baseline Prior to RealSense||2003 Tax Year||2008 Tax Year||2009 Tax Year||2010 Tax Year||2011 Tax Year||2012 Tax Year||% Increase Over Baseline||Ten-Year Totals|
|Total number of Tax Returns Prep.||1,563||2,457||13,767*||14,540*||15,443*||16,629*||18,111*||1,059%||115,686|
|Dollar amount of Total Returns||$1,564,300||$3,200,013||$16,876,239||$19,634,304||$21,769,234||$22,051,463||$24,397,075||1,460%||$146,196,344|
|Number of EITC Tax Returns Prepared||285||819||3,172||3,577||3,771||3,802||4,152||1,357%||27,170|
|Dollar amount of EITC Tax Returns||$485,843||$1,576,651||$4,535,318||$5,643,667||$6,107,969||$6,248,678||$7,362,532||1,415%||$44,288,487|
|Amount Saved on Paid Preparer Fees||Not Tracked||$552,825||$2,356,694||$3,315,814||$3,456,039||$3,498,775||$3,965,055||617%||$23,351,896|
|Completed Financial Class Hours||Not tracked||3,500 est.||15,000 est.||9,700 est.||8,368 actual||10,017 actual||9,989 actual||230% For Years Tracked||93,375|
|Number of Volunteers||60||100||400||650||700||700||700+||1,067%||3,640|
|Number of Paid Staff||0 FTE||1 FTE||5.5 FTE||5.5 FTE||5.5 FTE||5.5 FTE||6.5 FTE||550%||Since 2003 TY|
|Number of Tax Sites||11||10||53*||60*||63*||64*||64*||540%||Since 2003 TY|
|Number of Paid Resources||0||0||12||19||20||24||26||2600%||Since 2003 TY|
* In 2005, we partnered with AARP, so all results with * include returns from VITA Sites, AARP Tax-Aide Sites, The Benefit Bank sites and MyFreeTaxes.com.