The Real$ense Prosperity Campaign
It’s all about the bottom line, and we have the numbers to prove it.
Since its inception in 2003, there’s no question Real$ense has made significant progress in improving the economic self-sufficiency of Northeast Florida citizens.
Based on economic statistics, we’ve returned more than $36.9 million new dollars to our community in the form of Earned Income Tax Credit. Our clients have saved more than $19.4 million in tax preparation fees and Refund Anticipation Loan fees and interest.
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
|Seven 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||2009 Tax Year||% Increase Over Baseline|
|Total number of Tax Returns Prep.||
|Dollar amount of Total Returns||
|Number of EITC Tax Returns Prepared||285||819||1,241||1,292*||2,198*||2,861*||3,172*||3,577*||1,156%|
|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||$5,643,667||833%|
|Number of IDA Accounts Opened||Not tracked||Not tracked||5||74||78||119**||59**||Still tracking||108%
For Years Tracked
|Completed Financial Class Hours||Not tracked||3,500||5,200||8,500||10,800||12,000||15,000||23,500||571%
For Years Tracked
|Number of Volunteers||60||100||200||160||350||320||400||650||983%|
|Number of Paid Staff||0 FTE||1 FTE||1 FTE||1 FTE||2.5 FTE||2.5 FTE||5.5 FTE||5.5 FTE||450%
Since 2003 TY
|Number of Tax Sites||11||10||13||29***||43***||43***||53***||60***||445%|
|Number of Paid Resources||0||0||0||0||0||4||12||19||1,900%|
* 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