The Foundation for Financial Planning (FFP) on Thursday launched the COVID-19 Financial Resilience Fund and announced that the Charles Schwab Foundation will double up to $500,000 in matching grants.

Schwab will match all qualified contributions to the fund dollar-for-dollar, according to an announcement by the FFP, creating a total potential of $1 million to help bring pro bono financial planning and advice to low-income workers and other groups impacted by the COVID-19 pandemic.

“This pandemic has left millions of Americans facing financial hardship,” Jon Dauphiné, chief executive officer of FFP said in the news release. “Families have experienced a loss of income and are struggling to pay for food, housing, and other basic needs, while those on the frontline, like our healthcare first responders, have little to no time to focus on their finances.”

Dauphiné said that the COVID-19 Financial Resilience Fund would help raise resources to bring free financial guidance to people who needed it now more than ever before.

The COVID-19 Financial Resilience Fund will help support a range of new offerings and programs that FFP has spearheaded in response to the crisis. The programs include emergency grants; connecting CFP volunteers to pro bono opportunities through a first-of-its-kind online platform at CFPVolunteerMatch.org; launching new programs for high-risk groups such as seniors, families affected by cancer, and healthcare first-responders; and curating and posting relevant training and resources for pro bono advisors and their clients.

Charles Schwab Foundation’s commitment to FFP is part of more than $2 million it has pledged in response to the COVID-19 crisis, having also made contributions in support of local food banks and community foundations, the CDC Foundation, the Boys & Girls Clubs of America’s Emergency Response Fund and more.

“We are so grateful to the Schwab Foundation for helping to make this possible,” Dauphiné said in the news release.

Those interested in supporting the COVID-19 Financial Resilience Fund can learn more at FFPprobono.org/COVID-19Fund. Commitments of $1,000 or more can be paid over up to five years, and those pledging $25,000 over five years will be specially recognized as top champions of FFP’s COVID-19-related efforts.

The Foundation for Financial Planning, headquartered in Washington, D.C., is a 501(c)(3) charitable organization dedicated to the mission of delivering pro bono financial planning services to at-risk populations that need them.

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