United Way Leaders United Quarterly - Spring - Page 5



Children with a college savings account in their
own name—even with less than $500 in the
account—are three times more likely to attend
college.
Giving our youth the opportunity to understand
and manage their personal finances is a vital first
step in breaking the cycle of multi-generational
poverty and setting our children up for
future success.
Providing Free Financial Counseling
for All
Our neighbors in financial trouble need
individualized help and counseling—not just
education—to deal with the complex barriers
keeping them from becoming financially stable.
A recent PEW report found that nearly half of
Americans regularly experienced fluctuations
of income, and 55 percent of households didn’t
have enough saved to a replace a month of their
income if necessary. We believe everyone has
the right to receive high-quality services from
professionally-trained financial counselors,
like those offered at the Nashville Financial
Empowerment Center (FEC).
A partnership between United Way and the City of
Nashville, the FEC offers free one-on-one financial
counseling to all Davidson County residents by
helping clients manage bills, work through debt,
establish and improve credit, create a budget,
open a bank account and save for the future.
Since the program’s inception, the FEC has helped
its clients eliminate more than $7.5 million in debt
and increase their savings by over $930,000.
Helping Families Increase Their Savings
The last piece of the financial mobility puzzle
is helping families build their personal savings
so they can move from a state of struggling to
make ends meet to having a rainy day fund and
attaining personal assets like a car or home.
Whether or not families have these kinds of
durable assets is a key predictor of their future
success. Our partner agencies are working to
ensure our neighbors have established a strong
enough savings account to have an emergency
fund, build equity and avoid crisis.
WHEN PASSION MEETS PURPOSE
Honoring Dr. Tommy Frist
Every so often, an individual comes along to
revolutionize philanthropy; a leader whose passion
and vision creates permanent change. We are
honored to recognize Dr. Thomas “Tommy” F. Frist,
Jr., founder of the Alexis de Tocqueville Society,
a vehicle for community transformation that has
generated more than $10 billion.
A former chairman of the United Way of America
Board of Governors, Tommy’s vision to create
a society of philanthropic leaders who address
the needs of the most vulnerable was realized in
1981 when he launched the Tocqueville Society
as campaign chair of United Way of Metropolitan
Nashville. Wanting to make a mark beyond his
hometown—and to bridge a giving gap—Tommy
began inspiring peers to give at a level consistent
with their means.
Tommy then established a Tocqueville presence in
six more cities, and in 1985, oversaw its inception
nationally. Today, Tocqueville boasts more than
25,000 members in over 400 societies globally.
Under Tommy’s leadership, the Tocqueville Society
has become a multigenerational movement that
encourages individual giving.
Since its founding, the Tocqueville Society has
improved countless lives and strengthened
hundreds of communities. None of this would
be possible without Tommy’s unwavering vision.
As the first recipient of the United Way Lifetime
Achievement Award and a member of the
$10 Million Dollar Roundtable, Tommy and his
wife, Trish, have contributed generously to the
endowments of United Way Worldwide and UWMN.
- Originally published by United Way Worldwide
Un it e d Wa y o f M e t ro p o li t a n N a shv i l l e
5





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