Leap Fund provides a benefits cliff calculator and training tools that help public benefits recipients understand how changes in income or household size impact their benefits and net income. By offering data-driven insights and educational resources, Leap Fund empowers individuals to make informed financial decisions and avoid the pitfalls of benefits cliffs.
Funding
$125K raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Public benefits recipients often face uncertainty regarding how changes in income or household size will affect their eligibility and level of benefits, leading to financial instability. The complexity of benefit calculations and potential loss of benefits with small income increases, known as "benefits cliffs," can discourage recipients from pursuing opportunities for higher earnings. This lack of transparency and predictability can result in individuals making financially conservative decisions that limit their economic advancement.
Solution
Leap Fund offers a benefits cliff calculator and training program designed to provide transparency and data-driven insights to public benefits recipients and the coaches who serve them. The calculator predicts how changes in income or household size will impact public benefits and net income, enabling users to visualize potential benefits cliffs. The training program equips coaches with the knowledge and resources to navigate nuanced conversations about benefits cliffs with their clients. By providing clear information and interactive visuals, Leap Fund empowers informed decision-making and helps individuals avoid unintended negative consequences related to public assistance programs.
Target Audience
Leap Fund primarily serves public benefits recipients who are concerned about the impact of income changes on their eligibility for assistance programs, as well as financial coaches, employment coaches, workforce development professionals, and case managers who advise these individuals.
Features
- Benefits cliff calculator that estimates the impact of income and household changes on public benefits.
- Interactive visualizations to aid in understanding complex benefit calculations.
- Training program for coaches and case managers to effectively advise clients on benefits cliffs.
- Resources to increase general benefits fluency and understanding.
- Data reporting to track program effectiveness and client outcomes.
- Real-number estimates and predictions for informed financial planning.
- Customer support and dedicated office hours for program users.