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Support for 2009 and 2010 Tax Assistance Programs

    September 24, 2008

    McGregor Fund Supports Accounting Aid Society
    With $150,000 Grant for its Tax Assistance Program

               Accounting Aid Society has received a $150,000 two-year grant to support the agency’s 2009 and 2010 tax assistance programs. The grant will be used for operating expenses to expand the use of Accounting Aid’s free tax preparation services and asset-building tools by low and moderate income households in southeast Michigan.

                Accounting Aid provided free tax assistance to 12,573 low and moderate income households this year, a 50% increase over 2007. In addition, almost 14 percent received counseling and referral services such as utility payment assistance, homebuyers’ counseling, credit counseling and household budgeting.

                With the support of the McGregor Fund, Accounting Aid plans to expand its services to 15,000 low and moderate income households by 2010, with an additional 5,000 to 7,000 receiving counseling and referral services.

                “The demand for free tax assistance and other asset-building services is increasing in Michigan as the state’s economy worsens,” said Kathleen Hatke Aro, president of Accounting Aid Society. “Accounting Aid’s year-round tax services enable low and moderate income households to capture tax refunds and credits which serve as valuable financial tools to lift families out of poverty, encourage work and infuse new capital into southeast Michigan’s communities.”

                The McGregor Fund is a private foundation established in 1925 by gifts from Katherine and Tracy McGregor “to relieve the misfortunes and promote the well-being of mankind.” The foundation awards grants to organizations in the following areas: human services, education, health care, arts and culture, and public benefit. The area of principal interest of the foundation is the City of Detroit and Macomb, Oakland and Wayne counties. The McGregor Fund has granted $190 million since its founding and had assets of $187 million as of June 30, 2008. Visit www.mcgregorfund.org for additional information.

                Since 1976, Accounting Aid Society has returned more than $157 million to low and moderate income households in Wayne, Oakland, Macomb and Livingston counties.

               The agency represents one of the most successful long-standing collaborations in southeast Michigan. More than 600 individuals join 100 nonprofit organizations, universities, corporations and government agencies each year to collaborate with Accounting Aid in assisting low and moderate income neighbors to receive valuable assets and improve their economic security. In addition, more than half of the agency’s expenses are donated products and services, including over 14,000 hours of volunteer service.

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