WASHINGTON, D.C. / ACCESS Newswire / March 31, 2026 / As millions of families and workers continue to face financial pressure and rising costs, Prosperity Now announced that it has received a $1 million dollar Wells Fargo Foundation grant to support IRS-certified Volunteer Income Tax Assistance (VITA) organizations nationwide. This grant expands access to trusted, no-cost tax return preparation services and helps more workers and families claim the refunds and credits they have earned.
The philanthropic investment will strengthen community-based VITA organizations and expand Prosperity Now's efforts to provide grants, training, and technical assistance to providers across the country. These programs ensure eligible individuals can prepare accurate tax returns and claim refundable credits for which they qualify, including the Earned Income Tax Credit (EITC) and Child Tax Credit (CTC).
Each year, millions of eligible individuals do not claim valuable tax credits. In 2025, approximately 24 million workers and families benefited from the EITC, receiving nearly $70 billion in total credits, with an average refund of $2,894. For many households, a tax refund represents one of the largest single payments they receive all year, helping cover essential expenses such as housing, groceries, childcare, utilities, and education.
"At a time when families continue to navigate rising costs, access to trusted, no-cost tax return preparation is more important than ever," said Marisa Calderon, President and CEO of Prosperity Now. "We are deeply grateful to the Wells Fargo Foundation for this philanthropic investment, which will allow us to expand support for VITA organizations and help more families access the full refunds and credits they've earned."
Professional tax preparation services can be costly, with average fees for a basic return often exceeding $200. For households managing tight budgets, those fees can create additional strain. VITA programs help remove that barrier by offering trusted, no-cost tax return preparation services in community settings.
"At Wells Fargo, we believe that financial health is the foundation for opportunity," said Bonnie Wallace, Head of Financial Opportunity Philanthropy for Wells Fargo. "That belief is what connects us so strongly to Prosperity Now's vision: ensuring every individual and family has access to the tools they need to build stability and long-term prosperity. Our commitment to help strengthen VITA sites nationwide will expand access for families and connect tax time with broader financial opportunities.
Prosperity Now works with hundreds of VITA organizations across the country through its Tax Opportunity Network, the nation's leading professional network for practitioners and organizations providing tax preparation services. Through this investment, Prosperity Now will provide grants as well as year-round training, technical assistance, and peer learning opportunities to help VITA providers strengthen service delivery and expand access to tax assistance in their communities.
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About Prosperity Now
Since 1979, Prosperity Now has been a trusted leader in strengthening financial security, expanding access to capital, and ensuring economic stability for businesses, families, and communities. Learn more at www.prosperitynow.org.
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View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/prosperity-now-receives-1-million-wells-fargo-foundation-grant-to-su-1153611
