Public-Private Partnership Pays off with $6.5 Million in Earned Income Tax Credits

H&R Block Inc. ^ | August 28, 2006 | H&R Block Inc.

[hedgetrimmer]

The Clinton Foundation, Operation HOPE and H&R Block Team to Deliver Tax Credits, Financial Counseling and Emergency Guidance to More Than 4,300 Families across the Gulf Coast

KANSAS CITY, Mo.--(BUSINESS WIRE)--Aug. 28, 2006--As the one-year anniversary of Hurricane Katrina approaches amid an ongoing struggle for recovery along the Gulf Coast, one groundbreaking public-private partnership has emerged as a success story in helping thousands of Americans claim millions of dollars in much-needed, hard-earned income tax refunds. In just under six months, the Earned Income Tax Credit (EITC) Awareness Program, launched by the William J. Clinton Foundation in collaboration with Operation HOPE and H&R Block (NYSE:HRB - News), has delivered much-needed economic help and financial resources to Hurricane Katrina, Wilma and Rita victims in the aftermath of the disastrous 2005 hurricane season. The result of this innovative collaboration included over $11 million in federal tax refunds, including $6.5 million in EITC payments and, when requested, free financial counseling and guidance to the survivors of hurricanes Katrina, Wilma and Rita.

As part of "Project Restore HOPE," the EITC Awareness Program launched on Feb. 3, 2006, with a firm community-driven, financially strong commitment from the Clinton Foundation, Operation HOPE and H&R Block.

Milestones announced today include:

Assisted 4,324 families in receiving over $6.5 million in EITC refunds -- an average of more than $1,500 per family -- by ensuring that eligible taxpayers from all of the Katrina-impacted states understood and claimed the EITC Provided free tax preparation for 5,000 taxpayers at H&R Block offices across the Gulf Coast Delivered free tax advice, access to prior-year returns and other essential financial counseling and support for impacted individuals and families who continue to work through the lengthy recovery process Distributed over 8,000 Emergency Financial First Aid Kits from Operation HOPE available for download at www.operationhope.org Implemented a PSA campaign with the support of former President Clinton and Premier Radio Networks to bring much-needed attention to the EITC outreach program nationally Established ongoing emergency and financial literacy guidance for individuals in Alabama, Louisiana and Mississippi with the help of funding from the Bush-Clinton Katrina Fund and the Mississippi Development Authority Opened HOPE offices in Louisiana and Mississippi to provide direct financial recovery services Since February, the EITC Awareness program has helped real people get money they had already earned at a time when they desperately needed it -- people who might not have had the knowledge or resources to claim these crucial funds without the efforts of this unique partnership. The partnership came together with a common goal to focus attention on helping hard-working people regain some optimism, improve their economic condition and rebuild their lives.

The EITC is a key federal tax credit of up to $4,500 available to millions of low- to middle-income taxpayers. It was established in 1975 to help offset the impact of payroll and income taxes on the working poor.

For tax year 2005, the federal government projected 22 million working families nationwide would receive about $40 billion through the EITC, with each family receiving an average of about $1,800. However, the Governmental Accountability Office has estimated that up to 25 percent of those eligible for the credit fail to claim it. Many of those up to 7 million families do not claim the EITC due to a lack of awareness or the complexity of eligibility requirements and tax forms. H&R Block has a proven track record when it comes to the EITC. One-third of all EITC claims are filed by H&R Block for its clients and the company also offers all EITC-eligible taxpayers free online self-preparation of their tax returns as a member of the Free Filing Alliance (available at www.irs.gov).

"The partnership illustrates what can be achieved when the participants are passionate, dedicated and focused on serving those in need," said Mark A. Ernst, chairman and chief executive officer of H&R Block. "When people are faced with the daunting challenge of rebuilding their lives, it is imperative that we all work together.

"For over 50 years H&R Block has demonstrated its commitment to helping low- and moderate-income families access the tax expertise, counseling, education and financial support they need to improve their lives. We are proud of this partnership and its direct impact on the lives of people so deeply in need of support."

Added John Hope Bryant, founder, chairman and chief executive officer of Operation HOPE: "People are still struggling to recover, and the process of healing and reclaiming a firm financial footing is only just beginning for tens of thousands of families. We must celebrate these results while reminding ourselves and every other public and private organization that there is much more work to be done in order to help Americans rebuild their lives and once again look ahead with confidence, optimism and hope."

The joint effort went beyond providing tax and financial services. Together with other partners, Project Restore HOPE also recruited 2,000 HOPE Corps volunteers; established a Call Center Network designed to provide basic guidance and assistance services to hurricane victims; provided guidance to over 8,000 Hurricane Katrina and Wilma victims; created a secure online case management program that enables volunteers to assist victims from their offices nationwide; and created partnerships with numerous other companies and government agencies to combine resources and help hurricane survivors in unique and innovative ways.

H&R Block and Operation HOPE have partnered to provide a wide array of financial literacy programs and services to low-income individuals nationwide at select H&R Block offices and at www.hrblock.com. The programs are also available through the HOPE Center in Los Angeles and at www.operationhope.org.

To receive free financial counseling, hurricane victims are encouraged to call Operation HOPE at 1-888-388-HOPE (4673) Monday through Friday, 6:00 a.m. to 7:00 p.m. PST, and Saturday, 6:00 a.m. to 2:00 p.m. They also may contact H&R Block at 1-800-HRBLOCK or at www.hrblock.com.

About Operation HOPE

Operation HOPE Inc. (www.operationhope.org) is a national non-profit self-help organization working to bring economic self-sufficiency to inner-city residents and low-wealth communities. With more than $185 million in commitments from its 150 bank and corporate partners for homeownership and small business loans, $117 million in funded loans, and over 500,000 customers served in economic education and services, Operation HOPE is a national leader in providing economic empowerment tools and services. Operation HOPE's Banking on Our Future is the only year-round urban delivery platform for financial literacy education in the nation today, operating in eight states and the District of Columbia. Utilizing more than 1,500 banker-teacher volunteers who serve as HOPE Corps Members, Banking on Our Future has taught over 130,000 students about the basics of banking; how to open and maintain a checking and savings account; the power of credit; and basic investments.

About H&R Block

H&R Block Inc. (NYSE:HRB - News) is a leading provider of tax, financial, mortgage, accounting and business consulting services and products. H&R Block is the world's largest tax services provider, having prepared more than 400 million tax returns since 1955. The company and its subsidiaries generated revenues of $4.9 billion and net income of $490 million in fiscal year 2006. In fiscal year 2007, it is operating in four principal business segments: Tax Services (income tax preparation and advice via in-office, online and software solutions); Mortgage Services (wholesale mortgage originations and loan servicing); Consumer Financial Services (investment and financial advisory services, retail mortgage loans, and banking products and services); and Business Services (tax, accounting and consulting services for midsized businesses). Headquartered in Kansas City, Mo., H&R Block markets its services and products under three leading brands -- H&R Block, Option One and RSM McGladrey. For more information, visit our Online Press Center at www.hrblock.com.

[hedgetrimmer]

Use this thread to investigate the true nature of public-private partnerships.

[hedgetrimmer]

Public-private partnerships are a cornerstone policy for advancing the North American Union.

Look how the government influences so-called 'private' corporations, in their partnerships.

Look how so-called 'private' corporations are guaranteed government subsidies when they act as an agency of the government.

When a company is a 'partner' with the government it can no longer be considered private. When the government acts as though it is a business, instead of a government, it fails to meet its prime directive, which in this country, is to protect individual rights, and PRIVATE property rights.

[VeniVidiVici]

hard-earned income tax refunds

I agree.

My hard-earned income is going into their refund.

[hedgetrimmer]

You posted this:

TxDOT getting the word out on public-private partnership program

The Texas Department of Transportation will hold its second workshop in June on its public-private partnership programing and upcoming project development and financing opportunities

What 'financing opportunities' are constitutional? What does a private company get in return for 'financing' the government? How does the citizen defend his voice in his own government when this type of government 'financing' is used?

[Mygirlsmom]

Those words jumped out for me as well. How does one get a tax REFUND without ever having paid taxes? Income tax gift more like it, only I'm not feeling so benevolent.

[1rudeboy]

That's why it's called a credit, not a refund.

[hedgetrimmer]

The earned income tax credit is not a "tax cut" it is a "welfare payment" designed to buy votes.

PeteB570, I found your quote to be quite appropriate for this post. It also illustrates how a public-private partnership is being used to promote a corrupt public official and his agenda. In fact public-private partnerships breed corruption in our government.

[Marius3188]

Hedge

This is the tip of the iceberg.

Meet the Prairie Falcon Parkway Express:
http://denver.bizjournals.com/denver/stories/2006/08/28/daily8.html

From the article:
Also in compliance with the new laws, the company doesn't have eminent domain power to condemn land for the project. Land can be condemned only through a public-private partnership with the Colorado Department of Transportation, Hopfer said.

"This is a project that will be done with willing sellers and local government," he said.

Scary, very scary stuff.

[hedgetrimmer]

Public-private partnership (PPP) initiatives for Chile's roads network will be carried out according to their social and economic benefits, public works minister Eduardo Bitran told BNamericas.

Here is another instance, in Chile, how the government will use 'private' business to enforce a 'social agenda'. One of the most fearsome powers of a government is the power to socially engineer its people. That is what our US Constitution sought to protects us from and that Constitution and public-private partnerships do an end-run around our Constitution and our rights as citizens.

[hedgetrimmer]

Yes indeed.

[hedgetrimmer]

Another interesting aspect of PPP, is that it is a global phenomena. Now, why is this? Why are so many nations setting these agreements up, whether they are communist, totalitarian, or purportedly free countries? How can the same program apply no matter what the political ideology of the nation? Why is it that Clinton's disaster management plan with H&R block is so similar to one set up by the Philippine government?

Public-private partnership for health and disaster management

Here is how the partnership operates. The Regional Health Office of Region 8 provides physical space, assigns Center staff, and provides annual maintenance and operating expenses. The Health Emergency Management unit of the Department of Health provides additional learning resources, monitors and evaluates the project; the UNESCO National Commission of the Philippines provides resources for IT equipment and facilities, training on e-center management; and additional learning resources. The Commission on Information and Communications Technology provides IT specialists for project design and installation of equipment and facilities; and conduct training on CeC management, maintenance, and operations. Some government line agencies and UN agencies will be requested to provide additional learning resources, resource persons, and access to online databases and knowledge banks

[hedgetrimmer]

Here is one you might be interested in...

New EDC Members Needed

Sep 07, 2006 -- New EDC Members Needed As Others Retire From Partnership The Economic Development Commission, a public private partnership that promotes the economic development and that helped create the Housing Advisory Board and the Loudoun Convention & Visitors Association, is seeking business leaders to fill several vacancies. The 27 voting members have varied backgrounds, running the gamut from entertainment law to information technology, and tackle topics including employee housing and broadband. The three-year positions begin in January. Three current members will have completed the maximum of two, three-year terms and will be stepping down: Middleburg Bank CEO and Chairman Joe Boiling, Cardinal Bank Senior Vice President Cheryl Beebe and Metropolitan Washington Airports Authority President Jim Bennett. Letters of interest and resumes are due Sept. 15 to the EDC Nominating Committee, c/o Debra Jenkins, Loudoun County Department of Economic Development, 1 Harrison St., SE, MSC # 63, Leesburg, VA 20175.

Now, in a free country, how can businesses be allowed to make decisions with the government about 'employee housing'? Don't indivdiuals have free say over their own housing in this country? Are these so called business leaders now in charge of the government and our tax money, to build housing for their workers? You know that China does this. Is there a place for this type of political ideology in a free country?

[hedgetrimmer]

'willing sellers '-- this has been a tool of the nature conservancy for some time, rendering a property virtually worthless to the private owner, who then 'willingly' sells it to them. They now are the largest landowners in the nation, next to the federal government, with a property portfolio worth billions accomplished in only a decade or so. They also have a public-private partnership with the government, and an incestuous relationship with the US treasury department.

[Marius3188]

The David Letterman land deals pop into my recent memory.
http://archives.seattletimes.nwsource.com/cgi-bin/texis.cgi/web/vortex/display?slug=vineyard07&date=20030507&query=nature+conservancy

[hedgetrimmer]

'Workforce housing' is one of the cornerstones of former Housing director, Sunne Wright McPeak and the governor.

Public-private partnerships to build them are a force in eliminating private property ownership and creating a society in which nearly everyone is a charge of the government and business will not longer have to pay sufficient wages to their employees so that they can provide for their own necessities.

Broad-based workforce housing initiatives needed

What's needed, as Bill Ring, in a thoughtful Coconino Voices column Wednesday, has proposed, is a broad public/private partnership on workforce housing that stops the finger-pointing and starts working on solutions. Such an approach suffered a setback last spring when the City Council's proposed charter change on workforce housing came under attack from the business community for being premature and vague. It failed at the polls, although other city initiatives, such as an affordable housing land trust, continue to be implemented.

City officials have regrouped and are now undertaking a housing needs assessment that zeroes in on the types of workers who are suffering the greatest housing shortfall and how to overcome it. It is thought that, in most cases, these are younger, middle-class families who simply cannot save enough fast enough to get into even a starter home. Or, if they have managed to buy a house, they are paying way too much of their income on housing costs, causing the kind of financial stress that can tear families apart.

But a study, it is hoped, will flesh out that profile and identify the barriers at work in this community to bringing housing costs more in line with income. Whatever the results, it will mean, as Ring suggests, a willingness for all sides to listen, then be ready to compromise as well as try new ideas, even if not all of them work

[hedgetrimmer]

No suprise that Goldman Sachs executives were also advantaged by that deal.

[hedgetrimmer]

The arguably worst communist government in the world, Zimbabwe, uses public-private partnerships to fund 'public servant housing'. How can a 'free country' like the USA and a communist country like Zimbabwe have the same policies for housing 'workers'?

THE Zimbabwean government has for the first time floated a housing bill that is aimed at financing the construction of houses for the public servants.

This is being done in collaboration with the private sector through a Public Private Partnership.

Together they have established the Public Servants Housing Development Company (PSHDC), a Special Purpose Vehicle (SPV), to mobilise the appropriate financial and technical resources for the development of houses for public servants.

The company floated a Z$500 million housing bill on September 4 2006.

[Marius3188]

Another huge sham is Conservation Easements.

They lure farmers and hunting clubs into signing these for tax purposes and it prevents them from developing their land and allows other Enviro wackos to sue the land owners.

http://prfamerica.org/LandTrustsThreatenPP.html
http://prfamerica.org/ConsEaseSecondLook.html

[Mygirlsmom]

That's why it's called a credit, not a refund.

From the article:

one groundbreaking public-private partnership has emerged as a success story in helping thousands of Americans claim millions of dollars in much-needed, hard-earned income tax refunds.

This was the statement I was commenting on. Call it what you want, but my point is don't call it a hard-earned refund.

[hedgetrimmer]

This post sums up public/private fascism quite well.

Speaking of 'Nuts': Agenda 21, in a nutshell