Request for Proposals: Financial Coaching Services Delivered to the City of Philadelphia Division of Maternal, Child, and Family Health
Questions about this RFP should be submitted to firstname.lastname@example.org and Stacey.email@example.com by February 19, 2024. Answers to questions will be provided on a rolling basis and posted to this webpage by February 20, 2024 for all applicants.
The Philadelphia City Fund and the Philadelphia Department of Public Health seek qualified vendors to provide financial coaching to participants in the Philly Joy Bank, a guaranteed income pilot that will provide $1,000 of monthly guaranteed income to participants throughout pregnancy and through 12 months postpartum, with the goal of improving financial stability for participants and reducing the risk of infant prematurity.
The selected vendor will be expected to manage the following:
- Offer individualized financial coaching and financial empowerment services to all 375 individuals upon enrollment in the Philly Joy Bank and/or enrollment as a control
- For individuals who express interest in financial services, support identification, development, and achievement of personalized financial goals
- Support the initiation of banking for individuals who are not banked
- Offer individualized financial coaching and financial empowerment services to all 250 Philly Joy Bank participants upon anticipated ending of Philly Joy Bank financial supports
Further information about the scope of work and process for submitting proposals can be found in the full RFP.
Questions about this RFP
Q: Is the maximum amount of money the vendor will receive is $30,000 for the entire grant period?
Q: Will participants in the Philly Joy Bank be required to participate in financial coaching services?
A: No. The Philly Joy Bank is an unconditional guaranteed income program, so any additional services, included financial coaching, will be offered on a voluntary basis for the program participants.
Q: Is it expected that the vendor will provide financial coaching to all 375 individuals?
A: It is expected that financial coaching will be offered to all 375 individuals and that an unknown percentage of participants will decide to avail themselves of of the financial coaching.
Q: “Offer individualized financial coaching and financial empowerment services to all 250 Philly Joy Bank participants upon anticipated ending of Philly Joy Bank financial supports” – does this mean you expect the vendor to provide coaching while they are part of the Philly Joy Bank initiative plus after the initiative ends? If yes, what time frame are you talking about – how many months do you expect the vendor to provide coaching?
A: The Philly Joy Bank is an 18-month program. We would like the financial coaching services to be offered again to participants the last few months of the program in order to help participants prepare for the end of the guaranteed income. The financial coaching services will end when the Philly Joy Bank program ends.
Q: Would a capacity-building model of training and technical assistance be allowed under this RFP as an approach for delivering the required services? I.e., the vendor would train and support staff at a local partner organization, who would in turn provide financial coaching and related wraparound supports to participants. The approach would be an evidence-based and proven-effective model with a track record of successful implementation in several cities across the country.
A: Yes, but we would expect the vendor to identify and fund the local partner organization.
Q: If yes to the above, what would be the right organization to approach for partnership? Which organizations (Philly Joy Bank? Others?) have frontline staff members who are already engaging with participants, and would they be open to a technical assistance partnership focused on the integration of financial coaching into their existing roles? For example, we have provided training and technical assistance on holistic financial coaching to student-parent advisers at community colleges, MSW interns at pediatric clinics, family engagement specialists at HeadStart centers, etc.
A: The vendor would need to identify the organization for partnership and propose the partnership in the RFP. The Philly Joy Bank staff will not have the capacity to deliver financial coaching.
Q: The RFP notes that coaching will be provided to all participants who express interest. What is the opt-in rate that you have assumed in order to determine the $30,000 budget for funding? Are there plans for commensurate funding if interest far outpaces this estimate, or a contingency plan for capping families served if the budget cannot be increased?
A: We have estimated that between 20-30% of participants will express interest in the voluntary counseling. There are no plans for additional funding beyond the $30,000. In your proposal, you can describe you can propose a contingency plan if interest exceeds are estimated participation rate.
Q: Is the $30,000 in funding provided the maximum total budget, or are vendors permitted to source additional private funding on top of the $30,000 to be awarded through this RFP? If so, is there an opportunity to finalize the scope of work contingent upon additional philanthropic support? We anticipate a budget larger than $30,000 to successfully complete the scope of work outlined in the RFP, and would need to secure additional private funding to fully support this work.
A: Yes, vendors are permitted to source additional funding. In your proposal, please describe the anticipated additional funding needed and potential sources for funding.
Q: If yes to the above, are there private funders who have already made investments in this work that would be off the table for helping to cover a vendor’s additional costs? If so, can you share the names of these private funders who have already contributed and should not be approached for additional funding?
A: The following foundations have already made grants to the Philly Joy Bank: William Penn Foundation, Spring Point Partners, Vanguard, Barra Foundation, and Philadelphia Health Partnership.
Q: We are an out of state of company that is interested in servicing and helping with the coaching services. Given the nature and services we offer, we are equipped to fulfill the needs in the RFP. Do you have preference for local vendors?
A: We do not have a preference for local vendors.
Q: Would virtual meetings be acceptable for presentations?
Q: Are there any contracted banking partners on this partnership? Are we free to provide a list of BankOn accounts that are safe for our clients?
A: There are no contracted banking partners. Vendors are welcome to provide a list of BankOn accounts.
Q: What is the expected uptake of participants? Are you looking at a certain percentage of participants opting into financial empowerment services? Are the services optional for both groups of participants?
A: We have estimated that between 20-30% of participants will express interest in the voluntary counseling. Services are optional for both groups of participants.
Q: What is the methodology and expectation of service delivery? Do you anticipate participants receiving a minimum number of sessions to achieve results?
A: We have not identified a specific methodology of service delivery. Vendors can propose a variety of service delivery methods in their proposals.
Q: What would the monthly reporting requirements look like/do you foresee ongoing meetings?
A: Vendors will be expected to submit an accessible document on participant engagement, and aggregated data on financial advancement and/or achievement of financial goals by participant. We do anticipate check in meetings with the vendor.