Midas was formed in 1999 as a network of four members within the offices of the Allston Brighton Community Development Corporation, which served as our fiscal sponsor in the early years. As families struggled to make ends meet, a new look at financial habits, personal savings, and investment decisions was in order. Midas began our work in economic development with a new strategy that incentivizes and supports asset acquisition through matched savings as a vehicle to enhance long-term financial and economic stability. We facilitated asset development and asset protection of low-and moderate-income families in a manner that is collaborative, helps build communities, and is practitioner-tested and informed by national and state initiatives. As the financial challenges of families have become more challenging, the breadth of our work has expanded. Midas works with low- and moderate-income families, students, and small business owners through its signature programs focused on developing greater financial capability and building wealth to overcome systemic barriers to planning for their future. Midas also serves as an umbrella collaborative for member organizations and other frontline local partners, amplifying their efforts and sharing best practices to promote more prosperous communities across the state. As a recognized leader on the issues of consumer financial protection and asset building, Midas promotes advocacy and research on the state and federal levels to address the systemic issues that lead to financial insecurity. Through our programs, training of practitioners, and policy work we hope to create more prosperous communities in Massachusetts.
Midas has proven that increased financial management skills, peer support, innovation, and access to savings and wealth-building vehicles such as education, small businesses, and first home purchase foster the long term stability of individuals and families. Midas works to increase financial capability through program and policy work in Massachusetts.