RWJBarnabas Health is putting major financial backing behind a Newark organization’s efforts to address poverty in the city. 

The West Orange-based health care provider recently announced it will provide $1.5 million to the Newark Asset Building Coalition. United Way of Greater Newark leads NABC. The funding aims to reduce the number of residents who struggle to meet their basic needs. 

“Financial insecurity is one of the greatest barriers to good health,” Balpreet Grewal-Virk, RWJBarnabas senior vice president, Community Health, noted in a July 23 statement. “That is why we are proud to partner with United Way of Greater Newark to support programs that improve financial stability for our [Asset Limited, Income Constrained, Employed] employees and communities.” 

According to RWJBarnabas, 70% of Newark households meet the ALICE threshold. These working families struggle to meet their basic housing, child care, education, food, transportation, health care and technology needs. 

The funding will support NABC’s strategy to provide residents with tools needed to increase income and assets while also reducing debt. The initiative includes expanding financial coaching services and job skills training programs. Additionally it features a public education campaign, particularly in areas with limited access to resources. 

Catherine Wilson, president and CEO of UWGN, said the organization is excited to partner with RWJBarnabas Health on the initiative. 

“ALICE populations are growing each year and with this support we hope to expand our reach and help more families achieve financial stability and growth,” Wilson added.

The initiative also aligns with Newark Mayor Ras Baraka’s recently announced municipal financial empowerment blueprint. That plan aims to help residents “put the building blocks in place to secure their financial future.”