Yellow Springs participants have been gifted
investments
valued
at
$2,000
We launched a research study in Jan ‘24 to test the impact of direct giving in your community.
We launched a research study in Jan ‘24 to test the impact of direct giving in your community.
Mayor Pam says...
I'm excited about the possibilities for our village and anxious to follow the data as it emerges.
I invite you to stay tuned and learn about the project which is totally in line with our village values. We have a vested interest in seeing if this project may be helpful to our residents.
– Pam Conine, Mayor of Yellow Springs
Who is eligible
To qualify you must:
•
Be at least 18 years old
•
Be a resident of Yellow Springs, Ohio
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Have a household income within 3x poverty level
How it works
•
You’ll get a mix of investment assets and cash to help you grow your savings over the long term.
•
Track the value of your investment assets over time in our easy-to-use-wallet, accessible to all, using any device.
If you're selected to receive Gifted Savings, you'll set up your wallet and verify your ID.
Choose how to spend your savings, and for how long to hold.
Track the value and cash out once you've reached your goal
The fine print
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Gifted Savings is an experimental non-profit startup, not a bank or an insured financial institution.
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In phase 1, 20 participants will be randomly selected and all 20 participants will receive a Gifted Savings account.
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In phase 2, participants will be randomly assigned to one of two groups. There is a 40% chance of being assigned to a group that will receive a GS account and a 60% chance of being assigned to a control group that will not receive a GS account.
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The original value of the account is not guaranteed, as assets may increase or decrease in value over time.
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Recipients of Gifted Savings accounts will hold their assets for a minimum of 2 years.
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Recipients may request an early withdrawal of up to $500 per year to cover unexpected life expenses.
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The initial $2,000 gift is tax-free. Recipients may have to pay capital gains tax on any value gained after the 2-year holding period, and may be liable for tax on stock dividends. Read more about tax implications
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Participants are encouraged to share their experience with Gifted Savings by participating in paid surveys and interviews.
100% of gifted assets go directly to the recipients.
We collaborate with UPenn Center for Guaranteed Income Research to measure our impact.
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