Baltimore’s experiment in economic empowerment has yielded promising outcomes, as indicated by the final report on the Young Families Success Fund (BYFSF) pilot program. Designed to provide financial buoyancy, the initiative granted 200 young parents in the city an unconditional cash payment of $1,000 per month over two years. The findings, heartening advocates of such social safety nets, suggest that direct cash support can pave the way for increased financial stability and the well-being of families in need.
The BYFSF initiative, which ran from August 2022 to July 2024, selected participants aged between 18-24 years, tasked with the care of their biological or adopted children, with incomes at or below 300% of the federal poverty level. With a $4.8 million budget sourced from the American Rescue Plan Act funds, the program’s insights, covered extensively in the Baltimore City official release, include a decrease in food insecurity and a surge in enrollment in education and training programs, among other positive outcomes.
Crucial takeaways from the pilot include improved job stability, with BYFSF recipients indicating a significant reduction in hours of work missed due to child care issues when compared to a control group. Furthermore, nearly all of the participants reported that the guaranteed income helped them provide their children’s basic needs or engage them in more enrichment activities. In assessing the program, Robin McKinney, Co-Founder and CEO of CASH Campaign of Maryland, stressed the value of entrusting families with financial autonomy: “The Baltimore Young Families Success Fund shows what happens when we trust families to make the best decisions for themselves.” McKinney told the City of Baltimore’s press release that consistent support spurs investment in education, futures, and the nurturing of hope…