Financial Coaching Services

We are pleased to announce that Multicultural Child & Family Hope Center, South Sound Outreach, and United Way of Pierce County have been selected to provide coordinated Financial Coaching Services to customers at the WorkSource Pierce One-Stop Center.

Summary

WorkForce Central is issuing this Request for Proposals (RFP) to identify and select a qualified contractor to provide financial coaching to Pierce County residents who face barriers to employment and self-sufficiency, are WorkSource Pierce customers, and/or participate in partners’ workforce development programs. We are seeking a local organization with strong Pierce County connections, knowledge, and history of effective collaboration. Financial coaching services will be delivered primarily at the WorkSource Pierce One-Stop Center in Tacoma, in both one-on-one and group settings. Financial coaching will include practical money management techniques in areas such as saving, debt reduction, budgeting, benefits, credit building, and starting bank accounts.

The contract amount will be between $120,000 – $180,000.

Key Dates

RFP Date	May 3, 2024
Due Date for Questions	May 29, 2024, 5:00 pm PDT
Proposals Due	June 3, 2024, 5:00 pm PDT
Notifications to Respondents	On or near June 10, 2024
Anticipated Contract Start Date	July 15, 2024
Initial Contract End Date	June 30, 2025

Optional Proposal Form

Download RFP

Read Submitted Questions & Answers

Questions & Answers

Questions about this RFP are welcome until May 29, 2024, 5:00 pm PDT. Please submit questions to [email protected], with “Financial Coaching Services RFP” in the email subject line. This is the only allowable venue for RFP questions. To maintain fairness to all bidders, WorkForce Central staff cannot discuss the RFP or specific proposal questions with potential bidders. Questions and answers will be posted to this webpage as they become available.

Is this RFP for new services or is there a provider already providing these services for Workforce Central?

WorkForce Central does not currently have a contract with any organization to provide financial coaching services.

Where is this funding coming from?

Funding for a financial coaching services contract may come from one or more local, state or federal sources available to WorkForce Central and will be determined prior to contract execution.

I see that you stated 15-30 individual appointments each week, how accurate is this?

15-30 individual appointments each week is WorkForce Central’s estimate of how many appointments will be required to serve the significant number of qualifying individuals we anticipate will participate in and benefit from financial coaching services. This will be discussed during contract negotiation with the organization selected through this Request for Proposals and might be adjusted during the course of the contract based on actual demand for services and practical service delivery considerations.

Would we be working with the same clients on a weekly basis or new clients each week?

Appointments will likely be with both new and returning participants.

What requirements are there for the workshops? Are you expecting a presentation/lecture style? Practical workshops where we will be completing budgets/debt reduction strategies?

Requirements for workshops are not firmly set at this time. The format and content of workshops will be determined based on discussion between the organization selected through this Request for Proposals, WorkForce Central, and WorkSource Pierce One-Stop System partners, plus input and feedback from potential and current financial coaching participants.

What is the contract payment type? Will this be reimbursement based or an upfront amount of the RFP that is approved?

This will be a cost reimbursement contract.

Will the clients have access to computers or tablets during the time the clients would be served or would I be providing that access?

Computers are available at the Pierce WorkSource One-Stop Center for individuals receiving services there, including financial coaching.

Can costs of operations in the main office be included that will be used for servicing grant clients, such as direct support and supervision for the onsite financial coach?

These types of costs are generally allowable and can be included in the proposed budget. The proposed budget and budget line items will be discussed during contract negotiation and may be adjusted if necessary.

Can cost of training for my organization’s employees be included in other costs?

Professional development for employees is an allowable cost and can be included in the proposed budget. Proposed training and its cost will be discussed during contract negotiation and may be adjusted if necessary.

In Section SECTION IV: Financial Management and Capacity, question #3 states “Has your organization been monitored by a funding organization in the last 24 months? If yes, please describe any findings or issues identified.” Does “monitored by a funding” have a specific definition or threshold? Most of our grants and contracts have a reporting mechanism, and we have had site visits from the city of Tacoma and Pierce County as part of their normal contracting process. We are wondering if this question is specific to a form on monitoring by a funder.

Monitoring in this context refers to in-depth examination of all services, spending and processes related to work funded by an external organization, most often federal agencies. If you aren’t sure if your organization has experienced monitoring, it will suffice to summarize your experience with funders’ oversight, site visits, etc. and note any significant issues identified by funding organizations.