The Midas Collaborative

Name

The Midas Collaborative

Legal name

The Midas Collaborative Inc.

Website

https://midascollab.org

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Community Asset-Building and Financial Inclusion Services

NAICS

Civic and Social Organizations (813410), Other Similar Organizations (except Business, Professional, Labor, and Political Organizations) (81399), Grantmaking and Giving Services (81321)

SIC

Services-Membership Organizations (8600)

akta.pro primary industry

Saving & Emergency Funds (EDAAAJAB)

Keywords

• Matched savings programs
• Financial education services
• Asset-building programs
• Nonprofit fiscal administration
• Community development finance

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Others, Marketing or Sales

Revenue model

1. Government Funding and Legislative Budget Allocations: The organization receives government funding through state budget amendments and legislative earmarks. Examples include a $250,000 earmark secured by Senator Eldridge and a quarter million dollars allocated through Senate Amendment #822 for reestablishing matched savings accounts in Massachusetts.
2. Program Administration Fees: Midas charges member organizations a fee for fiscal management services of matched savings accounts, including selecting financial institution partners, creating and managing custodial and savings accounts, producing monthly statements, maintaining match funds, and training staff.
3. Membership Dues and Sponsorships: Member organizations pay dues for membership benefits including collaboration opportunities, networking events, technical assistance, and professional development workshops. Corporate sponsors also support events like the Financial Health and Wellness Summit.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

The Midas Collaborative administers Individual Development Account (IDA) matched-savings programs for low- and moderate-income Massachusetts residents, providing savings matches up to 4:1 to help participants purchase assets such as homes, fund higher education, or start small businesses. The organization also delivers financial education, financial coaching, and legislative advocacy on asset-building policies, and operates as a fiscal backbone providing member organizations with collaboration, networking, technical assistance in program design, and professional development workshops.

Product overview

The Midas Collaborative operates as a nonprofit collaborative providing matched savings administration services (Individual Development Accounts/IDAs) with savings matching up to 4:1, combined with financial education and legislative advocacy. Their core offerings include the Matched Savings Program, F.E.N. (Financial Empowerment Network) coalition, the annual Financial Health and Wellness Summit, and membership benefits. Programs target low-to-moderate income residents across Massachusetts through partnerships with member organizations including STASH (first-generation homebuyers), Breaktime (homeless young adults), and Lawrence Community Works. The organization also provides advocacy tools and professional development for member organizations.

Differentiator

Problem solved

Functional benefit

Brands

• Financial Empowerment Network (FEN): A dynamic coalition dedicated to advancing financial literacy and capability across Massachusetts, previously known as MFEC and MassSaves before becoming FEN. FEN brings together public and private stakeholders including financial educators, providers, community organizations, and advocates to foster financial stability and empowerment for all Massachusetts residents.

Products and services

• Matched Savings Program (Individual Development Accounts) A savings program that matches low- and moderate-income individuals' savings at ratios up to 4:1 to help them purchase assets such as homes, fund higher education, or start small businesses, combined with financial coaching and education.
• Membership Benefits Program Provides member organizations with collaboration opportunities, networking events, technical assistance in program design and delivery, and no-cost or discounted professional development workshops throughout the year.
• Financial Empowerment Network (F.E.N.) A dynamic coalition dedicated to advancing financial literacy and capability across Massachusetts, bringing together financial educators, providers, community organizations, and advocates to foster financial stability and empowerment through advocacy, community events, and professional development.
• Financial Health and Wellness Summit Annual summit bringing together leaders from education, healthcare, asset development, and economic mobility to explore innovative strategies for financial stability and long-term wealth building.
• STASH (Saving Towards Affordable and Sustainable Homeownership) A matched-savings program in partnership with MAHA that helps first-generation homebuyers build financial foundations for purchasing their first home, with Midas providing fiscal administration for matched savings accounts.
• Breaktime Matched-Savings Partnership A matched-savings partnership with Breaktime helping homeless young adults find employment and turn savings into financial resources, with up to $1,300 in matched savings over 13 weeks.
• Lawrence CommunityWorks Matched-Savings Partnership A matched-savings program partnership with Lawrence Community Works serving Latino/Hispanic community members, helping 42 participants (19 active and 23 graduates) accumulate approximately $316,000 in savings since 2018.
• Cambridge Housing Authority Youth Workforce Matched College Savings Program A matched-savings program for Cambridge Housing Authority youth workforce participants (10th–12th grade students) helping them save up to $1,500 with a 1:1 match for post-secondary education expenses.
• Legislative Advocacy and Advocacy Toolkit Legislative advocacy efforts on matched savings (SB.737/HB.1158), baby bonds (HD.783/SD.711), and personal financial literacy (H.4670), with an Advocacy Toolkit providing resources for member and community advocacy.

Quantifiable outcome

• Approximately $30,000 savings accumulated by individual participant (from $6,000 initial savings)
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core, major and minor.

• Massachusetts Office of Economic EmpowermentcoreStrategic or Co-development Partner · 25 July 2022State treasury office focused on financial stability initiatives. Midas executive director Molly Goodman served on the Baby Bonds Task Force convened by Treasurer Deborah Goldberg.
• City of Boston (Department of Neighborhood Development)coreStrategic or Co-development Partner · 13 July 2022Partnership providing up to $5,000 in matching funds (2:1 ratio) for first-generation homebuyers through MAHA's First-Generation Homebuyer Program. Funding includes $325,000 redirected from police overtime budget.
• Lawrence CommunityWorkscoreStrategic or Co-development PartnerMidas partners with Lawrence CommunityWorks to facilitate a matched-savings program providing financial foundations for wealth accumulation. The program has 19 active participants and 23 graduates, all Latino/Hispanic, with approximately $316,000 in savings accumulated since 2018.
• Massachusetts Affordable Housing Alliance (MAHA)coreStrategic or Co-development PartnerPartnership to create the STASH (Saving Towards Affordable and Sustainable Ownership) program, a matched-savings program helping first-generation homebuyers. MAHA provides homebuyer education while Midas provides fiscal administration for matched savings accounts.
• BreaktimecoreStrategic or Co-development PartnerBoston-based nonprofit and Midas member organization. Breaktime helps homeless young adults find employment and save through matched savings. Associates save up to $50/week, matched 1:1 by Breaktime, amassing up to $1,300 in matched savings over 13 weeks.
• Dragonfly Financial SolutionsmajorStrategic or Co-development PartnerFinancial education company providing resources for households across the socioeconomic spectrum. Partners with Midas to deliver financial education services helping members save and buy homes.
• Cambridge Savings BankmajorStrategic or Co-development PartnerLongtime bank partner administering matched savings program for Cambridge Housing Authority Youth Workforce Program. Recognized for 10 years of partnership supporting young people's financial futures.
• United Way of Massachusetts BaymajorStrategic or Co-development PartnerCo-host of Financial Health and Wellness Summit and partner in financial coaching training initiatives. Recognition as United Way Changemaker organization.
• Boston Builds CreditminorStrategic or Co-development PartnerCollaborative credit building initiative providing resources and workshops on secured credit cards and credit building loans.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Prosperity Now (formerly CFED): National nonprofit focused on asset-building and economic opportunity for low-income households; directly comparable to Midas's matched savings and financial empowerment mission but at national scale and with a broader policy/research portfolio.
• Local Initiatives Support Corporation (LISC): Large national community development nonprofit with financial capability and IDA programs alongside housing and economic development; comparable mission but much broader portfolio and scale.

Direct peers

• EARN (Earned Asset Resource Network): San Francisco-based nonprofit providing matched savings (IDA) programs and tax-time asset-building services to low-wage workers; closest direct functional peer to Midas's core matched savings offering.
• Asset Funders Network: Membership network of foundations and funders advancing economic security through asset-building; comparable to Midas's role as a statewide collaborative convening nonprofits, policymakers, and financial institutions.
• The Financial Clinic: Nonprofit providing financial coaching, tax services, and benefits access to low-income consumers; highly comparable operating model combining direct service, coaching, and advocacy.
• Cities for Financial Empowerment (CFE) Fund: Municipal coalition advancing local government-led financial empowerment initiatives; comparable to Midas's FEN coalition work aggregating stakeholders to advance financial capability policy.

Others

• United Way of Massachusetts Bay: Existing Midas partner and Financial Health and Wellness Summit co-host; comparable funder/convener role in Massachusetts financial stability ecosystem.
• Massachusetts Affordable Housing Alliance (MAHA): Existing Midas partner running the STASH first-generation homebuyer matched savings program; operates as both a collaborator and a functional peer in matched savings administration.
• National Association for Financial Education (NAFE): National membership organization advancing financial literacy and educator certification; thematic peer aligned with Midas's financial education mission.
• National Disability Institute (NDI): Nonprofit advancing financial capability for people with disabilities; comparable model combining IDA-style matched savings, financial education, and policy advocacy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/midascollaborative
• LinkedInlinkedin.com/company/the-midas-collaborative
• Xx.com/midascollab

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Midas Collaborative