any new or innovative way of increasing healthy food access outside of the traditional retail strategies (supermarket, grocery store, corner store). Alternative markets are often smaller in format and/or don’t involve a bricks-and-mortar structure to reduce the associated operating and overhead costs, examples include food hubs, mobile markets, and community supported agriculture (CSA).

strategies and policies that enhance the financial security of lower-income individuals, families and communities by increasing their access to savings and investment opportunities or protecting their net worth. 

a coalition of the nation’s preeminent civil rights and advocacy organizations committed to coordinating savings and asset building policy and advocacy efforts at a national level, developing a shared communications agenda and strategy, and building the capacity of members and their networks. (http://assetbuildingpolicynetwork.org)

products, services, programs and strategies that enable households to protect or preserve the value of their financial assets, such as health and home insurance.

a type of short term loan (typically less than 30 days) whereby a borrower uses their car title as collateral.  Loans have a high interest rate and the car is forfeited if the loan is not paid.

a Ford Foundation initiative that supports national policy organizations, state coalitions with grassroots constituencies, and research centers in their efforts to expand opportunities for low-income communities and communities of color to save and invest in wealth-building financial assets. (http://www.fordfoundation.org/issues/economic-fairness/building-economic-security-over-a-lifetime)

the rate of taxation of investment income.  The capital gains tax rate depends on a taxpayer’s tax bracket, the type of asset sold, how long it was held and when it was sold.  A taxpayer’s “short term” capital gains tax rate is the same rate as their ordinary income tax rate and applies to investments held for a year or less. The “long-term” capital gains tax rate applies to assets held for more than a year. The top rate currently stands at 20% plus a 3.8% medical surtax for the highest income earners, far below the top income tax rate of 39.6%.

a long-term savings account held in a child’s name, also known as Child Development Accounts. CSAs are typically seeded with an initial deposit, often accompanied by matching funds for lower-income households, and usually earmarked for specified uses such as paying for higher education, purchasing a home or saving for retirement.

a non-custodial parent who does not pay court-mandated child support to a custodial parent, as mandated by the courts, will build up a liability known as child support debt, or “arrears”. This debt may include fines, fees and interest charges.  For the most part, states, rather than the federal government, handle child support debt.

a member-owned, member-controlled food retail business that often resembles a privately owned grocery store in the merchandise that they provide. Co-ops operate democratically and any profits generated are returned to the members.

a nonprofit credit union chartered with the mission of providing appropriate financial products and services to low- and moderate-income people and communities.  

a financial institution that has a primary mission of community development and provides credit and financial services to underserved markets and populations. CDFIs have provided critical loans to expand healthy food retail in many communities.

a process by which a community uses resources to attract capital and increase physical, commercial, and business development and job opportunities for its residents.

a federal agency, established under the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, charged with regulating products and services offered to consumers.  The CFPB is charged with enforcing financial legislation meant to protect consumers from abusive and deceptive lending. 

a small-scale store that typically sells a limited selection of foods and other products. The term “corner store” encompasses a diverse range of small stores—both independent and chain stores; in rural, urban, and suburban settings; and not always located on a corner. Other terms that are commonly used to refer to this type of store include small-scale store, convenience store, neighborhood store, and bodega.

a quantification of a person's creditworthiness, based on a person’s past credit history, used by lenders to assess whether a person is likely to repay his or her debts.  The most common is the FICO score, originally developed by Fair Isaac Corporation.

costs associated with activities or services that benefit specific projects, e.g., salaries for project staff and materials required for a particular project. Because these activities are easily traced to projects, their costs are usually charged to projects on an item-by-item basis.

a term used to describe the ability of all people to fully participate in the economic life of their community or country.  It also refers to public and private efforts to bring underserved consumers into the financial mainstream (also known as financial inclusion).

a retirement plan, set up by an employer. Employers may offer defined benefit or define contribution plans, both, or no plan at all (they not legally required to offer retirement plans). Typically, employer sponsored retirement plans are tax-deferred, meaning that the employee does not pay taxes on the funds until he/she begins making withdrawals.  Employers receive tax benefits for contributions into employee retirement plans.

one in which all can participate, prosper, and reach their full potential.

just and fair inclusion into a society in which all can participate, prosper, and reach their full potential.

a retail market featuring foods directly sold by farmers to consumers. Typically outdoors, farmers’ markets provide residents with high-quality, fresh, healthy food. They also help support small-scale farmers. Farmers’ markets range in size from small, seasonal markets in a parking lot to large markets run by an organization and serving several thousand shoppers. They are generally organized as nonprofit, community-serving entities and thus combine social and economic objectives. Their vendors need to make profits, but the markets themselves are not typically profit-seeking entities.

a U.S. government corporation that preserves and promotes public confidence in the financial system by insuring deposits in banks and thrift institutions up to $250,000; by identifying, monitoring and addressing risks to the deposit insurance funds; and by limiting the effect on the economy and the financial system when a bank or thrift institution fails.

the central bank of the United States, often referred to as the "the Fed," created by Congress in 1913.  The Fed is an independent entity, with Congressional oversight, headed by a government agency known as the Board of Governors. Twelve Federal Reserve Banks are located in major cities around the country.  Supervised by the Board of Governors, they serve as the operating arm of the Fed.

a process whereby participants meet one-on-one in regular sessions with a “coach” who helps them set financial goals, tailored to their individual circumstance, and commit to – and follow through on – certain actions.  In recent years, financial coaching has emerged as a complement to financial education and counseling.

a private or public sector institution that deals with financial transactions such as investments, deposits or loans.  Depository institutions, such as banks and credit unions, pay interest on deposits and use deposits to make loans. Non-depository institutions, such as insurance companies, brokerage firms, and mutual fund companies, make money by selling financial products.

services offered by mainstream financial institutions such as banks, credit unions, credit-card companies and insurance companies.

a nonprofit, focused on access to healthy food. An FAO advocates for community need and brings a public health perspective to the table in the administration of a fresh food financing initiative.

a centrally located facility with a business management structure facilitating the aggregation, storage, processing, distribution, and/or marketing of locally/regionally produced food products

a financial award given by the federal, state, or local government or by a private foundation to an eligible grantee. Grants are not expected to be repaid by the recipient. Most grants are competitive.

a loan guarantee is a promise by a person or an entity to assume a debt obligation in the event of nonpayment by the borrower. The federal government provides loan guarantees to small business owners.

whole foods such as fruits, vegetables, whole grains, fat-free or low-fat dairy, and lean meats that are perishable (fresh, refrigerated, or frozen) or canned as well as nutrient-dense foods and beverages encouraged by the Federal Dietary Guidelines for Americans

a business that sells fresh healthy foods (see definition above) in underserved areas. At minimum, a healthy food retailer offers for sale at least 3 different varieties of food in each of the 4 staple food groups (bread and grains; dairy; fruits and vegetables; and meat, poultry, and fish), with perishable food in at least 2 categories, on a daily basis or the store has at least 50 percent of its total sales (including food and nonfood items or services) from the sale of eligible staple foods

the market value of a house minus any remaining mortgage payments.

a tax subsidy benefiting homeowners by allowing them to deduct the interest paid on a loan used to purchase, build or renovate upon their personal residence. Since low-income households are less likely to own a home or to itemize on their taxes (only a third of all U.S. households itemize), they are unlikely to benefit.

a series of financial and zoning incentives provided by governments to encourage the establishment of healthy food retail in underserved communities. These incentives attempt to address some of the disincentives facing food store development and operation.

a measure of the uneven distribution of income among various groups in a society/economy. Income inequality is often measured as the percentage of overall income that accrues to a particular quintile (a quintile is one fifth, or 20%, of a whole).

costs for activities or services that benefit more than one project. Their precise benefits to a specific project are often difficult or impossible to trace. For example, it may be difficult to determine precisely how the activities of the director of an organization benefit a specific project.

an account designated for retirement savings.  Different types of IRAs include the traditional IRA, Rollover IRA, Roth IRA, SEP IRA and Simple IRA, all of which have unique eligibility requirements, withdrawal restrictions and tax benefits.

new jobs that did not exist prior to the start of the project and came about as a result of the existence of the project. These activities can include the development of a new business, the expansion of existing businesses, or the construction of a new healthy food retail location.

sometimes referred to as a discount supermarket, it is a self-service retail store that carries a reduced number of unique products, typically around 4,000. Store sizes vary but are typically between 13,000 to 25,000 square feet. Limited product offerings and store size translate to reduced costs for consumers.

financial wealth that can be liquidated quickly such as cash, funds in checking or savings accounts, or equity in stocks, mutual funds or retirement accounts (though withdrawals often come with penalties).

having relatively little income.  Definitions vary, but typically include households earning below 150% or 200% of the poverty level. 

a middle point whereby if all individuals or households are divided into two equal groups half would have income above the median and half below. 

a business operating on a very small scale, typically with 10 or fewer employees and a small amount of capital.

Investments made by foundations in support of charitable purposes, with the explicit understanding that those investments will earn below-market returns, adjust for risk and mission. Although a program-related investment is not grant, it counts toward a foundation’s payout requirements in the year a disbursement is made.

sometimes called “food trucks,” are food retailers that sell mainly prepared foods. Mobile vendors frequently change locations depending on foot traffic

any federal appropriation or financial assistance (including grants, loans, and equity investments) that are raised by a national fund manager to carry out the goals of a bill, policy, or initiative

the value of assets (what you own) minus liabilities (what you owe) for an individual, household or company. 

an organization (including a faith-based organization or community development corporation) exempt from taxation by reason of paragraph (3) of Section 501(c) of the Internal Revenue Code of 1986

A small, short-term unsecured loan that a borrower promises to repay out of their next paycheck.  Interest rates on payday loans are high, often resulting in the borrower needing to take out additional loans if they are unable to pay back the original loan.

PolicyLink is a national research and action institute advancing economic and social equity by Lifting Up What Works.

a card issued by a financial institution that is preloaded with funds that can be withdrawn as needed. Prepaid debit cards may serve as an alternative to a bank or credit card, especially for those with low credit scores or no credit history.  The cards include an assortment of fees applicable when they are purchased (“set-up” fee), cash is added, funds are withdrawn and/or, in some cases, when a user checks their balance. 

Investments made by foundations to support charitable activities that involve the potential return of capital within an established time frame. PRIs include financing methods commonly associated with banks or other private investors, such as loans, loan guarantees, linked deposits, and even equity investments in charitable organizations or in commercial ventures for charitable purposes.

a federal income tax deduction to cover the cost of real estate taxes.  Since low-income households are less likely to own a home or to itemize on their taxes (only a third of all U.S. households itemize), they are unlikely to benefit.

jobs that provide wages that are comparable to or better than similar positions in existing businesses of similar size in similar local economies, offer benefits that are comparable to or better than what is offered for similar positions in existing local businesses of similar size in similar local economies, and are targeted for residents of neighborhoods with a high proportion of persons of low income

a period of economic decline in which a country’s Gross Domestic Product (GDP) declines for two consecutive quarters.

Reinvestment Fund brings together individual investors, banks, government officials, private foundations and faith-based and community organizations to invest in projects that transform communities. 

a distinct loan fund established exclusively as a resource to pay for eligible business development and operational activities that, when repaid, generates additional program income to make new loans

a privately-owned sole proprietorship, partnership or corporation that the U.S. Small Business Administration (SBA) defines as having fewer than 500 employees.

a nine-digit number issued by the U.S. Social Security Administration to citizens, some temporary residents and permanent residents. The number is used to track Social Security benefits and for other identification purposes.

funds owed on the balance of loans used to cover the cost of higher education including tuition, books and living expenses. There are two types of student loans: federal loans, subsidized or unsubsidized, sponsored by the federal government and private student loans. Federal loans are less expensive than private loans. Rising college costs have forced millions of students to take on loan debt in recent years, leaving many with an enormous financial burden, whether or not they graduate.

smaller stores that sell mostly packaged and perishable food items with a basic, small selection of products. Sometimes called “mom & pop” stores, annual sales are less than $2 million.

formerly known as the Food Stamp Program, provides financial assistance for purchasing food to low-income people in the United States. Administered through the U.S. Department of Agriculture, the program is available to nearly anyone with little income and few resources. Participants use Electronic Benefits Transfer (EBT), an electronic system to obtain food and beverages approved through SNAP.

a coalition of national organizations working to educate and engage their networks about why equitable, inclusive and progressive tax reform is crucial to building the long-term security of families, communities and the national economy. www.taxallianceforeconomicmobility.org.

income tax groupings applied to different sets of taxpayers, based on income. Currently there are seven tax brackets in the individual tax code, ranging from 10% to 39.6 percent. 

an expense that can be subtracted from a taxpayer’s adjusted gross income when calculating taxable income, thereby reducing their overall tax liability. Each year, taxpayers must either take the standard deduction, a fixed dollar amount determined annually by the IRS, or itemize their deductions by claiming certain eligible expenses, such as home mortgage interest or savings in an individual retirement account. Households typically itemize if the total value of the deductions for which they are eligible is greater than the standard deduction.

a tax benefit that lowers an individual’s tax bill by reducing the amount of income subject to taxation, lowering the rate at which income can be taxed, or directly reducing a household’s tax bill. 

a provision in the tax code that allows people to reduce their taxes.

forms used to report taxable income to the federal and state governments.

The Food Trust's mission is to ensure that everyone has access to affordable, nutritious food and information to make healthy decisions. Working with neighborhoods, schools, grocers, farmers and policymakers, we've developed a comprehensive approach to improved food access that combines nutrition education and greater availability of affordable, healthy food.

the federal agency responsible for promoting economic prosperity and ensuring the nation’s financial security. The Treasury Department serves four basic functions: formulating and recommending economic, financial, tax, and fiscal policies.

a federal program that offers free tax help to lower-income households, persons with disabilities, the elderly and limited English speaking taxpayers who need assistance in preparing their tax returns. Volunteers certified by the Internal Revenue Service (IRS) provide free basic income tax return preparation with electronic filing to qualified individuals at VITA sites.

a term often used interchangeably with “wealth inequality”, referring to the unequal distribution of assets within a population. Recent research by the Pew Research Center, shows the gap between the richest Americans and everyone else is the largest it’s been since the Federal Reserve began collecting wealth data.

a term used by PolicyLink to describe policies and practices that deplete the wealth of lower-income households and households of color, undermining their ability to build their financial security.