EL PASO, Texas – El Paso businessman and philanthropist Woody Hunt and his wife announced a $500,000 investment over five years to help fight poverty in El Paso County.
The money will come from the Woody and Gayle Hunt Family Foundation, according to the announcement Monday afternoon.
In the short term, the money will help families who are struggling with Covid-related economic troubles. Families may be eligible for a one-time cash payment of $500.
The Hunt foundation will also work with the Family Independence Initiative to establish the El Paso County Covid-19 Emergency Relief Assistance Fund.
The Family Independence Initiative, or FII, has established similar funds across the nation and “brings a successful poverty reduction model that combines community support systems with direct investment in people,” according to a statement issued by the Hunt foundation.
The foundation has committed to a $100,000 challenge grant for each of the next five years, with up to $100,000 coming in the first year.
FII will partner with EPISO/Border Interfaith to make sure that “hard-to-reach” families know about the new resources that will be available.