The Senior Source: Providing Agency and Showing Support to Aging Individuals

“Just because someone is aging, it doesn’t make them vulnerable.” That’s something that Julie Krawczyk, the Director of the Elder Financial Safety Center at the nonprofit organization The Senior Source, wants people to keep in mind when it comes to caring for and about those aged 60 and older.

Located in Dallas, Texas and founded in 1961, The Senior Source provides a range of age-related programs and services to over 22,000 individuals each year that Krawczyk says “focuses on their circumstances and, for many of the individuals, a lack of access.” She says that for many seniors, some of whom have outlived their savings, have been left asking big questions like, “Do I go back to work? Am I worth anything? Does anybody care?”

To help with these crises their Elder Financial Safety Center provides older adults and their loved ones to get expert, professional, and unbiased guidance to ensure financial well-being.”

The ever-growing population of older adults are facing more and more life-altering events that Krawczyk explains “are causing them to be more susceptible to frauds and scams than they have ever been.” This includes issues like the stressors that come from emerging grandfamilies and kinship families and, conversely, the mental and physical impact of isolation and loneliness.

Sadly, incidents of elder fraud continue to rise across the United States, with the FBI reporting over 101,000 victims aged 60 and over in 2023, marking a 14% increase from years prior. Stacey Malcolmson, the President and CEO of The Senior Source, points out that the digital divide for older adults became even greater during COVID-19 when so many things went online.

So how can older generations avoid being victims and be protected from losing millions when it comes to cybercrimes like personal data breaches? For Krawczyk and her team who focus on “prevention, protection and prosecution” through efforts like technology education. It’s also by taking a holistic approach to get to the root causes of what makes seniors not vulnerable, but more liable under the circumstances.

Improving senior’s emotional wellbeing is another major component of The Senior Source’s work and mission, including their emphasis on volunteer work, right within their own organization. “There are so many older adults in our community who are giving back and sharing their time, their wisdom and their commitment,” Malcolmson shares. “It gives these volunteers a sense of purpose and allows them to remain active and engaged.”

Volunteers (including their “friendly visitors” who spend quality time with residents living in long-term care facilities), along with the work of dedicated staff and leadership, are given the opportunity to allow specialized programs like benefits assistance and dementia support to flourish thanks to the support of donors.

With $4.3 million coming from corporate, individual and foundational donations, Krawczyk points out that these efforts can “have a huge ripple effect” right within their own community. “You have an opportunity to make a deep impact, we meet immediate needs, and we look at the big picture.”

Malcolmson also notes that because “only 3% of charitable dollars goes towards older adult causes,” there is an opportunity for donors to think a little differently about how to best serve “the largest and fastest growing age group” in America. She also says that some of the “more sophisticated” donors are looking towards donor-advised funds (DAFs), particularly when it comes to unrestricted giving. “They really trust us, and they want us to put those dollars where we need them most.”

No matter the reason a donor gives towards The Senior Source, Krawczyk says that the support allows the organization to give the elderly in the region a sense of stability and, perhaps most importantly, “we empower them to really take more control of their own life.”