Item3b_FamilyIndependenceInitiative_CentralTexas — original pdf

Backup

Trust and Invest In families. Our Vision Across the United States, families and communities living in low income are recognized, trusted and invested in, so they may achieve their goals and dreams. Our Mission We trust and invest in low-income families across the nation so they can work individually and collectively to achieve prosperity. History ● FII was founded in 2001 in Oakland, California by social innovator Mauricio Lim Miller ● In 2010, Michelle and Barack Obama recognized FII’s work and appointed Miller to their White House Council for Community Solutions. ● The New York Times, New America Foundation, Chronicle of Philanthropy and the Stanford Social Innovation Review have published FII’s work. The Problem Current system blames the person for their situation ● ● ● ● ● Current system is failing $400B spent annually on fighting the War on Poverty Poverty rates have not changed significantly in the last 50 years Social capital exchanges and and yet community led solutions are largely unrecognized and underinvested in Majority of funds go to a deficit based model of programs and services, rather than investing directly into community The Reality ● ● ● ● Deficit-Based System 50M people live at or below the poverty line in the US* 75% 39% move above the poverty line in just 4 years do not access Federal Subsidies 50% fall back under the poverty line in 5 years * What contributes to this system of inequality? Federal poverty line Median Household Income Benefits decrease as income increases for communities with low income, but benefits increase for the upper class s t fi e n e B s d l o h e s u o H f o r e b m u N | | $20K $38K | $61K | $100K Our approach Strength-Based Approach UNRESTRICTED CAPITAL COMMUNITY CHOICE Unrestricted cash or cash equivalent investments directly in an individual or household. People do not have to show their “neediness” in order to receive investment. Incentivize and promote social capital exchanges present in communities, where people rely on each other and increase their social and economic mobility. Individuals and families have full agency over their decisions and how they utilize their direct investments in order to achieve mobility. A technology platform for the exchange of financial and social capital Users MEMBERS PARTNERS ● Hard-working, low-income individuals across the ● Philanthropic, government, or academic sectors United States ● Provide direct unrestricted capital investments in ● 50-150% of the federal poverty line members ● Not in active crisis ● Learn from and contribute to the growing ● Has home or mobile enabled internet access strength-based data about members and their communities Family Impact 21% 42% INCREASE in total income DECREASE in federal assistance $15,180 $1,856 Families increase their total liquid assets from $629 to nearly $2,485 The average investment directly to a family is $3,200. The overall economic impact of a FII family is $15,180 How Systems See Me • Single mom • Section 8 Housing • Food stamps consumer • Underemployed • GED Graduate How I See Myself • Mother of two A students • Active member of my community • Participant of a $10K lending circle • Entrepreneur paying back a small business loan • FII Scholarship Recipient Central Texas 12 months later... 380 Families across Central Texas 25% INCREASE in total income Families increase their total liquid assets from $1,290 to $2,087 $3,121 Decrease in liabilities from $25,698-$22,577 $1.2M Direct cash transfers $ 8 0 0 Family Impact COVID-19 Response GiveTogetherNow Geography Total $ raised Total of families National Texas Central Texas $130 million $26 million $16 million 260,000 ~ 56,000 +8,000 Covid response in Central Texas Demographics: $16 million Hispanic/Latino 60% Black 28% White 6% Asian 3% ● Shelter and homelessness prevention ● Bills such as utility, electricity, phone, medical, etc ● Food ● Digital needs such as devices, internet fees, etc ● Victims of domestic violence ● Formerly incarcerated people ● Immigrants ● LGBTQ+ ● Seniors 2021 Efforts in Central Texas SBA: Community + Unrestricted Capital + Choice Neighborhood/zip code St. Johns, Dove Springs and Georgetown Investment Cadence $1,000 Monthly payments x 12 months Things that we want to learn ● Relationship between SBA approach and housing ● The role of community in housing stabilization ● The impact of this approach in policy making/decision stabilization making How to Help ● Challenge assumptions and misconceptions from deficit based views ● Push for policies that incentivise communities ● Push for more investment to be directed to communities ● Believe in community-driven solutions vs top-down solutions Roadmap to Government Adoption 1. Proof of concept for philanthropy and government: a. 400 families in Central Texas received $3,200 over two years b. 8,000 families received $500-$2,000 during the pandemic 2. Local government adoption: a. Piloting SBA projects (guaranteed income + social capital + choice) b. Lift up evidence + research on SBA c. Looking into internal policies that need to be created d. Looking into internal policies that need to be redesigned 3. State government adoption a. Earned Income Tax Credit 4. Federal government adoption Privacy and Security Data security ● All communication is encrypted in transit (same ● All data is encrypted at rest (i.e. when in our as banking apps) databases) ● All servers and database use auto-key rotation (imagine if your passwords changed on their own regularly) Privacy ● We have tight access controls of who can access what data applications ● We log data access, such as support reviewing ● We don’t collect social security numbers ever ● We don’t share PII with third parties ● Delete photos of government IDs after 30 days Fraud Prevention ● Users scan government ID and selfie, two images get matched against each other ● One payment per household enforced based on ○ User address ○ Email and/or phone number (based on what used to authenticate) ○ Match of full name ● We monitor IP addresses to ○ Prevent multiple applications from the same IP address ○ Match approximate IP location to reported address to identify fraud (i.e. someone in another country trying to use an Austin address)