Family Independence Initiative Presentation — original pdf

Backup

Ivanna Neri| Austin DirectorHISTORICAL SOCIAL CAPITAL IN ACTIONChinatownSan FranciscoGreenwoodTulsaWeeksvilleBrooklynLower East SideNew YorkBarn RaisingDeKalb County, INBeryl Ford Collection/Rotary Club of Tulsa2Why make povertytolerable when we canmake it escapable?75%move above poverty in 4 years39%don’t access federal subsidies50%fall right back under in 5 years$20,000$38,040$100,065$61,720Household Income (quintiles)BenefitsNumber of householdsMedian Household IncomeFederal Poverty Line3Why make povertytolerable when we canmake it escapable?$20,000$38,040$100,065$61,720Household Income (quintiles)BenefitsNumber of householdsMedian Household IncomeFederal Poverty LineThe GapLack of reliable informationLimited access to affordable capitalA misplaced focused on individual achievement4FII’s Approach: Trust and investin families$20,000$38,040$100,065$61,720Household Income (quintiles)BenefitsNumber of householdsMedian Household IncomeFederal Poverty LineUpTogether FundCapital available based on proven initiative5How Systems See Me•Single mom•Section 8 housing resident•Food stamp consumer•Underemployed•GED graduate•580 Credit ScoreHow I See Myself•Mother of three A students•Active member of my community•Participant in a $10,000 Lending Circle•Entrepreneur paying back a small business loan•FII Scholarship recipient•780 Initiative Score6Our ApproachWe providedirect investmentsin the hands of families so they can achieve their own well being.Direct InvestmentWe believe that society needs to recognize and match the individual and collective effort families are making through social capital.Social Capital We trust that all families can achieve their goal when they have choice and control over decisions that impact mobility.Choice and ControlReceive technology stipend from FIIInput data in exchange for payment during first 6 monthsAfter 6 months, eligible to access FII capital & resources Recruit additional families to form new cohortsFamilies organize and meet in cohort groupsFII PARTNERS DIRECTLY WITH FAMILIES892018 UpTogether Fund UsageNumber of Overall Draws Total Fund Disbursement2,356 $1,344,498Fund Category% Total Disbursed% Total DrawsDollars DisbursedFinancial Health34%32%$463,266Housing15%12%$199,963Transportation12%12%$162,728Education12%11%$158,048Children & Family7%7%$99,326Health4%3%$57,755Entrepreneurial Activity3%3%$44,859Community1%1%$8,212Other11%18%$150,341During two years of engagement with FII, an average family reports:$2,591Families increase their total liquid assets from $561 to nearly $3,152.27% INCREASE36%DECREASEwith aof total incomein federal assistance10$10,896,066+FII Families have exchanged an estimated $10,896,066+ in social capital through activities like watching each other’s children, cooking for one another, lending money, etc. During Two Years of Engagement with FII, an Average Family Reports:$3,200Max amount of direct capital families receive during two years in FII. $15,180Overall economic impact of families increased spending on the cash economy, government revenue, and social capital engagement over two years in FII is $15,180.11Using technology to build trustand invest in families10,000,000+Data Points + GrowingFAMILIES JOURNALMONTHLYONLINE COMMUNITY BUILDING12Data for FamiliesData forStaff + PartnersData forOutside StakeholdersJournaling PlatformAustin Initiatives13Health InitiativesBusinessesEducationLeadership goalsAustin Initiatives14Book writingLending Circles/TandasBusiness coachingHome ownership Business growth Opening nonprofitsMain Feed15Groups16Events17Find/Be The Expert18Journal19Longitudinal Data Monthly Initiatives, Accomplishments and FeedbackEducation & Skills•Improved Grades•Improved Attendance•After School Programs•Graduation•Scholarships•Adult Classes•Workshops•Continuing EducationHealth & Housing•Insurance Coverage•Preventative Care•Checkups•Routine Test•Immunizations•Therapy•Mental Health•Health Improvement•Weight Loss•Join Gym•Blood Pressure•Cholesterol•Bought a Home•Moved (Reasons)•Improved HousingResourceful & Leading•Shares Training•Involved/Lead Civic Activities•Attends Leadership Workshops•Leads FII Activities•Attend TrainingsNetworking & Helping•Refers Friend to a Job•Helps Other Start Business•Refers Other to Resource•Helps Others in Crisis•Expands Job Networks•Recruits & Orients New FII Families•Savings Account•Checking Account•Cash On Hand•Personal Loans Others Owe You•Credit Card Debt•Auto Loans•Education Loans•Personal Loans Owed•Real Estate Loan•Alimony•Child Support•Other Debt/Obligations•Credit ScoreBALANCE SHEETACTIVITIESINCOME•Income from Employment•Formal (W-2, 1099-INT)•Informal (Under the table)•Own Business•Formal•Informal•Type of business•Child Support•Other Income (Not FII)•Supplemental Security Income•Unemployment Income•Lump Sums•Food Stamps•Calworks/ DTA•WIC•Subsidized Portion of Housing•Other20UpTogether Fund21New Fund Request22Data for Staff: Suite of Analytics Apps23Data for Staff: Dynamic Dashboard24FII’s Criteria for site expansion❑At least 500 –1,000 low-income families that fall within 30-150% of the area media income❑Funding available for the expenses associated with the site including direct and shared costs❑A government agency has expressed interest in working with FII to measurably improve how they support low-income families own self directed mobility❑Multiple organizations who plan to play complementary roles working with FII❑Multiple families and neighborhoods who want to bring and establish FII in their communityDemographic FitFunder SupportCommunity InterestLocalPartnersGovernment SupportHow Systems See Me•Single mom•Section 8 housing resident•Food stamp consumer•Underemployed•GED graduate•580 Credit ScoreHow I See Myself•Mother of three A students•Active member of my community•Participant in a $10,000 Lending Circle•Entrepreneur paying back a small business loan•FII Scholarship recipient•780 Initiative Score26Visit fii.org for more information.AppendixWhen resources are readily available, families earn moreAccessing Resources & Improvements28Avg. Monthly Income by Months in FIIAccessed vs. Did Not Access the UpTogether FundExamples of findings29Examples of findings30Demonstrated that families on SSI have the capacity to save3132Analyzed how families rise out of povertydespite income volatilityFII(cid:9)Individual(cid:9)part(cid:9)of(cid:9)MAF(cid:9)Lending(cid:9)Circle3%FII(cid:9)Lending(cid:9)Circles16%Informal(cid:9)FII(cid:9)Lending(cid:9)Circle5%Informal(cid:9)FII(cid:9)Saving(cid:9)Group2%Informal(cid:9)Lending(cid:9)Circle5%Informal(cid:9)Lending(cid:9)Circle(cid:9)(not(cid:9)all(cid:9)FII)60%Informal(cid:9)Saving(cid:9)Group9%Not Just FII Resources: Families are Pooling CapitalSample of 77 Groups Pooling $1.67 Million33