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Catalyst Miami to Launch Lending Circles Program

With founding support from the JPMorgan Chase Foundation, Catalyst Miami announces that it will soon launch an innovative social lending program which will help financially excluded communities of Miami-Dade County gain access to the financial mainstream. Catalyst Miami’s Lending Circles program will help consumers under-served by traditional banking institutions build credit, develop sound spending habits, and receive financial coaching.

The Lending Circles program will focus on formalizing social lending circles popular in many of the immigrant communities of Miami-Dade County. Participants in the program will have the opportunity to connect to the formal banking sector while building savings, establishing credit scores, or repairing damaged scores. By the end of the program participants will have both credit histories and savings which can be used for anything from the seed capital needed to form a new business to a simple desire to build savings.

Catalyst Miami will work closely with participants to help them reach their financial goals by offering financial coaching services such as credit counseling and family budgeting, in addition to benefits enrollment, tax services, and career services.

For more information please contact:

Terry Tasker, 786-527-2574, terryt@catalystmiami.org

Funded by:

Grant Seeking 101 Webinar - Notes

3/20 Grant Seeking 101 Webinar

Notes

Managing Expectations:

·         Establish relationships, cultivate, steward

·         Reality check

o   How are you serving the community?

·         Individual donors

o   Board support

o   Establish track record

·         Identify local grant makers

·         Start-ups

o   What makes you unique?

o   Pitch project as a pilot – reasonable $$

o   Guidestar 990’s – search

·         Call and Ask! Program officer

·         Match funder with organization’s mission

·         Competitor’s funders – 990’s

·         Corporate foundations

·         Reserve searching

Develop a funding plan:

·         Begin identifying 6-12 months in advance

·         Organize by deadline

·         Identify who will write/assign

·         Multiple proposals in pipeline

·         Proposal lead – programs

Build a portfolio of documents:

·         IRS determination letter

·         List of BOD – keep current

·         990’s, current budget, 3-5 year budget

Grant review:

·         Multiple reads, board members, other staff

·         Cycles – 3 to 6 months

·         Impact your project will make?

·         How is this shared?

·         If you use percentages, give context

·         Long term results

Financial piece:

·         Be proactive about financial story

·         Short budget narrative

·         Use emotion in proposal to connect foundation to your org’s work

·         Storytelling and numbers

Qualitative vs. Quantitative

·         Need to explain impact

·         Current data to demonstrate need and relevance** examples

o   U.S. Census Bureau

o   School Report Cards

o   FBI’s US Crime Data

o   Kids Count

o   Women’s Health Care

o   Local Health Departments

Compelling program description:

·         Be realistic about metrics

o   No more than 5 objectives/outcomes

o   KISS-simplicity-not pedantic

o   Do you have resources to track the metrics?

o   Do you have the budget?

o   Ways to move indicators

§  Break into blocks, # served, $

People give to people, connect head to heart

·    Beyond the proposal:

o   DO

§  Site visit – “best chance”

·         Schedule when activity in progress

·         Have board member and client present (prep them)

·         Allow sufficient time

o   DON’T

§  Take phone calls

§  Use phone or ipads, even for notes

§  be unorganized

§  don’t overdo snacks

§  BE ON TIME!

§  No long powerpoint presentations

CASE STUDY:

·         Shared Database:

o   Better coordinator of services

o   Better referrals

o   Collaboration – especially with data

o   Cost sharing, demonstrate impact together

o   Better assess impact of grant investments

·         Questions

o   Letter of intent – no more than 2-3 pages

§  How it is going to be used will determine its content

o   Time spent writing a grant

§  Be precise with goals, not a life project

o   Create grant pipeline

§  Spreadsheet with dates, $’s, etc.

o   Foundation’s not in community – program or office in community

o   Repeat funding for same program

§  Specify program foundation is interested in

§  Focus on report

o   Develop relationships with program officers

§  How often should you contact a program officer if no response? Wait a week, and then call back. 

Asset & Opportunity Network: House Committee Attacks Financial Protection

House Committee Attacks Financial Protection Refute unfounded stories that the CFPB is hurting consumers. Despite having proven its worth as an effective watchdog for public interest, the Consumer Financial Protection Bureau (CFPB) is under attack. Last week, the House Committee on Financial Services released an online survey asking people to weigh in with stories about how the CFPB is hurting the public. These unfounded claims suggest that business as usual in Washington is best for America. We know the real value of consumer financial protection. We need to tell those stories! As our partners at Americans for Financial Reform put it in their announcement, “We can’t let the industry win. What the Committee should hear is the real story about financial abuses that impact Americans.” Do you have 5 minutes? If so, share a story about how the CFPB has helped you or the clients you serve. The CFPB is a positive force in the financial marketplace, so please take a moment and tell the House Committee the side of the story it doesn’t want to hear. Thank you for all you do to protect consumers in the financial marketplace, today and every day. Want to share your story with us or send other feedback? Email assetsandopportunity@cfed.org. Make sure you receive e-mail updates from the Assets & Opportunity Network.  Add assetsandopportunity@cfed.org to your approved senders list. *** Was this e-mail forwarded to you? If you would like to receive updates from CFED click here to subscribe. This e-mail was sent to: kamalahf@catalystmiami.org. Click here to unsubscribe from e-mail sent by CFED. CFED 1200 G Street, NW Suite 400 Washington, DC 20005 202.408.9788

Webinar Recap: How to Build Strong Ties with Wealthy Donors

SPEAKERS: Curtis R. Simic, Cynthia Simon Skjodt

HOST: Holly Hall

How do we engage donors?

• Make Connections
• Gather information on their desires and interests now. What are their current engagements with the community at large? Research their annual givings.
• Be a good listener, not just a talker.
• Always remember that the relationship is institutional too, not just personal with the program officer.
• It takes time.
• What are the connections to our organization, mission, and specialties?

What do you look for in a major donor prospects?

• Linkage – personal ties
• Interest – past giving
• Ability – to give

How do we approach a wealthy donor? 

• Listen and ask questions that will lead them to open up to you.
• Ask yourself: what is important to this donor?
• Ask mutual contacts to connect you with the donor.
• Listening is key! (Listen for what is not being said and what is being said).
• Think about the donor’s circumstances and perspective.
• Our job is to bring the conversation back on track. Follow the thread that is being left out by the donor.

Donor’s Perspective:

• Keep donors engaged. Make them feel like they are a part of the organization.
• Don't send generic mailings--make it personal. 
• Ask them to visit the facilities or projects so that they are able to see the final product of their donation.
• Invite them to events and gatherings.
• Seeing the project at hand; seeing the need of the money and the difference it’ll make.
• KEEP THEM IN THE LOOP!

Top Errors in Major-Gift Asking Process

1.       Inadequate stewardship on previous gifts. Failure to ensure donor feels satisfied that previous gifts made a difference.

2.       Failure to follow up on donor concerns. (Concerns and objections are a normal part of the process).

3.       Asking too early/under asking/not asking.

4.       Lowering the ask too soon.

5.       Not listening to the donor.

6.       Asking for something the donor does not want.

7.       Not considering what the donor wants.

8.       Not engaging the donor in a full relationship.

9.       Asking husband and ignoring a wife or adult child.

10.   Not going to the donor to ask.

11.   Asking in the wrong environment.

12.   Surprising the donor.

13.   Having the wrong person ask.

14.   Not using an asking team. (Asking team includes people that are strategically linked to the donors interests and linkages – includes a peer, someone they respect and trusts, and the development officer of the organization).

15.   Failure to follow up regularly during the process.

16.   Not paying attention to timing.

War on Poverty, Part III: A Closer Look: State by State

Blog Feature: Yesenia Rojas

As we commemorate the 50th anniversary of the War on Poverty, it is important to see the effects, progress, and problems taking place at the national level and also among all 50 states.

The Half in Ten report "Resetting the Poverty Debate: State of the States 2013" provides fact sheets and tables highlighting data and other information that evaluate a state’s poverty rate. They analyze unemployment insurance coverage, affordable housing, gender wage gap, etc, and show how inextricably linked the War on Poverty is to other factors in our communities.

One of the most important causes is unemployment insurance cuts; a strong trend in the data shows southern states like Florida and Georgia lead the nation with worsening coverage numbers.

What can we do? A call to action is necessary.

The Center of Budget Priorities explains that "approximately 5 million Americans are expected to lose emergency unemployment benefits over the next 12 months," without a doubt the shocking state-by-state impact numbers should urge citizens to contact Congress.

If our government does not invest in social programs the future of this war seems dismal.

Social security, food stamps/SNAP (the Supplemental Nutrition Assistance Program), Medicare/Medicaid, and federal support for education should all be well funded so that our wavering economy may be sustained.

The safety net programs provide security and support both nationally and at the state level.

War on Poverty, Part II: Supporting the Solutions Nationally: Education & Social Progress

By: Yesenia Rojas 

While unemployment rates increase and wages continue to plummet, many families are facing dire challenges, such as: increased housing costs, access to child care, and meeting other basic needs. If wages are not accommodated to suit the basic needs of breadwinners, then we have no fighting chance to stay afloat.

What can we do? Support assistance programs. As congress considers reckless cuts this new year, we must instead fight for their funding.

Even though our economy has experienced growth since the recession, not every citizen has felt the effects of these changes, meaning that intelligent and strategic investing is pivotal. The fiscal dialogue should face and tackle the issues that will impact the War on Poverty in years to come:

•      Backing a fruitful economy that will serve everyone regardless of tax bracket.

•     Making sure all citizens can feel the effects of a successful financial boom, not only those at the very top. Creating new jobs and supporting social agendas that will propel positive and fair change should be of utmost importance.

•   14.5% of U.S. women are in poverty and make only close to 76.5% of what their male counterparts do. Although females are predicted to participate more in the workforce than men in the next 5 years these numbers are proof that Americans can do more to employ and support families. 

Data shows that between 1959 and 1973 America was able to "cut our poverty rate nearly in half" with the use of strong safety net programs—these programs are undeniably a driving force to achieving success in this war.

What benefits will we reap? Only the strongest foundation for eliminating poverty in future generations; the financial support system required to educate them. As the workers of tomorrow we must ensure that college is affordable for all students: race, ethnicity, gender and class cannot play a role in impeding success.

Everyone in our country should be allowed the opportunity to succeed; after all, freedom and equality are fundamental American values.

Our economy should reflect this financial abundance, making the future generation and their contributions crucial to our War on Poverty in the next 50 years.

Although the Half in Ten report states that "we haven’t responded well enough to the economic and family changes that have occurred,” the decisions we make now on policy support, education, and social funding will deeply affect the strength of our antipoverty programs and essentially our economic stability.

CFED Released an Assets & Opportunities Scorecard for Florida

Nearly Half of Florida Households 

Are One Crisis Away from Financial Devastation 

Our score is better but we are not in the clear. Our score moved from last year's 47 to 39, however for the indicators related to overall Health of Florida's residents we are a woeful 49!

"Despite an improving national economy, 48.7% of Florida households are in a 

persistent state of financial insecurity, according to a report released today by the Corporation for Enterprise Development (CFED). The report also found that state policies are doing little to improve the financial security of Floridians."

Key Findings:

• The average college debt for students graduating increased 8% from $27,150 in 2011 to $29,400 in 2012. 
• As student loan debt increased, so did the student loan default rate. Fifteen percent of borrowers in 2012 defaulted on their student loans within three years of starting repayment, up from 13% in 2011. 
• The percent of employees participating in employer-provided retirement plans continued to decline from 47% in 2007 to 44% in 2012. 
• Although the racial wealth gap narrowed slightly between 2010 and 2011, households of color still fall far behind white households. They have approximately one-tenth the median net worth of white households ($12,377 and $110,637, respectively) and are considerably less likely to own a home. 
• The homeownership rate for households of color is 26 percentage points lower than the rate for white households (46% and 72%, respectively). 
• Only eight states (Maryland, New York, Maine, New Jersey, Connecticut, Washington, Minnesota and Rhode Island) have adopted 50% or more of the 67 policies that can support family financial security. Meanwhile, seven states (Idaho, Missouri, South Dakota, Alabama, Alaska, Mississippi and Wyoming) have adopted fewer than one-quarter of the policies.

War on Poverty, Part I: National Antipoverty Programs Paving the Way for a Win

Guest Blogger: Yesenia Rojas

In 2014 the Half in Ten campaign released the “The War on Poverty: Then and Now” report that entails the progress we've made as a country with our ongoing mission to save millions of citizens from poverty and what we've done to make  those changes powerful and lasting. 

Bottom line: the United States has not failed; the war on poverty is still being fought and battles are being won.

How? Through policy reforms that resulted in safety net programs which aided our success: Medicare, Medicare, Head Start, Pell Grants, nutrition assistance and expansions to Social Security. Without these programs it is expected that our poverty rate would be doubled today.

President Lyndon B. Johnson's State of the Union Address 50 years ago launched this "unconditional" war and the data collected reflects progress and hope for the future.

Currently 46.5 million people are under the federal poverty line. If we were to look at the Census Bureau data from previous years, it has shown that ongoing efforts to improve numbers throughout history have worked. A new study from Columbia University shows that with the help of our safety net programs poverty was reduced from 26% during the time of President Johnson's speech to 12% in 2012.

In fact, incredible change resulted only 10 years following the war's announcement; our country's poverty was at a record low of 11.1%.

Yet, as safety net programs prove helpful and successful, the variable in our fight has definitely been a wavering U.S. economy.

Job Security as a Result of Volunteering: These Are the Facts

Blog Feature: Yesenia Rojas

An important deciding factor for many job interviews nowadays is probably something most applicants overlooked in the past: volunteering.

Recent studies conducted by the NCoC have proved that civic participation is clearly related to economic stability. The 2011 and 2012 reports show that engagement in nonprofit activities, trust and teamwork are linked directly to financial and social success in our communities.

With U.S. employment rates plummeting in recent years it seems volunteer work may offer a solution to citizens who are looking to secure jobs and become eligible for competitive salaries.

According to the CNCS (Corporation for National and Community Service) “volunteers have a 27 percent higher likelihood of finding a job after being out of work than non-volunteers.”

The deciding factor for finding employment was not affected by demographics or work experience in the least. In fact, the rate of employment sky rocketed among people without high school degrees and those residing in rural areas.

Not only do volunteers living in these areas have a 55 percent higher likelihood of getting a job but volunteers without a high school diploma have a 51 percent heightened probability than those without civic experience.

Other facts support the undeniable correlation:

• The NCoC studies are proving that civic life must integrated in all of society to protect the job market, economic success and a strong nonprofit presence in our society.
• Community leaders in varying areas must help bridge the gap between businesses and civic involvement. They should support government policies that invest in solidifying “social cohesion” thru volunteering.

Everyone should work together to achieve the obviously reasonable solution to many of the economic fumbles we face—civically strong communities will withstand greater issues and grow with increasing citizen participation.