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.

Affordable Care Taking the Lead in Florida

Blog Feature: Yesenia Rojas

Florida is now a frontrunner with 17,908 residents signed up for the Affordable Care Act as of Oct. 1 (nationally over 364,000 Americans are on board). In November, a total of 110,000 citizens—almost four times as many as in October—are now insured with the help of the federal online service.

Our state’s participation numbers are playing a vital role:

Applications completed in the Sunshine State (150,142), Applications for coverage (281,517), Number of plans selected (17,908). And according to the U.S. Census, 3.8 million uninsured residents under the age of 65 live in Florida, the second-highest rate in the country only to Texas.

With more and more Americans becoming eligible for coverage (1.9 million just recently), we might see a powerful surge in Affordable Care patients well throughout March 2014 according to Michael Hash, director of HHS’s office of health reform.

The federal online exchange is programmed to handle about 800,000 consumers a day and enrollment data in Florida proves this may very well happen in the near future with the help of education and outreach by the Obama administration.

Although improved practicality made it a more user-friendly system, technicians at healthcare.gov continue to fix other issues that have intervened in the application process. Officials are quickly working to correct these problems and fix them immediately. Since the site was re-launched in Dec. 1, close to 100% of Affordable Care consumers can now transmit information successfully and accurately.

However, although the Congressional Budget Office estimated that nearly 90 percent of citizens enrolled in the exchange would be eligible for financial assistance, fewer qualified for subsidizes than expected. Only 41% enrolled in the plan, got qualified for aide and also managed to pay monthly premiums.

CMS says that it is too early to determine the subsequent rise in enrollment but things could change before mid-2014. 

If you would like to know more about how you can navigate the marketplace in search of health insurance, contact Catalyst Miami today! Our navigators are ready to help you with you needs. Call us today! 305-576-5001 

 

Civic Engagement = Economic Survival and Success

Blog Feature: Yesenia Rojas

Civic richness directly affects economic stasis. Communities that encourage civic responsibility and engagement have achieved higher employment rates and a boost in economic performance overall.

In 2011, a study on economic resilience and civic engagement showed how different aspects of a community, including communal morale, infrastructure, and job opportunities were heavily affected by healthy civic involvement. After close examination, the NCoC (National Conference on Citizenship) discovered that simple measures, such as attending town/city meetings, registering to vote, voting, and volunteering contribute to solid social solidity in any community.

A new study found that areas with a stronger non-profit presence resulted in an environment where civic participation is weaved into the community fabric. These areas proved to be more resilient during some of the most frightening economic periods in American history, like the Great Depression.

“Volunteering as a Pathway to Employment”, a report from the Corporation for National and Community Service released in June 2013, provided strong evidence regarding the correlation between volunteering and employment. The remarkable truth is volunteering directly impacted the job opportunities of various applicants. A person’s age, ethnicity, gender, specific job market conditions or geographical area were not limiting or negatively associated with the increased employment rate.

Civic engagement develops skills that employers seek: desirable worth ethic, a genuine interest in assigned tasks and good teambuilding skills. With experience in the non-profit sector, people are more encouraged to seek employment and are more likely to get the jobs they want.

·       The Unemployed: Volunteer while looking for work to strengthen interpersonal skills, build your resume and gain experience working with different organizations. To find volunteer opportunities in your area visit Serve.gov or apply to our Connect for Good Program.

·       The Employers (Non-Profits): Recruiting should be ideally reserved for those who will benefit the most from volunteering– out of work individuals, specifically those who hold only a high school degree or who live in unpopulated rural areas. To connect with volunteers, join our Connect for Good program as a partner.

Volunteering has also proven to increase individual confidence and awareness; civic participation in turn increases trust in other people. This year, the CNCS report showed that innovations in business and economies were directly related to trustworthy employees. And so investments (financial, time) and community promotions grew exponentially because of the engagement in community programs. Recruitment in civic organizations will most definitely serve two purposeful outcomes: numerous improvements to communities and improved employment outcomes for its members.

The economic stability and social longevity of our communities are a direct result of their civic involvement—these are the answers to a thriving, profitable and cohesive future. 

Daniella Levine, the Catalyst

By Kyle Swenson Thursday, Nov 28 2013    

                                                                                                                                                                                                                                                                
Daniella Levine has a joke for you. It's a zinger, but it also nicely packages the philosophy that powers her life's work.

"How many social workers does it take to change a light bulb?"

How many?

  
"It doesn't matter how many," she says. "The light bulb has to really want to change."

Since throwing open the doors to Catalyst Miami (then known as the Human Services Coalition) in 1996, Levine has tried to kindle that will to change.

Today, the 30-employee nonprofit offers a smorgasbord of services in areas such as financial assistance — from how-tos on taxes and home ownership to health care. It's a one-stop shop for people looking to pull up to the middle class, or just hang in there.

But what separates Catalyst's founder, president, and CEO's effort from other members of the "helping professions" is that she aims to get her clients to a point where they don't need her anymore. Levine doesn't tiptoe around the sad truth of charitable impulses: Too often, an uncharitable power dynamic exists between the helper and the helped.

"People in the helping professions often are themselves disempowered," Levine says matter-of-factly.
"Very often, their self worth is based on their ability to take charge of someone else's life and make that person dependent."

According to her, the key is to remind her clients about their own self-sufficiency.

Part of Levine's effectiveness as a community organ­izer is anchored in her past. Born in New York City, she comes from a family that always stressed giving back and working for a more just society. "I was blessed with a happy home life. I never suffered for anything. My family believed in me. So that makes you more confident about being able to make a difference."

Levine received her bachelor's degree in psychology from Yale and a law degree and graduate degree in social work from Columbia. Before starting Catalyst, she was in the trenches with local aid organizations such as Legal Services of Greater Miami and the Department of Children and Families. But only by striking out on her own was she able to throw everything into the blender — her background, her degrees, and her mantra of self-empowerment.

"Catalyst is an emanation of my soul," she says. "And I believe in pulling people in the right direction instead of pushing them."