Building Your CSA Design Team June 22, 2016 @CFED /CFEDNews - - PowerPoint PPT Presentation

/CFEDNews @CFED cfed.org/blog/inclusiveeconomy

Building Your CSA Design Team

June 22, 2016

• Trouble dialing in?

Just listen through your computer with speakers or headphones!

CFED (Corporation for Enterprise Development) empowers individuals and families to build and preserve assets by advancing policies and strategies that help them go to college, buy a home, start a business, and save for now and for the future.

Identify Good Ideas: CFED’s research finds ideas with potential for making the economy work for everyone, particularly those on the margins. Develop Partnerships: CFED works in partnership with diverse organizations across the country to promote lasting change. Bring Them to Scale: CFED brings together community practice, public policy and private markets to achieve the greatest economic impact.

We combine the vision of a think tank with real-world experience to:

savingsforkids.org

Amber Wade Program Manager East Durham Children’s Initiative Mattie Sue Stevens Management Analyst City of Durham Amanda Feinstein Project Director, College Savings Initiatives City of Oakland

Durham Kids Save Program Durham, NC

Building Our CSA Design Team

• Currently piloted at one elementary school
• Program began in January 2016
• First cohort FY 16 ~ 77 kindergarten students
• Second cohort will begin in August with incoming

kindergarten class

• Auto-enrollment
• $100 seed deposit
• Deposits made at school and at community partner
• Matching 1:1 up to $100 each year
• Intended to be used for educational purposes
• Eventual plan to rollout to other schools in Durham

Program Details

Long-Term Goals

Increase college savings and affordability. Develop savings habits in children and parents. Children develop a successful college/career- bound identity.

Durham’s Challenge

March 2015

• Mayor Bill Bell issues a challenge to city and

community leaders, non-profit organizations, and Durham residents to engage them on developing a plan to eliminate poverty in Durham.

• Committees chaired by city and community

leaders on education, finance, health, jobs, public safety formed.

• Census tract 10.01 is chosen as the initial focus of

this initiative.

City did not have funding set aside to support some of the specific strategies suggested by committees

• f the Mayor’s PRI.

City turned to already established, reputable non- profits and community

• rganizations* to focus more of

their current efforts on census tract 10.01 in Durham.

In-Kind Support

Program Roles & Operations

Program Partners

East Durham Children’s Initiative (EDCI) - Community partner providing program management and of the savings program as well as family engagement

• pportunities. *Already working with families and

schools in target area of PRI. City of Durham - Facilitating connections among community partners and resources. Corporation for Enterprise Development (CFED) - Providing technical assistance as well as the crowd funding platform to raise individual donations to support the savings account program. Durham Public Schools (DPS) - Enrollment partner and provider of deposit site. Self-Help Credit Union (SHCU) - Custodian of childhood savings accounts. *History of promoting equitable- lending practices, access to financial products, and community-building.

EDCI

City of Durham DPS SHCU CFED

Implementation Timeline

April 2015

• Finance Committee of Mayor’s Poverty Reduction Initiative (PRI)

convenes to develop strategies to build wealth—including a children’s savings program.

• Committee chair gauges interest of potential partner organizations in

joining as a partner in Durham’s children’s savings program.

early May 2015

• East Durham Children’s Initiative (EDCI) is chosen as the community

partner to manage day-to-day operations and parent engagement in the program.

• Self-Help Credit Union (SHCU) is chosen as account custodian.

May 2015

• Program Manager from EDCI is selected to administer day-to-day
• perations of the program

Implementation Timeline, cont.

May – December 2015

• Planning committee holds monthly meetings to advance project

activities prior to program kickoff.

• November - Giving Tuesday fundraising plan created to raise first seed

deposits.

January 2016

• Durham Kids Save Program begins with 1st cohort of kindergarteners

at YE Smith Elementary School.

June 2016

• First year of savings program ends.

Relationship with Partners

• Reputable partners with long-

standing community relationships

• Decision-makers and influencers

engaged at the table

• During planning phase monthly

meetings with clear agendas and action items

• MOUs (account custodian,

deposit sites, enrollment partners)

• After rollout, small partner

meetings based on topics/issues

• Over communication about

project activities (emails, newsletters, photos, etc.)

.

• Did not have the right

level of representation from the school district during planning

• Limited data-sharing from

school district

• Heavy reliance on the

school so competing priorities for school staff’s attention (testing, end-of- year work, other partnerships that consume their attention)

• Most implementation

work falls to one agency

DKS First Year Outcomes

$1,000 saved by students and parents. 84% of participants are saving. All partners are still engaged and on board for next year. We have received a grant from the city to cover additional program activities in the second year of the program.

For more information on Durham Kids Save, contact:

Amber Wade, Program Manager, East Durham Children’s Initiative amber.wade@edci.org Mattie Sue Stevens, Management Analyst, City of Durham mattie.stevens@durhamnc.gov

Every Baby is A Brilliant Baby

Goals: Improve early childhood development; College expectation; Family economic wellbeing $500 CSA for babies in economically vulnerable families; Financial coaching and savings incentives for parents Three-year demonstration project with up to 1,500 babies Formal evaluation

Kindergarten to College

Goals: High academic expectations for ALL students; A college going culture; Build savings for college expenses w/ 50% of families saving by year four $100 CSA for kindergarteners; Savings incentives; School- based activities & parent engagement Pilot in 16 schools (1,500 kids) in 2016-17; Expand to all 55 elementary schools (4,800 kids/yr.)

City of Oakland owns omnibus 529 CSA acct (contract with financial institution) Legal & data sharing agreements with implementing partners Contract with technology partner for infrastructure to:

• Allocate units of omnibus acct to kids
• Facilitate parents opening and linking their own

529

• Develop website and app
• Quarterly paper statements
• Management reports

BRILLIANT BABY K2 COLLEGE

COLLEGE SAVINGS ACCOUNTS INFRASTRUCTURE

Mayor’s Office ~ Oakland Unified School District ~ Treasurer’s Office

BRILLIANT BABY

Implementing Partners: Infant Home Visiting Programs (Public Health, Children’s Hospital, Early Head Start, CBOs) EARN, Sage Financial Solutions Strategy Partners: CFED, Alameda County First Five, evaluators (TBD), funders Champions: 15+ groups/Planning Comm.

KINDERGARTEN TO COLLEGE

Implementing Partners: OUSD, City of Oakland MOU with each implementing school (principal, teacher, parent liaison) Strategy Partners: CFED, Parent Voices, EBALDC, funders, etc. Champions: Multiple educational programs

COLLEGE SAVINGS ACCOUNTS PARTNERS

Mayor’s Office ~ Oakland Unified School District ~ Treasurer’s Office

OAKLAND PROMISE ADVISORY COMMITTEE 35 public, philanthropic, businesses + community leaders OAKLAND PROMISE STEERING COMMITTEE Mayor’s Office Oakland Unified School District City Council East Bay College Fund Oakland Public Education Fund

BRILLIANT BABY Project Director (Mayor’s Office) EVALUATION ADVISORY Mayor’s Office Alameda County Dept. of Public Health Oakland Human Services UCSF Benioff Children’s Hospital Alameda County First Five PLANNING COMMITTEE 25 Implementing Partners & Organizational Champions COLLEGE SAVINGS ACCOUNTS (Oakland Treasurer) LEADERSHIP TEAM City Treasurer; Deputy City Administrator; City Attorney Mayor’s Office: Project Director of CSA Initiatives; Dir. of Education; Chief of Staff Oakland Unified School District: Deputy Chief Post-secondary Education Readiness; OUSD Liaison to Oakland Promise; Legal Office KINDERGARTEN TO COLLEGE OUSD Liaison to Oakland Promise LEADERSHIP TEAM Mayor’s Office: Director of Education; Project Director CSA Initiatives Oakland Unified School District: OUSD Liaison to Oakland Promise; Deputy Chief Post-secondary Education Readiness

CSA ORGANIZATIONAL CHART

mattie.stevens@durhamnc.gov

CSA Resources