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Family Economic Success: A Framework for Funder Action Helping - - PowerPoint PPT Presentation

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Family Economic Success: A Framework for Funder Action Helping ping families lies mov ove e fro rom the he marg rgins ns into o the he ma mainstream stream What is FES? F amily E conomic S uccess March 16-17, 2015 FES Focus:

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Family Economic Success: A Framework for Funder Action

Helping ping families lies mov

  • ve

e fro rom the he marg rgins ns into

  • the

he ma mainstream stream

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What is FES?

Family Economic Success

  • FES Focus: People, Place and Opportunity
  • Systematically examine the factors that

influence family economic success

  • Take a two-generation approach
  • Build communities that support families
  • Rely on principles that apply equally well in

rural, urban and suburban areas – the difference is in how place affects implementation strategies

March 16-17, 2015 Advancing Economic Success

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Children do well when their families do well. Families do better when they live in supportive communities.

FES Core Belief

March 16-17, 2015 Advancing Economic Success

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Mos

  • st

t famil ilies ies wor

  • rk ha

hard rd. . Many y stru rugg ggle le to

  • get ahe

head. ad.

  • Low wages
  • 57% of households earn less than the median living

wage (for a family of four)

  • Multiple jobs – if you can find them!
  • Many hold multiple jobs, do odd jobs or – especially in

rural areas, but increasingly in urban – do self- provisioning to make ends meet

  • 55 million working-age adults didn’t work in 2013

How Are Families Doing?

March 16-17, 2015 Advancing Economic Success

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Mos

  • st

t famil ilies ies wor

  • rk ha

hard rd. . Many y stru rugg ggle le to

  • get ahe

head. ad.

  • Environments vary
  • Some live in struggling communities
  • Some struggle in thriving communities
  • Special obstacles in rural and low-income areas
  • Limited opportunities
  • Hard to find appropriate supports
  • Easy to find predatory practices

How Are Families Doing?

March 16-17, 2015 Advancing Economic Success

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Many communities face tough transitions

  • Old economic drivers have lost their engine
  • New economic drivers are slow to develop
  • Economic gains increasingly bypass the

middle class

  • The average income for non-supervisory,

non-farm private employees has seen no real growth since 1965.

How do community struggles affect family struggles?

March 16-17, 2015 Advancing Economic Success

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Many communities face tough transitions

  • Changing spatial realities
  • The world is flat – the market is global
  • Virtual connections are required
  • Regional connections are critical –

especially in rural America

  • Stressed communities (economically, socially)

+ stressed families => heightened vulnerability

How do community struggles affect family struggles?

March 16-17, 2015 Advancing Economic Success

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  • More than 22%, 16 million, of America's

children lived in poverty in 2013

  • Up 5 points since 2000
  • 23% more lived in working poor families

(at 100-200% of poverty)

  • That means nearly half of all kids (32.3 million)

live in families that struggle to get by, let alone get ahead.

How Are Kids Doing?

March 16-17, 2015 Advancing Economic Success

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What would Family Economic Success look like?

Families getting by and getting ahead today Building strong financial futures for tomorrow Contributing to and buoyed by thriving communities

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The FES Framework

13 Family-Focused Results Required to Advance Family Economic Success

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What does it take to increase Family Economic Success?

  • Ear

Earn It n It – Increase earnings and income

  • Keep It

eep It – Stabilize financial lives

  • Gr

Grow It w It – Acquire assets and build wealth in thriving communities

March 16-17, 2015 Advancing Economic Success

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The whole is greater than the sum of the parts

  • Quilted together
  • Families at the center
  • Intentional, targeted & sustained

March 16-17, 2015 Advancing Economic Success

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Earn It Make work work. Make work pay.

Confident, predictable, sufficient earnings and income.

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Earn It: Desired Results

  • 1. Qualify for a job
  • Readiness to earn. Skills match jobs.
  • 2. Establish pipelines to a job – or to creating your own!
  • System and people links to available jobs.
  • 3. Land and keep a job
  • Work infrastructure: transportation, dependent care.
  • 4. Advance in job quality and a career
  • Access to new skills and credentials
  • Ladders to better paying jobs
  • Jobs with benefits.

March 16-17, 2015 Advancing Economic Success

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Some Earn-It It Examples Today

  • Qualify for a Job
  • CREATE CF’s Free Community College
  • Pipelines and Pathways
  • PACF’s Civic Leadership Fellows
  • GNOF’s New Orleans Works
  • Child Care for workers
  • West Central Initiative’s regional child care effort
  • Business Start-Up, Retention, Transition, Expansion
  • CU’s Keep It Local

March 16-17, 2015 Advancing Economic Success

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Keep It

Lower “the high cost of being poor” Avoid “money traps” Tap all available and earned benefits

Financial stability Families get by and begin to get ahead

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Keep It: Desired Results

  • 1. Build financial capability and health
  • Set goals and budgets
  • Reduce debt and repair credit.
  • 2. Establish financial footings
  • Get banked.
  • Avoid predators.
  • 3. Protect income / Decrease costs
  • Make good purchasing choices.
  • Options are available for fairly priced goods.
  • 4. Close the gap
  • Access all benefits and tax incentives.

March 16-17, 2015 Advancing Economic Success

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Some Keep-It It Examples Today

  • EITC Campaigns and VITA Sites
  • Barry County CF’s VITA site – and spin off
  • West Central Initiative’s regionwide EITC effort
  • Getting Banked, Avoiding Predatory Loans and

Improving Credit

  • United Way of Chittenden County’s Working Bridges:

business collaborative to help employees

March 16-17, 2015 Advancing Economic Success

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Grow It Help families help themselves

Double Bottom Line for Communities and Families

Families get ahead. Communities thrive.

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Grow It: Desired Results

  • 1. Build an emergency cushion
  • At least three months of standard family expenses
  • 2. Save regularly towards goals
  • Consistent and increased savings habit
  • Save for retirement
  • 3. Accumulate family assets
  • Purchase assets: homes, businesses, autos
  • 4. Leverage toward future assets
  • Finance for entrepreneurship and family education
  • 5. Increase value of family assets in the community
  • Maintain/improve homes and property
  • Participate in community!

March 16-17, 2015 Advancing Economic Success

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Some Grow-It It Examples Today

  • Matched Savings Accounts
  • Barry County CF’s Children’s Savings Accounts
  • Arizona CF’s IDAs
  • Affordable Workforce Housing
  • Rochester Area CF’s First Homes
  • Children’s Education
  • Boulder’s El Paso Program
  • Napa Valley CF One Napa Valley citizenship initiative

March 16-17, 2015 Advancing Economic Success

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Two Big Obstacles for CF success with FES CF Readiness Siloed approaches: The way we have tended to

  • rganize and fund things!

March 16-17, 2015 Advancing Economic Success

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CF Readiness

 Understand your region’s primary economic drivers and trends  Understand the specific conditions and challenges of your targeted low-income families  Understand what the community infrastructure “system” provides – and does not – in relation to those specific challenges  Have a clear commitment to flex and sustain your foundation tools to address the gaps

March 16-17, 2015 Advancing Economic Success

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The Traditional “Siloed” Approach

  • Build or fund separate and distinct programs to

address each E-K-G challenge or need

  • Fix what’s “broken” today (symptoms)…move

from crisis to crisis…

  • Regard for the long-term, but little to address it

March 16-17, 2015 Advancing Economic Success

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Instead Quilt It

Stitch things together to help families thrive!

Wrap families in a “quilt” of supports so they move up and out of poverty – and build assets to keep from sliding back!

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Quilt It: Desired Result

Quilt It Quilt It

Organize the pieces into a pattern

  • Use FES Goals to guide your planning!

Stitch the pieces together

  • Break down program silos
  • Create synergies between efforts – by addressing

more than one E-K-G result with families at the same time

Create a protective quilt to nurture families

  • Focus an array of supports on specific families
  • Sustain the supports until the family thrives

March 16-17, 2015 Advancing Economic Success

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Quilt-It It Examples

Listen to today’s stories for quilting examples – where does aprogram or initiative improve more than one FES result for the target families at a time? And think about how one or two more FES “results” might be quilted in….

March 16-17, 2015 Advancing Economic Success

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Eight Philanthropic Strategies

  • 1. Convene and educate about FES
  • 2. Benchmark FES Status
  • 3. Examine systems / determine gaps
  • 4. Coordinate / support FES planning
  • 5. Support the “Quilting” coordination
  • 6. Fill specific gaps that “stitch” the quilt
  • 7. Measure outcomes / adapt strategies
  • 8. Identify and celebrate successes

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March 16-17, 2015 Advancing Economic Success

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… a few FES Resources

  • AECF – Lots of FES resources & materials

aecf.org - search FES and RuFES

  • RuFES – an FES Network and framework with a rural spin

rufes.org

  • CFED – Individual and Family asset development resources

cfed.org

  • AssetPlatform – FES resources for service providers

assetplatform.org

  • NCTC – EITC and tax help resources

www.tax-coalition.org

March 16-17, 2015 Advancing Economic Success