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Strengthening the economy and building
tomorrows workforce by developing the social,
personal, and financial assets of New Mexicos
children, families and communities.
New Mexico Assets Consortium Sharon Henderson,
presenter
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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona
New Mexico Assets Consortium
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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona
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Community-Based Organization Point of Contact
(IDA Applications) Tax Help New Mexico Site
Location (additional remote services are
available through several locations) Financial
Institution Partners
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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona

• Why? What? Why That?
• (Part 1 External Influencing Goals)
• ?Build Network Secure Funding
• Educate community-based leaders,
• Educate policy makers,
• Educate private enterprise.

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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona

• Late 2004 ? Set out to measure the economic
  impact of IDA asset purchases on the community at
  large.
• Created partnership with a local university
  research institute.
• Reached philosophical stalemate.
• Developed our own community economic impact
  projections.

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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona
2 million request
723 Accounts (30 saving a smaller amount)
Business (35) 253 accounts
Homeownership (40) 289 accounts
Education (25) 181 accounts
Personal savings 779,683
NM State match 1,394,517 New Deposits
Non-State match 1,394,517 3,568,718
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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona
Return on Investment (ROI) Assumptions of
State-funded IDA Initiative
0f the 253 businesses 51 (20) Will hire 2 new employees (152) Total new Jobs 405 (253 152)
The average mortgage of the 289 new homeowners Will be financed at 75,000. Total new mortgage financing 21,690,000
The 181 Savings Partners who move through post-grad education Will increase their earning potential by an average of 41... Or from 7.00 per hour to 12.00 per hour (increase of 10,600/year) Total new earnings potential 1,915,950
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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona
Communications Piece to New Mexico Legislature
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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona

• Why? What? Why That?
• (Part 2 Internal Learning Goals)
• Examine the
• personal,
• social, and
• economic outcomes of asset building for low- and
  moderate-income individuals.
• One Objective to increase the opportunity for
  broad partner
• participation private, community based,
  governmental.
• Room under the tent

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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona

• WHAT IS IT?
• Comparative Study of Outcomes for IDA
  Participants in Arkansas and New Mexico
• Researchers Dr. Kameri Christy-McMullin is the
  lead researcher at the University of Arkansas.
  Dr. Yvette Murphy is the Co-Investigator, also
  from the University of Arkansas. Dr. Marcia
  Shobe, from UNC Charlotte in North Carolina,
  serves as a consultant on the research team.
• Financial backing The Ford Foundation

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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona

• WHY IS IT?
• Goal to examine the relationships between
  various indicators of well-being, with human and
  financial capital.
• Evaluate differences between
• Those who complete an IDA savings plan
• Those who do not complete an IDA savings plan
• Those who have never participated in an IDA
  saving plan

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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona

• How do we measure well-being?
• General demographic information
• Questions re current health (physical mental)
• Questions re self-beliefs
• Questions re economic strains on the family
• Questions re social network and support
• Questions re interpersonal family relationships

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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona

• Why is this important to us?
• Personal assets how does provision of knowledge
  (e.g. financial management training, credit
  counseling, etc.) impact a persons ability to
  leverage a higher quality of life?

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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona

• Why is this important to us?
• Social assets how does increasing personal
  networks (e.g. removing elements of isolation)
  impact a persons ability to leverage a higher
  quality of life?

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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona

• Why is this important to us?
• Financial assets how does provision of access
  to wealth building tools (e.g. IDAs, business
  training, etc.) impact a persons ability to
  leverage a higher quality of life?

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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona

• What do we do with the information?
• We match practice with evaluation findings.
• Currently we look for every opportunity to
  eliminate the class lines between our Savings
  Partners and the community at large.
• Integrated financial management education
• Local trainers increased networks.
• Community wide classes increased networks.
• Inclusion of community-partners increased
  networks.

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2006 Assets Learning Conference A Lifetime of
Assets Building Families, Communities
Economies September 19-21, 2660, Phoenix, Arizona

• Thank you for your participation in this
  presentation.
• Contact
• Sharon Henderson
• New Mexico Assets ConsortiumPO Box 7596,
  Albuquerque NM 87194P. 505-349-4308 / F.
  505-349-4307sharon_at_communityactionnewmexico.org