CAA Executive Leadership Workshop

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					CAA Executive Leadership

 Presentation on IDA Strategies

            Colleen Dailey
  Capital Area Asset Building Corp.
            July 21, 2005

n   Discuss challenges that are common
    among IDA practitioners
n   Discuss ways to overcome these
    challenges (or at least minimize them)
n   Encourage creativity in program
    design, partnership development, and
Conventional Wisdom

n   IDAs are “cumbersome”
n   IDA programs are labor and resource-
n   IDA programs are expensive and
    difficult to operate
n   IDAs are not scaleable
n   Etc.
“Stuck in the Model”

n   Conventional wisdom often prevents
    the development of new/better
    methods of program delivery.
n   In some ways, these critiques become
    self-fulfilling. (We’re told that IDAs are
    costly and cumbersome, so we take it
    as a given and replicate the model.)
Keeping the Baby
(but not the bathwater)
n   The combination of money management
    training/counseling and financial incentives to
    encourage saving is extremely powerful, and it has
    a ripple effect (on individuals, families &
n   Economic development strategies that have
    quantifiable ($) impacts have broad appeal.
n   IDAs/asset development stands out as an
    antipoverty approach that has bipartisan appeal.
n   Though particular funding sources are restrictive,
    there are numerous ways to fund IDAs.
n   Likewise, there are countless ways to deliver IDAs.
What does it take to debunk
conventional wisdom?
n   Creativity & flexibility
n   Ability to see and develop mutually
    beneficial partnerships (across sectors)
n   Insistence on having the right tools and
    resources to manage effectively
n   Ability to set priorities and evaluate
n   Commitment to evaluation and continuous
n   Look beyond traditional funding sources
    (AFIA, private foundations)
    –   83% of charitable giving comes from
        individuals. How can you reach them?
    –   Incorporate elements that will attract CRA and
        private sector funding (e.g. retirement savings,
        investor education)
n   Look beyond traditional asset uses
    (transportation, day care, health care,
    debt reduction) to meet needs of target
n    Combining two programs to strengthen the
     performance/outcomes of each.

1.   IDAs and Habitat for Humanity in tough housing
2.   Partnering with Citibank Bank at Work program to
     reach new populations and introduce IDAs to
3.   Partnering with credit counseling agency for post-
     counseling referrals (to get clients who have paid
     down debt and are in a better position to save.)
Getting the Necessary
Tools & Resources
n   Staff
n   Training
n   Data management software
n   Online banking access
n   Marketing materials (for IDA
    recruitment and fundraising)
Setting Priorities &
Evaluating Tradeoffs
n   Do you have a demographic or geographic
n   Are all asset goals equivalent?
n   What are your numerical targets? How can you
    achieve them?
n   Does your target population fit within eligibility
    guidelines for various funding sources?
n   Do your priorities match your funders’
n   Are there city or state initiatives that you can
    link up with?
Commitment to Evaluation
& Continuous Improvement
n   What’s working? What’s not? Can you
    achieve similar results with fewer or less
    costly inputs?
n   Create a formal process for evaluating
    partnerships and outcomes (at least
n   Be aware of changes in the environment;
    look for liabilities and new opportunities.
n   Be honest with your funders; don’t commit
    to unrealistic goals.
  Be a Change Agent!

If you believe in the effectiveness of
 IDAs, don’t let conventional wisdom
    hold you back. If your current
     program model isn’t working,
         change the model.
Contact Information

Colleen Dailey
Executive Director
Capital Area Asset Building Corp.
1801 K St. NW, Suite M-100
Washington, DC 20006
Tel. (202) 419-1440

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