1. Session by the Assets Alliance www.AssetsAlliance.org
“Strengthening the economy and building tomorrow’s workforce by developing the social, personal, and financial assets of New Mexico’s children, families and communities.”
New Mexico Assets Consortium
Sharon Henderson, presenter
Session by the Assets Alliance

2. New Mexico Assets Consortium
2006 Assets Learning Conference
A Lifetime of Assets: Building Families, Communities & Economies
September 19-21, 2660, Phoenix, Arizona
New Mexico Assets Consortium
Session by the Assets Alliance

3. Session by the Assets Alliance www.AssetsAlliance.org
2006 Assets Learning Conference
A Lifetime of Assets: Building Families, Communities & Economies
September 19-21, 2660, Phoenix, Arizona 
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  
Session by the Assets Alliance

4. Session by the Assets Alliance www.AssetsAlliance.org
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.
Session by the Assets Alliance

5. Session by the Assets Alliance www.AssetsAlliance.org
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.
Session by the Assets Alliance

6. Session by the Assets Alliance www.AssetsAlliance.org
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
$3,568,718
Session by the Assets Alliance

7. Session by the Assets Alliance www.AssetsAlliance.org
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 ( )
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
Session by the Assets Alliance

8. Communications Piece to New Mexico Legislature
2006 Assets Learning Conference
A Lifetime of Assets: Building Families, Communities & Economies
September 19-21, 2660, Phoenix, Arizona
Communications Piece to New Mexico Legislature
Session by the Assets Alliance

9. Session by the Assets Alliance www.AssetsAlliance.org
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”
Session by the Assets Alliance

10. Session by the Assets Alliance www.AssetsAlliance.org
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
Session by the Assets Alliance

11. Session by the Assets Alliance www.AssetsAlliance.org
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
Session by the Assets Alliance

12. Session by the Assets Alliance www.AssetsAlliance.org
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
Session by the Assets Alliance

13. Session by the Assets Alliance www.AssetsAlliance.org
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 person’s ability to leverage a higher quality of life?
Session by the Assets Alliance

14. Session by the Assets Alliance www.AssetsAlliance.org
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 person’s ability to leverage a higher quality of life?
Session by the Assets Alliance

15. Session by the Assets Alliance www.AssetsAlliance.org
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 person’s ability to leverage a higher quality of life?
Session by the Assets Alliance

16. Session by the Assets Alliance www.AssetsAlliance.org
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.
Session by the Assets Alliance

17. Thank you for your participation in this presentation.
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 Consortium PO Box 7596, Albuquerque NM P / F
Session by the Assets Alliance