tony banegas, mpa arizona community foundation sept. 23, 2010
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Tony Banegas, MPA Arizona Community Foundation Sept. 23, 2010. ACF Quick Facts. Founded in 1978 About $471 million in assets held in nearly 1,000 component funds $36.9 million grants/scholarships awarded in FY 2010 More than $349 million distributed since 1978 - PowerPoint PPT PresentationTRANSCRIPT
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Tony Banegas, MPAArizona Community
FoundationSept. 23, 2010
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ACF Quick Facts• Founded in 1978
• About $471 million in assets held in nearly 1,000 component funds
• $36.9 million grants/scholarships awarded in FY 2010
• More than $349 million distributed since 1978
• 30-member board of directors; 50 staff statewide
• 10 affiliate community foundations across Arizona
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Statewide Affiliate Network• Each ACF affiliate
has its own community endowment
• Local advisory boards bring local knowledge and expertise and make grant decisions
1. Sedona2. Flagstaff3. Hopi4. Page/Lake Powell5. Yavapai County6. Yuma7. Tempe 8. Cochise9. Patagonia Reg.10. Bisbee
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ACF’s Arizona Family
Economic Success Initiative
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This project fund was established in 2003 as a community investment program focused on rural settings.
The program began in the border region, through emerging partnerships with interested banks, grassroots advocates, faith-based groups, local community development organizations and state agencies.
SM
Arizona Family Economic Success
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Funding Partners
• Arizona Community FoundationArizona Community Foundation
• Annie E. Casey FoundationAnnie E. Casey Foundation
• JP Morgan ChaseJP Morgan Chase
• Meridian BankMeridian Bank
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Service Provider Partners
• Mesa Can (Mesa)
• Tempe Community Council (Tempe)
• Catholic Community Services of Southern Arizona
(Tucson, Douglas, Sierra Vista, Ajo)
• Nogales Community Development Corporation (Nogales)
• Goodwill (Yuma)
• San Luis Community Center (San Luis)
• United Way of Tucson and Southern Arizona (Tucson)
• United Way of Northern Arizona (Flagstaff)
• DNA Legal Services (Window Rock)
• Arizona State University Office of Civil Rights (Phoenix)
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Earned Income Tax Credit Tax Returns Totals
Total 2008: 4,408 returns, $2,901,289
Total 2009: 4,496 returns, $3,214,308
$0
$200,000
$400,000
$600,000
$800,000
$1,000,000
$1,200,000
2008 2009
CochisePimaSanta CruzYumaPinalGraham
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Program Growth -
EITC and Refund Totals to Date
2003: $143,519 in EITCs
$235,408 in Total Refunds
2009: $3,138,827 in EITCs
$6,850,539 in Total Refunds
Total to Date:$11,891,554 in EITCs
$23,143,058 in Total Refunds
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Services Offered at the Sites
Each site provides a variety of programs, including: Tax Prep Benefits Screening SCH C Prep Prior Year Return Tax Clinic Bank Accounts IDA Accounts Down-payment Assistance Foreclosure Assistance Financial Education Resource Referral Microbusiness
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Individual Development Accounts or IDAs, are dedicated savings accounts, targeted specifically to working poor families.
IDAs provide an incentive to work, save and build assets as a means to reach economic self-sufficiency.
Individual Development Accounts
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Individual Development Accounts
Purchased to Date
IDAs by County
COUNTY # of IDAs
Pima 64Santa Cruz 14Cochise 9Yuma 39
Total 126
IDAs by Purpose
PURPOSE # of IDAs
MATCHED FUNDS
Small Business
26 $62,950
Education 20 $65,144
Homebuyer 80 $234,381Total 126 $457,703
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Real IDAs Success Stories – Example 1
› “Paulina” used her IDA to open a Web site design business, which she operates from home.
› Has since developed and maintained sites for schools, businesses and government agencies.
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Real IDAs Success Stories – Example 2
› “Steve” opened a coffee shop/deli where customers gather to eat, use the internet, and mingle.
› He used his IDA funds to buy an industrial meat slicer and a deep freezer to store the meat.
› Storing his own meat saves him $200/month vs. buying pre-packaged food.
› Now in 2nd year and strong.
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Real IDAs Success Stories – Example 3
› “Sam” is a refugee who wanted to start a small store.
› He used his IDA funds to purchase African produce and hair products to sell.
› He began the business out of his home and then opened a booth at a local swap meet.
› Today, he’s going strong and plans to lease a store front soon.