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Tony Banegas, MPA Arizona Community Foundation Sept. 23, 2010

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

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Tony Banegas, MPA Arizona Community Foundation Sept. 23, 2010

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  1. Tony Banegas, MPAArizona Community Foundation Sept. 23, 2010

  2. 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

  3. Each ACF affiliate has its own community endowment • Local advisory boards bring local knowledge and expertise and make grant decisions Statewide Affiliate Network 1. Sedona 2. Flagstaff 3. Hopi 4. Page/Lake Powell 5. Yavapai County 6. Yuma 7. Tempe 8. Cochise 9. Patagonia Reg. 10. Bisbee

  4. ACF’s Arizona Family Economic Success Initiative

  5. 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

  6. Funding Partners Arizona Community Foundation Annie E. Casey Foundation JP Morgan Chase Meridian Bank

  7. 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)

  8. Earned Income Tax Credit Tax Returns Totals Total 2008: 4,408 returns, $2,901,289 Total 2009: 4,496 returns, $3,214,308

  9. 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

  10. 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

  11. Individual Development Accounts 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.

  12. Individual Development Accounts Purchased to Date

  13. 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.

  14. 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.

  15. Real IDAs Success Stories – Example 3 › “Sam” is a refugee who wanted to start a small store. › He usedhis 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.

  16. Thank you. Tony Banegas, MPA Program Officer 602-682-2024 tbanegas@azfoundation.org

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