OCTOBER 2007Dear IDA Insights Readers:
Over the last quarter, we have seen wonderful examples of the power of partnerships in our region. Organizations partnering with the Federal Reserve Bank on wealth building events and IDA programs partnering with CFED in the release of the 2007 Asset and Opportunity Scorecard are only two examples of the progress occurring in our region as we continue to expand IDAs and wealth building in Arkansas, Louisiana and Mississippi.
To learn more about IDA programs, please contact one of the following organizations based on your location:Louisiana — Center for Social Research at Southern University
Mississippi — Mississippi IDA Program
Arkansas — Southern Good Faith Fund
Texas — Covenant Capital
We would like to thank all who participated in our five-year evaluation of the Mid South IDA Initiative. We look forward to publishing the document and sharing it with the region in January 2008.Sincerely,
Mid South IDA Initiative Staff_____________________________________________________________
IDA POLICY UPDATE
Policy Resource
If you haven’t received your copy of the CFED 2007-2008 Assets and Opportunity Scorecard or navigated the website, www.cfed.org, you are missing a phenomenal resource. On September 12, CFED released the 2007-08 Assets and Opportunity Scorecard, a comprehensive tool available to measure how well the 50 states and the District of Columbia help residents build and protect assets. This edition of the Scorecard includes new quantitative measures, including new data on personal debt and asset poverty, and detailed information on 12 core policies that form a state policy agenda. For more information on the Scorecard findings and policies, as well as downloadable data, customizable issue briefs, and additional tools for advocates, visit the Scorecard website. Our region’s grades (Arkansas “F”, Louisiana “F” and Mississippi “D”) show that we have much work to do. I strongly encourage you to visit the website and use its findings in your workCFED has also announced a Call for Sessions for the 2008 Assets Learning Conference: Advancing America’s Assets Agenda, which will take place September 11-13, 2008 in Washington, DC. They have invited the submission of suggestions for session topics and speakers that will advance the Conference theme, goals and tracks. Information on the Conference and guidance on how to submit session proposals is available at www.assetsconference.org . The deadline for submission is today! I look forward to seeing several speakers from our region on the Conference agenda next year. It’s time to let your light shine!
Bill Introduced in Congress to Allow Car Purchase for AFI Program
On September 19, Rep. Gwen Moore (D-WI) introduced legislation that would add cars as an acceptable asset purchase for AFI-funded IDAs. H.R. 3599, the Creating Access to Rides (CAR) Act, would establish a 5-year, $50 million grant program through which states, localities, and nonprofits could apply for funding to strengthen existing low-income car ownership programs or create new ones. The CAR Act would also facilitate car ownership through the use of the Assets for Independence (AFI) IDA program. This bill would expand permissible IDA uses under AFIA matching rules to include the purchase of a car._____________________________________________________________
OTHER NEWS
Jackson Asset Building Coalition
Congratulations to the Jackson Asset Building Coalition in conjunction with the IRS in providing free income tax preparation and assistance for over 1,000 low to moderate income individuals and families last year. The Volunteer Income Tax Assistance (VITA) sites will open January 12 for the new tax season with more than ten sites. They are committed to providing a valuable service to the Jackson, MS community and bringing the wealth home. For more information on this coalition and their services during tax season please call 211 or 601.360.0450.
We would love to hear about and share your organization’s activities to increase the number of VITA sites and EITC dollars in your community.
_____________________________________________________________
If you have any ideas for future IDA Insights issues, would like to feature news from your IDA program, or just want to say hello please contact Necole S. Irvin at 601.863.0495 or at nirvin@fndmidsouth.org
Sincerely,
Mid South IDA Initiative Staff
