Category: Updates

The Trump Administration ended DACA on September 5, 2017, igniting a wave of anguish and fear in immigrant communities throughout the country. Since President Obama initiated DACA in 2012, hundreds of thousands of young people came out of the shadows to register for the program hoping that that would be the first step to becoming full participants in the U.S., the country many know as their only home. That hope ended with Trump’s announcement, forcing them back into the shadows, crushing dreams and opportunities to flourish into their full and true selves.

The political back-step inflicted mental torture on Dreamers, making them feel like pawns in a political game with no end in sight. Despite the dark cloud of uncertainty in their lives, young immigrants are fighting back. They are organizing the social justice movement of our generation, advocating for a DREAM Act that would give young immigrants a path to citizenship, and pushing for comprehensive immigration reforms that could help millions of undocumented immigrants as well.

Whether or not Congress passes these reforms in the weeks or months to come, Dreamers are making their mark on America’s collective consciousness.

What follows is the story of MAF’s campaign to fund DACA renewal applications: how we did it, what we learned, and how the experience is influencing our work moving forward. In a matter of days Mission Asset Fund (MAF) – with only 20 staff members working in one office in San Francisco – launched one of the nation’s most successful DACA campaigns in 3 days, funding almost seven percent of the nation’s DACA renewal applications submitted to the Department of Homeland Security between September 5 and October 5, 2017.

Ending DACA was Trump’s warning shot in his war against immigrants. This campaign was us fighting back.

A Small Window to Act

I was boarding a flight to Los Angeles at the crack of dawn when the Trump Administration announced that it was ending “Deferred Action for Childhood Arrivals (DACA),” a program that provides young, undocumented immigrants brought to the United States as children – commonly referred to as “Dreamers” – with protection from deportation and work permits. Scrolling through the headlines on my phone, I knew it would be a rough day. Not only was the Administration ending DACA, but it was doing so in a ridiculously cruel way. The announcement ended DACA for new applicants – many of whom were high school students who dreamed of pursuing higher education using DACA – while giving those already with DACA just one month to submit applications to renew their status if their work authorization ended by March 5, 2018. This meant that 154,000 Dreamers could extend their protective status for two more years. Dreamers were left to learn about the announcement on their own and determine whether or not they qualified. The Trump Administration did nothing to notify these Dreamers of their eligibility.

They didn’t send any letters; they didn’t make any phone calls; and they didn’t do any outreach to encourage Dreamers to submit renewal applications.

Immigrant communities and advocates were outraged by the announcement. Protests erupted in cities across the country. People were angry, and rightly so. Our government was breaking a promise made by President Obama that had radically improved the lives of the 800,000 young immigrants enrolled in the program. The deal struck under Obama was this: For years Congress had both acknowledged the need to reform America’s broken immigration system, but failed to do so, leaving millions of immigrants unable to come out of the shadows. DACA was a small, temporary solution for young people as we waited for Congress to fix our broken system.

In 2012, President Obama gave the executive order to establish DACA, under which the federal government promised not to deport immigrants who were brought to the U.S. before their 16th birthday, were enrolled in school, had graduated from high school, or were honorably discharged veteran of the Coast Guard or Armed Forces of the U.S. Instead, the government would grant them permission to work and provide them with Social Security numbers. In return, Dreamers would register with the Department of Homeland Security and provide them with all of their personal information. Like the 800,000 Dreamers who registered for DACA, at MAF, we too believed in that promise—that they could live openly in the light of day.

On the day President Obama created DACA, MAF began providing zero-interest loans to help families pay the application fee (now $495).

During the five years that DACA was available, we financed the filing fees of more than 1,000 Dreamers who applied for or renewed their DACA status. We witnessed the benefits of DACA on a daily basis. With DACA, we saw first-hand that our clients were better supporting themselves and their families by accessing higher paying jobs. They opened bank accounts and began saving. By every metric, DACA propelled them forward, unleashing their creative energy and human potential. With DACA, some of our clients enrolled in school, became doctors or nurses. Others, like Gustavo, secured better-paying jobs. He stopped cleaning houses and was able to get work as a Wells Fargo bank teller serving the Latino community.

And then, just like that, it all came to a screeching halt on September 5, 2017, the day that Trump revoked the promise.

I spent the next day in Los Angeles, fielding emails and trying to think through next steps. Thursday morning, I was back in the MAF’s office where we had our first post-announcement staff meeting. We talked about our options, trying to figure out how to proceed. Doing nothing was not an option. Without knowing exactly how, on that morning we resolved to help as many Dreamers as possible to renew their status.

Because MAF has experience making loans to help Dreamers finance DACA applications, our first response was to stick with what we knew in order to move quickly. Dreamers only had four weeks to renew before the October 5 deadline, so every minute mattered. With that in mind, we agreed to offer zero-interest loans, but on a much larger scale than ever before. We were going national with these loans. This would be a huge operational challenge for us for two reasons. First, up until this point, we’d only financed DACA application fees for Dreamers in California. Second, although MAF is a national organization, we work through a network of nonprofit partners to serve clients outside of California. For the sake of efficiency, we needed to outreach to and directly serve clients all over the U.S., regardless of geography- for the first time ever.

We set a big goal to finance 1,000 applications in the next month. That was the same number of loans we had provided in the last five years combined. I began contacting funders to solicit support for our new loan fund; we needed $500,000, and fast.

While I was working the phones for funding, MAF staff members were working furiously to operationalize the new loan fund. Our communications team built a new website specifically for the DACA renewal loans, complete with a clock that tracked the number of minutes left before the window to apply for renewal closed. Our tech team streamlined our existing loan application by stripping out any information that wasn’t absolutely essential to processing the loan requests, and built a system for rapidly reviewing and confirming an applicant’s eligibility to renew at this time.

By the end of that first week, we’d secured a million dollars in commitments from the Weingart Foundation, James Irvine Foundation, Chavez Family Foundation, and Tipping Point Community. With their support, we doubled our original goal accordingly and aimed to help 2,000 DACA recipients to apply for renewal. It was an absurdly ambitious and risky goal, one that could put MAF’s finances in a potential cash-flow crisis. But we had to do it. If ever there was a time to put it all on the line, it was now.

One week after the announcement to end DACA, we were ready to launch the new loan fund. We had 21 days until the deadline.

On the morning of Tuesday, September 12, we sent a series of emails and press releases to media outlets, colleagues, funders, and immigrant rights activists. I was in New Jersey that day, preparing to deliver a keynote address later that evening, when I received a call from Fred Ali, the Chief Executive Officer of the Weingart Foundation, asking us to consider offering grants instead of loans. He argued that the urgency and gravity of the situation necessitated grants and that loans, even at zero interest, would pose a barrier to some Dreamers. I was reluctant to make the shift right after launching the campaign, but hearing his commitment to work with us made it easier to take the plunge. Thanks to Fred, a new path forward opened for us.

I quickly called MAF’s leadership team and we agreed to revise our strategy. We re-launched the campaign later that day offering $495 scholarships to DACA recipients who needed to renew. By Thursday, September 14, just two days after launching the campaign, we received more than 2,000 applications. The campaign’s website briefly crashed due to the heavy traffic. We were ecstatic at the response, but the overwhelming interest created a number of new operational challenges.

First, there was a very real possibility that we would run out of money. Part of the problem was timing.

While we had secured commitments from funders, we had not received the money in our bank account. We had to front MAF’s general operating money while funders worked through their approval and disbursement processes. Just 48 hours into the campaign, the first 2,000 applicants had already claimed all of the $1,000,000 in DACA grant funds.

I remember the conversations with my leadership team about how to proceed as some of the most nerve-racking of the entire campaign. We were literally watching the clock, counting down the hours until we would run out of money. That night, we considered shutting down the program. Very quickly, we’d met our goal of helping 2,000 Dreamers, which was already double what we’d originally planned for. But the truth was that we could not stop.

Ending DACA was a national emergency, and we refused to abandon our community in the midst of it.

We considered reverting back to zero-interest loans. But we didn’t want to do that either. It would have been extremely complicated and confusing. Instead, we changed our messaging to alleviate some pressure. We started encouraging applicants to first consider asking for support from friends or family members before requesting funds from MAF. We trusted that those who could self-select out of the process would do so, in turn reducing demand and increasing the likelihood that we would assist those most in need. We agreed that I’d work the phones to push for more funding.

Ultimately, through the course of the campaign we raised $4 million dollars, eight times more than our initial goal.

While I’d like to say that the money was a response to my exceptional fundraising skills, that wasn’t the case. Funders understood the urgency of the situation, and many of them were able to expedite their approval processes – which usually takes months – into just hours or days. Fred Ali was working the phones too; he contacted his colleagues at other foundations, vouching for us and asking that they consider supporting the campaign. And like Fred, we had so many other funders working behind the scenes, calling colleagues and allies they knew would care and could commit quickly. Many of them contributed to the renewal fund, increasing our goal to helping 6,000 Dreamers renew their DACA status.

Aside from the funding and cash flow challenges, we were now faced with a slew of major operational ones.

In theory, the process to deliver funds to applicants was simple. MAF would write a check to the Department of Homeland Security for $495, and mail it to the applicant, who would include it in their application package. But in practice, we hit wall after wall.

For starters, there was the question of how to cut so many checks so quickly. During the earliest days of the campaign, when we were receiving upwards of 800 applications a day, I was traveling for work and our Chief Operating Officer was in Chile. Because we are the only two people authorized to sign MAF checks, this created an immediate bottleneck.

Our first workaround was a signature stamp. Aparna Ananthasubramaniam, Research and Technology Director, confirmed with our bank would recognize a stamp, got me onboard with the idea with a few days, but even that was too slow.

With applications coming in by the hundreds each day; and seeing our target go from 3,000 to 4,000, and then finally to 6,000 renewals, we needed to find a better alternative.

Within a few days, we outsourced the task to a third-party processor to manage the bulk of the work, allowing us to focus on the approval process and applications that needed individual attention. This was a huge weight off of our shoulders. Just like with cutting checks, mailing them sounded straightforward but proved enormously difficult. Prior to this campaign, MAF had never primarily communicated with clients via snail mail. Consequently, we didn’t have much experience sending large volumes of mail, and didn’t realize that it is both an art and a science, until it was almost too late.

Our original plan had been to send the checks via priority mail. To do this we needed the appropriate “priority mail” envelopes, which are available for purchase at every post office. So, on that first day, Mohan Kanungo, Director of Programs & Engagement, drove to the nearest post office to buy supplies. However, there weren’t enough envelopes for the hundreds of checks we needed to mail. So, he drove to another one. And then another.

Soon, MAF staff and their loved ones were driving all over the Bay Area to raid post office supplies.

At one point, Mohan charged $2,400 worth of mailing supplies to his personal credit card. He couldn’t use a company card because he’d given it to a fellow MAF staffer who was using it to purchase supplies at other post offices. Because we were new to bulk mailings, we also didn’t know that there is a specific way you are supposed to do them. MAF staff showed up with huge boxes of envelopes, figuring we would mail them the way we would any other letter. Turns out that our method was extremely inefficient because the post office had no way to processes the envelopes in bulk. Rather, each one had to be processed individually, which took approximately 1 – 2 minutes, meaning mailing hundreds of envelopes could take hours.

No one was happy about this. The postal workers were frustrated by the massive inconvenience it caused them because they were understaffed, too. We were upset with ourselves, as well. MAF staff had to remain at the post office for hours at a time while each letter was processed. It was time we didn’t have. Soon postal workers simply began refusing to process our mailings. Staff would get rejected at one post office and drive to another in the hopes they could mail it from there. Or they’d split a large mailing into a couple of smaller ones that would be less onerous to process, and get them out that way.

It was terribly frustrating and inefficient, and, more importantly, completely unsustainable. We had to figure out something better.

Tara Robinson, Chief Development Officer, called the local office of the regional representative of the United States Postal Service, where she spoke with a woman in the business service network department. Tara asked her, “Do you know about the Dreamers?” She said, “Yes!” After explaining what MAF was doing and why there was such a time crunch, the postal worker worker jumped into action. We found our advocate. That same day, she organized a conference call with supervisors from numerous area post offices during which she instructed them to accept all of MAF’s mailings. Our postal shero explained how to create a manifest for our mail so that the postal workers could scan all of our envelopes in bulk instead of individually. She also provided the direct name and number of the Postmaster General if we ran into more problems.

Fueling our anxiety was the fact that we had promised applicants a response within 48 hours of submitting the initial application.

Initially, we thought that 48 hours was a relatively fast turnaround time. But in a time of crisis, 48 hours can feel like forever. Our office was constantly flooded with calls, emails, Facebook messages, and in-person visits, from applicants wanting to confirm that we had received their request and wanting to know when to expect the check.

Every single person on staff was answering phones and fielding inquiries – including me. We were woefully understaffed to field the volume of inquiries we were receiving, and decided we needed a more transparent and robust set of communications with our applicants. Aparna drafted a series of emails that would be automatically sent to applicants as their application worked its way through our process. One email was sent to confirm receipt of the application; another was sent to confirm that we had all of the necessary materials to review it; a third went out to confirm that it was approved; and a final email was sent confirming when to expect the check. We even created another automated email to tell applicants to expect another email soon with tracking information. It seems over the top, but these email communications considerably lowered the call volume.

While the automated communications helped to significantly reduce the volumes of calls and emails we received, we remained severely understaffed relative to the workload. We hired temporary staff but quickly realized that wasn’t going to work due to the nature of the highly sensitive information we were processing. So, we turned to our friends and colleagues, including La Cocina, and other key allies at Salesforce and Tipping Point, all of whom excused staff from work and sent them to our office to volunteer.

Despite the many challenges we had to overcome in real time, the campaign thrived.

The office of the Governor of Washington contacted us and said “We heard you were the nationwide provider of DACA scholarships. We have an anonymous donor in the state of Washington. Can you process $125,000 of scholarships for our residents?” Hundreds of organizations – both small and big – helped us to spread the word. There were videos, memes, vloggers and even a social media sweepstake sponsored by the Clever Girls Collaborative. The President of the University of California sent several press releases and social media messages to inform students about the scholarships, as did the President of the California Community Colleges. Without solicitation from our team, some funders approached us asking how they could support the initiative. Across the country, immigrant rights groups and legal aid organizations we’d never worked with before were advertising our renewal fund to their clients.

Spreading the word beyond the Bay Area was important because many of those organizations were operating in communities that lacked support for Dreamers, either because of the local political climate or because they were in rural, isolated areas, like Mississippi and Utah. We attribute a lot of our ability to reach these communities to incredible responses from both the media and social media. The campaign received more than 1,000,000 social media hits, and more than 100 media mentions, including coverage in New York Times, NPR, and Washington Post, among other prominent outlets.

Ultimately, in this three-week campaign, MAF provided $2,513,610 to fund 5,078 DACA renewal applications in 46 states, representing 6.7 percent of all renewal applications submitted between September 5 and October 5, 2017.

We funded one out of every ten Dreamers in the state of California who applied for a renewal during this time period, including 16 percent of all applicants in the Bay Area. As one Bay Area legal aid attorney told me, “Again and again and again, Dreamers walked in [to our offices to apply for a renewal] with a MAF check in hand.” Over the past several months, all of us at MAF have spent a lot of time reflecting on the campaign, thinking about what worked, what didn’t, and how the experience should shape our work moving forward. While I know each MAFista took away something personal from the experience, we share these overarching lessons:

  1. Timing is everything. Proven solutions – no matter how great – are not always the *right* solution for every situation. We launched our fund with loans because making loans is what we do, and we do it well. But given the urgency of the DACA crisis – when we didn’t have time to deal with even the most modest of underwriting processes – loans simply weren’t the right product. At the beginning, we were so steeped in our history that we couldn’t see beyond loans. It took an outsider to open the door to the possibility of scholarships. However, once that door opened, we were flexible, ready to embrace the alternative approach, and operationalize it quickly.
  2. Technology is critical to scale. Time and time again throughout our campaign, we resolved bottlenecks and scaled services with technology. We engaged applicants throughout the country by creating a secure online application through our Salesforce CRM that people could complete and submit to us within minutes. We created automated emails to keep Dreamers informed and engaged throughout the application process. We outsourced the process of cutting checks to clients by building an electronic applicant database that we emailed to our third-party processor. Without question, absent technology, we could not troubleshoot obstacles in real time, and we would have been much more constrained in our ability to reach communities outside the Bay Area.
  3. Trust is imperative to success. A huge reason we succeeded is because people trust us. Dreamers were willing to share their personal information with MAF – despite the climate of fear in which they were operating – because they knew that we were – and are – on their side. Similarly, funders, including ones that had previously never worked with us, were willing to bet big on us because they trusted their colleagues who vouched for us. Likewise, nonprofits referred their clients to us knowing that we were going to do right by them. All of this happened fast and trust was the key.
  4. Uncertainty can be your friend. As nonprofits, we plan our work over the course of years. We create theories of change, strategic plans, and budgets to demonstrate our good stewardship and fiscal management. In normal times, these tried and true practices help mark our progress towards achieving goals. I get it. But we’re not in normal times. In moments like these, no matter how perfect our plans are, the fact is that the fate of millions of families hang in the balance with the next incendiary tweet from Trump. We really don’t know the nature, or extent, of the next Trump-created crisis. This type of uncertainty necessitates a willingness and ability to take the ever-changing political climate into account, and change programmatic strategies accordingly.The campaign is a bittersweet victory.

    In terms of impact, we exceeded our wildest ambitions. We were able to stand as a beacon of love and support for the immigrant community at a time when so many of our friends, families, and clients felt under attack. Nonetheless, as an organization we have struggled to celebrate the campaign because it represents the end of DACA. We believe in an America that is so much better than this, and remain stunned and absolutely livid that the Trump Administration ended DACA without offering a permanent legislative solution, leaving millions of young immigrants and their families in anguish.

    Living with that sort of pain and anger is difficult. For all the sadness and disgust that we have felt in response to the Trump Administration’s actions, we have also discovered a deeper and more powerful resolve.

    This is a long fight and we now have at least 5,078 more people in our community who are joining the battle for social justice. While DACA may be ending, we are just getting started.

Follow our Champion Spotlight series, where we introduce you to our great Social Investors and honor their actions to support financial empowerment through credit-building.

Meet Gaby Zamudio, a bilingual developer specializing in UI and an all-around positive, people person who’s always looking for opportunities to use her tech skills to support local nonprofits. Gaby is the Co-Founder of Meraki Creative, a community for women entrepreneurs and a former developer at Thoughtworks. Since 2016, she’s been a member of MAF’s Technology Advisory Council (TAC), a group of professionals from leading Bay Area tech companies who provide leadership, advice, and counsel to help MAF use technology to best meet the financial needs of low-income consumers.

We had the opportunity to sit down with Gaby and learn more about what drives her to support MAF.

MAF: Tell us about yourself. Hobbies, interests, passions?

GZ: I’m trained as a UI developer and designer, and I love finding creative ways to display data and information. I recently had the opportunity to serve as an instructional assistant in a front-end development course at General Assembly here in San Francisco.

A fun fact that most people don’t know about me is that I played table tennis (a.k.a. ping pong) growing up, and had the chance to represent my region at competitions. Usually I was the only woman participating, which prepared me for the tech industry, where I often have a similar experience.

MAF: What issues spur you to action?

GZ: First, social justice has always been important to me. I was raised during a period of internal conflict in Peru when there were two powerful terrorist parties, so it was a dangerous time. Many people disappeared. My mom worked for a human rights organization and my dad was a sociologist and activist. My mom put so much into her work. As a child, I remember wishing I could see her more, and then opening my heart to realize that maybe other people needed my mom more than me. I felt conflicted because unlike many others, I had food and a safe place to sleep. But I so easily could have been in their position. This experience shaped my commitment to creating a more socially and economically just world.

Second, I care deeply about immigrant rights.

I moved to the U.S. from Peru by myself at age 19, so I can relate to the experience of immigrants in this country.

Finally, I’m passionate about the environment. Growing up in a mining town, I’ve seen how these industries contaminate our communities. If we don’t protect our environment, we won’t be able to make progress on other issues like social justice and education.

MAF: What made you want to get involved with MAF?

GZ: I first heard about MAF through a friend who had participated in a Lending Circle, and I immediately recognized the practice. In Peru, many people participate in panderos to save money for big purchases while being accountable to a group. I love how MAF connects the practice of saving in a group with credit-building and financial education.

When I moved to the U.S. by myself, the financial system here was completely new to me. I didn’t know what credit was.

When I started college, it was confusing to navigate the student loan process. I could have easily taken out more loans than I needed and gotten myself into a hole I couldn’t get out of. Thankfully, that didn’t happen. But my experience taught me that everyone – not just immigrants – can benefit from more information and tools to navigate the financial system.

A few years after first learning of MAF, a friend suggested I look into MAF’s new Technology Advisory Council (TAC). Nonprofits don’t usually have the same resources for tech that for-profit companies do, and I’m honored to use my technical expertise to add to MAF’s tech capacity and help create a bigger impact.

MAF: Why do you invest your time and skills in the work we do together?

GZ: For me, it’s about empowering people. At the first TAC meeting, I had the chance to meet Luis, who now owns D’maize, a Salvadoran restaurant in San Francisco. A loan from MAF enabled him and his wife to build credit scores and then access bigger loans to grow their business. They eventually hired staff from their community, and now they give back by donating catering for their son’s events.

I hope to be a granito de arena (grain of sand) supporting this amazing ripple effect.

MAF: What are you looking forward to in your work with MAF in the next few months?

GZ: I’m looking forward to supporting the development of the Lending Circles App and seeing the final version once it’s ready. I feel proud to have helped shaped the design of this one-of-a-kind app. I hope the MAF team feels just as proud! I’m also excited to reflect on what we’ve learned from this process as we move forward with more tech products.

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Financial Emergency Action Plan for Immigrants

Detention and deportation can have a huge impact on a family’s finances. What happens to a car, apartment, or money in a checking account?

MAF’s new Financial Emergency Action Plan for Immigrants is an action-oriented tool that offers concrete tips to help families plan ahead and keep their money and belongings safe in the case of an immigration emergency. Topics include:

  • Protect your money: Simple steps to keep your money safe and accessible – from setting up online accounts to automatic bill pay
  • Protect your belongings: How to take stock of your belongings, why to consider getting insurance, and how to make a plan for all your belongings
  • Prepare for an emergency: Tips to help you set a savings goal, protect your credit card or set up a crowdfunding campaign
  • Create an action plan: Each section includes checklists and templates so you’ll know exactly what to do to prepare

Upcoming events

Join us for one of our upcoming information sessions via webinar or in-person. These are great opportunities for nonprofit, foundation, or government staff to access to the guide, get trained on how to implement the content, and start sharing it with the community.

Want to request a speaker?

In the media

Thanks to our collaborators

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This post first appeared on the Aspen Institute’s blog. It was written by MAF’s CEO José A. Quiñonez in preparation for a panel on the Racial Wealth Gap at the Aspen Institute’s 2017 Summit on Inequality and Opportunity

Here’s what we know about wealth inequality in America today: It’s real, it’s huge, and it’s growing. Barring substantial policy change, it would take 228 years for black households to catch up to white households’ wealth, and 84 years for Latinxs to do the same. This matters because wealth is a safety net. Without that cushion, too many families live just one job loss, illness, or divorce away from financial ruin.

Here’s another thing we know: Contrary to popular opinion, wealth inequality between racial groups did not come about because one group of people didn’t work hard enough, or save enough, or make savvy enough investment decisions than the other.

How did it come about, then? The short answer: history. Centuries of slavery and the bitter decades of legal segregation laid the groundwork. Discriminatory laws and policies against people of color made things worse. The G.I. Bill of 1944, for example, helped white families buy homes, attend college, and accumulate wealth. People of color were largely excluded from these asset-building opportunities.

Today’s racial wealth divide is the financial legacy of our country’s long history of institutionalized racism.

The factor of time is, in some ways, foundational to these findings. Sociologistseconomists, and journalists alike all underscore how the racial wealth gap was created and exacerbated over time. But when it comes to the question of new Americans—the millions of us who have joined this nation in recent decades—time often gets glossed over in racial wealth gap conversations.

Immigrants’ creative survival strategies and rich cultural and social resources could help inform better policy interventions.

Reports generally illustrate the racial wealth gap by, understandably, placing the average wealth of different racial groups side by side and observing the gaping chasm that divides them. For example, in 2012, the average white household owned $13 in wealth for every dollar owned by black households, and $10 in wealth for every dollar owned by Latinx households. This story matters. There is no denying that. But what might we learn from investigating wealth inequality with more attention to immigration?

A report by the Pew Research Center divided the population of adults in 2012 into three cohorts: first-generation (foreign-born), second-generation (US-born with at least one immigrant parent), and third-and-higher generation (two US-born parents).

Here’s how the numbers look when broken down by race:

Clearly these racial groups have very different American stories.

The vast majority of Latinxs and Asians are new Americans. Seventy percent of Latinx adults and 93 percent of Asian adults are either first- or second-generation Americans. In contrast, a mere 11 percent of white and 14 percent of black adults are in the same generational cohorts.

By comparison, the latter groups have been in the United States for much longer. And given their relatively comparable tenure in the US, it makes sense to place their data side by side.

But comparing the wealth of Latinxs—half of whom are first-generation Americans—to that of white families, 89 percent of whom have been in the US for many generations, seems to raise more questions than it answers.

Instead, we could add nuance and context to our analysis by measuring the differences in wealth between racial groups within generational cohorts; or by comparing members of different groups who share key demographic characteristics; or even better still, by measuring the financial impact of policy interventions within specific groups.

For example, we could investigate the financial trajectories of young immigrants after they received Deferred Action for Childhood Arrivals (DACA) in 2012. Did they improve their income, build their savings, or even acquire appreciating assets, as compared with their peers?

We could go further back in time and explore what happened to the generation of immigrants who were granted amnesty under the Immigration Reform and Control Act of 1986 (IRCA). What did emergence from the shadows mean for their assets and wealth? How does their wealth compare with those who remained undocumented?

These contextual comparisons can give us space not just to quantify what’s missing from people’s lives, but also to discover what works.

Their creative survival strategies and rich cultural and social resources could help inform better policy interventions and program developments.

Bringing the story of new Americans into our conversations about wealth inequality will deepen our understanding of these disparities and the distinct forms they take for different groups. That’s what we need to develop the bold policies and innovative programs needed to narrow the stark racial wealth divide we face today.

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Citizenship for New Yorkers

Building a wall, the Muslim and refugee ban, sanctuary cities, an uncertain future for DREAMers: under the current administration, immigrants from all walks of life are under attack.

In February, NPR reported that even green card holders are afraid; they’re now applying for citizenship at unprecedented rates.

That’s because citizenship offers protection and security.

America has a long history of welcoming people from all over the world. During the last decade, the U.S. added more than 6.6 million citizens into the fabric of our nation, with 730,000 in 2015 alone. But there are many people eligible for citizenship who don’t apply.

One of the biggest barriers? Cost.

Lending Circles can pave the way to opportunity.

In the 2017 State of the State Book, Governor Cuomo makes a commitment to protect the safety, security, and dignity of immigrants. In just a few months, nonprofits in New York State will be able to offer Lending Circles loans to people who can’t afford to become citizens or lack access to financial products.

Why is this work critical?

  • Because immigrants represent one out of five New Yorkers and contribute significantly to the state’s economy as business owners, workers, consumers, and taxpayers.
  • Nearly one million New Yorkers are eligible to become U.S. citizens, but many are unable to do so because they cannot afford the $725 application fee.
  • While some qualify for fee waivers, this cost barrier stands between 158,000 New Yorkers and citizenship.
  • MAF is proud to join forces with the good people of the State of New York to pave the way to financial security for New Yorkers through 0% interest loans.

Want to help?

  • Get informed. Check out the State of the State book (page 172) and keep an eye out for more updates coming soon.
  • Get invested. Any new expansion or effort requires new support. Help us build our Lending Circles community in New York!
  • Get in touch. We’ll be in New York soon and would love to continue the conversation in person. Email us at [email protected].

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It’s hard to believe Jessica Leggett joined the MAF Board of Directors just a few months ago – it feels like she’s been with us forever! Jessica joined the Board this past summer, and she’s hit the ground running. She supported us in the preparations for the Lending Circles Summit, delivered remarks at the MAFter Party, and even joined us for our holiday party at Urban Putt! But most importantly, she’s leveraged her investment, entrepreneurial, and business experience to provide invaluable guidance to us on our development efforts.

Here’s a little about Jessica.

What do you do in addition to being a MAF Board Member?

I run my own business: 7 Gold, an angel-investing platform that invests in mission-driven, early-stage businesses. I started 7 Gold almost 3 years ago after working for several large investment firms in New York.

How did you first “meet” MAF? What inspired you to join the Board?jessica-leggett-headshot

When I first moved to the Bay Area, I got involved in the Tipping Point Community. I had been involved at the Board level with an organization back in New York, and I wanted to find a way to get involved out here. Being a Tipping Point grantee is a badge of honor, so it said a lot to me about MAF that they’d earned that recognition. I was interested in FinTech businesses – I’d invested in one. So MAF caught my attention.

In my non-MAF work, I’m meeting and working with a lot of companies that are very innovative, and that are at the stage of focusing on rapid growth – and changing the world! I’m excited to take the exposure I have in my for-profit work and apply it to MAF’s continued growth.

So what’s next? What are you looking forward to in your role on the MAF Board?

I see MAF at a really interesting crossroads. We’ve identified a problem, figured out a solution, created a product, and proven it to be successful. Now we’re at the moment of determining how much we want to continue scaling the solution and how much we want to drill down more deeply into the problem to find other powerful, complementary solutions. I’m excited to be part of that process: strategizing and figuring out next steps!

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Welcome to the family, Jessica!

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MacArthur Award Blog Header

Today, the MacArthur Foundation announced this year’s class of MacArthur Fellows. Among the short list of esteemed awardees is José Quiñonez, Founder and Chief Executive Officer of Mission Asset Fund (MAF). The announcement has been covered by news outlets including the New York Times, the Washington Post, and The LA Times.

The MacArthur Fellowship, often referred to as a “genius grant,” recognizes those with exceptional creativity, a track record of achievement, and the potential for significant contributions in the future. Each fellow receives a no-strings-attached stipend of $625,000 to support awardees’ pursuit of their creative visions. Since 1981, fewer than 1,000 people have been named MacArthur Fellows. Fellows are selected through a rigorous process that has involved thousands of expert and anonymous nominators, evaluators, and selectors over the years. Past fellows have included notable individuals like Henry Louis Gates, Jr., Alison Bechdel, and Ta-Nehisi Coates.

“This award is a high honor that recognizes the ingenuity of people who live in the shadows, who come together to help one another to survive and thrive in life. The award lifts up what is right and good in people’s lives – the trust and commitment they have for one another,” says Quiñonez.

According to the Foundation:

José A. Quiñonez is a financial services innovator creating a pathway to mainstream financial services and non-predatory credit for individuals with limited or no financial access. A disproportionate number of minority, immigrant, and low-income households are invisible to banks and credit institutions, meaning they have no checking or savings accounts (unbanked), make frequent use of nonbank financial services (underbanked), or lack a credit report with a nationwide credit-reporting agency. Without bank accounts or a credit history, it is nearly impossible to obtain safe loans for automobiles, homes, and businesses or to rent an apartment.

Quiñonez is helping individuals overcome these challenges by linking rotating credit associations or lending circles, a traditional cultural practice from Latin America, Asia, and Africa, to the formal financial sector. Lending circles are typically informal arrangements of individuals pooling their resources and distributing loans to one another. Through the Mission Asset Fund (MAF), Quiñonez has created a mechanism for reporting individuals’ repayment of small, zero-interest loans to credit bureaus and other financial institutions. MAF participants are able to establish a credit history and gain access to credit cards, bank loans, and other services, and lending circles focused on youth provide individuals with fees for Deferred Action for Childhood Arrival applications and apartment security deposits (which are particularly needed by youth aging out of foster care). All participants are required to complete a financial training class and are provided with financial coaching and peer support. Since the lending circles were established in 2008, participants’ credit scores, collectively, have increased an average of 168 points.

Quiñonez has established a network of partnerships with the financial services industry to enable other organizations to replicate his approach. With Quiñonez and MAF providing the technology necessary to disperse and track loans (a significant hurdle for many nonprofits) and assisting in securing local partners and investors, 53 nonprofit providers in 17 states and the District of Columbia are now using this powerful model in their communities. Quiñonez’s visionary leadership is providing low-income and minority families with the means to secure safe credit, participate more fully in the American economy, and obtain financial security.

Felicidades, José!

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This October 26-28, MAF will host the first ever Lending Circles Summit in the city where MAF began – San Francisco. With a mix of networking, interactive design thinking workshops, and panels featuring Lending Circles clients and experts like Experian and FICO, the Summit has something for Lending Circles providers everywhere.

But don’t take our word for it. Here’s why members of our Partner Advisory Council are excited to join us at the Summit:

1. “My reason for attending the Lending Circles Summit is two-fold: I am interested in meeting and talking with the various other partner providers to discuss successes and challenges and I am also interested in seeing how the lending circles model and platform can grow and expand in the innovative ways that MAF is known for.” —Leisa Boswell, SF LGBT Center, PAC Co-Chair

2. “I am attending the Lending Circles Summit to connect, share and learn from the many others that trust and recognize the financial capacity of those that are invisible to traditional lending institutions.” —Jorge Blandón, Family Independence Initiative, PAC Member

3. “I am attending the Summit to learn from others on how they effectively “get the word out” about Lending Circles in their community. I also want to discover ways to more efficiently scale the program so we can serve more people without increasing our headcount or expenses. And, most importantly, it will be great to build new connections with people who have the same passion for the work that we all do!!” —Rob Lajoie, Peninsula Family Services, PAC Member

4. “By attending the summit, I’m looking forward to being inspired by other LC organizations who will share their best practices and gain new insight on delivery/marketing techniques to engage new clients and increase the follow through of our financial capabilities clients to improve our outcomes for Lending Circles and our financial capabilities program.” —Judy Elling Pryzbilla, Southwest Minnesota Housing Partnership, PAC Member

5. “I am attending the LC Summit to learn from other asset builders around the country. I am excited to learn from others who have the same passion as me of helping our community members improve their financial stability.” —Gricelda Montes, El Centro de la Raza, PAC Member

6. I am attending Lending Circles Summit because I am happy to join other providers in celebrating our clients’ achievements and accomplishing of their goals through their participation in Lending Circles. It is only fitting we all get together to share our experiences, celebrate the success of such a great initiative and discuss ways to increase its impact. —Madeline Cruz, The Resurrection Project, PAC Member

Ready to join us this October?

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MAF 2015 Annual Report Building Better

 

MAF’s 2015 Annual Report Building Better tells the story of what’s possible when we continually challenge ourselves to build better partnerships, better technology, and better progrMAF 2015 Annual Report Membersams.

In 2015, we’re proud to have built a diverse network of 53 nonprofits in 17 states and D.C.

With new partners, we’ve expanded our hubs in the Bay Area, Los Angeles, and the Northwest. And we’re thrilled to celebrate over $5 million in zero-interest social loans that are helping thousands of hardworking students, parents, and entrepreneurs build brighter financial futures.

That means an entrepreneur like Sandra can get a zero-interest business loan to grow her inventory and reach new clients — all while building her credit. And a college student like Kimberly can secure Deferred Action to gain access to financial aid and attend the school of her dreams.

We did not do this alone.
MAF 2015 Annual Report Members

Thanks to our funders, donors, board, and clients across the U.S., together we’re building better solutions to unlock the full economic potential of communities living in the financial shadows.

Thank you for building with us to make that possible.

We couldn’t have created this report without extensive support from Dan Massey of Google and Billy Roh of Opendoor, who generously volunteered their time and talents to build an ever better annual report for us.

Find out what’s up next for MAF in 2016 by checking out our Annual Report here!

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IMG_0132Todo es sobre ser auténticos. Al crecer y evolucionar, aprendemos que interactuar con personas auténticas será fundamental para obtener una retroalimentación que mejore e informe los programas y productos. Con esto en mente, decidimos a principios de este año crear el primer Consejo Consultivo de Miembros (MAC por sus siglas en inglés).

¿Cuál es nuestra meta? Fomentar el diálogo entre los clientes que usan nuestros programas para así conocer más de cerca sus experiencias. El MAC brindará sugerencias y consejos sobre nuevos programas así como la experiencia del cliente, ayudando a dar forma a nuestras metas estratégicas.

El mes pasado se reunió por primera vez el Consejo Consultivo de Miembros, compuesto por 8 de nuestros clientes (miembros), representando la diversidad de nuestra comunidad. Nos reuniones con Santos, uno de los miembros, para saber qué significa para el MAC para él.IMG_0423

Cuéntanos un poco sobre ti:

Yo crecí en el centro del Distrito 9, comúnmente conocido como “La Mission”, en las calles 26 y Valencia, donde la intersección me vio crecer y convertirme en la persona que soy. Al crecer en La Mission, pude obtener una perspectiva que no se obtiene o experimenta en otros Distritos en San Francisco. La Mission está repleta de culturas de todas partes del mundo. Tenemos personas que son muy extrovertidas, que no tienen miedo de hablar en contra de la injusticia.

¿En qué trabajas?

Al crecer con los ideales de La Mission, yo quería hacer algo por mi comunidad, algo que pudiera enseñar o, como decimos aquí, “Speak some game” (Llevar con la realidad), a las generaciones más jóvenes. Así que comencé a trabajar en la Bay Area Urban Debate League. Como coordinador regional para San Francisco, estoy a cargo de todos los programas de la Liga aquí en San Francisco. Yo trabajo principalmente con escuelas como Mission High School, Wallenberg High School, Downtown High School, June Jordan School for Equity y la Ida B. Wells High School.

¿Por qué te uniste al programa de Lending Circles?

Yo me uní a Lending Circle porque mi madre pensó que sería una buena manera de comenzar a generar un historial crediticio. Al principio estaba un tanto escéptico, pues sabía lo que era una Tanda y cómo en ocasiones eran un tanto sospechosas y no siempre funcionaban como debían. Ahora yo ya he participado en 3 o 4 Lending Circles.

Una de las cosas que más disfruto sobre Lending Circles es la clase de finanzas que hay que tomar. Es obligatorio tomar la clase para poder unirse a un Lending Circle. El constante refuerzo de educación financiera es fundamental. Yo he aprendido mucho gracias a ese constante recordatorio. Yo siempre estoy tratando de lograr que más personas se unan al programa. Usualmente les muestro el sitio web y les cuento un poco sobre mi historia.

¿Cuál fue tu reaccIMG_0418ión al conocer sobre MAC?

Cuando recibí la llamada, yo no sabía cómo reaccionar. Yo estaba en el techo de mi edificio cuando recibí la llamada. La llamada llegó como una brisa de aire – fue como deja vu. Cuando hablé con Karla sobre convertirme en parte del primer grupo de miembros MAC, no lo dude y de inmediato dije que sí.

 

¿Qué parte de MAC te emociona más?

Una de las cosas que me parecen muy interesantes es que puedo representar a la comunidad. Hablas por las personas que no pueden ser escuchadas. Ese es un poder que no todos pueden sentir. Las decisiones de los miembros MAC afectarán a la comunidad y eso es lo que en verdad llamó mi atención.

El que pueda experimentar y tomar decisiones para la comunidad es algo maravilloso. Con la ayuda de los otros 7 miembros podemos lograr que nuestra comunidad sea mejor. La primera generación de miembros MAC establecerá los estándares para las siguientes generaciones, por lo que construiremos un grupo cuya prioridad sea la comunidad.

 

La siguiente reunión del MAC está programada para el 3 de agosto, fecha en que el grupo espera poder hablar sobre sus metas para el próximo año.

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