Keith B. Sears, Director. Master Trainer

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Center for American Fatherhood

• Rebuilding Communities through Fatherhood
• Keith B. Sears, Director
• Master Trainer
• www.centerforamericanfatherhood.org

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Mission

• Center for American
  Fatherhoods Mission
• Center for American Fatherhoods mission is to
  transform the well being of children by
  increasing the opportunities of children growing
  up with involved, responsible, and dedicated
  fathers.
• We accomplish our mission through
• Transformational change of fatherhood roles
• Educating and inspiring all American fathers,
  through public awareness, research, grassroots
  organization, and other resources.
• Developing new leaders for innovative national,
  state, and local community fatherhood initiatives
  through curricula development, training, and
  technical guidance.
• Engaging the public, private, and target group
  sector of society through new alliances and
  partnerships.
• Creating, Advancing, and Educating Fathers

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CAF Outcomes

• Transformed Fathers
• Public Support
• Community Improvement
• New Public Policy
• Economic Security for Children
• Improve Program Design

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Center for American Fatherhood

• 10th Annual International Fatherhood Conference
• June 10, 2008 June 13, 2008
• Washington, DC

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Center for American Fatherhood

• Workshop Session
• Asset Development for Fathers
• Moving Out of Poverty

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Discussion

• This workshop will focus on the ways fathers can
  lift themselves and their families out of
  poverty, and how to improve the opportunities for
  their children to succeed in the global economy

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Center For American Fatherhood

• In 2001 the median income for married couple
  families with children was 60,471, compared to
  only 28,142 for mother only families.
• Source Money Income in the United States 2001.
  Current population reports P60-218, Table 1

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Center for American Fatherhood

• In 1999 the median income for black female headed
  families was 18,244 compared to 50,656 for
  black married couples. For Hispanic families, the
  corresponding figures were 18,701 and 37,132
  for white families 26,529 and 57,089
• Source Money Income in the United States 2001.
  Current population reports P60-218, Table 4

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Center for American Fatherhood

• Basic premise is that once we teach fathers about
  responsibility then our job is done
• Agree or Disagree

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Center for American Fatherhood

• Fathers Asset Program Components
• Target Group
• Recruitment
• Orientation
• Financial Case Management
• Economic Literacy Classes
• IDAs
• Asset-Specific Training
• Savings Clubs
• Bundling of Support Services

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Target Group

• Fathers employed over one (1) year
• Stable home environment
• Motivated
• Non Custodial Parents
• Two income families in poverty
• Family Goals
• Expectations

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Recruitment

• Employers
• Churches
• Fatherhood Programs
• Child Support Enforcement
• Court System
• Department of Social Services
• Hospitals

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Orientation

• Projected savings per month
• Projected savings for each individual
• Expensive training
• Expectations of savings

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Financial Case Management

• Credit history assessment and repair
• Approved savings plan
• Family or individual mission statement
• Budgeting
• Goal setting

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Economic Literacy Classes

• Approved basic financial literacy course
• FDIC (MoneySmart)
• Citifinancial Educational planning
• MoneyWise (Consumer Action)

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Asset Specific Training

• Micro-Enterprise Program
• Business Training
• Business Underwriting
• Credit Counseling
• Small Business start up grants
• Provide access to software to develop business
  plans

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Asset Specific Training

• 1st Time Homebuyer Education
• Homebuyer education certificate program
• Landlord education program
• Home maintenance education
• Credit reports and counseling
• Mortgage originator (on site interviews)
• House seeker resources
• Research, foreclosure, new listings

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Asset Specific Training

• Post Secondary Education
• College nights
• Workshops on college funding
• Career counseling for middle high school
• Youth IDA accounts
• Clearinghouse for college scholarships
• Americorp Americorp VISTA

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Savings Clubs

• Peer Support
• Success
• Talk about trials
• Family support
• Guest speakers
• Financial management investing

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Bundling of Services

• Medical Insurance
• Food Stamps
• Transportation
• Workforce Development
• Childcare Vouchers
• Housing Assistance
• IDA ( small business, down payment)

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What have we learned?

• Low-income fathers CAN save they need to be
  shown that they can.
• It can take 6 to 9 months to change lifelong
  behavior around spending and saving.
• IDA programs must be multi-year programs.
• As fathers build assets, they build their
  self-confidence and self-esteem.

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Center for American Fatherhood

• Assets are hope in concrete form.
• Income fills peoples stomachs, assets change
  their heads.
• Dr. Michael
  Sherraden
• Assets and the Poor

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Asset Building

• Few people have ever spent their way out of
  poverty. Those who escape do so through saving
  and investing for the long-term.
• Michael Sherraden
• Center for Social Development

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Economic Assets Matter

• Stronger, Healthier Families
• Enhanced Self-Esteem
• Long-term Thinking and Planning
• More Community Involvement
• Hope for the Future
• Family

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Support for Asset Building

• Homeownership Support
• Small Business Development
• Education / Careers
• Individual Development Accounts
• Rising out of Poverty
• Chamber of Commerce
• Business Alliances

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Partners

• Funders
• HHS Assets for Independence (Demonstration
  Program)
• DOL
• CitiFinancial
• Ruth Brown Foundation
• Fairfield County Foundation
• Tow Foundation
• GE Money
• Chase Bank
• RBS
• Housing Development Fund
• 75,000 reserved for IDA participants for
  first-home mortgage assistance
• Chase Manhattan Bank
• Involved in planning and development of program
• Devised way to structure accounts and report
  account activity

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Accomplishments of Participants

• 58 homes purchased
• 12,571,765
• 22 post secondary
• 154,113
• 29 business established
• 214,643
• Return on Investment (ROI)
• 12,940,521
• Total customer savings
• 485,643

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Center for American Fatherhood

• Contact information
• Keith B. Sears, Director
• 34 Woodland Avenue
• Stamford, CT 06902
• 203-352-4876 (P)
• 203-352-2972 (F)
• KSears_at_centerforamericanfatherhood.org
• www.centerforamericanfatherhood.org