Mission

1
(No Transcript)
2
Mission

• Juma Ventures empowers youth to make
  successful transitions in adulthood, through an
  innovative program that integrates employment in
  social enterprises and essential support
  services. Jumas program provides the foundation
  for youth to transcend challenging circumstances,
  fulfill their inherent potential, and positively
  impact their communities.

3
Jumas IDA program

• Operating IDA programs since 1999
• IDA Participants to date 653
• Current active savers 370
• Amount that youth have saved from their own
  deposits 656,491
• Total Funds that youth have spent towards asset
  purchases to date 843,669
• 70 of participants use their IDA money towards
  post-secondary education expenses.

4
Lessons Learned

• IDAs are a complimentary program.
• Be realistic about the level of support some
  clients may need.
• Spend extra time during enrollment, if needed.

5
Lessons Learned

• Permissible uses that help youth build stability
  and move toward assets have most success.
• Some flexibility in account structure emergency
  withdrawals, small minimum deposits.

6
What is GROW? A State-wide Youth IDA Initiative

• Partnership with seven youth-serving agencies in
  the San Francisco East Bay, Los Angeles and San
  Diego to deliver IDAs to their youth
  constituency.
• Multi-year funding from Merrill Lynch, Walter and
  Elise Fund, Levi Strauss Foundation

7
Who is GROW

• Current partners include
• East Bay Young Entrepreneurs at Haas, East
  Oakland Youth Development Center
• San Diego South Bay Community Services, Maac
  Project
• Los Angeles Brotherhood Crusade, Long Beach Boys
  and Girls Club, Conservation Corp of Los Angeles

8
GROW program

• Competitive RFQ process based on partner criteria
• Each agency enrolls twenty youth
• Staffing is at 4 Full Time Juma staff
• Partners deliver front end services
• Juma administers the accounts, trains partners

9
GROW Program overview

• Start-up toolkit partners receive outreach
  materials, application, withdrawal form
  templates, participant manual, operations manual,
  financial education curriculum, etc
• Ongoing technical support participant
  management, account management, policy,
  retention, etc
• Learning and mutual support circles periodic
  e-newsletters, teleconferences, annual
  evaluations
• Juma houses accounts and maintains relationship
  with financial institution

10
Savers Policy

• Youth between 15-19 are recruited
• Savers can use IDA funds to save for post
  secondary education microenterprise
  homeownership Roth IRA or Savings account 529

11
Sample of Financial Education Curriculum

• Class 5 Where Am I Going Next?
• Researching costs associated with desired
  transition (independent living, college, et al)
• Identifying resources and supports
• Recognizing new responsibilities and
  liabilities
• Developing a budget for first year in college

12
Capacity Building

• Juma provides youth-serving agencies with
  expertise and tools they need to deliver their
  own IDA programs and eventually sustain program
  into the future.
• Goal To enlarge the asset/IDA field among youth
  serving agencies

13
Division of Labor

• Juma provides back-end support, GROW partners
  provide front-end service
• Goal To ensure quality asset services as part of
  wrap-around programming to reinforce goal setting
  and positive habits.

14
Centralized Administration

• Juma houses accounts, provides training and
  ongoing technical support.
• Goal To ease administrative burden for partner
  agency, to reduce cost per unit of service for
  both Juma and collaborative partners

15
Standardization

• Includes financial education curriculum, matched
  savings account, partner training materials.
• Goal To replicate model of asset delivery and
  test efficacies of IDA policy among different
  agencies and their youth

16
Future Plans

• From our GROW Initiative we hope to learn
• Best practices for working with diverse
  populations of youth
• Ability of asset program to encourage goals such
  as post-secondary education, job or program
  retention
• Lessons on building a successful collaborative
  partnership model for delivering a large number
  of IDAs
• Impact of technical assistance provision on
  building staff capacity and ensuring successful
  outcomes
• Successes and challenges of sustaining IDA
  programs in youth serving agencies

17
Lessons Learned from GROW

• Launching partnership takes time
• Expect to retrain and reinforce processes and
  policy
• Be intentional about the policies that are
  created
• Relationship-building is key

18

• Juma Assets Staff
• Maria Sison. Assets Services Manager
  marias_at_jumaventures.org
• Doris Tseng. Program Coordinator
• dorist_at_jumaventures.org
• Joshua Bloom. Program Coordinator
  joshuab_at_jumaventures.org
• Yvonne Chen. Program Coordinator
  yvonnec_at_jumaventures.org