Prince William Area

1
The Agent as CEO

• Prince William Area
• Financial Education Program

Joe Botta January 18, 2007
2
Know ThyselfCEO Continuum
Evaluate You
Leadership
Management
Strong
Weak
Interpersonal
Organization Planning
Results Orientation
3
Earn Credentials
Be An Expert

• HUD Certified Housing
• Counseling Agency
• Virginia Housing Development Authority Certified
  Training Agency
• Association for Financial Counseling and Planning
  Education (AFCPE)
• Accredited Financial Counselors
• Certified Housing Counselors
• Virginia Assn of Housing Counselors Certified
  Counselor

4
Know How You Fit
Know Your World
Board of County Supervisors/ County Executive
VA Tech VA State
CSREES U.S. Dept of Agriculture
Cooperative State Research, Education,
Extension Service
Cooperative Extension Prince William Office
Extension Leadership Council
5
Write Your Mission Statement
Know Your Mission

• To educate clients on personal financial
  management skills so that they will
• avoid financial problems,
• live within their means,
• maintain stable housing
• and provide for themselves through retirement
• and to support and counsel clients in financial
  trouble so that they will take the necessary
  actions to achieve financial stability.

Prevention Intervention
6
Financial Management From Cradle to Grave
Push Your Vision
Start
7
What Are You Selling?
Provide Seek

• We Deliver
• Counseling education on most any housing or
  personal finance topic
• Quality services with a proven track record
• University level knowledge based on research
• A program that can be replicated elsewhere

• We Seek
• To provide financial literacy and housing
  education counseling
• To obtain multi-year funding support from
  continuing partnerships

We sell wealth building.
8
Why Are Why
Are You Selling It?
Determine Need

• Situation Analysis
• County Comprehensive Plan
• Driven by funding source

9
What Do You Have to Work With?
Identify Your Resources

• Three Full Time Staff
• (one bilingual)
• Two Part Time Staff
• Federal, State Local Funding

and over 50 volunteers (some bilingual)
10
Have Friends
Cultivate Partners

• PWC Office of Housing
• U.S. Department of HUD
• Manassas Housing Trust Fund
• Prince William Police Fire Departments
• Freddie Mac
• Prince William County Public Schools
• U.S. Internal Revenue Service
• Department of Social Services
• Non Profits For Profits

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Sources of Funds
Analyze Your Funding
Freddie Mac
HUD
9
11
PWC Housing 42
Personal Finance 35
(Fees .4)
Housing 65
PWC 35
MHTF 3
Total 268,329
12
Results
Track Results
Outputs

• 420 Families
• 145 Workshops
• 1,767 Participants
• 79 Volunteers 1,401 Volunteer Hours

Outcomes

• 30 Buy Home Within One Year (48 of 161)
• 100 of Mortgage Default Dont go to Foreclosure
  (67 of 67)
• 84 Report Adopting Sound Spending Plan
• 91 Report Maintaining Economic Stability

13
Use Charts Graphs
Know Your Stats
Completing Financial Assessment
Dont Lose Home to Foreclosure
Note Assessments reflect of families
14
Look Ahead for New Opportunities
Deal With Change

• Predatory Lending
• PWC interest
• 9 Pay Day lenders with 22 offices in the Prince
  William/Manassas area
• Potential for HUD funding
• Reverse Mortgages
• Increase in aging population
• Mortgage Defaults
• Housing market changes
• Free Tax Prep

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An Approach to CEO-ness
1. Evaluate You
7. Determine Need
8. Identify Your Resources
2. Be an Expert
3. Know Your World
9. Cultivate Partners
4. Know Your Mission
10. Analyze Your Funding
5. Push Your Vision
11. Track Results
6. Provide Seek
12. Know Your Stats
13. Deal With Change