The Asset Development Action Alliance was a community foundation network designed to help participants improve the financial security of low-income families through Children’s Savings Accounts. Built on the knowledge that peers learn best from each other, the ADAA brought together community foundation teams to work together over the course of a year to promote and expand access to CSAs.
Structure
The Asset Development Action Alliance was made up of four- to five-person teams organized by each of the six participating community foundations. Teams include a senior community foundation executive, preferably the CEO, who has the external relationships necessary to bring partners to the table and is best positioned to effect change.
In addition, each team also included a community foundation board member with expertise and the ability to help foster knowledge and links to the entire board, another senior staff member and at least one community partner, such as a representative from a school district, financial institution or other foundation.
Meeting Elements
The ADAA met three times throughout 2018 and early 2019. Each meeting took place over three days.
Meeting elements included:
- Customized program content from field experts
- Substantive presentations on family asset development from community foundations from inside and outside the Action Alliance
- Structured peer advising
- Team action planning
- Informal networking time
- Site visits, as appropriate
Desired Outcomes
- Participating community foundations have a better understanding of important CSA program elements and some of the effective strategies for expanding access to CSAs for low-income families.
- Participating community foundations make progress on their CSA-related work.
- Participating community foundations better align board and staff in around their CSA work.
- Participating community foundations gain regular, organized and well-structured exchange with colleague foundations that are highly motivated to improve the financial security of low-income families by increasing access to children’s savings accounts.
About the Network
Participants
- Barry Community Foundation
- Evanston Community Foundation
- Fremont Area Community Foundation
- Orcas Island Community Foundation
- Community Foundation of Wabash County
- Whatcom Community Foundation
Content Partners
- Prosperity Now
- Frank DeGiovanni (formerly from the Ford Foundation)
Funders
Learnings
The work done by community foundations through the Family Economic Security Action Alliance and subsequent Asset Development Action Alliance informed the creation of the report below.