Oregon IDA Roadshow: The data behind the Initiative

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Every year the Oregon IDA Initiative helps thousands in Oregon buy homes, start small businesses and get an education. Here's the data behind the Initiaitve.

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Oregon IDA Roadshow: The data behind the Initiative

  1. 1. IDA Data Roadshow Neighborhood Partnerships October 2015
  2. 2. Objectives of the Data Roadshow •Share data-based report on IDA’s reach and outcomes •Reflect on what the data means •Discuss impacts seen in your community
  3. 3. Agenda •Welcome and Context •Reach •Graduation •Financial habits •Evaluation
  4. 4. IDAs Investing in the personal and financial growth of individuals to build strong communities throughout Oregon (Oregon Housing Council, 2013)
  5. 5. IDAs •Established in 1999 •Now the largest state IDA Initiative in the US •Account holders, ages 12 and up, save for approved purposes •Savings are matched when goal is reached, typically $3 to $1 •Education and training is a critical component
  6. 6. Funding •Contributions to the Initiative qualify for an Oregon state tax credit •Funds managed on a centralized basis, overseen by an investment committee
  7. 7. Agenda • Welcome and Context • Reach • Asset class • Geography • Age • Race and ethnicity • Educational attainment • Income • Family type • Gender • Graduation • Financial habits • Evaluation
  8. 8. Reach: Population •Recorded in Outcome Tracker •4986 individuals opened an IDA January 2012 to May 2015 •Data on the number of Oregonians at or below 200% FPL from US Census—American Community Survey and PUMS, 2013 •Some analyses use smaller subsets of the data
  9. 9. 0 200 400 600 800 1000 1200 1400 1600 1800 2008 2009 2010 2011 2012 2013 2014 The number of new savers per year has nearly doubled in 5 years.
  10. 10. Education has consistently been the largest asset class savers enroll in, followed by Home Purchase and Business. 0 100 200 300 400 500 600 700 2008 2009 2010 2011 2012 2013 2014 Ed Home Purchase Business Home Renov Assistive Technology
  11. 11. 19% 15% 9% 5% 18% 34% 38% 19% 10% 3% 12% 17% 0% 10% 20% 30% 40% 50% Multnomah Southern Oregon Central Oregon Eastern Oregon Clackamas & Washington Valley/North Coast Region's proportion of Oregon's IDA Openings, 2012-2014, (n=4,513) Region's proportion of Oregonians below 200% Poverty, 2013 (n=1,374,319) IDA savers live in all regions of Oregon. When compared to Oregon’s low-income population in those regions, some regions appear overrepresented and others underrepresented.
  12. 12. 12% 11% 27% 27% 35% 43% 27% 19% Oregonians below 200% FPL (n=740,576) IDA Openings (n=4,640) IDAs are distributed among youth and adults in proportion to their share among Oregonians with low incomes. Age 12-17 Age 18-26 Age 27-39 Age 40-54 Comparison of Oregonians with household income below 200% poverty level in various age groups (2013) with those who opened an IDA in 2012-2014
  13. 13. Most Education savers are younger than age 27, and most Home Purchase and Business Savers are age 27 and older. 27% 11% 9% 16% 44% 25% 53% 56% 22% 40% 27% 23% 7% 18% 10% 6% 1% 7% Business Home Purchase Education All Age 12-17 Age 18-26 Age 27-39 Age 40-54 Age 55+ (N=4953) (N=1933) (N=1527) (N=1145)
  14. 14. Comparison of Oregonians with household income below 200% poverty in various age groups with IDA savers IDAs reach people of color in all age groups. Asian Oregonians and younger Black Oregonians are underrepresented. 11% 23% 5% 17% 3% 11% 8% 1% 7% 6% 8% 3% 4% 2% 2% 5% 3% 10% 2% 3% 5% 5% 2% 4% na 1% na 1% <1% 1% 76% 71% 81% 66% 86% 71% OR Age 12-17 IDA Age 12-17 OR Age 18-26 IDA Age 18-26 OR Age 27-55 IDA Age 27-55 (N=85,786) (N=519) (N=198,326) (N=1,236) (N=477,247) (N=2,925) Multi/ Other Asian Black Am. Indian /Alaska Native Native HI /Other PI White
  15. 15. 29% 48% 14% 34% 18% 17% 71% 51% 86% 66% 82% 81% Oregonians Age 12-17 IDA Age 12-17 Oregonians Age 18-26 IDA Age 18-26 Oregonians Age 27-55 IDA Age 27-55 Hispanic or Latino/a Non-Hispanic/Non-Latino Comparison of Oregon's population below 200% poverty in various age groups with IDA account openings in 2012-2014 IDA programs have been effective in enrolling participants of Hispanic ethnicity. (N=85,786) (N=514) (N=198,326) (N=1231) (N=477,247) (N=2884)
  16. 16. 12% 14% 9% 25% 10% 11% 9% 6% 6% 5% 2% 2% 8% 16% 3% 6% 1% 2% 2% 2% 1% 2% 1% 3% 2% 1% 1% 1% 1% 1% 68% 60% 82% 62% 85% 82% Multnomah IDA Multnomah Wash. & Clack. IDA Wash. & Clack. Valley/North Coast IDA Valley/N Coast (N=1722) (N=558) (N=779) Multi/ Other Asian Black Am. Indian /Alaska Native Native HI/ Pacific Is Comparison of Oregonians with low household incomes to IDA savers in each region IDAs reach people of color in all regions of the state. White (N=277,899) (N=257,970) (N=480,476)
  17. 17. 5% 6% 5% 8% 10% 13% 1% 1% 3% <1% <1% 1% 2% 2% <1% 1% 1% 2% 2% 4% 4% 18% 5% 4% <1% 1% 1% <1% 1% <1% 90% 86% 87% 73% 84% 79% Southern Oregon IDA Southern Ore. Central Oregon IDA Central Ore. Eastern Oregon IDA Eastern Ore. (N=869) (N=322) (N=252) (N=196,971) (N=107,310) (N=94,657) Multi/ Other Asian Black Am. Indian /Alaska Native Native HI/ Pacific Is Comparison of Oregonians with low household incomes to IDA savers in each region IDAs reach people of color in all regions of the state. White
  18. 18. 19% 23% 27% 43% 20% 27% 81% 77% 73% 57% 81% 73% Multnomah IDA Multnomah Wash. & Clack. IDA Wash. & Clack. Valley/North Coast IDA Valley/North Coast Hispanic or Latino/a Non-Hispanic/Non-Latino Participants of Hispanic or Latino/a ethnicity are found in all regions of the state. (N=775) (N=480,476) (N=554) (N=257,970) (N=1,701) (N=277,899)
  19. 19. 12% 19% 17% 12% 22% 21% 88% 81% 83% 88% 78% 79% Southern OR IDA Southern OR Central OR IDA Central OR Eastern OR IDA Eastern OR HNspanic or Latino/a (N=94,657) (N=252) (N=315) (N=107,310) (N=863) (N=196,971) Non-Hispanic/Non-Latino
  20. 20. 11 10 18 13 2 3 6 4 7 12 5 8 4 5 4 4 1 1 1 1 75 69 67 71 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Business Home Education All (N=4986) (N=1935) (N=1547) (N=1147) Racial diversity varies among savers for different assets. Multi/Other Asian Black American Indian/Alaska Native Native Hawaiian/Pacific Islander White
  21. 21. One quarter of savers are people of Hispanic or Latino ethnicity. Nearly 4 in 10 education savers are people of Hispanic or Latino ethnicity. 24% 38% 18% 16% 76% 62% 82% 84% All Education Home Purchase Business (N=4940) (N=1922) (N=1529 (N=1141) Hispanic or Latino Non-Hispanic/Non-Latino
  22. 22. 16% 31% 7% 6% 18% 20% 17% 16% 29% 32% 28% 23% 9% 6% 13% 9% 27% 11% 33% 46% All Education Home Purchase Business Less than HS HS Grad/ GED Some College 2-yr Degree 4-yr Degree+ Many savers have had at least some college education when they open an IDA. (N=4829) (N=1918) (N=1481) (N=1103)
  23. 23. 91% 10% 6% 24% 3% 42% 8% 15% Education Youth Education Adults Most adult education savers have at least some college education when they open their IDA. Less than HS HS Grad/ GED Some College 2-yr Degree 4-yr Degree+ (N=1407) (N=510)
  24. 24. 5% 6% 3% 4% 28% 35% 15% 37% 29% 28% 29% 35% 33% 27% 50% 21% 4% 5% 4% 3% All Education Home Purchase Business Negative 1%-30% 50%-80% >80% AMI Participants’ household incomes range from extremely low income to low income. Incomes for most Home Purchase savers are greater than 50% AMI, but a sizeable number have extremely low household incomes. Negative or 0 1%-30% AMI 30%-50% AMI 50%-80% AMI 80% AMI- 200% FPL (N=4940) (N=1914) (N=1541) (N=1133)
  25. 25. 11% 4% 20% 40% 30% 27% 31% 25% 8% 4% Education Youth Education Adults Negative or 0 1%-30% AMI 30%-50% AMI 50%-80% AMI 80% AMI- 200% FPL Among Education savers, more adults have extremely low household incomes than youth. (N=1398) (N=512)
  26. 26. Two parent Single mother Single father Two+ adults, no kids Single person Other Savers most commonly reside in two parent, single mother, or single person households. About 4 in 10 Business savers are single non-parents. 31% 32% 37% 32% 11% 27% 20% 20% 3% 3% 2% 2% 11% 10% 5% 8% 42% 26% 34% 34% 2% 2% 3% 3% Business Home Purchase Education All (N=4975) (N=1933) (N=1541) (N=1147)
  27. 27. Two parent Single mother Single father Two+ adults, no kids Single person Other Adult education savers are split about evenly between parents and non-parents. 57% 29% 27% 17% 3% 1% 0% 6% 9% 42% 4% 3% Education Youth Education Adults (N=1418) (N=512)
  28. 28. Two-thirds of savers are women. Men make up a slightly larger proportion of business savers. 64% 64% 66% 59% 36% 36% 34% 41% All Education Home Purchase Business Women Men (N=4935) (N=1933) (N=1522) (N=1136)
  29. 29. Reach: Discussion • Who is and is not being enrolled? • What successes and challenges do programs experience in reaching out to different demographics? • What factors should be considered when reaching out to potential savers? • What more would you like to know about who the IDA is reaching?
  30. 30. Agenda • Welcome and Context • Reach • Graduation • Exit reasons • Age • Race and ethnicity • Educational attainment • Income • Family type • Gender • Financial habits • Evaluation
  31. 31. Graduation: Population •Recorded in Outcome Tracker •3611 individuals closed IDAs January 2012 to May 2015 •Graduation = At least one matched withdrawal •Non-completion = No matched withdrawals
  32. 32. Graduated Voluntarily withdrew Violated rules Could not meet requirements Unable to make deposits Moved out of state/area 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2009 2010 2011 2012 2013 2014 (N=314) (N=455) (N=699) (N=856) (N=878) (N=1258) Graduates make up about 70% of exits in recent years. About 15% of exits each year are savers who voluntarily withdrew.
  33. 33. Business Graduates Education Graduates Home Purchase Graduates 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 2009 2010 2011 2012 2013 2014 Business Savers have the highest grad rates. Home Purchase Savers have the lowest graduation rates of the three major asset classes.
  34. 34. ‘Voluntarily withdrew’ is the most common reason for non-completion. 8% 13% 21% 6% 10% 5% 2% 4% 7% 2% 3% 3% 0% 5% 10% 15% 20% 25% Business Education Home Purchase Withdrew Violated rule Could not meet req Unable to deposit Exits in 2012-2014 (N=802) (N=1053) (N=973)
  35. 35. 70 72 68 61 52 59 63 67 67 80 83 81 65 71 73 69 61 0 10 20 30 40 50 60 70 80 90 100 All Age 12-17 All Age 18-26 All Age 27-39 All Age 40-54 All Age 55+ Business Age 18-26 Business Age 27-39 Business Age 40-54 Home Age 27-39 Education Age 18-26 Education Age 27-39 Education Age 40-54 Business Age 55+ Home Age 18-26 Home Age 40-54 Home Age 55+ Education Age 12-17 (N=300) (N=852) (N=1544) (N=650) (N=236) (N=196) (N=626) (N=239) (N=71) The youngest and oldest savers appear to have lower graduation rates. (N=96) (N=559) (N=237) (N=91) (N=290) (N=538) (N=294) (N=114)
  36. 36. 72 69 62 75 55 0 10 20 30 40 50 60 70 80 90 100 American Indian/ Alaska Native Asian Black Multi/Other White (N=131) Graduation rates among people of different races vary. (N=96) (N=244) (N=498) (N=2610)
  37. 37. Savers of Hispanic ethnicity have a lower rate of graduation than Non-Hispanic savers. The differences are greater among Education savers than among Home Purchase savers. 63 72 63 70 59 63 0 10 20 30 40 50 60 70 80 90 100 Hispanic Non Hispanic Home Hispanic Home Non Hispanic Education Hispanic Education Non Hispanic (N=695) (N=2885) (N=395) (N=846) (N=176) (N=957)
  38. 38. 85 71 59 69 57 56 87 74 72 80 68 61 0 10 20 30 40 50 60 70 80 90 100 HS or less Some College 2-yr Degree + Business HS or less Business Some College Business 2-yr Degree + Home HS or less Home Some College Home 2-yr Degree + Education HS or less Education Some College Education 2-yr Degree + (N=180) (N=246) (N=551) (N=573) (N=452) (N=221) Savers with more education upon starting the IDA graduate at higher rates. (N=1118) (N=287) (N=350) (N=492) (N=1110) (N=1335)
  39. 39. 60 84 71 57 0 10 20 30 40 50 60 70 80 90 100 Education Adult HS or less Education Adult Some College Education Adult 2-yr Degree + Education Youth HS or less Among Education savers, adults with more education upon opening an IDA graduate at higher rates. (N=295) (N=441) (N=220) (N=278)
  40. 40. 64 63 62 61 60 50 78 82 80 66 70 68 0 10 20 30 40 50 60 70 80 90 100 1%-30% AMI 30%-50% AMI 50%-80% AMI Business 1%-30% AMI Business 30%-50% AMI Business 50%-80% AMI Home 1%-30% AMI Home 30%-50% AMI Home 50%-80% AMI Education 1%-30% AMI Education 30%-50% AMI Education 50%-80% AMI (N=173) (N=137) (N=110) (N=72) (N=123) (N=264) (N=466) (N=450) (N=500) Graduation rates do not generally vary by household income. Home Purchase savers with extremely low incomes have slightly lower graduation rates. (N=193) (N=162) (N=95) *Includes savers who exited in January 2014-May 2015 only
  41. 41. 68 66 69 64 56 64 83 69 81 73 64 71 0 10 20 30 40 50 60 70 80 90 100 Business Two Parent Business Single Parent Business No Children Home Two Parent Home Single Parent Home No Children Education Two Parent Education Single Parent Education No Children (N=282) (N=134) (N=571) (N=403) (N=360) (N=430) (N=1102) (N=876) (N=1532) Two Parent Single Parent No Children Graduation rates are slightly lower for savers in single parent households saving for Business or Home Purchase. (N=364) (N=338) (N=416)
  42. 42. 61 64 69 67 71 0 10 20 30 40 50 60 70 80 90 100 Education Adult Two Parent Education Adult Single Parent Education Adult No Children Education Youth Two Parent Education Youth Single Parent (N=276) (N=236) (N=411) (N=127) (N=124) For education savers, family type does not appear to be strongly related to the likelihood of graduating.
  43. 43. 66 69 63 61 76 83 69 71 0 10 20 30 40 50 60 70 80 90 100 Female Male Business Female Business Male Home Purchase Female Home Purchase Male Education Female Education Male Graduation rates are similar for women and men. Female business savers have slightly higher grad rates than male business savers. (N=632) (N=360) (N=868) (N=383) (N=771) (N=372) (N=2408) (N=1193)
  44. 44. Graduation: Discussion • Who is and is not graduating? • What challenges do savers experience in reaching graduation? • What can support savers in reaching graduation? • What more would you like to know about IDA graduation?
  45. 45. Agenda •Welcome and Context •Reach •Graduation •Financial habits • Budgeting, credit knowledge, savings habits • Savings goals •Evaluation
  46. 46. Financial Habits: Population •Surveys returned from January 2012 to March 2015 •At exit • Graduates n=1185 • Non completers n=388 •One year after follow up • Graduates n=742 • Non completers n=209
  47. 47. Keep emergency fund Know credit score Deposit to savings acct Deposit to retirement acct Use budget 0% 10% 20% 30% 40% 50% 60% 70% 80% 12 months before starting IDA At Exit One Year Follow- Up Graduates report strong improvements in their financial habits. Habits reported at exit are sustained over time for many participants. Some habits are better sustained than others.
  48. 48. 77% 64% 68% 70% 86% 46% 65% 67% 72% 53% 47% 57% 71% 56% 46% 57% 37% 11% 12% 21% Home Education Business Total At exit, many graduates report ‘often’ practicing good financial habits. Use budget Know credit score Keep emergency fund Deposit to savings acct Deposit to retirement acct (n=1109) (n=397) (n=253) (n=383)
  49. 49. 59% 40% 33% 27% Feel more confident interacting with financial services / organizations. Relationships within family are stronger. Social networks include more people with similar financial goals. Family is more involved with community. (n=640; question added in 2013) At exit, most graduates report feeling ‘very much’ more confident interacting with financial services and organizations. Graduates reported other social changes as well.
  50. 50. 0% 10% 20% 30% 40% 50% 60% 70% Use budget Know credit score Keep emergency fund Deposit to savings acct Deposit to retirement acct Graduates Non-completers One year after exit, more graduates report practicing good financial habits ‘often’ than participants who did not complete their IDA. In both groups, a minority report that they make deposits into a savings account 'often'.
  51. 51. 53% 39% One year after exit, significantly more graduates than participants who did not complete felt ‘very much’ more confident interacting with financial services and organizations. Graduates Non-completers
  52. 52. 64% 70% 63% Purchase Goal: Gifts, Trips, Experiences, Things Saving Goal: Emergency Fund, Retirement, Long-Term Savings Asset Goal: Home, Business, Ed One year after their IDA purchase, a majority of graduates had at least one goal for which they were saving.
  53. 53. Savings goals varied somewhat by the type of grad. Business grads were more likely to have an asset-related saving goal. Home purchase grads were more likely to have a long-term savings goal. 0% 20% 40% 60% 80% All grads Home Purchase Education Business Asset Goal: Home, Business, Ed Saving Goal: Emergency Fund, Retirement, Long- Term Savings Purchase Goal: Gifts, Trips, Experiences, Things
  54. 54. Financial Habits: Discussion • What changes have you seen in savers? • What impacts have you seen in your community? • How would you describe the well-being of savers after graduating? • How might this data be used? • What questions are you left with?
  55. 55. Agenda •Welcome and Context •Reach •Graduation •Financial habits •Evaluation • Asset class • Geography • Age • Race and ethnicity • Gender
  56. 56. 47% 47% 41% 40% 34% 28% 34% 30% 38% 19% 24% 34% 17% 17% 18% 33% 36% 32% 2% 6% 4% 7% 7% 7% Non-C Follow Up Survey Non-Completer Survey Non-Completers Grad Follow Up Survey Grad Survey Graduates (N=2536) (n=1185) (n=742) (N=1075) (n=380) (n=209) Home Purchase Education Business Other Education savers, particularly education graduates, are underrepresented among survey respondents.
  57. 57. 49% 43% 42% 53% 50% 51% 25% 20% 18% 24% 22% 19% 19% 23% 26% 14% 17% 19% 5% 11% 11% 8% 7% 8% 2% 2% 4% 1% 4% 3% Non-C Follow Up Survey Non-Completer Survey Non-Completers Grad Follow Up Survey Grad Survey Graduates (N=2533) (n=1106) (n=691) (N=1071) (n=373) (n=183) Metro Valley/ N Coast South Central East Survey respondents are from every region of Oregon.
  58. 58. Survey respondents are generally representative of participants with regard to age. 27% 23% 30% 16% 26% 24% 44% 46% 40% 54% 46% 46% 29% 31% 30% 30% 28% 30% Non-C Follow Up Survey Non-Completer Survey Non-Completers Grad Follow Up Survey Grad Survey Graduates (N=2536) (n=664) (n=545) (N=1074) (n=329) (n=150) <27 years 27-39 years 40+ years
  59. 59. 14.6% 14.4% 14.4% 11.2% 12.1% 13.6% 2.2% 2.6% 2.1% 2.8% 8.6% 6.0% 8.7% 4.9% 5.8% 6.0% 5.5% 2.4% 2.6% 2.8% Non-C Follow Up Survey Non-Completer Survey Non-Completers Grad Follow Up Survey Grad Survey Graduates Multi/ Other Asian Black American Indian/ Alaska Native Native Hawaiian/ Pacific Islander Graduate people of color are slightly underrepresented among survey respondents. 0.6% 0.9% (N=2516) (n=1084) (n=697) (N=1063) (n=365) (n=185)
  60. 60. Savers of Hispanic ethnicity are underrepresented among survey respondents. 19% 19% 24% 10% 13% 17% 81% 81% 76% 90% 87% 83% Non-C Follow Up Survey Non-Completer Survey Non-Completers Grad Follow Up Survey Grad Survey Graduates Hispanic Non Hispanic (N=2519) (n=1116) (n=709) (N=1061) (n=385) (n=183)
  61. 61. Women are slightly more likely than men to respond to the surveys. 76% 72% 65% 73% 69% 67% 24% 27% 35% 26% 31% 33% Non-C Follow Up Survey Non-Completer Survey Non-Completers Grad Follow Up Survey Grad Survey Graduates (N=2532) (n=1129) (n=719) (N=1071) (n=386) (n=197) Women Men
  62. 62. Evaluation: Discussion • How might we expand the voices that are informing the evaluation? • What questions do you have about the IDA’s reach, activities or outcomes that were not addressed today?
  63. 63. Takeaways • What insights do we come away with? • What can we do with these findings or conclusions? • Who do we need to share them with?
  64. 64. Next steps • Slides available— OregonIDAInitiative.org/roadshow • Debriefing • Additional analysis • Align outcomes to Initiative goals and activities • Identify evaluation questions and indicators • Align and streamline data collection methods
  65. 65. Thank you Amy Stuczynski astuczynski@neighborhoodpartnerships.org 503-226-3001 x101

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