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IDA Data RoadshowNeighborhood Partnerships
October 2015
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
Agenda
•Welcome and Context
•Reach
•Graduation
•Financial habits
•Evaluation
IDAsInvesting in the personal and financial growth of individuals to build strong communities throughout Oregon
(Oregon Housing Council, 2013)
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
Funding
•Contributions to the Initiative qualify for an Oregon state tax credit
•Funds managed on a centralized basis, overseen by an investment committee
Agenda•Welcome and Context• Reach
• Asset class• Geography• Age• Race and ethnicity• Educational attainment• Income• Family type• Gender
•Graduation• Financial habits• Evaluation
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
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.
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
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%
11%
27%
27%
35%
43%
27%
19%
Oregoniansbelow 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
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
HomePurchase
Education
All
Age 12-17 Age 18-26 Age 27-39 Age 40-54 Age 55+
(N=4953)
(N=1933)
(N=1527)
(N=1145)
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
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)
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)
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
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)
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
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/OtherAsian
Black
American Indian/Alaska NativeNative Hawaiian/Pacific Islander
White
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
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)
91%
10%
6%
24%
3%
42% 8% 15%
EducationYouth
EducationAdults
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)
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)
11%
4%
20%
40%
30%
27%
31%
25%
8%
4%
EducationYouth
EducationAdults
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)
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
HomePurchase
Education
All(N=4975)
(N=1933)
(N=1541)
(N=1147)
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%
EducationYouth
EducationAdults(N=1418)
(N=512)
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)
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?
Agenda•Welcome and Context
• Reach
•Graduation• Exit reasons• Age• Race and ethnicity• Educational attainment• Income• Family type• Gender
• Financial habits
• Evaluation
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
Graduated
Voluntarily withdrew
Violated rulesCould not meet requirementsUnable to make depositsMoved 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.
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.
‘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)
7072
6861
5259
6367
6780
8381
6571
7369
61
0 10 20 30 40 50 60 70 80 90 100
All Age 12-17
All Age 18-26
All Age 27-39All Age 40-54
All Age 55+
Business Age 18-26Business Age 27-39Business Age 40-54
Home Age 27-39
Education Age 18-26Education Age 27-39Education Age 40-54
Business Age 55+
Home Age 18-26
Home Age 40-54Home 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)
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)
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 HispanicEducation Non Hispanic
(N=695)
(N=2885)
(N=395)
(N=846)
(N=176)
(N=957)
8571
59
6957
56
8774
72
8068
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 CollegeBusiness 2-yr Degree +
Home HS or less
Home Some CollegeHome 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)
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)
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% AMI30%-50% AMI50%-80% AMI
Business 1%-30% AMIBusiness 30%-50% AMIBusiness 50%-80% AMI
Home 1%-30% AMIHome 30%-50% AMIHome 50%-80% AMI
Education 1%-30% AMI
Education 30%-50% AMIEducation 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
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 ParentBusiness Single Parent
Business No Children
Home Two Parent
Home Single ParentHome No Children
Education Two ParentEducation Single Parent
Education No Children
(N=282)
(N=134)
(N=571)
(N=403)
(N=360)
(N=430)
(N=1102)
(N=876)
(N=1532)
Two ParentSingle ParentNo Children
Graduation rates are slightly lower for savers in single parent households saving for Business or Home Purchase.
(N=364)
(N=338)
(N=416)
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.
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)
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?
Agenda
•Welcome and Context
•Reach
•Graduation
•Financial habits• Budgeting, credit
knowledge, savings habits • Savings goals
•Evaluation
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
Keep emergency fundKnow credit score
Deposit to savings acct
Deposit to retirement acct
Use budget
0%
10%
20%
30%
40%
50%
60%
70%
80%
12 months beforestarting 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.
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 budgetKnow credit score
Keep emergency fund
Deposit to savings acct
Deposit to retirement acct
(n=1109)
(n=397)
(n=253)
(n=383)
59%
40%33%
27%
Feel more confidentinteracting with
financial services /organizations.
Relationships withinfamily are stronger.
Social networksinclude more peoplewith similar financial
goals.
Family is moreinvolved withcommunity.
(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.
0%
10%
20%
30%
40%
50%
60%
70%
Use budget Know creditscore
Keepemergency
fund
Deposit tosavings acct
Deposit toretirement 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'.
53%
39%
One year after exit, significantly more graduatesthan participants who did not complete felt ‘very much’ more confident interacting with financial services and organizations.
Graduates Non-completers
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.
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: EmergencyFund, Retirement, Long-Term Savings
Purchase Goal: Gifts,Trips, Experiences,Things
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?
Agenda
•Welcome and Context
•Reach
•Graduation
•Financial habits
•Evaluation• Asset class
• Geography
• Age
• Race and ethnicity
• Gender
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.
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.
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
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)
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)
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
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?
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?
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
