RAISE TEXAS

Building Financial Success

Austin, TX   |  www.raisetexas.org

Mission

RAISE Texas advances equitable policies and programs that foster financial success and economic mobility for low and moderate income Texans.

Ruling year info

2008

Executive Director

Ms. Elizabeth Colvin

Main address

PO Box 49443

Austin, TX 78765 USA

Show more addresses

Formerly known as

Texas Asset Building Coalition

EIN

26-2087882

NTEE code info

Economic Development (S30)

Alliance/Advocacy Organizations (R01)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Sign in or create an account to view Form(s) 990 for 2019, 2018 and 2017.
Register now

Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

Despite working hard, often with multiple jobs, too many Texans do not have the financial resources necessary to cover unexpected expenses, much less opportunities to build wealth and achieve economic mobility. RAISE Texas is working to change this by expanding access to savings and credit-building opportunities and advocating for programs and policies that support financial stability and wealth building for low and moderate income Texans.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Support and Expand Financial Coaching in Texas

RAISE Texas launched the Statewide Financial Coaching Hub to standardize and improve training for financial coaches, provide continuing education and increase access to financial coaches. A proven model for building financial success, financial coaching is a client-driven process in which individuals and families work to reach their financial goals.

Population(s) Served
Adults
Low-income people
Working poor

High-cost small dollar loans, such as payday and auto-title loans, trap too many Texans in cycle of high cost debt. We want Texans to have access to better products at affordable rates. For over a decade, RAISE Texas has been supporting the growth of better small dollar loan products for consumers. This has included extensive work with employer-based loans and Community Loan Centers.

Population(s) Served
Adults
Social and economic status

While it is true that Texas led the nation in job creation during the 21st Century, it’s also true that the Texas economy relies on a larger share of lower-wage jobs, higher rates of income and asset inequality, and lower rates of financial wellness for our residents than most other states.

In 2017, RAISE Texas released a report about the benefits of implementing financial wellness programs in the workplace. RAISE Texas continues to work with employers and local organizations to expand workplace access to non-predatory small dollar consumer loans, savings programs, financial coaching and other services that support financial wellness.

Population(s) Served
Adults

Children Savings Accounts for College encourage families to open a college savings account to pay for their child’s future post-secondary educational expenses. RAISE Texas is currently providing technical assistance on Children's Savings Accounts in several locations in Texas.

Population(s) Served
Children and youth
Families

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of people trained

This metric is no longer tracked.
Totals By Year
Population(s) Served

Ethnic and racial groups, Low-income people, Working poor, Parents, Adults

Related Program

Support and Expand Financial Coaching in Texas

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Number of financial coaches trained with support from the Statewide Texas Financial Coaching Hub, launched in 2019.

Number of organizational partners

This metric is no longer tracked.
Totals By Year
Population(s) Served

Adults, Ethnic and racial groups, Low-income people, Working poor, Parents

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Number of participants attending course/session/workshop

This metric is no longer tracked.
Totals By Year
Population(s) Served

Work status and occupations, Social and economic status, Adults

Related Program

Support and Expand Financial Coaching in Texas

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

Continuing education webinars and sessions specific to COVID issues, designed for financial coaches. Hosted by the newly launched Statewide Financial Coaching Hub. More to come in 2021!

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Programs aimed at building financially healthy families must address the systems that keep people from getting ahead, along with helping people successfully navigate existing systems. RAISE Texas supports programs and policies that help families save for emergencies in the near-term, as well as medium-term (vacation, appliances) and long-term goals (home ownership, retirement, post-secondary education, etc.). We recognize that the barriers to saving are complex and largely shaped by forces outside an individual’s financial control. We support solutions that help families build savings and achieve financial stability while addressing the many systems and barriers that work against them.

Our strategies include: advocating for consumer protections and policies that promote savings and financial health for low and moderate income families; providing resources and technical assistance for community-based organizations working to increase the financial health of their clients and communities; testing and evaluating new financial products and services; and expanding access to high-quality financial coaching in Texas.

Founded in 2007, RAISE Texas has extensive experience working with community-based organizations that provide financial and asset-building services, including matched savings accounts, free tax preparation, health insurance enrollment, healthcare navigation and alternatives to predatory loans. We benefit from a strong Board of Directors with deep expertise in financial services for low to moderate income families. Our statewide work is guided by a Community Leadership Team, comprised of community leaders from organizations all over Texas. Our statewide coalition represents a broad network of private, public and nonprofit organizations that support our mission.

Financial Coaching:
RAISE Texas is improving the quality of financial coaching in Texas through the Statewide Financial Coaching Hub. In 2020, the Hub was key to helping Texas financial coaches pivot to virtual services and connect clients to new covid-related resources. Going forward, the Hub is expanding high-quality financial coaching services by providing affordable regional trainings, ongoing continuing education and technical support services for Texas financial coaches.

Small Dollar Consumer Loans:
For over a decade, RAISE Texas has supported the growth of better short-term loan products and sought regulation of high cost payday and auto-title loans. This included establishing criteria for small dollar loan products, fintech models and savings platforms that will benefit Texans and support their financial health.

Prize-Linked Savings:
During the 2017 Texas legislative session, RAISE Texas was a key partner in the passage of legislation and a constitutional amendment allowing credit unions and banks to offer prize-linked savings. Save to Win is one of the prize-linked savings programs now available in Texas. For next steps, we are working to expand the number of participating credit unions and credit union members.

Children's Savings Accounts (CSA) for College:
Based on lessons learned from previous pilots and rigorous research into financial vehicles and CSA models, a new Dollars for College Program launched in two school districts in the Dallas area in 2019. Using the my529 account platform and different incentives, the program is successfully helping families open college savings accounts. For next steps, we continue to provide guidance and technical assistance to the Dallas program and are working on ways to make that model sustainable and replicable.

Tax Time Savings:
From 2011 to 2015, RAISE Texas and Every Texan partnered to develop and fund the Tax-Time Savings Project, which tested different incentives to encourage Texas VITA filers to save a portion of their tax refund in either a savings bond or a matched savings account. Through this project, we identified the challenges and best practices in getting VITA sites to promote savings at tax time. These learnings are still applicable today and many local VITA sites continue to integrate tax-time savings into their VITA work.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We demonstrated a willingness to learn more by reviewing resources about feedback practice.
done We shared information about our current feedback practices.
  • How is your organization collecting feedback from the people you serve?

    Electronic surveys (by email, tablet, etc.), Paper surveys, Focus groups or interviews (by phone or in person), Case management notes, Community meetings/Town halls,

  • How is your organization using feedback from the people you serve?

    To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To identify where we are less inclusive or equitable across demographic groups, To strengthen relationships with the people we serve,

  • With whom is the organization sharing feedback?

    The people we serve, Our staff, Our board, Our funders, Our community partners,

  • What challenges does the organization face when collecting feedback?

Financials

RAISE TEXAS
lock

Unlock financial insights by subscribing to our monthly plan.

Subscribe

Unlock nonprofit financial insights that will help you make more informed decisions. Try our monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights?
Learn more about GuideStar Pro.

Operations

The people, governance practices, and partners that make the organization tick.

lock

Connect with nonprofit leaders

Subscribe

Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

lock

Connect with nonprofit leaders

Subscribe

Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

RAISE TEXAS

Board of directors
as of 2/12/2021
SOURCE: Self-reported by organization
Board chair

Mr. Tim Morstad

AARP Texas

Term: 2012 - 2021

Tim Morstad

AARP Texas

Roy Lopez

Federal Reserve Bank of Dallas

Ann Baddour

Texas Appleseed

Julian Huerta

Foundation Communities

Annika Little

Asset Funders Network

Phyllis Young

McGuire Woods LLP

Yvette Ruiz

JPMorgan Chase & Co

Shari Flynn

Lubbock Housing Finance Corporation

Jennifer Wilson

Texas Tech University

Levar Martin

NALCAB

Adrianna Cuellar

United Ways of Texas

Teresa Montes

Frost Bank

Vivian Ong

New York Life

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes

Organizational demographics

SOURCE: Self-reported; last updated 02/04/2021

Who works and leads organizations that serve our diverse communities? GuideStar partnered on this section with CHANGE Philanthropy and Equity in the Center.

Leadership

The organization's leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Female, Not transgender (cisgender)

Race & ethnicity

Gender identity

 

Sexual orientation

No data

Disability

No data