Oklahoma Native Assets Coalition, Inc.

Creating and Sharing Strategies for Asset Building in Native Communities

aka N/A   |   Oklahoma City, OK   |  http://oknativeassets.org

Mission

The mission of the Oklahoma Native Assets Coalition (ONAC) is to build and support a network of Native people who are dedicated to increasing self-sufficiency and prosperity in their communities through the establishment of integrated culturally relevant financial education and financial coaching initiatives, as well as seed funded account programs, down payment assistance, free tax preparation, expanded banking access, and other asset-building strategies. ONAC is an intermediary funder, grassroots network coordinator, and also a direct service provider that works with Native families to build their assets.

Notes from the nonprofit

ONAC accepts gifts of stock or securities into our endowment account. For more information, please contact Christy Finsel at 405-401-7873.

Ruling year info

2014

Principal Officer

Mrs. Christy Finsel

Main address

P.O. Box 21804

Oklahoma City, OK 73156 USA

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Formerly known as

N/A

EIN

46-5103221

NTEE code info

Community Coalitions (S21)

Rural (S32)

Fund Raising and/or Fund Distribution (W12)

IRS filing requirement

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

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Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

Historically, assets have been stripped (and are still being stripped) in Native communities. Tribal citizens need integrated approaches to building their assets over their lifetime. ONAC is working to both build capacity of tribes and Native-led nonprofits to provide asset building programs and directly administering asset building programs that benefit tribal citizens. We are addressing numerous racial and gender disparities that impact Native communities. See reports on our website for related data (www.oknativeassets.org).

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?

ONAC Grants Program

ONAC funds grants for constituents that need flexible sources of funding to start or enhance their asset building programs. With the higher poverty rates of American Indians in the state, the related need for asset building programs for tribal members, lower national philanthropic giving in Indian Country, and the fact that tribes, as sovereign nations, often do not have 501(c)(3) organizations to apply for certain grants, ONAC, as a nonprofit, has started acting as an intermediary coalition to help fund tribal asset building programs that would otherwise not be able to access needed funding. ONAC has funded fifty-one mini-grants (total of $335,900) since 2014. In terms of impact, the final reports and summaries (found in our newsletters) for the completed projects are available on the ONAC website, at www.oknativeassets.org, under the Our Work section (by year). ONAC has funded grantees in Oklahoma, Minnesota, Maine, Montana, Alaska, South Dakota, Arizona, and North Carolina.

Population(s) Served

ONAC is funding Children's Savings Accounts (CSAs) for Native youth to help their families start saving for their college costs. These accounts help create a pipeline to college and help the youth to think more positively about their future. For each CSA, ONAC provides the $100 minimum opening deposit. According to the American Indian College Fund, "only 14% of American Indian students age 25 or older have a college degree-115% below the national level." As of September 2021, in total, ONAC has funded 1,064 CSAs (1,017 opened and funded by ONAC and tribal partners and 47 more CSAs funded by ONAC through recent grants made to three grantees). 87% of the 1,062 account holders are from families living at 200% or below the federal poverty level and 86% of the account owners are mothers and grandmothers raising grandchildren.

Population(s) Served
Indigenous peoples

ONAC supports the professional development of Native asset building practitioners by offering an annual conference for constituents; training and technical assistance for asset building program development; webinars/ peer learning calls; opportunities to speak at state and national conferences about asset building; asset building models, research, and other related resources; opportunities to bring more Native voices to the table through participation in asset building working groups; administration of the national Native VITA Network; promotion of Bank On certified accounts through the first Native-led Bank On Coalition; creating resources for how those teaching Native financial education can take their classes online during the COVID-19 pandemic; generating resources and providing data related to Native women entrepreneurs; and offering resources related to fraud and scam prevention.

Population(s) Served
Indigenous peoples

ONAC funds family emergency savings accounts to provide a buffer in times of income fluctuation, changes in employment, natural disasters, a home repair emergency, increases in student school expenses, etc. In total, from May 2015 to December 2021, ONAC has secured funding for 678 ESAs, funded 676 ESAs, and has plans to fund the remaining 2 ESAs by December 2021.

Population(s) Served
Indigenous peoples

ONAC has funded emergency cash assistance grants ($500 per family) for 1070 Native families experiencing financial distress during the COVID-19 pandemic. ONAC has worked with a list of tribal and Native-led nonprofit partners for referrals for these funds.

Population(s) Served
Indigenous peoples

ONAC is providing these free one-on-one services, by appointment, via phone and teleconference to Native families.

Population(s) Served
Indigenous peoples

ONAC will provide down payment assistance to 125 families over a 48-month period beginning in 2021.

Population(s) Served
Indigenous peoples
Indigenous peoples

Where we work

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.

The Oklahoma Native Assets Coalition (ONAC) is committed to increasing the number of sustainable Native asset building programs and to support those administering such programs.

To accomplish our mission of building and supporting a network of Native people who are dedicated to increasing self-sufficiency and prosperity in their communities through the establishment of comprehensive financial education initiatives, Individual Development Accounts, and other asset-building strategies, our goals have been to:

1) Engage tribal leaders and state and federal policy makers in expanding asset-building opportunities for Native people through policy changes;
2) Create an information conduit for tribes on financial education, IDAs, EITC, CDFIs, and other asset-building strategies and opportunities; and
3) Develop local leadership, expand membership, and work to make the coalition self-sustaining.

To meet our coalition's goals, ONAC has been providing: free technical assistance to our constituents as they design and implement various asset building programs that have a good cultural fit; networking opportunities through our conferences and roundtables; offering financial education train-the-trainers; grant funding for constituents (tribes and Native nonprofits) that need flexible sources of funding to launch or sustain their asset building programs; administrative policy guidance advocacy to try to clear barriers so that constituents can use federal sources of funds for their asset building programs; administration of Children's Savings Account and emergency savings account programs; emergency cash assistance; financial coaching, down payment assistance, administering a national Native VITA network; promoting Bank On certified accounts; and promotion of what is working well with these programs at a state and national level, etc.

ONAC is a Native-led nonprofit. The consultant, Christy Finsel, who is a citizen of the Osage Nation of Oklahoma and our Executive Director, has expertise in providing Native asset building training, technical assistance, and asset building program design and administration. Together, we have dynamic leadership that helps us provide the needed skill set to administer and grow a Native asset building coalition.

ONAC has been working to build the coalition since 2001. Now, we are positioned to administer larger-scale pilot projects; more grants with our engaged grantmaking system (we offer technical assistance, opportunities for grantees to speak about their work, networking opportunities, and monitoring of grantee progress); enhanced trainings and technical assistance; administrative policy advocacy work; larger Children's Savings Account and emergency savings account programs; emergency cash assistance, financial coaching, down payment assistance, etc.

ONAC has been working to build relationships with a variety of constituents and supporters as we know that for Native asset building projects to be successful we need a number of partnerships in place. Thus, we engage with Tribal leaders, Tribal program directors, Native nonprofits, Native asset building practitioners and researchers, state representatives, students, cultural advisors, policy organizations, funders, financial institutions and financial institution regulatory bodies, national asset building organizations, inter-tribal organizations, tribal colleges, and representatives from the Office of the Special Trustee for American Indians, FDIC, FTC, IRS, HUD, SBA, and Administration for Children and Families, etc. Over the years, we have built our distribution list to 1,300 constituents and friends of our coalition. Our communication strategy includes regular emails to those on our distribution list about various asset building opportunities and resources as well as a dynamic website.

ONAC has strategic, fundraising, communications, and succession plans in place.

In addition to the information provided earlier in this section, ONAC has information to share about the following progress of our coalition:

ONAC recognizes that there is need for flexible funding for Native asset-building projects in the state. Since 2014, ONAC has granted 42 grants totaling $253,400. There is more interest in funding for grants than ONAC can currently fulfill.

Specifically related to CSAs, since 2012, ONAC has been working with twenty-two significant partners (tribes and Native nonprofits) to open accounts. We have opened 998 accounts to date, with more account opening events scheduled. ONAC is currently administering the largest Native CSA program in the country. Each account will be opened with $100.00 in seed funding and held either through a 529 college savings plan or at a financial institution of the ONAC constituents/program administrator partner's choice. Our interim CSA report is available on our website, under the Our Work section, and then under the ONAC's Programs page.

ONAC has funded 539 emergency savings accounts and will fund 65 more by 2021, with support from the Administration for Native Americans.

ONAC has restarted the national Native VITA network to provide resources and networking opportunities to Native VITA site coordinators.

ONAC is promoting Bank On certified accounts and has launched several tribal integrations to help tribal citizens get banked.

ONAC has provided 489 families with emergency cash assistance since May 2020. We are also offering free financial coaching to AI/AN families.

With support from various funders (with larger grants and donations from the Ford Foundation, the W.K. Kellogg Foundation, Cities for Financial Empowerment Fund, the FHLBank of Topeka, Decolonizing Wealth Project, JPMorgan Chase, the Osage Nation Foundation, 1:1 Fund, the Chickasaw Nation, the Wells Fargo Foundation, and First Nations Development Institute), as well as generous support from individual donors and various conference and training sponsors, ONAC has raised $3,631,655.51 in funding since 2014 to support our programs. ONAC is working to continue to expand our programs so that we may reach more Native families to help them build their assets.

Financials

Oklahoma Native Assets Coalition, Inc.
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Operations

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

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Connect with nonprofit leaders

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  • Analyze a variety of pre-calculated financial metrics
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  • Compare nonprofit financials to similar organizations

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Oklahoma Native Assets Coalition, Inc.

Board of directors
as of 10/15/2021
SOURCE: Self-reported by organization
Board co-chair

Mrs. Christy Finsel

Oklahoma Native Assets Coalition Inc.

Term: 2014 - 2023


Board co-chair

Mrs. Anna Knight

Cherokee Nation

Term: 2014 - 2023

Anna Knight

Cherokee Nation Commerce Group

Christy Finsel

ONAC

Cynthia Logsdon

Citizen Potawatomi CDC

Christy Estes

HQ Finance, Chickasaw Nation

Kelly Brame

Career Development Program, Choctaw Nation

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? No
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No

Organizational demographics

SOURCE: Self-reported; last updated 02/11/2021

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
Native American/American Indian/Indigenous
Gender identity
Female

Race & ethnicity

Gender identity

 

Sexual orientation

No data

Disability

No data