faq

 FREQUENTLY ASKED QUESTIONS

Q: Is the ABC a non-profit organization?

No. When the Coalition was formed the groups involved made a deliberate decision not to create a new 501(c)3 organization.

Q: Can I give a tax-free donation to the ABC?

Yes. You can do this by giving a gift or grant to any non-profit member of the Coalition and designating that it be used for specific materials, activities or other direct costs related to the Coalition.

Q: Why was the Coalition formed?

It was formed in response to a research study that showed rates of poverty, asset poverty, poor credit, and lack of savings worse in our area that in many other places in the state and nation. [2012 MEOP study by the Center for Enterprise Development (CFED), Washington DC.]

Q: Is the ABC part of a national network?

Yes and No. We are solely a local creation, however we applied and have been approved as a Lead Local Asset-Building Organization within the national Assets & Opportunity Network hosted by CFED.

Q: What does the Coalition hope to achieve?

We hope that our conscious and sustained collective awareness about and connected activities to specifically address asset poverty will be more effective than the lone activities of each member.

Q: What is asset poverty?

When a family does not have enough resources set aside to meet, in the absence of income, their basic needs for three months, they are asset poor.

Q: What is the income cutoff level for asset poverty?

There is none, really. A family can have a generous income, but if they have no savings, no home equity, and no other assets, they are living in asset poverty.

Q: Who can join the Coalition?

Any individual, business, or nonprofit whose interests and activities are in keeping with the mission and vision of the Coalition.

Q: Is the Coalition an advocacy organization?

We do not lobby for legislative change. We do raise awareness of public policy and legal issues that may enhance or threaten the ability of low- income North Carolinians to build and protect personal assets.

Q: How are the activities of the Coalition funded?

The Coalition is a voluntary collaboration. Its members contribute time, expertise, office supplies, and so on. Members pay a small fee which helps offset some costs. We have also received financial and in-kind support from foundations, banks, and others in the community.

Q: What is the mailing address?

The Coalition does not maintain office space. Contact one of the lead organizations using the contact information below.

Q: I have more questions. Who do I contact?

Jennifer Newsome, Asset Building Coalition Program Coordinator
336.725.3501
Jennifer@Financialpaths.org 

Or contact the co-leading organizations, Financial Pathways of the Piedmont (Peter Laroche, President and CEO – 336.896.1191) and Experiment in Self Reliance (Twana Wellman Roebuck, Executive Director – 336.722.9400)