Power Station

Bob Friedman has been at the forefront of building wealth in low-income communities for decades. He founded Corporation for Enterprise Development in 1979, (recently renamed Prosperity Now) to develop, test and implement the strategies needed to move low-income people into the economic mainstream. These strategies, now proven to be highly effective, have and continue to be the foundation for Prosperity Now's public policy advocacy at the local, state and federal levels.  

Bob talks to Power Station about his new book, A Few Thousand Dollars, which, through stories, illustrations and well-tested theories, provides a template for building wealth and creating a more equitable America. Despite our nation's wealth inequality and racial wealth gap, Bob's hopefulness is unfaltering. He agrees with Sen. Cory Booker, who wrote the book's afterword, that we know how to address the challenge. The question is whether we have the will. 

It takes determined organizations, individuals and elected officials to invest in and bring strategies, such as Matched Savings Accounts to life and to scale. The stories and data are irrefutable. The next steps rest with us.

A Few Thousand Dollars: Sparking Prosperity for Everyone, was published by The New Press, a nonprofit, public interest publisher.

Josh Hoyt explains that the way you make democracy work is by organizing the people who are left out. This is the proposition that guides his leadership of the National Partnership for New Americans, a multi-ethnic and multi-racial organization comprised of the nation's largest immigrant-serving coalitions, 37 nonprofits in 31 states. These organizations serve both traditional hubs of immigration, such as California and New York, and emerging communities in Minnesota, Alabama, Idaho and Nebraska. Those they serve, Latinos, Asians, and Africans, have been marginalized by a lack of public resources, corrosive rhetoric and the politics of fear. Their collective voices are heard at the National Immigrant Integration Conference (NIIC). A hallmark of the event is the New American Dreams Platform, whose plank includes Full Citizenship For All and America As A Refuge. As Josh says, an organizer listens and brings people together.

In this episode of Power Station, Josh Hoyt explains that the way you make democracy work is by organizing the people who are left out. This is the proposition that guides his leadership of the National Partnership for New Americans, a multi-ethnic and multi-racial organization comprised of the nation’s largest immigrant-serving coalitions, 37 nonprofits in 31 states. These immigrant led organizations serve both traditional hubs of immigration, such as California and New York, and emerging communities in Minnesota, Alabama, Idaho and Nebraska. Those they serve, Latinos, Asians, and Africans, have been marginalized by a lack of public resources, corrosive rhetoric and the politics of fear. But they are powerful organizations that, through the collective power the NPNA, are shaping the immigrant integration sector. Their collective voices are heard through the National Immigrant Integration Conference (NIIC), a dynamic and singular gathering of those who serve their communities every day and advocate for policy reforms at the city, state and federal levels. A hallmark of the NIIC is the New American Dreams Platform, whose planks includes Full Citizenship For All and America As A Refuge. As Josh says, an organizer listens and brings people together. In this case, coming together is changing the face of America and the composition of Congress. 

Tanya Fiddler (Cheyenne River Sioux), Executive Director of the Native CDFI Network, is a self-proclaimed wayuiyeska, a Lakota word for translator. In her interactions with policy makers, funders and fellow nonprofit leaders, she translates the experience of Native Americans to those of us who do not fully know it. She \explains that, according to Native spirituality and culture, the concept of asset building is based in the idea that, Everything is for us, but we don't have to own it." The Network's 74 member organizations are certified and emerging CDFIs (Community Development Financial Institutions), Native-run nonprofits that invest in their community's economic future by making home ownership and small business development possible. And financial education is becoming enshrined in early childhood education. Tanya talks about navigating multiple layers of government - tribal, state and federal - to make the needs and capacities of over 500 federally recognized tribes understood. And she relates the ongoing challenge of inclusion at nonprofit tables as well.

Tanya Fiddler (Cheyenne River Sioux), Executive Director of the Native CDFI Network, talks to Power Station about being a self-proclaimed wayuiyeska, a Lakota word for translator. In all of her interactions with policy makers, funders and fellow nonprofit leaders, she translates the experience of Native Americans to those of us who do not fully know it. She starts by explaining that, according to Native spirituality and culture, the concept of asset building is based in the idea that, Everything is for us, but we don't have to own it." As Tonya explains, investing capital in Indian country is not just about addressing poverty, it is about seizing opportunity. 

The Network's 74 member organizations are certified and emerging CDFIs (Community Development Financial Institutions), Native run nonprofits that are investing in their community's economic future by making home ownership and small business development possible. And financial education is becoming enshrined in early childhood education. 

Tanya talks about navigating multiple layers of government - tribal, state and federal - to make the needs and capacities of over 500 federally recognized tribes understood. And she relates the ongoing challenge of inclusion at nonprofit tables as well. Listen, learn, engage.

How do you create a more just financial marketplace? We explore this question with Diane Standaert, Executive Vice President, Center for Responsible Lending (CRL), a nonprofit dedicated to economic justice and the elimination of predatory lending. As Diane explains, the problem is rooted in racially exclusionary and discriminatory policy making, exacerbated by the 2008 mortgage crisis. Payday lenders prosper by pulling poor people in need of small dollar loans into a debt trap. CRL conducts empirical research to demonstrate the scope of the problem to state and national policymakers. It partners with local nonprofits, the faith community and veteran's groups to advocate for solutions, from ballot initiatives to state-based legislation. And it advocates on a national level for the embattled Consumer Financial Protection Bureau, a champion of consumer rights. Check out the vital work led by CRL and Self-Help, it's influential and innovative lending partner.

How do you create a more just financial marketplace? We explore this question on Power Station with Diane Standaert, Executive Vice President of the Center for Responsible Lending (CRL), a nonprofit that builds financial wealth through the elimination of predatory lending practices. As Diane explains, it starts with a system rooted in a racially exclusionary and discriminatory history, exacerbated by the 2008 mortgage crisis, in which over one trillion dollars was lost in communities of color. This is the environment in which payday lenders operate and prosper by pulling poor people in need of small dollar loans into a debt trap. CRL conducts empirical research to demonstrate the scope of the problem to state and national level policymakers. It partners with community based nonprofits, the faith community and veteran's groups to advocate for solutions, from ballot initiatives to state-based legislation. And it advocates on a national level for the embattled Consumer Financial Protection Bureau, a champion of consumer rights. Diane remains a relentless and positive force for a fair financial marketplace. Check out the vital work led by CRL and Self-Help, it's influential and innovative lending partner.

If you want to know DC as more than the nation's capitol, listen to this conversation with Ed Lazere. As executive director of the DC Fiscal Policy Institute, he has mastered the formula for influencing the City's legislative and budget making process. He and his team of nine use research and data analysis to shape an advocacy agenda around the issues that are most crucial to low-income DC residents: affordable housing, quality schools, economic development, jobs, training and health care. On this episode, Ed breaks down Initiative 77, a DC ballot measure about tipped wage earners that took an unexpected turn. DCFPI is a force to be reckoned with and we are fortunate to have Ed's insights here.

If you want to know DC as more than the nation's capitol, check out Power Station's conversation with Ed Lazere. Ed is a champion of racial and economic equity for DC residents and neighborhoods. As executive director of the DC Fiscal Policy Institute, he has mastered the formula for influencing the City's legislative and budget making process. He and his team of nine, use research and data analysis to shape their advocacy around the issues that are most  crucial to low-income DC residents: affordable housing, quality schools, economic development, jobs, training and health care. Ed talks to Power Station about navigating relationships with DC's city council members, working in collaboration with nonprofit partners, and engaging DC residents in speaking out about the issues that affect their daily lives.

Ed tells all about Initiative 77, a recent DC ballot measure about tipped wage earners, with an unexpected outcome. It is just one example of why having a voice is the city's policymaking process is essential. Whether the conversation is about the Earned Income Tax Credit or removing time limits for Temporary Assistance to Needy Families, DCFPI is a force to be reckoned with. 

John Holdsclaw, Senior Vice President for Corporate Affairs, National Cooperative Bank, refers to himself as an "accidental banker." In this episode, we discuss his evolution from community development practitioner to public policy advocate to a champion for the financing of affordable housing and worker-owned cooperatives. At Capitol Impact Partners, John became a trusted voice on Capitol Hill, known for his support for Community Development Financial Institutions (CDFIs), which provide capital grants and equity investments in affordable housing and small businesses. At NCB, John is an unstoppable force for investments in high-quality nonprofit CDFIs. John explains how CDFIs fill in where traditional financial services are lacking and our nation's racial wealth gap seems intractable. John talks about what's next in the community development field and how, as his father counseled him, to always be prepared with "facts and stats."