News

June 20, 2023

The Oklahoma Native Assets Coalition, Inc. (ONAC), a national Native-led nonprofit, announces that it awarded $216,500 in invitation-only sub-grants to twenty Native Volunteer Income Tax Assistance sites during this recently-concluded tax season to assist them in providing Native-led tax preparation services for their tribal communities.  

The twenty grant awards represent the largest number of grant awards made in the country, during this tax season, by one grantor in support of Native VITA sites. 

As a national intermediary grant funder, ONAC was able to make these awards through the support of the Wells Fargo Foundation with additional funding from the Bank of America Charitable Foundation. To support this VITA initiative and ONAC’s other programs, ONAC also received general operating resources from The Kresge Foundation, the Target Foundation, and JPMorgan Chase & Co. ONAC is grateful for this generous support and believes that funding Native VITA programs is a crucial piece of its efforts to provide integrated asset-building services in Native communities. 

These grant awards are part of ONAC’s ongoing coordination of the only nationally-focused Native Earned Income Tax Credit (EITC)/Volunteer Income Tax Assistance (VITA) Network. ONAC organizes this Network to provide resources and peer learning exchanges among Native VITA practitioners and related supporters throughout the country. As part of ONAC’s coordination of the Network, ONAC serves on the national Taxpayer Opportunity Network (TON) Steering Committee and is in regular communication with IRS staff and other national entities working on EITC outreach and VITA. For those interested in joining the ONAC Native EITC/VITA Network, with coordination led by Patsy Schramm (Cherokee Nation) of ONAC, please complete the following online registration form: https://www.surveymonkey.com/r/ONACVITA.

ONAC congratulates the following ONAC 2023 Native VITA mini-grant awardees on a successful tax season: 

• Cherokee Nation Commerce Services (Tahlequah, Oklahoma)
  
• Community Development Financial Institution of the Tohono O’odham Nation (Sells, Arizona)
  
• Fallon Paiute Shoshone Tribe (Fallon, Nevada)
  
• Four Bands Community Fund, Inc. (Eagle Butte, South Dakota)
  
• Four Directions Development Corporation (Orono, Maine)
  
• Lakota Funds (Kyle, South Dakota)
  
• Mashantucket Pequot Tribal Nation (Mashantucket, Connecticut)
  
• People’s Partner for Community Development (Lame Deer, Montana)
  
• Pueblo of Acoma Housing Authority (Pueblo of Acoma, New Mexico)
  
• Sitting Bull College (Fort Yates, North Dakota, and McLaughlin and Mobridge, South Dakota)
  
• Shoshone-Bannock Tribes of the Fort Hall Indian Reservation (Fort Hall, Idaho)
  
• Stockbridge-Munsee Community Band of Mohican Indians (Bowler, Wisconsin)
  
• The Chickasaw Nation (Ada, Oklahoma)
  
• The Menominee Indian Tribe of Wisconsin (Keshena, Wisconsin)
  
• The Muscogee Nation (Okmulgee, Oklahoma)
  
• Tlingit Haida Regional Housing Authority (Juneau, Alaska)
  
• Warm Springs Community Action Team (Warm Springs, Oregon)
  
• White Earth Investment Initiative (Ogema, Minnesota)
  
• White Mountain Apache Housing Authority (Whiteriver, Arizona)
  
• Ysleta del Sur Pueblo (El Paso, Texas)
  

Since 2014, ONAC has awarded a total of eighty-five grants ($663,900) total) to tribes and Native nonprofits in support of their asset-building programs. Grant awards have been made in Alaska, Arizona, Connecticut, Idaho, Maine, Minnesota, Montana, Nevada, New Mexico, North Carolina, North Dakota, Oklahoma, Oregon, South Dakota, Texas, and Wisconsin. As additional resources are secured, ONAC will continue to expand grant support in other states. ONAC appreciates the partnerships with these grantees and all their work to build assets in Native communities. 

The importance of Native VITA programs:

Native VITA services are crucial as the tax preparation is offered by trusted sources in local Native communities. For those without broadband access and affordable devices on which to complete online tax returns, in-person Native VITA services help tribal citizens to claim their tax credits and to use tax time as asset-building time. ONAC will receive the data reports from the 2023 grantees this fall (as some offer year-round VITA services). To convey the impact of Native VITA services, ONAC can report on the data from sixteen grantees in 2022. Those sixteen ONAC grantees served 9,358 tribal citizens and helped them claim $19,823,282 in federal tax refunds. Of those 9,358 tribal citizens, 3,195 individuals claimed $6,361,038 through the EITC and 2,015 families claimed $4,225,714 through the Child Tax Credit (CTC). 

About the Oklahoma Native Assets Coalition, Inc.:

The Oklahoma Native Assets Coalition (ONAC), started in 2001, is a national Native-led nonprofit that works with tribes and partners interested in establishing asset-building initiatives and programs in Native communities, for the purpose of creating greater opportunities for economic self-sufficiency of tribal citizens. ONAC is an intermediary funder, grassroots network coordinator, and also a direct service provider that works with Native families to build their assets through ONAC's provision of Native-specific financial education and financial coaching, as well as funding of Children's Savings Accounts (CSAs), Emergency Savings Accounts (ESAs), down payment assistance, incentivized Bank On accounts, and emergency cash assistance. Soon, ONAC will launch a revolving loan fund. 

The mission of 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 and culturally relevant financial education and financial coaching initiatives, as well as seed-funded account programs, down payment assistance, EITC outreach, free tax preparation, expanded banking access, and other asset-building strategies. 

Asset-building programs simultaneously address family economic security, food sovereignty, financial literacy, and preservation of Native languages and arts. ONAC believes strongly in the importance of creating programming that incorporates Native worldviews, traditions, arts, and languages into Native asset-building efforts.

For further information: 

Contact Christy Finsel, Ph.D., (Osage Nation), ONAC Executive Director, cfinsel@oknativeassets.org.

On May 9, 2023, ONAC Executive Director, Christy Finsel, met with the OCC Acting Comptroller Michael Hsu in Oklahoma City. ONAC and other community groups spoke with Acting Comptroller Hsu about the realities they face, on the ground, with building assets in underserved communities. ONAC was grateful for the opportunity to participate in the meeting. 

Date: April 26, 2023

Contact: Jennifer Astone

Email: jen@iciaptos.com 

On April 26, 2023 the Transformative 25 (T25) Project and Integrated Capital Investing released its third list of integrated capital funds, banks and initiatives transforming finance since 2021. 

The T25 identifies and recognizes funds, banks and initiatives which demonstrate the power and possibility of integrated capital toward a finance system that works for people and the planet. 

T25 funds employ creative financial tools, generate social, relational, and ecological returns, and engage with ownership and governance for equity. 

The T25 Selection Committee includes 19 members from multiple sectors who reviewed a diverse group of funds that drive innovative solutions to wealth inequality, the climate crisis, unbanked entrepreneurs and families, and racial and gender discrimination. The funds provide holistic solutions and business assistance to returning citizens, Native communities, the underhoused and underemployed. 

The T25 funds illustrate that collaboration, rather than competition, is the path to solving  problems. Ishita Shah, one of the committee members noted, “The integrated capital community is one that spreads its wings by teaching others rather than employing a competitive culture. That's the beauty of keeping impact center stage - everyone's incentive is to spread ideas and approaches to impact, rather than compete on the best fund or greatest financial success.”

On April 26 at 11 a.m. the list will be shared in a public webinar, open to registrants at the following eventbrite link. The Transformative 25 - 2023 report and list will be available at the Transformative 25 website on April 26.

Here is the recording of the Fund launch. 

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Dear ONAC Constituents and Friends:

The Center on Budget & Policy Priorities is hosting Tax Time Thursdays every other week throughout this tax season. This learning series will focus on outreach strategies for reaching underserved and marginalized communities who may be eligible for tax credits. Sessions will include brief presentations and extended time for participants to ask questions and share their experiences.

On April 6th, the session will explore strategies to reach Native communities. Patsy Schramm (Cherokee Nation) and Christy Finsel (Osage), of ONAC, will present during this session.

Register here: https://bit.ly/Tax-Thursdays23

Remaining Tax Time Thursdays Calendar:

• 3/23: People experiencing homelessness with Deacon Jim Shanahan, Catholic Charities of the Archdiocese of Washington

• 4/06: Native communities with Christy Finsel and Patsy Schramm, Oklahoma Native Assets Coalition (ONAC)

• 4/20: Rural communities with Paheadra Robinson, Southern Rural Black Women’s Initiative

• 5/04: People who were formerly incarcerated with Debra Simmons, Neighborhood Improvement Association, Inc.

  
  

  
  

  
  

  
  

  
  

Yesterday, February 28, 2023, ONAC, in partnership with the FDIC, participated in a webinar about Native asset building in North and South Dakota. Those residing in other states may also find the slides from the webinar to be helpful to them in their asset-building efforts. 

Here is a link to the webinar slides: https://bit.ly/Feb282023slides

      Asset Building in North and South Dakota 

Native American Communities   

Tuesday, February 28, 2023 

In recognition of America Saves Week, the Federal Deposit Insurance Corporation (FDIC) hosted a webinar focused on saving and other asset-building strategies in North and South Dakota Native American communities. Native American leaders outlined economic inclusion and asset-building best practices and success stories and discussed innovative practices that have been developed for Native American households. They also discussed how financial institutions and community-based organizations can support tribal governments and Native-led nonprofits in their work to build financial security for their communities.

Presenters Included:

Carla Tillmon, Community Affairs Specialist, Kansas City Region, FDIC

Christy Finsel, Executive Director, Oklahoma Native Assets Coalition (ONAC) 

Karen Edwards, Manager, Native Bank on ONAC

Jonathan Anderson, Tribal Business Information Center (TBIC) Director, Sitting Bull College, North Dakota 

Geri LeBeau, Director of Operations, Black Hills Community Loan Fund, South Dakota 

Here is a link to the webinar slides: https://bit.ly/Feb282023slides

For FDIC banking access resources go to: www.fdic.gov/getbanked

For ONAC Native banking access resources go to: https://bit.ly/ONACNativeBankingAccess

ONAC, in partnership with the FDIC, is promoting this webinar about Native asset building in North and South Dakota. Those residing in other states may also find this Native asset-building information helpful to them in their asset-building efforts. 

       Asset Building in North and South Dakota

Native American Communities 

   Webinar

Tuesday, February 28, 2023 

 1:00 PM to 2:30 PM CT  

In recognition of America Saves Week, The Federal Deposit Insurance Corporation (FDIC) is hosting a webinar focused on saving and other asset building strategies in North and South Dakota Native American communities.

Native American leaders will outline economic inclusion and asset-building best practices and success stories and discuss innovative practices that have been developed for Native American households. They will also discuss how financial institutions and community-based organizations can support tribal governments and Native-led nonprofits in their work to build financial security for their communities.

Presenters Include:

Christy Finsel, Executive Director, Oklahoma Native Assets Coalition (ONAC) 

Karen Edwards, Manager, Native Bank on ONAC

Jonathan Anderson, Tribal Business Information Center (TBIC) Director, Sitting Bull College, North Dakota 

 Barbara Schmitt, Executive Director, Black Hills Community Loan Fund, South Dakota 

Click Here to Register 

Dear ONAC Constituents and Friends, 

For those interested in joining the ONAC Native EITC/VITA Network, here is a flyer with more information. 

Also, here is a flyer with information for tribal citizens who will be filing their taxes during the upcoming tax filing season.  

For the coming tax season, if you are a filing a simple return, you are invited to file your federal return, for free, by using this On-Line Taxes, Inc. link: https://www.olt.com/main/vita/getstarted.asp?affiliate=VITAFREE&linkID=S27091832

Best wishes to all of our VITA partners and grantees for this tax season!

Dear ONAC Constituents and Friends:

Greetings! In 2021, ONAC celebrated twenty years as a Native-led asset-building coalition. While keeping its name, over the years ONAC has greatly expanded the Native asset-building services it provides across the country. We could not do this work without you!

As a nonprofit, ONAC works hard to directly support Native families and communities. ONAC has low overhead expenses. In 2021, 90.7% of ONAC's expenditures were program related.

Here is a link to the 2021 ONAC annual report:https://bit.ly/ONAC2021

Background information about ONAC:

To better support other Native asset-building practitioners, ONAC is a grantmaker and provides intermediary funding to tribes and Native-led nonprofits so they may administer their own programs. Also, ONAC coordinates two national Native asset-building networks including the Native Bank On initiative that focuses on expanding access to safe and affordable bank accounts and the Native EITC/VITA Network that shares resources and opportunities, to provide a platform for interaction among Native site coordinators, and to bring concerns from Native VITA sites to appropriate parties. To bring more resources to the table, ONAC also conducts national Native asset-building research on the Native youth savings initiatives in the country and the efforts of Native women entrepreneurs to close the women’s wealth gap, as well as publishes resource guides for parents managing 529 college savings accounts and those offering remote VITA services and financial education during the pandemic. For tribes and Native-led nonprofits interested in free technical assistance and training to administer such programs, ONAC provides co-hosted Native financial education and coaching trainings and free one-on-one technical assistance.

In addition to providing intermediary funding and helping to build the capacity of other Native asset-building practitioners, ONAC is a direct service provider. ONAC administers the largest Native seed-funded Children’s Savings Account and emergency savings account programs in the country; provides nationally-available emergency cash assistance and free financial coaching directly to Native families across the country; and is the only Native nonprofit offering seed-funded Bank On accounts. In 2021, ONAC launched a down payment assistance program.In the past year, ONAC has provided down payment assistance to fifty families with support from the FHLB Topeka and private donors.

Coalitions such as ONAC wear a variety of hats and support the creation of culturally relevant and community-centric programming that addresses intergenerational poverty with a focus on traditional Native beliefs regarding asset building.

A note about the Native asset-building field:

The Native asset-building field is broad and includes tribal governments, non-CDFI Native-led nonprofits, and Native CDFIs that are all delivering needed asset-building services. ONAC works with these constituents and others throughout the country to help Native families and communities reduce poverty and build assets. Given the historical and current asset stripping, the demand for services in various Native communities, and differences in missions and geographic service areas, it takes all of us working together to be successful.

Again, here is the link to the 2021 annual report:https://bit.ly/ONAC2021

We are grateful for your support and partnership!

On October 19, 2022, the Oklahoma Native Assets Coalition, Inc. (ONAC) and the Federal Trade Commission (FTC) co-hosted a webinar on identity theft and FTC resources for American Indian, Alaska Native, and Native Hawaiian communities. During the webinar, the FTC shared overview information about identity theft, as well as FTC resources to respond to such theft including prevention and the process for reporting to the FTC if such theft has occurred. Given expansion of broadband in Native communities and the upcoming holiday shopping season, ONAC and the FTC thought it was a good time to share these resources so that Native peoples can try to prevent identity theft. ONAC is grateful to the FTC for their partnership. 

Here is the link to the recorded webinar from the FTC: https://youtu.be/q1fLmko9jlk 

The Oklahoma Native Assets Coalition, Inc. (ONAC) and the Federal Trade Commission (FTC) are co-hosting a webinar focused on identity theft on Wednesday, October 19, 2022, at 3 p.m. ET, 2:00 p.m. CT.

During the webinar, the FTC will share overview information about identity theft, as well as FTC resources to respond to such theft including prevention and the process for reporting to the FTC if such theft has occurred. This webinar is open to Native communities across the country.

The registration page and registration confirmation email states the webinar begins at 2:30 p.m. ET (that is the start time for speakers). Please note that the official start time for registrants is 3:00 p.m. ET.

Here is the registration link to attend: chttps://ftc.zoomgov.com/webinar/register/WN_chicP_F1Si2JYdjg7OG45w.

The FTC is interested in learning more about what identity theft is currently occurring in Native communities so they can better tailor their prevention materials and enforcement.

If you have been the victim of such theft or are working with Native constituents who are experiencing theft, please join.

ONAC is co-hosting this webinar as part of its comprehensive asset building programming, which includes promotion of financial education and efforts to reduce asset stripping (such as through prevention of identity theft).

We invite you to join on Wednesday, October 19th.

You are invited to a Zoom webinar.

When: Oct 19, 2022 03:00 PM Eastern Time (US and Canada)

Topic: FTC/ONAC IDT and other FTC Resources Webinar

Register in advance for this webinar:

https://ftc.zoomgov.com/webinar/register/WN_chicP_F1Si2JYdjg7OG45w

Or an H.323/SIP room system:

  H.323: 161.199.138.10 (US West) or 161.199.136.10 (US East)

  Meeting ID: 160 466 7199

  Passcode: 669450

  SIP:1604667199@sip.zoomgov.com

  Passcode: 669450 

After registering, you will receive a confirmation email containing information about joining the webinar.