Illinois Asset Building Group - Building Financially Strong Families and Communities

The Illinois Asset Building Group (IABG) is a coalition of community leaders, service providers, researchers, advocates, labor and business leaders joining in collective pursuit of policy change to build the financial strength of families and communities in Illinois. Through grassroots organizing, public education, and policy advocacy, IABG members are contributing their knowledge and expertise in building the stability and strength of Illinois communities through increased asset ownership and asset protection.

History:
- 2003: Woods Fund of Chicago convenes a series of meetings with statewide grantees to discuss the value of asset building strategies and an asset policy agenda in Illinois
- 2004: Illinois Asset Building Group is formalized as a coalition, the Coordinating Committee (governing body) is established, and Joe Antolin/ Heartland Alliance and John Bouman/ Shriver Center are elected as co-chairs.
- 2005: Woods Fund commits initial support for IABG. IABG begins development of longer term policy development, coalition building, and advocacy strategy. Members identify seven broad issue areas as focus for IABG policy work: lifelong education and training, healthcare, financial security and investment, housing/ homeownership/ utilities, small business development, transportation, and tax policy. Based on input from IABG members, grassroots leaders and other constituents, IABG adopts Children’s Savings Accounts as initial priority.
- 2006: IABG holds series of events and meetings to raise awareness about CSAs and build the coalition. Research and policy development, constituency building, and communications activities underway in support of CSAs.
- 2007: CSA Task Force legislation introduced based on work of IABG. IABG develops materials and conducts educational activities with elected officials. House Bill 1662 passes the Illinois General Assembly and is signed into law. IABG conducts outreach and education to potential Task Force members. IABG develops recommendations for Illinois CSA plan underway.
- 2008: IABG formalizes coalition with a website, newsletter, and broad-based policy agenda aimed at building assets for all Illinoisans. IABG begins work to define and explain asset poverty for each community and state legislative district in Illinois. Campaign develops around an array of policy issues, which can help to increase the asset building potential of families and communities. IABG holds first Capitol Day in Springfield. IABG begins an “educational road show” to help raise awareness of the importance of asset-building strategies for moving families out of poverty.
- 2009: Children’s Savings Account Act amended to move the dates of task force completion to December 31, 2009; this will accommodate the delays in task force appointments. IABG works to have the Children’s Savings Account Task Force appointed and convene. IABG continues as an active partner in efforts to reform payday/ consumer loan industry, expand the state Earned Income Tax Credit, and create other asset-building opportunities. IABG begins work to identify policy supportive of financial education in schools.

Accomplishments:
- Supported the successful passage of House Bill 1662, creating the Children’s Savings Account Task Force
- Developed IABG recommendations for key policy components of a CSA program that are in alignment with the coalition’s core principles
- Continued expanding size and diversity of the IABG coalition to include community leaders, service providers, researchers, advocates, organized labor, and business leaders
- Educated elected officials on Children’s Savings Accounts and other asset policy initiatives
- Established relationships with civic and government leaders, including the Illinois State Treasurer’s Office, in support of the Task Force
- Developed series of written materials on CSAs and asset building, including research summaries, key data on asset poverty, and other fact sheets
- Launched IABG website – www.illinoisassetbuilding.org – as central communications vehicle and resource
- Heightened visibility of IABG as Illinois asset policy leader through events at the Federal Reserve Bank of Chicago, the Illinois State Capitol, and various conferences and meetings
- Worked closely with advocates and elected officials to advance payday loan reform legislation at the state and federal level
- Advocated for expanding the state Earned Income Tax Credit
- Held two successful events at the state capitol with IABG members and legislators

Structure:
Members – consists of a variety of individuals and organizations participating in and/or supporting IABG efforts. Full body meetings are held at least once a year.
Coordinating Committee – the governing body that oversees policy priorities, action plans, and integration of subcommittee efforts. The Coordinating Committee meets quarterly.
Policy Committee – oversees development of policy and strategy for IABG policy advocacy, including work in developing the CSA plan and in supporting the advancement of IABG-sponsored legislation. The Policy Committee meets three times a year.
Outreach Committee – develops and implements outreach plans to educate and engage various constituency groups regarding Children’s Savings Accounts and other asset policies, and assists with related organizing efforts. The Outreach Committee meets three times a year.
Communications Committee – engages in the development of activities and materials for strategic communications around IABG policy and program events. The Communications Committee meets as needed.
Co-chairs – responsible for convening, coordinating, and facilitating IABG activity, staffing related committees, fundraising, and project management. Co-chair organizations are Heartland Alliance for Human Needs & Human Rights and the Sargent Shriver National Center on Poverty Law.