Oklahoma Native Assets Coalition, Inc.
9511 Horseshoe Road
Oklahoma City OK 73162
Tax Exempt Status Public Supported Charity
Organization Does Business As (DBA) Name(s)
Organization DBA
N/A
Mission Statement 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 comprehensive financial education initiatives, Individual Development Accounts, and other asset-building strategies.
Contact Information
Contact Name Christy Finsel
Contact email cfinsel@oknativeassets.org
Address 9511 Horseshoe Road
Oklahoma City, OK 73162
Phone (405) 401-7873
County Oklahoma
How to Give
Donate with Credit Card http://www.oknativeassets.org/donate
Other ways to donate, support or volunteer
To send either general or endowment donations by mail, please send a check, made out to the Oklahoma Native Assets Coalition Inc., to the following address:
Oklahoma Native Assets Coalition Inc.
Attn: Christy Finsel, Executive Director
9511 Horseshoe Road
Oklahoma City, OK 73162 
On the check memo line, please note if the donation is a general donation or for the ONAC endowment.  
Sponsorship opportunities are also available. For more information, please contact Christy Finsel, ONAC Executive Director, at (405) 401-7873 or cfinsel@oknativeassets.org.
Financial Summary
 
 
Projected Revenue $183,777.75
Projected Expenses $156,601.43
History and Background
Former Names
NameYear
N/A
Year Founded 2001
IRS Ruling Year 2014
State Registration Expiration Apr 2018
Statements
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 comprehensive financial education initiatives, Individual Development Accounts, and other asset-building strategies.
Background
In 2001, a meeting supported by the Center for Social Development at Washington University in St. Louis and First Nations Development Institute was held to determine interest in the development of an intertribal consortium or coalition of tribes having initiated (or about to initiate) asset-building programs.  From 2001 until 2006, Karen Edwards (Choctaw), a Project Director at the Center for Social Development (CSD) at Washington University in St. Louis, continued working with several other Native asset building practitioners to build the base for the coalition.  They conducted outreach and meetings.  During this time, CSD and First Nations Development Institute, both classified as tax exempt under section 501 (c)(3) of the Internal Revenue Code, financially supported ONAC.  By 2006, ONAC was a project of First Nations Development Institute and they paid Karen Edwards, as a consultant once she retired from CSD, to be the project manager for ONAC.   In 2007, a group of tribal representatives met, at the Cherokee Casino and Resort in Tulsa, and agreed to become an organized Native-focused asset-building group, along the lines of those developed in some other states. This meeting established three objectives:
Identify and bring together Oklahoma tribes that are implementing or planning to implement asset-building programs, for networking and learning purposes;
Create and support a venue for Oklahoma tribes to share information on issues related to creating and implementing asset-building programs; and
Sustain a Native-led asset-building group – made up of tribal and tribal-related entities – designed specifically to address unique asset-building circumstances of Oklahoma tribes.
As a first step to accomplishing its mission, ONAC identified three main action goals:
Engage tribal leaders and state and federal policy makers in expanding asset-building opportunities for Native people in Oklahoma through policy changes;
Create an information conduit for tribes on financial education, IDAs, EITC, CDFIs, and other asset-building strategies and opportunities; and
Develop local leadership, expand membership, and work to make the coalition self-sustaining. 

ONAC remained a project of First Nations Development Institute until 2014 when ONAC was approved as a tax exempt organization.  

As of 2017, while our focus is on serving Oklahoma tribes and Native nonprofits, we are now working on a national level with our participation in asset building advisory groups, requests for administrative policy guidance at the federal level, and in our work to open Children’s Savings Accounts for Native youth across the nation.
 
 
 
Impact Since 2001, the Oklahoma Native Assets Coalition has built a Native-led asset building coalition that now reaches out to 760 constituents and partners. We have engaged tribal leaders and policy makers to expand asset building opportunities for Native citizens in Oklahoma. As we have worked to make our coalition sustainable, ONAC has provided information about numerous asset building models and resources.
Needs
ONAC's top 5 most pressing needs include:
 
Program administration funding
Additional funding for Children's Savings Account Program
Endowment support
Additional funding for ONAC Mini Grant Program
Funding for a brick and mortar office in Oklahoma City with space for gardening demonstrations (to support food sovereignty projects that also connect to Children's Savings Account enrollment events)
CEO/Executive Director Statement The Oklahoma Native Assets Coalition (ONAC) believes that Native communities have many assets. Our coalition also understands that assets are not just financial in nature but also include land, education, sovereignty, spirituality, culture, youth, etc. We want Native asset building programs to have a strong cultural fit so that they match with our worldviews and have community buy-in. Our constituents are offering homeownership assistance, entrepreneurship, Individual Development Account, financial education, Volunteer Income Tax Assistance (VITA), credit and debt repair, estate planning, food security, Children’s Savings Accounts, etc. Each of these programs can designed so as to build numerous individual and communal assets. ONAC, one of the few Native-led asset building coalitions in the country, currently works with over 760 constituents and friends to support current asset building programs and to increase the number of new asset building programs in Oklahoma. ONAC provides constituents with asset building resources, models, and strategies; an annual ONAC conference for networking and to lift up what is working; opportunities to connect to Native and non-Native asset building practitioners in Oklahoma and around the country, for partnership; free training and technical assistance to help constituents design and implement programs; mini grants for their programs; and administrative policy guidance requests to federal programs, as needed (such as our request for information about Tribal TANF-funded Individual Development Account program purchases, etc.); etc. We hope to raise additional funds for pilot Native Children's Savings Account programs soon. ONAC is thankful for support from First Nations Development Institute, the Ford Foundation, the W.K. Kellogg Foundation, and our constituents. We appreciate any future support of our efforts. Christy Finsel (Enrolled Member of the Osage Nation), Executive Director
Board Chair Statement

I firmly believe asset building is the way to build wealth in families, especially those experiencing generational poverty. With organizations such as ONAC, you can meet other asset-building practitioners, get new ideas, and take lessons learned home to enhance your tribal asset building programs. Over the last fourteen years, I have been attending ONAC meetings and have served as a member of the ONAC leadership. By participating in ONAC, I have continued to learn about asset building from others in the state. In turn, I have shared about the Cherokee Nations’ asset building programming efforts, such as with our Voluntary Income Tax Assistance, matched savings account, financial education, entrepreneurship, and credit builder programs. ONAC has come a long way in the past several years especially after we had the funds to support an Executive Director at least half time. My hopes for ONAC going forward are that more Native people in Oklahoma understand about asset building and how they could enhance asset-building efforts in their tribe.

Additionally, I hope ONAC is able to secure sustainable funding streams, as this coalition plays a crucial role in tribal asset development. ONAC has funded thirteen mini grants since 2014. We would like to increase the numbers of grants offered to help more tribes and Native nonprofits get their asset projects off the ground.

I am so pleased that ONAC is offering Children’s Savings Accounts. I think such programming for children is where we get our biggest return on our dollars and where we have the most impact. Asset building for children will allow us break generational poverty and help our youth to have what they need to flourish.

I am honored to serve as the ONAC Board Vice President. We appreciate the support that tribes, Native nonprofits, and other partners have shown ONAC. The coalition wishes to continue to expand our reach and help our constituents take advantage of the coalition’s resources. The sky is the limit on how we, together, can build assets in our tribal communities.

Anna Knight (Cherokee)
Commerce Group Leader
Cherokee Nation Commerce Group 
Area Served
Area Served
Geographic Area Served
Local
National
The Oklahoma Native Assets Coalition is a Native-led coalition that serves the federally recognized tribes, and Native nonprofits, in Oklahoma. While our first priority is to serve those in Oklahoma, we also have a number of friends of ONAC who reside across the nation.  As there are few Native asset building coalitions in the United States, we make our webinars, peer learning calls, distribution list, and events open to those who are interested in Native asset building, regardless if they live in Oklahoma or not.
 
While our focus is on serving Oklahoma tribes and Native nonprofits, we are now working on a national level with our participation in asset building advisory groups, requests for administrative policy guidance at the federal level, and in our work to open Children's Savings Accounts for Native youth across the nation.  
 
If funding were available, ONAC is prepared to open CSAs for Native youth across the nation. This includes providing Children's Savings Accounts to members of Oklahoma tribes, wherever they reside within the U.S. and its territories. Additionally, our mission allows us to offer Children's Savings Accounts (CSAs) to Native Hawaiians, Alaska Natives, or American Indians, from various nations, living in Oklahoma. Also, our mission allows for ONAC to fund CSAs for any Native youth, from any federally-recognized tribe, as well as Native Hawaiians.  
 
Service Categories
Secondary Organizational Category Community Improvement, Capacity Building/Rural Economic Development
Tertiary Organizational Category Public & Societal Benefit/Fund Raising & Fund Distribution
Programs
Description
ONAC funds mini 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 sixteen mini grants (total of $53,000) since 2014. 
Four of the grantees completed their projects in 2015. Three grantees completed their projects in December 2016.  One completed their project in June 2017.  The others will complete their projects by Spring 2018.
For the program budget, we included all current active mini grants and the grants we will fund in 2017 ($53,000 in grants). In that budget, we also included money allocated towards administration of the mini grants and evaluation ($46,750) and IT services ($250) for the mini grant application site. We will receive that future confirmed funding in future grant installments (currently through April 2018).
In terms of impact, the final reports for the completed projects are available on the ONAC website, at www.oknativeassets.org, under the Our Work section, years 2015 and 2016.  
Strategy
Population Served Families
Program Short-term SuccessHelpDescription of short-term achievement(s) or improvement(s) that will result from this program. We offered the first-round of mini grants in 2014. The grantees completed their projects.  See the Our Work Sections, years 2015 and 2016, for the mini-grant final reports (www.oknativeassets.org).
Program Long-term SuccessHelpDescription of the ultimate change(s) that will result from this program. This may be far into the future or represent an ideal state. We offered the first-round of mini grants in 2014. The grantees completed their projects. The final report highlighting their work is available at: https://oklahomanativeassetscoalition.wildapricot.org/Resources/Documents/ONAC%202014-2015%20Mini%20Grant%20Final%20Report.pdf.
Program Success MonitoringHelpDescription of the tools used to measure or track program impact. ONAC will be monitoring the success of the new grantees.
Examples of Program SuccessHelpSpecific examples of changes in behaviors or testimonies of changes that demonstrate program success. From the Wichita and Affiliated Tribal Newsletter (authored by President Terri Parton): "In the March 31, 2014 edition of the Wichita Tribal newsletter an announcement was made that the Tribe had received a grant award from the Oklahoma Native Assets Coalition. The First Nations Development Institute (FNDI) serves as the fiscal sponsor. The Wichita and Affiliated Tribes received a grant award from the Oklahoma Native Assets Coalition (ONAC) in the amount of $3,500. The Wichita and Affiliated Tribes administered a SummerSmart: Wichita Summer Youth Program to building pride through teaching Wichita history and cul-ture and promoting good health practices. The participants of the SummerSmart program were eligible to receive up to $200 for participation in the program and for attending cultural activities. Our summer interns with the Tribe also received savings accounts as part of their internship. The youth and Interns were given a presentation by First State Bank in Anadarko and received piggy banks when they opened their accounts. They also received other classes on financial education where they discussed saving. It is our hope that the children will continue to utilize the savings accounts and deposit their future earnings. We encour-age parents, grandparents and guardians to assist the children in reaching their savings goals. There are still a few children that need to set up their accounts. Twenty three (23) children plus four (4) in-terns participated in the grant. This grant was a joint effort by the Charles Clark, Grant Writer and the President with approval by the Wichita Executive Committee and assistance from the Juvenile Services Director." Other grantees will be reporting their progress and successes in the coming months.
Description

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 required by the Oklahoma 529 College Savings Plan.

According to the American Indian College Fund, “only 13% of American Indian students age 25 or older have a college degree-115% below the national level.

As of March 31, 2017, in total, ONAC has funded 415 CSAs. ONAC will fund the remaining accounts through April 2018. ONAC has 16 confirmed tribal and Native nonprofit partners for these accounts.

Building from the idea that Native communities do not only think of money as assets, along with the accounts, ONAC provides financial education resources, a piggy bank, a Native arts component, and seeds for home gardening (to promote food security).

Strategy
Population Served Children and Youth (0 - 19 years)
Program Short-term SuccessHelpDescription of short-term achievement(s) or improvement(s) that will result from this program.

ONAC has collected qualitative data from the parents about their hopes for their children's future, in relation to the accounts.  ONAC has also collected demographic, gender and age data, as well as general income information.  Of the accounts funded to date, 413 of the 415 accounts funded by ONAC were for American Indian youth (one tribal program serves Native and non-Native youth).   Of the data collected thus far, at least 84% of the youth are from families living at 200% of the federal poverty level.  

ONAC will be collecting follow-up survey data about the accounts in the next six months. 

Program Long-term SuccessHelpDescription of the ultimate change(s) that will result from this program. This may be far into the future or represent an ideal state. ONAC will collect follow-up evaluation data from the parents and report on this data. 
Examples of Program SuccessHelpSpecific examples of changes in behaviors or testimonies of changes that demonstrate program success.

Innovation in Addressing Gaps and Championing Community Assets

ONAC has championed culturally-relevant CSA models that build community assets. Program innovations include:

The Mvskoke Loan Fund held a CSA opening event that coincided with a Muscogee (Creek) Movie Night at the Dome (where the tribe shows a full length children’s movie). They opened 116 Children’s Savings Accounts with Muscogee (Creek) parents/guardians through the Oklahoma 529 College Savings Plan. Building from Indigenous teachings that assets are not only money, the Mvskoke Loan Fund invited a Muscogee (Creek) artist, Daniel Wind III, to display his work. Muscogee college students volunteered to work with the youth attendees on artwork that the youth created to express their understandings of assets. The youth drew pictures of their families, homes, flowers and trees, food, and a person graduating and getting a job.

· The Eastern Shawnee Tribe of Oklahoma opened a total of 50 ONAC Children’s Savings Accounts for youth enrolled in a financial education program they provided, as well as for children who attend their Early Childhood Learning Center. They held a Family and College Savings Plan Night at their Early Childhood Learning Center. During that event, they scheduled storytelling, a Native arts project, supervised playtime, and dinner. Chief Glenna Wallace attended the event to support tribal staff and to encourage the parents and youth to deposit more funds in the account over the years.


Description
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; and facilitation of statewide networking and non-lobbying advocacy among tribal leaders, government officials, individual families, and other influential stakeholders interested in building the economic capacity of Indian Country.
For the budget, we included our anticipated program budget for the next two years.
Strategy
Population Served Native Americans Other Named Groups
Comments on Programs
CEO/Executive Director/Board Comments
The Cherokee Nation Child Support Program was the first of our sixteen confirmed partners to launch the project. They opened their first account in December 2015. They will work with their child support clients to open CSAs for families with an annual income equal to or less than 200 percent of the federal poverty level who have children ages birth to eight. 
As part of our CSA campaign over the past several years, ONAC has worked with child support contacts to tease out alternatives to state owned debt forgiveness (such as with the CSA in the state of Kansas) as state owed debt forgiveness is not currently allowed in Oklahoma. We have arrived at an alternative option that tribally- administered CSAs may want to offer their clients.

To add extra incentive for parents served by the Cherokee Nation Office of Child Support Services to deposit funds in the accounts, they will offer the custodial and noncustodial parents, who have establishment and enforcement cases, an offer for private mediation.  If both parties are willing, and the non-custodial parent owes a custodial parent money, in order to work a good obligation, the non-custodial parent may deposit money into the Children’s Savings Account for the benefit of their child. This reduces the non-custodial parent’s debt, and helps the child to have a bigger nest egg of savings. We hope that this Children’s Savings Account project, with an added debt reduction component, may be a model for other tribally-administered Child Support Programs that wish to offer Children’s Savings Account programs. We appreciate the opportunity to partner with the Cherokee Nation Child Support Program to launch this program.

With the CSAs we opened in 2016, ONAC has provided each participant with a Native-specific financial education booklet that promotes a Native understanding of assets. Building from this asset building framework, two of our tribal nonprofit partners (Mvskoke Loan Fund and Osage Financial Resources, Inc.) have invited youth to work with a Native artist, that the partners have invited from their tribe, to generate a piece of art where the youth draw or paint what they value. The kids have drawn pictures of homes, their families, vehicles, food, a Native person graduating from school, and someone getting a job. With this model, while the youth were working on a Native art project, we were working with the parents and guardians to complete the Oklahoma 529 College Savings Plan account applications. 
 
Since 2014, with grants from the W.K. Kellogg Foundation, First Nations Development Institute, with support of the Ford Foundation, and the Osage Nation Foundation, ONAC has secured funding for 660 Children’s Savings Accounts. 

As of December 11, 2016, ONAC has funded 380 CSAs. Of these, ONAC opened and funded 305 accounts with its partners, plus funded mini grants for an initial thirty-five accounts that were opened by the Wichita and Affiliated Tribes and the United Keetoowah Band of Cherokee Indians, as well as awarded two mini grants to the Kaw Nation and Ranch Good Days, Inc. for forty more accounts, for a total of 380 accounts. Of the data available to date, 295 accounts were opened through the Oklahoma 529 College Savings Plan; thirty-five were opened at financial institutions, one bank in Anadarko and another in Tahlequah; forty are still being funded by ONAC grantees, the Kaw Nation and Ranch Good Days, Inc.; and ten were opened through MOST-Missouri’s 529 College Savings Plan. ONAC will fund the remaining 280 accounts through April 2018.

CEO/Executive Director
CEO/Executive Director Christy Finsel
Start Date Sept 2011
Email cfinsel@oknativeassets.org
Experience

Christy Finsel is an independent consultant and researcher focused on asset building.   From 2006 to present, Ms. Finsel has provided training and/or technical assistance to thirty-two American Indian, Alaska Native, and Native Hawaiian communities who were designing and implementing Individual Development Accounts (IDA) or financial education programs. In 2010, she prepared Native-specific training content for the Native Asset Building Initiative Project Design and Application Development Workshops. She then conducted eleven of those workshops for Native communities for the Administration for Native Americans. During the ASSET Initiative, Ms. Finsel was the AFI Regional Consultant for Region VII where she worked with Administration for Children and Family programs to integrate asset-building opportunities (included in this work was the technical assistance she provided for the Kansas Child Support Savings Incentive Program, a Children’s Savings Account program geared to children of noncustodial parents). In the last several years, she has completed managing a pilot Native Youth Savings Account Program in McKinley County, New Mexico, for First Nations Development Institute. She also provided technical assistance to the Meskwaki Nation as they designed and implemented an Individual Development Account (IDA) program and to Wai’anae Community Redevelopment Corporation for their NABI-funded Individual Development Account program.  In October 2014, she was named a National Center for American Indian Enterprise Development "40 under 40" award recipient. 

Currently, she is working with First Nations Development Institute and providing technical assistance to Chief Dull Knife Tribal College as they design a Children’s Savings Account program and directing the Oklahoma Native Assets Coalition (ONAC), created to work with the tribes in Oklahoma on asset building efforts.

She voluntarily co-administers a youth IDA program at La Salle (DLS) Middle School in North St. Louis City, which she designed and launched in 2003. Ms. Finsel is also co-administering a Child Savings Account program at DLS.

She holds a MA in Theology from St. Louis University and a Master of Social Work from Washington University in St. Louis.   She is an enrolled tribal member of the Osage Nation of Oklahoma.

Staff
Number of Full-time Staff 0
Number of Part-time Staff 0
Number of Contract Staff 0
Number of Volunteers 9
Staff Retention Rate 0
Does CEO/Executive Director have formal evaluations? Yes
Management reports to board? Yes
Organizational Plans
Fundraising Plan Yes
Policy against commission-based compensation for fundraising consultant Yes
Communication Plan Yes
Strategic Plan Yes
Number of Years Strategic Plan Considers 1
Date Strategic Plan Adopted July 2016
Management Succession Plan Yes
Organization Policies and Procedures Yes
Collaborations
ONAC works with First Nations Development Institute (a national Native nonprofit) as a partner in their NativeGiving cohort (to help Native nonprofits develop an individual donor database etc.).  ONAC also works with the Oklahoma Assets Network to share information about our work with Native asset building in the state and to learn about their work with other communities of color (related to asset building).   Ms. Finsel, of ONAC, is serving on the national Tax Alliance for Economic Mobility Advisory Group about federal tax policies and how they affect Native asset building efforts; the Alliance for Economic Inclusion in Northeastern Oklahoma; the Alliance for Native Financial Empowerment Leadership Team; and participating in a national working group on women and wealth. 
Risk Management Provisions
Crime Coverage
Directors and Officers Policy
Employment Practices Liability
Government Licenses
Is your organization licensed by the government (federal, state and/or local)? No
Comments on Staff & Management
CEO/Executive Director/Board Comments
Notes regarding ONAC management: 
ONAC has contracted with Ms. Finsel to direct the coalition as a consultant.  ONAC has not had the funds to hire Ms. Finsel as a staff member with benefits.   
Board Chair
Name Mrs. Christy Finsel
Company Affiliation Oklahoma Native Assets Coalition Inc.
Term July 2014 to July 2020
Email cfinsel@oknativeassets.org
Board of Directors
List Current as of Jan 01, 2017
Board of Directors List
NameAffiliationStatus
Mrs. Christy Finsel ONACVoting
Mrs. Dawn Hix Choctaw NationVoting
Mrs. Anna Knight Cherokee Nation Commerce GroupVoting
Mrs. Cynthia Logsdon Citizen Potawatomi CDCVoting
Mrs. Terry Mason Moore Osage Nation General CounselVoting
Mrs. Mary Elizabeth Ricketts Retired from Osage Nation Financial ResourcesVoting
Board Demographics - Ethnicity
Native American/American Indian 4
Other 2 Four board members are enrolled tribal members, one works for a tribal nation and another for a tribal nonprofit but those two members aren't enrolled
Board Demographics - Gender
Male 0
Female 6
Not specified 0
Governance
Board Term Lengths 3 years
Percentage of Board Making Monetary Contributions to the Organization 100 %
Percentage of Board Making In-Kind Contributions to the Organization 100 %
Board Orientation Yes
Constituency Includes Client Representation Yes
Written Board Selection Criteria? Yes
Standing Committees
Advisory Board / Advisory Council
Audit
Endowment
Comments on Board & Governance
CEO/Executive Director/Board Comments
A note about our board meetings: In 2014, we had one full board call with 3 of 5 joining.  We had follow-up calls with the two other board members who were unable to join.  From October 15, 2014 to July 12, 2015, we had numerous board updates by phone and email and over 20 board votes by email and phone.  In 2015, we had one in-person board meeting on July 13, 2015.  As of April 2016, we have agreed to have four board meetings a year (1 in-person and 3 by teleconference).  We had a board meeting on May 12, 2016 with 100% attendance, a meeting on July 11, 2016 with 80% attendance, a board meeting on August 31, 2016 with 83% attendance, and a meeting on December 13, 2016, with 83% attendance.  The board is updated on a monthly basis.  Also, on a weekly basis the board provides electronic board votes, as needed (these votes are then ratified during the next board meeting).  The ONAC Board has met one time in 2017 (three more board meetings scheduled).  At the first 2017 board meeting, we had 100% attendance. 
 
Regarding our board term lengths and board term limits, each of the initial five appointed directors shall serve for the following initial terms: 
Board President and Vice-President, 3 years
Board Treasurer and Director, 2 years
Secretary, 1 year
Thereafter, board members shall be elected for a three-year term.  Directors, including initial directors, shall be eligible for reappointment.  Each director shall hold office until the earlier of (a)  the end of his or her term, or (b) death, resignation, removal, incapacity or other inability or unwillingness to serve as a director. 
 
Current Fiscal Year
Fiscal Year Jan 01, 2017-Dec 31, 2017
Current Year Budgeted Total Income $183,778
Current Year Budgeted Total Expenses $156,601
IRS Letter of Determination
Prior Three Years' Financial History
Expense Allocation
Fiscal Year201620152014
Program Expense$225,191$80,836$11,480
Administration Expense$14,807$21,670$2,162
Fundraising Expense--$22,145$3,875
Payments to Affiliates------
Total Revenue/Total Expenses2.141.271.46
Program Expense/Total Expenses94%65%66%
Fundraising Expense/Contributed Revenue------
Assets and Liabilities
Fiscal Year201620152014
Total Assets$326,468$54,153$7,983
Current Assets$326,468$52,739$7,983
Long-Term Liabilities------
Current Liabilities$18,658$18,893--
Total Net Assets$307,810$35,260$7,983
Solvency
Short Term Solvency
Fiscal Year201620152014
Current Ratio: Current Assets/Current Liabilities17.502.79--
Long Term Solvency
Fiscal Year201620152014
Long-Term Liabilities/Total Assets0%0%0%
Funding Sources
Top Funding Sources
Fiscal Year201620152014
Top Funding Source & Dollar AmountContributions $512,048Contributions $158,226Contributions $25,500
Second Highest Funding Source & Dollar AmountMemberships $500Memberships $650 --
Third Highest Funding Source & Dollar Amount -- -- --
Endowment? Yes
Endowment Spending Policy Percentage
Endowment Spending Policy Percentage (if selected) 5 %
Credit Line? No
Reserve Fund? Yes
Capital Campaign
Currently in a Capital Campaign? Yes
Campaign Purpose To advance ONAC’s mission, ONAC is seeking to raise $5 million to fund an endowment for general operating expenses and program support. A strong endowment would make ONAC sustainable and viable well into the future. 
Campaign Goal $5,000,000
Campaign Dates Sept 2016 to Sept 2018
Amount Raised To Date $251,893 as of Apr 2017
Capital Campaign Anticipated in Next Five Years? Yes
Comments on Financials
CEO/Executive Director/Board Comments

Please see the 2016 compilation for the break-out of program expenses.  The 2016 audit should be completed by the end of the summer 2017.  

As of September 6, 2016, ONAC received our audited financials from our auditor. Our earlier compilations were completed on a cash basis while our 2015 audit was completed on an accrual basis.
As of September 21, 2016, ONAC has initiated an endowment campaign. Under the leadership of Governor Bill Anoatubby, the Chickasaw Nation has provided a generous lead gift of $250,000.00.
Since February 2014, ONAC has raised a total of $773,092 in funding to support programming, administration, and fundraising costs. Funders include the Chickasaw Nation, First Nations Development Institute (with support of the Ford Foundation), W. K. Kellogg Foundation, Cherokee Nation Commerce Group, Wichita and Affiliated Tribes, Choctaw Asset Building, Sac and Fox Nation Business Committee, Delaware Tribe of Indians, Delaware Nation, AARP Oklahoma, eighty-two individual donors, and four Native nonprofit memberships.
AUDITED FINANCIALS

Becker and Rosen, Certified Public Accountants, LLC audited the financial statements of ONAC, for the year ended December 31, 2015. The auditors presented an unqualified audit report. Here is ONAC’s 2015 Financial Statement of Activities: http://oknativeassets.org/resources/Documents/ ONAC_2015_Annual_Report.pdf. For more detailed information, please request the complete audit report.

HOPES FOR THE FUTURE OF NATIVE ASSET BUILDING

ONAC’s vision is that Native families will have multiple opportunities to grow their assets, through participation in integrated and culturally-relevant Native asset building programs. Our dream would be that all Native youth would have Children’s Savings Accounts to help them save for their future and let them know that college is a real option for them. The coalition also would like to be able to provide more funding for asset building initiatives in the state (to tribes and Native nonprofits) to increase the numbers of sustainable asset building programs (such as financial education, matched savings accounts, credit repair/credit builder, and family emergency savings account programs).

With the second-largest Native population, per capita in the United States, residing in Oklahoma, and that population increasing (2010 Census), support of Native asset building programs will help Native families to concretely build assets that will lead to family financial security. There is great potential for ONAC to work with constituents to help numerous Native families build their assets.

RAISING AN ENDOWMENT

In ONAC’s strategic plan, the coalition notes that we need funding to support and grow the nonprofit. ONAC’s leadership has worked to put in place a multi-pronged fundraising plan (individual donors, foundations, members, federal grants, corporate funds, sponsorships, etc.). The next step of that plan is to raise funds for an endowment. To advance ONAC’s mission, ONAC is seeking to raise $5 million to fund an endowment for general operating expenses and program support. A strong endowment would make ONAC sustainable and viable well into the future.

As of 2016, ONAC’s annual operating budget is $251,522. Endowment funding of $5 million would allow ONAC to draw 5% a year ($250,000). With the sustainability that an endowment provides, ONAC would then continue to seek foundation and individual donor support, as well as memberships, sponsorships, and other donations to offer more Children’s Savings Accounts and asset building grants in the state, in order to better meet the demand for our coalition services.

 

 
Foundation Staff Comments
All prior year financial information was restated according to the IRS Form 990s or 990EZ.  However, the expense detail breakout came from the FY2015 audited financials and FY2014 from compilations provided by the organization.
 
Contributions may include foundations and corporations when the breakout was not available.

The financial information presented is obtained from the following sources: IRS Form 990, independent audit reports, financial statements – board approved when available, and supplemental information from the organization. We do not warrant or guarantee the timeliness, errors or inaccuracies. With respect to information regarding financial performance, nothing on this website should be interpreted as a statement or interpretation by OCCF staff.
 
Organizations with a GiveSmartOKC profile are responsible for updating information annually within 45 days following the end of their fiscal year.  
Address 9511 Horseshoe Road
Oklahoma City, OK 73162
Primary Phone 405 401-7873
Give with Credit Card http://www.oknativeassets.org/donate
CEO/Executive Director Christy Finsel
Board Chair Mrs. Christy Finsel
Board Chair Company Affiliation Oklahoma Native Assets Coalition Inc.