Northeast Oklahoma Community Action Agency

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Archive for August, 2010

Teaching Kids Good Financial Habits

Posted by neocaablogger on August 27, 2010

Did you know that more than 10 million–40 percent of the Nation’s children and youths between ages 10 and 18–receive regular allowances or handouts from their parents or guardians, averaging $50 per week?  With that kind of cash in their hands, it is even more important that they learn how to handle money at a young age. To help get kids started with good financial habits, GovGab’s blog today offered the below resources:
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New Personal Finance Website Launched

Posted by neocaablogger on August 26, 2010

MyMoneyManagement.net offers consumers tools and information from financial services companies, as well as resources on financial counseling and financial education programs. The website features financial calculators, personal finance news and links to financial literacy resources. The site was launched by The Financial Services Roundtable, which represents 100 of the largest integrated financial services companies providing banking, insurance, and investment products and services.

 

 

 

 

 

 

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Labor Force Characteristics by Race and Ethnicity, 2009

Posted by neocaablogger on August 24, 2010

The U.S. job market continued to deteriorate in 2009, and all major race and ethnicity groups continued to experience labor market difficulties. For the second year in a row, employment fell more sharply for Blacks and Hispanics than for Whites and Asians. Unemployment rates remained especially high for Blacks and Hispanics in 2009, reaching 14.8 percent for Blacks and 12.1 percent for Hispanics. These figures were much higher than the unemployment rates for Whites and Asians, at 8.5 percent and 7.3 percent, respectively.

 

In general, the labor market problems experienced by Blacks and Hispanics are associated with many factors, not all of which are measurable. Some of these factors include a tendency to be employed in occupations with high levels of unemployment, lower average levels of schooling, greater concentration in the central cities of urban areas where job opportunities may be relatively limited, and the likelihood of discrimination in the workplace. These factors and others may help explain the acute labor market difficulties Blacks and Hispanics encounter, especially during economic downturns.

 

This report describes the labor force characteristics and earnings patterns among the major race and ethnicity groups and provides detailed data through a set of supporting tables. These data are obtained from the Current Population Survey (CPS), a monthly survey of 60,000 households that is a rich source of information on the labor force.  

Labor Force Characteristics by Race and Ethnicity, 2009 (PDF)  Source: Bureau of Labor Statistics

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Big Changes to Credit Card Terms

Posted by neocaablogger on August 23, 2010

If you have a credit card or two, you might be interested in knowing about some recent changes designed to protect you from certain credit card fees and rate increases. They’re part of the provisions of the Credit Card Act’s amendments to Regulation Z (Truth in Lending). Yesterday the latest set of rules for credit card companies was issued.
Essentially, if you are late making your minimum payment, your credit card company can’t charge you a fee of more than $25 unless:
  • one of your last six payments was late (in which case your fee may be up to $35), or
  • your credit card company can show that the costs it incurs as a result of late payments justify a higher fee.

In addition, your credit card company can’t charge a late payment fee that is greater than your minimum payment. So if your minimum payment is $20, your late payment fee can’t be more than $20. Similarly, if you exceed your credit limit by $5, you can’t be charged an over-the-limit fee of more than $5.

Other recent changes include:

  • Your credit card company can’t charge you inactivity fees, such as fees for not using your card.
  • Your credit card company can’t charge you more than one fee for a single event or transaction that violates your cardholder agreement. For example, you can’t be charged more than one fee for a single late payment.
  • If your credit card company increases your APR, it must re-evaluate that rate increase every six months. If appropriate, it must reduce your rate within 45 days after completing the evaluation.

Interested in reading about the first set of rules for credit card companies that came out in February? See the Federal Reserve’s What You Need to Know: New Credit Card Rules Effective Feb. 22, or visit the FAQ at USA.gov.


GovDelivery, Inc. sending on behalf of Gov Gab · 1800 F St NW, Room G-142 · Washington DC 20405 · 1-800-439-1420

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NEW Weatherization $$ Awarded to 8 Oklahoma CAAs

Posted by neocaablogger on August 19, 2010

Oklahoma scheduled to receive US Dept. of Energy ARRA Fund for new and innovative projects. Link to the full announcement:  http://apps1.eere.energy.gov/news/progress_alerts.cfm/pa_id=384
 

 Excerpt from the funding announcement:

 Oklahoma: Eight local weatherization agencies in Oklahoma have been selected to receive over $2.5 million to implement a variety of technologies.                     

Community Action Agency of Oklahoma City and Oklahoma and Canadian Counties will receive $300,000 to install cool roofs.

 

Community Action Development Corporation, located in Frederick, will receive over $160,000 to install cool roofs.

                         

Community Development Support Association, based in Enid, will receive $250,000 to install cool roofs.

                         

Delta Community Action Foundation, located in Lindsay, will receive $350,000 to install hot water systems, cool roofs, and community-based social marketing.

                         

Great Plains Improvement Foundation, based in Lawton, will receive $250,000 to install cool roofs and high-performance hot water systems.

                         

Little Dixie Community Action Agency, located in Hugo, will receive over $200,000 to install cool roofs and high-performance hot water systems.

                         

Northeast Oklahoma Community Action Agency, based in Jay, will receive nearly $300,000 to install cool roofs and solar furnaces and to establish community-based social marketing.

                         

Southwest Oklahoma Community Action Group, located in Altus, will receive nearly $500,000 to install hot water systems, solar photovoltaics, residential wind systems, and cool roofs and to establish community-based social marketing.

 

(Source: OWHAC)

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Childhood Poverty Persistence: Facts and Consequences

Posted by neocaablogger on August 17, 2010

The U.S. child poverty rate has fluctuated between 15 and 23 percent for
the past four decades, but far more children—37 percent—live in poverty
at some point during their childhoods. Being poor at birth strongly
predicts future poverty status. Using the PSID, this study finds that 49
percent of children who are poor at birth go on to spend at least half
their childhoods living in poverty. In addition, children who are born
into poverty and spend multiple years living in poor families have worse
adult outcomes than their counterparts in higher-income families. http://www.urban.org/uploadedpdf/412126-child-poverty-persistence.pdf (Source: Urban Institute and DocuTicker.com)

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Affordable Homes for Sale Miami, OK

Posted by neocaablogger on August 11, 2010

Looking to buy an affordable energy efficient home in Miami, OK?  NEOCAA has newly constructed 3 bedroom, 2 bath homes for sale! Asking price $65,000! Call 918-253-4683 ext. 30  today to see if you qualify.

325 A st. SE 325 A Street SE
600 Oak st. NW 600 Oak St. NW
 

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Cowboy Entrepreneurs Bootcamp Register Now

Posted by neocaablogger on August 5, 2010

The Cowboy Bootcamp for Entrepreneurs is a program for dreamers and doers offered by the Riata Center for Entrepreneurship and the OSU School of Entrepreneurship at the OSU-Tulsa campus. Like a bootcamp, it is focused, intense and packed with useful material. Building from key elements of OSU’s entrepreneurship curriculum, the Cowboy Bootcamp is a series of modules designed to assist entrepreneurs and aspiring entrepreneurs in growing businesses successfully and profitably. The Cowboy Entrepreneurs Bootcamp will be held at the OSU-Tulsa Campus over six Saturdays: Oct. 9, 16, 23, 30 and Nov. 6, 13. Visit the 2010 Cowboy Entrepreneurs Bootcamp website for full program details and to register online. Online Registration Now Available!
Learn how to start and grow a successful business at the 2010 Cowboy Entrepreneurs Bootcamp.

 

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List of Nonprofits at Risk of Losing IRS Tax Exempt Status

Posted by neocaablogger on August 4, 2010

Over 4,000 nonprofits based in OK are at risk of automatic loss of their tax exempt status due to failure to file ony of the Form 990 series. Is your organization and/or affiliated entity on the list? Click here for a list of OK entities: http://www.irs.gov/pub/irs-tege/ok.xls
 
Earlier this week the IRS issued guidance http://www.irs.gov/charities/article/0,,id=225705,00.html providing relief to small charities that had missed the deadline to file Form 990-N or Form 990-EZ for the past three years. Under this voluntary compliance program, small charities following the procedures announced by the IRS may be able to maintain their charitable status if they file the form prior to October 15th, complete a checklist and pay a small fee (between $100-$500). This guidance may be welcome news to some of your smaller grantees who missed their filing deadlines.

 

Note that the IRS includes some warnings about its list. In particular they state: " The list may be incomplete, as certain organizations may be at risk even though their names do not appear. In addition, the list may include organizations that were required to file Form 990 or Form 990-PF and are not eligible for the relief program and organizations whose filing dates have not yet occurred." While the list may not be perfect, it will give you a good idea of what the IRS records show. 
 

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June Management Report

Posted by neocaablogger on August 3, 2010

Check out what we did in June and our plans for the future. Click the following link:

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