Perspectives2014 Year in Review Botting Group Offers More Than Just Work Experience Page 8 Speaking from Experience: the Real Cost of Payday Loans Page 14 The 2014 Financial Perspective Self-Generated City of Calgary Momentum Income 2014 Revenue 14.4% 8.3% Total Revenue $6,738,132 Provincial Government Corporate 18.2% Donations 13.7% 3.2% Federal 7.7% Government Individual Donations 11.2% 23.3% United Way Public & Private Foundations Payables Deferred Revenue 17.2% Momentum 23.6% 2014 Liabilities & Reserves Capital Total Assets $5,340,727 Fund 6.3% Investment in Strategic 2.9% 3.6% Fixed Assets Fund 14.5% Loan Funds 31.9% Sustainability Fund Full audited financial statements available at www.momentum.org | MOMENTUM 2014 YEAR IN REVIEW Inside Welcome to the 2014 Year in Review. This year, we are telling Momentum’s story from a variety of perspectives within our community. We hope you enjoy them. 2 Three Assets of a 10 Five Aspects of Resilient Organization Community Economic Development 4 The Value of 12 The Power of Partnership Contribution 6 In the Business of 14 Lending a Voice Developing Strength for Change 8 Building Careers 16 Building on our Together Solid Foundation Our thanks 133 volunteers donated more than 1890 hours of their valuable time. Board of Directors: Ted Braun, Gail Boehm, Greg Pocherewny, Glenn Boyd, Dustin Owen, Francis Boakye, Marichu Antonio, Meenu Ahluwalia, Don Thurston, Rachel Moore, Caroline Fairbrother, John Cobb Community Champions: Al Duerr, Jim Gray, Martin Molyneaux, Pat and Sherrold Moore Participant Ambassadors: Timothy Afolayan, Toni Boss, Olga Cojocaru, Necole Hines, Bob Patrick Congratulations to the Business Development 211 community partner organizations helped us extend the reach of our work, including department on Action to End Poverty in Alberta, Immigrant Access Fund Society, Thrive–Calgary’s Community 20 successful years Economic Development Network, Vibrant Communities Calgary, SAIT Polytechnic, of building a strong Calgary Alternative Support Services. local economy! 54 staff members partnered with people living on low incomes to increase prosperity, and inspired the development of local economies with opportunities for all. MOMENTUM 2014 YEAR IN REVIEW | 1 “No one is a bigger supporter of Walter than Jeff.” – Jim Gray Three Assets of a Resilient Organization aving reflected on his their problems for them. It’s messy leadership of Momentum “Momentum today has and it takes time, but we know it Hover the past 23 years, significant clout. Doing works. Walter Hossli identifies three These three characteristics guided enduring assets that helped make our work with participants, the recent transition process. The Momentum the success it is today: doing it with integrity, transition saw Jeff Loomis step persistence, consistency and keeping at it, and now into Walter’s position while Walter hosting. being able to influence stepped into everything he will It requires persistent effort to do next. The overall process took build a thriving organization— municipal and provincial two and a half years of thoughtful, creating excellent programs, policies—it’s still humbling inclusive planning and action. building a stable financial and to me, still surprising.” The transition plan allowed administrative foundation, Momentum to be persistent in developing resilient relationships – Walter Hossli spite of ambiguity. It provided a with staff, participants and consistent message for donors community partners. and funders, staff and community Successful organizations also partners. And by being so inclusive, require consistency. It is all too easy leaders as a loss of control. Just as it honoured the ongoing hosting role to be pulled in different directions in community economic development of Momentum’s leader. times of great change and urgency. recognizes the wealth of assets We wish Walter well with all he In Momentum’s case, our strategic within communities, so host has planned. He continues to be an map provides consistent direction leaders tap into the wealth of vision, ambassador for Momentum and a as we choose which opportunities to experience and motivations of those mentor to Jeff, and we know he is pursue and which to let go. around them. happy to have more time to focus on Being persistent and consistent Under Walter’s hosting leadership, gardening and growing food. through good times and bad has Momentum has become a hosting As you will see in this report, allowed the organization to gain organization. We map out viable 2014 was another successful year for momentum manageably and with and sustainable strategies together. Momentum from all perspectives. conscious control. We build relationships with our The resilient foundation built over The third asset Walter named, community and invite people to the 23 years allows us to move into the hosting, is perceived by some table instead of promising to solve future with confidence. Momentum Founder and Director Emeritus Walter Hossli (seated) took on a new role at Momentum in 2014, with Jeff Loomis taking on the role of executive director. MOMENTUM 2014 YEAR IN REVIEW | 3 “Financial empowerment changes lives and builds futures.“ – Stacie Baker Stacie Baker, Financial Aid Officer at Bow Valley College and financial literacy champion. The Value of Partnership ow Valley College is Alberta’s help them overcome the financial intervene early in that cycle. She fastest growing college, barriers they face—barriers that found it when she discovered Bcommitted to nurturing can mean the difference between Momentum’s Financial Literacy the lifetime achievements of its finishing school and not. programs. students. It begins by helping Government aid, while helpful Stacie is very clear about the value them succeed in school through and welcome, does not always of partnering with Momentum. the counselling, scholarships and guarantee the students’ financial “Financial literacy is an essential financial aid provided by its Learner wellness. “Students can access life skill. It addresses and resolves Success Services. That’s where financial aid and bursaries,” Stacie root issues, and has a ripple effect Stacie Baker shines. says, “but if they don’t learn how through generations. It empowers Stacie’s passion is to make a to manage the money, they stay in people, brings confidence and difference in people’s lives. She the vicious cycle of debt and debt pride, and is a stepping-stone to wants to see students succeed. collection.” independence. I recommend these That’s why she’s so determined to Stacie wanted to find a way to programs to everyone.” 4 | MOMENTUM 2014 YEAR IN REVIEW Ella Miles Herman recently opened an RESP for her son Hunter at the first Bow Valley College RESP event. Learning Stacie and her co-workers took Momentum’s Money Management Train-the-Facilitator program in 2013. Today, information about financial literacy is a regular part of conversations about financial aid and bursaries, and coaching is always available. Once a semester, the College offers a one-day Budget Boot Camp free to all new students. Budget workshops are being integrated into regular classes. And evaluations from students have been overwhelmingly positive. Financial Literacy at Momentum in 2014 Money Money Matters Matched Savings StartSmart Management Free financial literacy A suite of programs ranging from A free two-hour workshop A series of free two- workshops designed around six to 12 months in length, designed that explains the hour workshops on the unique needs of people for people of all ages. Participants importance of saving for budgeting, banking, living with mental health attend free workshops to learn children’s post-secondary credit, assets and or addiction challenges. the basics of financial literacy. For education. Participants consumerism. Offered in partnership every dollar they save, they will earn learn how to open an RESP with Calgary Alternative matching dollars to put toward the and receive funding from Support Services. purchase of an asset or savings. the government. 1,500 154 190 participants 400 RESPs participants participants purchased 266 assets were opened Building Providing Next, Momentum’s matched-savings programs caught As a parent herself, Stacie was sure that students Stacie’s eye. She understood that building assets is crucial would appreciate Momentum’s StartSmart Program. to moving out of poverty. Stacie put her post-secondary The program helps parents open Registered Education brain to work designing a program that would work in a Savings Plans (RESPs) by using government grants, college context. which are available even if parents do not have their The Matched-Savings Bursary was piloted in the fall. own funds to contribute. Students received money-management training and have Stacie attended Momentum’s StartSmart Training their savings matched by the College 3 to 1. There were and, in November, the College hosted its first annual nine students in that first class and all of them saved the RESP sign-up event. Over 100 people attended and six monthly maximum of $50—“More bang for their buck,” financial institutions helped families open 40 RESPs, Stacie says—giving them each $800 to spend on anything accessing an estimated $40,000 to provide for their that would help their education, from tuition to childcare. children’s future education. MOMENTUM 2014 YEAR IN REVIEW | 5 Helga Bender offers coaching and support to help people heal from loss. In the Business of Developing Strength he year 2006 is a good place when he was hit by a driver going But after his death, Helga could to start the story of Helga 120kph in the right-hand-turn lane. barely walk, never mind run. TBender’s business. Not that it From one moment to the next, Not once in the years and trial was a good year. In fact, 2006 tested the world lost a caring young man, a that followed did the driver express Helga almost beyond bearing. humanitarian who wanted to make any remorse.