Assets for Independence Demonstration Program

The summary for the Assets for Independence Demonstration Program grant is detailed below. This summary states who is eligible for the grant, how much grant money will be awarded, current and past deadlines, Catalog of Federal Domestic Assistance (CFDA) numbers, and a sampling of similar government grants. Verify the accuracy of the data FederalGrants.com provides by visiting the webpage noted in the Link to Full Announcement section or by contacting the appropriate person listed as the Grant Announcement Contact. If any section is incomplete, please visit the website for the Administration for Children and Families OCS, which is the U.S. government agency offering this grant.

Assets for Independence Demonstration Program: This announcement is modified. Please note: ACF now requires electronic application submission via www.Grants.gov. Section IV.2. Content and Form of Application Submission, Budget and Budget Narrative, now states that the narrative budget justification must provide a breakdown for the 15% administrative costs for the entire project period (i.e. 5 years). Activities that may be funded by AFI monies (beyond the minimum 85% for IDA savings match): Financial education and related costs for participants opening an AFI-funded IDA; General program administrative costs (not more than 7.5% of AFI grant budget); and Data Collection for OCS-AFI administered evaluations (at least 2% of AFI grant budget). The Administration for Children and Families (ACF) is requesting applications for grants to administer projects for the national Assets for Independence (AFI) demonstration of the use and impact of Individual Development Accounts (IDAs) and related services. Grantees will provide an array of supports and services to enable individuals and families with low incomes to become more economically self-sufficient for the long-term. A primary feature of each AFI project is that project participants are given access to special matched savings accounts called Individual Development Accounts (IDA). Participants open an IDA and save earned income in the account regularly with the goal of accumulating savings to acquire an economic asset that will appreciate over time -- specifically, to purchase a home, capitalize or expand a business for self-employment, or attend higher education or training. Grantees also ensure that participants have access to financial literacy education and coaching such as training on money management and consumer issues. Grant recipients must finance the projects with a combination of the Federal AFI grant and non-Federal cash. The non-Federal cash amount must be at least equal to the Federal AFI grant amount. Applications will be screened and evaluated according to requirements and criteria stated in this announcement. Unsuccessful applicants may submit new applications in any succeeding application cycle. This is a standing announcement, which will be effective until cancelled or changed by the Director of the Office of Community Services (OCS). There are multiple funding cycles in each of Federal Fiscal Years 2011, 2012, 2013, with application due dates for each cycle.