- Listed: January 27, 2019 5:58 pm
- Expires: 999031 days, 8 hours
Assets for Independence (AFI) is a community-based approach for giving low-income families a hand up out of poverty. Utilizing existing individual and community assets, AFI strengthens communities from within through the use of matched savings accounts called Individual Development Accounts (IDAs). Through financial education, AFI demonstrates the use and impact of IDAs to help low-income individuals move toward greater self-sufficiency.
AFI’s main initiatives include:
- Awarding grants to non-profit organizations and government agencies that provide IDAs
- Managing a national resource center to support AFI grantees and develop information on the use of IDAs and related asset-building strategies
- Managing research on IDA usage and implementation
Assets for Independence Program grants are awarded on a competitive basis. Non-profit organizations including faith-based organizations are eligible to apply. State, local and Tribal governments are also eligible to apply. Grantee organizations manage programs that help clients establish IDAs and accumulate assets for the long-term.
Please click here additional eligibility information.
For more information on how to apply, please visit the Prospective AFI Grantee page.
|Catalog of Federal Domestic Assistance (CFDA) Number||93.602|
|Current Method of Tribal Eligibility||Program not specific to American Indians and Alaska Natives, but they are eligible|
|Can the funding from the program be renewed||No|
|Entities Eligible for Grant Assistance||Other Tribal and Native Entities|
|Matching Funds Required||Yes|
|Number of People Served by this Program (Approximate)||El concesionario determinará cuántas personas serán atendidas.|
|Length of Program||Grant award period is for five years.|
|Recurring Base Funding for Tribes||No|
|Do Tribes compete with other entities for funding from the program?||Yes|
|Tribes Funded by this Program||Each organization receives one grant per funding cycle.|
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