Grants – Assets for Independence Demonstration Program

Assets for Independence Demonstration Program

HHS-2015-ACF-OCS-EI-1005


Summary

Funding Oppportunity Title: Assets for Independence Demonstration Program
Funding Opportunity Number: HHS-2015-ACF-OCS-EI-1005
Program Office: Office of Community Services
Funding Type: Discretionary
Funding Instrument Type: Grant
Announcement Type: Modification
CFDA: 93.602
Post Date: 05/01/2015
Application Due Date: 06/15/2015

Description

This announcement has been modified.  Eight second round Promise Zone designees were announced on 4/28/2015, and these designees have been added to the Appendix listing of Promise Zones.   

The Administration for Children and Families (ACF) Office of Community Services (OCS) will be accepting applications for grants to administer projects for the Assets for Independence (AFI) demonstration program.

AFI grantees administer projects that provide individual development accounts (IDAs) and related services to low-income individuals. Participants open an IDA and save earned income that is matched by project funds. The combined participant savings and project matching funds will be used for an allowable asset: a first home, a business, or post-secondary education or training. Projects also assist participants in obtaining the skills and information necessary to achieve economic self-sufficiency.  Grantees are encouraged to tailor the strategies and services they offer to the needs of their project participants and the opportunities in their community. Examples of activities in this area include financial education, asset-specific training, financial coaching, credit-building services, credit/debt counseling, and assistance with tax credits and tax preparation.

AFI projects must be funded with a combination of the federal AFI grant and cash from non-federal sources. The amount of cash from non-federal sources must be at least equal to the federal AFI grant amount. Applicants must provide documentation of commitment of non-federal funds in their application.  Specific requirements for this documentation will be included in the funding opportunity announcement.

Current Announcement File

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