Assets for Independence Demonstration Program

Funding Agency:
Administration for Children and Families

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.

This is a standing announcement. It will be effective until cancelled or changed by the Director of OCS.

Deadlines: Jun. 15, 2015; Dec. 15, 2015; May 13, 2016; Oct. 31, 2016; Apr. 3, 2017

Agency Website

Amount

$5,000,000

Amount Description

Award Ceiling: $1,000,000 Per Project Period
Award Floor: $10,000 Per Project Period
Average Projected Award Amount: $225,000 Per Project Period
Anticipated Project Start Date: 09/30/2015

Length of Project Periods:

Other

Both the project and budget periods are for five years (60 months).

Funding Type

Grant

Eligibility

Faculty

Category

Social Sciences

External Deadline

October 31, 2016