[Natfinwellness] Funding Opportunity: Assets for Independence (AFI) Program

[Mitran, Andreea]

Funding Opportunity: Assets for Independence (AFI) Program


The Administration for Children and Families (ACF) Office of Community Services (OCS) is seeking applications for the Assets for Independence (AFI) demonstration program.

AFI enables community-based nonprofits (including colleges and universities), financial institutions, and government agencies to implement asset building projects serving low-income individuals and their families.

AFI grantees enroll participants to save earned income in special-purpose, matched savings accounts called Individual Development Accounts (IDAs).  Every dollar that a participant deposits into an AFI IDA is matched (from $1 to $8 in combined federal and non-federal funds) by the AFI project, promoting savings and enabling participants to acquire a lasting asset.

AFI participants use their IDAs and matching funds for one of three allowable assets:

- Fund post-secondary education or training.
- Purchase a first home; or
- Capitalize or expand a business for self-employment.

AFI grantees also assist participants in obtaining the skills and information necessary to achieve economic self-sufficiency such as through financial capability/literacy classes. Grantees are encouraged to tailor the strategies and services they offer to the needs of their project participants and the opportunities in their community. The awards of up to $1 million cover a 5 year project period.

Upcoming Application Deadlines: October 11, 2016 and April 3, 2017


- Webinars and other assistance for potential applicants is posted on the AFI Resource Center website at http://idaresources.acf.hhs.gov/Home



- View the AFI Funding Opportunity Announcement at https://www.acf.hhs.gov/grants/open/foa/index.cfm?switch=foa&fon=HHS-2015-ACF-OCS-EI-1005



If you have any questions, please contact the AFI Resource Center at info at idaresources.org

Best,

Andreea Mitran
AFI Resource Center
info at idaresources.org
1-866-778-6037

www.idaresources.acf.hhs.gov

-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://lists.osu.edu/pipermail/natfinwellness/attachments/20160726/dfb424bb/attachment-0001.html>