Assets for Independence Demonstration Program

This FOA has been modified to update the Assets for Independence reporting requirements listed in Section VI.3. Reporting. 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...

The Assets for Independence (AFI) program is authorized to award grants to the following entities: all non-profit entities with 501(c)(3) status; state or local government agencies, or tribal governments, applying jointly with a non-profit with 501(c)(3) status; financial institutions that are federally certified as either a Low-Income Credit Union or a Community Development Financial Institution and that demonstrate a collaborative relationship with a local community-based organization whose activities address poverty in the community and the needs of community members for economic independence and stability; and entities deemed eligible under Section 405(g) of the AFI Act. Governmental entities: If a governmental entity applies jointly with an entity with 501(c)(3) status, either entity may be the official applicant that will be responsible for grant administration and AFI project implementation if an award is made. Regardless of which entity is the official applicant, documentation of 501(c)(3) status of the non-governmental joint applicant is required to establish eligibility, and applications submitted by joint applicants must include a signed agreement between these entities. Other entities, including nonprofits without 501(c)(3) status and for profit entities, are only eligible for AFI funding if they satisfy the requirements for either a Low-Income Credit Union or a Community Development Financial Institution. Faith-based and community organizations that meet the eligibility requirements are eligible to receive awards under this funding opportunity announcement. Faith-based organizations are encouraged to review the ACF Policy on Grants to Faith-Based Organizations at: http: //www.acf.hhs.gov/acf-policy-on-grants-to-faith-based-organizations. Applications from individuals (including sole proprietorships) and foreign entities are not eligible and will be disqualified from competitive review and from funding under this announcement.

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