Opportunity Information: Apply for HHS 2015 ACF OCS EI 1005
The Assets for Independence Demonstration Program is accepting applications for grants aimed at helping low-income individuals build financial assets through individual development accounts (IDAs). These accounts allow participants to save their earned income, which is then matched by project funds to support specific goals such as purchasing a first home, starting a business, or furthering education.
Grantees are encouraged to customize their services to meet the unique needs of participants and their communities, which may include financial education, credit counseling, and assistance with tax preparation. To apply, organizations must secure federal funding alongside equal or greater amounts of non-federal cash contributions, with documentation of these non-federal funds required in the application. The recent update to the program also includes a list of new Promise Zone designees, marking a significant step in expanding the program's outreach.Apply for HHS 2015 ACF OCS EI 1005
- The Administration for Children and Families OCS in the income security and social services sector is offering a public funding opportunity titled "Assets for Independence Demonstration Program" and is now available to receive applicants.
- Interested and eligible applicants and submit their applications by referencing the CFDA number(s): 93.602 Assets for Independence Demonstration Program.
- This funding opportunity was created on May 1, 2015 and posted on Apr 8, 2015.
- Applicants must submit their applications by Jun 15, 2015 Electronically submitted applications must be submitted no later than 1159 p.m., ET, on the listed application due date.. (Agency may still review applications by suitable applicants for the remaining/unused allocated funding in 2025.)
- The funding agency has allocated a total of $11,250,000.00 to eligible and selected applicants.
- Each selected applicant is eligible to receive up to $1,000,000.00 in funding.
- The number of recipients for this funding is limited to 35 candidate(s).
- Eligible applicants include: Native American tribal organizations (other than Federally recognized tribal governments) Nonprofits that do not have a 501(c)(3) status with the IRS, other than institutions of higher education City or township governments Special district governments Others (see text field entitled Additional Information on Eligibility for clarification) Small businesses State governments Public housing authorities/Indian housing authorities Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education County governments Independent school districts Public and State controlled institutions of higher education Native American tribal governments (Federally recognized) For profit organizations other than small businesses Private institutions of higher education.
- 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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