This announcement has been modified.
In Section IV.3. Submission Dates and Times, the due date for applications has been changed to 6/07/2013.
The Administration for Children and Families (ACF) is requesting applications for grants to administer projects for the national Assets for Independence (AFI) demonstration of the use and impact of Individual Development Accounts (IDAs) and related services. Grantees will provide an array of supports and services to enable individuals and families with low incomes to become more economically self-sufficient for the long-term. A primary feature of each AFI project is that project participants are given access to special matched savings accounts called Individual Development Accounts (IDA). Participants open an IDA and save earned income in the account regularly with the goal of accumulating savings to acquire an economic asset that will appreciate over time -- specifically, to purchase a home, capitalize or expand a business for self-employment, or attend higher education or training. Grantees also ensure that participants have access to financial literacy education and coaching such as training on money management and consumer issues.
Grant recipients must finance the projects with a combination of the Federal AFI grant and non-Federal cash. The non-Federal cash amount must be at least equal to the Federal AFI grant amount.
Applications will be screened and evaluated according to requirements and criteria stated in this announcement. Unsuccessful applicants may submit new applications in any succeeding application cycle.
This is a standing announcement, which will be effective until cancelled or changed by the Director of the Office of Community Services (OCS). There are multiple funding cycles in each of Federal Fiscal Years 2011, 2012, 2013, with application due dates for each cycle.