Our Individual Development Accounts Program has 76 current savers, with 197 assets purchased since 2008.
Saving money for future needs can be difficult for people struggling to keep up with daily living expenses and current bills. While there are many helpful programs that put food on the table or cover immediate needs, they don’t move people out of poverty – but Share’s Individual Development Account (IDA) Program can help.
What is an Individual Development Account (IDA)?
IDAs are bank savings accounts for a future asset. Participants, over the course of two years, will save up to $1,000 to be used as a down payment on the purchase of a home, to start a business, or to pursue higher education. The program provides a 4:1 match to put toward these assets. And asset accumulation can help people move out of poverty.
(Note: Federal funds for the IDA Program are received from Assets for Independence (AFI) and local County dollars via a grant from the Clark County Dept. of Community Services.)
The Share IDA Program is not currently accepting applications to save for a Business, Home or Secondary Education. There are current openings for Clark College only. Interested Participants who fill out the form below will be placed into a priority pool and contacted in the event of future openings. Thank you.
How the program works:
- Applicant must be a current resident of Clark County, Washington
- Applicant’s earned income must be 200% of the Federal Poverty Level or below
Persons in Household Annual Income (Max for 2019)
- Participant must have income sufficient to make consistent monthly deposits of $25
- Participant must complete 4 financial education classes within 2 years, plus 2 hours of asset-specific education or counseling. Participants will also complete personal monthly budgets.
For complete program details, please click the link below:
Share’s Individual Development Accounts (IDA) Program Overview
Click here if you are interested in applying to Share’s IDA Program.
To see if the IDA Program is right for you, contact: Jennifer Mitchell, IDA Program Coordinator, (360) 952-8204 or email@example.com.
Additional program restrictions apply.
A grant from Assets for Independence (AFI), a program of the U.S. Department of Health and Human Services, funds approximately 50 percent ($500,000) of costs for Share’s IDA program. The remaining 50% ($500,000) is funded through non-Federal sources. Visit the AFI Resource Center website to learn more about the program and about helping families to build assets: www.idaresources.org.
A five-year, $300,000 grant from Assets for Independence (AFI), a program of the U.S. Department of Health and Human Services, will fund this Clark College Foundation partnership through Share’s IDA Program.
The Clark County Asset Building Coalition
The Clark County Asset Building Coalition is a group of non-profit organizations, private market financial institutions and local government agencies in Clark County dedicated to financially preparing people to succeed by offering education and tools for the purpose of building assets. The coalition is currently coordinated by Metropolitan Family Services.