So You Want to Do IDAs?

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So You Want to Do IDAs?

• Starting Your Own Program
• Megan ONeil
• WID

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World Institute on Disability
The World Institute on Disability (WID) is a
nonprofit research, public policy, and advocacy
center dedicated to promoting independence and
full societal inclusion of people with
disabilities.
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WIDs Access to Assets Program
Access to Assets (ATA) bridges the asset
building and disability communities to improve
the economic status of individuals with
disabilities. Toll-Free Hotline[phone]
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Individual Development Accounts

• What are IDAs?
• Matched savings accounts
• Save for education, homeownership, or starting
  their own business.
• Accountholders typically receive financially
  education and counseling.
• Who Qualifies for an Individual Development
  Account?
• earned income
• 200 of poverty level
• Other requirements (vary by program)

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IDAs Disability Benefits

• Federally funded IDAs are exempt from asset
  calculations on ALL benefit programs- SSI,
  Medicaid, food stamps, etc
• Non-federally funded IDAs count unless included
  as part of a PASS plan
• Contributions deduct from countable income

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So You Want To Start an IDA Program?

• Feasibility Assessment
• Determine s of Eligible Participants
• Funding
• Partnering Organizations
• Program Design
• Technical Support
• Capacity

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Funding Foundations

• Annie E. Casey Foundation
• Charles Stewart Mott Foundation
• Citigroup Foundation
• Ewing Marion Kauffman Foundation
• Fannie Mae Foundation
• F. B. Heron Foundation
• The Ford Foundation
• Joyce Foundation
• Levi Strauss Foundation
• John D. and Catherine T. MacArthur Foundation
• Moriah Fund
• Peninsula Community Foundation
• Rockefeller Foundation
• W. K. Kellogg Foundation

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Funding AFIA

• Assets for Independence Act (AFIA)
• Office of Community Service, Department of
  Health Human Services
• http//www.acf.hhs.gov/assetbuilding/applying.html
  
• June 15th is next Due Date

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Funding Recommendations

• Dont Be Intimidated!
• Not all participants are eligible
• Go Local- contact area Banks, Charities,
  Philanthropic individuals
• Find local organizations/individuals to donate
  time
• -Teach financial literacy classes
• -Banks may not contribute funds, but may
  manage accounts
• -Business owners to serve as mentors

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Financial Institutions

• Credit Unions
• Citibank
• JP Morgan Chase
• Bank of America

• Compass Bank
• Whitney Bank
• Hibernia Bank
• ShoreBank
• Washington Mutual

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Program Design Recommendations

• AFIA Funding
• Good fit for self-employment
• Leverage other sources of operating funds
• Collaborate with other organizations to offer
  financial literacy asset specific training

• Private/State Funding
• Flexibility in Allowed Assets
• -vehicles, computers, assistive technology
• Consider developing a matched PASS-like IDA
  (allowing SSI/SSDI to count)
• Asset Limits of SSI/Medicaid

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So You Want to Start an IDA Program?

• Resources
• IDA Collaboratives Toolkit http//www.idanetwork.
  org/resources/docs/publications/ida_collaborative_
  toolkit.pdf
• IDA Program Design Handbook-Fourth Edition is
  available in PDF format on CD-ROM, along with IDA
  resources and a trial copy of MIS IDA. Price
  25.00
• IDANetwork Program Design Resources
  http//idanetwork.cfed.org/index.php?sectionresou
  rcespageida_program_design.html

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EQUITY Disability and Asset Building
Communities Working Together

• Recent EQUITY topics
• Youth with Disabilities
• Making Tax Time Pay
• Latinos with Disabilities
• Entrepreneurs with Disabilities
• Intersection Between Benefits Programs and Asset
  Building

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WID Access to Assets Contacts

• Kathy Martinez kathy_at_wid.org
• 510-251-4326
• Megan ONeil megan_at_wid.org
• 510-251-4341
• Toll Free Technical Assistance Hotline
• 1-866-723-1201

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IDAs are harder then you think.

• Abby Cooper
• Washington State
• DVR

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Know who can help you

• Talk to people in your State who have started an
  IDA program or are interested in being involved.
• Community Development Corporations (CDC)
• Community Action Agencies (CAA)
• Community Action Partnership (CAP)
• Public Housing Authorities (PHA)
• Elected Officials
• MIG
• Transformation Grants
• AFIA organizations
• One stop centers

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Build your support boarder then just your agenda

• The disability community professionals have
  not been part of the poverty conversations.
• In order to establish support and networks
  must be willing to broaden your focus.
• Learn from what other programs have already
  tried and succeed or failed at.
• Partner on the creation of needed materials.
• Work collaboratively on issue that impact
  asset building in your State- predatory
  lending, pay day loans, credit scoring,
  resource limits.

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The Match is difficult

• IDAs are expensive to run
• People, corporations, foundations will not be
  falling all over you to give you money
• Can not draw down your federal with your match
• Be creative where you look for support

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Need to have an overall plan for match dollars

• DVR can use its Social Security reimbursement
  dollars to support IDAs
• In Washington State at least one One-stop
  supports IDAs.
• MIG funding can support marketing, training, and
  focus groups.
• Mental Health Transformation Grants

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Barriers with disability organizations

• The current disability system is built on the
  delivery of services, not helping people get out
  of poverty.
• You will have to educate organizations, most do
  not view asset building as their role.
• Many people with disabilities will not trust what
  you are offering.

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Barriers

• Fiscal literacy is critical
• Many people will numerous public benefit rules
  and resource limits they need to follow, be sure
  you or someone in your organization understands
  all of these rules.
• Do not assume that benefit planners understand
  asset building.
• If someone is doing a PASS and an IDA be sure
  they are receiving good fiscal support.

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Self-employment and IDAs

• Do not expect everyone will want an IDA.
• Start small
• Know who will do the case management
• Know where you envision the IDA fitting into the
  self-employment planning and implementation
  process
• A support group of IDA account holders can be
  very useful

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Contact information Abby Cooper (206)
273-7114 Coopea_at_dshs.wa.gov