Individual Development Account (I.D.A.) Program Orientation is an asset building program designed to help low-income families build wealth through asset building. The program provides an 8:1 match for Education ($500 must be saved by the participant);, 4:1 match for Business ($1,000 must be saved); 2:1 match for home purchase (participant must save $2,000). All participants must be in the program for at least six months before funds can be spent.
The IDA orientation will provide information on eligibility requirements, process flow, program expectations, ending with a question and answer session.
Participants must be residents of Broward County and at least 18 years of age.
Members of the household must be eligible for Temporary Assistance to Needy Families (TANF), Earned Income Tax Credit (EITC) or have an adjusted gross income that is less than twice the federal poverty guidelines at the time of application. (See chart included)
Participants must be employed for at least three (3) months.
Must be able to save a minimum of $50 per month. (3 consecutive months of bank statements must be submitted).