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Successful Ida Proposal

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					 Welcome!
AFI Program Overview & Grant
     Application Process
AFI Orientation and Overview

 • First of series of four webinars
    –   Overview and Application Process
    –   Non-federal Cost Share
    –   Project Design and Implementation Part 1
    –   Project Design and Implementation Part 2
 • All topics are repeated and downloadable
 • Schedule, registration and download
   application kit and other links at:
    http://www.acf.hhs.gov/programs/ocs/afi/afi_calendar.html




                                                                2
AFI Orientation and Overview
 • If you have technical difficulties with hearing or
   viewing this presentation, please press *0 or
   contact:
    – Stephanie Dodge
    – 703.279.6256
    – SDodge@icfi.com
 • If you have not received materials, contact the
   AFI Resource Center:
    – afiprogram@acf.hhs.gov;
    – 202-401-4626
    – The call will be recorded and posted at:
      http://www.acf.hhs.gov/programs/ocs/afi/outreach_presentatio
      ns/grant_application_presentation.html


                                                                     3
AFI Orientation and Overview

 • Materials for this call downloadable from:
     http://www.acf.hhs.gov/programs/ocs/afi/outreach_presentations/grant
     _application_presentation.html

   – This presentation
   – Project Builder
   – Application Kit
   – Program Announcement
 • Contact AFI Resource Center for
   materials or for follow up questions:
    afiprogram@acf.hhs.gov; 202-401-4626

                                                                            4
Preview

•   Asset Building
•   Individual Development Accounts
•   Assets for Independence Program
•   AFI Projects
•   Applying for Funding




                                      5
“Few people have ever spent their way out of poverty.
Those who escape do so through saving and investing
for the long-term.”

“Income may feed their stomachs, but assets change
their heads.”

                                         Michael Sherraden
                             Center for Social Development




                                                         6
Economic Assets Matter
 •   Stronger, Healthier Families
 •   Enhanced Self-Esteem
 •   Long-term Thinking and Planning
 •   More Community Involvement
 •   Hope for the Future




                                       7
Support for Asset Building
 • Federal government supports asset-
   building across income levels
   –   Homeownership Support
   –   Small Business Development
   –   Education / Careers
   –   Individual Development Accounts




                                         8
Individual Development Accounts
 • Specialized savings account designed to help low-
   wealth Americans acquire an appreciating asset.
   Accountholders deposit savings in their account and
   that saving is matched by host agency.
 • Designed to enable and encourage accountholders
   to save on a regular basis and acquire their asset.
 • While accountholders build savings and match, they
   also receive financial education and asset-specific
   training to help prepare them to take best advantage
   of the opportunity at hand.



                                                          9
IDAs: A Hand-Up To Self-Sufficiency



                              Self-
                           Sufficiency
             Transform
              to Assets

  Save

                                         10
Assets for Independence
Special federally funded 5-Year projects that enable
accountholders to ...
 • Learn about financial and consumer issues
 • Save in Individual Development Accounts
 In order to …
    • acquire a first home
    • access higher education or training and/or
    • start or support a small business
    • save to transfer to an eligible dependent


                                                       11
AFI Participants

 •   368 active AFI Projects; 258 organizations
 •   Nearly 44,000 IDA accounts and growing
 •   $36.8 Million saved in AFI IDAs
 •   13,000+ asset purchases
 •   76% of participants are women
 •   75% households with children
 •   44% African American; 27% White; 18%
     Hispanic



                                                  12
AFI Projects

 • Multi-purpose non-profits that provide
   a menu of services for low-income
   families (single agency)
 • Public/Private Partnerships including
   state, local or tribal governments
 • Multi-site networks
 • Find a project near you by going to:
   http://www.acf.hhs.gov/assetbuilding/states.html



                                                      13
Single Agency Project




                       c m
                   Q ui kTi e™ and a
               TI FF ( L ZW ) dec om pr ess or
                                      s c
            ar e nee ded t o s ee t h i p i t ur e .




                                                       14
AFI Network Project




                      15
Participant’s Perspective
Example: “Kim”
• Kim needs a home
• Housing program requires $6,000 for down payment
  and closing costs
• Financial Education, debt counseling and information
  about home ownership
• Match rate of $2 for every $1 saved in her IDA
• Kim saves $2,000: $55/month over 3 years




                                                         17
Kim’s IDA

                            $2000
  $2,000 Kim Saves          Savings

         $2,000 Federal
                             $4000
                            Matching
           $2,000 Non-Fed



                            $6000 for
                              Home


                                        18
Example: “Bill”
 • Bill is looking to start a new business
 • He needs $5,000 in capital
 • Financial Education, debt counseling and training in
   starting and operating a business
 • Match rate of $4 for every $1 saved in his IDA
 • Bill saves $1,000 -- $42/month over 2 years




                                                          19
Bill’s IDA

                             $1000
  $1,000 Bill Saves          Savings

         $2,000 Federal
                              $4000
                             Matching
            $2,000 Non-Fed


                             $5000 for
                               Small
                             Business

                                         20
Accountholder Responsibilities and Benefits
• Responsibilities              • Benefits
   – Deposit savings              – Develops long-term
     consistently                   savings habit
   – Complete financial &
     asset-specific education     – Gains financial ed and
                                    asset-specific
   – Repair credit?                 knowledge
   – Lead search for their
     own long-term asset          – Develops esteem and
   – Meet other project             makes long-term goals
     requirements, such as          seem achievable
     credit repair, asset         – Gains long-term asset
     training


                                                        21
Host Agency’s Perspective
Host Agency Benefits

 • Helps agency carry out its mission
 • Introduces/enhances community
   partnerships
 • Brings new business to agency
 • Often develops new agency competencies




                                            23
Host Agency’s Responsibilities
Pre-award

  • Examine agency’s desire and capacity to run
    an IDA program
  • Identify non-federal funding
  • Identify partners to help deliver services
  • Develop a successful proposal




                                              24
Key Topics for Planning an AFI Project
 •   Funding – Federal and Non-Federal
 •   Project Reserve Fund Guidelines
 •   IDA Matching Structure
 •   Savings Plan Agreement
 •   Accountholder Eligibility

 • Other topics addressed in later calls, e.g.,
     –   Financial education
     –   Recruitment/enrollment
     –   Asset purchase process
     –   Reporting




                                                  25
Funding
 • Five-Year Project Grants
 • Must have firm commitments of cash
   support from Non-Federal sources.
 • The commitments must be equal to or
   greater than the Federal grant amount
   requested.
 • Work on this ASAP!




                                           26
Project Reserve Fund


                         PROJECT
Federal Grant
                       RESERVE FUND
  $100,000             insured financial
                           institution
Non-Federal
                          $200,000
 $100,000
(Cash only)




                                           27
 Allowed Uses of Project Reserve
 Funds
• At least 85% to match IDA
  savings
• Up to 13% for financial
  education and other project
  costs
• At least 2% for data
  collection

                                Savings Match    Data Collection

                                Econ Education   Other Admin



                                                                   28
Non-Federal Funding -- Examples
 •   Financial institutions
 •   Foundations: especially local, regional
 •   United Way organizations
 •   Corporations / Employers
 •   Faith-based organizations
 •   State and local governments
 •   Individuals


 Project Builder: 3.D; Appendix D


                                               29
IDA Matching Structure
 • IDA Savings Match Rates can range from
     – $1 match for $1 earned income saved to
     – $8 match for $1 earned income saved
 • Maximum amount participant can save and be
   matched may vary
 • Maximum Federal Contribution
     – $2000 per individual
     – $4000 per household


 Project Builder 3.A, 3.D; Appendix D; Appendix G

                                                    30
Elements in Savings Plan Agreement
Total Amount to be saved and financial institution
  options
• Schedule of deposits: frequency, amount
• Asset to be purchased
• Match rate per $1 of earned income saved
• Maximum savings to be matched
• Financial education requirements
• Asset-specific training
• Other key policies or procedures related to the
  participant becoming eligible for a matched
  withdrawal


Project Builder 3.D, Appendix D, Appendix E

                                                     31
Participant Eligibility
 • TANF eligible OR

 • EITC eligible or annual household income less
   than twice poverty (about $40,000 for family of
   four)
 AND
 • Net worth less than $10,000 excluding value of a
   residence and one motor vehicle per household.

 • Administering agencies may have additional
   requirements.

 Project Builder 3.A, Appendix B
                                                      32
Preparing a Successful
   AFI Application
Request for Proposals:
AFI Grants Overview
 • Multiple application cycles annually, through 2010
 • FY 2008 application cycles
    • January 15, 2008 (2009, 2010)
    • March 25, 2008 (2009, 2010)
 • Up to $1,000,000 (average $350,000)
 • $19,000,000 available
 • 55-65 funded projects annually




                                                        34
Application procedures
  • Proposals will be reviewed by a panel of experts
    in IDA and AFI IDA implementation
  • Please follow application instructions as listed in
    the Application Packet closely
  • Five general sections:
     •   Project Summary or Abstract
     •   Organizational Profiles
     •   Approach
     •   Results or Benefits
     •   Budget and Budget Justification
  • Some have subsections
  • Standard forms and assurances


                                                          35
Criterion: Approach (Total 50 pts)
 • Half of the review points
 • How your program will operate
 • How your program will staff the project, develop
   partnerships, develop operations plan, recruit and
   select participants, deliver classes, provide
   assistance to accountholders, assist in purchasing
   an asset - all will be described here




                                                        36
Approach: Work Plan (20 pts)
 • Outline what you will do when
 • Include targets or benchmarks at regular intervals
 • Link to key project activities: recruitment, enrollment,
   IDAs open, asset purchases, etc.
 • Link to AFI Project Management Indicators and AFI
   Program Outcomes
    – Increase in amount of IDA savings used for asset purchase
    – Increase in number of participants who make asset purchase
    – Increase in ratio of earned income participants save relative to
      Federal AFI funds invested

    AFI Performance Management Initiative:
        http://www.acf.hhs.gov/assetbuilding/afihome.html
    Project Builder 3.I

                                                                         37
Approach: Tax Services (3 pts)

  • Tax filing module in financial literacy classes
  • Tax filing assistance program
  • EITC claims
  • Child Tax Credits
  • Policy for depositing tax refunds in IDA




                                                      38
Approach: IDA Design Features (5 pts)

 • What will your match rate be?
 • How did you determine the match rate?
 • What it takes to purchase assets in your
   community
 • Discuss capability to save of typical
   accountholder in your community


 Project Builder 3.D, 3.A; Appendix C, Appendix E


                                                    39
Approach: Partnerships and
Collaborations (12 pts)
 • Who will be your partners?
 • What will they do for you?
     –   Financial Institution Partner
     –   Service or referral partners
     –   Training partners
     –   Other services
 • Do you have letters of commitment for the
   partnership or clear roles defined in MOUs?



 Project Builder 3.G, 3.H; Appendix J, Appendix K


                                                    40
Approach: Evaluation (5 pts)

  •   Three commitments

       1. Will use an electronic MIS system like
          AFI2
       2. Commit to full participation in national
          demonstration
       3. Provide timely data to OCS via regular
          reports and annual data collection

       Project Builder 3.J


                                                     41
AFI2 Summary
 • Free, web-based tool
 • Track and mange funding, participants,
   services, asset purchases, reporting and
   key documents
 • AFI Resource Center provides training
   and on-going support for users
 • Capture data for most reporting
   requirements
 • Will automatically populate the annual on-
   line data report

                                            42
Approach: Participant Description
(5 pts)

  • Identify types of individuals or families that you
    will target for recruitment and enrollment
  • Identify and describe the characteristics of the
    community(ies) where you will focus your IDA
    program
      – Strengths and challenges
      – Needs and potential
      – Demographics or economic characteristics
  • Basis for your program design

  Project Builder 3.A, 3.E; Appendix C, Appendix F

                                                         43
Organizational Profiles (30 pts)

  • Discuss your organization and your partners
  • Do you have the capacity to do what you say you
    will do (10 pts)
      – Not necessary to already be engaged in IDAs
  • If you can identify key staff, do so here or provide
    job descriptions (10 pts)
  • Nonfederal cash contribution (10 pts)
      – How much
      – From whom
      – Documentation of commitment


  Project Builder 3.F


                                                           44
Results and Benefits Expected (13 pts)
 • Link your outcomes to overall AFI program-wide
   outcomes
     – Increase in amount of IDA savings used for asset
       purchase
     – Increase in number of participants who make asset
       purchase
     – Increase in ratio of earned income participant savings
       relative to Federal AFI funds invested
 • Demonstrate understanding of framework of AFI
   grantee-level performance indicators for project
   management

 AFI Performance Management Initiative:
     http://www.acf.hhs.gov/assetbuilding/afihome.html


                                                                45
Results and Benefits Expected (13 pts)
 • AFI program-wide outcomes
   – Based on a set of Performance Management Indicators
     for grantees and for OCS
   – Use indicators to set local benchmarks
   – Use indicators to manage project
   – Results in achieving AFI program-wide outcomes
 • Review the performance management
   indicators at:
   http://www.acf.hhs.gov/assetbuilding/afihome.html




                                                           46
Budget and Justification (5 pts)
 • 424: Request for Federal Assistance:
     – Total project figures: Federal, nonfederal sources, including
       applicant
 • 424-A Budget Non-Construction Programs:
     – Reflect AFI spending guidelines (e.g., 85/15)
 • Detailed Budget:
     – Explain line items in detailed budget with a narrative
 • Consistent budget figures in all three places
 • Provide letters or other documentation to prove non-federal
   match is committed
 • Make sure budget jibes with your work plan!


 Project Builder 3.K, Appendix N

                                                                       47
Project Summary (2 pts)

  • One page
  • Summarizes the key features of the application
     –   Goals
     –   Target communities
     –   Match rate(s), maximum savings
     –   Number of IDAs and asset purchases planned
     –   Key partner organizations
     –   Financial institution partner
     –   Sources/amounts of nonfederal funding




                                                      48
Bonus (up to 5 pts total for this component)

  • Collaboration or coordination with other
    community development or revitalization
    initiatives
  • Integration of asset building with other vital
    initiatives
  • Collaboration with designated types of
    organizations
  • Collaboration with TANF or workforce agencies
  • Other interests per program announcement
  • Detail the interaction

                                                     49
Application Submissions

  • Can include up to 40 pages of narrative +
    attachments
  • Attachments include commitment letters,
    MOUs, and required federal forms
  • Please clearly number all pages and
    attachments




                                                50
Application Submissions (continued)

 • If your agency is nonprofit, provide proof
   of 501c(3) status; or
 • Treasury certified CDFI; or
 • NCUA certified low-income designated
   Credit Union
 • Public agencies may apply with non-profit
   partner
    – Lead organization signs/submits proposal
 • Networks or collaboratives may apply with
   lead organization
                                                 51
Application Instructions
 • Please include:
    –   Project summary
    –   Project narrative
    –   Standard form 424
    –   Standard form 424A
    –   Budget and justification
    –   Other required forms and assurances per
        program announcement




                                                  52
Application Instructions (continued)
  • Please include:
     – Standard Form 424B
     – Certification regarding lobbying
     – Standard Form LLL
     – Proof of non-profit status
     – Proof of Low-Income Credit union status (if
       applicable)
     – Proof of CDFI status (if applicable)


  Project Builder: Appendix O



                                                     53
Application Submission Information
  • Due date: March 25th, 2008
  • Received by 4:30 p.m. Eastern time -
     – see appendix M in Project Builder

  • Address:
     Office of Community Services Operations Center
     Assets for Independence Program
     1515 Wilson Blvd, Suite 100
     Arlington, VA 22209
     Telephone: 1-800-281-9519




                                                      54
Application Submission Information

  • May submit using www.grants.gov
  • Must be submitted by 4:30 p.m. on March
    25th, 2008
  • Prepare www.grants.gov submission well
    before due date
     – Registration
     – DUNS number
     – Authorized signature


                                          55
AFI Orientation Call Series
Overview and Grant Application       Tuesday. Jan, 29
Process                              Tuesday, Feb. 19
                                     Tuesday, Mar. 4


Cost Sharing: Raising Non-           Thursday, Jan. 31
Federal Resources                    Thursday, Feb. 21
                                     Thursday, Mar. 6
AFI Project Design &                 Tuesday, Feb. 5
Implementation, Part 1               Tuesday, Feb. 26

AFI Project Design &                 Thursday, Feb. 7
Implementation, Part 2               Thursday, Feb. 28

All calls at 2 p.m. Eastern
Registration and document download:
http://www.acf.hhs.gov/programs/ocs/afi/afi_calendar.html
                                                            56
AFI Resource Center

  • www.acf.hhs.gov/assetbuilding
    –   Application kits
    –   Project Builder
    –   Application forms
    –   Program announcement
    –   Technical information on AFI IDA
        implementation

  • afiprogram@acf.hhs.gov
  • 202-401-4626

                                           57
Other IDA Resources

  • Center for Social Development:
      http://gwbweb.wustl.edu/csd
  • IDA Network:
      http://www.idanetwork.org
  • New America Foundation:
      www.assetbuilding.org

  Project Builder: Appendix A


                                     58
   Contact Information



   AFI Resource Center
  afiprogram@acf.hhs.gov
       (202) 401-4626
www.acf.hhs.gov/assetbuilding




                                59

				
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