The Admin. for Children and Families (HHS) is planning to reissue a new version in March to guide funding for the Assets for Independence Demonstration Program (CFDA Number: 93.602) (Funding Opportunity Number: HHS-2015-ACF-OCS-EI-1005).
Generally, AFI is guided by a three-year standing solicitation and has multiple deadlines each fiscal year. This means a solicitation sets the parameters and deadlines for several years. The current solicitation was pulled in its second year last fall so it could be tweaked to meet new federal requirements for grantmaking. ACF has not provided specifics on how many years the reissued solicitation will cover.
The first deadline under the reissued AFI solicitation is expected to be May 5, with $9 million available for approximately 40 funding awards. The awards will range from $10,000 to $1 million each.
AFI provides five-year grants to empower low-income families to become economically self-sufficient for the long-term. Participants receive financial education training on money management issues and special matched savings accounts called Individual Development Accounts. Participants use the IDAs to accumulate funds with the goal of acquiring a first home, post-secondary education, or starting up or expanding a small business. Community action agencies do very well with this funding. Faith-based groups also are among recent awardees.
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