Individual Development Accounts (IDA)
IHCDA is currently accepting applications for IDA Administrators for an IDA016 Fast Track round. Eligible organizations have until Monday, August 26, 2019 at 5:00pm ET to submit a full application, which can be accessed here.
The IDA program assists low-moderate income Hoosiers attain their goals through matched-savings incentives and financial education. Operating behind the rationale that income alone is not enough for individuals to break trends of generational poverty, the IDA program focuses on asset building as a key component towards family and self-sufficiency. Participants in the IDA program are eligible to receive up to $4,500 in state match funds towards one of the eligible asset goals mentioned above. Participants also receive one-on-one counseling and 6+ hours of financial education covering topics such as budgeting, savings, credit, banking, taxes, and other money management strategies.
Qualified participants set savings goals and make regular savings deposits. Every dollar they save is matched, at a minimum for $3 for every $1 saved, to help them reach their goals so they can:
- Purchase a primary residence located in Indiana
- Expand a small business located in Indiana
- Obtain education job training
- Make essential repairs to owner-occupied housing
- Purchase a vehicle for employment, education, or job training purposes
IDA016FT Administrator Application
Note: The final application is due Monday, August 26th at 5:00 PM Eastern Time
Intro to IDA Outcome Tracker Webinar - Recorded April 2, 2019
IDA One-Pager (updated May 6, 2019)
Click here to access a listing of all Indiana IDA Program administrators
IDA Tax Credits
Click here to access the 2019-2020 IDA Tax Credit Application
Note: The final application is due June 17, 2019 at 5:00 PM EST. Please email email@example.com with any questions or concerns.
2019-2020 IDA Tax Credit Donor Reports - 1st Half Report 2nd Half Report
Notice IDA-017-02 - IDA Program Administrator Application Now Available
Notice IDA-017-01 - 2017-18 IDA Tax Credit Program Administrator Application Now Available
Notice IDA-016-01 - IDA Administrator Application Now Open (updated September 6, 2016)
Notice IDA-015-02 - Closing Accounts for Expired Accounts
Notice IDA-015-01 - Closing OOR Accounts for Active of Expired Participants