Individual Development Accounts (IDA)
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
IDA Office Hours
IHCDA is now hosting “Office Hours” for IDA administrators and potential administrators.
Day/Time - every Friday from 2:00 PM to 2:30 PM EST (unless otherwise noted).
Office hours are open to anyone who has program questions or needs advice on an IDA-related matter.
Participants include IHCDA staff and any other IDA administrators that join the conversation.
To join, call 1-800-992-0185 and use the code 9879464.
Intro to IDA Outcome Tracker Webinar - Recorded April 2, 2019
IDA Match Claims Tool - Updated November 4, 2019
IDA One-Pager (updated May 6, 2019)
Click here to access a listing of all Indiana IDA Program administrators - Updated November 8, 2019
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 firstname.lastname@example.org with any questions or concerns.
2019-2020 IDA Tax Credit Donor Reports - 1st Half Report 2nd Half Report
ADAPT - Assest Development Asset Preservation Together
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