Deadline: 25-Jul-22
The Office of Refugee Resettlement (ORR) within the Administration for Children and Families (ACF) announces funding for the Refugee Individual Development Accounts (IDAs) Program, which establishes and manages IDAs for low-income refugee participants.
The Refugee IDA Program represents an anti-poverty strategy built on asset accumulation for low-income refugee individuals and families to promote refugee economic independence. IDAs are leveraged or matched savings accounts established in qualified financial institutions.
In the Refugee IDA Program, IDAs are matched with federal funds that have been allocated as “match funds” from at least 65 percent of the annual federal grant award. The funds are intended for the asset goals specified in this NOFO. Although the refugee client maintains control of all funds that the client deposits in the IDA, including all interest that may accrue on the funds, the client must sign a Savings Plan Agreement that specifies the funds in the account will be used only for the client’s qualified asset goal(s) or for an emergency withdrawal.
Objectives
The objectives of the Refugee IDA Program are to help clients:
- Establish IDAs;
- Maintain regular saving habits;
- Participate in the financial institutions of this country;
- Acquire assets to build individual, family, and community resources;
- Increase their knowledge of financial and monetary topics, including developing a household budget;
- Advance their education;
- Buy homes;
- Gain access to capital; and
- Increase the socio-economic development of their communities.
Funding Information
- Estimated Total Program Funding: $10,000,000
- Award Ceiling: $750,000
- Award Floor: $500,000
- Anticipated Project Start Date: 09/30/2022
Eligibility Criteria
- Special district governments
- City or township governments
- State governments
- Public housing authorities/Indian housing authorities
- Nonprofits having a 501(c)(3) status with the IRS, other than institutions of higher education
- Nonprofits that do not have a 501(c)(3) status with the IRS, other than institutions of higher education
- Private institutions of higher education
- Native American tribal governments (Federally recognized)
- Others
- Public and State controlled institutions of higher education
- Independent school districts
- County governments
- Native American tribal organizations (other than Federally recognized tribal governments)
- Public or private non-profit agencies are eligible for awards under this announcement.
- Applications from individuals (including sole proprietorships) and foreign entities are not eligible and will be disqualified from competitive review and funding under this funding opportunity.
- Faith-based and community organizations that meet the eligibility requirements are eligible to receive awards under this funding opportunity.
- Faith-based organizations may apply for this award on the same basis as any other organization, as set forth at and, subject to the protections and requirements of 45 CFR Part 87 and 42 U.S.C. 2000bb et seq., ACF will not, in the selection of recipients, discriminate against an organization on the basis of the organization’s religious character, affiliation, or exercise.
For more information, visit https://www.grants.gov/web/grants/view-opportunity.html?oppId=339004