# Presentation: 168559

## Welcome!

- AFI Program Overview for Prospective Applicants:Tips for Writing a Winning AFI Application and Designing a Strong IDA Project

## Webinar Logistics

- If you have _technical difficulties_ with hearing or viewing this presentation, please **press *0** or contact
- 	Sierra Weaver
- 	202-401-5295
- If you prefer to listen to the _audio only_
- 	Dial: 1-888-390-4470
- 	Pass code:  AFI

## June Application Cycle 

- Application Due date: **June 25th, 2008**
- _Received_ by 4:30 p.m. Eastern time

## Resources for Applicants

- Program webpage _[www.acf.hhs.gov/assetbuilding](http://www.acf.hhs.gov/assetbuilding)_
- AFI Project Builder - 	Guide for Planning an AFI Project
- Program Announcement
- Webinars and Conference Calls
- AFI Resource Center
- Email:  	_[afiprogram@acf.hhs.gov](mailto:afiprogram@acf.hhs.gov)_
- Call:	202-401-4626

## Today’s Agenda

- Key Features of Assets for Independence
- Tips from the Field
- Dan Kornelis, Director, Forsyth County Housing Department
- Sharon Henderson, New Mexico Assets Consortium
- Application procedure
- AFI Resource Center
- Questions / Answers / Discussion

**Notes:**
So why are we focusing on wealth creation – and wealth accumulation – asset building?

Simply put, because it makes a positive difference.

Research shows that families who have been able to save or otherwise develop wealth are better off in many ways.

They are better off economically, sociologically, and even physically.

And so are their children.

They plan for the future.

They have hope.

## Assets for Independence Projects

- 	Five-year grants that enable low-income people to ...
- Learn about financial and consumer issues
- Save in Individual Development Accounts
- In order to ...
- acquire a home
- access higher education or training and/or
- start or support a small business
- save to transfer to a child or spouse

**Notes:**
What are IDAs – a generic definition....

Matched 

Restricted

Savings in banks

For low-income families

The purpose – regular savings for an economic goal.

## IDAs -- Individual Development Accounts 

- Special purpose matched savings accounts held in banks or credit unions.
- IDA participants deposit earned income regularly – they accumulate savings in the IDA to acquire an economic asset.
- Participants receive financial education,  asset-specific training, and coaching while they save.

**Notes:**
What are IDAs – a generic definition....

Matched 

Restricted

Savings in banks

For low-income families

The purpose – regular savings for an economic goal.

## Characteristics of Effective AFI Grantees

- Have a mission of preventing poverty and improving family self-sufficiency
- Partner with others to ensure adequate programming in housing, micro-enterprise, or higher education
- Work closely with credit unions, banks or other financial institutions

**Notes:**
What are IDAs – a generic definition....

Matched 

Restricted

Savings in banks

For low-income families

The purpose – regular savings for an economic goal.

## Fundamental AFI Services / Concepts

- Financial literacy education
- Asset-specific training
- Savings Plans
- Nonfederal funding
- Financial institution partner
- On-going monitoring and management

**Notes:**
What are IDAs – a generic definition....

Matched 

Restricted

Savings in banks

For low-income families

The purpose – regular savings for an economic goal.

## Learn More Basics

- Participate on the May 29th Overview Webinar / Conference Call
- Listen to recordings of past webinars
- AFI Project Builder
- AFI webpage

**Notes:**
What are IDAs – a generic definition....

Matched 

Restricted

Savings in banks

For low-income families

The purpose – regular savings for an economic goal.

## Hints / Tips / Suggestions from the Field 

**Notes:**
Welcome
I am
Thanks
Lidia
Interagency Group
Who’s Here?

## Dan Kornelis

- Planning Stage
- Writing Stage
- General Hints and Tips

## Planning Stage

- How Does AFI/IDA Fit With Your Organization’s Mission Statement ?
- Illustrate Experience & Success in Wealth Building, Working with Low-Income Families, Economic Literacy Produce: Organizational Overview,  Resumes of Key Personnel

## Planning Stage (cont’d)

- Partner With Those With a Common Vision
- Include Partners Who Provide Added Value and Help you Complete Your AFI Mission Produce: MOUs

## Planning Stage (cont’d)

- Identify and Gain Support of a Financial Partner
- Project Reserve Fund
- Participant Accounts
- Participant Loans for Asset Purchase
- Negotiate with financial partner in the early stages of developing the project
- Produce:  Financial institution partner agreement

## Writing Stage

- One Page Executive Summary
- Describe key elements of the proposal:
- How Much
- Source of Nonfederal support
- IDA match rates,
- Persons to be served,
- Services to be offered,
- Asset types of the offered and purchased, Experience of Organization
- KEY:  Sell the Reader on Your Project and Your Capabilities

## Writing Stage (cont’d)

- Two Different Budgets Outlined
- Nonfederal and AFI Funds are outlined in 424A.
- Separate budget for five-year period adds other sources/uses of funds in addition to the nonfederal and funds.

## Writing Stage (cont’d)

- Use AFI Calculator
- A good tool for determining the number of people your project can serve.
- Use it to help you set goals, objectives and benchmarks.

## Kornelis’s Quick Tips

- Many people may contribute to the writing of the application but make one responsible for putting it all together and submitting to Washington.
- Using Adobe PDF will allow you to scan forms, provide proper pagination, and establish a Table of Contents that assures an application that is easy and enjoyable to read and comprehend.

## Kornelis’s Quick Tips (cont’d)

- If a consultant is used to write application, make sure you have plenty of time to read, understand, edit, and have buy-in before submitting to Washington.
- Make a list of each item requested in the program announcement.  Then respond to each of them.
- Follow the points system provided in the program announcement.  This will ensure that you do not overlook any key topics.

## Kornelis’s Quick Tips (cont’d)

- The attachments are important. They show you have considered all key elements and have established fundamental policies for administering a successful AFI/IDA project.
- Become familiar with the guidelines outlined in the program announcement and the Project Builder before you start writing the proposal.   Give yourself plenty of time to write and then reflect on your  end product.

## Sharon Henderson

- Two fundamental questions:
- Is it “do-able?”
- Will the proposed plan use all award funds?

## Do-able?

- Who will we serve?
- Do we have the partnerships to meet all areas of need?
- Case Management
- Financial Education
- Credit rebuilding
- Preparing for asset purchase
- Data Management
- Other

## Do-able? (cont’d)

- Is the plan flexible?
- Is there room for monitoring and change?
- Is the timeline realistic
- See samples

## Use all funds?

- Do we already have potential savers?
- Can we minimize barriers to savings?
- Do we allow enough time to save?
- Do we have policies that allow lump sums?
- Are our policies flexible enough to allow savers to meet all program requirements?

## Use all funds? (cont)

- Can we complete start up activities in the first quarter?
- Will we end all savings periods a reasonable time before the end of the last project year?
- Do we have a plan to fill vacancies that allows enough time to save and be ready to purchase?

## Henderson’s Hints

- Be brief and _clear_. AFI application reviewers are peers who know what has worked in the field, and what hasn’t.
- If your organization has experience, state it.  If there are things you know because of your experience, state these things clearly and use them to define your very specific target and need for IDAs.

## Henderson’s Hints (cont’d)

- As you read the program announcement, make a note of everything it asks.  Be careful to provide answers for each item. (See sample TOC)
- The AFI announcement includes links to web pages.  Look at those web pages!  For example, the information about the AFI Performance Management initiative.
- Know where you are getting your nonfederal contribution from.  Document that information.

## Henderson’s Hints (cont’d)

- Have a firm commitment from a financial institution even if the IDA agreement is not in place.
- Recognize that you must have additional nonfederal funding.  Partnerships are key.  Link with other programs your organization currently provides.
- Provide strong information on what your organization will do to ensure that each IDA saver will have the support they will need to save in their IDA and make the asset purchase.

## AFI Resource Center

- Application kits
- Advice / facilitation on planning a project, developing partnerships with community groups, establishing strong relationships with financial institutions, and so forth
- Tools for IDA projects, proven strategies, best practices
- Regular conference calls on IDAs and asset- building topics
- Listserv with helpful information

## Application Submission Process

**Notes:**
Welcome
I am
Thanks
Lidia
Interagency Group
Who’s Here?

## Application Submissions

- Up to 40 pages of narrative
- Attachments not counted in 40 pages
- Attachments include commitment letters, MOUs, required forms, any other documentation
- Please clearly number all pages and attachments

## Application Submission Information

- Due date: **June 25th, 2008**
- _Received_ by 4:30 p.m. Eastern time
- Submit either
- 	- electronically via Grants.gov; or
- 	- in paper format
- Mail Address:
- Office of Community Services Operations Center
- Assets for Independence Program
- 1515 Wilson Blvd, Suite 100
- Arlington, VA 22209
- Telephone: 1-800-281-9519

## Upcoming AFI Webinars

- Program Overview and How to Apply
- 	Thursday, May 29, 2008:  2:00 – 3:15 p.m.
- Tips for Writing a Winning AFI Application and Designing a Strong IDA Project
- 	Tuesday, June 3, 2008:  2:00 – 3:15 p.m.

## Previous AFI Webinars

- Available from the AFI Resource Center
- Call 202-401-4626
- Cost Sharing: Non-Federal Funds
- AFI Project Design and Implementation (Part 1)
- AFI Project Design and Implementation (Part 2)

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