Many programs require funded agencies to raise additional money and make in-kind contributions to cover the cost of program operation, evaluation, and information requirements, as well as have staff participate in IDA technical assistance training, and economic literacy classes. This demonstration will fund 8-12 projects to design and implement IDA programs, with careful evaluation of the social and economic impacts of these programs performed by Washington University. With IDAs low income people start businesses, buy homes, and pursue higher education. Savings and asset development increase economic independence and well-being. The accumulation of savings and assets has important effects, including gains in income, self-esteem, family stability, initiative taking, economic literacy, skill development, and civic participation.
Community groups working with financial institutions can create effective asset-building programs.
IDA programs increase economic literacy, advancing the understanding of, and effective participation in, the new economy. An investment in IDAs can generate a positive return for all investors. The Corporation for Enterprise Development expects that at least 2,000 IDAs will be created through this project. IDA information, technical assistance, evaluation and learning assessments, assistance with advocacy, public education, and media outreach. An opportunity to expand its IDA initiative to 500 accounts.