Assets for independence afi program grant

The panel review is based on criteria set forth in the program announcement. From 60 to 90 days. This program has no statutory formula. This program has no matching requirements. The matching requirement is for a non-federal cash contribution. MOE requirements are not applicable to this program. These grants have 5-year budget and project periods. Grantees may access grant funds throughout the period to the extent that they have the required non federal cash support on hand.

Standard Form? Data Report. Program records, financial records, and all other records pertinent to the award shall be retained for a period of three years from the date of submission of the final expenditure report. Catalog for Federal Domestic Assistance. AFI grantees enroll participants — members of low-income households — which can save earned income in special-purpose, matched savings accounts called Individual Development Accounts IDAs.

AFI participants use their Individual Development Accounts and matching funds for one of three allowable assets:. AFI grantees the non-profits and agencies that are awarded AFI grants also provide training and support services to AFI participants the beneficiaries , such as financial education; credit counseling and repair; and guidance in accessing refundable tax.

The remainder is used to support data collection, to provide financial education and related services, and to administer the project. AFI projects are 5-year grants. The Assets for Independence AFI program is authorized to award grants to the following entities: non-profit entities with c 3 status; state, local, or tribal government agencies applying jointly with a non-profit with c 3 status; financial institutions that are federally certified as either a Low-Income Credit Union or a Community Development Financial Institution and that demonstrate a collaborative relationship with a local community-based organization whose activities are designed to address poverty in the community and the needs of community members for economic independence and stability; and entities deemed eligible under Section g of the AFI Act.

States, counties, cities, townships, special districts, public and state-controlled institutions of higher education, Native American tribal governments, public or Indian housing authorities, and Native American tribal organizations. Per the AFI Act, governmental entities that are not deemed eligible under Section g are eligible to apply for an AFI grant only if they submit an application jointly with a non-profit organization that has c 3 status.

OCS Tribal Services. About Assets for Independence. AFI grants awarded in FY and before are not affected by the FY appropriation, as the total award amount was obligated for those grants at the time that they were made. Organizations operating AFI projects with existing grants are responsible for continuing to operate those projects for the funded project period indicated on the notice of grant award. Current as of: September 3,