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Assets for Independence
Assets for Independence (AFI) is a discretionary federal grant under the Office of Community Services. It enables community-based nonprofits and government agencies to implement and demonstrate an assets-based approach for giving low-income families a hand up out of poverty. AFI projects help participants save earned income in special-purpose, matched savings accounts called Individual Development Accounts (IDAs). Every dollar in savings deposited into an IDA by participants is matched by the AFI project. Additionally, all AFI projects provide basic financial management training and supportive services. Locally the Community Foundation of Volusia and Flagler was recently awarded a $150,000 matching grant to help provide $300,000 in AFI funds over the next five years.
IDA's
Target Population
Legislative Authority Additional Information http://www.acf.hhs.gov/assetbuilding Media Information Renee Gay, Program Director United Way of Volusia-Flagler Counties 386-253-0573/rgay@unitedwayvfc.org
Heard at Thursday, April 16th Press Conference Community Foundation Volusia & Flagler & United Way Volusia/Flagler Assets for Independence Grant Announcement
Ray Salazar, President, United Way Volusia/Flagler. The United Way will administer the Assets for Independence program
“I want to emphasize the leverage the Community Foundation placed on the table when it committed $150,000 to the Assets for Independence program. The accumulation of real assets that the Community Foundation provides will help families in our community find a home. This program will turn the accumulation of assets of these families, monies saved through their own discipline one dollar at a time, into three dollars with this powerful match. It is exactly this kind of public-private partnerships that make it possible to seriously impact an issue like homelessness in our community.”
Rep. Suzanne Kosmas, who presented the grant check for $150,000 from the U.S. Department of Health and Human Services to the United Way of Volusia/Flagler for Assets for Independence
“This is my 100th day of being a Congresswoman and I am so pleased to be able to have the opportunity on my 100th day in office to deliver this big check from the Department of Health and Human Services. In this job, nothing is more fun than getting to deliver a big check back home. It is because of the many United Way volunteers and supporters of the Community Foundation that this grant opportunity is possible. I was fortunate enough to be able to co-found the Volusia County Women’s Initiative with my friend Blaine Lansberry and since that time we’ve been able to raise $300,000 to help women and children in Volusia and Flagler Counties to avoid or recover from homelessness. The Assets for Independence grant program will continue that effort by giving families the opportunity to buy their first home.”
David Jones, Immediate Past President, Community Foundation Volusia & Flagler. The Community Foundation Volusia & Flagler has committed $150,000 to match the federal grant for Assets for Independence
‘The Community Foundation is recognized as a leader in providing the unique position of giving philanthropic individuals a simple and powerful way to achieve their charitable passion. Providing the matching funds for the Assets for Independence grant is a tangible representation of the measurable success and outcomes that the Community Foundation is able to achieve with legacy gifts. Helping families in our community to achieve greater self-stability through home ownership and financial independence is the kind of long term results the Community Foundation seeks to achieve.”
Claris Mac’Kie, Family Renew Community, a partner in the Assets for Independence program
“This partnership will provide those families who are working, going to school, and working hard raise their children and to be self-sufficient that extra help they really need to become independent and own their first home. From east Volusia to west Volusia, this is a real need. We have at least 18 families on a waiting list in west Volusia alone for our transitional housing program.”
Heather Bunch, age 23, Holly Hill single parent, resident of Family Renew Community and one of the first families identified to take part in the Assets for Independence program
“I am so thankful to Family Renew. Because of Family Renew, I have been able to save a substantial amount of money while working, as a student at Daytona State College and raising my family. Family Renew has given me the tools and the help so I can stand on my own two feet and provide for my family.”
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Increasing the organized capacity of our community to care for its people since 1941.
For questions or comments about this web site, click here. Last modified: 05/31/09
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