Fund-Raising Goal: Assets for Arizona Alliance, the advocacy network for Individual Development Accounts and asset-building strategies and programs, aims to raise $4 million to $5 million per year from private philanthropic and public sector sources to reach the goal of 10,000 IDAs in five years.

Assets for Arizonans Field of Interest Fund: The Arizona Community Foundation, a funding partner to Assets for Arizona Alliance, has initiated an Assets for Arizonans Fund for which the Community Foundation is soliciting private sector contributions.

The Fund will be used to match individual participants’ savings and to staff the program. The Fund provides an opportunity for individuals, corporations and foundations to dedicate resources and make contributions to IDAs while receiving a charitable tax deduction under IRS rules for contributions to ACF, a 501 (c)(3) organizations.

Donors may either participate anonymously or they may take advantage of several naming opportunities.

Many states have used private and philanthropic dollars to leverage state and federal public resources for IDA matching funds. Assets for Arizona Alliance and the Arizona Community Foundation are seeking to leverage such public sector resources to expand the pool of matching funds.

The Fund is currently eligible to be matched dollar for dollar at the Federal level and may be used as a match for other public sector funds. In addition, qualifying corporate contributors providing match funds may, in future, receive tax benefits through credits and deductions.

Administration: Assets for Arizona Institute at Mesa Community Action Network, Inc. is the primary technical assistance provider for IDAs in Arizona. In partnership with the Arizona Community Foundation, the Institute is the centralized mechanism for efficient technical assistance and grant-making for IDA programs in local partnerships and collaboratives.

Recipients of ACF grant funds must adhere to program guidelines to ensure leverage of public funds and fulfillment of conditions on the disbursement of matching funds for IDA participants’ asset purchases.

Assets for Arizona Alliance advises the Arizona Community Foundation on use of the Assets for Arizonans Field of Interest Fund. Staffed by the Assets for Arizona Institute, the Alliance sets goals and reviews policies on enhancement strategies to increase the number and efficacy of IDAs in Arizona.

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