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Introduction: Individual Development Accounts (“IDAs”) are an anti-poverty initiative in which there is room for everyone to participate—funders, non-profits, financial institutions, faith-based organizations, individuals, corporations and the public sector. Assets for Arizona Alliance--an umbrella advocacy group for IDAs-- welcomes individuals and groups to participate. Financial education, a standard component of all IDA programs, provides opportunities for volunteers from all walks of life to teach courses, classes and workshops for IDA program participants. Finally, everybody can contribute to matching funds, which determines the number of IDA participants.

Several unique partnerships comprise the IDA program infrastructure in Arizona.

Financial Institutions including banks and credit unions hold IDA accounts, provide IDA matching funds, hold matching funds accounts of non-profit program operators and provide corporate contributions and expertise to non-profit organizations offering IDAs.

Corporations and Businesses provide corporate contributions to non-profits and matching funds through sponsoring employer IDAs. They also may sponsor corporate volunteers to provide financial education for IDA account holders.

Philanthropic Organizations provide matching funds and grants which support program operations at non-profit organizations. The Arizona Community Foundation, a funding partner to the Assets for Arizona Alliance, has initiated a Field of Interest Fund called “Assets for Arizonans”. This fund provides matching funds for IDA participants’ savings, supports the Assets for Arizona Institute and holds, invests and distributes contributions from corporations, other foundations and individuals. “Assets for Arizonans” funds leverage public sector matching funds a variety of federal and local grants and contracts.

Community-Based Development Organizations, Non-Profit Social Service Organizations and Faith-Based Organizations operate IDA programs or participate in partnerships and local collaborative groups supporting IDAs. Non-profits and faith-based organizations can provide IDA sponsorships and matching funds for particular IDA programs, reach out to individual givers, sponsor employer IDAs and mentor or train individual IDA account holders while they are saving. Faith-based organizations provide a unique avenue for institutional (national denominational) funding sources to become involved in IDA programs.

Click here for information about starting an IDA Program.

Individuals, Volunteers and Donors can provide IDA Sponsorships—matching funds for particular IDA participant families-- and be individual givers ($4000 can fund an IDA). IDA participants are particularly effective volunteers, inspiring other IDA Account Holders to achieve their goals.

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