Assets for Independence Demonstration Program
The statutory purposes for the AFI program, as stated in Section 403 of the AFI Act, are to provide for the establishment of demonstration projects designed to determine: (1) the social, civic, psychological, and economic effects of providing to individuals and families with limited means an incentive to accumulate assets by saving a portion of their earned income; (2) the extent to which an asset-based policy that promotes saving for post-secondary education, homeownership, and microenterprise development may be used to enable individuals and families with limited means to increase their economic self-sufficiency; and (3) the extent to which an asset-based policy stabilizes and improves families and the community in which the families live.
General information about this opportunity
Last Known Status
Administration For Children and Families, Department of Health and Human Services
Type(s) of Assistance Offered
B - Project Grants; M - Training
Fiscal Year 2016
It is anticipated that 42 grants will be awarded. 42 grants awarded.Fiscal Year 2017
No funding in FY 2017.Fiscal Year 2018
No funding in FY 2018.Fiscal Year 2019
No funding in FY 2019.Fiscal Year 2020
No funding in FY 2020
Community Opportunities, Accountability, And Training And Educational Services Act Of 1998, Title IV, Section 414(d), Public Law 105-285, 42 U.S.C. 604 note.
Who is eligible to apply/benefit from this assistance?
This program supports innovative projects administered by national, State-wide, regional and community-based organizations. Eligible applicants are: (1) Private nonprofit organizations that are tax exempt under Section 501(c)(3) of the Internal Revenue Code; (2) State or local governments or agencies or Tribal governments submitting applications jointly with a nonprofit with a 501(c)(3) status; (3) credit unions designated as low-income credit unions by the National Credit Union Administration; or an organization designated as a Community Development Financial Institution by the Secretary of the Treasury.
The Assets for Independence Act limits eligibility for participation in AFI-funded projects to individuals and families with the following characteristics: 1) Individuals who are members of households that are eligible to receive support under the Federal Temporary Assistance for Needy Families program; 2) Individuals whose adjusted gross household income is less than twice the Federal poverty line, taking into consideration the number of household members, and whose household net worth as of the end of the prior calendar year was less than $10,000; and 3) Individuals whose adjusted gross household income enables them to qualify for the Federal Earned Income Tax Credit, taking into consideration the number of household members, and whose household net worth as of the end of the prior calendar year was less than $10,000. When determining the net worth of the household, a household's assets shall not be considered to include the primary dwelling unit and one motor vehicle owned by a member of the household.
Low Income Credit Unions must submit official documentation that the National Credit Union Administration has designated the organization as such. Community Development Financial Institutions must submit documentation that the Department of the Treasury has designated the organization as such. Private nonprofit organizations that are tax exempt under Section 510(3) of the Internal Revenue Code must provide documentation of nonprofit status. Applications submitted by credit unions and community development financial institutions must demonstrate a strong collaborative relationship with one or more community-based organization(s) that seek to address poverty and the economic needs of community residents. Title 45 CFR Part 75 applies to this program.
What is the process for applying and being award this assistance?
Preapplication coordination is required. This program is eligible for coverage under E.O. 12372, "Intergovernmental Review of Federal Programs." An applicant should consult the office or official designated as the single point of contact in his or her State for more information on the process the State requires to be followed in applying for assistance, if the State has selected the program for review.
2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards applies to this program. Awards were granted on a competitive basis. Announcements concerning the availability of funds, requests for applications, along with application forms and assurance documents were posted to https://www.grants.gov. This program is subject to the provisions of Title 45 CFR Part 75. For FY2019 and 20, no new awards are expected.
The Director, Office of Community Services makes funding decisions based on recommendations of a panel of experts who review funding proposals. The panel review is based on criteria set forth in the FOA. For FY2019 and 20, no new awards are expected.
Contact the headquarters or regional location, as appropriate for application deadlines
Approval/Disapproval Decision Time
From 60 to 90 days. Applications will normally be approved/disapproved and grant awards made within 90 days of application receipt.
How are proposals selected?
Applications will be reviewed in accordance with the criteria specified in the Funding Opportunity Announcement (FOA).
How may assistance be used?
The AFI Act imposes the following limitations on uses of AFI grant funds: Entities that receive AFI grants must reserve at least 85% of the Federal AFI grant amount for matching participants' IDA savings. The grantee entities may use no more than 15% of the Federal AFI grant amount for all other costs such as administering the project, reporting, and recruiting and enrolling participants; training participants in such areas as financial education, economic literacy, budgeting, and credit; providing supports that assist participants to achieve economic self-sufficiency; and providing information to organizations evaluating the AFI demonstration. Of the 15 percent: 1) Not less than 2 percent of the federal AFI grant funds shall be used for the collection of data and other information required for evaluation. 2) Up to 5.5 percent of federal AFI grant funds may be used for non-administrative functions as follows: assisting participants in the demonstration project in obtaining the skills and information necessary to achieve economic self-sufficiency. 3) Administrative costs, including program management, reporting requirements, recruitment and enrollment of individuals, and monitoring, may be up to 7.5 percent of the federal AFI grant funds. If the non-administrative function costs are less than 5.5 percent, the excess may be used for administrative costs, provided that the combined administrative and non-administrative expenditures do not exceed 13 percent of the federal AFI grant funds.
What are the requirements after being awarded this opportunity?
45 CFR Part 75 Subpart F applies to this program.
All financial records are to be maintained in accordance with 45 CFR 75.361-365.
Other Assistance Considerations
Formula and Matching Requirements
Statutory formula is not applicable to this assistance listing.
Matching requirements are not applicable to this assistance listing.
MOE requirements are not applicable to this assistance listing.
Length and Time Phasing of Assistance
These grants have 5-year budget and project periods. Grantees may access federal grant funds to the extent that they provide proof of the required non-federal cash contribution.
Who do I contact about this opportunity?
Regional or Local Office
330 C Street SW, 5th Floor West
Washington, DC 20201 US
(Project Grants (Discretionary)) FY 18$0.00; FY 19 est $0.00; FY 20 est $0.00; FY 17$0.00; FY 16$13,655,768.00; - (Training) FY 18$0.00; FY 19 est $0.00; FY 20 est $0.00; FY 17$0.00; FY 16$2,717,457.00; -
Range and Average of Financial Assistance
The Office of Community Services (OCS) awards grants for this program ranging up to $1,000,000. The average grant is approximately $350,000. Eligible entities may apply for new grants up to the statutory limit of $1,000,000 for 5-year project periods.
Regulations, Guidelines and Literature
The following regulations apply: Title 45 CFR Part 75 Uniform Administrative requirement, Cost Principles, and Audit requirements for HHS awards, Part 16 - DHHS Grant Appeals Process, Part 76 - Debarment and Suspension from Eligibility For Financial Assistance, Sub part F - Drug Free Workplace Requirements, Part 80 - Non-discrimination Under Programs Receiving Federal Assistance through Department of Health and Human Services Effectuation of Title VI of the Civil Rights Act of 1964, Part 81 - Practice and Procedures for Hearings Under Part 80 of this Title, Part 83 - Regulation for the Administration and Enforcement of Sections 799A and 845 of the Public Health Service Act, Part 84 - Non-discrimination on the Basis of Handicap in Programs and Activities Receiving Federal Financial Assistance, Part 85 - Enforcement of Non- discrimination on the Basis of Handicap in Programs or Activities Conducted by Department of Health and Human Services, Part 86 - Non- discrimination on the Basis of Sex in Education Programs and Activities Receiving or Benefiting from Federal Financial Assistance, Part 91 - Non-discrimination on the Basis of Age in Health and Human Services Programs or Activities Receiving Federal Financial Assistance, Part 93 - New Restrictions on Lobbying, Part 1000 - Individual Development Accounts.
Examples of Funded Projects