So You Want to Do IDAs?

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So You Want to Do IDAs?

• The Fundamentals of Individual Development
  Accounts
• Megan ONeil
• WID

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World Institute on Disability
The World Institute on Disability (WID) is a
nonprofit research, public policy, and advocacy
center dedicated to promoting independence and
full societal inclusion of people with
disabilities.
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WIDs Access to Assets Program
Access to Assets (ATA) bridges the asset
building and disability communities to improve
the economic status of individuals with
disabilities. Toll-Free Hotline[phone]
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Individual Development Accounts

• What are IDAs?
• Matched savings accounts
• Save for education, homeownership, or starting
  their own business.
• Accountholders typically receive financially
  education and counseling.
• Who Qualifies for an Individual Development
  Account?
• earned income
• 200 of poverty level
• Other requirements (vary by program)

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IDAs Disability Benefits

• Federally funded IDAs are exempt from asset
  calculations on ALL benefit programs- SSI,
  Medicaid, food stamps, etc
• Non-federally funded IDAs count unless included
  as part of a PASS plan
• Contributions deduct from countable income

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Tapping into Existing Programs

• Advantages
• -Non-profits manage accounts, teach financial
  literacy classes, provide case management
• -Build collaborations with other
  poverty-oriented organizations
• -IDA programs are expensive to operate

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Tapping Into Existing Programs

• Barriers
• -Too few programs
• -Lack of Funding
• -Programs not accepting new applicants
• -Service Area is limited geographically
• -Access is limited to certain targeted
  populations

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Tapping Into Existing Programs

• How to Find IDA Programs
• CFED IDA Directory
• http//www.cfed.org/focus.m?parentid31siteid374
  id599
• OCS IDA Locator http//www.acf.hhs.gov/assetbuil
  ding/states.html

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Contacting IDA Programs

• What Questions to Ask?
• What are their entry requirements?
• Are they taking new applicants?
• If not now, when?
• What is an allowed asset purchase?
• How long does the program last?
• What kinds of classes are required?
• Have they ever worked with people with
  disabilities before?

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EQUITY Disability and Asset Building
Communities Working Together

• Recent EQUITY topics
• Youth with Disabilities
• Making Tax Time Pay
• Latinos with Disabilities
• Entrepreneurs with Disabilities
• Intersection Between Benefits Programs and Asset
  Building

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WID Access to Assets Contacts

• Kathy Martinez kathy_at_wid.org
• 510-251-4326
• Megan ONeil megan_at_wid.org
• 510-251-4341
• Toll Free Technical Assistance Hotline
• 1-866-723-1201