Publication DateOctober 2003
Researchers survey all financial institutions currently offering individual Development Account (IDA) programs to assess how well they work and how they might achieve scale.
Since their inception in the 1990s, Individual Development Accounts (IDAs) have been pioneered by unique partnerships between financial institutions and nonprofit organizations.
Building from two national demonstrations that together have capitalized at least 190 IDA programs–the American Dream Demonstration, funded by private foundations, and the Assets for Independence demonstration, funded by the U.S. Department of Health and Human Services–practitioners are analyzing the impact of IDAs from the perspectives of both the non-profit program provider and the participant.
The CCC Financial Institution Survey of IDA Programs is designed to describe the role of financial institutions and assess the ways they can help bring IDAs to national scale.
In particular, we seek to assess how well the tax credit approach proposed for financial institutions that sponsor and provide match funds for IDAs might work to achieve scale.
To accomplish these goals, we undertook a telephone survey of all financial institutions currently engaged in IDA programs and this report presents the results of that survey.