I.D.A. Donor

An Individual Development Account is a special savings account only available to Portage county community members with set asset goals of home-ownership, small business start-up or attainment of higher education. These individuals will work with a financial counselor to establish a budget and savings plan. As they progress through the program they will receive financial literacy education and counseling tailored to their specific asset goals.

The I.D.A. program is an incentivized savings program in which participant’s dollars are matched at a 2:1 ratio with federal and non-federal funds. Once a savings goal has been reached, the participant can then apply their savings and match funding to their asset purchase. The money accumulated in the saver’s account can only be used for the asset purchase.

I.D.A. programs do much more than provide assets to individuals. They have been proven to increase residential stability, decrease the likelihood of marriage dissolution, and increase the rate of civic and community involvement among participants. Most importantly, I.D.A. participation decreases the likelihood that future generations will be impoverished.

By sponsoring a saver, you are making an investment in your local community and economy. A $1,000 deposit is needed to enroll one saver in our program. Community organizations can choose to become bronze ($500), silver ($750), or gold ($1,000) sponsors. Individuals are welcome to donate; however, we are encouraging an organization-wide sponsorship. This will allow donor organizations to pool resources and spread out the responsibility of the financial commitment. By pooling resources, small sums of money can become large donations.

Organizations who choose the bronze or silver sponsorship option will be featured on our website and newsletter. Those choosing the gold or platinum sponsorship option will be featured on our website, newsletter and all marketing material. Participating organizations will receive a interactive display where they can track their progress!