2017 IDA Awards
This week, Oregon Housing and Community Services, in cooperation with Neighborhood Partnerships, has finalized funding awards for the 2017-2018 program year for the Oregon Individual Development Account Initiative.
The Initiative invests in the personal and financial growth of individuals to build strong communities throughout Oregon. Individual Development Accounts, or IDAs, are matched savings accounts that build the financial capability of qualifying Oregonians with lower incomes while they save towards a defined goal. IDAs build pathways of opportunity and create models of economic success in Oregon communities.
The Initiative was created in 1999 by the Oregon State Legislature to bring state agencies, private non-profit and tribal partners, and private contributors together to create opportunity in Oregon. Oregon Housing and Community Services Department oversees the Initiative, in coordination with the Oregon Department of Revenue. The Initiative is managed by Neighborhood Partnerships.
With these awards, participants in all corners of the state will continue to benefit from matched funds to help them purchase a home, fulfill an educational goal, develop and launch a small business, restore a home to habitable condition, or purchase equipment to support employment. In 2015, allowed categories for savings were expanded by the Legislature, and in the coming year we are excited to be able to support the Initiative in piloting those new ways to support Oregonians’ goals.
A total of $10,028,250 in awards were made to the following organizations:
CASA of Oregon $3,800,000
College Dreams $800,000
Mercy Corps NW $645,000
NAYA Family Center $190,000
Neighbor Works Umpqua $2,275,000
Portland Housing Center $776,250
Warm Springs Community Action Team $317,000