Individual Development Account (IDA)
The IDA funds come from various private and public sources that you never need to pay back! This means an IDA can be your family’s key to getting started on a lifelong path of financial stability. Each IDA program has its own set of requirements you must meet in order to participate. Some of the general requirements you may have to meet are:*
*For program availability and specific program requirements, please contact an IDA provider in your area. Examples of the types of financial goals an IDA program can help you achieve are:
The main question left now is how to find the right IDA program to fit your financial needs. The Nehemiah Community Foundation has compiled one of the most comprehensive and personalized databases of certified IDA programs in the nation. Using our database, you are only a few clicks away from potentially discovering the perfect IDA for you and your family. The program information provided herein is for guidance only and does not purport to be comprehensive. We are not attorneys, tax accountants, or brokers. Nothing contained herein should be construed as legal, accounting, tax or other professional advice. You should consult with a licensed attorney, accounting or tax professional for any specific questions you may have regarding your situation and should not rely on any information contained herein as being a substitute for professional legal, tax or accounting advice. Any references contained herein to third party companies or websites are provided for your convenience only. We have no control over the content on any third party website or the services offered by any third party. Any resources we have listed as being offered by such third parties may not continue to be offered by the third party or may be modified without notice. We make efforts to keep our content up to date; however, we do not make any representation that the information contained herein contains the most current information available. If you notice that any of our content requires updating, we would be pleased to have your input. Please contact our Customer Service Department at This e-mail address is being protected from spambots. You need JavaScript enabled to view it if you have any questions, comments or suggestions regarding our website content. Any financial figures or other numerical or statistical information, including interest rates, prices, and similar information are for exemplary purposes only and may not reflect the most up to date information available. We do not in any way guaranty or promise that any interest rates, prices or other similar information will continue to be available. |
An Individual Development Account, also known as an IDA, is a matched savings account that helps low-income Americans like you to save, build assets, and enter a world of financial stability and freedom. If you qualify for an IDA, your savings will be matched dollar-for-dollar up to a specified amount, and then released to you so that you can achieve your financial goals. For example: if you enrolled in an IDA program that deposited into your account $2 for every $1 you deposited (this is called a 2:1 match) and your total deposit was $50, you would receive an additional $100 towards your savings goal.