So You Want to Do IDAs? The Fundamentals of Individual Development Accounts Megan O’Neil WID

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.

WID’s 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:

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)

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

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

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

Tapping Into Existing Programs How to Find IDA Programs… CFED IDA Directory: =374&id=599 OCS IDA Locator: ml ml

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?

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

WID Access to Assets Contacts Kathy Martinez: Megan O’Neil: Toll Free Technical Assistance Hotline