Native Asset Building Initiative
Native Asset Building Initiative grants will provide funding to establish and operate programs that provide an array of supports and services to enable low income individuals and families to become economically self-sufficient.
Each project requires that eligible participants are given access to matched savings accounts, called Individual Development Accounts (IDA), in which participants save earned income for the purchase of a home, for business capitalization, or to attend higher education or training. Participants are also given access to other supportive services that enable them to become more financially secure.
Eligible entities include organizations that either have 501(c)(3) status or are joint applicants with a 501(c)(3) Native nonprofit organizations:
- Native 501(c)(3) nonprofits serving Native Americans
- Federally recognized tribal government entities and Alaska Native Villages (as defined in the Alaska Native Claims Settlement Act)
- State and local government agencies, and state colleges and universities located in Hawaii, Guam, American Samoa, or the Commonwealth of the Northern Mariana Islands, which serve Native Hawaiians and Native American Pacific Islanders
Entities that are not required to have 501(c)(3) status or apply jointly with an organization that has such a status, include:
- Native nonprofit Credit Unions designated as low-income credit unions
- Native nonprofit CDFIs
Grantees awarded under this joint funding opportunity will implement one project funded by two ACF program offices, OCS and ANA. As each program office will fund a portion of the project, grantees will receive one award from OCS and one award from ANA to fund the project. OCS and ANA will collaborate on funding decisions, so all funded grantees will receive an award from each program office. No grantee will receive only OCS funding or only ANA funding.
Grantees must provide at least 50 percent of the total approved cost of the AFI budget. Grantees must provide at least 20 percent of the total approved cost of the SEDS budget.
Award ceiling: $125,000,000
Award floor: $50,000
Number of awards: Approximately 8
Project period: 5 years
Total funding available: $1,400,000
Links to the full announcement and online application process are available through grants.gov.
For complete information about funding programs, including your application status, please contact funders directly. Summaries are provided for your convenience only. RHIhub does not take part in application processes or monitor application status.