YouthBuild National IDA Program Helps Graduate Leaders Achieve Their Goals
YouthBuild graduates include highly motivated young leaders who have overcome extraordinary obstacles.  However, these graduates still face daunting barriers after completing the program. One barrier: they are still poor. To help graduates build assets to achieve their goals, YouthBuild USA has received two grants totalling $815,000 from the U.S. Department of Health and Human Services (HHS) for the YouthBuild National Individual Development Account (IDA) Program. This program fosters the economic independence and leadership of low-income YouthBuild graduates by matching their savings.
With the grants from the U.S.Department of Health and Human Services, YouthBuild USA and its affiliates will assist 350 YouthBuild graduate leaders in realizing their goals.
If a participant saves $800, YouthBuild can match that 5:1, resulting in a total of $4,800 to be used for attending college, buying a home, or starting a business. The YouthBuild National IDA Program also offers financial literacy education and mentors.
The program is administered through a partnership between YouthBuild USA and local YouthBuild programs. YouthBuild USA raises three-quarters of the match, offers technical assistance, and provides overall program management. Local affiliates select the IDA participants and raise $1,000 for each of them.
With the grant from HHS, YouthBuild USA and its affiliates will assist 350 YouthBuild graduate leaders in realizing their goals. Additionally, YouthBuild graduates may earn up to a $2,300 Segal AmeriCorps Education Award in return for service to their local communities.
In addition to the HHS grants, YouthBuild USA has received generous private support from the Ford Foundation, the Morgan Family Foundation, the Sunshine Lady Foundation, State Farm Bank, Citizens Bank and Individual Donors. In January 2008, the Wal-Mart Foundation made a $275,000 grant to YouthBuild USA to provide private matching funds to assist 100 graduates of YouthBuild programs and to support the operations of the YouthBuild IDA program.
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