Individual Development Account (IDA) Program

Individual Development Account (IDA) Program is sponsored by Indiana Housing and Community Development Authority (IHCDA). The IDA program is a matched savings opportunity designed to help Hoosiers make a major asset purchase, such as a home.

IHCDA: Individual Development Accounts (IDA) Individual Development Accounts (IDA) The Individual Development Account (IDA) Program is an asset development program that assists low-moderate income individuals and families in breaking trends of generational poverty, improving their quality of life, and attaining self-sufficiency through matched savings incentive, education, and building personal financial skills.

IDA was established in 1997 through Indiana State legislation (I. C. 4-4-28) and is currently fully State-funded.

IDA is administered locally by non-profit community-based organizations with oversight by IHCDA. In conjunction with the conventional IDA Program, IHCDA also oversees the IDA Tax Credit Program, which assists IDA program administrators in supplementing their IDA Program slots by providing them with Indiana Tax Credits to use as a fundraising tool to incentivize increased donor contributions to finance additional IDA accounts.

To learn more about IDA, click on the “What is IDA? ” section below. Any agency with an open IDA022 award, please ensure all final admin claims are submitted before the award closes on August 14 th , 2026.

Second Half Donor Reports for 2025 IDA Tax Credit awards will be due the first week of July, 2026. IHCDA has re-opened the IDA Tax Credit application. IHCDA encourages all prior subrecipients to consider submitting an application if interested in utilizing the Tax Credit financing for Individual Development Accounts, as well as organizations interested in starting as an IDA administration.

Please note, IHCDA is not opening the IDA Account application. Application Window: July 20th, 2026 to August 14th, 2026 Submission Portal: 2026 Second Round IDA Tax Credit Application Final Determination Date : IHCDA's Board of Directors Meeting, August 27th, 2026 If you have any questions or need assistance with the application process, please don’t hesitate to reach out to ida@ihcda. in.

gov . What is IDA? IDA Program Flyer The Individual Development Accounts (IDA) Program is an asset-development program that assists low-moderate income Hoosiers in achieving long-term financial self-sufficiency.

IDA was established in 1997 through Indiana State legislation (I. C. 4-4-28) and, beginning in 1998, also received federal funding through the U.S. Department of Health and Human Services Assets for Independence (AFI) Grant.

In 2016, the AFI Program ended, and as of 2018, IDA has been administered as a fully State-funded program. Operating behind the rationale that income alone is not enough for individuals to break trends of generational poverty, the IDA Program focuses on asset building as a key component toward building wealth and developing the knowledge and skills needed to achieve financial independence.

IDA helps individuals and families with limited means to attain their goals through matched-savings incentives, financial education, and developing regular savings habits. Qualified IDA participants work with program administrators to set savings goals and make regular deposits.

Participants also receive one-on-one counseling, case management, and financial literacy education covering topics such as budgeting, savings, credit, banking, taxes, and other money management strategies as well as education and training related to their specific asset goals. IDA participants are eligible to receive up to $4,500 in State match funds.

Participant savings are matched at a rate of $3 for every $1 saved to be used toward the purchase of one or more major assets. IDA eligible assets include: Purchasing of a primary residence located in Indiana. Education and job training.

Starting or expanding a small business located in Indiana. Making essential repairs to owner-occupied housing located in Indiana. Purchasing a vehicle for employment, education, or job training purposes.

Indiana’s IDA Program is administered by local community-based non-profit organizations with oversight by IHCDA. Prospective participants apply for IDA directly through local administrators serving their area.

IDA Tax Credit Program Partner Flyer In conjunction with the conventional IDA Program, IHCDA also oversees the IDA Tax Credit Program as an opportunity for program administrators to fund additional IDA accounts beyond those available through direct State appropriation. Like the conventional IDA Program, the IDA Tax Credit Program was also established through Indiana State legislation (I. C.

6-3. 1-18, I. C.

4-4-28-13); however, instead of being funded directly, this program assists IDA administrators in raising donations to fund a supplemental number of IDA accounts. A total of $200,000 in tax credits is awarded annually for distribution by IDA administrators to use as an incentive to help them leverage the contributions from individuals and businesses.

Tax credits are distributed to donors at 50% of the contribution amount and are subtracted from a donor's state income tax liability. With regard to program participants, the IDA Tax Credit Program is administered in largely the same manner as the conventional IDA Program.

Manuals and Program Guidance IDA: Program Manual - updated 7-20-2026 IDA Tax Credit: Program Manual Find Your Local IDA Program Administrator 2025 IDA Program Administrators 2024 IDA Program Administrators 2024 IDA Tax Credit Program Administrators 2023 IDA Program Administrators Required Program Documents Participant Documents IDA: Applicant Readiness Assessment IDA: Participant Application IDA: Household Member Zero Income Affidavit IDA: No Prior IDA Affidavit IDA: Savings Plan Agreement Participant Documents - Spanish IDA: Applicant Readiness Assessment (Spanish) IDA: Participant Application (Spanish) IDA: Household Member Zero Income Affidavit (Spanish) IDA: No Prior IDA Affidavit (Spanish) IDA: Savings Plan Agreement (Spanish) IDA: Income Calculation Worksheet IDA: Grant Reassignment Affidavit IDA: Request for Emergency Withdrawal IDA: Asset Purchase Withdrawal Form - updated 7-31-2026 IDA: Account Close Out Form IDA Tax Credits: Donor Contribution Form IDA Asset Purchase Quick Reference IDA Flyer - Invest in Your Future IDA One-Pager (updated May 6, 2019) IDA: Claims Website: IHCDAOnline IDA: Guide to IHCDA Online - Updated March 25, 2022 IDA Tax Credit: First Half Donor Report IDA Tax Credit: Second Half Donor Report Program Impact - Success Stories BreeAnna Hout is a very proud mom of five.

She works full-time and has been dedicated to her homebuying journey to give her family the greatest gift that they can all appreciate in the current rising of market housing costs. She was introduced to Pathfinder Services by Jamie Rencher of Allure Realty, LLC, who also assisted her with finding and securing grants from the Next Horizon program from First Merchant Bank, the CHBG and the VLIP grants.

BreeAnna also took part in the IHCDA (IDA) Individual Development Account Program administered by Pathfinder Services- FW Office to further increase her financial success for years to come. After searching through many homes and having some offers rejected, BreeAnna was shown a fully rehabbed home owned and rehabbed by Pathfinder Services, Inc. that turned out to be perfect for her budget and the hearts of her entire family.

Some things don't just fall together by chance. Some things are simply meant to be. She has worked so hard, and she deserves to have it pay off.

She is scheduled to close on her home July 11th. Congratulations BreeAnna! Contact Us For more information about IDA, please contact: For questions regarding IDA claims, please contact: Apply for energy assistance Learn about Section 8 / Housing Choice Vouchers Find out about down payment assistance to purchase a home