News Release

Contact: Raven DeVoll, (330) 297.7027 ext. 351 or rdevoll@portagefamilies.org

FOR IMMEDIATE RELEASE

June 29, 2010

$.A.F.E. RECEIVES $25,000 IN GRANT FUNDING TO OFFER AN IDA COMPONENT

TO THE PROGRAM

The $.A.F.E. program has recently been approved as a sub-grantee of the Ohio Community Development
Corporation Association’s (OCDCA) Assets Ohio Program. $.A.F.E. will receive a $25,000 grant from
OCDCA allowing it to incorporate an Individual Development Account (IDA) component to the program.

The goal of the program is to serve 25 participants over the next three years who are actively fighting to
bring their families out of poverty by encouraging them to save for a specific financial asset, and then
matching the amount they accumulated.

$.A.F.E.’s first task, before receiving the OCDCA grant money, is to begin fundraising its $25,000
portion of the IDA contribution. Money that is raised for the program will instantly be matched by
OCDCA, meaning $.A.F.E. program coordinators can slowly raise the $25,000 during the first two years
of the grant period.

Funds will be raised through community donations, local and corporate grants, donations from financial
institutions, possible partnerships with other programs interested in becoming involved with the IDA
program that has funds to allocate for it, and fundraising through special events.

“Fundraising will definitely be the most difficult aspect of getting this program off the ground. However,
I think if we make a few good partnerships with organizations in the community, it will be a great asset
for the people of Portage County,” stated Kalyn Feldner, $.A.F.E. program coordinator who wrote the
grant proposal in April.

$.A.F.E. will invite qualified community members to participate in the IDA savings program held at a
local bank. Participants will deposit a set amount of money into an account each month and after reaching
their predetermined savings goal, their money will be matched 2-to-1 with the OCDCA grant money and
community dollars fundraised through Family & Community Services.

After successfully saving through the IDA program, individuals will have the opportunity to use their
money towards purchasing a home, investing in higher education, or opening a small business. The
purpose of the IDA program is for participants to purchase a financial asset and build human capital.

Participants enrolled in the IDA program will actively engage in financial education classes to prepare for
the financial asset they will obtain after completing the program. Attending $.A.F.E. classes, meeting with

705 Oakwood St., Ste. 205

Ravenna, OH 44266
330.297.7027, ext. 351
fax 330.296.2684
Consumer Credit Counselors to receive one-on-one training, participating in Kent Regional Business
Alliance workshops on creating, starting, and maintaining a small business, and participating in
homeownership classes with Neighborhood Development Services are all possible educational options for
the IDA participants.

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