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PIE/IDA NEWSLETTER JUNE 2009
The PIE/IDA Program is a Collaboration Between Foothills United Way and Boulder County Community Action Programs
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| The PIE/IDA Program is the only program of its kind in Boulder and Broomfield County. |
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Dear Friends and Participants of the PIE/IDA Program,
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Since 2003, 72 participants have graduated from the Personal Investment Enterprise/Individual Development Account (PIE/IDA) program saving over $54,000 of their earned income combined. In the last 12 months alone, the PIE/IDA program assisted 8 participants with capitalization of a small business; assisted 8 participants with post-secondary education costs; and assisted 11 participants purchase a home. There are currently 67 active participants in the PIE/IDA Program.
Currently, the PIE/IDA program has slots available, ranging from home ownership, small business capitalization or post-secondary education. If you know of anyone interested in being part of the PIE/IDA program, please forward our contact information so that they can be a part of a program that truly makes a difference in people's lives.
Thank you for reading the first e-newsletter for the PIE/IDA program. If you have any questions about the PIE/IDA program please let us know.
~The PIE/IDA Staff |
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| Asset Building is an emerging and promising approach to alleviating poverty and promoting self-sufficiency for the millions of working poor Americans who have been left behind in our national economy. |
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| Early Childhood Education Opportunity
Early childhood education funds are available for participants in the PIE/IDA program. These early childhood education funds are restricted to bi-lingual, bi-cultural, Spanish-speaking early childcare providers. These funds may be used for post-secondary education (ECE related) or the capitalization of a childcare business. Early childhood education expenses are paid from the PIE/IDA program directly to an eligible educational institution or vendor in the instance of business capitalization.
Fees, Books, Supplies and equipment required for courses of instruction at an eligible education institution also qualify for the program.
Please contact the PIE/IDA Staff for more information. |
How the PIE/IDA Program Works
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| Participants in the program must be in the PIE/IDA program for at least 6 months and may stay up to 30 months. During that time participants save monthly, a minimum of $25. The savings are matched 4:1 up to $750 (with a $3,000 match). |
First-Time Home Buyer Tax Credit
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A tax credit of up to $8,000 is available for qualified first-time home buyers purchasing a principal residence on or after January 1, 2009 and before December 1, 2009. The tax credit does not have to be repaid. for more information see website www.federalhousingtaxcredit.com
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What is an IDA?
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| Individual Development Accounts (IDA's) are matched savings accounts designed to help low-income, working families and individuals accumulate money to purchase an asset of great value, such as a home, a post-secondary education or small business capitalization.
see website for IDA frequently asked questions
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July 2009 Class Schedule
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| Home Ownership Class
July 18, 10am-4:30pm, location-Boulder County Housing & Human Services, 2525 13th Ave, Boulder
Financial Fitness Class
July 1, 6pm-8pm, location-St Vrain Complex, 529 Coffman Street, Longmont
July 6, 15, 20, 27, 1pm-3pm, location-Workforce Boulder County, 1500 Kansas Ave, Longmont
Foreclosure Prevention Workshop
July 16 & 29, 4:30pm, location-Housing & Human Services, 2525 13th Street, #204, Boulder-arrive early for paperwork
All classes are free and offered in both English and Spanish. see website to register for class and for more information
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PIE/IDA CONTACTS
Catherine Middlen
PIE/IDA Program Coordinator
Foothills United Way
1285 Cimarron Drive
Suite 101
Lafayette, CO 80026
(303)444-4013 x111
Nino Gallo
PIE/IDA Program Coordinator
Boulder County Community Action Programs
3482 N. Broadway
Boulder, CO 80034
(303)441-3998
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