Individual Development Account (IDA)
 
Starting Savings to realize a dream of a home or business!
The story of the IDA Program in Detroit begins with Michigan Neighborhood Partnership. MNP is the oldest IDA program in Metropolitan Detroit having begun our program in 1999. team
 
Sign Up for Circles of Hope Information here!
 
The story of the IDA Program in Detroit begins with Michigan Neighborhood Partnership. MNP is the oldest IDA program in Metropolitan Detroit having begun our program in 1999. IDA is a unique programs developed to help low income individuals build assets and participate in the American dream of homeownership, owning a small business or continuing with a post secondary education. Since developing the program in 1999, over 200 Detroiters have increased their assets and moved from dependence to wealth building. Program participants have started day-care centers, recording studios, produced movies with Hollywood actors, started dance studios, created commercial photography studios, began landscaping industries, graphic arts studios and retail clothing outlets.
 
On the homeownership front, MNP has helped many clients purchase new homes by using their IDA accounts as down payments. In the area of post-secondary education, we have seen our clients complete vocational educations, junior college, and graduate with Bachelor's and Master's Degrees.
 
This year we are extremely excited to introduce two (2) new concepts that will literally expand our collaborations and impact the lives of hundreds of low-income families. These IDA program concepts are: Circles of Hope and a virtual IDA Business Incubator.
 
Circles of Hope
Circles of Hope (COH) is an integrated approach to empowering one of the most challenged groups in American society young single mothers.
 

Circles of Hope (COH) is an integrated approach to empowering one of the most challenged groups in American society today - young single mothers.

The program connects participants with seasoned women in faith-based organizations to provide mentoring, long-term support and family support training. Through COH, the participants will save one thousand dollars over a minimum of 12 months and MNP will award them five thousand dollars to be used for the purchase of a home, starting a micro enterprise or continuing their post-secondary education.

These young mothers will participate in retreats, financial literacy classes and hear the personal testimonies of women that are successful mothers. COH has an Advisory Board, which oversees program activities and content, representing women and some men from all spectrums of society.

 
The program is based on four Circles of Hope.
unity (in unity we have strength),
faith (in faith we take charge),
knowledge (in knowledge we have power)
action (in action there is a future).
 
 
 
 
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