Family Development Account Tax Credit Program

Community-based organizations can access financing to administer a family Development Account project to help low-income residents participate in matched savings programs. These savings programs will help families in your community pay for school, purchase a new house, make home improvements, or start up a small business.

Applications accepted year-round.
Eligibility requirements: 

A community-based organization formed under Chapter 352, RSMo or any non-profit corporation formed under Chapter 355, RSMo.

ELIGIBILITY CRITERIA:
The Department of Economic Development (DED) issues state tax credits to an eligible taxpayer who donates money to an organization approved to administer a Family Development Account (FDA) project.

Organizations approved to administer a Family Development Account project recruit low-income Missourians to participate in a matched savings program to help pay for:

  • Education at an accredited institution of higher learning;
  • Purchase of a primary residence;
  • Major repairs or improvements to a primary residence; or
  • Start-up capitalization of a small business.

Application Process

Additional information: 

Program News