Family Development Account Tax Credit Program

Alert

We are now accepting applications for the FY2024 cycle of the Family Development Account (FDA) program.  Applications are accepted on an open cycle until all tax credits have been exhausted.  Awards will be made on a first received, first awarded basis, assuming all program and minimum score requirements are met. 

To be added to the email notification for upcoming cycles and program news, click here.

Description

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.

Do I Qualify?

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.

How Do I Apply?

Submitting an Application

  1. Review the FY2023 FDA Guidelines and Application thoroughly and answer each question clearly and completely. 
  2. Complete all required supporting documents/attachments.
  3. Submit ONE copy of the application PDF and all required attachments via email to community@ded.mo.gov, or via FTP upload, below.
  4. Applications will be accepted through April 30, 2024, on a first-received, first-awarded basis.

Upload Program Application(s) and Documents

The FTP is a file system that allows you to send large documents that are too big to go through email. Sending documents through FTP can also help you save space in your inbox!

To upload a file to the Finance FTP, please click the following link and enter the username and password provided below: 

Username: ded.finance
Password: BCSformupload2022

Need help? Click here.

A notification email confirming receipt will be sent to the email address listed in the application within 3 business days.

The original Application and attachments should be mailed to the address below:
Department of Economic Development
PO Box 118
Jefferson City, MO 65102

Need Help?

Email: community@ded.mo.gov

Phone: 573-522-4216

Documents