The Department of Economic Development will be accepting applications for the FY2025, estimated to open in late July 2024. Applications will be accepted through April 30, 2025, on a first-received, first-awarded basis.
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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?
The Department of Economic Development will be accepting applications for the FY2025, estimated to open in late July 2024. Applications will be accepted through April 30, 2025, on a first-received, first-awarded basis.
To prepare for this application, please gather the following information and documents listed below.
- Organization FEIN (Federal Employer Identification Number)
- Organization NAICS
- Organization E-Verify MOU (see the FDA Guidelines for more information)
- Organization Articles of Incorporation (and Bylaws if applicable)
- Organization 501(c)(3) IRS letter (if designated as a 501(c)(3))
- FDA Application Certification (Download also available from the Attachments section of the application)
Program Document Upload - Existing Projects Only
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, 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.
Program documents can be accepted as either digital or original documents. If you choose to mail an original document, please refrain from uploading a duplicate. Likewise, please do NOT mail an original copy if you have uploaded the same file through this web page.
Any original documents 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