Individual Development Accounts are a proven, effective tool for building hope and stability. In the 2008 calendar year, NP raised $4.5 million in donations for this program through the IDA 75% Oregon Tax Credit which creates a pool of match funding for participants that complete financial education and asset specific training. Every dollar they save toward their goal is matched by three dollars of tax credit funds. Thanks to the Oregon IDA Initiative’s strong network of community partners & the resources provided through the IDA Tax Credit more than 1100 individuals throughout Oregon have met their savings goals and purchased their asset. With your help we can increase these numbers in 2010!
IDAs build long term life skills. According to research conducted by Portland State University’s Regional Research Institute, twelve months after purchasing their asset 59% of participants often use a budget to monitor their expenses and 41% are regularly making deposits to their savings.
You can make a difference! By donating to Neighborhood Partnerships before December 31st you can help hard working Oregonians develop long lasting life skills and launch a new business, gain access to higher education or purchase a new home. But time is running out! The 2009 75% IDA Tax Credit expires this Thursday. 75% of every dollar you contribute before December 31st will come back to you as a state tax credit. That’s like only paying $25 to give $100! Plus, over 95% of your donation will go directly toward supporting the Oregon IDA Initiative.
To learn more go to http://ida.neighborhoodpartnerships.org or call Cynthia Winter at 503-226-3001×101. Call today!