Invest in yourself, others and Kansas through the Individual Development Account Program.
Program Purpose and Overview
The Individual Development Account (IDA) Program allows qualified Kansans of low income levels the opportunity to achieve financial self-sufficiency through education and asset development via special savings accounts. The IDA program allows qualified Kansans of higher income levels the opportunity to help others achieve financial independence while receiving income tax credits for program contributions.
IDA program participants must meet income and asset guidelines and complete an online money management course before they can open a special savings account that is eligible for a 2:1 match for every dollar they save. The online course allows Kansans to hone their financial responsibility skills and provides the foundation for future stability and self-sufficiency. Program participants can use the accrued savings to:
- Purchase a first home
- Pay for home repairs
- Capitalize a small business
- Pay for college or specialized training
IDA program contributors provide the matching funds for participant savings accounts and are eligible receive a Kansas income tax credit valued at 75% of their contribution amount.
The Kansas Department of Commerce (Commerce) oversees the program and allocates up to $500,000 in state income tax credits each calendar year. Commerce has designated Interfaith Housing Services, Inc., a community-based organization located in Hutchinson, as the sole provider of IDAs in Kansas. Commerce also partners with the Kansas Department of Revenue to administer the tax credits for qualified program contributors.
Be an IDA Program Participant
To apply to become an IDA program participant, please click here.
Be an IDA Program Contributor
To apply to become an IDA program contributor and receive a 75% state income tax credit, please click here.
IDA Program Contacts:
- For applicant and contributor inquiries: Lorna Moore, Director of Operations & IDA, Interfaith Housing Services, Inc., 1-877-447-5927 Ext. 702
- For tax credit inquiries: Justin Carroll, Financial Economist, Kansas Department of Revenue, 785-296-8042
- For general inquiries: Brett Sayre, Program Manager, Kansas Department of Commerce, 785-296-5418