Juma Ventures founded in 1993 as a non-profit Ben & Jerry's Ice Cream Shop to provide job training to youth, Juma began offering financial education and asset-building services to teens in 1999, and is one of the oldest and largest youth IDA programs in the country. Juma Ventures has a 19 year history serving at-risk low-income youth in job training and placement as well as educational support services., and has operated IDA programs for 13 years.
Participants save $500, matched with $500 from the CollegeSet. Each Participant receives an additional $1,000 gift deposits when opening the IDA, completing the FAFSA, graduating from high school, and enrolling in postsecondary education. Participants have a maximum of one year to make an approved expenditure after the savings period, and must attend financial capability workshops on a range of financial topics, and create a financial plan to use of their IDA funds for qualified purchases.
Lead partners National College Access Network (NCAN) and Beyond 12 will work with seven nonprofit NCAN members (Bottom Line, Children’s Aid Society, Harlem Children’s Zone, and CUNY’s At Home in College transition program in New York and College Track, Upward Bound and 10,000 Degrees in the San Francisco Bay Area) to identify, recruit and provide ongoing support for youth participants. Citibank will maintain the Reserve Fund and Participant Accounts.
Assets for Independence Grant History
Juma Ventures - Asset Program
224 IDAs have been opened.
12 participants have received financial education.
$126,076 saved by participants.
31 participants have purchased an asset.
Total AFI Funding
Total AFI Grant Funding:
Total Non-Federal Support: $2,007,075
Juma’s proposed AFI project will serve 840 low-income high school juniors and seniors in high-need San Francisco Bay Area and New York City communities who are first-in-family to go to college.
131 Steuart Street, Suite 201 San Francisco, CA 94105
(415) 371-0727 www.juma.org