Sample Request for Proposals

This sample Request for Proposals is designed to assist AFI grantees with selecting entities to enter into contracts or sub-grantee arrangements with for providing IDA services. It is designed to enable AFI network project grantees cast a broad net to seek eligible nonprofit organizations to implement IDA projects.

Overview

Asset building initiatives seek to enhance economic stability for low-income house-holds and to strengthen communities through the delivery of financial literacy training and matched savings accounts called individual development accounts (IDAs). Amounts saved and matched in IDAs are for use in purchasing assets—a first home, pursuit of a post-secondary education, or launching or expanding a business.

An array of community partners—including community agencies with ties to eligible participants and financial institutions—are needed to make an asset building program successful. One such collaborative effort is managed by AFI NETWORK PROJECT GRANTEE funded by the Federal Assets for Independence (AFI) program and other sources.

The AFI NETWORK PROJECT GRANTEE is seeking proposals from eligible agencies to administer an IDA Project Site and as such, to deliver IDA services, to low-wage working individuals and households in the TARGET AREA.  Selected entities will operate as contractors (or sub-grantees) in delivering IDA services.

Services to Provide

• Eligible IDA participants include persons whose income is less than or equal to 200% of the federal poverty level or who are eligible for TANF or EITC. Services to be delivered include the following:
• Recruit, screen, and enroll applicants using methods established by the AFI NETWORK PROJECT GRANTEE.
• Provide assistance to participants in opening IDA custodial/trustee accounts held on deposit in insured financial institutions. These are matched savings accounts. For each $1 the participant deposits, the IDA project will match that amount with $   , up to $             in total match over the period of        months. Match funds are provided by the AFI NETWORK PROJECT GRANTEE, as the recipient of Federal AFI funds. A procedure, developed by the AFI NETWORK PROJECT GRANTEE, shall be used to disburse match funds in accordance with program requirements.
• Provide participants with a minimum of           hours of financial education classes, defined as a curriculum or courses designed to enable participants to understand financial terms and concepts and translate that knowledge into practice.
• Although optional, this RFP provides a funding preference for proposals that include delivery of asset-specific education classes (SPECIFY: first-time homebuyer, post-secondary education, and business start-up classes) to participants that successfully achieve their savings goals.

Proposal Requirements

Describe the following, in the order outlined. As appropriate, provide specifics in such terms as quantity, time period, responsible parties.

Population

Describe the population(s) proposed for the IDA project in terms of geographic location; demographics; capacity to engage in financial literacy training; monthly savings; and asset purchases.

IDA Project

Recruitment. Describe how outreach will be conducted in recruiting participants in such terms as the number of recruitment sessions to conduct; individuals to reach; and methods to use.

Participants and IDA Accounts. State the number of participants to be enrolled and the number who will open IDAs.  Identify the monthly savings required from participants in order to receive matching funds; duration of savings period (number of months); and total savings required of participants before they may withdraw IDA match funds for asset purchase

Training, Case Management, Counseling. Describe how financial education for participants will be provided, identify who will provide training, the name of the curriculum and other training materials, and the number of training hours provided per participant.  Describe the type of asset training to be provided as well as how it will be provided to participants, the qualifications of staff/agency to provide training, and the number of hours per participant. Describe how counseling will be provided to participants, including qualifications of staff members/agency, to help IDA participants complete savings plans and purchase desired assets.

Asset Purchase Support. Indicate the anticipated number of participants who will complete a savings plan and achieve asset acquisitions (as applicable, for homeownership, post secondary education, and/or microenterprise). Describe how asset purchase support will be provided in terms of who will provide the support and how.

Workplan/Timeline. Assuming a period of        months for recruitment, savings/training, and asset purchase, provide a brief workplan that outlines implementation of the above program plan in terms of staffing and management. Also provide a MONTHLY/ QUARTERLY timeline outlining when activities will be conducted and responsible parties.

Financial Institutions

Identify the financial institution(s) to be used for the IDA accounts.

Agency Capabilities

Describe the agency's capacity to deliver services outlined in the project plan. Identify staff experience and expertise, existing or related programs, partnerships, and other factors. If another organization will have roles in implementing the plan, please include a copy of a Memorandum of understanding or other documentation of the agency's agreement and obligation to provide support.

Data and Evaluation

Describe how the agency will collect and report data for the annual AFI data report, specifying: who will input data; ensure its quality; and compile/transmit the data in desired formats. (Note: AFI NETWORK PROJECT GRANTEE has designated NAME OF SOFTWARE for use in compiling and reporting data.)

Selected entities shall collect and report the following data, which is based on information OCS requires for annual data reports as well as details needed for on-going performance management.  These data elements are consistent with the AFI program performance indicators.  Selected entities may be required to collect additional data.

SAMPLE Data Items to be collected
 

Key Activity: Participant Recruitment and Management of IDA Savings and With-drawals

1.A. Number of participants acquiring asset goal.

1.B(i) Number of IDAs opened.

1.B(ii) Number of people on the waiting list to open an IDA.

1.C. Number of people engaging in program activities that prepare them to enter into the savings program.

1.D. Average time to complete asset purchase.

1.E. Number of account closings for reasons other than asset purchase.

1.F. Number of participants who have achieved their savings goals.

1.G. Total savings deposits.

Key Activity: Participant Training and Counseling

2.A(i) Number and percentage of AFI IDA participants completing economic skills classes.

2.A(ii) Number and percentage of all participants completing economic skills classes.

2.B(i) Number and percentage of AFI IDA participants completing asset-specific training.

2.B(ii) Number and percentage of all participants completing asset-specific training.

2.C(i) Number and percentage of AFI IDA participants receiving specialized/advanced financial education or one-on-one counseling.

2.C(ii) Number and percentage of all participants receiving specialized/advanced financial education or one-on-one counseling.

Key Activity: Timely and Accurate Program Reporting and Monitoring

4.A. Ratio of IDA savings to cost of services (after 2-3-4 years).

4.B. Ratio of dollar amount and in-kind services raised to federal grant amount spent

4.C. Rate of drawdown of Federal dollars.

4.D. Timely submission of accurate reports.

4.E. Timeliness and accuracy of annual data report.

4.F. Percentage of critical project goals achieved.

Budget/Budget Narrative

Use the attached budget information format for the proposed budget. Please provide a budget narrative to explain line item expenditures in the budget.

Application Essentials

Eligible Applicants. DEFINE

Deadlines.  Proposals are due by MONTH, DATE, YEAR, TIME and must be received at SPECIFY LOCATION OR ELECTRONIC SUBMISSION EMAIL ADDRESS.

Page Limits and Formats.  Proposals must be under     pages, inclusive of appendices (or exclusive of appendices), formatted for 8.5 x 11 paper, SPECIFY FONT, SIZE, MARGINS.  Pages must be numbered. A total of      copies (one original and       copies) must be provided.

Awards. Awards will be announced by MONTH, YEAR. AFI NETWORK PROJECT GRANTEE, as the fiscal agency, is soliciting proposals and will coordinate review and selection of agencies, utilizing an objective review process.

Background: Possible Division of Roles and Responsibilities between AFI Grantee and Sub-Grantee

Below is a summary of roles and responsibilities under the  AFI NETWORK PROJECT GRANTEE. Additional information about the federal AFI Program can be found at https://www.acf.hhs.gov/programs/ocs/programs/afi . Information about  AFI NETWORK PROJECT GRANTEE can be found at the WEBSITE.

AFI NETWORK PROJECT GRANTEE

• Establish and maintain the AFI Project Reserve Fund.
• Coordinate partner relationships, training, technical assistance, statewide/regional data collection, analysis, and reporting.
• Create and establish a fiscal system to guide management of the Project Reserve Fund and disburse funds for asset purchases and for project operations.
• Identify eligible Sub-Recipients.
• Raise necessary funds for IDA projects.

Sub-Recipient(s)

• Manage the daily operations of the IDA project at its site.
• Negotiate agreements with community partners, including financial institutions, to implement IDA project activities.
• Screen and enroll IDA participants.
• Assist IDA participants to open IDA accounts and hold custodial ownership of the accounts along with IDA savers.
• Approve all withdrawals from participant accounts with notification to AFI NETWORK PROJECT GRANTEE. (NOTE:  This function may be treated differently from project to project.)
• Maintain information in IDA participant files, including case notes, savings goals, savings agreements, monthly statements, completion of financial education classes, and other information necessary for project maintenance.
• Create and maintain Savings Plan Agreements between account holders and SUB-RECIPIENT.
• Participate in monitoring meetings.
• Develop budgets and participate in fundraising activities.