Administrative Structure

The Washington State Department of Commerce administers the IDA program through contracts with service providers for local service delivery. Service providers are responsible for local IDA program management and operations including:

• Accepting applications and determining eligibility for the program
• Developing individual savings plans for each accountholder
• Providing financial literacy and other types of training and/or counseling to prepare accountholders for their asset purchase
• Providing basic support management for each accountholder and coordination

Click here to view our contractor contacts for more information.

Budget

• The 2005-2007 Biennial Budget (State General Funds) is $1,021,000. These IDA treasury account funds support administration, program operations and local IDA projects. Contracts are through the 2005-07 biennium and will be renewed in the 2007-09 biennium for up to a four year savings period for accountholders. All funds are presently allotted and contractors are enrolling new accountholders.
• In December 2005, Commerce announced funding for seven innovative IDA projects serving King, Snohomish, Spokane, Pierce, Cowlitz, Wahkiakum, Yakima and Island counties.
• Commerce funded one-third of the total dollars requested by the eleven proposals.

How can I learn more?

• Contact Us