New Jersey Administrative Code
Title 5 - COMMUNITY AFFAIRS
Chapter 46 - NEW JERSEY INDIVIDUAL DEVELOPMENT ACCOUNT PROGRAM RULES
Subchapter 1 - GENERAL PROVISIONS
Section 5:46-1.3 - Participation criteria for organizations

1. It shall qualify as a tax-exempt, not-for-profit organization under sections 501(a) and 501(c)(3) of the U.S. Internal Revenue Service;

2. It shall maintain sufficient facilities that are reasonably accessible to account holders, including people with disabilities;

3. It shall have human and material resources sufficient to implement the Program in its local community and shall have a history of providing service to low-income persons in that community and of success in raising funds for that purpose. If it is a new organization, it shall have staff and board members who have had such experience in other organizations;

4. It shall present a workable plan for development, implementation and management of an individual development account program in the community, which plan shall include endorsement from at least one cooperating local financial institution. The plan shall indicate the length of time, in months and years, of the operation of the program by the organization, taking into account the resources that are or will be available;

5. It shall offer a comprehensive economic literacy program suited to the needs of the participating individuals, either with its own staff or under a proposed agreement with a qualified provider organization;

6. It shall identify the target population, together with a workable plan to exceed, to the extent that it shall identify, the minimum requirement of 33.3 percent participation by current or former WorkFirst New Jersey recipients pursuant to P.L. 1997, c. 38 (44:10-55 et seq.), or Aid to Families with Dependent Children recipients, or Temporary Assistance for Needy Families (TANF) recipients pursuant to 42 U.S.C. §§ 601 et seq. when using Federal TANF funding; and

7. It shall demonstrate that it has made a good faith effort to develop a satisfactory working relationship with the WorkFirst New Jersey Program and with the Workforce Investment Board of the county in which the community is located; and