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| Key Components of MYOI |
Youth Boards
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Identifies the needs of foster youth.
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Advocates for the thousands of foster youths in the state.
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Informs, educates & inspires key stakeholders.
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Effects real system reform.
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Recruits and mentors other foster youths.
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Youth-designed, youth-run and youth-driven.
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Board of Community Partners committed to improving outcomes for these youth
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Key local decision makers in child welfare, public policy and practice, education, housing, employment, banking, and other social structures.
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Stakeholders in the business community, service clubs, faith community, community agencies, individual volunteers and others.
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Active Youth Board member(s).
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Partners with the Youth Board to meet the needs identified by youth.
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Recruits mentors and "door openers" in the community.
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Opportunity Passports™
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Individual Development Account (matched savings account) to be used for designated purposes.
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Personal Savings account with ATM card.
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"Door openers" designed by the community.
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Individual Development Account (IDA)
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To help youths earn and save money for short-term and long-term asset building.
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Matched by the grant 1:1.
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Requires 8 hours of financial literacy training and completion of regular surveys to track outcomes.
Allowable Uses for IDA Match
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Housing down payment or 1st month rent & security deposit.
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Medical, dental or other health costs.
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Insurance (renter's-at time of deposit, health, auto)].
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Education or training costs.
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Car purchase and licensing (at time of purchase).
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Microenterprise.
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Investments (401(k) or IRAs.)
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