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| Key Components of MYOI |
Youth Boards
- Identifies the needs of foster youth.
- Advocates for the thousands of foster youths in the
state.
- Informs, educates & inspires key stakeholders.
- Effects real system reform.
- Recruits and mentors other foster youths.
- Youth-designed, youth-run and youth-driven.
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Board of Community Partners committed
to improving outcomes for these youth
- Key local decision makers in child welfare, public
policy and practice, education, housing, employment, banking,
and other social structures.
- Stakeholders in the business community, service
clubs, faith community, community agencies, individual volunteers
and others.
- Active Youth Board member(s).
- Partners with the Youth Board to meet the needs
identified by youth.
- Recruits mentors and "door openers" in the community.
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Opportunity Passports™
- Individual Development Account (matched savings
account) to be used for designated purposes.
- Debit (checking) account with ATM card and no
paper checks, for whatever purpose the youth desires.
- "Door openers" designed by the community.
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Individual Development Account (IDA)
- To help youths earn and save money for short-term
and long-term asset building.
- Matched by the grant 1:1.
- Requires 8 hours of financial literacy training
and completion of regular surveys to track outcomes.
Allowable Uses for IDA Match
- Housing down payment or rent deposit.
- Medical, dental or other health costs.
- Insurance (renter's, health, auto).
- Education or training costs.
- Car purchase and licensing.
- Microenterprise.
- Investments (stocks, 401(k) or IRAs.)
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