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Understanding JESA
What is JESA?
CAAB is currenly not accepting new applicants to the JESA program. The deadline to apply was May 15, 2012.
The Jobs & Entrepreneurship Stimulus Accounts (JESA) is an accelerated Individual Development Account (IDA) program for AFI-eligible persons (households below 200% of Federal Poverty Line). Participants agree to save $500 towards their small business or job training costs, and can receive up to $4,000 in matching funds.
Participants must agree to:
- Complete ten hours of financial education provided by CAAB
- Attend transformative financial coaching sessions on an as-needed basis
- Complete a minimum of four hours of entrepreneurship or job training provided by an approved partner.
Following this training period, participants will continue to receive transformational coaching from CAAB and support through CAAB’s Financial Empowerment Circles, peer-led groups of CAAB clients who are continuing to work towards economic self-sufficiency. After completing program requirements, CAAB will match each graduate’s $500 savings, when used to invest in their chosen asset, at a rate of 8:1 for a total, including client savings, of $4,500.
How do I qualify?
1) Are you a DC resident?
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YES _____
NO _____ |
2) Does your household income meet the guidelines below? (Use your household’s Adjusted Gross Income (AGI) from your most recent tax return. The term "household" includes all individuals who share use of a dwelling unit as primary quarters for living and eating separate from other individuals.)
Household Size |
Maximum Household Income |
1 adult |
$21,660 |
2 adults |
$29,140 |
3 adults |
$36,620 |
1 adult and 1 child |
$33,995 |
2 adults and 1 child |
$36,995
(married filing jointly) |
1 adult and 2 children |
$38,646 |
4 members total |
$44,100 |
5 members total |
$51,580 |
6 members total |
$59,060 |
7 members total |
$66,540 |
8 members total |
$74,020 |
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YES _____
NO _____ |
3) Are you working or receiving earned income?
*Employment can be full-time, part-time, self employment with proof of required tax documentation, or a stipend through a job training program. Unemployment, SSI, Child Support, or other forms of government assistance do NOT qualify as earned income.
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YES _____
NO _____ |
4) Is your household’s net worth less than $10, 000? (excluding a primary home and one vehicle) Net worth means the value of assets owned by all household members, excluding the value of the primary residence and one vehicle, minus the obligations or debts of all household members.) |
YES _____
NO _____ |
If you answered NO to any question you do NOT qualify for the JESA program. If you answered YES to ALL questions, please contact Shani Lee-Huggins at slee@caab.org to request a copy of the application. |
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Download CAAB's MDA brochure
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