Child Savings Account Grant Program

Overview

Child Savings Account (CSA) Grant Program


UPDATED: January 22, 2020
  • On January 21, 2021, the Commission approved funding for eleven CSA groups. Click to view final CSA grant awards.
  • The application period is closed. CSAC is no longer accepting grant applications.

The Child Savings Account Grant Program (CSA Grant Program) was enacted in the 2019-20 State Budget (Education Code Sections 70115-70115.2, added by Stats. 2019, Ch. 53, Sec. 18) to support local governments and nonprofit organizations that sponsor or collaborate on one or more comprehensive citywide or regional child savings account programs.

The Budget Act of 2020 appropriates ten million dollars ($10,000,000) in one-time General Fund dollars to the CSA Grant Program. The amount of each grant award shall be at a minimum, one hundred thousand dollars ($100,000).  Of the ten million dollars ($10,000,000):

  • Up to 74 percent or seven million four hundred thousand dollars ($7,400,000) of the funding shall be used to initiate new local child savings account programs.
  • A minimum of 24 percent or two million four hundred thousand dollars ($2,400,000) of the funding shall be used to expand existing local child savings account programs.
  • Two percent or two hundred thousand dollars ($200,000) shall be used by the Commission to provide outreach and administration of the program, and to provide technical assistance to applicants.

Who can apply?

  • New Programs – CSA programs that are in planning or under discussion, and do not have children enrolled in the program with open accounts at the time of the application submission.
  • Existing Programs – CSA programs that are in operation and have children enrolled in the program with open accounts at the time of the application submission.

Request for Applications (RFA)

All completed applications must be submitted to csa@csac.ca.gov by November 20, 2020 by 3:00 PM PST. Due to COVID-19, the Commission will not accept physical applications.

  1. CSA Form A
  2. CSA Form B
  3. CSA Form C
  4. CSA Forms D-G
  5. Application Checklist
  6. Scoring Rubrics

RFA Amendments (as of October 30, 2020)

On page 18 of the CSA RFA, item (e) under “To find the mean and median incomes of families in the program’s geographic region” (1) “Number” should be “Households” and (2) item II has been added to mirror instructions provided during the Webinar.

Click “Hide”

I. De-select “Number” “Households”, “Married-couple families”, and “Nonfamily households”.

II. De-select “Margin of Error” under “Families”.

Your customized table should look like this:

Child Savings Account Table

Questions & Responses

  • Responses to questions about the CSA Grant Program and Request for Applications are now available. Please click on link to view: Questions & Responses

Technical Assistance Webinar (October 16, 2020)

  • CSAC hosted a Technical Assistance Webinar on October 16, 2020 via ZOOM for potential applicants to learn about the CSA Grant Program, walk through the application components, and ask questions. 
  • CSAC currently does not anticipate on hosting another Technical Assistance Webinar. 
  • The webinar can be viewed here.
  • The PowerPoint Presentation can be viewed here.

Questions to CSAC (due October 23, 2020 at 3:00 P.M. PST)

  • Questions about the CSA Grant Program and Request for Applications must be submitted to csa@csac.ca.gov by October 23, 2020 at 3:00 P.M. PST. 
  • Responses will be posted on this webpage on October 30th, 2020. CSAC will send notice (through the CSA mailing list) when the responses are available.

Child Savings Account Resources

CSA Coalition Roster

  • The California CSA Coalition is made up of CSA providers and stakeholders from all over the state who work together to develop the CSA network and programs. Click to view CSA Coalition Roster

CSA Starter Kit from Prosperity Now

ScholarShare 529 Children’s Savings Account Platform

  • California’s state-sponsored 529 college savings plan, ScholarShare 529, offers a Children’s Savings Account (CSA) record-keeping platform designed to support non-profit organizations, local governments, and school districts interested in establishing a CSA program of their own. For more information about starting a new CSA program, ScholarShare 529’s CSA platform, and the benefits of using ScholarShare 529, visit  https://www.scholarshare529.com/plan/CSA.shtml

Publications from the Brown School Center for Social Development at Washington University in St. Louis.

The Consumer Financial Protection Bureau (CFPB) has published two guides that provide metrics for Child Savings Account programs.

  •  “Design and Evaluation Principles for Children’s Savings Account Programs,” presents key considerations for CSA programs seeking to measure program outcomes and provides guidance on selecting the best performance indicators for a given program and monitoring progress toward goals.  
  • “Common Metrics for Children’s Savings Account Programs,” proposes a set of standard measures for the CSA field.  Organizations can then select measures aligned to the specific CSA program goals from the “menu” of options.  
  • The guides can be found here.