Building community assets through individual development accounts : growing a strategic network in Lawrence, Massachusetts

This thesis aims to inform the decision-making process for growing an asset-building program through strategic partnerships with other community-based organizations (CBOs). The impetus for this paper came from Lawrence CommunityWorks, a CBO in Lawrence, Massachusetts that is interested in substantially expanding the number of Individual Development Account (IDA) program participants in Lawrence by at least 75 accounts, or a 400% increase. The expectation is that this increase in IDAs will contribute to a place-based asset-building strategy that gives Lawrence residents the financial, human and social capital to revitalize this historic mill city. Asset-building, through IDAs, has emerged as a tool by which individuals and families in Lawrence have been able to overcome challenges of divestment and immigration, to invest in assets that provide financial security. This thesis identifies metrics of success in the IDA program at CommunityWorks through the perspective of graduates of the program in an effort to identify and understand the elements of the program which must be preserved as the program grows. This thesis also presents a conceptual map for CommunityWorks to consider as they make strategic decisions about partnering with other CBOs to expand their IDA program.