HOPE03-25 - Program Administrator

The California Hope, Opportunity, Perseverance, and Empowerment (HOPE) for Children Trust Account Program is seeking a Program Administrator through Request for Proposals (RFP) No. HOPE03-25 to establish and manage trust accounts for vulnerable children. The program targets children who have lost a parent to COVID-19 or have been in foster care for at least 18 months, with an estimated initial population of 46,552 children and approximately 8,000 additional eligible children annually. The selected vendor will be responsible for developing investment options, managing account recordkeeping, creating a mobile-optimized website, and providing quarterly reports. Key deliverables include establishing a comprehensive trust account system that supports economic opportunities and intergenerational wealth building for low-income children who have experienced significant trauma. The proposal submission deadline is September 5, 2025, with an anticipated contract commencement on October 31, 2025, and a program launch targeted for the first quarter of 2026. The contract term is three years, with options to extend for three additional one-year terms.

The RFP does not explicitly specify set-aside designations or restrictions on respondent types. The total contract value shall not exceed $1,900,000, including potential extensions, and will be funded through state appropriations with potential additional contributions from federal, philanthropic, and other sources. Trust accounts will be treated as state assets until withdrawn by eligible youth and will not be considered income or assets for means-tested program eligibility. Account holders will be able to transfer or withdraw funds beginning at age 18, with support for transferring to other savings or investment accounts. The program emphasizes financial opportunities for children who have experienced significant life challenges, providing a structured mechanism for economic empowerment. Qualified firms with experience in program administration and investment services for youth-focused programs are encouraged to respond to the solicitation, with a focus on creating innovative financial solutions for vulnerable children.