Financial Literacy For All
The mission of the ChooseFI International Foundation is to bring financial literacy and financial independence concepts to underserved communities, Military families, and students across the country. Through the creation and sharing of high impact content, using curriculum, media and technology; and delivered by dedicated volunteers of a grassroots movement, the concept of financial independence has the potential to change the world and TO transform the lives of those it reaches.
Who We Serve
The ChooseFI International Foundation was created to educate underserved communities about financial literacy and introduce them conceptually to financial independence. As of 2019, our focus is on these three communities:
- School-going children from kindergarten through high school where financial literacy is not readily accessible. We want to position them for their best possible lives, before poor financial habits take hold.
- Active duty servicemen and servicewomen who may not be aware of the many financial benefits and programs that are already available to them. It is our hope that when it comes time for them to separate from service, they will be well on the path to financial independence.
- Working adults who are mired in debt, and who never got the chance to learn how to manage their finances and become financially secure. Our goal is to help them eliminate debt, and start building towards financial independence.
How We Serve Them
The Foundation accomplishes its mission in three ways:
- Content Creation: The curriculum and content created by the Foundation was created by a dedicated group of educators, active duty servicemen and servicewomen, and financial professionals in the financial independence community. Depending on the intended audience, the format can be online or as physical materials, and the tone and depth adjusted as appropriate.
- Outreach: Just as crucial as the creation of high-impact content and curriculum is getting them into the hands of the people who need them. These include the creation of a Speakers' Bureau, as well as engaging with media, bloggers, the ChooseFI community and directly with educators.
- Partnerships: To help scale our reach, the Foundation has partnered with other non-profits, such as Junior Achievement and RIP Medical Debt, to bring our concepts to a wider audience.
Here are the key programs of the ChooseFI International Foundation:
- Financial Independence Courses: We're beginning with FI 101, which will be the entry point for more advanced topics offered by the Foundation’s Academy around building income potential, investing, tax optimization, and lifestyle design.
- Military and First Responder Financial Independence: These courses will be targeted for the specific situations of active duty servicemen and servicewomen, as well as first responders.
- K-12 Curriculum: We've completed the development of an in-depth K-12 curriculum. Given our understanding of the red-tape and politics associated with a top-down approach to education, we've decided to take a grass-roots, bottom-up approach instead and to target homeschools as well as charter and independent schools.
- Speakers' Bureau: The Foundation has created a Speakers' Bureau with the goal of validating and matching volunteers with opportunities to take the content to schools, libraries, community centers, military bases, and even corporate venues.
2019 Financial Report
Directors' Donations: $25,600 (Shawn Jenkins, Bradley Barrett, Paula Pant, Jonathan Mendonsa, Edmund Tee)
In-kind contributions from ChooseFI Media, Inc: $27,300 (incubation funding of editorial and video work, design, and content creation, not included in Foundation's Statement of Activity)
Public Donations: $19,325
Total Donations: $72,225
How we use your money (as of Dec 1, 2019)
As a soldier deployed during disaster relief operations, Edmund Tee, the Executive Director of the Foundation, was repeatedly frustrated by the inefficient use of resources by some non-profit aid organizations.
Ed knew that if he started his own non-profit, he would want the donors to get a crystal clear sense of how their funds were being deployed and to ensure those precious dollars were spent as wisely as possible.
The ChooseFI International Foundation will update this section with:
- a quarterly statement of activity (see screen capture above),
- a brief update on key projects and expenditures (see below).
Website, Design, Software: $2,886
As part of start up, we've allocated funds to get the Foundation set up. We expect this to be significantly less moving forward.
FI 101 Courses: $10,845
The free FI 101 course will launch in Jan 2020. The main costs include script-writing, curriculum development and design. ChooseFI Media, Inc provided $6,000 of incubation funding to shoot, edit, and render the video lessons - this sum is not reflected in the Foundation's Statement of Activity.
Military and First Responder FI: $1,500
We expect to launch the Military FI beta in Jan 2020. The $1,500 was contributed as incubation funding by ChooseFI Media, Inc, to pay for curriculum development and not included in the Foundation's Statement of Activity.
K-12 Educational Curriculum: $19,800
The existing curriculum that our educators' group has been building for elementary, middle, and high schools was completed in October 2019. The next step is to build out the webpages for the K-12 group, and optimize for a grassroots outreach focusing on homeschools, charter and independent schools. Of the $19,800 spent on K-12 curriculum development, $16,100 was incubation funding by ChooseFI Media, Inc and not included in the Foundation's Statement of Activity.
Speaker Bureau: $1,500
We are currently reviewing the volunteer speaker corps, and expect to have 50 set up in the bureau. Our goal through 2021 is to have more than 1,000 speakers to cover most major U.S. cities.
Administration Costs: $0
In keeping with our distaste for waste, all the work that is being done to manage the foundation has been volunteered by the executive team.
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