Moneythink

Moneythink is an American educational non-profit organization that aims to increase the financial capability of American youth by training college volunteers to serve as financial mentors for low-income high school students.

The organization is self-described as “the only movement of young people working to restore the economic health of America through financial education.”[1] Moneythink’s curriculum involves the use of a mobile app to help students demonstrate their financial skills. In 2014, Moneythink began licensing this technology to other partners as a means of providing more students with financial empowerment tools.[2] Over the course of the year-long Financial Capability Curriculum, mentors teach weekly classes covering a wide range of basic financial practices and business strategies. The program also offers pre-professional activities for students to engage in, including business pitching competitions, job shadows, and visits to professional workplaces.[2]

History

Moneythink began as a student organization at the University of Chicago in 2009. Initially named the American Investment Fellows, the club was founded by students Ted Gonder, Greg Nance, Shashin Chokshi, Morgan Hartley, and David Chen. The group’s aim was to help the South Chicago community in the wake of the economic collapse by recruiting, training, and placing economics undergraduate majors in local inner-city 11th and 12th grade classrooms to teach financial literacy workshops.[3]

In fall of 2009, student-leaders at Washington University in St. Louis, USC, and other universities across the US began to work with the Chicago chapter and started identical clubs on their own campuses. Between the spring of 2010 and the fall of 2011 the concept spread to 24 campus communities nationwide. During this time, the campuses aligned under the collective name Moneythink and took on hundreds of volunteer mentors. Moneythink incubated at the Kauffman Foundation, where Ted Gonder professionalized the organization, and eventually gained official 501(c)(3) non-profit status.[4]

In 2011, Moneythink named Gonder their chief executive officer and brought on board a full-time staff. In 2012, Moneythink received the White House Champions of Change award and set the goal of achieving mainstream financial capability among American youth by 2030. In the winter of that same year, the organization’s logo was featured on the NASDAQ billboard in Times Square.

In 2013, Moneythink began collaborating with IDEO to develop a mobile app to be used in classrooms along with the Financial Capability Curriculum. In 2014, the app officially launched for use in participating classrooms.[5]

Reach

Moneythink programs currently operate at 31 universities across the United States. The organization consists of over 600 student mentors and has reached over 6000 students so far in the past four years.[2]

University of Chicago Delta State University University of Southern California Washington University in St. Louis
Coahoma Community College University of Maryland Vanderbilt University Claremont Colleges
Stanford University University of North Carolina at Chapel Hill University of Mississippi University of Pennsylvania
Boston College Temple University Northwestern University Columbia University
Rice University Loyola University Chicago Georgia Institute of Technology Seattle University
Chapman University Princeton University University of South Carolina Yale University
Carnegie Mellon University Babson College University of Michigan University of Notre Dame
University of California, Los Angeles Georgetown University

Recognition

  • 2013 winner of the State Farm Neighborhood Assist grant.[6]
  • 2013 MassChallenge winner.[7]
  • 2012 winner of Chicago Innovation Awards Up-and-Comer Award.[8]
  • 2012 finalist in the Booth School of Business Social New Venture Challenge.[9]
  • 2012 winner of the White House’s Champions of Change Campus Challenge.[10]
  • Rang the NASDAQ stock market closing bell on February 25, 2012.[11]

Partners

  • Teach for America
  • IDEO
  • Center for Financial Services Innovation
  • Blackstone Charitable
  • Chase Community Giving
  • State Farm Neighborhood Assist

[12]

References

  1. ^“Moneythink: DNA”. Retrieved 2015-07-13.
  2. ^ Jump up to:ab c “Moneythink: Our Approach”. Retrieved 2015-07-14.
  3. ^Gonder, Ted. “Abandoning Mediocrity and Seizing Opportunity”. White House. Retrieved 2013-08-21.
  4. ^Dalal, Parth. “Company History of Moneythink”. Missing or empty |url= (help)
  5. ^“The Moneythink App Is Live”. 2014-03-05. Retrieved 2015-07-31.
  6. ^“Moneythink”. State Farm. Retrieved 2013-08-21.
  7. ^“Moneythink”. Retrieved 2014-04-09.
  8. ^“Up-and-Comer Awards Winners”. Chicago Innovation Awards. Retrieved 2013-08-21.
  9. ^“LuminAID Lab Wins Social NVC”. 2012-06-01. Archived from the original on 2012-06-18.
  10. ^“Congrats to Moneythink – White House Campus Champions of Change Challenge”. Chicagood.
  11. ^Gonder, Ted. “Giving a Hand up (Not a Handout)”. GOOD Magazine. Retrieved 2013-08-21.
  12. ^“Top Donors”. Moneythink. Retrieved 2013-08-21.

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