Charles Schwab Foundation Renews Its Commitment to Fund the Money Matters: Make It CountSM Financial Education Program with Boys & Girls Clubs of America
SAN FRANCISCO, June 3, 2009 — Charles Schwab Foundation announced today that it is renewing its commitment to continue funding Money Matters, the financial education program offered through every Boys & Girls Club that serves teens throughout the U.S.
Nearly 180,000 youth at approximately 1,500 teen Boys & Girls Clubs across the U.S. have participated in Money Matters since the program's launch in mid-2004, according to data just released by Boys & Girls Clubs of America. During 2008 alone, approximately 60,000 Club teens completed Money Matters, far exceeding expectations. In addition, over the past five years, Charles Schwab Foundation has presented a cumulative total of $300,000 in scholarships to 147 Club teens who completed Money Matters and demonstrated exceptional financial skills from their newly acquired knowledge of personal finance.
In recognition of the program's success, the Committee for Encouraging Corporate Philanthropy presented Boys & Girls Clubs of America its Directors' Nonprofit Award at its annual Excellence Awards in Corporate Philanthropy recognition event last night at the New York Historical Society in Manhattan. Award recipients are selected for their demonstrated excellence in philanthropy according to the following criteria: CEO leadership, innovation, measurement, and partnership. The award includes a $25,000 grant, which will be used to expand the number of Boys & Girls Club teens who can receive scholarships after completing Money Matters.
"Today's youth will be a tremendous force in the future economic well-being of this country," said Carrie Schwab-Pomerantz, president of Charles Schwab Foundation. "By reaching so many young people each year, the Money Matters program is laying a strong foundation for their financial literacy and fitness, which should also create lasting benefits for generations to come."
"A successful partnership is about much more than just money," said BGCA President and CEO Roxanne Spillett. "It's a combination of human capital, strategic focus and genuine passion to help young people that make our relationship with Charles Schwab Foundation so important."