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."
About Money Matters: Make It Count
Funded by Charles Schwab Foundation, Boys & Girls Clubs of America's Money Matters program is designed to promote money management skills among teens, ages 13-18. The program consists of fun, interactive activities and exercises on topics such as using a checking account, managing debt, saving for college and learning the basics of investing. The program is targeted primarily at teens from underserved communities.
About Boys & Girls Clubs of America
For more than 100 years, Boys & Girls Clubs of America (www.bgca.org) has been changing and saving young lives, providing hope and opportunity for kids who need them most. Today, some 4,300 Clubs serve some 4.5 million young people through Club membership and community outreach. Known as The Positive Place for Kids, Boys & Girls Clubs can be found all across the country and on U.S. military bases throughout the world. Clubs provide young people 6-18 years old with guidance-oriented character development programs conducted by trained, professional staff. In communities large and small, Clubs positively impact lives and help young people reach their full potential as productive, caring citizens. Key Boys & Girls Club programs emphasize leadership development; education and career exploration; community service; financial literacy; health and life skills; the arts; sports, fitness and recreation; and family outreach. In a recent Harris Survey of Club alumni, 57 percent said the Club saved their life. National headquarters are located in Atlanta.
About Charles Schwab
The Charles Schwab Corporation (Nasdaq:SCHW) is a leading provider of financial services, with more than 300 offices and 7.5 million client brokerage accounts, 1.5 million corporate retirement plan participants, 544,000 banking accounts, and $1.2 trillion in client assets. Through its operating subsidiaries, the company provides a full range of securities brokerage, banking, money management and financial advisory services to individual investors and independent investment advisors. Its broker-dealer subsidiary, Charles Schwab & Co., Inc. (member SIPC, http://www.sipc.org), and affiliates offer a complete range of investment services and products including an extensive selection of mutual funds; financial planning and investment advice; retirement plan and equity compensation plan services; referrals to independent fee-based investment advisors; and custodial, operational and trading support for independent, fee-based investment advisors through its Advisor Services division. The Charles Schwab Bank (member FDIC) provides banking and mortgage services and products. More information is available at www.schwab.com.
About Charles Schwab Foundation
Charles Schwab Foundation is a private, nonprofit organization funded by the Charles Schwab Corporation. Its mission is to create positive change through financial education, philanthropy, and volunteerism. More information is available at www.aboutschwab.com/community.