Educational Institutions

Virginia Council on Economic Education

  • Richmond, VA
  • www.vcee.org

Mission Statement

The mission of the Virginia Council on Economic Education is to provide Virginia's students with the economic knowledge and financial skills needed to thrive in our dynamic economy.

Main Programs

  1. K-12 Professional Development for Teachers
  2. Virginia High School Economics and Personal Finance Initiative
  3. Stock Market Game
  4. Additional Student Programs
  5. Economic Educator Awards
Service Areas

Self-reported

Virginia

Statewide

ruling year

1970

Principal Officer since 2014

Self-reported

Mr. Daniel Mortensen

Keywords

Self-reported

VCEE, economic, education, financial, finance

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EIN

23-7087052

Also Known As

Virginia Council on Economic Education

Contact

Cause Area (NTEE Code)

Educational Services and Schools - Other (B90)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Programs + Results

How does this organization make a difference?

Overview

Self-reported by organization

Recent Accomplishments: Helped achieve a required economics/personal finance course for all high school students. The class of 2015 was the first to graduate with this requirement as part of their diploma.Assisted in developing the quality high school Economics and Personal Finance Standards of Learning (SOLs) and curriculum framework adopted by Virginia.Developed and launched a five-year Professional Development Plan (2010 - 2015) to provide teachers the knowledge and creative lessons and materials to teach students the new economics and personal finance SOLs. In 2014, provided 68 institutes around the state and online serving 1,600 teachers. Eight high school institutes are scheduled for 2015 to meet some of the remaining need, and we anticipate an approximate 120 additional teachers served by the end of the year.Continued to provide K-12 teachers with student focused programs such as the Stock Market Game™, Economics Challenge, Color the Economics Concepts, as well as recognizing outstanding economic educators through a statewide awards program. Goals:To help successfully implement the new Economics and Personal Finance high school course, and to provide professional development institutes to more than 2,500 high school teachers between 2010 and 2016, many of whom are new to teaching the new high school course. Ultimately 90,000 students will be impacted annually.Provide professional development for K-12 teachers including quality curriculum resources teachers can use to effectively teach economics and personal finance.Continue to offer flagship programs to Virginia's K-12 students—Stock Market Game™, Mini-Economy and Mini-Society®, Economics Challenge, and Color the Economic Concepts.Increase awareness of, and garner support for, economic and financial education in grades K-12 from Virginia's businesses, school divisions and other public and private entities.

Programs

Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Program 1

K-12 Professional Development for Teachers

Teacher education is the Council's primary means for reaching students, on the premise that by educating a teacher, one can reach hundreds or even thousands of students over the span of the teacher's career. It's undisputed in the research that having an effective teacher is a significant factor in student learning and achievement. VCEE and its affiliated university-based centers for economic education seek to be a strong partner for Virginia's K-12 teachers by providing resources and professional development opportunities, at little to no charge, around Virginia's economics related SOLs. VCEE and affiliated centers build and nurture ongoing relationships with school divisions and their teachers to promote and enhance economics education. In 2010, more than 2,500 teachers (totaling more than 18,000 contact hours) participated in programs to gain the background and receive materials to effectively deliver the essentials of economics and personal finance that today's students need.

Category

Education, General/Other

Population(s) Served

Children and Youth (infants - 19 years.)

Adults

Budget

$686,992.00

Program 2

Virginia High School Economics and Personal Finance Initiative

Beginning with students entering the ninth grade in 2011, they must pass an economics and personal finance course in order to graduate. VCEE is working in a number of ways to help ensure the successful implementation of this course. It served as a resource for Virginia's Board of Education in its adoption of Economic and Personal Finance Standards of Learning (SOLs) and curriculum framework. The SOLs are a model for other states in terms of the concepts, knowledge and skills that students are supposed to learn. Because many teachers will be new to teaching this course, VCEE has developed and launched a five-year Professional Development Plan (2010 - 2015) to provide an estimated 2,000 teachers the knowledge, creative lessons, and materials to teach these new SOLs. Implemented with support from the public and private sectors, teachers are provided a 42-hour economics institute and a 40-hour personal finance institute available at no charge unless taken for college credit.

Category

Population(s) Served

Budget

Program 3

Stock Market Game

The Stock Market Game™ is a competition for grades 4-12, allowing student teams to invest and manage a virtual $100,000 portfolio. Students research stocks, study how capital markets work, and learn about saving and investing. This online program is valuable teaching tool in math, social studies, business, economics, and language skills while also focusing on the importance of long-term saving and investment. The program includes 10-week competitions each semester and a year-long option that allow student teams to compare the performance of their portfolios with other teams in Virginia and their region. Several studies have shown the value of this program for student learning. For example, an independent study released in August 2009 by Learning Point Associates found that participation in the Stock Market Game™ substantially improved student math scores on standardized tests and improved student investor knowledge. The study also showed increased financial literacy for teachers.

Category

Population(s) Served

Budget

Program 4

Additional Student Programs

The greatest challenge for any teacher is motivating students to learn. VCEE and its network of centers offer student programs that help teachers achieve this goal. Mini-Economy and Mini-Society® programs offer elementary and middle school students the chance to act out real-life experiences in entrepreneurship. Conducted as a unit of study, this high energy simulation focuses on economic and financial literacy, classroom management, and ""real-world"" market situations. Economics Challenge is open to any middle or high school student enrolled in a course that includes some economics and gives students an opportunity to demonstrate their understanding of economics concepts in an academic competition. Color the Economic Concepts Contest, co-sponsored with the Federal Reserve Bank of Richmond, gives students a chance to illustrate their knowledge of economic concepts in a creative and fun way by designing a poster of any of the economics concepts included in the VA Standards of Learning.

Category

Population(s) Served

Budget

Program 5

Economic Educator Awards

Each year, VCEE encourages teachers to submit original and creative lesson plans that promote student understanding of economic principles and help make economic and financial decision-making skills come alive in the classroom. The top two lesson plans deemed outstanding in their ability to infuse economic and financial literacy concepts into the classroom curriculum are selected for the elementary level and the secondary level. Similar selections are made for units. Cash awards of $300 to $1,000 are provided. An Outstanding Economic Educator is also selected by each VCEE affiliated center to recognize the educator's sustained history of commitment and contribution to economic and financial education. Each receives $100 and from these, Virginia's Outstanding Economic Educator of the Year is selected and awarded $1,000. All economic educators are recognized at a luncheon held at the Federal Reserve Bank of Richmond.

Category

Population(s) Served

Budget

Service Areas

Self-reported

Virginia

Statewide

Additional Documents

Funding Needs

Maintain VCEE Institutes (face to face) but integrating more technology (a hybrid approach)Broaden emphasis to include Middle School and Elementary School Institutes, to include a voluntary certification program -- leading to the highest quality teachers in economic educationProvide resources to teachers and school divisions on economic educationOverview of annual program priorities

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

VIRGINIA COUNCIL ON ECONOMIC EDUCATION
Fiscal year: Jul 01-Jun 30

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  • Address, phone and website
  • Forms 990 for 2015, 2014 and 2014
  • Board Chair and Board Members
  • Access to the GuideStar Community
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Operations

The people, governance practices, and partners that make the organization tick.

Virginia Council on Economic Education

Leadership

NEED MORE INFO ON THIS NONPROFIT?

Free: Gain immediate access to the following:
  • Address, phone and website
  • Forms 990 for 2015, 2014 and 2014
  • Board Chair and Board Members
  • Access to the GuideStar Community
Need the ability to download nonprofit data and more advanced search options? Consider a Premium or Pro Search subscription.

Principal Officer

Mr. Daniel Mortensen

BIO

Daniel Mortensen has been VCEE's executive director since Spring 2014. Before taking on the position as Executive Director, Mortensen served on the Board of Directors for VCEE.

Governance

BOARD CHAIR

Mr. A. Eric Kauders

U.S.Trust

Term: Dec 2014 - Dec 2016

BOARD LEADERSHIP PRACTICES

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RESPONSE NOT PROVIDED

BOARD ORIENTATION & EDUCATION

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?


RESPONSE NOT PROVIDED

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?


RESPONSE NOT PROVIDED

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?


RESPONSE NOT PROVIDED

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?


RESPONSE NOT PROVIDED

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?