WorldofMoney.org
Developing Financially Responsible Adults. One Child At A Time.
Programs and results
What we aim to solve
A quarter of all U.S. households do not have a basic checking or savings account or rely on alternative, often toxic, financial services for banking needs. The result is billions of dollars lost on the high fees and interest rates associated with alternative products. In fact, the average underserved household spends roughly $2,400 annually on alternative financial services, representing an average of almost 10% of their income. These costly fees are especially detrimental to these families who are already struggling to cover basic needs. Even when these individuals do gain access to financial services, they do not usually have the background or information to be effective stewards. A recent survey revealed that 90% of high school students rely on parents for financial advice, but 70% say parents have not taught them how to spend wisely. Traditional “financial literacy" classes don't have a measurable long-term impact unless they are accompanied with real world and business classes.
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Youth Financial Education Training Institute
It is the mission of the WorldofMoney.org, to give young people, ages 7 -18, empowering tools to survive economic roller-coasters by using their innate intelligence and creativity to expand their access to the free enterprise system beyond that of consumerism, but to disciplined saving, and the understanding of investing in capital markets.
Youth Business Pitch Competition
World of Money's annual youth business pitch competition teaches our students the value of public speaking, strategic planning, self-confidence and entrepreneurship.
Where we work
Affiliations & memberships
Motley Fool Overall Best Financial Literacy App 2021
External reviews
Photos
Videos
Our results
How does this organization measure their results? It's a hard question but an important one.
Number of students showing improvement in test scores
This metric is no longer tracked.Totals By Year
Population(s) Served
Children and youth
Related Program
Youth Financial Education Training Institute
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Context Notes
In addition to daily attendance, homework and family discussions, our students must successfully pass a final exam.
Number of teachers retained after 12 months
This metric is no longer tracked.Totals By Year
Population(s) Served
Children and youth
Related Program
Youth Financial Education Training Institute
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Context Notes
The average duration of service of our teachers is 10 years.
Number of returning students.
This metric is no longer tracked.Totals By Year
Population(s) Served
Children and youth
Related Program
Youth Financial Education Training Institute
Type of Metric
Outcome - describing the effects on people or issues
Direction of Success
Increasing
Context Notes
Our students benefit from financial education by attending each year so that as they mature they are able to comprehend and apply the course work.
Number of free participants on field trips
This metric is no longer tracked.Totals By Year
Population(s) Served
Children and youth
Related Program
Youth Financial Education Training Institute
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Number of paid participants on field trips
This metric is no longer tracked.Totals By Year
Population(s) Served
Multiracial people, People of African descent, People of Latin American descent
Related Program
Youth Financial Education Training Institute
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Context Notes
During the COVID-19 pandemic, all field trips were cancelled.
Goals & Strategy
Learn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
I. Attract additional resources to impact additional students and their parents.
2. Attract additional board members who recognize the urgency of financial education.
What are the organization's key strategies for making this happen?
Recruit board members through board development organizations.
What are the organization's capabilities for doing this?
World of Money's approach is considered a leading provider in our approach and impact in immersive youth financial education. World of Money financial and business teachers have taught youth in Senegal, Rwanda and Ghana. World of Money's solid fundraising history and strong track record ensure confidence in the sustainability of our organization and vision. Despite the fact that 55% of our students come from low-income households, our students' high school graduation and college matriculation rates exceed the New York City public school averages by 20% and 33% respectively. As the World of Money Institute is based in New York City, 20% of our students reside in other states and countries such as Florida, Texas, Virginia, New Jersey, India, Saudi Arabia, England, California and Pennsylvania. According to the Center for Technology Innovation at the Brookings Institute mobile learning will provide facilitate financial education wherever a student resides. The World of Money mobile app will allow students to interactive with a digital resource, preparing them to adapt to ever evolving financial products and technologies. Our mobile app provides real-time assessment of students' performance and daily notifications of financial principles. Mobile learning can transcend classroom and geographical boundaries and help eradicate global financial education disparities. The World of Money self-guided mobile application allows students to proceed at their own pace and can reach millions of at-risk rural and urban youth, even if they are not enrolled in school. According to the MIT Start Up Lab, 50% of Africans use mobile technology, indicating that mobile technology is the largest modern platform with one billion users emerging from rural areas. The World of Money mobile application is a catalyst for delivering impactful financial education and critical-thinking. These are life skills that underserved youth need in order to secure their place in the globally competitive and financially demanding economy.
What have they accomplished so far and what's next?
ORGANIZATIONAL IMPACT
95%: Punctual Attendance
100%: Homework Completion
99%: Final Exam Pass Rate
99%: Institute Graduation Rate
85%: College Enrollment
100%: Savings Accounts opened
80%: improvement in school grades
58%: community service
65%: youth created businesses
How we listen
Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.
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How is your organization using feedback from the people you serve?
To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects
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Which of the following feedback practices does your organization routinely carry out?
We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people
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What challenges does the organization face when collecting feedback?
We don't have any major challenges to collecting feedback
Financials
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Operations
The people, governance practices, and partners that make the organization tick.
Connect with nonprofit leaders
SubscribeBuild relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.
- Analyze a variety of pre-calculated financial metrics
- Access beautifully interactive analysis and comparison tools
- Compare nonprofit financials to similar organizations
Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.
Connect with nonprofit leaders
SubscribeBuild relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.
- Analyze a variety of pre-calculated financial metrics
- Access beautifully interactive analysis and comparison tools
- Compare nonprofit financials to similar organizations
Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.
WorldofMoney.org
Board of directorsas of 02/14/2023
Ms. Niles Stewart
Carver Bank
Term: 2019 -
Sabrina Lamb
WorldofMoney.org
Delores Rochester
Mercedes Garcia
MasterCard
Deborah Price
Bank of China
Keith Wheelous
Essex Lake Group
Board leadership practices
GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.
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Board orientation and 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? Yes -
CEO oversight
Has the board conducted a formal, written assessment of the chief executive within the past year ? Yes -
Ethics and transparency
Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes -
Board composition
Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes -
Board performance
Has the board conducted a formal, written self-assessment of its performance within the past three years? Yes
Organizational demographics
Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.
Leadership
The organization's leader identifies as:
Race & ethnicity
Gender identity
Transgender Identity
Sexual orientation
No data
Disability
No data
Equity strategies
Last updated: 02/14/2023GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more
- We review compensation data across the organization (and by staff levels) to identify disparities by race.
- We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
- We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
- We use a vetting process to identify vendors and partners that share our commitment to race equity.
- We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
- We have community representation at the board level, either on the board itself or through a community advisory board.
- We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
- We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.