Moneythink is an American educational

non-profit organization A nonprofit organization (NPO) or non-profit organisation, also known as a non-business entity, not-for-profit organization, or nonprofit institution, is a legal entity organized and operated for a collective, public or social benefit, in co ...

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." Moneythink's curriculum involves the use of a

mobile app A mobile application or app is a computer program or software application designed to run on a mobile device such as a phone, tablet, or watch. Mobile applications often stand in contrast to desktop applications which are designed to run on d ...

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. 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 shadow Job shadowing (or work shadowing) is a type of on-the-job learning. It may be a part of an onboarding process, or part of a career or leadership development program. Job shadowing involves following and observing another employee who might have a ...

s, and visits to professional workplaces.

History

Moneythink began as a student organization at the

University of Chicago The University of Chicago (UChicago, Chicago, U of C, or UChi) is a private research university in Chicago, Illinois. Its main campus is located in Chicago's Hyde Park neighborhood. The University of Chicago is consistently ranked among the b ...

in 2009. Initially named the American Investment Fellows, the club was founded by students Ted Gonder,

Greg Nance Greg Nance (born September 29, 1988) is an American entrepreneur, mountaineer, and ultramarathon runner. Nance is the co-founder and Board Chairman of Moneythink, the founder and CEO of Dyad Mentorship, an Advisory Board Member at the Chicago Pr ...

, Shashin Chokshi, Morgan Hartley, and David Chen. The group's aim was to help the

South Chicago South Chicago, formerly known as Ainsworth, is one of the 77 community areas of Chicago, Illinois. This chevron-shaped community is one of Chicago's 16 lakefront neighborhoods near the southern rim of Lake Michigan 10 miles south of downtown. ...

community in the wake of the economic collapse by recruiting, training, and placing undergraduate economics majors in local inner-city 11th and 12th-grade classrooms to teach financial literacy workshops. In the fall of 2009, student-leaders at

Washington University in St. Louis Washington University in St. Louis (WashU or WUSTL) is a private research university with its main campus in St. Louis County, and Clayton, Missouri. Founded in 1853, the university is named after George Washington. Washington University is r ...

USC USC most often refers to: * University of South Carolina, a public research university ** University of South Carolina System, the main university and its satellite campuses **South Carolina Gamecocks, the school athletic program * University of ...

, 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 The Ewing Marion Kauffman Foundation (Kauffman Foundation) is a registered 501(c)(3) nonprofit, private foundation based in Kansas City, Missouri. It was founded in 1966 by Ewing Marion Kauffman, who had previously founded the drug company Mar ...

, where Ted Gonder professionalized the organization, and eventually gained official 501(c)( 3) non-profit status. 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 The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second ...

billboard in

Times Square Times Square is a major commercial intersection, tourist destination, entertainment hub, and neighborhood in Midtown Manhattan, New York City. It is formed by the junction of Broadway, Seventh Avenue, and 42nd Street. Together with adjacent ...

. In 2013, Moneythink collaborated with

IDEO IDEO () is a design and consulting firm with offices in the U.S., England, Germany, Japan, and China. It was founded in Palo Alto, California, in 1991. The company's 700 staff uses a design thinking approach to design products, services, environ ...

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.

Reach

Moneythink programs currently operate at 31 universities across the United States. The organization consists of over 600 student mentors and claims to have reached over 6,000 students.

Recognition

* 2013 winner of the State Farm Neighborhood Assist grant. * 2013 MassChallenge winner. * 2012 winner of Chicago Innovation Awards Up-and-Comer Award. * 2012 finalist in the

Booth School of Business The University of Chicago Booth School of Business (Chicago Booth or Booth) is the graduate business school of the University of Chicago. Founded in 1898, Chicago Booth is the second-oldest business school in the U.S. and is associated with 10 N ...

Social New Venture Challenge. * 2012 winner of the White House's Champions of Change Campus Challenge. * Rang the

stock market closing bell on February 25, 2012.

References

{{DEFAULTSORT:Moneythink Non-profit organizations based in Chicago Non-profit organizations based in California Higher education Financial technology