Young Americans Center for Financial Education is a unique organization. Under our roof we operate both a non-profit 501(c)3 organization and a for-profit entity. While both share a common mission, the finances and operations of the two entities are completely separate.
Young Americans Center for Financial Education, a 501(c)3 non-profit - delivers all our programs such as Young AmeriTowne, International Towne, summer camps, and many others. The funding model for these programs is significantly different from most non-profit organizations. Young Americans tends to draw a large portion of support from businesses and corporations that strongly identify with our mission. With the exception of one major fundraising event each year, our fundraising efforts are not event-driven. In addition, we maintain stability by collecting fees for some of our programs; however fees cover only a small percentage (30%) of our overall programmatic costs. We maintain low fees so students from all socio-economic backgrounds have the opportunity to participate.
2007 Expenses: 16% for administrative and public relations
84% for programs
Young Americans Bank is a for-profit entity, however due to the Bank's educational nature, it does not make a profit. Since its inception, the Young Americans Bank has required annual subsidy to operate. At the Bank's inception, founder Bill Daniels pledged to fund it in perpetuity, therefore funding comes primarily from Bill's legacy foundation, the Daniels Fund.