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Breaking News
Published: April 14, 2004
Investing Pays Off Program Honored by Jump$tart Coalition
For its effort to improve youth financial literacy through the Investing Pays Off program, ML received the first-place Soaring$tar
Award from the Jump$tart Coalition for Personal Financial Literacy.
"On behalf of our ML volunteers who take time to share their talents and experiences with kids, we are honored to receive this
award," FVP Eddy Bayardelle, head of Global Philanthropy, said. "And we commend Jump$tart for its leadership as a coalition builder."
The award was presented to ML on April 1 in Washington, D.C., at a ceremony attended by government, nonprofit, education and
corporate leaders. The Jump$tart Coalition rallies partners in the corporate, nonprofit, government and education sectors to address
the rising need for youth financial literacy.
Jump$tart has helped introduce 24 state bills, resolutions and proclamations in the first quarter of 2004 to promote financial literacy.
The group has also helped set an industry standard for excellence in financial literacy programs through its Soaring$tar Award. This
year, JP Morgan Chase was awarded second place, and Citigroup third.
At the ceremony, William Donaldson, chairman of the U.S. Securities and Exchange Commission, congratulated ML on its
accomplishments with the Investing Pays Off initiative. Also at the ceremony were ML's partners in the award-winning initiative,
including Sesame Workshop; the BizWorld Foundation; the Securities Industry Foundation for Economic Education, an affiliate of the
Securities Industry Association; and NFTE, the National Foundation for Teaching Entrepreneurship.
"We selected the best partners for IPO," Bayardelle said, "and this award is testament to their innovative work, dedication to kids
and commitment to results."
ML's partnership with NFTE led to the development of the free Investing Pays Off curriculum, which covers 15 lessons — or "IPO
Strategies" — on personal finance, entrepreneurship, careers, managing credit and home ownership.
During the past year, Investing Pays Off strategies have been introduced into schools, community centers and libraries across the
United States and in 10 other countries, often by ML volunteers.
But much is left to be done, according to a recent Jump$tart survey of youth financial literacy. The survey, sponsored this year by
ML, showed that 65.5% of high school seniors do not have a basic understanding of personal finance.
During Volunteer Week, April 18-22, ML volunteers can use Global Philanthropy's online platform to sign up for volunteer opportunities
to use the Investing Pays Off program.
"Our goal is to encourage ML volunteers to work with kids, particularly from underserved communities, during Volunteer Week,"
Bayardelle said. "The involvement of a caring adult in a child's life can bring tremendous results, so we're counting on our colleagues
to help kids dream big, plan for the future and succeed in life."
More Breaking News
Announcement of IPO April 4, 2002
BizWorld describes Collaborate with a Cause December 3, 2002
ML survey shows financial literacy improving April 1, 2004
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