Program areas at Young Americans Center for Financial Education
The bank provides youth financial Education through hands-on experience in Young Americans bank - the Foundation provides oversight for and is actively involved in the activities of its youth-only bank subsidiary, which reaches youth under the age of 22 with financial Education through hands-on bank products and related classes, and activities. The bank reached over 18,406 participants in 2022. The Foundation's expenses under this activity totaled 2,301,414 including a direct grant of 1,725,000.
Young Americans center for financial Education and its related youth financial Education programs - the Foundation provides oversight and coordination for its program affiliate, Young Americans center for financial Education. This program-delivery affiliate reached over 37,950 youth in 2022. The Foundation also provides oversight for the youth advisory board which provides a curriculum advisory role, youth feedback and expertise to assist the organization in delivering financial educational programs for youth. The Foundation's expenses under this activity totaled 970,447 including a direct grant of 262,322.
Young Americans Education Foundation leases space to its affliliates, Young Americans center for financial Education, a public charity, and Young Americans bank, the Foundation's program related investment, to help them carry out their missions. The rent is well below the fair rental value of the property. In the current year, rental income was received from Young Americans bank only, and the space was provided rent free to Young Americans center for financial Education.