Moneytalk Financial Foundations, Inc
P.O. Box 860184
Shawnee KS 66226
Web and Phone Contact
Telephone (913) 538-1465
Mission Statement
Our mission is working to break the cycle of poverty through Christian based financial life skills with continuing support for youth, low-income, and offender individuals, including their families.
Leadership
CEO/Executive Director Ms. Teresa McGarry
Board Chair Ms. Teresa McGarry
Board Chair Company Affiliation Moneytalk Financial Foundations
History and Background
Year of Incorporation 2013
Financial Summary
Revenue Expense Area Graph

Comparing revenue to expenses shows how the organizations finances fluctuate over time.

Source: IRS Form 990

 Breakdown
Net Gain/Loss:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.
Statements
Mission Statement
Our mission is working to break the cycle of poverty through Christian based financial life skills with continuing support for youth, low-income, and offender individuals, including their families.
Background Statement
Moneytalk Financial Foundations began as a part of a financial coaching business. Teresa McGarry (founder & executive director) attended the Dave Ramsey financial counselor training in June 2009. While leading Financial Peace University, one attendee requested I participate in his prison ministry.
 
We met with the re-entry coordinators at Lansing Correctional Facility. They stated that FPU and the FDIC’s MoneySmart programs were too advanced. Most of their inmates have not finished high school, never held a job, never had a bank account, and struggle to read and write. Their inmates need something simpler. They stated they had been searching for 3-5 years and cannot find anyone teaching the basics. This was Feb 2012. Moneytalk received our Articles of Incorporation in Aug 2013 and our Letter of Determination 501(c)(3) status in June 2014.
 
We have worked in correctional facilities; as an add-on to the services other non-profits are providing; and in area schools.
 
In 2013-2014, we offered classes exclusively at correctional facilities. The classes were taught at Johnson County Corrections Juvenile Detention Center, Johnson County Corrections Residential Center, Topeka Correctional Facility, and Fort Leavenworth Joint Regional Correctional Facility (JRCF).
 
In 2015, we began transitioning from exclusively correctional facilities to providing classes in the community where students can use their new financial life skills immediately. Therefore, much of this year was spent building new relationships and recreating a reputation. We taught one set of classes at Fort Leavenworth JRCF, multiple classes at Johnson County Correctional Residential Center, and our first community class at Avenue of Life.
 
In the first 9 months of 2016, we have taught classes at KidsTLC, the JAG-K* program within Turner Middle School and Turner High School, The Single Mom KC, and monthly classes at Johnson County Correctional Facility Residential Center. We have worked with 1 individual in case management. There are classes scheduled within the JAG-K* program at J C Harmon High School and F L Schlagle High School. Plans for 4th quarter include an after-care program with Hillcrest Transitional Housing, as needed work with families and clients of Pathway to Hope, working with 2 food pantries to offer financial literacy classes and case management, and monthly community classes.
 
*The JAG-K program works with those students most at-risk of not completing high school.
Impact Statement
2017 Accomplishments to date:
  • Created workshop for parents.  These will be offered first as a Lunch & Learn at area businesses.  We will be teaching employees (parents) how to teach their children the financial life-skills.
  • Created brochures for general information; donors and volunteers; banks and financial institutions; and churches
  • Worked with more than 6 case management clients.  The majority of clients were referred to us by nonprofits and churches.
  • Workshops were held with many nonprofits such as Mosaic Life Care, Hillcrest Transitional Housing youth program, and Global Ties KC.
 
2018 Goals:
  • Redesign website to include secure area where clients can create their budgets and receive feedback from MTFF; make the website mobile friendly; and provide resources for client use.
  • Create case management services for Small Business Development Center clients needing to strengthen their personal finances.  According to Johnson County Community College, a large number of clients wanting to start a business need assistance with their personal financial situation.
  • Provide at least 12 community workshops and work with at least 25 case management clients
  • Conduct at least 4 company lunch and learn workshops teaching parents to teach their children how to budget.
  • Create an advisory board to support both the board of directors and organization.
Needs Statement
  1. Sponsorship for fundraisers such as TopGolf; workshops at schools and nonprofits; real company names in the activities; give away items; team shirts; raffle and auction items; snacks and drinks during workshops; & items and food to sell during fundraising booths
  2. Vehicle donations need funding to complete safety related repairs.  These repaired vehicles will be donated to single moms, widows, and others in need.
  3. Gift Cards are needed to help encourage and reward progress for clients.  These gift cards will mostly be for food, clothing, and gasoline for their vehicle.
  4. Advisory board members are needed to provide guidance and recommendations in their area of expertise.
  5. Experts in our program topics are needed to review materials to ensure they remain current.  Individuals would need to look for updates such as help identify changes needed due to new regulations and new products or terminology needing added
Service Categories
Financial Institutions/ Services (Non-Government Related)
Areas of Service
KS - Wyandotte County Urban Core
KS - Wyandotte County
KS - Johnson County
KS - Lawrence
KS - Leavenworth County
CEO/Executive Director/Board Chair Statement
There are many wonderful nonprofits helping individuals get through today and over a short-term hurdle. When delivering food donations to someone in their car, it is very frustrating to see fast food trash, the newest smart phones, and other non-essentials (wants). We believe one key to breaking the cycle of poverty is teaching people how to manage their money. If they will pay for their necessities (needs) first, they should not need daily assistance. To quote Hillcrest Transitional Housing, we want to give them a hand up, not a hand out.
 
Our first challenge was developing the curriculum. Each topic is designed around a combination of Christian biblical teachings, basic financial life-skills, and instilling hope, encouragement, and empowerment. The first workbook was fill-in-the-blank format. There were many challenges with this format including the ability to display the power point, the amount of class time, the student’s current knowledge level, etc. The first workbook was separated into 3 workbook topics, fill-in-the-blanks were removed, but the classroom exercises and individual exercises remained. After each time a topic was taught, minor modifications were made based on flow, student questions, and personal experiences student’s shared in class. Each topic has also been reviewed by a licensed professional in the related field for accuracy and completeness. While the workbooks are now stabilized, presentation changes are being made to better connect with high school and middle school students as well as adults.
 
Our current Board of Directors challenge is moving from a “start-up” to an “active” board. This change is being addressed through an online training course on Carver Method of board governance and implementing the information that was learned. We have begun setting governance policies, holding committee meetings to get policies drafted, determining the roles and responsibilities of directors, developing an on-boarding process for new directors, and changing the culture to be more collaborative.
 
Our current organizational challenge is moving the nonprofit from essentially a one-person organization working in a home-based format to an organization with permanent office space, volunteers for both behind the scenes and teaching classes, and other major additions that will move the nonprofit toward God’s vision. I have one volunteer with an HR Manager background who is helping develop HR policies and procedures.
Programs
Description
The Financial Stewardship program focuses on teaching people how to be wise with their money. All of the classes include basic terminology, basic functionality, and strategies for success. In addition to the technical aspects of financial life skills, classes are taught in a positive environment with hope, empowerment, and encouragement. Christian bible verses are included were applicable.
 
Financial independence is supported through:
  • Interactive group workshops
  • One on one or couple case management
  • Vehicle donations, with safety repairs, gifted to clients without reliable transportation
  • Incentives and rewards for progress through gift cards and other as needed 
Category Public, Society Benefit, General/Other Banking & Financial Services
Population Served Poor,Economically Disadvantaged,Indigent, ,
Program is linked to organization's mssion Yes
Program Frequently Assessed Yes
Short-Term Success
Short-term success for our indirect clients is for them to have learned something from the class. We also strive for them to feel hope, encouragement, and empowerment to take on their own financial management.  We want them to find one change they can make in their money management.
For the youth, we ask questions during the class to assess their current level of knowledge and exposure to the financial tool or skill. At the end of the class, we ask them what they learned. When possible, the students apply their skills in an activity (bank accounts end with an Exchange City / Reality U type activity) or are quizzed through a game (such as Jeopardy).
 
For the adults, we take a short survey asking what they learned and what they plan to do differently as a result of this class.
 
For all students, we want them to understand the basics of the financial tool or skill such as: purpose of the tool or skill, terminology, common products, and how the tool or skill can be helpful.
Long-Term Success
Long-term success for our short-term clients cannot be easily measured.  When working with clients through another non-profit, we do not have access to their names or contact information for any type of follow-up.
 
For our clients, there are many changes in their behavior and financial situation where we should see signs of success:
  • Creating a budget on a monthly basis
  • Have goals established (reason to care)
  • Having a checking and savings account at a bank or credit union
  • Increased amount in their savings account
  • Decreased balance on their debts
  • Mortgage or rent is paid in full each month and on time
  • Utilities are paid in full each month and on time
  • Minimum payments are paid on their debts each month and on time
  • Increased credit score
  • Ability to distinguish between their needs and their wants
  • Ability to prioritize their expenses to ensure charitable giving, basic needs, and legal obligations can be met
  • Planting the seeds and/or nurturing the seeds of Christian faith
Program Success Monitored By
Because we are primarily working with other organization’s clients and do not have contact information, long-term follow-up with them is not feasible.
 
We do ask questions during class about their current experience with the financial life-skill. At the end of the class or unit, we ask them what they learned and if they enjoyed the class. When working with adults, we have them complete a survey about the class including listing one thing they will do differently as a result of this class.
 
When working with clients on an ongoing basis, we will be asking them about their budgeting, checking account, savings accounts, and debt. Our questions will include their successes, challenges, increase in savings account value, decrease on debts balance, and remaining current on housing and utilities commitments. We will also be helping them with options for resolving challenges in the future and inquiring about their success.
Examples of Program Success
  • At Fort Leavenworth JRCF, inmates stated we made the topics understandable, without making them feel stupid. Each week one inmate taught other inmates what we learned in class using the workbook provided.
  • At Topeka Correctional, the women said they plan to take control of their finances from their parents.
  • At KidsTLC, the youth really enjoyed the summer program. They were heard talking about what they learned in class throughout the week. At the fall classes, one boy saw me enter the room and shouted “Your back! You have been gone a long time” while rushing over to give a side hug.
  • The Single Mom KC women started out very apprehensive about learning how to budget. By the end of class, they were asking for workshops every quarter!
  • One girl at Turner Middle School shared how she saw someone struggling to write a check and was able to teach them how. She was very excited about being able to apply what she learned in the real world.
CEO Comments

Financial Stewardship is only a portion of the long range plan for this nonprofit. There are additional services being provided as the need arises. These services are included in the long range plan, but are not yet developed as their own program. 

  1. Job Interviews – this will be part of the Work Readiness program. Students are learning about job interviews (what to wear, how to behave, types of questions, and so on). They are also participating in a mock interview. Currently, this course is only being offered in the school JAG-K programs and KidsTLC.
  2. Case Management – this will be part of a Case Management program. Individuals or couples work one-on-one with a financial coach to help them walk through their specific situation. While the classes are helpful, individuals find that they need additional help applying the information to their situation. To date, we have had a church require one individual to work with Moneytalk as part of receiving financial assistance. We also have two food pantries wanting to reduce the duration individuals and families need their services by requiring they learn financial life-skills as part of receiving hand-outs.
Executive Director/CEO
Executive Director Ms. Teresa McGarry
Term Start Feb 2012
Compensation N/A
Experience
  • Teresa holds a Master’s Degree in Project Management.
  • Teresa has served as financial secretary, taught Sunday School, and served as deacon. She has led youth group, choir, Vacation Bible School, and the Christmas plays.
  • Teresa led 2 Girl Scout troops and ran all fundraising activities for 5 years. She was the service unit cookie sale manager for 55 troops for 3 years.
  • Teresa worked at DST Systems from 1993 - 2009. She began as a mainframe computer programmer implementing Federal and State tax reporting regulations and quickly moved to a project leadership role. She then moved departments where she implemented the regulatory redesign of 529 College Savings Plans. She successfully worked with all internal groups and external clients. When Teresa left DST, she was serving as the Subject Matter Expert for 529 College Savings Plans.
  • Teresa completed Dave Ramsey’s Financial Counselor training in 2009. It was in 2012, while working as a financial coach, this nonprofit began.
  • Teresa has completed Volunteer Management Institute through Nonprofit Connect
Co-CEO/Executive Director
Term Start 0
Compensation Last Year
Staff
Paid Full-Time Staff 0
Paid Part-Time Staff 0
Volunteers 4
Paid Contractors 0
Plans & Policies
Organization Has a Fundraising Plan Under Development
Organization Has a Strategic Plan Under Development
Management Succession Plan No
Organization Policy and Procedures Under Development
Nondiscrimination Policy Yes
Whistleblower Policy No
Collaborations

Moneytalk works hard to collaborate and partner with other non-profit organizations and for-profit businesses.

Organizations receiving classes or case management: 

  • JAG-K programs in area schools
  • KidsTLC
  • The Single Mom KC
  • Pathway to Hope
  • Churches
  • Johnson County Corrections Adult Residential Center
  • Mosaic Life Care
  • Johnson County Community College Small Business Development Center
  • Hillcrest Transitional Housing - youth program

Some of the organizations supporting Moneytalk include: 

  • All Copy Printing – donating printing of workbooks and flyers
  • Bank of Blue Valley – donating sample checkbooks for bank account class and activity
  • Century Link – supporter of shoe drive fundraiser, suggested workshops for "parents teaching their children how to" financial life skills
  • K A Mimms Photographix – photographs and video
  • Sound Stewardship – conducted KidsTLC summer program together
  • U-Haul – donated cardboard boxes which were decorated and used as collection boxes for shoe drive donations
  • Universal Document Products – donating printing of workbooks and flyers
CEO Comments

I would like to answer two of our most common questions:

1. Why did the non-profit get started? 

  • I founded this organization to help people learn the financial life-skills needed to become financially independent. While we do not teach Christianity, this is a Christian based organization teaching biblically based financial principles. To borrow from Hillcrest Transitional Housing, we want to provide a hand up, not a hand out.
  • There are many wonderful non-profit organizations in existence helping individuals and families with their daily needs. We do strive to work with many of these non-profits to provide financial life-skill education as an add-on to the services they provide. Through working together, we hope to help break the cycle of poverty for those who are trying to live financially responsible lives.

2. Why did we switch our focus from prison ministry to community ministry? 

  • In the correctional facilities, inmates were really soaking up the knowledge. They felt inspired to take control of their own finances … when they were back in community. One gentleman at Fort Leavenworth JRCF told me that “the classes were very helpful” and he “planned to reread all the workbooks when he got out”.
  • The correctional facilities originally were focusing on individuals with 2 years or less remaining on their sentence. But, then they decided to start including individuals with 15-20 years remaining so they could (a) learn the benefits of saving money; (b) learn to budget what little money they had available; and (c) have some money upon their release to help them be successful with their reintegration.
  • As an organization, we determined that we wanted to focus more on the individuals who could implement the financial life-skills and make an immediate impact on their life. Therefore, we transitioned our focus to those in need living in our communities.
Board Chair
Board Chair Ms. Teresa McGarry
Company Affiliation Moneytalk Financial Foundations
Term Feb 2012 to Dec 2018
Email teresa@moneytalkff.org
Board Members
NameAffiliation
Mr Steve Coons
Ms Tammie Green Christian Brothers Automotive
Ms. Karen Haynes Greenfield & Davidson
Pastor Bob Jarred Country Financial
Ms. Teresa McGarry Moneytalk Financial Foundations
Board Demographics - Ethnicity
African American/Black 0
Asian American/Pacific Islander 0
Caucasian 5
Hispanic/Latino 0
Native American/American Indian 0
Other 0
Board Demographics - Gender
Male 2
Female 3
Unspecified 0
Governance
Board Term Lengths 2
Board Term Limits 2
Written Board Selection Criteria? Under Development
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 100%
Number of Full Board Meetings Annually 6
Financials
Fiscal Year Start Jan 01, 2017
Fiscal Year End Dec 31, 2017
Projected Revenue $15,000
Projected Expenses $15,000
Form 990s
IRS Letter of Exemption
Foundation Comments
  • FY 2016, 2015, 2014: Financial data reported using the IRS Form 990-EZ.
  • Foundation/corporate revenue line item may include contributions from individuals.
Detailed Financials
 
Expense Allocation
Fiscal Year201620152014
Program Expense$1,211$1,123$8,985
Administration Expense$15,066$153,207$1,244
Fundraising Expense$0$0$0
Payments to Affiliates$0$0$0
Total Revenue/Total Expenses1.261.001.01
Program Expense/Total Expenses7%1%88%
Fundraising Expense/Contributed Revenue0%0%0%
Assets and Liabilities
Fiscal Year201620152014
Total Assets$3,971$560$165
Current Assets$3,971$560$165
Long-Term Liabilities$0$0$0
Current Liabilities$0$0$0
Total Net Assets$3,971$560$165
Short-Term Solvency
Fiscal Year201620152014
Current Ratio: Current Assets/Current Liabilities------
Long-Term Solvency
Fiscal Year201620152014
Long-Term Liabilities/Total Assets0%0%0%
Top Funding Sources
Fiscal Year201620152014
Top Funding Source & Dollar AmountIndividual Donor $7,252 -- --
Second Highest Funding Source & Dollar AmountDST Matching Gifts $6,000 -- --
Third Highest Funding Source & Dollar AmountWal-Mart $1,000 -- --
Capital Campaign
Currently in a Capital Campaign? No
Organization Comments

In 2015, we participated in an event that was supposed to draw about 2,000 attendees. As a result, we solicited donations, coupons, other goodies, and drawing prizes from several businesses. This caused our in-kind donations to be extremely high compared to other years.

  • 2014 In-Kind donations totaled $5,442
  • 2015 In-Kind donations totaled $142,871 
2016 Form 990 has been amended.  Incorrect Form 990 has been removed, amended Form 990 has been added.
Organization Name Moneytalk Financial Foundations, Inc
Address P.O. Box 860184
Shawnee, KS 66226
Primary Phone (913) 538-1465
Contact Email contact@moneytalkff.org
CEO/Executive Director Ms. Teresa McGarry
Board Chair Ms. Teresa McGarry
Board Chair Company Affiliation Moneytalk Financial Foundations
Year of Incorporation 2013