Moneytalk Financial Foundations, Inc
P.O. Box 860184
Shawnee KS 66286
Web and Phone Contact
Telephone (913) 538-1465
Mission Statement

Vision

A world where everyone is financially stable.

We define financially stable as an individual’s ability to manage their own money such that they can pay for their own basic needs (housing, clothing, utilities, transportation, food, and personal hygiene); pay their minimum payments in full and one time for all debts; all bills are paid in full and on time; they have savings, emergency funds, and retirement funds in place; and they do not rely on other sources for financial assistance.

Mission

Our mission is to provide basic financial life-skill education with continuing support for the underserved in a faith-based Christian environment.

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
Volunteer Opportunities
Ways to donate, support, or volunteer
  • Donate cash, check or charge by mail or online
  • Sponsor TopGolf fundraiser through hosting a vendor booth, goodie bag items, venue space, food, beverage, donating raffle items, golf bays, a golf pro, individual golf competitions & tournament
  • Join advisory board
  • Volunteer for admin, bookkeeping, fundraising, web design, marketing, networking, new program development, social media, newsletter content, webinars
  • Sign up for newsletter
  • Like, comment, & share posts on Facebook
  • Contribute to expanded office space enabling additional volunteers & their background checks, insurance, equipment, supplies, webinars, & workshops
  • Sponsor workshop activities and have your business name on the products, workbooks, & services (current business names are fictitious)
  • Sponsor workshops at schools & in nonprofits
  • Provide snacks, drinks & materials for workshops & Closer Look informational workshops
  • Contribute to scholarships to support reduced rates for homeless & poverty clients
  • Furnish funds for gift cards for groceries, clothes, gasoline, & notebook computers for clients
  • Sponsor donated vehicle safety repairs for gifting to others in need (financial donation, donated parts, or donated labor)
  • Host Lunch & Learn for your employees to learn how to teach their children various financial life skills. Company pays entire cost
  • Sponsor workshops for your employees. Company pays majority of cost & employee pays small fee
  • Subsidize case management services for employees to work through their own personal finances. Company pays majority of cost & employee pays small fee
  • Donate services or products for use by nonprofit volunteers, as giveaways, raffle or auction items, activity supplies, t-shirts, items or food for event booths, host a give-back night, display flyers to help promote community workshops or offer one at your location
  • Help fund event booth rental, promotion, volunteer to help run the booth
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

Vision

A world where everyone is financially stable.

We define financially stable as an individual’s ability to manage their own money such that they can pay for their own basic needs (housing, clothing, utilities, transportation, food, and personal hygiene); pay their minimum payments in full and one time for all debts; all bills are paid in full and on time; they have savings, emergency funds, and retirement funds in place; and they do not rely on other sources for financial assistance.

Mission

Our mission is to provide basic financial life-skill education with continuing support for the underserved in a faith-based Christian environment.

Background Statement
In Feb 2012 while leading a Dave Ramsey Financial Peace University, one of the attendees asked me to participate in a prison ministry he wanted to start.  After meeting with the re-entry coordinators, I learned that the vast majority of inmates had not graduated high school, ever held a job, ever had a bank account, and struggled to read and write.  They stated that programs such as MoneySmart KC and Financial Peace University were too advanced to meet the needs of these inmates.  They also told me how they had searched for several years trying to find someone who had entry-level financial life-skill education programming and would come to the prison.  The idea of Moneytalk Financial Foundations, teaching basic financial life-skills, was born.
 
The program was redesigned multiple times to accommodate various teaching conditions, attendee financial knowledge, technology available, and attendance challenges.  What started out as one workbook teaching goals, budgeting, bank accounts, and how they tie together with fill-in-the-blank, exercises throughout, and review at the end, has turned into one workbook per topic with only exercises at the end.  This final design allowed for attendees to miss a session, no ability to display a presentation, varied classroom time, varied levels of education and experience, and flexibility when determining the topics to be presented.  All topic workbooks still include how the financial topic relates to other financial topics.  For example, when teaching students about credit reports, we also discuss how your credit score impacts your insurance rate, interest rate, renting an apartment, getting a job, and more.  We also discuss how in your budget we prioritize making all payments (such as rent, car payment, and credit card minimums) will impact your credit report and credit score.
 
In 2015, we began transitioning out of the correctional facilities and into the community.  There were multiple factors involved in this decision including the correctional facilities placing inmates in the class with 5 or more years remaining on their sentence in the workshops.  Their intention was to have inmates leave with enough money available to purchase a few basics.  Because inmates were not able to use the information taught, it was not beneficial for them at that point in time.  We want to focus on working with people who can immediately implement these skills.
 
As of 2018, we are fully working in the community. 
Impact Statement
2018 Accomplishments:
  • Website has been redesigned for an easier flow and embedded registration and donation forms.  The website now has a certificate allowing a secure website (https)
  • Taught financial life-skill workshops to over 775 students across Wyandotte and Johnson county Kansas and Jackson county Missouri.  These workshops represent over 100 hours of preparation and over 25 hours of workshop presentation.  We have over 300 additional students scheduled so far during November and December 2018.
  • Began using a corporate credit card, paid off monthly, to start building a credit history.  This credit card helps manage cash flow; billing errors by vendors; and create a credit score needed when we are able to rent permanent office space, obtain utilities, and services.
  • Developed a "Closer Look" workshop where individuals can learn more about Moneytalk, including how we got started; programs and workshop activities; major plans for 2018-2019; long range plan; and ways to support and get involved.
  • Nominated for Volunteer of the Year through Junior Achievement.
2019 Goals:
  1. Increase number of coaching clients helped.  Workshops are good for helping expose students and adults to the basics financial life-skill tools such as budgeting, bank accounts, insurance, etc.  The workshops do not include the accountability and support needed to promote life-long change that comes through coaching the clients.  We have been working with several organizations to be a coaching resource for their clients.  Included are Department of Children and Families (DCF), Hillcrest Transitional Housing, and Pathway to Hope's Reclamation Clubhouse.
  2. Establish an advisory board of experts in each financial topic, experts in support areas, and client representatives.  These individuals will help in many ways, including review of workbooks and program direction.
  3. Continue to develop income streams to assist with establishing financial stability.
Needs Statement
  1. Advisory board members are needed.  These individuals will help with the annual review of financial workbooks; periodically writing short informational articles for weekly newsletters; volunteering during school workshops; volunteering as subject matter expert during community workshops to answer more in-depth questions; and help build relationships with others in the communities.
  2. Funding to help with coaching process needs.  Majority of the clients fall into the poverty or low-to-moderate income level meaning they receive a 50% to 100% scholarship to cover their monthly cost of the coaching.  As of now, these funds are written off.  As the coaching process is approximately a year long, clients need incentives along the way and encouragement for meeting smaller goals.  Client incentives include matching savings account increase up to $500 per year; gift cards and incentives for special occasions of $25 per quarter; and financial assistance in crisis situations of no more than $600 per year.
  3. Funding to cover workshops in area schools.  These workshops help familiarize students with the basics of budgeting; successfully managing a bank account; other financial tools; and how they impact each other.  Average cost is $5 per student per hour to cover supplies, materials, mileage, etc.
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
MO - Jackson County
Geographic Area Served Narrative
Through JAG-K, we hosted workshops in KCK, Turner, and Lawrence. 
 
Through Junior Achievement, we hosted workshops in Independence and Wyandotte High School.
 
In 2018, we reached out to 17 school districts in Kansas regarding the financial workshops available.
 
Per DCF, there are over 10,000 families on TANF across Johnson, Wyandotte, Leavenworth, Douglas, and Atchison counties in Kansas.  As these families roll off these services, they will need our services and support.
CEO/Executive Director/Board Chair Statement
When we have been able to get people to attend a financial workshop, they have all expressed enjoying the workshop very much and how much they learned.  We recently hosted a bank account workshop for 15 people ranging from college to retired.  They all stated how they learned something; enjoyed the interactive, hands-on, fun style of learning; was looking forward to more workshops like this; and how the information was presented in a simple format without talking down to anyone.  They were all raving and exciting to have a second workshop.  In fact, this church wants to host these monthly for their congregation and surrounding community, but were not able to get anyone to sign up for this second workshop. 
 
I have had similar experiences in the community.  Almost everyone I talk with is very irritated with how little our youth know about managing their money when graduating high school as well as adults and how much this is needed.  However, I cannot get anyone to sign up for workshops regardless of day of week, time of day, or topic.  I would love to outsource some of the promotion efforts to help reach the correct people, have space rented early on, and attention getting promotions (video, ads, etc).  The challenge is trying to ensure we spend the funds we have wisely which means no renting space until I know I have attendees since we won't get a refund and doing promotional ads ourselves.  Unfortunately, this hasn't worked very well.
 
In an effort to have attendees take the information seriously, we want them to have some "skin in the game" so to speak.  This is why there is a charge for the workshop.  If we had funding to rent the space or a space of our own, purchase the materials and supplies, and promote the workshops better; we would be able to lower the client cost significantly which may help with attendance.  We also tried having a week long Summer Camp for high school, college, and young adults.  However, without outside funding, those interested expressed how the cost was too high for them to send their youth and young adults.
 
The workshops we have held in the schools have been very well received.  These workshops are very hands-on and usually involve candy, treats, and handouts.  We do not ask for any funding from the schools.  We also need funding to support these workshops.  In addition to reaching out to schools ourselves, we are connected to some schools through Junior Achievement and host some of the workshops activities through them.
Programs
Description
The Financial Stewardship program focuses on teaching people how to be wise with their money. All of the workshops include basic terminology, basic functionality, strategies for success, and how the topic impacts and is impacted by other financial skills. In addition to the technical aspects of financial life skills, workshops 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 coaching
  • Vehicle donations, with safety repairs, gifted to clients in need of reliable transportation
  • Incentives and rewards for progress through gift cards, savings account matching, scholarship of program cost, and minor financial assistance 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 workshop. 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.
 
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 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, how the tool or skill can be helpful, and understand how the tool or skill impacts other areas of their financial life.
Long-Term Success
Long-term success for those attending workshops only cannot be easily measured.  When working with clients through a school or another non-profit, we do not have access to their names or contact information for any type of follow-up.
 
For our coaching 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
We ask questions during the workshop about their current experience with the financial life-skill. At the end of the workshop or unit, we ask them what they learned, what they will do different in the future, and if they enjoyed the workshop.  Depending on the topic, we have a hands-on activity or quiz activity where students are able to practice what they learned.  These activities also allow us to witness the learning.
 
When working with coaching clients, we will be checking on their budgets, 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
  • 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.
  • Students have responded with how they have learned to pay their bills and other needs first, save up for future unexpected expenses, and not waste all their money on entertainment and eating out.
  • Our most recent coaching client has been able to reduce her debt by 50% in just 6 months.
CEO Comments

Additional financial topics and services can be found on the website under Inspire / Services / Requested.

The Closer Look - Handout attachment includes high level information about the long-range plan.  
  1. Financial Stewardship is the current program focusing on how a person spends, saves, and manages their money.  These are topics such as budgeting, goals, bank accounts, insurances, taxes, credit reports, and investing.  Consumer topics are being developed as well such as purchasing a vehicle, renting an apartment, and buying a home.  Skills are taught as workshops and through coaching.
  2. Work Readiness is a future program focused on the income side of money management.  This will include soft skills needed to work well with others and problem resolution; technical skills such as searching on the internet, sending email, writing documents, and simple spreadsheets; personal readiness such as having a social security number, birth certificate, state id, GED if they have not completed high school, resume, job interview skills, and appropriate clothing.  We will also have or take clients to job fairs and work with them and their employer to help ensure success.
  3. Ongoing Support is a future program focused on support opportunities.  We plan to have opportunities to learn other skills which will impact their finances (such as cooking), have a financial hot line for crisis situations, supplies to make gifts instead of purchasing stuff, and so on.
  4. After school assistance is a future program focused on providing an educational, homework assistance, safe place to hang out after school.  Many of these students, and some adults, will benefit greatly by being able to be surrounded by positive influences in a safe environment.  Included in the activities will be many of the soft skills needed to succeed in life, school, and the workplace.
Executive Director/CEO
Executive Director Ms. Teresa McGarry
Term Start Feb 2012
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
Staff
Paid Full-Time Staff 0
Paid Contractors 0
Volunteers 4
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: 

  • Pathway to Hope
  • Churches
  • Hillcrest Transitional Housing
  • Area high schools
  • PowerShift Worship Center

Some of the organizations supporting Moneytalk include: 

  • Arvest Bank - volunteered with a few workshops, donated a cart to haul workshop supplies
  • Century Link – has included Moneytalk on their list of non-profits employees can donate to from their paycheck
  • Christian Brother's Automotive in Shawnee - owner serving on the board of directors, host Moneytalk as the Charity of the Month twice in 2018, partnering on donated vehicle efforts
  • Crossroads Christian Church - donating classroom space to host workshops
  • Helping Hands Cleaning Ministry - donated multiple raffle items for house cleaning services
  • TopGolf - donating cost of half of the signature room for use as a fundraiser location
  • TV25 - donating assistance in creation an ad, multiple raffle items for free air time, and live streamed the 2017 TopGolf fundraiser
Awards
Award/RecognitionOrganizationYear
Volunteer of the Year (Nominated)Junior Achievement2018
CEO Comments

Our board of directors meet regularly, every other month for 2 hours.  We have board meeting minutes, executive director updates, discuss new opportunities, make fundraising plans, and set strategic goals.  All of the planning is done at a very high level.

While we have made good progress over the years, the progress has not been as efficient and successful as we would like.  Over the years, we have tried a variety of fundraising and income stream generating opportunities.  Unfortunately, they have not always worked out very well.  Our best fundraiser to date has been a shoe drive through Funds2Orgs.  We received about $1,100 in the 2nd and 3rd years.  However, if you calculate the amount of time and mileage spent running this 2 month long fundraiser, we probably lost money.  The shoe drive definitely had a significantly negative impact on our ability to spend time providing workshops, coaching clients, and building relationships through networking.
 
I would really to take the board of directors, and advisory board members, on a weekend retreat away from their jobs, stresses, and other responsibilities.  Developing a more in-depth plan to reach financial stability and strategic plan will help streamline initiatives and opportunities.  I also believe an annual focused board retreat will help all of our initiatives (programming, fundraisers, networking, partnerships, collaboration efforts, financial stability, and such) be more successful.  By growing in these areas, we will be equipped to help many more individuals and begin implementing other planned programming.
Board Chair
Board Chair Ms. Teresa McGarry
Company Affiliation Moneytalk Financial Foundations
Term Feb 2012 to Dec 9999
Email teresa@moneytalkff.org
Board Members
NameAffiliation
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 4
Hispanic/Latino 0
Native American/American Indian 0
Other 0
Board Demographics - Gender
Male 1
Female 3
Unspecified 0
Governance
Board Term Lengths 2
Board Term Limits 0
Board Meeting Attendance % 100%
Written Board Selection Criteria? Under Development
Written Conflict of Interest Policy? Yes
Percentage Making Monetary Contributions 100%
Number of Full Board Meetings Annually 6
CEO Comments
We are in the process of developing an advisory board.  Our goal is to have 3 types of individuals on the advisory board.
 
1) Professionals in the financial topics included in our programming.  These individuals will also be responsible for the annual review of the workbooks to ensure compliance with any new or modified regulations, products, and services.
 
2) Non-program specific professionals are needed to help ensure organizational compliance and support in organizational specific areas such as accounting, tax reporting, HR, and more.
 
3) Collaboration representatives are highly encouraged to help recommend program development and services.  These individuals are responsible for communicating their goals and client needs especially as it relates to how Moneytalk can help provide a solution. 
Financials
Fiscal Year Start Jan 01, 2018
Fiscal Year End Dec 31, 2018
Projected Revenue $50,000
Projected Expenses $50,000
Spending Policy Income Only
IRS Letter of Exemption
Foundation Comments
  • FY 2017, 2016, 2015: Financial data reported using the IRS Form 990-EZ.
  • Foundation/corporate revenue line item may include contributions from individuals.
Detailed Financials
 
Expense Allocation
Fiscal Year201720162015
Program Expense$7,927$1,211$1,123
Administration Expense$11,140$15,066$153,207
Fundraising Expense$0$0$0
Payments to Affiliates$0$0$0
Total Revenue/Total Expenses0.961.261.00
Program Expense/Total Expenses42%7%1%
Fundraising Expense/Contributed Revenue0%0%0%
Assets and Liabilities
Fiscal Year201720162015
Total Assets$1,371$3,971$560
Current Assets$1,371$3,971$560
Long-Term Liabilities$0$0$0
Current Liabilities$62$0$0
Total Net Assets$1,309$3,971$560
Short-Term Solvency
Fiscal Year201720162015
Current Ratio: Current Assets/Current Liabilities22.11----
Long-Term Solvency
Fiscal Year201720162015
Long-Term Liabilities/Total Assets0%0%0%
Top Funding Sources
Fiscal Year201720162015
Top Funding Source & Dollar Amount --Individual Donor $7,252 --
Second Highest Funding Source & Dollar Amount --DST Matching Gifts $6,000 --
Third Highest Funding Source & Dollar Amount --Wal-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.
Other Documents
Brochure - Banks & Financial Businesses2018View
Brochure - Church2018View
Brochure - Coaching2018View
Brochure - Donors & Volunteers2018View
Brochure - Workshops2018View
Closer Look - Workshop Handout2018View
Advisory Board - Roles & Responsibilities2018View
Organization Name Moneytalk Financial Foundations, Inc
Address P.O. Box 860184
Shawnee, KS 66286
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