My Money Workshop Inc

Providing actionable steps for a brighter financial future.

aka My Money Workshop   |   New York, NY   |  www.mymoneyworkshop.org

Mission

Our mission is to educate people to manage their finances and to make a lifetime of informed decisions.

Ruling year info

2009

Executive Director

Gineyda Diaz

Co-President

Rob Yaffa

Main address

1202 Lexington Avenue Suite 212

New York, NY 10028 USA

Show more contact info

EIN

27-0726256

NTEE code info

Financial Counseling, Money Management (P51)

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Sign in or create an account to view Form(s) 990 for 2022, 2021 and 2020.
Register now

Communication

Blog

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

We were founded in 2009 to improve basic financial literacy and to help students and community members understand and evaluate everyday money issues. After several successful pilots in schools and colleges, we expanded to community-based organizations. In a National Financial Capability Study, 63% of Americans answered 3 or fewer questions about everyday finance correctly. A 2016 PWC survey of 5,000 millennials found that 24% had the basic financial knowledge and that only 30 percent of Americans feel confident in the knowledge they have about managing finances. We saw a 22% rise in workshops in 2018, serving over 2,000 individuals. One of the qualities that truly sets My Money Workshop apart from other financial literacy organizations is that we customize every single presentation to the students’ needs. We teach our students that small lifestyle changes can result in big savings. This approach connects the student with the content so they learn to make better financial decisions​.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

FINANCIAL LITERACY

Since its inception, My Money Workshop has taught nearly 25,000 students and community members throughout the New York Tri-State area. We have a dedicated team of talented volunteer instructors that bring our financial literacy workshops to over 100 schools and organizations annually. We provide customized financial literacy education programs to public/private high schools, colleges, universities, specialty schools, and community-based organizations. We reach a diverse population from all economic backgrounds.

Population(s) Served
Adults
Preteens
Adolescents
Social and economic status
Students

Where we work

Our results

SOURCE: Self-reported by organization

How does this organization measure their results? It's a hard question but an important one.

Number of participants attending course/session/workshop

This metric is no longer tracked.
Totals By Year
Population(s) Served

Adolescents, Adults, Young adults

Related Program

FINANCIAL LITERACY

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

The COVID-19 restrictions and closures in schools in 2020 significantly reduced our ability to reach students.

Number of volunteers

This metric is no longer tracked.
Totals By Year
Population(s) Served

Adults, Adolescents, Preteens, Parents, Economically disadvantaged people

Related Program

FINANCIAL LITERACY

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Context Notes

This number includes our board members. Our goal was to have 50 volunteers by 2020. We've since exceeded that goal and now have almost 80 instructors in our roster.

Total number of classes offered

This metric is no longer tracked.
Totals By Year
Population(s) Served

Adolescents, Adults, Young adults

Related Program

FINANCIAL LITERACY

Type of Metric

Output - describing our activities and reach

Direction of Success

Decreasing

Context Notes

In 2020, we scheduled 227 seminars, but due to COVID-19 restrictions and closures, only delivered 141.

Number of organizational partners

This metric is no longer tracked.
Totals By Year
Population(s) Served

Adults, Adolescents, Preteens, Economically disadvantaged people, At-risk youth

Related Program

FINANCIAL LITERACY

Type of Metric

Output - describing our activities and reach

Direction of Success

Increasing

Number of donations made by board members

This metric is no longer tracked.
Totals By Year
Population(s) Served

Adults, Preteens, Adolescents, Social and economic status, Unemployed people

Related Program

FINANCIAL LITERACY

Type of Metric

Input - describing resources we use

Direction of Success

Increasing

Context Notes

The board has grown steadily in the last 3 years. All board members are committed to the growth of the organization and therefore make a significant donation to the organization.

Average number of dollars received per donor

This metric is no longer tracked.
Totals By Year
Population(s) Served

Adults, Children and youth, Social and economic status, Students

Related Program

FINANCIAL LITERACY

Type of Metric

Input - describing resources we use

Direction of Success

Increasing

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

We are helping students and community members develop financial strategies for a successful future. Our goal is to teach students financial strategies to avoid costly long-lasting mistakes. By teaching students how to save, stay on top of their credit reports, budget, etc., we are empowering the next wave of professionals and savvy consumers.

Our goal is to be the preeminent financial literacy education provider in schools and in under-resourced communities.
With the support of our donors, friends, and partners, My Money Workshop is working toward a future where:
• communities are equitable and thriving and that finances are not an ‘issue’ for adults
• That your income does not limit the life you lead
• generational wealth is for everyone
• All children receive financial education in schools
• All people are paid equally and equitable
• People have no financial stress
• Everyone experiences meaningful, balanced, no-stress life
• Have a positive quality of life

My Money Workshop offers a holistic program that promotes financial wellness. With the help of over 50 instructors, we collaborate, with schools and organizations to ensure that we are best addressing the students’ and community members’ needs.
Our programs empower our participants, both youth and adults, to learn to advocate for themselves as they begin or expand their financial journeys.
My Money Workshop partners with middle and high schools, colleges, universities, graduate schools, specialty schools, and community-based organizations to deliver highly interactive workshops. We have created financial literacy courses designed for a one-period class during the school day to an all-summer program for Boys and Girls Club campers to an eight-week program for unemployed and underemployed adults -- and everything in between. We work with children and adults as well as special learners.

Workshops are delivered by expert volunteer instructors from all financial sectors. Our goal is to work with the school or community agency to create ideal content for every workshop.

In 2020 we planned to
o Identify curriculum to use based on previously vetted ones
o Create curricula that is relevant for the people and areas we want to reach
o Create a training plan for instructors

Our dedicated volunteer instructors are trained to deliver our material and engage the students so the students are able to apply the lessons to their own lives. Instructors travel to a client location as assigned. Materials are emailed beforehand or printed day-of. Each presentation is tailored to the population of students by our staff and instructors.
Since 2018 we have grown our volunteers by 150% and look forward to doubling that by 2023. These new instructors will help us meet the growing needs needs of our communities.

In 2018, we hosted 180 workshops, reaching over 2,000 students. The organization has seen an increase in funding that has allowed us to hire our first-ever Executive Director to lead the organization into its next growth phase. Since then our board has grown 75%, our volunteer instructors 150% and we now have a digital curriculum that allows us to meet students where they are and to provide people who may not typically have access to this kind of programming with the tools they need to build financially successful lives.

How we listen

SOURCE: Self-reported by organization

Seeking feedback from people served makes programs more responsive and effective. Here’s how this organization is listening.

done We demonstrated a willingness to learn more by reviewing resources about feedback practice.
done We shared information about our current feedback practices.
  • How is your organization using feedback from the people you serve?

    To identify and remedy poor client service experiences, To identify bright spots and enhance positive service experiences, To make fundamental changes to our programs and/or operations, To inform the development of new programs/projects, To strengthen relationships with the people we serve, To understand people's needs and how we can help them achieve their goals

  • Which of the following feedback practices does your organization routinely carry out?

    We collect feedback from the people we serve at least annually, We take steps to get feedback from marginalized or under-represented people, We aim to collect feedback from as many people we serve as possible, We take steps to ensure people feel comfortable being honest with us, We look for patterns in feedback based on demographics (e.g., race, age, gender, etc.), We look for patterns in feedback based on people’s interactions with us (e.g., site, frequency of service, etc.), We engage the people who provide feedback in looking for ways we can improve in response, We act on the feedback we receive, We tell the people who gave us feedback how we acted on their feedback, We ask the people who gave us feedback how well they think we responded

  • What challenges does the organization face when collecting feedback?

    It is difficult to get the people we serve to respond to requests for feedback

Financials

My Money Workshop Inc
lock

Unlock financial insights by subscribing to our monthly plan.

Subscribe

Unlock nonprofit financial insights that will help you make more informed decisions. Try our monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights?
Learn more about GuideStar Pro.

Operations

The people, governance practices, and partners that make the organization tick.

lock

Connect with nonprofit leaders

Subscribe

Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

lock

Connect with nonprofit leaders

Subscribe

Build relationships with key people who manage and lead nonprofit organizations with GuideStar Pro. Try a low commitment monthly plan today.

  • Analyze a variety of pre-calculated financial metrics
  • Access beautifully interactive analysis and comparison tools
  • Compare nonprofit financials to similar organizations

Want to see how you can enhance your nonprofit research and unlock more insights? Learn More about GuideStar Pro.

My Money Workshop Inc

Board of directors
as of 12/08/2021
SOURCE: Self-reported by organization
Board co-chair

Robert Yaffa


Board co-chair

Richard Yaffa

June Jaffee

Muriel Seibert Foundation

Douglas Alpuche

Earle Yaffa

Skadden Arps

Eric Ribachonek

UHY

Celene Menschel

Neal Canell

JP Morgan Chase

Jay Canell

JP Morgan Chase

Charles Swift

Marc Jerome

Monroe College

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? Yes
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? No
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? Yes
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? Yes
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No

Organizational demographics

SOURCE: Self-reported; last updated 12/7/2021

Who works and leads organizations that serve our diverse communities? Candid partnered with CHANGE Philanthropy on this demographic section.

Leadership

The organization's leader identifies as:

Race & ethnicity
Hispanic/Latino/Latina/Latinx
Gender identity
Female, Not transgender
Sexual orientation
Heterosexual or Straight
Disability status
Person without a disability

The organization's co-leader identifies as:

Race & ethnicity
White/Caucasian/European
Gender identity
Male, Not transgender
Sexual orientation
Decline to state
Disability status
Person without a disability

Race & ethnicity

Gender identity

Transgender Identity

Sexual orientation

Disability

We do not display disability information for organizations with fewer than 15 staff.

Equity strategies

Last updated: 11/16/2019

GuideStar partnered with Equity in the Center - an organization that works to shift mindsets, practices, and systems to increase racial equity - to create this section. Learn more

Data
  • We review compensation data across the organization (and by staff levels) to identify disparities by race.
  • We disaggregate data to adjust programming goals to keep pace with changing needs of the communities we support.
  • We employ non-traditional ways of gathering feedback on programs and trainings, which may include interviews, roundtables, and external reviews with/by community stakeholders.
  • We have long-term strategic plans and measurable goals for creating a culture such that one’s race identity has no influence on how they fare within the organization.
Policies and processes
  • We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.