Educational Institutions

Northern New England Center for Financial Training

Unlock Your Potential

aka CFTEA   |   Springvale, ME   |  www.cftea.org

Mission

CFTEA is committed to offering professional continuing education programs in partnership with financial institutions and area organizations and their employees. We value and deliver a high standard of cost-effective educational programs while promoting personal growth through professional development.

Ruling year info

1997

Executive Director

Andrew Lederer

Main address

PO Box 365

Springvale, ME 04083 USA

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EIN

01-0511583

Cause area (NTEE code) info

Adult, Continuing Education (B60)

IRS filing requirement

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

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Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

The Northern New England Center for Financial Training is seeking to expand our access to financial and development education to individuals displaying financial need, women and minorities located in our service areas of Maine, New Hampshire, Vermont and Virginia. The objective of our CFTEA On-Demand Project is to leverage technology in a way to reduce educational costs for students, provide access to education that allows individual balance of work-life balance and unlocks educational career paths for greater success in the community.

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?

Professional Development

Business professional development with educational career paths and national certifications.

Population(s) Served
Adults
Economically disadvantaged, low-income, and poor people
Budget
$400,000

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 alumni (regardless of last date of enrollment) who submit updated contact information to the alumni office within the most recent academic year

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

Adults,Economically disadvantaged, low-income, and poor people

Related Program

Professional Development

Type of Metric

Input - describing resources we use

Direction of Success

Increasing

Context Notes

Contact information is updated when alumni reach out to interact with our non-profit. At times contact information for their jobs changes. The CFTEA office uses this material to update student files

Number of clients participating in educational programs

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

Adults,Economically disadvantaged, low-income, and poor people

Related Program

Professional Development

Type of Metric

Input - describing resources we use

Direction of Success

Increasing

Context Notes

The goal is to increase the number of clients and there was been substantial effort in updating dated programs and meeting the needs of a modern workforce.

Number of editorial board meetings held

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

Adults,Economically disadvantaged, low-income, and poor people

Related Program

Professional Development

Type of Metric

Input - describing resources we use

Direction of Success

Holding steady

Context Notes

These meetings are held annually each quarter to manage the community outreach and workforce development initiatives for the organization. The meetings review options to better support communities.

Number of donations made by board members

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

Adults,Economically disadvantaged, low-income, and poor people

Related Program

Professional Development

Type of Metric

Input - describing resources we use

Direction of Success

Increasing

Context Notes

Board members are not required to provide fundraising to our non-profit however they volunteer their time on various projections and student interactions and programs.

Average number of years of formal education for teachers/instructors

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

Adults,Economically disadvantaged, low-income, and poor people

Related Program

Professional Development

Type of Metric

Input - describing resources we use

Direction of Success

Holding steady

Context Notes

Due to retirement, instructor average age has declined, but has provided new opportunities and more engagement from younger members of the team.

Number of clients reporting increased knowledge after educational programs

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

Adults,Economically disadvantaged, low-income, and poor people

Related Program

Professional Development

Type of Metric

Input - describing resources we use

Direction of Success

Increasing

Context Notes

Metric was not tracked but has been added in 2019 to show increased knowledge and would students recommend programs to others. This is allowing us to clearly look at quality and effectiveness.

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

Charting impact

SOURCE: Self-reported by organization

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

What is the organization aiming to accomplish?

NNECFT is seeking to increase student enrollment by enabling our target population to have access to financial education and to provide opportunities for advancement for those currently working in a minimum wage position. This is done through quality education partners and leveraging technology to meet the busy demands of students seeking life-work balance. It is critical to community success to provide access to quality education that improves our communities through educational career paths and financial literacy.

NNECFT has completed a three strategic plan that focuses on Student Experience, Organizational Viability and Partnerships. These key strategies drive the direction of the organization to update materials and enhance the use of technology to improve the learning experience. New nationally recognized certifications have been created to allow for a clear educational career path for those seeking to develop and/or enhance their careers.

NNECFT leverages a large number of volunteers that have assisted in updating materials and use instructional design to meet the demands of today's learners. Additionally, vendors, where appropriate, have been utilized to meet the changing needs in learning and development.

The main objectives include: 1. Providing a measurable increase in student enrollments and access to financial education. The objective will be to increase student access by 25% the first year for target population. 2. Decrease cost for classes. Technology driven classes cost less than live classes. The objective will be to decrease course cost by 20% the first year.

Over 40 course materials have been updated, social media support and presence has been added, our website is currently being redesigned to enhance the student experience and a grant has been requested to leverage technology and have a learning management system.

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 shared information about our current feedback practices.
  • How is the organization collecting feedback?

    We regularly collect feedback through: electronic surveys (by email, tablet, etc.), paper surveys, focus groups or interviews (by phone or in person), suggestion box/email.

  • How is the organization using feedback?

    We use feedback to: 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.

  • With whom is the organization sharing feedback?

    We share feedback with: our staff, our board, our community partners.

  • What challenges does the organization face when collecting feedback?

    It is difficult to: it is difficult to get the people we serve to respond to requests for feedback, it is hard to come up with good questions to ask people.

  • What significant change resulted from feedback

    New programs have been created for educational career paths with certificates and diplomas in under served areas. This has resulted in growing from 10 to nearly 30 new career paths for conversations within departments/areas for workforce development. The feedback has been very positive from this requested change.

Financials

Northern New England Center for Financial Training
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Operations

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

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Connect with nonprofit leaders

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

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This organization has no recorded board members.

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 ? Yes
  • 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

Keywords

professional development, bank training, leadership, business skills