Moneytalk Financial Foundations, Inc

Breaking the cycle of poverty, Opening the door to a new life.

aka Moneytalk   |   Shawnee, KS   |  https://moneytalkff.org

Mission

Moneytalk’s Vision is a world where everyone is financially stable. We define financially stable as being employed, housed, and able to pay their own bills. Our Mission is to provide basic financial life-skill education with continuing support for the under-served in a faith-based Christian environment. During the financial literacy workshops and coaching, we strive to help clients improve their self-confidence, self-esteem and empowerment. We focus on teaching the skills, options, benefits and challenges with each option, and so on. We do not tell the client what to do but guide them in learning how to make their own decisions. This approach provides dignified, self-help opportunities for families to break the cycle of poverty and become financially stable.

Notes from the nonprofit

While most non-profits are based on the large number of people they support, we are focused on making a long-term impact for those we help. Therefore, we will have a much smaller number of people helped, but the help we provide will make a life-changing impact on that person, their family, and those around them. While we focus primarily on Johnson & Wyandotte counties in KS, we work across the KC Metro. We have also worked in Topeka, Lawrence, and Fort Leavenworth (on the military base). Now that workshops and coaching are also offered virtually, we can provide this program to a much larger audience.

Ruling year info

2014

Executive Director / Founder

Mrs. Teresa McGarry

Main address

P O Box 860184

Shawnee, KS 66286 USA

Show more contact info

EIN

46-3216486

NTEE code info

Financial Institutions/Services (Non-Government Related) (W60)

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 2020, 2020 and 2019.
Register now

Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

There are many wonderful organizations helping people make it through today or this week. But, the problem is that these same individuals and families need the same help again tomorrow and next week. Moneytalk's focus is to help these individuals move from needing help every day to being financially stable. We define financially stable as being housed; able to pay their bills in full and on-time; able to pay at least the minimum on their debts; able to create and stick to a budget; successfully manage a bank account; and no longer need outside (government or non-profit) financial assistance. Too many families and individuals are living paycheck to paycheck. There are many who are not able to make their paycheck last until the next paycheck, hence the need for food pantries, food stamps (SNAP), and other temporary support efforts. Through education, employment assistance, and ongoing support, we are assisting those who want to break the cycle and become financially stable.

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 Stewardship

The Financial Stewardship program includes financial literacy workshops in area schools, financial coaching, workshops within other non-profits, and as a 6-week academy series.

Our financial coaching process has a small fee, of which only covers a small portion of the resources needed, intended to encourage clients to take the sessions seriously. We do not offer a traditional sliding scale for those who cannot afford to pay, but instead we bless them with a scholarship. We feel the scholarship approach sends a more positive message regarding their value as a person and the value of the service they receive.

The financial workshops in both personal and consumer topics.

We plan to continue offering online coaching and workshop videos.

Once we have our own space, we would like to partner with those in the homeownership fields to create a Homeownership Center and gain NeighborWorks certification. There are currently only 2 partially certified centers in the KC Metro area (one in KS and one in MO). With the partnerships we have started developing, we will be the only fully certified center in the KC Metro. Interactive online workshops and online courses will be developed as funding and resources support.

Population(s) Served
Economically disadvantaged people
Families

The Work Readiness program focuses on employment preparation, acquisition, and support. Currently, this program is limited to job interview preparation in schools.

Once we can obtain our own space, we can greatly expand this program to include technical skills, soft skills, problem solving skills, job interview and resume skills, and employment connection opportunities. We will be partnering with local companies to ensure we are preparing clients for jobs that are available. We will be using the Kansas WorkReady Certification to help assess their employability. The support portion after they obtain employment will include working with the client and employer to help client adjust to the work environment, mentor through technical and soft skills, and pre-emptively resolve issues. We also plan to develop online opportunities to provide these services for those who are not local.

Population(s) Served
Adults
Young adults

The Ongoing Support program currently consists of phone support, gift cards to help with groceries and gas, minor funds for vehicle safety related repairs, and transportation assistance. We would like to, at some point, be able to partner with a child care organization to provide child care for those in need so that they can go to work without being forced to leave young children at home alone.

Once we can obtain our own space, we will greatly expand our Ongoing Support program’s wrap-around services. As part of our methodology, we issue credits for positive steps and behaviors the clients make toward becoming financially stable which they can then choose how to spend in the Incentive Store. The Incentive Store will be popular as it will be stocked with basic needs such as groceries, baby items, toiletries, over the counter medications, school supplies, etc. Clients will also be able to use credits to “purchase” gift/prepaid cards for gas, clothing, or other items. This especially helps single moms who desire dignified self-help opportunities without being degrading. We also anticipate clients will need lots of opportunities for socializing, encouragement, and group activities.

During the COVID-19 stay-at-home and recovery period, we will not be tracking incentive credits needed for the wrap-around services. These services will be available to anyone in need.

Population(s) Served
Families
Economically disadvantaged people

The After School Program is planned, but not yet started. This program will provide homework assistance, a safe place to hang out, adulting 101 lessons, and access to all of the other financial literacy and support opportunities.

Population(s) Served
Children and youth
Young adults

Where we work

Awards

Volunteer of the Year Nominee 2018

Junior Achievement

CEO of the Week 2018

DataBirds

Affiliations & memberships

EnVision Innovation Center - KCK & KCMO 2019

EnVision Innovation Center - KCK & KCMO 2020

Our Sustainable Development Goals

SOURCE: Self-reported by organization

Learn more about Sustainable Development Goals.

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.

When we are hosting financial workshops, the goal is to have the students and adults familiar with financial tools they might not have been aware exist; a basic understanding of the terminology used; a fundamental of how the financial tool works; how the financial tool impacts and is impacted by other financial tools; and how the financial tool will benefit them.  The students will be empowered to seek out these financial tools as a result of these workshops. Moneytalk Financial Foundations coaching will enable individuals, couples, and families to make great strides toward becoming financially independent. Through the coaching portion of this program, these individuals will have a monthly budget allowing them to successfully manage a bank account, pay their bills in full and on time, reduce their debt, increase their savings, start an emergency fund, and increase their credit score. Through these changes in money management, these individuals will also experience more stability in their families, home, and job.

The client progress in their money management will come through services such as financial life-skill workshops (such as budgeting, managing a bank account, basics of insurance, etc), financial coaching for individuals and couples, ongoing support, and much more. Participating clients will receive financial coaching 2 times per month for 1 hour each session. The first session will be focused on their specific skill, foundational, emotional, or physical challenges. We will be working with these individuals to help them learn needed skills and overcome these challenges. The second session will be focused on reviewing the previous month’s budget successes and challenges; preparing their budget for the upcoming month; and updating the progress on their goals. Both sessions will include follow-up and accountability on their agreed upon action items. The clients participating in coaching will also receive incentives according to their progress and efforts. Participating clients will be encouraged to attend a workshop related to their financial skill learning needs. For example, a client who has struggled with bouncing checks will be encouraged to attend a Managing a Bank Account workshop series. Participating clients will be encouraged to attend a minimum of one Courage to Change financial support group per month. There will be weekly meetings available to help clients through providing accountability, addressing unexpected expenses, preparing low to no-cost gift giving, simple cooking classes, and more. Participants will also have access to the financial hot line where they can call for advice, resource referral, and some financial assistance in a crisis. It has been our experience clients are more likely to continue making progress if they have some investment in the process. Therefore, clients will be expected to investment either a small fee or volunteer hours. As their money is tight, we offer both a need-based scholarship and an earned scholarship through volunteering. If they choose to pay a small monthly fee, they will be required to sign a Client Agreement stating the monthly amount and length of time. This agreement will allow the client to be included in the reporting to the credit reporting bureaus; thereby providing the client with current positive (assuming payment is made in full and on time) transactions which will help their credit score and everything that uses this score. If they choose volunteer hours, we will do our best to provide them with opportunities to use their skill set either with Moneytalk or one of our partnering non-profits. This volunteer work will also be something they can include on their resume.

We have developed our own, simple to understand, workbooks and activities to help student and adult clients grasp the basic skills.  We also work in partnership with schools, nonprofits, and for-profit businesses in any way feasible. When we are able to get our own office space, we will be able to support more volunteers for both behind the scenes needs and working with clients.  These volunteers will have an application process, references checked, and background checks.  There will also be an extensive training process for the volunteers who are providing workshops in the community and/or schools and those who are coaching.

Workshops in the community continue to be a challenge.  We believe this is partly due to waiting to reserve a location until we have paid registrations and the cost of the workshop.  Sponsorships will help us rent space earlier and reduce the cost (or remove the cost) for the attendees. So far in 2018, we have worked with almost 800 students with over 300 more scheduled during the remainder of the year.  We are working on a Memo of Understanding (MOU) with Junior Achievement to be an official non-profit partner focusing on their Finance Park program and mock job interviews.   We also have several partnerships in the process of being developed.  Pathway to Hope is opening a Reclamation Clubhouse in Olathe and Moneytalk will be providing all of the workshops and financial coaching services.  aStreamVillage is leading a pilot program initiated by Housing and Urban Development (HUD) focusing on KCK and KCMO.  Moneytalk will be one of the resources clients will use for financial life-skill and coaching needs.  Will Shields is planning to host several workshops for his staff and customers at 68 Inside Sports as well as in his other initiatives.  (We have had many challenges getting the first workshop scheduled).Hillcrest Transitional Housing is considering contracting with Moneytalk to help provide weekly budget counseling for their residents.PowerShift Worship Center in Raytown is starting an Impact Ministry initiative to provide personal and entrepreneurial financial life-skills for their congregation and surrounding community.  Moneytalk will be the primary provider of these workshops and coaching efforts.One thing we have not yet accomplished is establishing the financial stability to be able to support our own office space.  This space will allow us to expand our volunteer base exponentially, host workshops at our location (instead always renting from someone else), assist with pulling credit reports and scores (as a separate secure location is required), and begin many of the ongoing support plans needed to help these individuals make life-long changes.

Our website has been re-written to be mobile responsive as of May 2020. We are also hosting coaching and workshops on Zoom.

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 your organization collecting feedback from the people you serve?

  • How is your organization using feedback from the people you serve?

  • With whom is the organization sharing feedback?

  • What challenges does the organization face when collecting feedback?

Financials

Moneytalk Financial Foundations, 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.

Moneytalk Financial Foundations, Inc

Board of directors
as of 2/25/2021
SOURCE: Self-reported by organization
Board chair

Ms. Teresa McGarry

Moneytalk Financial Foundations

Term: 2012 - 9999

Teresa McGarry

Moneytalk Financial Foundations

Tammie Green

Christian Brothers Automotive

Christian Wright

Mid American Credit Union

Alicia Weatherstrand

Client

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? No
  • 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