Youth Development

8 Cents in A Jar Inc

Investing in our kids' future through financial education

Apopka, FL   |  www.8cents.org

Mission

To provide students in marginalized communities with engaging resources and capital to become financially capable.

Ruling year info

2016

Principal Officer

Lashea Reaves

Main address

P.O Box 8

Apopka, FL 32704 USA

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EIN

81-3359383

Cause area (NTEE code) info

Youth Development Programs (O50)

Economics (as a Social Science) (V22)

IRS filing requirement

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

Communication

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

8 Cents in Jar aims to diminish the cycle of generational poverty. Starting at the age of 8, we develop students from elementary through high school and higher education and teach them how to save money, acquire assets, and build wealth to increase economic mobility. Our efforts help students avoid common pitfalls with money management and take advantage of wealth accumulation at an early age in life across generations.

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?

Change Academy

Our signature fundraising event for adults to meet some of Orlando's top Financial Advisors and learn about investing within a relaxed environment with drinks and dialogue. Proceeds from the fundraiser will benefit the student stock market competition and funding student Scholarjars.

Population(s) Served
Adolescents (13-19 years)
Economically disadvantaged, low-income, and poor people
Budget
$5,000

Community change jars allow students the opportunity and funding to open their first savings account with spare change donated by their community. 8 Cents in a Jar will partner with a local business owner to host the change jar and work experience for the student.

Population(s) Served
Adolescents (13-19 years)
Economically disadvantaged, low-income, and poor people
Budget
$2,000

The Senior Saturday of Savings and Scholarship Session is a send-off to graduating seniors as they embark on adulthood. Filling in the gaps in home economics and financial literacy, students will learn "adulting" skills to receive micro-scholarships towards life after high school.

Population(s) Served
Adolescents (13-19 years)
Economically disadvantaged, low-income, and poor people
Budget
$9,000

Teach Students Money is an expo for students in grades 6 through 12 combining high energy, interactive sessions designed to educate students on how to acquire and save money. Through this simulation, students travel around a life-sized board game to make lifestyle and budget choices.

Population(s) Served
Adolescents (13-19 years)
Economically disadvantaged, low-income, and poor people
Budget
$15,000

Orlando Saves is a joint partnership with America Saves, a campaign managed by the nonprofit Consumer Federation of America that motivates, encourages, and supports low- to moderate-income families to save money, reduce debt, and build wealth. The research-based campaign uses the principles of behavioral economics and social marketing to change behavior.

Population(s) Served
Families
Economically disadvantaged, low-income, and poor people
Budget
$5,000

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 students showing improvement in test scores

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

Adolescents (13-19 years),Economically disadvantaged, low-income, and poor people

Related Program

Change Academy

Type of Metric

Outcome - describing the effects on people or issues

Direction of Success

Increasing

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?

Create a plan to build new and deepen existing partnerships to better reach, serve, and collaborate with students’ families in the nine most poverty-stricken communities in Central Florida.Sustain a consistent donor program to invigorate individual giving, corporate contributions, and self-funding programs leading to the future capability of a successful capital campaign.Enhance the organizational resources and tools needed to sustain growth and position the organization for long-term impact.

Grow 8 Cents in a Jar brand loyalty and program sustainability to generate awareness by maintaining a consistent voice and compelling story through program outcomes.Build a culturally attuned organization devoted to our people and culture by investing in volunteers, board members, and associated parties to increase retention and revenue. Develop sustainable governance measures to scale effectively and accommodate all requests for services of 8 Cents in a Jar.

Grow 8 Cents in a Jar brand loyalty and program sustainability to generate awareness by maintaining a consistent voice and compelling story through program outcomes.Build a culturally attuned organization devoted to our people and culture by investing in volunteers, board members, and associated parties to increase retention and revenue. Develop sustainable governance measures to scale effectively and accommodate all requests for services of 8 Cents in a Jar.

Our leading indicators for student successfully measures at becoming financially capable is measured by the percentage of student utilization of financial resources, increase in financial capability assessments, and students progress towards achieving financial goals.

Our progression towards developing our volunteers is a current work in progress. Within three years of starting 8 Cents in a Jar, we've outgrown our current model and acutely need to train and equip additional volunteers to handle our external demand from stakeholders.

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.), focus groups or interviews (by phone or in person).

  • How is the organization using feedback?

    We use feedback to: to identify bright spots and enhance positive service experiences, to make fundamental changes to our programs and/or operations, to strengthen relationships with the people we serve.

  • With whom is the organization sharing feedback?

    We share feedback with: our board.

  • What challenges does the organization face when collecting feedback?

    It is difficult to: it is difficult to find the ongoing funding to support feedback collection.

Financials

8 Cents in A Jar Inc
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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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8 Cents in A Jar Inc

Board of directors
as of 5/16/2020
SOURCE: Self-reported by organization
Board chair

Evans Reaves

Charles Schwab

Term: 2019 - 2021

Lashea Reaves

IBERIABANK

Cherrief Jackson

Corteva

Laura Michener

Charles Schwab

Charline Charles

Orange County Public Schools

Jamara Wilson

Tuxedo Impressions

Renee Washington

OST Global

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 ? Not applicable
  • 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? Not applicable

Keywords

financial literacy, youth development, child poverty, economic mobility, youth financial education, generational poverty, intergenerational wealth