Arizona Council On Economic Education
Arizona Council On Economic Education
EIN: 86-0896574
as of September 2024
as of September 09, 2024
Mission
To reach and teach every Arizona student to become financially and economically responsible in work and life. The ACEE envisions a world where all school-aged children are empowered through economic and personal financial literacy to make informed and rational choices throughout their lives as consumers, savers and investors, workers, entrepreneurs, citizens, and participants in a global economy.
Ruling year
1998
President & CEO
Ms. Elena Zee
Main address
16421 N Tatum Blvd Ste 123
Phoenix, AZ 85032 USA
EIN
86-0896574
Elementary and secondary education
Economics
Job creation and workforce development
Economics for youth
Entrepreneurship
Population served
Children and youth
Students
Adults
Families
Teachers
NTEE code
Elementary, Secondary Ed (B20)
Youth Development Programs (O50)
Employment Training (J22)
IRS subsection
501(c)(3) Public Charity
IRS filing requirement
This organization is required to file an IRS Form 990 or 990-EZ.
Tax forms
Communication
Programs and results
Reports and documents
Download annual reportsWhat we aim to solve
Do you know almost half of American adults do not have $400 in emergency savings? That’s only one paycheck away from being homeless. Almost 20% of employees have financial problems severe enough to negatively impact their productivity and that a financially stressed employee spends 20 hours of work time each month on personal financial problems. Only 24% of Millennials surveyed could answer four out of five questions correctly in a financial literacy quiz. Only 10% of school-aged children receive some basic level of economic training. Kids are not learning about personal finance at home either. 69% of parents have reluctance about discussing financial matters with their kids. Compounding this failure in student performance, only 20% of teachers feel very competent teaching the subject. We believe children need to be prepared with basic financial and economic skills, just like reading, writing and arithmetic before entering the real world as adults.
Our programs
What are the organization's current programs, how do they measure success, and who do the programs serve?
Training Teachers
ACEE conducts comprehensive K-12 economic and personal finance education in alignment with Arizona Department of Education standards for each grade level. We reach 1500 teachers annually, impacting approximately 200,000 students.
Engaging Students and Families
ACEE hosts statewide Stock Market Game, Personal Finance Challenge, Economics Challenge, Financial Fitness in Action, Poster Contest, Beyond the Classroom Service Learning, and Rockonomix student programs statewide. ACEE conducts outreach and financial literacy family night to low income schools to bring parents and their children together to learn and talk about money.
Where we work
Accreditations
Assessment 2020
External assessments
Affiliations & memberships
Council for Economic Education 1998
Photos
Videos
Our results
How does this organization measure their results? It's a hard question but an important one.
Number of teachers trained
This metric is no longer tracked.Totals By Year
Related Program
Training Teachers
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Context Notes
Number of teachers receiving professional development and training to teach financial literacy, economics and entrepreneurship
Number of students reached in financial literacy, economics and entrepreneurship education
This metric is no longer tracked.Totals By Year
Related Program
Engaging Students and Families
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Context Notes
Through teacher training and strategic partnerships, our efforts multiply and reach more than 200,000 students who receive instruction and participate in our programs annually.
Number of schools served
This metric is no longer tracked.Totals By Year
Related Program
Engaging Students and Families
Type of Metric
Output - describing our activities and reach
Direction of Success
Increasing
Context Notes
We serve schools statewide through five distinct and integrated delivery models including in-service, pre-service, on-line, teacher conference and stand-alone in-person workshops.
Number of youth programs offered
This metric is no longer tracked.Totals By Year
Related Program
Engaging Students and Families
Type of Metric
Output - describing our activities and reach
Direction of Success
Holding steady
Percentage of trained teachers who are new
This metric is no longer tracked.Totals By Year
Type of Metric
Output - describing our activities and reach
Direction of Success
Holding steady
Percentage of Students from low to moderate income families
This metric is no longer tracked.Totals By Year
Related Program
Engaging Students and Families
Type of Metric
Output - describing our activities and reach
Direction of Success
Holding steady
Goals & Strategy
Learn about the organization's key goals, strategies, capabilities, and progress.
Charting impact
Four powerful questions that require reflection about what really matters - results.
What is the organization aiming to accomplish?
Research shows that student achievement depends on systemic teacher engagement and quality. ACEE aims for all 1.3 million school-aged children in Arizona to grow up and become economically literate and financially responsible. Arizona Council on Economic Education (ACEE) partners with and empowers K-12 schools and teachers to help Arizona students own their future and become economically responsible adults. ACEE offers professional development in teaching economics, financial literacy and entrepreneurship to more than 1,500 teachers statewide, reaching 300,000 students annually. Teachers to receive engaging and innovative resources and pedagogy to confidently educate their students in financial literacy and economics.
ACEE is the only statewide organization in Arizona which trains teachers, is academically based with partnership with the Federal Reserve Banks, Universities and Colleges, nonproprietary, and cross curricular with engaging lesson activities. Since its founding, ACEE has served 1,974 schools statewide.
ACEE delivers programs not only to teachers but also to students and parents from low income families. The student programs include Personal Finance Challenge, the Stock Market Game, Economics Challenge, Rockonomix, Financial Fitness in Action, Beyond the Classroom Service-Learning in Economic Education and Poster Contest. The financial literacy family night brings parents and their children together to learn and talk about money.
What are the organization's key strategies for making this happen?
Our strategy to deliver the programs and services is three-fold: training Arizona K-12 teachers, engaging students and coaching parents. By empowering teachers and parents who are most involved in children's daily lives, change in children's financial literacy and economic education is more sustainable.
Training Arizona K-12 Teachers: ACEE conducts comprehensive K-12 economic and personal finance education in alignment with Arizona Department of Education standards for each grade level. ACEE trains more than 1500 teachers, reaching 200,000 students annually. Teacher training is conducted via five distinct and integrated channels: in-district professional development; stand-alone workshops in partnership with higher ed institutions, the Federal Reserve Banks, or Arizona Department of Education; Webinars; workshops to student teachers; workshop sessions at statewide teacher conferences.
Engaging Students: statewide Stock Market Game, Personal Finance Challenge, Economics Challenge, Rockonomix, Poster Contest and Financial Fair for K-12 students. Arizona teams have placed top places at the national level.
Coaching Parents: Outreach to low income schools to conduct parent and children financial literacy after-school programs
What are the organization's capabilities for doing this?
People: Nationally distinguished educators in the field of economics and financial literacy to offer curriculum resources and pedagogy
Network: Have access to the national network of economic educators and cutting-edge curriculum resources.
Technology: new curriculum leveraging cutting-edge technology
Partners: strong partnership with K-12 schools, Arizona Department of Education, Federal Reserve Banks
What have they accomplished so far and what's next?
The Arizona Council on Economic Education (ACEE) is a 501(C)3 nonprofit organization dedicated to improving economic and personal financial literacy in Arizona. ACEE is the original author of Arizona K-12 Economic Education Academic Standards and the only organization in Arizona which: provides teacher professional development in teaching personal finance and economics; has a strong, affiliated academic base with universities and community colleges; and distributes proven independent economic education curriculum resources to schools free of charge. Since its founding in 1973, ACEE has served 1,974 schools in 104 cities, training 1,500 teachers and reaching 200,000 students annually.
There are 1.3 million students across 3,000 schools in Arizona. We are leveraging our unique statewide network to expand our programs into more parts of Arizona to reach the under-served students and teachers. We want to empower every teacher and educate every student to be economically literate and financially responsible.
Financials
Financial documents
Download audited financialsRevenue vs. expenses: breakdown
Liquidity in 2023 info
10.24
Months of cash in 2023 info
22.1
Fringe rate in 2023 info
11%
Funding sources info
Assets & liabilities info
Financial data
Arizona Council On Economic Education
Revenue & expensesFiscal Year: Jan 01 - Dec 31
Arizona Council On Economic Education
Balance sheetFiscal Year: Jan 01 - Dec 31
The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.
Fiscal Year: Jan 01 - Dec 31
This snapshot of Arizona Council On Economic Education’s financial trends applies Nonprofit Finance Fund® analysis to data hosted by GuideStar. While it highlights the data that matter most, remember that context is key – numbers only tell part of any story.
Created in partnership with
Business model indicators
| Profitability info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Unrestricted surplus (deficit) before depreciation | $63,952 | $28,305 | $176,144 | $76,830 | -$42,230 |
| As % of expenses | 16.8% | 6.3% | 33.1% | 11.9% | -5.5% |
| Unrestricted surplus (deficit) after depreciation | $61,953 | $26,810 | $174,960 | $75,447 | -$43,773 |
| As % of expenses | 16.2% | 6.0% | 32.8% | 11.7% | -5.7% |
| Revenue composition info | |||||
|---|---|---|---|---|---|
| Total revenue (unrestricted & restricted) | $475,842 | $483,277 | $738,615 | $700,524 | $826,431 |
| Total revenue, % change over prior year | 37.0% | 1.6% | 52.8% | -5.2% | 18.0% |
| Program services revenue | 5.4% | 3.0% | 4.4% | 4.5% | 5.4% |
| Membership dues | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Investment income | 0.6% | 0.6% | 0.1% | 0.4% | 2.3% |
| Government grants | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| All other grants and contributions | 94.0% | 96.4% | 95.5% | 95.1% | 92.4% |
| Other revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Expense composition info | |||||
|---|---|---|---|---|---|
| Total expenses before depreciation | $380,175 | $448,617 | $532,808 | $645,194 | $765,505 |
| Total expenses, % change over prior year | 10.0% | 18.0% | 18.8% | 21.1% | 18.6% |
| Personnel | 66.5% | 79.8% | 76.9% | 72.1% | 65.8% |
| Professional fees | 3.0% | 3.2% | 7.2% | 10.9% | 9.6% |
| Occupancy | 3.8% | 0.0% | 3.2% | 3.1% | 2.2% |
| Interest | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Pass-through | 0.0% | 0.0% | 0.0% | 0.0% | 3.6% |
| All other expenses | 26.6% | 17.0% | 12.7% | 13.9% | 18.9% |
| Full cost components (estimated) info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Total expenses (after depreciation) | $382,174 | $450,112 | $533,992 | $646,577 | $767,048 |
| One month of savings | $31,681 | $37,385 | $44,401 | $53,766 | $63,792 |
| Debt principal payment | $0 | $0 | $0 | $0 | $0 |
| Fixed asset additions | $3,204 | $0 | $0 | $3,250 | $0 |
| Total full costs (estimated) | $417,059 | $487,497 | $578,393 | $703,593 | $830,840 |
Capital structure indicators
| Liquidity info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Months of cash | 30.7 | 27.3 | 27.0 | 23.7 | 22.1 |
| Months of cash and investments | 30.7 | 27.3 | 27.0 | 23.7 | 22.1 |
| Months of estimated liquid unrestricted net assets | 29.0 | 25.3 | 25.3 | 22.3 | 18.1 |
| Balance sheet composition info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Cash | $972,134 | $1,021,303 | $1,199,839 | $1,275,844 | $1,411,149 |
| Investments | $0 | $0 | $0 | $0 | $0 |
| Receivables | $10,378 | $2,672 | $37,712 | $1,200 | $2,055 |
| Gross land, buildings, equipment (LBE) | $11,907 | $11,907 | $8,045 | $8,828 | $8,828 |
| Accumulated depreciation (as a % of LBE) | 57.1% | 69.6% | 77.9% | 58.7% | 76.2% |
| Liabilities (as a % of assets) | 0.5% | 0.4% | 1.0% | 6.4% | 9.3% |
| Unrestricted net assets | $924,289 | $951,099 | $1,126,059 | $1,201,506 | $1,157,733 |
| Temporarily restricted net assets | N/A | N/A | N/A | N/A | N/A |
| Permanently restricted net assets | N/A | N/A | N/A | N/A | N/A |
| Total restricted net assets | $73,645 | $80,000 | $0 | $0 | $0 |
| Total net assets | $997,934 | $1,031,099 | $1,235,059 | $1,289,006 | $1,350,733 |
Key data checks
| Key data checks info | 2019 | 2020 | 2021 | 2022 | 2023 |
|---|---|---|---|---|---|
| Material data errors | No | No | Yes | Yes | Yes |
Operations
The people, governance practices, and partners that make the organization tick.
Documents
President & CEO
Ms. Elena Zee
Driven by her passion to make a difference in the lives of future generation, Elena Zee joined ACEE in 2013 as President and CEO. Prior to this role, she had served on the ACEE board and worked in the global financial services industry for more than twenty years responsible for customer experience, business analytics, and financial planning.
As a daughter of parents who were both high school teachers, Elena is committed to empowering and preparing teachers to bring a world class education to their students. Elena has a Master’s Degree in Economics from Columbia University and Double Bachelor’s degrees in Economics and Math from Wellesley College. She is a graduate fellow of Lodestar American Express Leadership Academy Class VII, Valley Leadership Class 40 and Aspen Institute. Elena taught financial planning and economics at universities. Elena was selected as one of only three recipients nationwide for the Local Hero award from the Charles Schwab Foundation.
Number of employees
Source: IRS Form 990
Arizona Council On Economic Education
Officers, directors, trustees, and key employeesSOURCE: IRS Form 990
Compensation data
There are no highest paid employees recorded for this organization.
Arizona Council On Economic Education
Board of directorsas of 05/25/2023
Board of directors data
Ms. Julie Jakubek
Allstate Agency
Board leadership practices
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? Yes
Organizational demographics
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
Gender identity
Transgender Identity
Sexual orientation
Disability
No data
Equity strategies
Last updated: 01/11/2021GuideStar 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
- We review compensation data across the organization (and by staff levels) to identify disparities by race.
- We ask team members to identify racial disparities in their programs and / or portfolios.
- We analyze disaggregated data and root causes of race disparities that impact the organization's programs, portfolios, and the populations served.
- 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 disaggregate data by demographics, including race, in every policy and program measured.
- 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.
- We use a vetting process to identify vendors and partners that share our commitment to race equity.
- We have a promotion process that anticipates and mitigates implicit and explicit biases about people of color serving in leadership positions.
- We seek individuals from various race backgrounds for board and executive director/CEO positions within our organization.
- We have community representation at the board level, either on the board itself or through a community advisory board.
- We help senior leadership understand how to be inclusive leaders with learning approaches that emphasize reflection, iteration, and adaptability.
- We measure and then disaggregate job satisfaction and retention data by race, function, level, and/or team.
- We engage everyone, from the board to staff levels of the organization, in race equity work and ensure that individuals understand their roles in creating culture such that one’s race identity has no influence on how they fare within the organization.
Professional fundraisers
Fiscal year endingSOURCE: IRS Form 990 Schedule G
Solicitation activities
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