The Cee Report Winter 2016

THE CEE REPORT WINTER 2016

“Instilling financial literacy in children at a young age is one step closer to giving all children the opportunity to succeed. Teaching good personal finance habits early on will shape the next generation of America’s leaders across all disciplines.” Robert E. Moritz U.S. Chairman and Senior Partner, PwC 2015 Visionary Awards Honoree

UPCOMING EVENTS 2015 VISIONARY AWARDS: A RECORD-BREAKING YEAR!

VANTAGE POINT: Last October, CEE held its tenth annual 6TH ANNUAL WOMEN’S Visionary Awards dinner honoring leaders BREAKFAST who promote economic and financial literacy May 12, 2016 to create a better-informed society. New York, NY The 2015 honorees were: Ann Kaplan, Partner at Circle Wealth Management; Robert TH 16 ANNUAL E. Moritz, U.S. Chairman and Senior Partner at NATIONAL ECONOMICS PwC; Prof. Robert J. Shiller, Sterling Professor CHALLENGE FINALS of Economics, Yale University and 2013 Hosted by Nan J. Morrison, CEE President and CEO, with Honorees CNBC’s Steve Liesman Nobel Memorial Prize Winner in Economic Sciences; and Andrew Ross Sorkin, Founder Andrew Ross Sorkin, Steve Liesman (Emcee), Ann Kaplan, May 20–23, 2016 Prof. Robert J. Shiller, and Robert E. Moritz New York, NY of DealBook, Financial Columnist for The New York Times, and CNBC Co-Anchor of “Squawk TH 55 ANNUAL FINANCIAL Box.” LITERACY AND The Alfred P. Sloan Foundation Teaching ECONOMIC EDUCATION Champion Awards for excellence in promoting CONFERENCE economic education were presented to: October 5–8, 2016 Matthew Gherman, 11/12th Grade Teacher Phoenix, AZ of AP Economics, American History, and Global 11TH ANNUAL History at Edward R. Murrow High School, VISIONARY AWARDS Brooklyn, NY; Noah Lipman, 11/12th Grade October 26, 2016 Teacher of AP Macroeconomics, AP American Chancellor Carmen Fariña and Nan J. Morrison take a moment to speak with 7th Grade student, Camryn Syms, The Plaza Hotel, New York, NY Government and Politics, Law, and Economics who participated in the gala program at Long Branch High School, Long Branch, NJ; If you are interested in attending and Deborah Surian, 11/12th Grade Teacher this event. Platinum Sponsors: Circle Wealth or would like more information on of Economics, Syracuse University Project Management, George Lucas Family Foundation, events, please contact Tarnisha Smart at 212.730.6704 or Advance College Sociology, and IB Theory CEE’s Chairman of the Board, Barry Haimes, [email protected]. of Knowledge at Hauppauge High School, and PwC; Gold Sponsors: William Campbell Hauppauge, NY. (Chair Emeritus, Board of Trustees, Columbia The evening, a great success with University), E*Trade, HSBC, Moody’s, Peter CONTACT US over 300 guests in attendance, featured G. Peterson Foundation, State Farm, Verizon, a spirited fireside chat with the honorees and Wells Fargo; and Silver Sponsors: Charles Council for Economic Education moderated by Steve Liesman, CNBC Senior Schwab, Circle Financial Group, Edelman, nd 122 East 42 Street Economics Reporter. Please visit http:// FINRA, Ford Motor Credit Company, The Julis Suite 2600 www.councilforeconed.org/events/visionary- Family, Mindy Mount, UPS, and Zenbanx. New York, NY 10168 awards/photos-and-videos to see photos and Please join us for the 2016 Visionary Awards videos. dinner on Wednesday, October 26th at The www.councilforeconed.org The gala raised $716,000—a record. Plaza Hotel in New York City. To purchase a Teaching Opportunity ® www.facebook.com/ Special thanks to our Board Chair, Barry ticket, table sponsorship, or ad in our dinner councilforeconed Haimes for his $25,000 Challenge Grant, and program, please contact Tarnisha Smart, Senior to Honoree Ann Kaplan for her extraordinary Director of Development at 212-730-6704 or @council4econed outreach efforts on behalf of CEE. [email protected]. www.youtube.com/ We would also like to thank all of our EconomicEducation Sponsors and Benefactors who supported

CEE Report Winter2016_5fx.indd 1 1/26/16 11:19 AM IN THE STATES FULFILLING THE MISSION CEO CORNER FOCUS ON THE MISSISSIPPI COUNCIL ON Note from Nan ECONOMIC EDUCATION 2015 Accomplishments e enter another Presidential The Mississippi Council election season with one assur- on Economic Education ance—the main concern for our (MCEE) gives the state of nation’sW people is the economy: middle Mississippi something to brag about. Thanks class contraction; good jobs; national to the MS Department debt (their personal debt); and the sus- of Education, economics tainability of the social safety net. is a required course for All are complex issues. They require a high school graduation in working knowledge of what an economy Mississippi. Also, every is, how it functions, and how we can make high school student has good decisions with regard to it. We all access to financial literacy understand how a lack of knowledge can education via MS Treasurer Lynn Fitch’s initiative, Students from Madison Central High School and Ocean further frustrate an insecure electorate— Treasurer’s Education Springs High School face off during the MS Economics even a secure one. About Money (TEAM), of Challenge which is a qualifying round for the NEC Economic and personal financial which MCEE is a part. knowledge are the tools that can illu- MCEE’s mission is minate the issues. The Council was the to increase economic first non-profit educational organization and financial literacy in dedicated to bringing economic and Mississippi by providing personal finance education to grades resources and training to public and private K-12 K-12. We continue to be the first in school teachers, and every aspect of this endeavor: innovat- empowering students to ing, advocating, developing resources, create a more prosperous educating and providing thought lead- future for themselves and ership. Our 2015 accomplishments, Mississippi. highlighted in this issue, make that case. Last year, MCEE and As we move into the new year, we its affiliated College will continue to advocate, leveraging and University Centers Students from Bassfield High School made first and second provided professional place at the MS Finance Challenge the 2016 Survey of the States; to level development to 1,514 the playing field with the expansion of teachers. These teachers then for high school students. For the programs for low and moderate income provided instruction to 95,600 first time, in the fall of 2015 this students and their families; and to lever- K-12 students. Over 2,700 students program was offered as a pilot online age technology to meet teachers where participated in the National course. Offering this program online they are with what they need across the Economics Challenge (NEC) and the removes the barriers of travel and curriculum, with a particular emphasis MS Financial Literacy Challenge. scheduling, increasing accessibility on math. Sponsor dollars from Mississippi to Mississippi’s teachers. organizations allowed MCEE to Mississippi Economics Teacher We thank our generous supporters from award top performing students in of the Year, Angela Sanders, from 2015, and look forward to welcoming new these challenges $16,500 in post- Ocean Springs High School shared champions for financial and economic secondary scholarships. what MCEE means to teachers education to our list for 2016. What could be considered the and students: “When I was first most important program offered assigned to teach economics I was by MCEE is the Master Teacher of at a loss, like many teachers, my Economics (MTE) program. Teachers background was not strong in this cannot teach what they do not know, subject. MCEE provided not only making it imperative that MCEE reach content knowledge that I was sorely teachers statewide with the training lacking through its Master Teacher to properly teach economics. of Economics program, but also a During the year, 57 teachers host of fun and innovative activities participated in the MTE program. As to bring the subject to life for my Nan J. Morrison a result, students instructed by MTE students.” Nan J. Morrison graduates showed gains of 79% on President & CEO a Test of Economic Literacy normed

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CEE Report Winter2016_5fx.indd 2 1/26/16 11:19 AM FULFILLING THE MISSION

FOCUS ON THE MISSISSIPPI COUNCIL ON ECONOMIC EDUCATION 2015 Accomplishments

SERVED AS A CRUCIAL VOICE LEVERAGED TECHNOLOGY TO MEET AND INFLUENCER THE EVOLVING NEEDS OF TEACHERS

n Selected by the President’s Advisory Council on Financial n Welcomed more than 1.1 million unique visitors to Capability for Young Americans to convene an event EconEdLink and increased engagement with educators in New York City highlighting the need for financial as measured by pages visited (up 63%) and time on site literacy education, which featured then U.S. Secretary of (up 18%) Education Arne Duncan n Launched curriculum-agnostic personal finance exams, n Nan J. Morrison, President and CEO, demonstrated which are available for free on our Online Assessment thought leadership in the field: Center Students from Madison Central High School and Ocean • Represented K-12 education at TIAA-CREF’s invite- n Acquired more than 3,000 new teacher and 57,000 Springs High School face off during the MS Economics Challenge which is a qualifying round for the NEC only symposium “Engaging Hispanics in their Financial student registrations for the Online Assessment Center Wellbeing” n Expanded our first digital-only, multi-lesson resource— • Discussed how financial education can help break Math in the Real World—to 22 lessons, already widely the cycle of poverty at the National Association of used by math teachers Business Economics Annual Meeting n Implemented a certification program for Gen i Revolution— • Penned the foreword to the book Financial Literacy our free, online personal finance game—in partnership Education: Addressing Student, Business, and with Working in Support of Education (w!se) and rolled Government Needs out the 16th mission to the game; increased student registrations over 20% n Informed the development of the Consumer Financial Protection Bureau’s Advancing K-12 Financial Education: A Guide for Policymakers, which showcased CEE’s programs and resources EXTENDED OUR REACH BY n Advised NBC Universal and Telemundo on their financial EXPANDING SUCCESSFUL MODELS literacy initiative, Tu Dinero Es Tu Futuro, and participated Students from Bassfield High School made first and second AND PARTNERSHIPS place at the MS Finance Challenge in the kickoff n Trained 55,000 teachers in person nationwide, including n Hosted prominent economists through our Vantage Point nearly 3,000 educators through our New York-based for high school students. For the series, including Charles Calomiris, Esther George, Greg first time, in the fall of 2015 this Mankiw, Richard Sylla, and Mark Zandi, and honored National Center for Economic and Financial Education program was offered as a pilot online Nobel Laureate Robert Shiller at our Visionary Awards gala n Continued to receive high marks from educators on the course. Offering this program online quality of our programs, with 97% saying they would removes the barriers of travel and recommend them to a colleague scheduling, increasing accessibility n to Mississippi’s teachers. Welcomed more than 500 attendees from 38 states to our LEVELLED THE PLAYING-FIELD 54th Annual Financial Literacy and Economic Education Mississippi Economics Teacher BY REACHING LOW- AND MODERATE- of the Year, Angela Sanders, from INCOME STUDENTS Conference; six months after the last Conference, 100% Ocean Springs High School shared of survey respondents said they would recommend it what MCEE means to teachers n 63% of teachers reached through in-person professional to a colleague and 94% are still using information and and students: “When I was first development nationwide were from Title I schools resources gained at the Conference assigned to teach economics I was n n at a loss, like many teachers, my Kicked off a new partnership with Cristo Rey High Held another successful National Economics Challenge background was not strong in this Schools, whose students have family incomes under with more than 10,500 students competing nationwide subject. MCEE provided not only $30,000 per year (up 55% from 3 years ago); CNBC’s Senior Economics content knowledge that I was sorely n Expanded our successful Never Too Young K-5 After- Reporter Steve Liesman emceed the finals, which were lacking through its Master Teacher School Program to sites in California, Delaware, and covered live by CNBC and featured on PBS’s Nightly of Economics program, but also a New York Business Report host of fun and innovative activities n n Continued to show measurable impact: in a recent study to bring the subject to life for my Expanded our Program for Hispanic Students and Their Financial Fitness for Life students.” Families to sites in Arizona and New York City that used CEE’s award-winning curriculum, 4th and 5th graders’ scores improved 34% and knowledge gains were sustained up to a year later

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CEE Report Winter2016_5fx.indd 3 1/26/16 11:19 AM CEE EVENTS CEE ACTIVITIES

54TH ANNUAL FINANCIAL LITERACY AND ECONOMIC EDUCATION CONFERENCE

Last year’s Conference hosted by our affiliate, the Florida Council on Economic Education, was a great success with over The 2016 500 attending including K-12 teachers, CEE affiliates, industry Survey of the States thought-leaders, and partners. Over 225 K–12 teachers from 38 states attended, many on scholarships provided by CEE. will be released in There were 125 professional development sessions on late January. topics that included pedagogy and resources, curriculum To learn more, visit: strategy for schools/school districts, teaching strategies, http://bit.ly/1RWGS3d assessment and research, new programs, and best practices on economic and financial literacy geared for elementary, middle and high school. In addition, Robert P. Miles, the internationally acclaimed author and distinguished authority OVER 100 VIDEO ENTRIES FOR CEE’S on Warren Buffett and Berkshire Hathaway, addressed the group at the Opening Plenary Session. Watch the Conference Nan J. Morrison (center) with the national teacher award winners and Brian Page, Chair VIDEO CONTEST! of the Teacher’s Advisory Committee (2nd from left) highlights video at http://www.councilforeconed.org/events/ CEE asked K-12 students to submit a 60-second video cee-national-conference. response to the question “What should the President do to At the Teacher’s Awards Recognition Luncheon, CEE improve the economy?” honored three national educators in elementary, middle, and Taking advantage of CEE’s teacher reach and social media high school for excellence in economic and financial education influence, we asked the public to vote for their favorite video and with The John Morton Excellence in the Teaching of Economics also assembled a panel of economists to choose the best entry. Awards. The awards were presented to Shelina Warren of Farmington High School, from Connecticut, was the Economists’ Scoggins-May-Hall GT Center in Pine Bluff, Arkansas; Allen Choice Winner and Ozark Junior High School from Arkansas won Ruliffson of J. Frank Hillyard Middle School in Broadway, the Viewers’ Choice. The two winning schools won gift cards for Virginia; and Brian Held of Loyola High School of Los Angeles classroom resources. in Los Angeles, California. The awardees also shared best practices with their colleagues by co-facilitating a session. The Conference was made possible through the generous support of our Presenting Sponsor, Wells Fargo, and through

additional support from Bank of America, Discover, Federal Teachers actively engaging in a conference session Reserve System, Ally, Higher One and Vulcan Productions.

Maddy Halbach, Academy of Finance Instructor, Applications and Research Laboratory, Howard County, MD

We hope you will be able to join us for our 55th Annual Conference in Phoenix, Arizona, October 5-8, 2016.

Ozark Junior High School, AR

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CEE Report Winter2016_5fx.indd 4 1/26/16 11:19 AM CEE EVENTS CEE ACTIVITIES

54TH ANNUAL FINANCIAL LITERACY AND ECONOMIC AN INNOVATIVE DIGITAL ASSESSMENT EDUCATION CONFERENCE TOOL TO TRACK STUDENTS’ PROGRESS

Last year’s Conference hosted by our affiliate, the Florida Council on Economic Education, was a great success with over The 2016 500 attending including K-12 teachers, CEE affiliates, industry Survey of the States thought-leaders, and partners. Over 225 K–12 teachers from 38 states attended, many on scholarships provided by CEE. will be released in There were 125 professional development sessions on late January. topics that included pedagogy and resources, curriculum To learn more, visit: strategy for schools/school districts, teaching strategies, http://bit.ly/1RWGS3d assessment and research, new programs, and best practices on economic and financial literacy geared for elementary, middle and high school. In addition, Robert P. Miles, the internationally acclaimed author and distinguished authority OVER 100 VIDEO ENTRIES FOR CEE’S In 2015, CEE created a suite of personal finance assessments on Warren Buffett and Berkshire Hathaway, addressed the Nan J. Morrison (center) with the national teacher award winners and Brian Page, Chair for teachers to assess students’ understanding of basic personal group at the Opening Plenary Session. Watch the Conference VIDEO CONTEST! of the Teacher’s Advisory Committee (2nd from left) finance concepts and to compare the results with other students highlights video at http://www.councilforeconed.org/events/ CEE asked K-12 students to submit a 60-second video across the nation. Each of the three tests is nationally- cee-national-conference. response to the question “What should the President do to normed and is modeled after other highly regarded CEE testing At the Teacher’s Awards Recognition Luncheon, CEE improve the economy?” instruments for K-12 economic content. honored three national educators in elementary, middle, and Taking advantage of CEE’s teacher reach and social media high school for excellence in economic and financial education influence, we asked the public to vote for their favorite video and with The John Morton Excellence in the Teaching of Economics also assembled a panel of economists to choose the best entry. INTEGRATING MATH AND REAL WORLD Awards. The awards were presented to Shelina Warren of Farmington High School, from Connecticut, was the Economists’ Scoggins-May-Hall GT Center in Pine Bluff, Arkansas; Allen Choice Winner and Ozark Junior High School from Arkansas won CONCEPTS TO HOOK KIDS Ruliffson of J. Frank Hillyard Middle School in Broadway, the Viewers’ Choice. The two winning schools won gift cards for Virginia; and Brian Held of Loyola High School of Los Angeles classroom resources. in Los Angeles, California. The awardees also shared best practices with their colleagues by co-facilitating a session. The Conference was made possible through the generous support of our Presenting Sponsor, Wells Fargo, and through additional support from Bank of America, Discover, Federal Teachers actively engaging in a conference session Reserve System, Ally, Higher One and Vulcan Productions.

A teacher’s experience at the conference: “The CEE conference is valuable on so many levels. It provides an opportunity for teachers, like myself, to reflect on their current practice and contribution to the fields of economics, financial literacy, and education. It gives teachers an opportunity to organize collaborative projects and grow partnerships. Teachers who teach economics and financial literacy subjects are usually singletons in the school so Many economics and personal finance concepts overlap with collaboration and sharing of best practices usually only occur in this type of setting. I really look forward to next year’s.” Farmington High School, CT math curriculum, but economics and personal finance teachers are not trained to teach complex calculations and formulas, Maddy Halbach, Academy of Finance Instructor, and math teachers may not understand the basics of personal Applications and Research Laboratory, Howard County, MD finance. A new CEE online curriculum, Math in the Real World, consists of 22 interdisciplinary lessons that teach critical personal finance concepts in the context of math lessons. All Math in the Real World online lessons are aligned with the Common Core State Standards (CCSS) in math, the K-12 We hope you will be able to join us for our National Standards for Financial Literacy, and the National 55th Annual Conference in Phoenix, Arizona, October 5-8, 2016. Content Standards in Economics. Math in the Real World lessons are available at http://www.econedlink.org/mitrw/1.

Ozark Junior High School, AR

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CEE Report Winter2016_5fx.indd 5 1/26/16 11:19 AM 2015 DONOR HONOR ROLL 2015 DONOR HONOR ROLL

We would like to thank our donors who gave their support in 2015. Best Choice Staffing Mark Biderman Aimee Brown Stephen G. Buckles Champion ($500,000+) Robert Duboff David Guarino Chris Bujara Connie Duckworth Michael Guarnieri Daniels Fund Deidre H. Campbell Cindy Golub Jenny Van Leeuwen Harrington State Farm Insurance Companies Mary Ann Casati Haimes Family Foundation John Herrmann Peter Chaffetz Champion ($250,000 to $499,999) Edwin B. Hathaway Willard I. Hill, Jr. Abby Joseph Cohen Higher One, Inc. Jerry Hong Wells Fargo Bank N.A. Mark DiRienz Institutional Investor Inc. Elise Hubsher* Susan Doty Beth Kobliner Eli Jacobs Champion ($100,000 – $249,999) Lisa Emsbo-Mattingly Iridian Asset Management The Jacquelyn & Gregory Zehner Foundation Alfred P. Sloan Foundation Pepi Ertag Mestel & Company Nancy S. Jennings Bank of America Foundation Karen Lisa Finerman Cathy E. Minehan Ann Kaplan Fidelity Investments (FMR) Elizabeth Fippinger Nan J. Morrison John A. Kent Barry G. Haimes Michael Foley Melinda J. Mount Jeffrey A. Klein Verizon Foundation Benjamin M. Friedman, Ph.D. John Overdeck Lewis Kruger Voya Foundation Jennifer Gerold PRIMECAP Management Company Angelo Gordon & Co, L.P. Rob Gittings Peter R. & Cynthia K. Kellogg Foundation LSF Fund President ($50,000 to $99,999) Glad to Be Here Foundation, Inc. John J. Siegfried, Ph.D. Jeffrey M. Lacker ACE Charitable Foundation Bonnie Glasky Gary H. Stern Sara Link Adolph Coors Foundation Diane Glossman The Travelers Companies, Inc. Michael A. MacDowell Circle Wealth Management Robert Gordon William Wilby David Mack The George Lucas Family Foundation Cynthia Hallenbeck Lateef Investment Management HSBC Bank USA, N.A. David L. Harvey Saver ($1,000 to $4,999) Alex Matturri Moody’s Corporation The Hayden Family Foundation Maverick Capital Charities PwC Anonymous (2) Nancy Herbert Marcia Kramer Mayer The UPS Foundation BTQ Financial Catherine Kinney Charles F. McClafferty Barbara Bantivoglio Colleen Kipfstuhl McGraw Hill Financial Educator ($25,000 to $49,999) Barbara and Donald Tober Foundation Don Krueger Doris Powers Meister Bank of America Elizabeth Basden Marguerite Lederberg Mizuho Securities USA Inc Scott Booth Michael Bernstein Lawrence Leibowitz Joe Monk Discover Jewell Bickford David P. Levin, Esq. The Morris and Helen Messing Foundation E*Trade Financial Corporation David and Eunice Bigelow Xiaoyu Liu National Association for Business Economics The Jerome V. Bruni Foundation Alan S. Blinder Annamaria Lusardi Robin Neustein Peter G. Peterson Foundation David Blitzer Greg McCall Lori Ordover The William V. Campbell Foundation Diane Britz Deborah McLean Lois Perelson-Gross Zenbanx Harold Burson Merus Capital Partners Claudia Zeitz Poster CEE-Japan The Miami Foundation Gary Price Scholar ($10,000 to $24,999) The Calvin K. Kazanjian Economics Foundation Jason Morganroth Capital One Foundation Rosemary Ripley 1st Financial Bank USA Neil Olson The Chazen Foundation Charlie Rose Ally Sue Owens Joan Chevalier Gerald Rosenfeld Charles Schwab & Co., Inc. Judith J. Plows John Chrin Julia and Joshua Ruch Robert Alan Chlebowski Bonnie Potter Mayree Clark Sharon T. Sager Edelman Sura Alammar Rathore Marilyn Louise Cohen Pam B. Schafler Nancy Ertag-Brand Linda Rhodes Martin and Michele Cohen S. Buford Scott Robert Fauber* Ridgeworth Investments Coho Partners, Ltd. Manish C. Shah FINRA Neil C. Rifkind Joyce B. Cowin Marc Sheinbaum Ford Motor Credit Company David I. Robbins Christine Cronin and Mark Hurst Marc Sulam Golub Capital LLC Peter Rugg The Suzanne Nora Johnson Mary Ann Johnson Daiwa Securities America, Inc. Seashore Strider Event Production & David G. Johnson Foundation Mitchell R. Julis Alison Davis Bernard Silverstone Susan Tanaka Samantha Kappagoda and David K.A. Mordecai Debbie DeCotis Donald and Beth Siskind Davia B. Temin Arkadi Kuhlmann The Dickson Foundation, Inc. The Sister Fund Thornburg Investment Management R. Madison Murphy Eric Dobkin John A. Sprague Kay Torshen David W. Nelms Yildiz Ferri James H. Stone The Towbes Foundation Kim Leslie Shafer Joseph S. Fichera Richard Sylla Trio Foundation Muriel F. Siebert Foundation Andew Fippinger Dune D. Thorne Andrew M. Wallach The Stiles-Nicholson Foundation Mark Fitzsimmons John Toriello Rita Warner Kenneth L. Thome Blaine V. Fogg Robert Treuhold Robin L. Weiss Vulcan Productions Penny Foley Kevin Tunney Wells Fargo Advisors The Walton Family Foundation Fortress Investment Group Hal R. Varian The William and Jo Ellen Odom Fund Lulu C. Wang Citadel Foundation Shellwyn Weston William and Mildred Lasdon Foundation Marilyn Friedman and Tom Block Wien Family Fund David S. Wilson Investor ($5,000 to $9,999) Nomi Ghez Amy K Wilfert Goldman Sachs Gives Carolyn Wollen American Bankers Association Russell Glass Sally Wood Charlotte B. Beyer Friend (Up to $499) Paula L. Goldberg Chris Byke Anonymous (1) The Gordon and Llura Gund Foundation Supporter ($500 to $999) Chadick Ellig Orren Alperstein James Grant Anonymous (1) Columbia University in the City of New York Amazon Smile Holly Hess Groos Apple Bank Owen D. Ambur The Guardian Life Insurance Company of America Andrew Axelrod

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CEE Report Winter2016_5fx.indd 6 1/26/16 11:19 AM 2015 DONOR HONOR ROLL 2015 DONOR HONOR ROLL

We would like to thank our donors who gave their support in 2015. Best Choice Staffing Alexis Andrews Dane A. Lund Mark Biderman Jonathan Aronoff Brigitte C. Madrian Aimee Brown Patricia C. and Thomas C. Barron Jeff Margolis Stephen G. Buckles Madelyn R Billig James Marino David Guarino Chris Bujara Christopher Bothur Margaret Mastrianni Michael Guarnieri Deidre H. Campbell Charlotte Bourhis Michelle McCloskey Jenny Van Leeuwen Harrington Mary Ann Casati George H. Boyd III Deborah McGinn John Herrmann Peter Chaffetz Amy and Marshall Brinn Lynn Mestel Willard I. Hill, Jr. Abby Joseph Cohen Angela Brock-Kyle Morgan Stanley Jerry Hong Mark DiRienz Caren Byrd Emily Kolinski Morris Elise Hubsher* Susan Doty Chris Caltabiano Lila R. Morrison Eli Jacobs Lisa Emsbo-Mattingly John Campbell Shirley Mueller The Jacquelyn & Gregory Zehner Foundation Pepi Ertag Donna Castillo Cherrie Nanninga Nancy S. Jennings Karen Lisa Finerman Rosanna Castillo Zachary Nussbaum Ann Kaplan Elizabeth Fippinger Lee A. Clair Louis and Catherine Paglia John A. Kent Michael Foley Robert L. Clinton Gwen Pajotte Jeffrey A. Klein Benjamin M. Friedman, Ph.D. Charles Currie John Palacio Lewis Kruger Jennifer Gerold John Darlington Ruth Perelson Angelo Gordon & Co, L.P. Rob Gittings Chap James J. Day James Poterba LSF Fund Glad to Be Here Foundation, Inc. Fisher Derderian Allison Powell Jeffrey M. Lacker Bonnie Glasky Jesse Deutch Ken Powell Sara Link Diane Glossman Deutsche Bank Americas Foundation J. Diane Redd Michael A. MacDowell Robert Gordon Joe DiFiglia, Jr. Ron Reede David Mack Cynthia Hallenbeck Joseph DiFiglia Mary Lynn Reiser Lateef Investment Management David L. Harvey James Dick Stewart R. Reiter Alex Matturri The Hayden Family Foundation Paul Dietche Helen Roberts Maverick Capital Charities Nancy Herbert Jeff Dobrinsky Diane Rodriguez Marcia Kramer Mayer Catherine Kinney Jonathan Dodge Mitch Roschelle Charles F. McClafferty Colleen Kipfstuhl John Edwards June Levin Roth McGraw Hill Financial Don Krueger Sharon Epperson Marsha P. Roth Doris Powers Meister Marguerite Lederberg Jill and Jeff Fein Florence Rubenfeld Mizuho Securities USA Inc Lawrence Leibowitz The Flagg Fund Matthew Russman Joe Monk David P. Levin, Esq. Charlotte K. Frank Ryan Labs, Inc. The Morris and Helen Messing Foundation Xiaoyu Liu Robert and Jane Friedman David G. Samuels National Association for Business Economics Annamaria Lusardi Nels Fugelsang Ray Scheppach Robin Neustein Greg McCall Elfi Funk Lisa Schirf Lori Ordover Deborah McLean Peter A. Furman Kate Schmidt Lois Perelson-Gross Merus Capital Partners Claire L. Gaudiani Alicia Sellitti Claudia Zeitz Poster The Miami Foundation Stephanie Gisriel Gaurav Seth Gary Price Jason Morganroth Kevin Gotchet Anderson Silva Rosemary Ripley Neil Olson Joan Shapiro Green Brian Sloboda Charlie Rose Sue Owens Michael W. Green Tarnisha Smart-Santiago Gerald Rosenfeld Judith J. Plows Amanda Gudis Eliot Snider Julia and Joshua Ruch Bonnie Potter Martin Halbfinger Sysounthone Somboun Sharon T. Sager Sura Alammar Rathore Jean D. Hamilton Paul Stanley Pam B. Schafler Linda Rhodes Christopher Harrison Frederic Stearns, MD S. Buford Scott Ridgeworth Investments Ted Hartsoe Ellen Steiner Dolgin Manish C. Shah Neil C. Rifkind Elizabeth Healy Kathleen Stephanson Marc Sheinbaum David I. Robbins John E Herzog Jeanne-Mey Sun Marc Sulam Peter Rugg Jeffry Hoffman Terry Swack The Suzanne Nora Johnson Seashore Strider Event Production Kevin Hogan Jeffrey Tannenbaum & David G. Johnson Foundation Bernard Silverstone Vicki Holleman Keiko Tashiro Susan Tanaka Donald and Beth Siskind MacPherson Hughes-Cromwick Kenneth J. Taubes Davia B. Temin The Sister Fund Anne Infeld Daniel Thompson Thornburg Investment Management John A. Sprague Kwon-Yong Jin Kathy Trager Kay Torshen James H. Stone Susan Kahaner Sean Tubridy The Towbes Foundation Richard Sylla Alan R. Kahn Cynthia King Vance Trio Foundation Dune D. Thorne Mark Kamstra Kathy W. Vanek Andrew M. Wallach John Toriello Deborah Kaye Wayne J. Vaughan Rita Warner Robert Treuhold Nancy and Gary Duberstein Kennan Luis M. Viceira Robin L. Weiss Kevin Tunney Kristin Klein Eleanor Wagner Wells Fargo Advisors Hal R. Varian Jacquie Kouyoumjian Alexandra Walker The William and Jo Ellen Odom Fund Shellwyn Weston Lisa Kramer Kelli Walton William and Mildred Lasdon Foundation Wien Family Fund Jonathan Lamb David A. Weisbrod David S. Wilson Amy K Wilfert Daphne Layton Ed Wolfe Carolyn Wollen Joon-Suk Lee Paul T. Woodling Sally Wood Friend (Up to $499) Julian Leone Sandra K. Wright Cathy Levy DeVon Yoho Supporter ($500 to $999) Anonymous (1) Orren Alperstein Dan Levy Douglas Young Anonymous (1) Amazon Smile Felicia Lipson Jason W. Young Apple Bank Owen D. Ambur Deborah Lucas Andrew Axelrod

* Special thanks to our donors who acquired a matching gift from their company.

THE CEE REPORT | WINTER 2016 THE CEE REPORT | WINTER 2016 PAGE 7

CEE Report Winter2016_5fx.indd 7 1/26/16 11:19 AM 2015 DONOR HONOR ROLL

We would also like to thank our Affiliates who gave their support in 2015.

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BOARD OF DIRECTORS

OFFICERS Benjamin M. Friedman New Board Members William Joseph Maier Professor of Political Barry Haimes, Chairman Economy Managing Partner Department of Economics Sage Asset Management Susan Doty is the Harvard University founding director of the Elizabeth Basden, Secretary Willard Hill, Jr. Principal Center for Economic Law Office of Elizabeth Basden, PLLC Mary Ann Johnson Education and Financial President Holly Hess Groos, Treasurer Johnson Custom Strategies, Inc. Literacy at The University CFO of Texas at Tyler, where AOL Samantha Kappagoda Chief Economist & Co-Founder she also serves on the Nan J. Morrison, President & CEO Risk Economics, Inc. Council for Economic Education economics faculty as a senior lecturer and Emily Kolinski Morris undergraduate economics advisor. DIRECTORS EMERITI Chief Economist Susan completed her undergraduate work Ford Motor Company Harold Burson, Chairman Emeritus in biology at Wheaton College in Norton, Founder Chairman (retired) Arkadi Kuhlmann Massachusetts and has an MBA from Bryant Burson-Marsteller Founder and CEO Zenbanx, Inc. University in Smithfield, Rhode Island. She John T. Dillon, Chairman Emeritus spent a first career in the biotechnology Chairman & CEO (retired) Jeffrey M. Lacker International Paper Company President industry, where she was a champion of Federal Reserve Bank of Richmond innovation and entrepreneurship. Susan has Harold McGraw III, Chairman Emeritus Chairman, President & CEO Annamaria Lusardi been teaching economics for over 20 years McGraw Hill Financial, Inc. Denit Trust Distinguished Scholar in and is in her 6th year at UT Tyler. She serves Economics and Accountancy R. Madison Murphy The George Washington University on the executive committee of the National Chairman (retired) School of Business Association of Economic Educators (NAEE). Murphy Oil Corporation Director, Financial Literacy Center William E. Odom, Chairman Emeritus Michael A. MacDowell Lowell Robinson is a Chairman (retired) Managing Director Ford Motor Credit Company The Calvin K. Kazanjian Economics Foundation, Inc. highly regarded executive Cathy E. Minehan with thirty years of senior BOARD OF DIRECTORS Dean of the School of Management of Simmons College global strategic, financial, Scott Booth Former President M&A, operational and Managing Partner Federal Reserve Bank of Boston governance experience at Eastern Advisors LLC Lowell W. Robinson both Fortune 100 consumer Deidre Campbell Board of Directors Global Sector Chair, Financial Services Higher One and retail corporations and diversified financial services (Kraft, The Jones Group and Edelman Kim Leslie Shafer Citigroup) and high growth public companies Robert Alan Chlebowski John J. Siegfried Executive Vice President in marketing services/media, technology and Professor Emeritus Wells Fargo Vanderbilt University digital (Valassis/Advo, HotJobs/YAHOO! and Susan Doty Gary Stern MIVA) where he was CFO/CAO. Director of the Center for Economic Education Former President (retired) and Financial Literacy at He earned an MBA in Finance from Harvard Federal Reserve Bank of Minneapolis The University of Texas at Tyler Business School and a BA in Economics from Kenneth L. Thome The University of Wisconsin. He was on Robert S. Duboff Senior Vice President (retired) CEO & Founder the Board of Directors of the University of General Mills, Inc. HawkPartners Wisconsin School of Business (2006-2010) Nancy Ertag-Brand and is currently a member of their Economics Director of Finance & Operations Department Advisory Board and a member Vital Projects Fund/Charina Endowment Fund of The Economic Club of New York. He is Robert Fauber currently on the boards of EVINE Live, Higher Managing Director for the Global Commercial Group Moody’s Corporation One, The Smithsonian Libraries and The Metropolitan Opera Guild.

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