THE CEE REPORT WINTER 2019 “A solid economics and personal-finance education is critical if we want future generations that can be personally secure and can evaluate policy options that impact the entire country’s future. The sooner we start engaging students, the better off we will be, as individuals and as a society.” – Rebecca Patterson Chief Investment Officer, Bessemer Trust 2018 Visionary Awards Honoree

2018 VISIONARY AWARDS UPCOMING EVENTS

VANTAGE POINT: 9TH ANNUAL WOMEN’S BREAKFAST April 2019 Harvard Club, New York, NY 9TH ANNUAL NATIONAL PERSONAL FINANCE CHALLENGE FINALS May 9-10, 2019 Lincoln, NE 19TH ANNUAL NATIONAL ECONOMICS CHALLENGE FINALS May 18-20, 2019 New York, NY 58TH ANNUAL FINANCIAL LITERACY AND ECONOMIC EDUCATION CONFERENCE October 4-5, 2019 Los Angeles, CA Peter Blair Henry, Honorable , Nan J. Morrison, Rebecca Patterson, and Steve Liesman

VISIONARY AWARDS Last October, CEE held its Annual Steve Liesman, CNBC Senior Economics BENEFIT DINNER Visionary Awards benefit dinner at The Reporter, hosted. During the dinner, we October 23, 2019 Plaza Hotel, New York, NY Plaza Hotel in New York honoring: The showed the best tweets out of close to Honorable Lael Brainard, Member, Board 4,000 entries from our student contest, If you are interested in attending or of Governors of the “What Economic Advice Would You Give would like more information on events, System; Peter Blair Henry, W.R. Berkley to POTUS?” (See some of the tweets from please contact Tarnisha Smart at 212.730.6704 or Professor of Economics and Finance, the students on page 4) Dean Emeritus Leonard N. Stern School [email protected]. The evening was a great success raising of Business, New York University; and over $600,000. These funds provide Rebecca Patterson, Chief Investment students with the knowledge and skills CONTACT US Officer, Bessemer Trust. that will help them to make better Council for Economic Education Three students gave inspiring decisions for themselves, their families 122 East 42nd Street, Suite 2600 introductions for their teachers as they and their communities. This knowledge New York, NY 10168 presented The Alfred P. Sloan Foundation shows them a pathway to economic Teaching Champion Awards. Receiving stability and upward mobility and perhaps www.councilforeconed.org the awards were David Edelman, Union even to making wise decisions at the Teaching Opportunity ® www.facebook.com/ Square Academy for Health Science voting booth, a benefit important to us all. councilforeconed High School in NYC; Ellen Schweitzer, Stuyvesant High School in NYC; and @council4econed Timothy Monahan, Ridgewood High www.youtube.com/ EconomicEducation School in New Jersey.

CEE Report_Winter2019_5fxgrx.indd 1 1/31/19 3:10 PM EVENTS FULFILLING THE MISSION CEO CORNER 57TH ANNUAL FINANCIAL LITERACY AND In 2018, CEE made significant strides in carrying out our strategic goals and fulfilling our larger mission. Note from Nan ECONOMIC EDUCATION CONFERENCE Here are some highlights: As CEO, I owe it to you, our supporters, Last October, over 500 educators and industry thought-leaders from to ensure that our mission and how we across the country attended CEE’s 57th Annual Financial Literacy implement it remains relevant. Recent and Economic Education Conference. Attendees participated in a events say a big yes to both. variety of sessions ranging from financial education for girls to using The government shutdown (35 days) has podcasts for personal finance instruction. been another reason to reflect on the stories and challenges of people living paycheck to paycheck. These stories Guest Speakers are the reality highlighted in the Federal Reserve’s Report on the Economic Well- KEYNOTE TEACHERS LUNCHEON Being of U.S. Households in 2017 which stated that “40% of adults said that if faced with a $400 unexpected expense, they would either not be able to pay it or would do so by selling something or borrowing money.” They also remind us that our mission, even at 70 years, is relevant and enduring: that we need to start to educate our kids early, while they are still in school, so that they can meet Mark Zandi Raphael Bostic their goals and be prepared for what life Chief Economist President and CEO might bring. Moody’s Analytics of Atlanta I am pleased to say that with our merger this year with Invest in Girls (IIG) and Special thanks to our sponsors: Lead Sponsor Wells Fargo; Platinum our continued emphasis on engaging Sponsor Moody’s Foundation; Gold Sponsors Bank of America and more girls in the National Economics Fidelity Investments; Teacher Champion Sponsor Ally; Teacher Challenge (increasing to about 30% over Leader Sponsor Discover; and Teachers’ Breakfast Sponsor Assurant. the last 2 years), we are also doing our part to stoke the pipeline of capable young women prepared to make better “I just wanted to thank the Council for Economic Education for decisions for themselves, their families, their communities, and to see themselves the wonderful experience. I learned so much at the Conference in careers in finance and economics. A and enjoyed meeting teachers from across the country. I am recent in article in The New York Times looking forward to implementing some of the things I learned and reminds us of the dearth of women in the economics profession. This article also continuing to learn even more.” serves as a reminder that whatever our – Danielle DiCuio professions, leaders are responsible for Kindergarten Teacher creating appropriate cultural norms in Bronxville, NY their organizations. Thanks again to you, our generous supporters, for helping us to invest in and expand our programs and to reach all of LEAVE A LEGACY OF our kids. LEARNING

Support CEE to continue making economics and personal Nan J. Morrison finance a priority in our schools. Nan J. Morrison By making a planned gift today, you will make a difference in President & CEO the lives of future generations. Learn more: http://councilforeconed.org/planned-giving

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CEE Report_Winter2019_5fxgrx.indd 2 1/31/19 3:10 PM FULFILLING THE MISSION

57TH ANNUAL FINANCIAL LITERACY AND In 2018, CEE made significant strides in carrying out our strategic goals and fulfilling our larger mission. ECONOMIC EDUCATION CONFERENCE Here are some highlights:

Last October, over 500 educators and industry thought-leaders from MEET THE TEACHERS WHERE THEY ARE CREATED VISIBILITY FOR OUR CAUSE across the country attended CEE’s 57th Annual Financial Literacy n and Economic Education Conference. Attendees participated in a WITH WHAT THEY NEED Received close to 4,000 submissions from students n Upgraded CEE’s educator website EconEdLink (EEL) all over the United States for CEE’s national student variety of sessions ranging from financial education for girls to using contest asking: “What economic advice would you podcasts for personal finance instruction. to best serve the resource needs of 21st century teachers – sessions per user increased by 10% and give to POTUS?” The students addressed topics the average session duration increased by 12% since such as healthcare, immigration, food, education and relaunch infrastructure n Added 100 new or revised teacher resources to n Garnered over 400 press mentions from the launch of EconEdLink, including math, personal finance, history CEE’s 2018 Survey of the States and economics lessons, interactive simulations, and n Generated 250 national media mentions during professional development webinars and videos Financial Literacy Month n Held a highly successful 57th Annual Financial Literacy and Economic Education Conference with THOUGHT LEADERSHIP nearly 500 attendees, featuring speakers Raphael n CEO and President Nan J. Morrison spoke at South Bostic, President & CEO, Federal Reserve Bank of by Southwest® SXSW EDU® on the panel Higher Atlanta; and Mark Zandi, Chief Economist, Moody’s Education as the Key to Local Economic Growth Analytics n  n Hosted esteemed economists as speakers in our Recognized three outstanding teachers from across Vantage Point Series, including Leonard E. Burman, the country with the “John Morton Excellence in the Co-Founder, Tax Policy Center, Urban Institute and Teaching of Economics” awards Brookings Institution and Volcker Chair in Behavioral Economics, Maxwell School of Syracuse University; SCALED AND ENHANCED KEY INITIATIVES Christine Lagarde, Managing Director, International Special thanks to our sponsors: Lead Sponsor Wells Fargo; Platinum n Grew our new Family Financial Literacy Nights Monetary Fund; and Loretta J. Mester, President & Sponsor Moody’s Foundation; Gold Sponsors Bank of America and program to five states, reaching 355 children and their CEO, Federal Reserve Bank of Cleveland Fidelity Investments; Teacher Champion Sponsor Ally; Teacher families n CEE’s work was featured in The Caring Economy: How Leader Sponsor Discover; and Teachers’ Breakfast Sponsor Assurant. n Drove the National Economics Challenge (NEC) to a to Win With Corporate Social Responsibility by Toby record year, with over 11,000 participants from the Usnik U.S. and 1,000 from China; 64 students from China n Launched the 2018 Survey of the States in Washington, participated in the NEC International Round in NYC. D.C. featuring keynote speaker Rob Nichols, President The event was featured live on CNBC’s Power Lunch and CEO, American Bankers Association and with and on CNBC’s Nightly Business Report with Steve panelists Jeremy Anderson, President, Education Liesman, who also emceed the event Commission of the States; Jason Botel, Principal n Grew the National Personal Finance Challenge by Deputy Assistant Secretary for Elementary and 10% to over 16,000 participants Secondary Education, U.S. Department of Education; Dr. Annamaria Lusardi, Denit Trust Endowed Chair of n Launched our partnership with Invest in Girls (IIG) to Economics and Accountancy, The George Washington scale their highly successful program University School of Business; Louisa Quittman, Director, Financial Security, U.S. Department of the EXPANDED RELATIONSHIPS IN NYC Treasury; and Alayna Van Tassel, Massachusetts Deputy Treasurer n Expanded our reach to over 3,600 educators (3,200 via webinar and 400 via in-person workshops) n Hosted and moderated a congressional briefing on the state of financial literacy with more than 80 n Doubled the number of Master Teachers in attendance and featuring speakers: Dr. Maddy n Launched an Economics Boot Camp, a three-day Halbach, Academy of Finance Instructor, Howard immersion program for teachers new to high school County Public Schools (MD); Melissa Lopez, Director, economics Region One GEAR UP (TX); Rick Metters, Vice n Partnered with The Mayor’s Fund to Advance New President, RI Regional Public Affairs & Corporate York City and the NYC Department of Education to Community Relations, Fidelity Investments; and support Career and Technical Education teachers Phil Schuman, Senior Director of Financial Literacy, across New York State Indiana University n Collaborated with the Board of Cooperative Educational Services (BOCES) and SCO Family of Services to work with individuals transitioning out of foster care

THE CEE REPORT | WINTER 2019 THE CEE REPORT | WINTER 2019 PAGE 3

CEE Report_Winter2019_5fxgrx.indd 3 1/31/19 3:10 PM EVENTS PROGRAMS

SAVE THE DATE 2019 VISIONARY AWARDS BENEFIT DINNER HONORING Rodney O. Martin, Jr. Karl A. Roessner Chairman and CEO, Voya Financial Chief Executive Officer, E*TRADE Financial Beth Mooney Chairman and CEO, KeyBank Former Chair of the Board of Governors of the Federal Reserve System

Wednesday, October 23, 2019 6:15 PM Cocktail Reception | 7:00 PM Dinner and Program The Plaza Hotel Fifth Avenue at Central Park South, New York, NY

For more information, please contact Tarnisha Smart, Senior Director of Development, at 212-730-6704 or [email protected]

A STUDENT WRITING CONTEST We received close to 4,000 submissions from students all over WHAT ECONOMIC the U.S. The students addressed an array of topics that touched on current events and areas of personal concern to them, their ADVICE WOULD YOU families and the communities they live in. Topics included GIVE TO POTUS? healthcare, immigration, food, education, and infrastructure.

Reagan | 4TH GRADE Mother Teresa Catholic Elementary School, Liberty Township, OH You should make more schools and places that poor people can afford. If they can get an education and have a healthy life full of good choices that are available to them, it will make the country as a whole better.

Parker | 5TH GRADE Bowen Elementary Mr. President, please work on balancing the budget because I don’t want to pay the debt when I’m older. Please fix social security so it will be there when I retire. Also, work on fixing our broken roads and bridges. Finally, continue cleaning up crime in our cities. Thank you Mr. President.

Annelisa | GRADES 9-12 WINNER: 12th Grade, Richland Northeast High School, Columbia, SC In order to rein in what many economists label as overheating economy, I would recommend to the President enacting contradictory demand-side fiscal policy by raising taxes. An increase in taxes would reduce disposable income for consumers, thus decreasing consumption and shifting the demand curve PAGE 4 leftward, closing the expansionary gap. THE CEE REPORT | WINTER 2019 THE CEE REPORT | WINTER 2019

CEE Report_Winter2019_5fxgrx.indd 4 1/31/19 3:10 PM PROGRAMS

SAVE THE DATE 2019 VISIONARY AWARDS BENEFIT DINNER HONORING

IIG TO MERGE WITH CEE

Invest in Girls’ mission is to usher in the next generation of financially literate Wednesday, October 23, 2019 girls, and to increase the number of 6:15 PM Cocktail Reception | 7:00 PM Dinner and Program girls interested in careers in finance The Plaza Hotel and financial services. Our goal is to Fifth Avenue at Central Park South, New York, NY change the way girls relate to money by equipping them with tools that allow For more information, please contact Tarnisha Smart, Senior Director of Development, them greater access to strong financial at 212-730-6704 or [email protected] futures and rewarding careers. IIG uses a three-tiered model to introduce girls to the language of personal finance and investing to build the confidence and competence necessary for them to lead fruitful lives.

WHO AND WHERE WE SERVE: Currently IIG delivers workshops to young women in grades 10-12 in 30 schools across six states: Massachusetts, New York, Connecticut, Delaware, Pennsylvania, and Maryland. We are working together to expand to at least 15 states in three years.

HOW IIG AND CEE WILL WORK TOGETHER: IIG will leverage CEE’s national network of affiliates to reach more girls in more schools in more states.

Parker | 5TH GRADE HOW YOU CAN HELP Bowen Elementary n Host an Industry Trip at your company. Every spring, IIG participants visit successful companies to learn Mr. President, please work on balancing the budget because I don’t want to about a variety of career paths in finance. pay the debt when I’m older. Please fix social security so it will be there when I retire. Also, work on fixing our broken roads and bridges. Finally, continue n Volunteer to participate in a Role Model Exchange Day at one of IIG’s participating schools cleaning up crime in our cities. Thank you Mr. President. n Become a Mentor n Establish a corporate-wide IIG Program n Make a donation to our campaign: $1M by June 30, 2019. [55% to goal]

For more information, please contact: Betsy Kelder, [email protected] | www.investgirls.org

THE CEE REPORT | WINTER 2019 THE CEE REPORT | WINTER 2019 PAGE 5

CEE Report_Winter2019_5fxgrx.indd 5 1/31/19 3:10 PM 2018 DONOR HONOR ROLL 2018 DONOR HONOR ROLL

We would like to thank our donors who gave their support in 2018. John Lipsky Jill Faherty Lloyd Champion ($500,000+) FINRA Amazon Smile Michael A. Peterson Harrison Lung State Farm Insurance Ford Motor Credit Company Harold Ames PNC Bank Ursula Moran Companies The George Lucas Family Ariel Investments Quorum Federal Credit Union Kenneth Motschwiller Foundation Francesco Barosi Scott Rechler Rahim A. Muhammad Champion ($250,000 to Russell Glass Charlotte B. Beyer Brian Rose National Association of $499,999) Golub Capital LLC David and Eunice Bigelow Guy G. Rutherfurd Economics Educators Anonymous The Guardian Life Insurance Alan S. Blinder Manish C. Shah Jennifer Peve Peter G. Peterson Foundation Company of America Michael Blumstein Robert I. Shapiro Judith J. Plows Silicon Valley Community The Jerome V. Bruni Emily Bolton Donald Siskind David I. Robbins Foundation Foundation BTQ Financial SLCE Architects Pam B. Schafler Mary Ann Johnson Stephen G. Buckles Austin Smith Daniel H. Schulman Champion ($100,000 to Mitchell R. Julis Chris Byke John A. Sprague Charles Scibetta $249,999) Larry Kantor Cabot Coach Builders Stephan Steiner Smitty’s Management Bank of America Foundation Ann F. Kaplan The Calvin K. Kazanjian Molly Fergusson Tanaka Eliot Snider Fidelity Investments (FMR) Samantha Kappagoda and Economics Foundation Susan Tanaka Kathleen Stephansen Barry G. Haimes David K.A. Mordecai Deidre H. Campbell Kay Torshen Richard Sylla Verizon Foundation Mayor’s Fund for New York City Center for Financial The Travelers Companies, Inc. Spencer Tanaka Wells Fargo Bank N.A. Cathy Minehan Capabilities University of Florida Ranjit Thomas Nan J. Morrison Citadel Foundation Foundation Margaret G. Warren President ($50,000 to David W. Nelms Coho Partners, Ltd. Hal R. Varian Sally Wood $99,999) Peter S. Nurnberg Christine Cronin and Andrew M. Wallach Ellen Zentner Anonymous People’s United Community Mark Hurst Molly Wharton Adolph Coors Foundation Foundation Andrew Davidson William Wilby Friend (Up to $499) Alfred P. Sloan Foundation Gary Price Sharon Denson The William and Anonymous Assurant Chet Ragavan Stephen DeSimone Jo Ellen Odom Fund Sally Ball Citi Joseph M. Schell The Dickson Foundation, Inc. David S. Wilson Thomas C. Barron Moody’s Corporation* S. Buford Scott Kristen Dickey Christina Worley Thomas Beard PwC John J. Siegfried, Ph.D. Susan Doty Ronald Beaton The UPS Foundation Gary H. Stern Michael Eckstut Supporter ($500 to $999) Berkshire Capital Securities Graham Tanaka Nancy Ertag-Brand Anonymous Mark Biderman Educator ($25,000 to $49,999) Voya Financial* Yildiz Ferri American Online Giving Boston Consulting Group AlixPartners Walton Family Foundation Charlotte K. Frank Foundation Charlotte Bourhis Ally Duncan Young Robert Frank Aquila Investment George H. Boyd III American Bankers Association The Gordon and Llura Gund Management Walter Burch Discover Investor ($5,000 to $9,999) Foundation David Bach Tom Burnett Next Gen Personal Finance CIBC Holly Hess Groos Richard Berner Harold Burson PIMCO Institutional Investor Inc. The Hackett Group Donald S. Bernstein Joan Caldas Beth Kobliner Shaw KeyBank Foundation Peter Blair Henry Chris Caltabiano Michael Caravella Muriel F. Siebert Foundation Iridian Asset Management Willard I. Hill, Jr. Jordan Cook Stephanie Carchia The Stiles-Nicholson McKinsey & Company, Inc. The Jacquelyn & Pamela Craig Rosanna Castillo Foundation Melinda J. Mount Gregory Zehner Foundation Frances D’Alessio Norm Champ Voya Foundation Rebecca Patterson Tonia L. Kaminsky Adam Fate Joan Chevalier PCSB Community Foundation Richard Ketchum Penny Foley Scholar ($10,000 to $24,999) PRIMECAP Management Daniel Kortick Benjamin M. Friedman, Ph.D. * Special thanks to our donors who leveraged a matching gift from their company. 1st Financial Bank USA Company Arkadi Kuhlmann Susan Gault-Brown Affiliate Supporters Bloomberg* Lowell Robinson Jeffrey M. Lacker GE Foundation* Arizona Council on Economic Education Scott Booth Schell Family Foundation* John W. Lavery Global Economic Education California Council on Economic Education Peter Chaffetz Schwarzman Scholars Steve Liesman Alliance CEE-Japan Chaffetz Lindsey LLP Shufro, Rose & Co. Felicia Lipson Diane Glossman Economics Arkansas Charles Schwab & Co., Inc.* TD Ameritrade Deborah Lucas Michael Guarnieri Florida Council on Economic Education Robert Alan Chlebowski Phil Wharton Annamaria Lusardi Maurine Haver Georgia Council on Economic Education Dalio Foundation, Inc. Michael A. MacDowell John Herrmann Iowa Council on Economic Education DTCC Saver ($1,000 to $4,999) Loretta Mester Wei-Chung Bradford Hu Kansas Council on Economic Education Edelman Anonymous (2) Money Experience James Kalashian Maryland Council on Economic Education Robert Fauber Abner, Herrman & Brock Jason Morganroth Nikhil Kumar Emily Kolinski Morris Michigan Council on Economic Education

PAGE 6 THE CEE REPORT | WINTER 2019 THE CEE REPORT | WINTER 2019

CEE Report_Winter2019_5fxgrx.indd 6 1/31/19 3:10 PM 2018 DONOR HONOR ROLL 2018 DONOR HONOR ROLL

We would like to thank our donors who gave their support in 2018. John Lipsky Harrison Chilton Anne Infeld Diana Rosenbach Jill Faherty Lloyd Sara Ciabocchi International Monetary Fund* Michael Russell Michael A. Peterson Harrison Lung Lee A. Clair Alan R. Kahn Matthew Russman PNC Bank Ursula Moran Michael Clark Risa Kavalerchik David G. Samuels Quorum Federal Credit Union Kenneth Motschwiller Robert L. Clinton Mary Kristin Klein Jeffrey Sanson Scott Rechler Rahim A. Muhammad Barry Cohen Teresa Rai Knight Dana Saporta Brian Rose National Association of Anna Conrades Tim Kuroda Jim Schappert Guy G. Rutherfurd Economics Educators Julia Coronado Elyse Lacher Charles Scott Manish C. Shah Jennifer Peve Ashley D’Oliveira Jonathan Lamb John Scott Robert I. Shapiro Judith J. Plows Deutsche Bank Lateef Investment Angela and Michael Shelton Donald Siskind David I. Robbins Paul Dietche Management Jonathan Sherman SLCE Architects Pam B. Schafler Jonathan Dodge Riza Laudin Ann Shoket Austin Smith Daniel H. Schulman Dimitri Drouillard Daphne Layton David Sigman John A. Sprague Charles Scibetta Izu Emeagwali Madeline Lee Barbara Silverman Stephan Steiner Smitty’s Management Eden Engel-Rebitzer James Leitzel Brian Sloboda Molly Fergusson Tanaka Eliot Snider Graham Estabrook Rachel Lipski Tarnisha Smart-Santiago Susan Tanaka Kathleen Stephansen Alan B. Ettinger and Neil Lucey Sysounthone Somboun Kay Torshen Richard Sylla Deborah M. Weisbrot Phil Mackintosh John C. Spavins The Travelers Companies, Inc. Spencer Tanaka Ray C. Fair Brittany Maltby Amy Springsteel University of Florida Ranjit Thomas T. Aldrich Finegan Kathleen Massey Carolyn Nurnberg Spungin Foundation Margaret G. Warren The Flagg Fund Ronita Mathias Alice Stinebaugh Hal R. Varian Sally Wood Shelby Frost Kalen McConnell Barry Strohl Andrew M. Wallach Ellen Zentner Peter A. Furman Michael McDonough Brian Strout Molly Wharton Steve Gadd Katherine McElroy Rudy Sumpter William Wilby Friend (Up to $499) Amy Geffen Prateek Mehrotra Jeanne-Mey Sun The William and Anonymous Robert J. Goerke Christopher Monroe Curtis Tao Jo Ellen Odom Fund Sally Ball Glenn Gottselig Cecilia Moss Kenneth J. Taubes David S. Wilson Thomas C. Barron Patrick A. Grasso Andrea Mozo Daniel Thompson Christina Worley Thomas Beard Joan Shapiro Green Joseph Nguyen Sean Tubridy Ronald Beaton Ronald F. Greenspan Gregory H. Patterson Erin Valentine Supporter ($500 to $999) Berkshire Capital Securities Cynthia Hallenbeck Jose Piazza Cynthia King Vance Anonymous Mark Biderman Daniel Hamermesh Maureen Piche Wayne J. Vaughan American Online Giving Boston Consulting Group Linda H. Hanauer Edwidge Pierssaint Elizabeth Villard Foundation Charlotte Bourhis Gail Harris Nada Polanco Rob Vreeland Aquila Investment George H. Boyd III Ted Hartsoe Rosalie Polanco Kelli Walton Management Walter Burch Brenda Harvey James Poterba and Kelly Wannop David Bach Tom Burnett Elizabeth Healy Nancy Rose Jack Weinstein Richard Berner Harold Burson Geordie Hebard Vann Prime David A. Weisbrod Donald S. Bernstein Joan Caldas Helbling & Associates Dick Rankin Gulum Williams Chris Caltabiano Michael Caravella Diana P. Herrmann Georgia Sozou Reichert Nicholas R. Woo Jordan Cook Stephanie Carchia Matthew Hirsch Roiana Reid Clement B. Wood Pamela Craig Rosanna Castillo George Hornig Ethan Ribler DeVon Yoho Frances D’Alessio Norm Champ Jody Hrazanek Ripple* Natalie Zfat Adam Fate Joan Chevalier Elise Hubsher Helen Roberts Penny Foley Benjamin M. Friedman, Ph.D. * Special thanks to our donors who leveraged a matching gift from their company. Susan Gault-Brown GE Foundation* Affiliate Supporters

Global Economic Education Arizona Council on Economic Education Minnesota Council on Economic Education With much appreciation to our in-kind donors: Alliance California Council on Economic Education Mississippi Council on Economic Education AndNow Media Diane Glossman CEE-Japan Missouri Council on Economic Education Joan Chevalier Michael Guarnieri Economics Arkansas Montana Council on Economic Education Hogan Lovells US LLP Maurine Haver Florida Council on Economic Education North Carolina Council on Economic Education Wachtell, Lipton, Rosen & Katz John Herrmann Georgia Council on Economic Education SC Economics Wei-Chung Bradford Hu Iowa Council on Economic Education Virginia Council on Economic Education James Kalashian Kansas Council on Economic Education Maryland Council on Economic Education We make every effort to ensure that the information listed is accurate. If you have any questions, Nikhil Kumar please contact Tarnisha Smart, Senior Director of Development at 212-730-6704 or Michigan Council on Economic Education [email protected].

THE CEE REPORT | WINTER 2019 THE CEE REPORT | WINTER 2019 PAGE 7

CEE Report_Winter2019_5fxgrx.indd 7 1/31/19 3:10 PM BOARD OF DIRECTORS

OFFICERS Tonia Kaminsky ASSOCIATE BOARD MEMBERS Partner and Senior Managing Director Barry Haimes, Chairman Shufro, Rose & Co., LLC Serena Ang Managing Partner Investment Associate Sage Asset Management Larry Kantor Suang Ventures Managing Director and Head of Global Research Willard Hill, Jr., Secretary (retired) Emily S. Bolton Managing Director (former) Barclays Capital Chief Strategy Officer MBIA Inc. The Volcker Alliance Samantha Kappagoda Holly Hess Groos, Treasurer Chief Economist, Risk Economics, Inc. Jordan Cook SVP, Business Excellence & ZBB Visiting Scholar, Courant Institute of Portfolio Analyst Verizon Mathematical Sciences, NYU Brown Advisory Nan J. Morrison, President & CEO Emily Kolinski Morris Izu Emeagwali Council for Economic Education Chief Economist Vice President and Assistant General in the Ford Motor Company Corporate and Investment Bank JPMorgan Chase & Co. DIRECTORS EMERITI Jeffrey M. Lacker Former President (retired) Susan I. Gault-Brown Harold Burson, Chairman Emeritus Federal Reserve Bank of Richmond Partner Founder, Chairman (retired) Morrison & Foerster Burson-Marsteller Annamaria Lusardi Denit Trust Endowed Chair of Economics and Nirav Kanakia John T. Dillon, Chairman Emeritus Accountancy, The George Washington University Product Manager Chairman & CEO (retired) School of Business; Director, Financial Literacy Citigroup – Treasury and Trade Services International Paper Company Center Edwin Kim Harold McGraw III, Chairman Emeritus Michael A. MacDowell MBA 2019 Chairman, President & CEO Managing Director Columbia Business School McGraw Hill Financial, Inc. The Calvin K. Kazanjian Economics Foundation, Inc. Michael Lei R. Madison Murphy Associate Chairman (retired) Loretta J. Mester Greenbriar Equity Group Murphy Oil Corporation President and CEO Federal Reserve Bank of Cleveland Rachel Lipski William E. Odom, Chairman Emeritus Consultant, Global Transfer Pricing Chairman (retired) Peter Nurnberg Deloitte Tax LLP Ford Motor Credit Company Vice President ® Lindsay Goldberg Rahim Muhammad, CFP Vice President, Financial Consultant BOARD OF DIRECTORS Gary Price Charles Schwab Scott Booth U.S. Chief Administrative Officer & Partner Laura Patterson Managing Partner Affairs Leader PwC Senior Associate, Wealth Advisory Eastern Advisors LLC The Glenmede Trust Company Deidre Campbell Chet Ragavan, CFA EVP & Chief Risk Officer Michael A. Peterson, MBA Global Sector Chair, Financial Services Mike Anthony Consulting, LLC Edelman Voya Financial Ivan Puerta Peter Chaffetz Jeffrey Sanson Executive Director Product Manager Partner Citigroup Chaffetz Lindsey LLP Indiana Council for Economic Education Lashea Reaves Robert Alan Chlebowski John J. Siegfried Professor Emeritus Director Executive Vice President 8 Cents in a Jar Wells Fargo Vanderbilt University Austin Smith Ruth Cookson Gary Stern Former President (retired) Investment Banking Analyst Director, Center for Economic Education Berkshire Capital Old Dominion University Federal Reserve Bank of Minneapolis Kirsten A. Stainer Robert Fauber Graham Tanaka President, Chief Investment Officer and Chief FX and Futures Analyst President Millennium Management Moody’s Investors Service Economist for Tanaka Capital Management and the TANAKA Growth Fund Spencer Tanaka Benjamin M. Friedman Philip Wharton Associate, Project Finance William Joseph Maier Professor of Political MUFG Economy CIO Department of Economics Twining Properties Ranjit Thomas, CFA Harvard University Duncan Young Portfolio Manager Spice Capital Russell Glass CEO Managing Director Effective School Solutions Catherine Waelchli RDG Capital LLC Manager Ernst & Young, LLP Mary Ann Johnson Senior Investment Consultant Molly Wharton Castle Wealth Management Research Associate Morgan Stanley

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