WORK READINESS ANNUAL REPORT 2015-2016 ENTREPRENEURSHIP FINANCIAL LITERACY FINANCIAL STATEMENT Statement of Activities For the Year Ending June 30, 2016 Revenue Eastern Iowa Special Events 654,747 Foundation 401,999 Corporate 198,932 Governmental 198,459 Individual 81,201 2015-2016 Eastern Iowa Funding Mix Investment & Other Income 23,249 > 1% Total Revenue 1,558,587 5% Special Events In-Kind contributions 557,459 13% 42% Foundation 13% Expenses Eastern Iowa Corporate Program Services 1,179,524 Governmental 26% Administration 221,018 Individual Special Events 150,400 Investment & Other Income Fund Raising 395,151 License Fee 44,083 Total Expenses 1,990,176 Net Unrealized Gain on Investments 21,038 Change in Net Assets 146,908 2015-2016 Cedar Rapids Area 2015-2016 Cedar Valley Area 2015-2016 Iowa City Area 2015-2016 Iowa City Area 6% Special Events 3% Special Events 8% 12% 12% 29% 19% 40% Special Events 50% Foundation Foundation 10% 15% Foundation Corporate Corporate Corporate 21% 22% Governmental Governmental Governmental 41% 12% Individual Individual Individual Revenue Cedar Rapids Revenue Cedar Valley Revenue Iowa City Special Events 458,168 Special Events 129,744 Special Events 66,836 Foundation 200,812 Foundation 181,457 Foundation 19,730 Corporate 95,851 Corporate 68,659 Corporate 34,423 Governmental 112,582 Governmental 53,777 Governmental 32,100 Individual 52,976 Individual 14,209 Individual 14,016 1 AddressingWORK Community READINESS Challeng- es ENTREPRENEURSHIP ProvidingFINANCIAL Local Solutions LITERACY IMPACTING STUDENT SUCCESS! INSPIRING AND PREPARING YOUNG PEOPLE TO SUCCEED IN A GLOBAL ECONOMY Junior Achievement (JA) believes that no one can improve their circumstances without a belief in themselves and a sense of purpose. JA helps young people achieve their goals by showing students how money, careers and business ownership work with the help of volunteer role models from the community and proven programs. By providing students with work readiness, entrepreneurship, and financial literacy skills at an early age, Junior Achievement is helping students feel more confident about their role in society and their ability to effectively contribute in the workforce. On behalf of our board of directors and staff, I thank you for your support in helping us accomplish this here in Eastern Iowa. Because of our community’s generosity, Junior Achievement of Eastern Iowa (JAEI) was able to provide relevant, hands-on economic educational programs to 42,084 kindergarten through twelfth grade students in 1,875 classrooms with the assistance of 1,255 local Inside the Report volunteers during the 2015-2016 academic year. Thank you! This year, JAEI will work with volunteers and partners like you, to give Financial Statement..................1 students a look into their future. In fact, this year, we will impact the ® Letter from the President.... ...2 lives of over 900 students that will participate in the JA Finance Park Virtual program to give them the hands-on experience to understand Volunteer Testimonials............3 why staying in school, being financially capable, and working toward Community Challenges............4 their dreams is important. JA Finance Park® is a month-long The role of JA...........................5 economics education program that introduces personal financial planning and career exploration. The program culminates in a visit to JAEI at a Glance.......................6 JA Finance Park® virtually, where middle and high school students put JAEI Classroom Programs......7 their newly acquired money-management skills to the test. JAEI Participating Schools....10 During the computer-based simulation, students receive family JAEI Volunteers......................13 scenarios complete with job title, marital and family status, income, JAEI Donors...........................19 existing savings, and existing debt. They then visit virtual businesses JAEI Leadership.....................24 where they must purchase items to meet the needs of their family, such as insurance, clothing, transportation, housing, groceries, and Board Member Testimonials..26 childcare without spending more than they earn. Junior Achievement deeply appreciates the corporations, foundations, and individuals who contribute to our mission of inspiring and preparing young people to succeed in a global economy here in Eastern Iowa. JAEI has made great progress in being able to provide every student in Eastern Iowa the opportunities our programs afford, but there is much more to do. We look forward to building on our success and working with you to serve even more students this year. President Junior Achievement of Eastern Iowa 2 Volunteer Testimonials “I volunteer because as a little girl, I thought I wanted to be a teacher. Life changes and that was not the path I pursued. Yet, JA gives me that “teaching fix.” When I go into the classroom, and spend five weeks with these kids, I love their eagerness to learn or to have the answer. It is fun to see their creativity and to watch the light bulb go on when the students get the concept. The lessons often coincide with what the teacher has presented in another area of their studies and these learnings validate what is being presented. Junior Achievement is a good program and teaches lifelong lessons. Thank you for allowing me the opportunity to partner with you in expanding our young student’s minds.” —Sherry Etringer Classroom Volunteer, Veridian Credit Union “I have mostly lead the JA Our Community® program. I enjoy it because the second grade students are so eager to learn. I take that very seriously as I see it as an opportunity to hopefully help influence a positive path for their future. Junior Achievement helps plant a seed in the minds of students on how to be an ethical, productive and financially responsible adult. A humbling privilege and I can only hope significant decisions they make as they grow older are influenced by the lessons they participate in.” —Tim Buckley Classroom Volunteer, US Bank “Young children still have so much innocence, they are impressionable, eager to learn, and their ambition is inspiring; they are willing to dream big. While I don’t have a specific favorite age group to teach, I do have some specific activities that I really enjoy. The problem-solver catcher is always a fun one. As a business owner myself I enjoy the entrepreneur focus as the risk/rewards that being a business owner affords is high- lighted throughout the lessons. I also like talking about public service and why tax revenue is so important to a community.” —Drew Fober Classroom Volunteer, Fober, Arensdorf, & Associates “I love the skills and programs that Junior Achievement has to share with kids and I love being able to be part of that. I am able to share my life experiences in terms of the different jobs I have held and different skills I have learned and needed over the years in many different roles.” —Kimberly Blankenship Classroom Volunteer, Bradley & Riley 3 Addressing Community Challenges 20% of U.S. 49% of U.S. 36% of Americans 91% of Millennials students will not employers say that they have wish they had 20%complete high 49%recognize that 36%at some point in 91%greater access to school on time and shortages impact their lives felt their entrepreneurial earn a diploma. their ability to financial situation education programs. serve clients and was out of control. customers. As these statistics show, the need for Junior Achievement is very real. According to the U.S. Department of Education, 20 percent, or one-in-five students, will not complete high school on time and earn a diploma. This percentage is even higher for African-American and Latino students. A recent Talent Shortage Survey by the Manpower Group found that 49 percent, or nearly half of all U.S. employers, recognize that talent shortages impact their ability to serve clients and customers. A Jump$tart Coalition for Financial Literacy survey found that 36 percent of Americans say that they have at some point in their lives felt their financial situation was out of control. And even though Millennials are often thought of as being an entrepreneurial generation, the Marion Ewing Kauffman Foundation found that 91 percent of Millennials want greater access to entrepreneurial education programs. This means we are missing an opportunity to empower today’s young people with the skills necessary to innovate and create the higher paying, high-growth jobs of tomorrow. 4 The Role of JA Connecting kids to the local economy through money management skills, employability, and entrepreneurship Engaging local mentors and featuring local jobs Increasing graduation rates Instilling self-confidence in students Proof of Impact In the spring of 2016, Junior Achievement USA® (JA) conducted a survey of a scientifically valid sample of more than 700 JA Alumni. The intent of this research was to better understand the impact JA has had on the lives of the more than 100 million people who have gone through Junior Achievement programs since the organization’s founding in 1919. The JA Alumni were asked about a variety of topics, including educational attainment, career satisfaction, financial capability, income levels, and business ownership. These results were then compared to general population data from a variety of sources, including the U.S. Census, the U.S. Department of Education, and the Global Entrepreneurship Monitor. 5 Empowering young people to own their economic success! Local Program Results 2014-2015 2015-2016 2016-2017 Students 39,062 42,084