Financial Education Organizations Demonstrate Effectiveness of Nonprofit Cooperation

Strategic Partnership to Extend Personal Finance Outreach

Date: November 17, 2006

Contact: Paul Golden 303-224-3514, [email protected]

ENGLEWOOD, COLORADO—To meet an increasing demand for financial counseling and education assistance, the National Endowment for Financial Education® (NEFE®) and the Foundation for Financial Planning (FFP) have announced the signing of a partnership agreement that will assist in furthering the objectives of both organizations to advance the cause of helping people get control of their financial lives.

The Foundation for Financial Planning, which was established in 1995, upholds its mission of providing people with personal finance knowledge by connecting the financial planning community with those in need. The FFP succeeds in this by supporting pro bono advice and outreach activities, for which it has awarded nearly $1.8 million in grants to organizations through 2005. Beginning in 2007, NEFE will apply its extensive grantmaking experience toward administering the FFP grants program.

“The NEFE-FFP partnership is consistent in every way with our philosophy of collaborating with others in support of shared goals,” said Ted Beck, president and CEO of the National Endowment for Financial Education. “This effort promotes the idea that alliances between financial education and financial services organizations can contribute to each other’s knowledge base and leverage limited resources to vastly improve the financial well-being of Americans.”

“Because our organizations’ grants programs have pursued different objectives, this partnership will serve not only as a conduit to share information, but also as a means to achieve participation from each other’s core constituencies,” explained Jim Peniston, executive director of the Foundation for Financial Planning. “This will lead to a synergy between the programs that, hopefully, will make them even stronger than they are today.”

NEFE’s expertise in grantmaking includes managing its own grants program, which was launched in 1999, as well as administering programs for other organizations that share a similar philanthropic interest in the public’s financial security. The National Endowment for Financial Education previously administered the grants program for the American Express Economic Independence Fund and currently does so for the NASD Investor Education Foundation.

The NEFE-FFP agreement was first conceived as a strategic partnership within the financial literacy community by G. Joseph Votava, Jr., JD, CPA/PFS, CFP®, chairman of the NEFE Board of Trustees, and president and CEO of Nixon Peabody Financial Advisors, LLC, in Washington, D.C.; and Larry W. Johnson, CFP®, chairman of the Foundation for Financial Planning, president of Sterling Financial Advisory Services, Inc., and managing partner of Sterling Financial Group in Itasca, Illinois.

In commenting on the agreement, Votava said, “By combining NEFE’s extensive research and education capabilities with the Foundation for Financial Planning’s substantial support of practitioners’ pro bono and outreach efforts, both organizations can be even more effective in helping consumers take charge of their finances and, in so doing, achieve a higher quality of life.”

“Having these two organizations partner to help each other further their financial literacy objectives is both an altruistic outgrowth and a natural progression of the financial planning movement that began in the early 1970s,” Johnson observed. “By working together, capitalizing on each other’s strengths, and avoiding duplication of effort, they can apply their available resources more efficiently to serving the public good.”

The Foundation for Financial Planning supports nonprofit organizations that use financial planners willing to donate their services to help needy people gain control of  their finances. Through the grants program, the FFP has assisted Americans in meeting financial challenges brought about by difficult circumstances, including:

  • Helping First Responders from 9/11—now dying—plan for their family’s future without them;
  • Providing survivors of devastating hurricanes on the Gulf Coast with financial guidance to put their lives and businesses back together;
  • Advising veterans from Iraq and Afghanistan, and counseling the grieving widows and widowers of soldiers left with little but government life insurance;
  • Assisting battered women fleeing from abusive spouses, incapable of managing their own affairs.

Additional information on the FFP grants program can be found on the National Endowment for Financial Education Web site, at by clicking on the Grantmaking section.

To learn more about the Foundation for Financial Planning, visit



  • Paul Golden

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