Financial Literacy Resources
Creative lessons and resources teaching financial literacy to youth K-12.
Paw Prints to Learning
Teach young people about animal welfare and how they CAN make a difference in animals' lives.
Activity
At-a-Glance
Time:
20 - 30 minutes
Materials:
- Sample finance statement and budget
- Finance Questions Worksheet
- Sample Board Manual
Physical Setting:
Board meeting room, U-shape set up.
Youth Workers
Understanding Finances
From Dollars Do Make Sense!
Purpose:
- To understand the periodic financial reports submitted to the board.
- To introduce board members to the financial aspects of board service: monthly statements, year-end reports, audits and fundraising responsibilities.
- To review questions board members should ask about an organization’s finances.
Activity:
- Divide large group into smaller groups of six to eight.
- Review with participants the Annual Budget and Monthly Finance Statement and give the group the Finance Questions To Ask Worksheet.
- Explain how to use their Sample Board Manual to review the Strategic Plan for Question 5.
- With one person in the group serving as the discussion leader, ask participants to find the answers to the Questions on the Budget, Finance Statement, in the Sample Board Manual. Allow 10 to 15 minutes.
- Bring the groups back together and lead discussion about the questions and answers.
Processing Questions:
- Board trustees need to add the following definitions to their new Board language:
a) Annual Budget
b) Monthly Finance Statement
c) Income-Expenses-Revenues
d) Tax-Exemption Status 501(c)3
- Discussion should center on why non-profits are exempt from paying taxes. The IRS Tax Code says they must be, “exclusively educational and charitable” to be designated a 501(c)3.
Caution —This could be like a school math class! Keep to one half hour or less and don’t lecture!
