DOVER – A diverse group of Delaware nonprofit organizations will share in nearly $300,000 in grants from the state’s Financial Literacy Education Fund (FLEF) this year, supporting programs across the state to help Delawareans from all walks of life make better financial decisions for themselves and their families.

“Our communities grow and prosper when more Delawareans have the tools they need to manage their financial lives, make smart decisions with their money, and plan for their futures,” said Secretary of State Jeff Bullock, whose department oversees the FLEF grant program. “By supporting the organizations that help promote financial literacy, we’re making an investment in the future economic health of our state.”

Since the FLEF was established in 2010, more than $2 million has been awarded to more than two dozen organizations to improve financial literacy for Delawareans of all ages. Students in Delaware schools have learned the importance of saving money, families living in rental housing have been coached along the path to homeownership, and pregnant and parenting young women have learned how to develop financial plans to strengthen their futures.

“These grants for our citizenry, particularly when directed to our children and young adults, are the most basic and necessary economic and workforce development investments the state can make,” said Rob Eppes, president of Junior Achievement of Delaware. “In addition, FLEF grants bridge gaps in private funding that are increasingly challenging for non-profits to fill.”

This year, a total of $290,000 was awarded to 18 nonprofit organizations to support programs that met criteria established by the Office of the State Bank Commissioner. Funding for the FLEF is derived from a license fee charged to businesses that make high-cost payday loans and car title loans.

Applications for FLEF grants were considered on the basis of how they improve the financial literacy of Delawareans, especially programs that are proactive, preventive, and forward-thinking. Programs and services funded with FLEF grants are designed to reach populations or geographic regions that have limited access to financial literacy resources, with special emphasis on reaching out to members of the military, seniors and minority communities.

Dover, DE – For the seventh consecutive year, grant funds for Delaware schools and nonprofits to promote financial literacy across the state are now available through the state’s Financial Literacy Education Fund (FLEF).

“Delaware continues to lead the way in making financial education available to Delawareans from all walks of life,” said Governor John Carney. “Through a variety of programs that teach how to establish and maintain a household budget, educate youth on the importance of having good credit, and help families buy their first homes, Delaware’s schools and non-profit organizations have the tools to promote healthy financial decision making.”

Since the FLEF was established in 2010, approximately $2 million has been awarded to more than two dozen organizations to improve financial literacy for Delawareans of all ages. Students in Delaware schools have learned the importance of saving money, families living in rental housing have been coached along the path to homeownership, and pregnant and parenting young women have learned how to develop financial plans to strengthen their futures.

This year, a total of $270,000 will be made available to support programs that meet criteria established by the Office of the State Bank Commissioner and the Department of Education. Funding for the FLEF is derived from a license fee charged to businesses that make high-cost payday loans and car title loans.

Proposals for competitive grants will be considered on the basis of how they improve the financial literacy of Delawareans, especially programs that are proactive, preventive, and forward-thinking. Applications for programs and services designed to reach populations or geographic regions that have had limited access to financial literacy programs are encouraged, with special emphasis on reaching out to members of the military, seniors and minority communities.

All schools recognized by the Delaware Department of Education and Delaware organizations with 501(c)(3) federal tax-exempt status are eligible to apply. The FLEF has one competitive grant cycle each year, overseen by an award committee.

Grant applications are due by Friday, September 15, 2017 and must be completed using the form available at banking.delaware.gov. Forms should be emailed to Dawn Hollinger at the Office of the State Bank Commissioner (dawn.hollinger@delaware.gov) along with any attachments. Receipt of grant applications will be confirmed within three business days. If applicants do not receive confirmation, they should contact Dawn Hollinger at 302-739-4235 and resubmit their applications.

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Contact: Doug Denison
Department of State
doug.denison@delaware.gov
302-857-3038

Governor Markell announced that 17 Delaware nonprofit organizations will receive a total of $204,000 in grant money from the state’s Financial Literacy Education Fund (FLEF). These grant funds will be used to teach adults and children throughout Delaware the importance of saving money, maintaining a budget, borrowing responsibly. To make this announcement, Governor Markell was joined by State Bank Commissioner Robert Glen and members of the Financial Literacy Education Fund grant committee.

Governor Markell established the Financial Literacy Education Fund in 2009 when he signed Senate Bill 108 to require businesses that make short-term consumer loans (payday loans) and car title loans to pay a high-cost loan license fee surcharge of $1,500 annually for each licensed office. Those fees are deposited into the FLEF in order to fund grants to or contracts with schools or other organizations that provide financial literacy skills to adults and youth in Delaware.

Since the program began, over $2 million in FLEF grants have been awarded to over 26 organizations to provide financial education that empowers youth and adults in Delaware to make sound financial decisions for today, tomorrow and every day in their future. “These organizations continue to improve the financial knowledge of the citizens of Delaware by providing adults with the tools needed to succeed financially and by teaching our youth the importance of saving money and making good spending choices,” said Governor Markell.

The FLEF is administered by the Office of the State Bank Commissioner and the Secretary of State’s Office. Applications for the competitive grants were rated on how they would improve the financial literacy of Delawareans. All schools recognized by the Delaware Department of Education and nonprofit organizations within the State of Delaware that have 501(c)(3) designation by the Internal Revenue Service were eligible to apply. The Fund has one competitive grant cycle per calendar year.

Governor Jack Markell has announced the availability of a sixth round of grants to promote financial and economic literacy among Delawareans of all ages through the state’s Financial Literacy Education Fund (FLEF).

“The Financial Literacy Education Fund helps ensure Delawareans have access to support with budgeting for today, saving for tomorrow, and investing for the future,” said Governor Jack Markell. “In the first five years of the program, and through a diverse group of organizations, thousands of Delaware adults and children have been empowered with the knowledge to make strong financial decisions.”

In 2015, 17 organizations throughout Delaware received support through the FLEF. During his administration, Governor Markell has also launched the financial empowerment initiative Stand by Me, a partnership with United Way of Delaware that gives Delawareans free access to a Personal Financial Coach and a toolkit to navigate the challenges leading to personal financial security.

Non-profit organizations and K-12 schools throughout Delaware are eligible to apply for a total of $204,000 to support programs that meet criteria established by the Office of the State Bank Commissioner and the Department of Education. Funding for the program is derived from a license fee charged to businesses that make high-cost payday loans and car title loans.

Proposals for competitive grants will be considered on the basis of how they improve the financial literacy of Delawareans. The State is particularly interested in funding proactive, preventive, and forward-thinking proposals. Applications for programs and services designed to reach populations or geographic regions within the State that have had limited access to financial literacy programs are encouraged, with special emphasis on reaching out to members of the military, seniors and minority communities.

All schools recognized by the Delaware Department of Education and nonprofit organizations within the State of Delaware that have a 501(c)(3) designation by the Internal Revenue Service are eligible to apply. The Fund has one competitive Program Grant cycle each year. A grants committee will oversee all grant-making.

Grant applications are due by April 15, 2016, and must be completed using the form available at banking.delaware.gov. Forms should be sent to Dawn Hollinger at the Office of the State Bank Commissioner (dawn.hollinger@delaware.gov) along with any attachments. Receipt of grant applications will be confirmed within 3 business days. If applicants do not receive confirmation, they should contact Dawn Hollinger at 302-739-4235 and resubmit their applications.

At his office in Dover today, Governor Markell announced that 17 Delaware nonprofit organizations will receive a total of $217,600 in grant money from the state’s Financial Literacy Education Fund (FLEF). These grant funds will be used to teach adults and children throughout Delaware the importance of saving, establishing and maintaining a budget, and investing for the future. To make this announcement, Governor Markell was joined by State Bank Commissioner Robert Glen.

Governor Markell established the Financial Literacy Education Fund in 2009 when he signed Senate Bill 108 to require businesses that make short-term consumer loans (payday loans) and car title loans to pay a high-cost loan license fee surcharge of $1,500 annually for each licensed office. Those fees are deposited into the FLEF to fund grants to or contracts with schools or other organizations that provide financial literacy skills to adults and youth in Delaware.

From 2011 through 2014, the first four years of the FLEF grant program, 25 organizations provided financial education to youth and adults in Delaware through a total of $1,623,605 in grants. In 2014, the FLEF awarded $264,000 in funds to 19 organizations. Those 19 nonprofit organizations assisted over 38,500 Delawareans to gain the tools necessary to make sound financial decisions for today, tomorrow and every day in their future. “These organizations continue to make Delaware stronger by providing adults with the knowledge needed to succeed financially and by teaching our youth the importance of making good monetary choices,” said Governor Markell.

The FLEF is administered by the Office of the State Bank Commissioner and the Secretary of State’s Office. Applications for the competitive grants were rated on how they would improve the financial literacy of Delawareans. All schools recognized by the Delaware Department of Education and nonprofit organizations within the State of Delaware that have 501(c)(3) designation by the Internal Revenue Service were eligible to apply. The Fund has one competitive grant cycle per calendar year.