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| Jump$tart Coalition | |
|---|---|
| Name | Jump$tart Coalition |
| Formation | 1995 |
| Type | Coalition |
| Headquarters | Washington, D.C. |
| Region served | United States |
| Fields | Personal finance, Financial literacy |
Jump$tart Coalition is a U.S.-based nonprofit coalition focused on advancing financial literacy among youth through advocacy, standards, research, and partnership. Founded in the mid-1990s, the organization brought together foundations, corporations, academic institutions, and nonprofit groups to promote personal finance education in schools and communities. Its activities intersect with public policy, philanthropic strategy, academic research, and corporate citizenship initiatives.
The coalition emerged in 1995 amid initiatives led by the Ford Foundation, Annenberg Foundation, Charles Stewart Mott Foundation, Fannie Mae Foundation, and actors from the Business Roundtable and AFL-CIO workplace programs, responding to concerns raised by reports from the U.S. Department of the Treasury, the Federal Reserve Board, and commissions such as the Pepper Commission on retirement security. Early collaborators included the National Endowment for Financial Education, the Consumer Federation of America, Jumpstart advocates, and scholars from Harvard University, Princeton University, and the University of Pennsylvania. Over time, the coalition engaged with federal agencies like the U.S. Department of Education, the Securities and Exchange Commission, and the Consumer Financial Protection Bureau while partnering with professional associations including the National Association of Secondary School Principals, the American Federation of Teachers, and the National Education Association.
The stated mission centers on improving financial capability for young people by promoting standards, research, and best practices similar to efforts by the Institute of Medicine in health or the National Science Foundation in STEM. Objectives align with establishing national standards akin to the Common Core State Standards Initiative process, advocating policy changes reflecting recommendations from commissions like the President's Advisory Council on Financial Capability, and encouraging adoption of curricula paralleling initiatives by Khan Academy and the Bill & Melinda Gates Foundation in other domains. The coalition seeks to influence policymakers linked to the U.S. Congress, state legislatures, and education agencies such as the U.S. Department of Education.
Programs have included educator training models similar to those advanced by Teach For America and curriculum endorsement approaches echoing the National Council for the Social Studies review practices. The coalition sponsored curriculum standards development, an annual Financial Literacy Survey for high school students comparable in profile to national assessments like the National Assessment of Educational Progress, and certification efforts reminiscent of Project Lead The Way credentialing. Initiatives involved collaborations with financial services firms such as Wells Fargo, Bank of America, and Vanguard for classroom materials, and partnerships with nonprofit providers including Junior Achievement USA, Operation HOPE, and the Boys & Girls Clubs of America to deliver in-person programs. Additional campaigns invoked media outreach strategies used by People for the American Way and public service efforts similar to Ad Council campaigns.
The governance model featured a board of directors composed of leaders from foundations, corporations, and nonprofit organizations, reflecting structures seen at the United Way and Council on Foundations. Membership drew from academia, including faculty from Stanford University, Columbia University, and University of Michigan, financial institutions like Citigroup and Goldman Sachs, advocacy groups such as the AARP and Consumer Reports, and professional associations including the National Association of State Boards of Education and the Council for Economic Education. State coalitions and local affiliates paralleled networks of the Chamber of Commerce and the National Governors Association.
Funding sources combined foundation grants from entities like the Rockefeller Foundation, corporate philanthropy from firms such as JPMorgan Chase and American Express, and project-specific sponsorships from organizations including TIAA-CREF and Prudential Financial. The coalition cultivated public-private partnerships resonant with collaborations between the Gates Foundation and government, drawing support from academic research grants similar to those awarded by the Spencer Foundation and procurement relationships comparable to USAID partnerships. Financial support sometimes channeled through intermediary nonprofits like the Urban Institute and the Brookings Institution for policy analysis.
The coalition commissioned and cited research produced by think tanks including the Brookings Institution, Urban Institute, and RAND Corporation and worked with assessment specialists akin to the ETS (Educational Testing Service) to measure outcomes. Reports tracked indicators similar to those in studies by the National Bureau of Economic Research and correlated program exposure with metrics used by the Pew Research Center. Impact claims included increased teacher confidence paralleling findings reported in Journal of Economic Education articles and greater student self-reported preparedness similar to surveys issued by the Consumer Financial Protection Bureau. Independent evaluations mirrored methodologies used by What Works Clearinghouse reviews.
Critics raised concerns comparable to debates around charter schools and school vouchers about the influence of corporate funding on curricular content, citing tensions like those documented in cases involving American Legislative Exchange Council-affiliated policy proposals. Scholars from institutions such as Teachers College, Columbia University and University of California, Berkeley questioned efficacy claims, invoking methodological critiques similar to controversies in social program evaluations involving the Institute for Policy Studies. Issues about conflicts of interest prompted scrutiny from consumer advocates like Public Citizen and Consumer Federation of America, while policy analysts from the Center for American Progress and Heritage Foundation debated the role of standards versus local control. Some debates echoed broader discussions over standardized testing exemplified by controversies around the No Child Left Behind Act and the Every Student Succeeds Act.