VCEE_Y25 Board Packet : simplebooklet.com

The Virginia Council on Economic Education is a 501(c)(3) nonprofit organizationthat is dedicated to ensuring that Virginia's K-12 students gain the economic andfinancial knowledge and skills they need to succeed in our dynamic economy.Working with our business partners here in Virginia, VCEE advocates foreconomic and financial education at the Virginia General Assembly, with theVirginia Board of Education, and in the community. As a result of these advocacyefforts, Virginia is widely recognized as having among the best economics andpersonal finance Standards of Learning (SOLs) in the country. Virginia is one ofonly four states with a graduation requirement that requires every student tocomplete a full-credit, full-year high school course in economics and personalfinance. While VCEE's advocacy efforts are important, our primary focus is to prepareteachers to effectively teach economics and personal finance to their students.Through VCEE’s network of nine university-based Centers for Economic Education,one of which is here at VCU, we provide Virginia's K-12 teachers with extensiveprofessional development, along with useful classroom resources, all offered at nofinancial cost to the teachers. We often hear from teachers that they don't feelprepared to teach economics and personal finance to their students, and thissentiment is corroborated by national studies. So, the support we provide to themis critical to ensuring that every Virginia student learns these important subjectsfrom a qualified teacher. Along with professional development, we offer variousprograms and competitions that provide students with an opportunity to deepenand demonstrate their knowledge of economics and personal finance. Examples ofthese programs include Reading Makes Cents, the Mini-Economy, the StockMarket GameTM, and the Virginia Economics & Personal Finance Challenge,whose state champions advance to compete in the National Economics andPersonal Finance Challenges. Founded in 1970 by J. Curtis Hall, Dean of the VCU School of Business, and S.Buford Scott, a prominent local businessman, VCEE has grown to become thepreeminent resource for Virginia’s educators with regard to economic and financialeducation, and VCEE’s subject matter expertise on these topics is regularly soughtby the Virginia Department of Education. We have provided valuable input into thecreation and ongoing maintenance of the economics and personal finance SOLs,and we have been involved in the creation of the Curriculum Frameworks thatsupports these SOLs. With regard to VCEE’s measures of success, we track the number of programevents, the number of teachers benefitting from our professional development, thepercentage of those teachers which are from Title 1 schools, the number of contacthours, the number of students impacted, and the number of views of theclassroom resources on our website, our social media posts, and our newsletters. Alink to a summary of our strong results for 2024 is in the Appendices. 2 0 2 5 | V C E E B O A R D O R I E N T A T I O N W E L C O M E P A C K E T 0 1OVERVIEW

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Additional evidence of VCEE’s positive impact in Virginia can be seen in severalrecent national recognitions, including:Champlain College’s National Report Card on State Efforts to Improve FinancialLiteracy (latest edition), in which Virginia earned an "A" rating for the sixthconsecutive year—a distinction no other state has achieved.Working in Support of Education (W!SE) rankings, which named six Virginiahigh schools among the top ten and 59 among the top 100 in the nation forexcellence in financial education in 2023.WalletHub’s 2023 study on financial literacy, which ranked Virginia as the thirdmost financially literate state overall, and the highest-ranked state for FinancialKnowledge & Education.At VCEE, we believe that providing all students with a strong foundation ineconomics and personal finance equips them with essential life skills that will servethem well, regardless of their future career paths. By requiring K-12 students tocomplete these courses, we help level the playing field, ensuring that even thosewho may not have access to this knowledge at home gain the tools to makeinformed financial decisions. This education empowers students to invest in theirown human capital, manage their earnings wisely, and navigate the financialchoices they will face throughout life. In turn, they become more productiveemployees, successful entrepreneurs, savvy consumers, and engaged citizens. Theimpact of this education extends beyond individual success—it strengthensVirginia’s workforce, supports our employers, and contributes to a more resilientand responsible state economy.All of these benefits are generated through our highly-regarded university-basedCenters for Economic Education across Virginia. These Centers build relationshipswith area schools and school divisions, seeking to understand the needs of theireducators, and providing professional development to enable the educators tomore effectively teach economics and personal finance to their students. TheCenters also engage students and their teacher-advisors in various VCEE programsand that enable the students to deepen their knowledge and demonstrate it incompetitions. With a dedicated staff, an outstanding board of directors, strong universitypartnerships, and business community support, VCEE is well-positioned forcontinued success. Our updated Strategic Imperatives outline priorities to diversifyrevenue for financial stability, provide high-quality professional development andclassroom-ready resources for teachers, expand our reach, and increase awarenessof VCEE and our services. The Appendices include a list of VCEE’s Board ofDirectors, a graphic of our Centers for Economic Education and affiliateduniversities, and our Strategic Imperatives.2 0 2 5 | V C E E B O A R D O R I E N T A T I O N W E L C O M E P A C K E T 0 2OVERVIEW

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2024 VCEE DATAREPORTNATIONALREPORT CARD100 BEST W!SEHIGH SCHOOLS FINANCIALLYLITERATE STATESLIFE AFTER HIGHSCHOOL2 0 2 5 | V C E E B O A R D O R I E N T A T I O N W E L C O M E P A C K E T 0 3APPENDICES This infographic highlights key insightsinto VCEE's mission of providing Virginia'sK-12 students with essential economicknowledge and financial skills, amplifyingimpact through dedicated educators.Is Your State Making the Grade? 2023National Report Card on State Efforts toImprove Financial Literacy in HighSchool™; Champlain College, December,2023 First published in 2013, the 100 Best W!seHigh Schools national ranking recognizesthe top 100 performing high schools inW!se’s national network, showcasesexcellence in financial education andmotivates schools to “race to the top” inpersonal finance instruction. Most and Least Financially Literate States(2024); WalletHub WalletNews, April 4,2024. Virginia ranks 4th in the nation forfinancial literacy, according to WalletHub.The ranking is based on factors likefinancial education programs, consumerhabits, and the percentage of adults withemergency savings.This free 6-hour workshop, offered atVCEE’s university-based Centers forEconomic Education, helps teachersguide students in making informeddecisions about goal setting, investing inthemselves, post-graduation paths,college selection, and paying for highereducation.This one-page snapshot offers a conciseoverview of VCEE’s mission, programs,and impact—perfect for sharing duringmeetings or leaving behind afterconversations to provide a clearunderstanding of the organization’s workand value.VCEE ONE PAGER

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0 52 0 2 5 | V C E E B O A R D O R I E N T A T I O N W E L C O M E P A C K E T OUR NETWORKCHRISTOPHERNEWPORT UNIVERSITYUNIVERSITY OF MARYWASHINGTONGEORGE MASON UNIVERSITYUVA’S COLLEGE AT WISEJAMES MADISON UNIVERSITYVIRGINIA COMMON-WEALTH UNIVERSITYVIRGINIA TECHUNIVERSITY OF LYNCHBURGDr. Amrita DharDirectorDr. Rik Chakraborti DirectorDr. Zafar KhanDirectorPatrick DeRosaAssociate DirectorDr. Stephen DayDirectorLauren ShifflettAssociate DirectorDr. Cheryl AyersCo-DirectorAnne ChamberlinDirectorin partnership with colleges and universities, VCEE supports a network of Centersfor Economic Education across Virginia. The Centers are collaborative hubs for K-12teachers, school divisions and local businesses. Institutes and workshops providetraining and up-to-date resources.

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The Virginia Economic EducatorAwards recognize educators fromaround Virginia who havedemonstrated excellence,creativity and innovation inteaching economics and personalfinance.2 0 2 5 | V C E E B O A R D O R I E N T A T I O N W E L C O M E P A C K E T 1 0VCEE PROGRAMSThe Virginia Economics &Personal Finance Challenge is anopportunity for students todemonstrate their knowledge ofpersonal finance and economicliteracy by competing with otherstudents across the state.Reading Makes Cents is astatewide reading challenge for allelementary schools designed tointroduce basic financial conceptsto K-5 students. All Virginiaelementary school librarians areinvited to complete a simpleapplication in order to bringReading Makes Cents to yourschool.In addition to providing professional development, VCEE offers a variety of programsthat engage Virginia’s K-12 students and their teachers, enabling the students todeepen and demonstrate their knowledge of economics and personal finance.

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The Stock Market Game™ is acomprehensive economics andpersonal finance educationprogram. Small student teams of 2-4 students, compete for awards byinvesting $100,000 in a virtualportfolio.2 0 2 5 | V C E E B O A R D O R I E N T A T I O N W E L C O M E P A C K E T 1 1VCEE PROGRAMSThis cohort of highly-qualifiedPersonal Finance Teacher Fellowswill offer personal financeprofessional development andresources to other teachers in theirschool, school division, or region. Inthis way, the VCEE can dedicatemore personal finance resourceswhere they will have a meaningfulimpact.A Mini-Economy is a flexible andcustomizable classroom programthat usually it runs for weeks oreven months. In a classroom mini-economy, students have classroomjobs, earn play money, makespending and saving decisions,shop at the class store, and evenstart a classroom business.

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VCEE STRATEGIC IMPERATIVES 1 2Grow Sustainable Revenue by Diversifying Sources and Expanding GeographicSupport1.Increase the number of foundation partners from 4 to 6.2.Secure multi-year commitments from three funding partners.3.Increase the number of non-financial services corporate partners from two to four.4.Recruit a more diverse board by focusing on adding members less than 40 years old, ofminority race, from non-financial services sector, female, and not from Central Virginia.Increased each dimension from current levels.Drive Excellence in Content, Delivery and Outcomes1.Ensure that programs and classroom resources are relevant, accessible, interactive, classroom-ready, and properly positioned.2.Reach and teach more teachers per year, evidenced by our metrics.3.Develop specific outcome measurements that clearly demonstrate the impact of VCEEprograms (on Virginia’s teachers and students, including CRA-eligible populations) and reportregularly to the Board.4.At the opportune time, advocate with relevant stakeholders for a licensure endorsementrequirement to teach the EPF course.5.Advocate for the recognition of an Economics and Personal Finance course that qualifies as averified student credential toward graduation, similar to the W!SE test in personal finance.Raise Awareness of VCEE’s Mission, Programs, and Impact1.Expand our networks through better leveraging of the VCEE Board.2.Make it easier for people to be involved – create more volunteer opportunities. The goal isthree new contracts in education.3.Enhance VCEE’s visibility and reach by expanding advertising in teacher and businesspublications, launching a VCEE podcast, increasing presence at educational conferences, andleveraging celebrities and VCEE Board members. To also include utilizing the RichmondChamber of Commerce communications and resources to amplify our message.4.Develop a VCEE branded booklet/teaching calendar for release during peak teacher planningmonths, specifically targeting May, mid-July, mid -August, mid -December and mid-January.5.Develop clear and concise messaging strategies to effectively communicate the value andimpact of VCEE, promoting equitable education and economic access. Tailor these messagesfor diverse stakeholders and audiences. Goal is the creation and execution of a documentedstrategy.Enhance messages and clearly define our value proposition.Emphasize the role of education as an equalizer that benefits less advantaged students, inparticular.Improve storytelling ability by developing narratives that resonate with individuals orgroups whose lives have been positively impacted by VCEE.2 0 2 5 | V C E E B O A R D O R I E N T A T I O N W E L C O M E P A C K E T REFRESHED 2023

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1 32 0 2 5 | V C E E B O A R D O R I E N T A T I O N W E L C O M E P A C K E T (804) 828-1627301 W. Main Street, Box 844000Richmond, VA 23284-4000vcee.orgvcee@vcu.eduDonation: As we get close to the end of the fiscal year for Virginia Council on EconomicEducation (June 30th), it is important that we show our donors that all BoardMembers have donated to VCEE. If you have not yet made your donation, please do so by June 15, 2025. Here are theways you can fulfill that request: Online donation: By Mail: Via Stock Transfer: Thank you for being a valued member of VCEE’s Board. We appreciate the work youare doing and look forward to doing more with you over the next year. VCEE BOARD DONATION LETTERTruist Investment ServicesDTC# 0226Account: Virginia Council on Economic Education Account Number: WA7-134731Contact: Mary Hagan(804) 782-8823 Virginia Council on Economic Education 301 W. Main St., Box 844000 Richmond, VA 23284-4000 https://vcee.org/donate/

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CONFLICT OF INTEREST POLICY 1 4This Conflict of Interest Policy of the Virginia Council on Economic Education (the “VCEE”) (i)describes when a conflict of interest exists; (ii) identifies individuals who are subject to this policy;(iii) addresses the duty to disclose conflicts of interest; (iv) specifies procedures to be followed inmanaging conflicts of interest; and, (v) provides for annual certifications with regard to this policy.01Conflict of Interest. A conflict of interest exists when a person covered underthis policy is in a position to take action in his or her official capacity, such asby making a decision, casting a vote, or influencing others with decision-making authority, that (i) will materially benefit that person either financiallyor otherwise, whether directly or indirectly, or (ii) that would provide amaterial benefit to another organization with which that person is involved insuch a way that would compromise the fiduciary duties that person owes tothe VCEE. A person may derive a financial benefit indirectly under this sectionwhen he or she is in a position to take official action that may provide afinancial benefit to a company with which such person is affiliated; however, aconflict of interest shall not be deemed to exist under this policy unless thefinancial benefit is material.02Individuals Covered. This policy covers any individual serving as an officer ordirector of the VCEE.03Duty to Disclose. An officer or director who has an actual or potential conflictof interest has a duty to disclose it to the VCEE’s Board of Directors. Inconnection with the disclosure of a potential conflict of interest, the officer ordirector shall be given the opportunity to present all material facts to theBoard so that the Board may determine whether an actual conflict of interestexists. The officer or director shall leave the Board meeting for such time as theBoard may take to make such a determination.04Managing Conflicts of Interest. If an officer or director discloses to the Boardthat he or she has an actual conflict of interest, or the Board otherwisedetermines that such a conflict exists, such officer or director shall notparticipate in any Board discussion or vote on the transaction orarrangement that is the subject of the conflict, and shall leave the Boardmeeting for such time as the Board may take to discuss and vote on thematter.05Annual Certification. Each officer and director covered by this policy shall signan annual certification affirming that he or she: (i) has received a copy of thispolicy; (ii) has read and understands the policy; (iii) has agreed to comply withthe policy; and, (iv) understands that the VCEE is a non-profit entity that, inorder to maintain its federal tax exemption, must engage primarily in activitiesthat accomplish one or more of its tax-exempt purposes.2 0 2 5 | V C E E B O A R D O R I E N T A T I O N W E L C O M E P A C K E T

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VCEE BOARD OF DIRECTORS -COMMITTEE ENGAGEMENT 1 5The Board of Directors works with and through a committee framework.Committees generally meet once or twice a quarter with more as needed andagreed upon. THE FOUR MAJOR COMMITTEES ARE: ___Development Committee: tasked with increasing theconnections between VCEE and donors, includingcorporations, foundations and individuals. This Committeeworks with the development staff at VCEE. ___Finance Committee: oversees VCEE’s financial functions,including investments, budgets, financial reports, and audits.It collaborates with the Governance Committee to reviewfinancial policies and internal controls. The Treasurer servesas the Committee Chair. ___Governance Committee: handles Board nominations, officerselections, and committee assignments, aiming to reflectVirginia’s diversity. It oversees Board service responsibilitiesand recommends updates to Bylaws and policies. ___Programs Committee: oversees long-term planning,assessment, and evaluation of VCEE’s educationalprograms, ensuring their effectiveness and alignment withorganizational goals. It provides regular reports to the Boardon program performance. 2 0 2 5 | V C E E B O A R D O R I E N T A T I O N W E L C O M E P A C K E T Please mark by the desired committee for participation and return form toGovernance Chair, Lynne Mallory, lmallory@EdgewaterAsset.com. If acommittee is not selected, you will be designated as a participant on thePrograms Committee or on an as-needed basis.

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Please complete both on or before December 31 to help usachieve the FY25 board-approved goals of 100% personalparticipation and $38,000 for the VCEE Annual Fund. Your prompt response now not only signals to otherdonors and prospects that VCEE is worthy of their support,but also frees up VCEE staff to solicit external funds. And don't forget your password to this protected webpage is vceeboard.Click here to complete your FY25 Board Packet.C O N T A C T1 6VCEE's Statement of Intent Formand Conflict of Interest PolicyAcknowledgment are now online.Use the password vceeboard toaccess this protected page. Virginia Council onEconomic Education301 W. Main St., Box 844000Richmond, VA 23284-4000www.vcee.orgdscottok@vcu.eduvcee@vcu.edu804.828.1627INSTRUCTIONSCOMPLETE BOARD PACKET2 0 2 5 | V C E E B O A R D O R I E N T A T I O N W E L C O M E P A C K E T

VCEE_Y25 Board Packet

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