New Mission:Money Initiative Tackles Financial Wellness for the Nonprofit Workforce
ATLANTA, GA, July 18, 2018 – As the next step in its ongoing mission to help nonprofits succeed, the Georgia Center for Nonprofits (GCN) has launched Mission:Money, a unique initiative designed to increase financial wellness among mission-minded professionals. This partnership between GCN and the SunTrust Foundation addresses a critical sector need by delivering free resources and training for employees and employers both.
It is a well-documented fact that financial stress erodes productivity: Because they’re nearly five times more likely to be distracted on the job, each financially-stressed employee can cost a business $5,000 every year.1 Notably, more than half of nonprofit employees responding to a national Work for Good survey stated they were financially uncomfortable. Too often, they are also unfamiliar with opportunities like public service loan forgiveness or income-based student loan repayment.
Workplace financial wellness programs, the kind that begin at missionmoney.org, are a win-win-win proposition for employers and employees both: They can improve morale, productivity, and loyalty, resulting in higher retention, reduced costs, and greater impact. They are also cost-effective – well within reach of every nonprofit, but largely overlooked.
“We created Mission:Money to help nonprofits give their people the knowledge, skills, and tools to improve their financial well-being,” said GCN President and CEO Karen Beavor. “We don’t just owe it to our people to help them manage weighty fiscal matters – supporting talent with benefits like a financial wellness program is essential to recruiting and retaining in an increasingly competitive job market.”
Mission:Money takes nonprofit employees through eight vital components of financial wellness, from establishing a foundation to understanding taxes, credit, retirement planning, insurance, education funding, big purchases, and employer benefits. It also includes an in-depth Employer Guide to help nonprofit leaders design an organizational financial wellness program.
“The SunTrust Foundation is pleased to support our partner, the Georgia Center for Nonprofits, and the launch of Mission:Money, which exemplifies SunTrust’s purpose of ‘Lighting the Way to Financial Well-Being,’” said Jolie Maxwell, Vice President, Community and Government Affairs, SunTrust Bank. “With the tools and resources found at missionmoney.org, the individual is met where they are in their journey from financial stress to financial confidence. The SunTrust Foundation is honored to be part of this enrichment for nonprofit professionals, and what we know will be a rewarding experience for all.”
Thanks to GCN’s partnership with SunTrust Foundation, along with support from Mutual of America and Marsh & McLennan Agency, GCN is committed to developing financial wellness resources and training support for both employers and employees – all entirely free for the community.
“Our ultimate goal is to advance financial wellness throughout the sector,” said Beavor. “We are excited to initiate this needed progress with Mission:Money.”
About Georgia Center for Nonprofits
GCN’s mission is to build thriving communities by helping nonprofits succeed. Through a powerful mix of advocacy, solutions for nonprofit effectiveness, and insight-building tools, we provide nonprofits, board members, and donors with the tools they need to strengthen the mission-driven organizations that make a difference on important causes throughout Georgia and beyond. To learn more about GCN, visit gcn.org, sign up to receive our communications, and connect with us on LinkedIn, Facebook and Twitter.
1 2018 Employee Financial Wellness Survey produced by PricewaterhouseCooper (PwC)