A wide-ranging group of First State community organizations have been selected to receive grants from the Financial Literacy Education Fund (FLEF) this year.
Gov. Markell’s administration established the Financial Literacy Education Fund in 2010 in the Office of the State Banking Commissioner.
“And the idea was to really take some proceeds from license fees that are charged to businesses that make payday loans and car title loans and use some of those funds to target financial literacy education through organizations across the State,” said Doug Denison, director of community relations for the Delaware Department of State (DOS).
He says the fund is a public-private partnership, “We take those funds….we evaluate grant applications from all types of organizations - as long as they have some sort of a financial literacy component that they’re going to be offering - we make awards to those organizations.”
Denison says a total of $365,000 has been awarded this year to 23 nonprofit organizations, including $20,000 to the Boys and Girls Clubs of Delaware and $5,000 to the Kalmar Nyckel Foundation.
He says since the program began, approximately $2.6 million has been handed out.
For a complete list of nonprofits that received grants, click here.
