California Foundation Fund (CAFF) is a 501 (c) (3) non-profit, independent, corporation that supports reinvestment, economic and financial self-sufficiency initiatives to help break the cycle of poverty.
The organization was established in response to the chaos caused to low income families, especially minorities, by the financial meltdown. The underpinning cause of the financial failure within under resourced communities was their lack of knowledge about the banking system and financial planning.
Within a short period of time, CAFF conducted financial capacity research, developed financial literacy curriculum standards, published training curriculum, introduced culturally competent financial literacy instructor training courses, published and coordinated multiple entrepreneurial university mini-courses and high school scholarship competitions, and coordinated financial education collaboratives with multiple agencies.
In order to accomplish these programs, CAFF developed partnerships with local training schools; partnered with school districts; established its base of operation at Alliant international University, recruited professors to participate in financial training; participated with the office of the Mexican Consulates to provide financial training to Spanish speakers; participated with multiple city governments; and coordinated financial education week initiatives targeting low-income areas.
CAFF created the California Financial Curriculum Council, (CFCC). CFCC a team of community experts in educational management, behavioral science, research, transactional law, financial services, and community development. CFCC’s purpose is to develop and maintain the standards of financial literacy initiatives. In 2011 CFCC created the standards for financial literacy instructor certification and code of ethics.
Today, CAFF creates financial literacy curriculum and trains educators that execute successful implementations of:
These initiatives often assist residents of lower-income neighborhoods to build wealth and participate in the American financial system. Implemented successfully, these steps help break the cycle of generational poverty.