About Us

Introduction

FLF Mission

The Financial Literacy Foundation is a non-profit organization created to address the growing problem of financial illiteracy among young consumers.

History

Working in the financial services division at Skadden, Arps, partner Andrew L. Sandler experienced first-hand the devastating effects of predatory lending and unfair banking practices. After 20 years of advising financial institutions on compliance issues, he realized that it was equally important to teach consumers how to make educated financial decisions. Knowing that most consumers develop poor borrowing habits early on in life, Mr. Sandler decided to start at the beginning – with teenagers.

Mr. Sandler partnered with Skadden Arps associate Jonice Gray Tucker and began traveling to high schools to talk to the students about building credit through responsible borrowing and repayment, how to finance a college education, and the importance of budgeting and personal financial management.

During the summer 2004, Mr. Sandler began working with Michelle Carhart to establish a foundation that would develop and incorporate Financial Management elective courses in Washington, D.C. public and public charter high schools. Along with Jonice Gray Tucker, and with the help of Skadden, Arps partner Fred T. Goldberg, Jr. and Skadden, Arps associate Emily Lam, the Financial Literacy Foundation was incorporated in October 2004.

Currently, the Board of Directors is comprised of those individuals who helped in FLF’s creation – Andrew Sandler, Fred T. Goldberg, Jr., and Jonice Gray Tucker – as well as three additional members. Two of the additional members Robert Cook and Doug Schiffman bring knowledge and expertise in their respective areas. The newest member of the board, Jonthan Kivell, is the founder of the Educated Consumer Project, which is a program offered by FLF in Fall 2008. Joshua Montross coordinates this after school program taught by university volunteers. Michelle Carhart serves as the executive director.