NEW YORK— Colbeck Capital Management, a leading, middle-market private credit manager focused on strategic lending, is proud to support Cents Ability, a nonprofit organization with a mission of promoting financial literacy. Focused on teens and high school students by teaching them how to achieve their goals through responsible financial management, Cents Ability’s programs rely heavily on donations and supporters. All proceeds are put toward helping empower the next generation of teens with the knowledge of finance through literacy programs.
Cents Ability’s curriculum is unique in that it is developed in accordance with the National Endowment for Financial Education and is delivered by volunteers who are looking to give back to their communities. Teachers complete rigorous training sessions and are encouraged to participate even if they have only limited time and resources to give. Underserved communities can greatly benefit from programs that help educate teens regarding best practices in financial management.
The need for financial literacy is more pressing than may be imagined by some, but Cents Ability has collected a bevy of data supporting its mission and underlying challenges. Catering primarily to teens, data gathered during pre-workshop questionnaires paint a grim picture of the state of education when it comes to financial topics. The majority of teens (54 percent) state that financial or money topics never or rarely come up in conversations with family. And 60 percent of sites that host Cents Ability events note that program material covers topics that are otherwise excluded from standard curriculums, showing that Cents Ability is filling a vital gap in education.
All workshops are conducted by volunteers representing a variety of industries including accounting, finance, and education. Workshops are designed to take place at different schools and community centers to make them as accessible as possible to the student population. All programs are offered completely free of cost through generous support and contributions from partners and in-kind donations.
About Colbeck Capital Management
Colbeck Capital Management is a leading, middle-market private credit manager focused on strategic lending. Colbeck partners with companies during periods of transition, providing creative capital solutions. Colbeck sponsors its portfolio companies through consistent engagement with management teams in areas such as finance, capital markets and growth strategies, distinguishing itself from traditional lenders. Founded in 2009 by Jason Colodne and Jason Beckman, the principals have extensive experience investing through market cycles at leading institutions such as Goldman Sachs and Morgan Stanley.