New York – July 15, 2010 – Gallup and Operation HOPE Inc. (HOPE) are pleased to announce the inaugural members of the Gallup-HOPE Financial Literacy Index Advisory Board. These noted leaders will play key roles in enhancing and promoting the usefulness and integrity of the Gallup-HOPE Financial Literacy Index. By bringing together thought leaders on financial literacy from business, government, finance and education, Gallup and HOPE expect this ground-breaking index will clearly make the case that financial literacy in our youth, combined with hope, engagement and well-being, promotes academic success. Further, the index results can help rally support behind financial literacy initiatives that encourage America’s youth to fully engage in education, graduate high school, and ultimately attain their economic goals.
Led by Co-Chairs Gallup Chairman and Chief Executive Officer Jim Clifton and Operation HOPE Founder, Chairman and Chief Executive Officer John Hope Bryant, the Gallup-HOPE Financial Literacy Index Advisory Board is comprised of some the most respected members in their fields:
- Steve Bartlett, President and Chief Executive Officer, The Financial Services Roundtable
- Arthur C. Brooks, President, American Enterprise Institute
- Ellyn Brown, President, Brown & Associates
- Alex Cummings, Chief Administrative Officer and Executive Vice President, Coca Cola Company
- Antonio Flores, President and Chief Executive Officer, Hispanic Association of Colleges and Universities
- Richard Hartnack, Vice Chairman, U.S. Bancorp
- John Jackson, President and Chief Executive Officer, Schott Foundation
- Marguerite Kondracke, President and Chief Executive Officer, America's Promise Alliance
- Daria Sheehan, Senior Program Officer, Citigroup Foundation
- Fred Stennis, Program Manager, U.S. Department of Education
"If we have learned anything in the past 18 years in bringing financial literacy to youth, it is that many people see financial literacy as primarily a mathematical exercise. We have learned that spending is as much about psychology as it is math,” said Bryant, who also wrote business bestseller, LOVE LEADERSHIP: A New Way to Lead in a Fear-Based World. “By bringing together some of the best minds in the industry to contribute to this board, HOPE will continue to keep financial literacy at the forefront of the national agenda as well as develop and produce state-of-the-art financial literacy curriculum and empowerment programs for those communities who need it most.”
“Our students are in the fight of their lives and for the U.S. to compete successfully, we need to ensure that our nation is focused on new strategies and solutions that ensure all kids are ready for college, work, and life in the 21st century,” said Clifton. “The leaders of this board will be instrumental in helping to create the key initiatives to guarantee the ultimate success of Operation HOPE.”
The Gallup-HOPE Financial Literacy Index, the first of its kind, will measure youth's relationship to financial literacy and how they envision their economic future. Specifically, the index will assess how youth perceive their financial responsibilities and opportunities, evaluate their financial knowledge and analyze how that relationship factors into their hope and wellbeing. Gallup research has already proven that “hope” is a more powerful indicator of academic success and graduation than GPA and ACT scores. The Gallup-HOPE Index will develop a national baseline measuring the perception and attitudes youth have towards financial literacy, free enterprise, and entrepreneurship, and will also link those key attitudes to important academic outcomes such as GPA and retention in schools.
The Index will assess American youth in targeted cities and compare their results to a national baseline to enable charting the effects of financial literacy education in current school curriculums across the country. Tangible numbers will provide policymakers and community-based organizations with an objective and continuous metric for youth financial literacy across America and a method for tracking results of financial literacy programming.
Guided by Landon Taylor as senior consultant and Sharon Jones as deputy director of the HOPE Office of Innovation, Research and Assessment, the Gallup-HOPE Financial Literacy Index will help set a measurable standard at HOPE and encourage advancement and progress.
Landon Taylor noted, “If we are to make a difference in the lives of youth and how they perceive money, we first have to get a better understanding of where they are coming from. Empowering youth in understanding our financial system is a skill that will help them in all areas of their lives. This board is focused on making that difference.”
Specific objectives and immediate next steps for the Board include reviewing the national field test results and recommending modifications to survey items, supporting the launch of the Index in strategic school districts as part of the National Student Poll in October 2010, and ultimately, reviewing studies presenting Index findings.
Gallup has studied human nature and behavior for more than 75 years. Gallup's reputation for delivering relevant, timely, and visionary research on what people around the world think and feel is the cornerstone of the organization. Gallup employs many of the world's leading scientists in management, economics, psychology, and sociology, and our consultants assist leaders in identifying and monitoring behavioral economic indicators worldwide. Gallup consultants help organizations boost organic growth by increasing customer engagement and maximizing employee productivity through measurement tools, coursework, and strategic advisory services. Gallup's 2,000 professionals deliver services at client organizations, through the Web, at Gallup University's campuses, and in more than 40 offices around the world.
About Operation HOPE
Since 1992, Operation HOPE has been America’s leading Financial Literacy and Empowerment nonprofit. With a presence in 70 U.S. cities and South Africa, HOPE has raised more than $900 million in its pursuit of educating, assisting and inspiring the next generation of global stakeholders. With the support of more than 400 private sector companies, 1500 nonprofit organizations and schools and 100 government partners, Operation HOPE has provided over 1.2 million low-wealth individuals with economic education and financial literacy support and empowerment. Taking the lead at making sure our free enterprise system is relevant to all underserved individuals and communities, Operation HOPE has taken on the responsibility of piloting the Silver Rights Movement and ensuring that free enterprise and capitalism work to provide a better future for all. To learn more about HOPE, visit www.operationhope.org.