Co-founder of Wells Fargo Foothill and Pioneer of North American Commercial Finance Donates $1 Million to California Council on Economic Education Amid Rising Concerns Over Financial Illiteracy
Donation intended to inspire other major gifts to improve economic and financial education for California’s K-12 students
For Immediate Release: Wednesday, August 21, 2019
Press Contact: Lexie Nguyen, 562-533-3621; firstname.lastname@example.org
Los Angeles, August 21, 2019 – John Nickoll, co-founder of The Foothill Group, Inc.–which merged with Wells Fargo into what is now known as Wells Fargo Capital Finance, Inc.–has given a $1 million gift to the California Council on Economic Education (CCEE) — the leading nonprofit provider of economic and financial education for K-12 educators and students in California. Nickoll is the latest to join the fight to provide financial education for students amid growing financial illiteracy levels and widening economic inequality across the UnitedStates.
The gift is intended to motivate others to support the 60-year old Nonprofit, and economic and financial education and Los Angeles County. The donation will also help to sponsor a recently announced partnership between the Los Angeles Unified School District and CCEE to engage high school students and their families in structured dialogue on personal finance topics at free workshops.
“It is my deepest desire that this gift will inspire others to support the work of CCEE. For too long we have remained complacent about ensuring California’s students are economically and financially literate upon graduation. We expect them to figure it out on their own,” remarked John Nickoll. “A bright future for our families depends on the future success of California’s students. If economic and financial concepts aren’t included in their education, are we truly preparing them for life after graduation?”
CCEE trains K-12 educators on how to teach economics and personal finance by connecting them with standards-based professional development in economic and financial instruction.
“Ultimately, we are striving towards an economically and financially literate state, so that all Californians can enjoy economic security. With CCEE’s approach, we effectively impact 100 students for every educator trained.” states CCEE’s president and CEO, Denise Gutierrez. “John Nickoll’s gift makes it possible to continue our important work and expand our reach across the entire state.”