(Mississippi Association of Financial Institutions of Deposit Education Foundation, Inc.)
The mission of the MBA Education Foundation is to promote banker and consumer education in Mississippi. Initially, activities of the Foundation will include funding and operation of existing scholarship programs and supporting financial education activities of MBA member banks. The ultimate goal is to promote the success of Mississippi banks and their customers through education and, in the process, present a positive, accurate image of the Mississippi banking industry.
The Foundation was established to provide a stable and growing source of funding for supported programs and to allow for the development of new programs. Initial funds for the Foundation were provided by the Mississippi Young Bankers Section (MYB), which transferred its scholarship funds to the Foundation. Future funding will come from donors to the Foundation.
Structure & Governance
The MBA Education Foundation is a non-profit Mississippi corporation established by the MBA Board of Directors to operate as a subsidiary of the association. The Foundation is certified as a charitable organization under Mississippi law, and it is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code.
The Foundation is governed by a nine-member Board of Directors, made up of six bankers who serve on the MBA Executive Committee and three bankers who serve as officers of MYB.
Current Board members
Citizens Bank & Trust, Marks
Trustmark National Bank, Jackson
Community Bancshares Inc., Brandon
FNB Oxford Bank, Oxford
Planters Bank & Trust Company, Greenville
Copiah Bank, N.A., Hazelhurst
Bank of Kilmichael, Kilmichael
Bank of Kilmichael, Kilmichael
Magnolia State Bank, Hattiesburg
The Foundation funds and operates the following scholarship programs previously operated by MYB:
These are annual awards to college seniors studying banking at public-supported universities in Mississippi. Each year, five finalists receive cash awards. One of the finalists is chosen to be the “Swayze Scholar” and receives an additional cash award and the Swayze medallion.
Leadership Scholarship – This is an annual award given to a college junior studying banking at a public-supported university in Mississippi.
Merit Scholarship – This annual award is given to a high school senior in Mississippi who is the son or daughter of an officer or employee of a MBA-member bank.
Honor Graduate Awards, Mississippi School of Banking (MSB) – Each year, the Foundation gives cash awards to the student or students achieving the top academic rank in the graduating class of MSB.
The Foundation supports activities of MBA, MYB and member banks to deliver personal finance training in schools and communities across the state. These activities include programs sponsored by MBA and MYB, as well as those presented by individual banks. Current programs include:
'A Banker in Every Classroom’ – This MBA-sponsored program brings teachers and bankers together in local schools for classroom presentations on personal finance topics. The third annual “A Banker in Every Classroom Week” was in November, 2013. During this week, banker presentations were made to over 12,000 Mississippi students in grades K through 12. In its first three years, “A Banker in Every Classroom” has reached over 20,000 students in public and private schools in Mississippi.
‘Banking on Your Future’ – This MYB-developed curriculum presents lessons on personal finance issues at various stages of life. It is utilized in school presentations on bank products and services.
American Bankers Association Programs – The ABA sponsors the Personal Economics Program (“PEP”) in which state banker groups compete to maximize the number of students and others they reach with financial education activities. MYB has received several awards from ABA for its success in the PEP program. Additionally, the MBA and MYB promote Mississippi banks’ participation in the ABA’s 'Teach Children to Save' and 'Get Smart About Credit' projects.
How to Make Gifts to the Foundation
The Foundation accepts gifts from banks, bankers and others to support the above-listed scholarship and consumer education programs. Gifts are accepted in accordance with policies established by the Foundation Board. Certain gifts, including designated or restricted gifts or gifts of assets other than cash, are subject to Board approval and must comply with specific rules established by the Board. As a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code, the Foundation may accept tax-deductible gifts as provided by law. Donors should consult their tax advisor regarding questions about the specific tax treatment of any gift.
Click here for a pledge card
FOR MORE INFORMATION:
Contact Mac Deaver, Secretary-Treasurer, firstname.lastname@example.org, or (601) 948-6366.