Providing Financial Education

School of Economics to Open Second Location at UMB Financial Corporation's Downtown Campus

New location will allow school to double its impact, serve additional
12,000 students each year

School of Economics has joined with UMB Financial Corporation to open a second location inside the UMB building at 928 Grand Blvd. This expansion and new location will provide access to interactive, financial education programs to more Kansas City area students, with an emphasis on those from underserved school districts.

For more information, please see the complete press release below.


For Educators

Second location - School of Economics at UMB


BLUE SPRINGS, Mo. (Oct. 30, 2018) — School of Economics, a 501(c)3 nonprofit organization that provides high quality, reality-based educational experiences in Kansas City, has joined with UMB Financial Corporation to open a second location inside the UMB building at 928 Grand Blvd. This expansion and new location will provide access to interactive, financial education programs to more Kansas City area students, with an emphasis on those from underserved school districts.

School of Economics currently has one location in Blue Springs, Mo., where it serves more than 12,000 students annually with a curriculum-based field trip that aligns with grade level learning standards. The expansion to a second location in downtown Kansas City will allow the organization to eventually double its impact. For many years, School of Economics has filled its schedule an entire school year in advance and continues to have a waiting list.

“While we’re thrilled that teachers and students have such a large interest in our program, we always struggle to accommodate requests due to the limited number of days in the school year,” said Sue-Ann Johnson, director of School of Economics. “With the help of UMB, this expansion will provide much-needed resources, including space and volunteers, to expand the opportunity of an economic simulation to more area youth, including students from underserved areas.”

During the next several months, UMB will transform nearly 4,000-square-feet in its building at 928 Grand Blvd. into the School of Economics at UMB. UMB will then lease the space back to the nonprofit for $1 annually.

“At UMB, we have always believed that it is critical for children to learn the basics of personal finance and money management,” said Jim Rine, president and CEO of UMB Bank. “We are beyond honored and excited to work with School of Economics to help Kansas City youth develop a solid financial foundation at an early age. The real-world experience kids have at School of Economics introduces them to career options, develops leadership skills, encourages teamwork, and lets them be in charge of their personal finances — all while tackling the challenges, and enjoying the rewards, of running a business.”

UMB offers its associates 16 hours of paid time off for volunteerism each year. With School of Economics at UMB located at the financial institution’s downtown campus, individuals and teams of associates will be able to volunteer with the program throughout the year.

School of Economics at UMB is anticipated to open in time for the 2019-2020 school year.

Key Information About the Project
  • The downtown Kansas City location at UMB Bank will help School of Economics meet the overwhelming need for financial education program in Kansas City and will specifically work to provide opportunities for underserved schools.
  • School of Economics at UMB will welcome and actively source community volunteers who work and live downtown.
  • UMB will lease the approximately 4,000-square-foot space to School of Economics for $1, annually.
  • UMB commits to providing grants to help the School of Economics cover operating expenses.
  • The opening of this second location in 2019 will align with the School of Economics 25th anniversary.






About School of Economics

School of Economics is a nonprofit organization and financial education facility. Business concepts and marketplace skills are put into practice using well-developed programs that keep elementary school students interested and engaged in the learning process. Over 12,000 students attend the School of Economics every year with the help of more than 3,500 parent and community volunteers.Reality-based education teaches children how to prepare for their financial future.
 

School of Economics was founded in 1994 as a 501(c)3 non-profit organization through the collaborative efforts of teachers, volunteers, local business owners, and the City of Blue Springs. It currently serves 40 different public school districts plus private schools, charter schools, and home school groups.

The mission of the organization is to provide high quality, reality-based educational experiences that prepare young people to understand and apply basic marketplace concepts and skills, and expose them to business-related careers.
 


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