FINRA Investor Education Foundation

What FINRA Investor Education Foundation does

The FINRA Investor Education Foundation is a Washington, D.C.-based 501(c)(3) nonprofit organization affiliated with the Financial Industry Regulatory Authority, Inc. (FINRA), operating under trademark license to deliver financial literacy research, education, and consumer protection programs across the United States. The Foundation's core offering is the National Financial Capability Study (NFCS), a longitudinal research platform that has collected data from over 150,000 U.S. adults across six triennial waves (2009-2024), supplemented by the NFCS Investor Survey for non-retirement account holders. Its technology stack consists of research and survey infrastructure, interactive knowledge quizzes, and a state-level Geography of Finance mapping tool — all distributed as free public goods rather than commercial products.

The Foundation's business model is grant-making and programmatic funding rather than revenue generation. It does not sell products or services; instead, it distributes grants of approximately $50,000-$100,000 to IRS-designated 501(c)(3) organizations and public colleges and universities, and funds multi-channel education programs including Financial Wellness at Work (with United Way Worldwide), the Military Spouse Fellowship Program (with AFCPE and the National Military Family Association), Targeting Investment Fraud training (with NW3C), library grants, and Consumer Insights research series. Primary audiences are U.S. consumers, retail investors, military families, lower-income employees, and library patrons; research outputs also serve policymakers and academic researchers. Operational scale is small (1-10 employees), with program delivery primarily executed through a partner ecosystem of nonprofits, universities, and law enforcement organizations.

Name

FINRA Investor Education Foundation

Legal name

FINRA Investor Education Foundation

Website

https://finrafoundation.org

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

1–10 employees

Short description

The FINRA Investor Education Foundation is a Washington, D.C.-based 501(c)(3) nonprofit that produces the National Financial Capability Study and funds financial literacy research, grants, and education programs for U.S. consumers, retail investors, military families, and underserved communities through a partner ecosystem.

Ownership category

akta.pro rank

Product category

Financial Literacy Research and Education

NAICS

Educational Support Services (611710)

akta.pro primary industry

Education Grantmaking Foundations (BPAGAKAK)

akta.pro secondary industry

Financial & Consumer Literacy (Banking, Credit, Contracts) (EDAAAAAG)

Keywords

• Financial literacy education
• Investor education research
• Financial capability studies
• Consumer fraud prevention
• Nonprofit foundation grants

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Foundation Funding: The FINRA Investor Education Foundation operates as a non-profit organization funded through its relationship with FINRA (Financial Industry Regulatory Authority). The Foundation generates and shares knowledge through research programs and distributes grants to eligible organizations.
2. Grant Program: The Foundation provides grants of approximately $50,000-$100,000 to IRS-designated 501(c)(3) organizations and state/public colleges and universities for financial literacy research and education projects.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

The FINRA Investor Education Foundation is a 501(c)(3) nonprofit research and education foundation that conducts the National Financial Capability Study (NFCS), funds financial literacy grants, and delivers educational programs for U.S. adults, military families, lower-income employees, and library communities. It produces free research publications, datasets, interactive maps, knowledge quizzes, and targeted programs such as Financial Wellness at Work, the Military Spouse Fellowship Program, and Empowering Fraud Fighters.

Product overview

The FINRA Investor Education Foundation operates as a non-profit research and education organization, not a commercial software product company. Its primary offerings consist of research studies and surveys (primarily the National Financial Capability Study), educational programs (Financial Wellness at Work, Military Spouse Fellowship Program), fraud prevention initiatives, and grant funding for financial education research. The NFCS serves as the core research platform providing state-by-state and national data on financial capability. These offerings are free public goods aimed at improving financial literacy rather than commercial software products with modular architectures.

Differentiator

Problem solved

Functional benefit

Brands

• SaveAndInvest: Financial education website focused on helping consumers protect themselves from fraud and make smart financial decisions.

Products and services

• National Financial Capability Study (NFCS) A longitudinal national study providing data on financial capability indicators including behaviors, attitudes, knowledge, and access to financial products and services among U.S. adults, with State-by-State Survey waves of more than 25,000 respondents and a paired Investor Survey for non-retirement account holders.
• Financial Wellness at Work A workplace financial wellness initiative that helps community-based nonprofits deliver financial wellness services to lower-income employees across industry sectors through United Way Worldwide partnerships.
• Military Spouse Fellowship Program A credentialing program offering military spouses the opportunity to earn the Accredited Financial Counselor (AFC) certificate while delivering financial counseling and education to the military community, with fellowship coverage of AFC training and testing costs.
• Consumer Insights on Money and Investing A research series exploring trends and circumstances affecting how Americans manage and invest their money, including studies on fraud detection, investment risk, ESG investing, new investors, and AI-generated financial information.
• Empowering Fraud Fighters A program providing training and resources to law enforcement, consumer advocates, and others to detect, prevent, and respond to financial fraud, including Targeting Investment Fraud (TIF) training delivered with NW3C.
• General Grant Program A grant program funding research and education projects that ensure people in the United States have the knowledge, skills, and tools to make sound financial decisions, with typical awards of approximately $50,000-$100,000 to eligible 501(c)(3) organizations and public universities.
• Millennials and Investing Research A 2018 research study published with CFA Institute examining barriers preventing millennials from investing, generational views on investing, and attitudes toward financial technologies such as robo-advisors.
• Financial Literacy Quizzes Online interactive quizzes including a Financial Literacy Quiz and Investing Knowledge Quiz that allow users to test their knowledge against national benchmarks and state-level peers.

Quantifiable outcome

• One-third of U.S. households lack financial resilience, with veteran households showing approximately 20% greater odds of financial resilience compared to non-veteran households
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles7 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• National White Collar Crime Center (NW3C)coreStrategic or Co-development Partner · 1 January 2012Partnership since 2012 to deliver Targeting Investment Fraud (TIF) training to law enforcement officers, investigators, and prosecutors. NW3C hosts TIF classes covering security hallmarks, investigative strategies, and fraud prevention.
• National Military Family AssociationcoreStrategic or Co-development Partner · 1 January 2006Original founding partner in the Military Spouse Fellowship Program launched in 2006, supporting financial education and counseling to service members and military families.
• United Way WorldwidecoreStrategic or Co-development PartnerThe Financial Wellness at Work project is administered in collaboration with United Way Worldwide, helping community-based nonprofits provide workplace financial wellness services for lower-income employees across industry sectors. United Way chapters implement workplace financial wellness programs with Foundation funding.
• AFCPE (Association for Financial Counseling and Planning Education)coreStrategic or Co-development PartnerPartnership with AFCPE to deliver the Military Spouse Fellowship Program, which offers Accredited Financial Counselor (AFC) certification to military spouses. The fellowship covers costs associated with AFC training and testing.
• Give an HourcoreStrategic or Co-development PartnerPartnership to document the emotional journey of financial fraud victims through the Financial Fraud Victim Journey Map, providing mental health support tools including provider trainings and peer support programs.
• NORC at the University of ChicagocoreStrategic or Co-development PartnerResearch partner for multiple NFCS studies including new investor research, ESG investing studies, and Consumer Insights on Money and Investing research series.
• Zeldis Research AssociatesminorStrategic or Co-development PartnerResearch partner for the 2018 Millennials and Investing study conducted in collaboration with CFA Institute.
• CFA InstitutecoreStrategic or Co-development PartnerCollaborating organization on the 2018 research study 'Uncertain Futures: 7 Myths about Millennials and Investing'.
• RAND CorporationminorStrategic or Co-development PartnerPartner for longitudinal NFCS surveys through the American Life Panel, providing third and second wave longitudinal data.

Scale indicators6 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Operation HOPE: Operation HOPE is a nonprofit providing financial literacy and economic education, particularly to underserved communities through workplace and community programs. It overlaps closely with the FINRA Foundation's Financial Wellness at Work and community grantmaking work.
• Junior Achievement USA: Junior Achievement USA is a large nonprofit delivering financial literacy, work-readiness, and entrepreneurship education to K-12 students, with a research and evaluation function similar to the FINRA Foundation's grantmaking and data work. Both organizations produce and disseminate financial education research and curricula at scale.
• GreenPath Financial Wellness: GreenPath is a national nonprofit credit counseling and financial education provider offering workplace financial wellness programs and consumer-facing counseling. It executes the kind of last-mile financial wellness delivery that the FINRA Foundation funds through United Way and other community partners.
• National Endowment for Financial Education (NEFE): NEFE is the closest direct peer: a private nonprofit foundation funding independent consumer financial education research and distributing free resources to the public. It operates in the same financial literacy research and education space as the FINRA Foundation, with comparable reliance on applied research and consumer-facing tools.
• Jump$tart Coalition for Personal Financial Literacy: Jump$tart is a nonprofit coalition that coordinates financial literacy education across K-12, higher education, and community programs, very similar in mission to the FINRA Foundation's grantmaking and research work. Both organizations publish research and convene partners to drive consumer financial education nationwide.
• National Foundation for Credit Counseling (NFCC): NFCC is a national nonprofit network that supports credit counseling and financial education, including research and consumer-facing tools. It overlaps with the FINRA Foundation on financial education research, content distribution, and partnerships with community-based providers.
• Council for Economic Education: The Council for Economic Education is a national nonprofit that delivers financial and economic literacy programs and teacher training, with a research arm producing state-of-capability data analogous to FINRA Foundation's NFCS. Both organizations sit at the intersection of consumer financial education research and curriculum/program deployment.
• FoolProof Foundation: FoolProof is a nonprofit that provides financial literacy education, particularly to youth and young adults, with free curriculum and resources. It is a focused direct peer in delivering consumer-facing financial education content, although at a smaller scale than the FINRA Foundation.

Broad incumbents

• SEC Office of Investor Education and Advocacy (OIEA): The SEC's Office of Investor Education and Advocacy produces free investor education, fraud awareness materials, and research, directly addressing retail investors. It is a broader incumbent with overlapping thematic focus on investor knowledge and fraud prevention, complementary to the FINRA Foundation's investor survey and fraud fighter work.
• FDIC Money Smart: FDIC's Money Smart is a federal government financial education program producing free curricula and research on consumer financial capability, operating as a broader incumbent in the same space as the FINRA Foundation. It serves a comparable end audience but with regulatory rather than foundation funding.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/FINRAFOUNDATION
• Facebookfacebook.com/FinraFoundation
• LinkedInlinkedin.com/company/finra-investor-education-foundation

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Funding overview

Funding rounds

Investors

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M&A

Investments

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Frequently asked questions about FINRA Investor Education Foundation