SIFMA Foundation

What SIFMA Foundation does

SIFMA Foundation is an independent 501(c)(3) nonprofit educational organization founded in 1977 and headquartered in New York City. It delivers financial literacy programs to U.S. K-12 students, teachers, and schools, with cumulative reach of nearly 20 million students and current annual participation of 600,000+ students across all 50 states and every congressional district. Its flagship product, the Stock Market Game (SMG), is an online simulation of global capital markets where students manage a virtual $100,000 portfolio using real market data; the trading platform is powered by Broadridge Financial Solutions.

The product portfolio is modular. SMG serves as the core platform, supplemented by SMG InvestQuest (a self-guided 30-40 minute investing tutorial launched in 2026 for direct consumer access via web and mobile), InvestWrite (a national essay competition), SMG Summer Session (a seasonal competitive variant), Capitol Hill Challenge (a congressional-school matching competition active since 2004 with 8,500+ matches), and Invest It Forward (an industry-wide volunteer initiative). Programs are accessed through teacher-led classroom registration for the core product and through self-serve web/mobile app stores for InvestQuest, with native iOS and Android applications supporting both engagement models.

The foundation operates as a donation-funded nonprofit; all programs are provided free of charge to schools, teachers, students, and families. Revenue is sourced from contributions and grants from over 20 named financial industry firms, foundations, and institutions, including Bank of America, Morgan Stanley, Fidelity, Wells Fargo, UBS, Charles Schwab Foundation, FINRA, Broadridge, and DTCC. The organization is independently governed with no parent company and pursues program validation through third-party research, including an American Institutes for Research study funded by FINRA.

Name

SIFMA Foundation

Legal name

SIFMA Foundation for Investor Education, Inc.

Website

https://stockmarketgame.org

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

11–50 employees

Short description

The SIFMA Foundation is an independent 501(c)(3) nonprofit founded in 1977 that provides free financial literacy programs — primarily the Stock Market Game — to U.S. K-12 students and teachers, reaching 600,000+ students annually across all 50 states, funded by financial industry sponsors.

Ownership category

akta.pro rank

Product category

Financial Education Programs

NAICS

Educational Support Services (611710), Educational Services (611)

SIC

Services-Educational Services (8200)

akta.pro primary industry

Personal Finance & Financial Literacy for Students (EDAMAIAH)

akta.pro secondary industries

Economics & Finance Competitions (Econ Challenge, Stock Market Games) (EDAMAGAI), Investing Fundamentals (Stocks, Bonds, Funds, Risk) (EDAAAJAH), Financial Literacy, Budgeting & Personal Finance (EDAMAHAE)

Keywords

• Financial education programs
• Stock market simulation
• Investing curriculum
• Capital markets literacy
• Personal finance learning

Headquarters

HQ city

New York

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Charitable Donations and Grants: The organization is an independent 501(c)(3) charitable organization funded by generous contributions from financial industry firms, foundations, and institutions. Programs are offered free of charge to all participating schools and students.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels5 records

Core offering

The SIFMA Foundation delivers free financial education programs to K-12 schools and students, anchored by The Stock Market Game — an online simulation where students in grades 4-12 manage a virtual $100,000 portfolio using real market data across stocks, bonds, and mutual funds. Programs are supported by self-guided tutorials (SMG InvestQuest), essay competitions (InvestWrite), a summer session, and a congressional engagement program (Capitol Hill Challenge), all funded by charitable donations from financial industry firms and offered at no cost to schools, teachers, and students.

Product overview

The SIFMA Foundation offers a unified portfolio of financial education programs centered on The Stock Market Game (SMG) — an online simulation of global capital markets where students invest a virtual $100,000 in real stocks, bonds, and mutual funds. The program ecosystem is modular: The Stock Market Game serves as the core platform, supplemented by SMG InvestQuest (a self-guided investing tutorial), SMG Summer Session (a seasonal competitive variant), InvestWrite (a national essay competition), and the Capitol Hill Challenge (a congressional engagement program). All offerings are accessible via both web and native mobile applications (iOS and Android).

Differentiator

Problem solved

Functional benefit

Brands

• Stock Market Game: An online simulation of the global capital markets that engages students grades 4-12 in the world of economics, investing and personal finance.
• InvestWrite
• Capitol Hill Challenge
• Invest It Forward
• SMG InvestQuest

Products and services

• The Stock Market Game (SMG) The flagship online simulation of global capital markets that immerses students in grades 4-12 in math, economics, personal finance, and technology while they invest a virtual $100,000 in real stocks, bonds, and mutual funds. Used by teachers in public, private, and parochial schools across all 50 U.S. states. The trading platform is powered by Broadridge Financial Solutions.
• SMG InvestQuest A self-guided investing tutorial with three progressive levels (beginner, intermediate, advanced) where users learn to build diversified portfolios, manage a virtual $100,000, and apply fundamental investment concepts over a simulated three-year period using historical market data. Completes in 30-40 minutes. Available directly via web and mobile app stores for self-learners, students, and parents.
• SMG Summer Session An intensive six-week summer program (June 29 – August 14) where participants manage a virtual portfolio using real market data, make strategic investment decisions, and learn how markets and economic events shape the global economy. Includes interactive lessons, activities, and opportunities to compete for cash prizes.
• InvestWrite A national essay competition that challenges students who participate in The Stock Market Game to compose research-based essays addressing real-world investing scenarios and financial concepts.
• Capitol Hill Challenge A signature program presented by Charles Schwab Foundation that matches public middle and high schools (prioritizing Title I high-needs schools) with a U.S. Congressional representative and immerses students in financial education through participation in The Stock Market Game simulation. Reaches all 50 U.S. states and all members of Congress.
• SMG Mobile App Native mobile applications for iOS and Android that work in conjunction with student team portfolios, providing second-screen engagement with Account Summary, Pending Transactions, Transaction Notes, market news, and ticker symbol lookup with trade entry functionality.

Quantifiable outcome

• American Institutes for Research confirmed that Stock Market Game engages students and improves academic performance, financial knowledge, and saving and investing habits
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Three partnerships are on record, tiered core.

• Broadridge Financial SolutionscoreTechnology or IntegrationBroadridge Financial Solutions powers the Stock Market Game trading platform, providing the technology infrastructure for the virtual market simulation used by hundreds of thousands of students annually.
• American Institutes for ResearchcoreStrategic or Co-development PartnerConducted year-long study confirming that Stock Market Game engages students and improves academic performance, financial knowledge, and saving and investing habits. Study was funded by FINRA.
• JumpStart Coalition for Personal Financial LiteracycoreStrategic or Co-development PartnerJumpStart Coalition research found that high school students who participated in a stock market game did significantly better than other students on financial literacy exams, with findings corroborated in four consecutive survey versions.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• EVERFI (Vector Solutions): EVERFI, now part of Vector Solutions, delivers digital financial literacy courses to K-12 schools and students via online modules. It competes with the Stock Market Game for school adoption, curriculum time, and financial industry sponsorship dollars.
• Next Gen Personal Finance (NGPF): NGPF provides free, standards-aligned personal finance curriculum to K-12 teachers, including simulations, case studies, and certifications. It is a directly competing provider of personal finance instructional content to the same teacher and school customer base.
• FoolProof Foundation: FoolProof is a K-12 financial literacy curriculum provider offering free, interactive, advertising-free modules to schools. It competes directly with SIFMA for teacher adoption and emphasizes media literacy and consumer awareness, complementing SIFMA's investing-focused products.
• Council for Economic Education (EconEdLink): The Council for Economic Education operates EconEdLink and similar K-12 economics and personal finance curriculum resources, partnering with teachers and schools in direct competition with SIFMA's standards-aligned financial education programming.
• Jump$tart Coalition for Personal Financial Literacy: Jump$tart Coalition is a national nonprofit coalition that promotes financial literacy in K-12 and conducts national financial literacy surveys (whose findings SIFMA cites). It operates in the same K-12 financial education advocacy and curriculum ecosystem.
• Junior Achievement: Junior Achievement is one of the largest K-12 financial literacy, work readiness, and entrepreneurship education nonprofits in the US, delivering classroom programs that overlap directly with SIFMA Foundation's mission of teaching students about money, markets, and economics.

Emerging players

• Greenlight Financial Education / EverFi (legacy consumer): Greenlight offers a family-oriented investing and financial education app and school-facing curriculum. As a newer fintech entrant with K-12 programming, it represents an emerging category of technology-led financial education that overlaps with SMG InvestQuest and Stock Market Game.

Broad incumbents

• Visa Practical Money Skills: Visa's Practical Money Skills is a corporate-backed financial literacy program serving K-12, adults, and small businesses worldwide. As a broader, well-funded initiative from a major payments network, it competes for the same teacher, district, and consumer attention as SIFMA's programs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/sifmafoundation

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SIFMA Foundation