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Consumer And Merchant Awareness Foundation
Brooklyn, NY · EIN 320085922 · Form 990 · FY2020 · Micro (<$100K) · cmafcharity.org
revenue
$88K
expenses
$69K
net assets
$0
employees
0
volunteers
3
program ratio
100%
mission · from form 990

The Foundation's mission is to increase adult financial literacy in underserved communities. The goal being to give these communites a "running start" on a new personal financial future.

profile · synthesized from sources

The Consumer and Merchant Awareness Foundation (CMAF) is a New York-based 501(c)(3) public charity founded in 2003 by American Express. Its mission is to increase personal financial literacy in economically disadvantaged communities, with a focus on improving savings rates and lowering transaction costs. The organization partners with community-based organizations and offers educational tools, including classroom instruction and a budgeting app, to support individuals in managing their finances.

irs program accomplishments · form 990 part iii · fy2020

What they reported doing

  1. #2 $69K
    Interest .84
named programs · 2 · from sources

What they call their work

Pay Your First™ App
Free mobile application offering budget and goal tracking resources to help individuals analyze their budgets and set financial goals as part of a broader financial literacy initiative.
Savings Incentive Program
Partners with community-based organizations to provide financial literacy tools and resources to individuals, particularly those reentering society after incarceration, to help them manage their finances and sustain savings.
activities · 2 groups

What they do

  • Financial Literacy Education Programs 3 activities
    • Financial Incentives for Program Completion
      Provides financial incentives of up to $150 per session via prepaid debit cards to participants who attend all sessions, create a monthly budget and savings goal, and report progress. This incentive structure supports engagement and accountability in financial literacy programs.
    • Financial Literacy Education Program for Underserved Communities
      Delivers a 12-month financial literacy curriculum through community-based organizations, serving heads or co-heads of households in lower-income and disadvantaged communities. The program includes 5 class sessions covering cash management, savings, credit, and budgeting, using lectures and group dialogue.
    • Savings Incentive Program for Financial Sustainability
      Operates a Savings Incentive Program that provides financial education and tools to support financial sustainability, particularly for formerly incarcerated individuals reentering the community. The program has completed six cohorts with approximately 120 participants over the past three years.
  • Uncategorized 1 activity
    • Pay Your First™ Digital Financial Platform
      Offers free access to the Pay Your First™ app and digital platform, which provides tools for budget analysis, financial goal tracking, bill payment prioritization, savings optimization, and monitoring household budgets. The platform is accessible via internet and mobile devices and aims to reduce fees on prepaid and credit cards.
financials · form 990 · fy2020
revenue
Total revenue$88K
Contributions & grants$83K94%
Program service revenue$00%
Investment income$00%
Other revenue$5K
expenses
Total expenses$69K
Program expenses100%
Admin / overhead0%
Fundraising0%
Salaries & benefits$0
Grants paid out$69K
Largest expense lineCompensation
balance sheet
Total assets$0
Cash—
Investments—
Liabilities—
Net assets$0
1 years on record · 2020–2020
leadership · form 990 part vii · fy2020

Who runs it

board members · 3
  • G Winston Smith — Director &Chairman
  • Jacqueline Herd-Barber — Director
  • Willie E Dennis — Director & Secretary
relationships · 7

Who they work with

  • American Express Funder — Founded the Consumer and Merchant Awareness Foundation in 2003 and is a primary sponsor.
  • American Express Government — Founded CMAF in 2003 and originally established its mission to protect and improve the integrity of the financial services marketplace.
  • American Express Government — Founder of the Consumer and Merchant Awareness Foundation in 2003
  • American Express Partner — Founded the Consumer and Merchant Awareness Foundation (CMAF) in 2003
  • Our partners Partner — General reference to organizational partners without specific names provided.
  • Pay You First Partner — Partner organization providing the Budgeting App used in the program.
  • community-based organizations Partner — Partners with community-based organizations in under-served communities to identify individuals in need of personal finance guidance.
strategies · 5

How they approach the work

Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.

  • Community-Partnered Financial Education
    methodology: community-partnered financial education
    By partnering with trusted community-based organizations in low-income areas, we deliver financial literacy programming more effectively because local networks increase reach, trust, and engagement, leading to improved financial behaviors such as savings.
  • Financial Capability Building with Complementary Support
    methodology: financial capability building
    By providing financial capability tools through the Savings Incentive Program alongside direct financial support from other organizations, we promote long-term financial self-sufficiency because education enhances the impact of financial resources.
  • Incentivized Financial Education
    methodology: incentivized financial education
    By tying conditional cash incentives to participation and goal-setting in financial education programs, we reinforce positive financial behaviors because tangible rewards increase motivation and discipline, leading to improved savings outcomes.
  • Incremental Financial Empowerment
    methodology: baby_steps
    By guiding individuals through a step-by-step process that prioritizes emergency savings and debt reduction before investing, we build long-term financial self-sufficiency because foundational stability increases the likelihood of sustained financial health.
  • Participatory Financial Education
    methodology: participatory_education
    By using a dialogue-based, participatory teaching approach in financial education, we increase engagement and ownership of learning because interactive methods foster deeper understanding and behavioral change compared to didactic instruction.