CharityDetail

What it does
  • MyBnk brings financial education and enterprise to life in UK schools and youth groups. We provide workshops and business experiences using real money covering a rage topics from budgeting and student finance to debt and social enterprise.
Who works here
  • 31 employees and 180 volunteers.
Who it helps
  • Children/young People
Sector(s) covered
  • Education/training
Where it operates
  • Throughout England
UN SDGs:
?
Financial Data ?
Y/E Income Expenditure Surplus/
Deficit
Assets Months
Reserves
Employees Volunteers Filed on
31/08/2018 £1,583,953 £1,535,412 £48,541 4 31 180 28/02/2019
31/08/2017 £1,551,592 £1,242,595 £308,997 £475,581 4 22 40 15/06/2018
31/08/2016 £1,100,619 £1,142,619 -£42,000 £166,584 1 22 15 28/04/2017
31/08/2015 £1,064,510 £1,040,126 £24,384 £216,040 2 21 25 11/02/2016
31/08/2014 £959,508 £1,038,579 -£79,071 £191,656 2 22 14 14/03/2015
31/08/2013 £928,997 £766,097 £162,900 £270,727 4 18 8 22/02/2014
31/08/2012 £683,604 £682,476 £1,128 £107,827 1 16 11 16/02/2013
31/08/2011 £608,913 £518,285 £90,628 £106,699 2 12 12 12/05/2012
31/08/2010 £320,388 £325,952 -£5,564 01/04/2011
31/08/2009 £214,794 £197,363 £17,431 05/01/2010
Donations received ?

Over the last five years they've received significant donations from 8 grant making charities totalling £618,578

Amount/
When
Donor To be used for
£46,500
31/08/2019
Robertson Trust Salary costs of the FT Regional Education Officer (Scotland)
£135,000
28/02/2019
City Bridge Trust £135,000 over three years (£50,000; £45,000; £40,000) to contribute to MyBnk’s specialist support services for disabled young people or care leavers in London.
£75,000
30/06/2018
Garfield Weston Foundation Programme Development and Delivery
£60,000
29/02/2016
Paul Hamlyn Foundation MyBnk designs and delivers financial and enterprise workshops to young people aged 11-25 in schools and youth organisations. The grant is to fund the Quality and Training Director who leads on operations, monitoring and evaluation. MyBnk is expanding into the South West currently and plans to expand further to the Midlands and North over the next couple of years. It also wants to grow its work focusing on the most vulnerable young people and to evidence its impact and the social return on investment it achieves, so that it can attract funding from new sources.
£60,000
30/04/2015
City Bridge Trust £60,000 for one year towards the costs of the Money Works programme specifically for young care leavers. The sum includes a 15% contribution to core costs.
£10,000
10/09/2014
National Lottery Heritage Fund Not Available
£125,078
31/05/2014
Esmee Fairbairn Towards core costs of an organisation that delivers financial and enterprise education.
£72,000
31/01/2014
Dulverton Trust MyBnk Expansion in the South-West
£35,000
31/12/2013
Tudor Trust over one year as continuation funding for personal finance and enterprise education work with young people across the UK
How effective is it?
Money Twist KS2 - Primary School Programme

Description: Expert-led sessions are complemented by an assembly, teacher resources and family challenges. Money Twist involves writing, presenting, drawing, maths and problem-solving. MyBnk use Manga comics, interactive resources and videos, engaging students to remember new knowledge and form their own money opinions

Objectives: To help set positive money habits and mind-sets from an early age

Intervention period: 3x75 minute sessions delivered over 6 weeks

Beneficiaries: 7-11 year olds

Outputs Outcomes
31/08/2017-30/08/2018
871 Hours of financial education provided
68% Of pupils who wouldn't delay gratification now do
70% Of pupils actively pursuing a savings goal
67% Of pupils who did not understand the term 'budget' now do
87% Of teachers say pupils now know financial decision have consequences
Data taken from an academic year-long analysis from 1,444 pupils and 187 teachers at 86 schools and control groups
Money Twist KS3/4 - Secondary School Programme

Description: The programme approaches financial capability in a hands-on manner as young people play games, engage with video case study challenges, and involve physical activity in their learning. Topics covered include minimum wage, payslips, national insurance, tax, government spending, household costs, insurance, needs and wants, lifestyle choices, budgeting, unexpected costs, savings, pensions, auto enrolment, investments, stocks and shares/cash ISAs, risk and saving, interest, borrowing, credit and debt, and fraud and scams

Objectives: To get young people thinking and caring about their finances, both now and in their short and long-term futures

Intervention period: 3x100 minute sessions, delivered over 2-3 separate sessions

Beneficiaries: 11-16 year olds

Outputs Outcomes
31/08/2017-30/08/2018
2265 Hours of financial education provided
73% Of teachers thought MyBnk training was more effective than the training delivered by school staff
20% Higher financial capability shown by those who received money lessons from MyBnk compared to national curriculum sources of education
Data taken from an academic year-long analysis from 2,287 pupils and 252 teachers at 86 schools
Money Works - Vulnerable Young Adults Programme

Description: A financial and digital skills programme for young adults moving into independent living to confront their money worries. Sessions include budgeting and habits - attitudes towards money, needs and wants, cutting back, budgeting, sources of income. Being Independent - wage slips, tax and NI, benefits, universal credit, steps after move in, reading bills, household costs. Banking - how banks work, savings and current accounts, interest, forms of payment, choosing an account. Borrowing and beyond today - forms of borrowing, credit history, debt consequences and prioritisation, looking forward, setting goals

Objectives: To help young people in, or about to move into housing, manage their money and remain independent

Intervention period: 2x4 hour sessions

Beneficiaries: 16-25 year olds moving into independent living

Outputs Outcomes
31/08/2017-30/08/2018
1030 Hours of financial education provided
60% Drop in debts compared to peer control groups who saw their debts grow by 50%
23% Increase in the number of beneficiaries saving regularly
Over 50% Of beneficiaries would now seek advice from StepChange or Citizens Advice
£5.57 in social value created for every £1 spent on programme
The Money House - Preventing Youth Homelessness Programme

Description: Sessions take place in a flat that looks and feels like what a young person would aspire to live in when they move into a form of independent living. Experts help them become more confident about money and living on their own by providing real-life skills in a unique setting that brings financial education to life. Sessions include understanding benefit changes and implications e.g. Universal Credit; LHA Housing Benefit Cap. Digital skills to help make the most of your money e.g. open banking; comparison web sites; changing utility providers. Sign-posting to relevant services that can assist young people further if required e.g. StepChange, ChangeGrowLive

Objectives: To help young adults moving into independent living confront their money worries

Intervention period: Ongoing support and one day workshops

Beneficiaries: 16-25 year olds in care or sheltered accommodation

Outputs Outcomes
31/08/2017-30/08/2018
1783 Hours of financial education provided
45% Reduction in those incurring bank charges and missing bills
64% Drop in evictions for those 'at risk' of losing their home
75% Of beneficiaries using a bank account, and 44% using online banking
£3.36 in social value created for every £1 spent on programme
Documents
MyBnk Annual Report 2018 Programme Report Download Document
MyBnk Annual Report 2017 Programme Report Download Document
Governance
Trustees (8)
  • Margaret Mary Louise Morrissey
  • Viral Kataria
  • Karim Kefi
  • Elisabetta Lapenna-Huda
  • Simona Paravani-Mellinghoff
  • Gary Coyle
  • Carol Lesley Knight
  • Yasmin Amber Drakes
Main office

MyBnk Ltd
5-15 Cromer Street
LONDON
WC1H 8LS

Legal constitution
  • UK Charity, number: 1123791
  • First registered on 21/04/2008
Objectives

ALL PURPOSES WHICH ARE CHARITABLE UNDER THE LAWS OF ENGLAND AND WALES INCLUDING, TO ACT AS A RESOURCE FOR YOUNG PEOPLE BY PROVIDING ADVICE AND ASSISTANCE AND ORGANISING PROGRAMMES OF EDUCATIONAL AND OTHER ACTIVITIES AS A MEANS OF: 1 ADVANCING IN LIFE AND HELPING YOUNG PEOPLE BY DEVELOPING THEIR SKILLS, CAPACITIES AND CAPABILITIES TO ENABLE THEM TO PARTICIPATE IN SOCIETY AS INDEPENDENT, MATURE AND RESPONSIBLE INDIVIDUALS; OR 2 ADVANCING EDUCATION; OR 3 RELIEVING FINANCIAL HARDSHIP.