Foundation47 Helps Youth Find Financial Literacy

 

Dale Morgan is an investment analyst, volunteer, motivational speaker, mentor, community leader, advocate and father. Morgan grew up in Lexington, surrounded by poverty. He worked to become a first-generation college student and financial expert. Yet he wanted to do more than simply elevate himself; he wanted to help others. From that, Morgan found his calling: Foundation47,LLC.

 

Tell us a little but about you.

I’m currently a Finance and Investment analyst for the Lexington Fayette Urban County Government. Prior to that, I was an accountant at Purdue University as well as the University of Kentucky. I received my bachelor’s degree in Accounting from Eastern Kentucky University while working as a general laborer in a manufacturing environment and running my own business.

 

I’ve been appointed to the Child Support Guidelines Review Commission by Governor Andy Beshear.  I serve on the business advisory council for the college of business at EKU. I currently serve on the Charles Young Center Advisory Board, as well as the chair Partners for Youth, and most recently I was honored by EKU with the 2021 Distinguished Service Awards.

 

What inspired you to start Foundation47?

My inspiration for Foundation47 came after I recognized a need for financial education for everyday real-life situations. When I looked back on my K-12 curriculum, it became apparent to me that I never heard the term “budget” or any other financial term until I got to college.

 

When I was an adolescent living in the housing projects, it never occurred to me that I was living in poverty.  This was simply because I didn’t know what poverty was, and since I was unaware, how could I acknowledge that fact?

 

What is the goal of Foundation47?

The goal of the Foundation47 is to equip individuals with a greater sense and understanding of real-life financial situations, which will, in turn, put them in a better position to make informed financial decisions that will positively impact their future.

 

What is your motivation for helping others?

My motivation for helping others is the direction and guidance I yearned for myself as a youth.  Coming up as an adolescent, I didn’t have a tole model or mentor to help me navigate through those challenges. I was often left by myself making misinformed important life financial decisions. Through Foundation47, I can and will help mitigate those situations.

 

What advice would you have for any parent raising a financially savvy adult?

Instead of giving children everything that they didn’t have, I recommend teaching them everything that they weren’t taught, starting with personal finance.  It could start with something as simple as a kitchen table grocery budget to working for an allowance and saving up to purchase those things they want.

 

How did you raise your own daughter to have an entrepreneurial mindset?

I always tried to instill in Cymone a sense of responsibility and accountability for her own financial independence. I would seize every opportunity- from a car ride to and from school to those long walks in the park- to engage her about budgeting, saving, establishing credit, disposable income, needs and wants.. everything that I wished I would have been taught as her age.  I always told her there are 3 ways to make money:

  1. Get a job.
  2. Start a business.
  3. Invest in the Stock Market.

I was more than proud of her when she started her own eyelash business, The Butterfly Effect, with money that she had invested.

 

What is the future for Foundation47? How can others get involved?

My plans are for the future are to expand on my reach in Fayette County public school system as well as the colleges and Universities I have facilitated workshops with (Berea College, Northern Kentucky University, Morehead State University, University of Louisville, and Eastern Kentucky University).  My future plans also include a team of facilitators reaching across the state of Kentucky.

 

For individuals that want to get involved, their support along with referrals and recommendations- is always welcome important financial and life decisions.  Through Foundation47, I can and will help mitigate those situations.