Association of Federal Deposit Insurance Corporation Alumni Inc.
Charitable Donations
December 2023

 As you know AFDICA goals are fellowship, education, and charity.  The AFDICA Board created a Charitable Services Committee (CSC) to identify potential charitable activities for members and ensure that the fundraising is planned, focused and done well.  In addition, the CSC established a Scholarship Committee specifically to conceive the focus, nominating process, and to organize a scholarship awards program.

CSC received numerous ideas and suggestions on where funds raised should be donated.  The AFDICA 2018 Board members recognized that it was a daunting task to identify and navigate the vast number of organizations that can use the funds we raise.  However, because we were a new organization, CSC recommended that AFDICA minimize administrative costs and time needed to fulfill our mission by partnering with other organizations to award scholarships with an organization focused on financial literacy and/or providing scholarships that focus on financial literacy.

To that end, CSC identified two organizations, Jump$tart and Army Scholarship Foundation (ASF).  AFDICA has sponsored teachers and scholarships since 2018.  While all the military branches have scholarship programs, we initiated discussions with the ASF in part due to the program management’s proximity in Texas to the AFDICA Vice President for Charitable Services.

Jump$tart Coalition for Personal Financial Literacy is a 501(c)(3) tax-exempt nonprofit based in Washington, D.C. As a coalition, Jump$tart unites organizations committed to advancing financial literacy among pre-school through college-age youth.  FDIC has long been a partner with Jump$tart and in fact presented a Money Smart workshop at Jump$tart’s 2017 conference in Washington, DC.  The conference has exhibitors and workshops.  Jump$tart displays all sponsors and financial contributors in their programs and conference material.

Each year Jump$tart offers 18-21 hours of training to teachers from around the country.  Each conference focus on the advancing of financial literacy.  The cost of the registration for each teacher covers lodging (two nights) and meals for three days at the conference. AFDICA funded $10,000 for eight scholarships in 2023.  Attendees must cover their own travel expenses to and from the conference.  All recipients are given the names of the organization awarding the scholarships. Click here to see the 2023 recipients.

Army Scholarship Foundation (ASF) is a 501(c)(3) tax-exempt nonprofit and was established in 2001 to offer undergraduate scholarships to deserving children of current and former members of the U.S. Army and to spouses of currently serving soldiers.  It is not sponsored by the military.  ASF staff consists mainly of volunteers.  ASF’s administrative expenses range between 3-5%.  The organization has an annual CPA audit and an outside bookkeeper.  AFDICA donated $4,000 to ASF in 2023.  Click here to view the 2023-2024 recipients.

ASF currently has an online application on their website,   The application process includes the criteria for receipt of a scholarship which includes school grades, financial need, participation in the community and the enlisted grade of the veteran.

AFDICA Charitable Services Matching Funds program. - In 2018 the AFDICA Board considered another charity objective to support our members.  The Board approved a matching annual contribution up to $250 per member for the charity of their choice.  The matching request is sent to the AFDICA Board for consideration to ensure that the request is consistent with AFDICA’s charitable objectives. The guidance for submitting a matching award is found on our website.  The AFDICA makes the contribution directly to the charity.  In 2023, AFDICA matched awards to 4 members for a total of $1,000.