City Pay It Forward
CITY PAY IT FORWARD CIO
Trustees, Annual Report
Year ended 31 December 2023

aty Pay It Forward ao
Trustee's Annual Report
Year ended 31 December 2023
The trustees present thelr report of the charity for the year ended 31 December 2023
Reference and admlnlstrative detalls
Registered charlty name
City Pay it Forward CIO
Charlty reglstratlon number
1187860
Prindpal office
2 8a8leys Lane
London
SW6 2AS
The trustees
S W Eaton
QG Nason
M Schwartz
M Koppenber8
M M Saluja
V DeLorenzo
V Laing
P Metha
Trustees are elected to post.
Structure governance and management
The CIO is a company limited by guarantee registered with the Charity Commission.
The trustees, who are also the directors for the purpose of company law and who served
during the period and up to the date of signature of the financial statements were as listed
above.
Purposes of the tharity
City Pay it Forward works to advance education for young people by undertakin8 activities
relating to but not limited to financial education. trainin8 and mentorship to further
knowledge in the areas of money. finance, enterprise, budgetin8 and general economlcs.
Our aim is to help address some of the issues of youth indebtedness by educatlng younger
generations around financial literacy topics and make sure that good financial habits are
developed early on in life.

Objectlves and actlvities
CPIF'S objectives for the period have been to contlnue to progress Financial Literacy among
primary and secondary school pupils in the UK and to adapt and deliver our programme for
use overseas. notably the USA.
A summary of our activities during the period is as follows:
Progromme development and delivery
In the UK, we continued to collaborate with a range of primary and secondary schools
across a number of activities. Our face-to-face, in-person delivery of our tailored in school
financlal literacy presentations continued In both England and Northern Ireland.
In the US, our collaboratlon with University of Miami School of Education and Miami-Dade
public schools expanded with the successful roll out our City Pay it Forward fifth grade
curriculum across the Los An8eles and Miaml-Dade publlc school districts in May 2023.
These two districts (number 2 and 3 largest school districts in the US respectively) serve
almost 90,000 fifth grade pupils. City Pay it Forward and the Unlversity of Miami School of
Education team delivered a comprehensive bespoke. slx-hour financial literacy curriculum
based on City Pay it Forward's existing UK materials and framework, adapted to the US
public education system. The initiative is a fantastic collaboration between Miami-Dade
public schools. Unlversity of Moami School of Education and City Pay It Forward and was
provided to the school distrirt free of charge. We again engaged the Unlversity of Miaml to
undertake a post session survey, adding focus 8roups to provide further detail and insights
from teachers on the effectiveness and impact of the curriculum and now have year on year
comparison with enhanced outcomes to 2022.
In both the UK and the US, the train the troiner model is a key element of our programme.
During the year, again in collaboratlon with Dr. Mary Avalos from the Unlversity of Miami
School of Education, we conducted an extensive three-hour professional development
session with math teachers in Miami-Dade. We similarly conducted five two-hour
professional development pro8rams with hundreds of math teachers in Los An8eles.
We greatly appreciate the UM partnership and are grateful for their support and
expertise.
We have continued to develop and deepen partnershlps with major academy chains. Our
partnership with United Learning has strengthened, and we facilitated puplls to visit the
Cowen trading floor in London, challenging stereotypes, broadening horizons and providing
an insightful experience for these young people. We were delighted that after a COVID
enforced pause that we were able to relaunch our Dragon's Den style competition which
st
culminated in a presentation by the student teams at Mansion House on 31 January 2023.
During 2022. the inltial stages of a Dragon's Den competition were undertaken in
partnership with four of the major City livery companles, with finals taking place In January
2023.

At CPIF we use multiple means to ensure the knowledge needed to help navigate a financlal
future is available as widely as possible. We use different paradigms to achleve impact,
achieving a multipller effect through di8ltal distributlon platforms, educational and
corporate partners and our experience and expertise feedin8 into public policy.
Engagement In public policy in the UK
CPIF continues to contribute to public policy throu8h communication of our on the ground
insight and expertise. CPIF'S contributlons drew on our experlence of delivery both in the UK
but also included a detailed case study of our recent experience of dellvery In the US, with
notable learnlngs. We contlnue to advocate, based on our experience for financial literacy
education to become a required part of the national curriculum and for it to be
comprehensively and conslstently taught In both primary and secondary schools. This
included partlcipation in the Lord Mayorfs National Numeracy Initiative (within the Lord
Mayorfs Appeal) and feedin8 in learnings from the post Implementation survey undertaken
in the US. Furthermore, we continued to work with members to provide evidence to the
All-Parties Parliamentary Group when opportunities arise.
Other
Founder Quentin Nason and other trustees continue to actlvely promote the importance of
embedding financial literacy within the wlder City of London financial community throu8h
networking events, participation in the London Stock Exchange's Ring the Bell for Financial
Literacy and livery company events all of which bring together key or8anlsations in the field.
CPIF actively responds to incomin8 enquiries from teachers and schools from across the UK
and around the world. seeking to use, adapt and learn from our materials and curriculum.
We continued to explore different ways to leverage our materials and expertise so that they
can be used as widely as possible and with maximum impact.
Public Benefit
In planning and implementing the charitvs activities, the trustees have at all times kept in
mind the Charity Commission's guidelines on public benefit.
Achlevements and performance
During 2023, CPIF further expanded the tailored financial literacy curriculum at scale in the
USA. The reintroduction of the Enterprise Challenge competitlon, with pupils from both the
Harris Federation and United Learning schools in collaboration with Livery companies was a
notable milestone.
Financlal revlew
During the perlod l January 2023 to 31 December 2023, the charity saw a surplus of
expenditure over Income.

The Charitrfs principal expenditure related to continued delivery of our programme and
expenses related to our en8a8ement In public pollcy In the UK. In addition to the dellvery
and Impact evaluation of a bespoke CPIF literacy module In the Miaml-Dade County Publlc
School Distrlct In Florlda comprlsin8 over 27.0(X) students.
Declaratlons
The trustees declare that they have approved the trustee's report above.
Slgned on behalf of the charitrfs trustees
Sl8nature
Full name
Valerie Lain8
Position
Trustee
Date

CHARITY COMMISSION
FOR ENGIAND AND WAIIS
Receipts and payments accounts
CC16a
For the p•rfod
frDm
To
Section A Receipts and payments
UnT•slrfct•d
funds
Endov4rn•nt
lund•
R••trfct•d funds
Totsl fund•
La•1 y•ar
A1 Recel ts
21x1
4.115
Sub totsl(¢knss income frxAR)
A2 AM•t •nd InY•strn•nt ••kn,
4.124
A3Pa
ents
398
837
cosis
Sub total
18.240
11.778
A4 Asset and Inv•stment
Pu￿ase8. (so• table)
S￿1 total
Totalpayments
1(240
11.778
Net of reCe￿tsI{paYrnents)
AS Transf•rn b•twMn funds
A6 Cash funds last y•ar end
Cash fiinds thls year end
18,040
7.654
13.651
31.691
Section B Statement of assets and liabilities at the end of the period
Unrestrfct•d
R•strkted funds
funds
lo rnar￿t £
Endowment
funds
to Iw•st E
lo M•r•si £
B1 Cashfvnds
Total cash funds
13.651
CCXX R1 3co3unts (SS)

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Detail
B4 Ag••ts r•tak*d for
charmy's own us•
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B5 Uabilitl•s
S•3ned by one crf trustees on
behav ol al th• busieol
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CCXX fu •crounis (SS)
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