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Nonprofit

Grant Thornton Names 20th Purple Paladin: Money Magnets Club

Through the program, Grant Thornton helps emerging nonprofit organizations move from “start-up to unstoppable” and provides funding, business advice and volunteer support, while also helping nonprofits raise awareness of their work and mission.

Isaac M. O'Bannon

Jul. 16, 2024

Grant Thornton, one of America’s largest brands for audit, assurance, tax, and advisory services, has named Money Magnets Club to its Purple Paladin program. Through the program, Grant Thornton helps emerging nonprofit organizations move from “start-up to unstoppable” and provides funding, business advice and volunteer support, while also helping nonprofits raise awareness of their work and mission.

Money Magnets Club, which is Grant Thornton’s 20th Purple Paladin, was established in 2022 and aims to empower elementary school children and their families with essential financial education and entrepreneurship skills. Recognizing the critical role of financial literacy in breaking the cycle of poverty, the organization focuses on underserved communities, particularly in Charlotte, North Carolina. Since its inception, the program has served over 600 children and families.

“Our goal is to not only teach kids the financial and entrepreneurial skills that will help them build their own pathways to success, but also for them to become comfortable with their voice and confident in their potential,” said Alexandra Arrington, co-founder and executive director of Money Magnets Club.

Arrington felt she missed out on starting her entrepreneur ambitions earlier in her life because she didn’t learn the skills her organization now teaches.  

“I saw how much learning about finances and practicing entrepreneurship transformed the way I approached work, the value of time and money, and my financial stability later in life — and how it can help those from low-income backgrounds create a new future for themselves,” Arrington said. “All children deserve those opportunities, and that starts with learning.”

The Money Magnets Club’s flagship “Kidpreneur-in-training” program consists of six sessions and equips children with money management skills, budgeting techniques and entrepreneurial insights. Participants explore their interests and transform them into viable business ideas, fostering confidence and self-assurance along the way.

Grant Thornton Advisors LLC CEO Seth Siegel recognizes the transformative impact of the Money Magnets Club’s initiatives.

“In our industry, we know how important it is to have financial literacy skills at work and in life — and the earlier kids learn those skills, the better,” said Siegel. “We’re proud to support Money Magnets Club’s efforts to bring developmentally appropriate and culturally responsive financial education and entrepreneurship programs to kids, helping build more stable futures for families and communities.”

To learn more about Money Magnets Club, visit https://www.moneymagnetsclub.org/.

Money Magnets Club joins 19 other 501(c)(3) nonprofits that Grant Thornton previously selected as Purple Paladins. They include:

  • 51 Vets — helps special operations veterans transition from the military to leadership roles in the private sector. To learn more, visit 51vets.org.
  • Alley-Oop Kids — advocates for sports equity by using “Lending Lockers” to provide under-resourced schools and youth organizations with sports equipment and gear. To learn more, visit alleyoopkids.org.
  • MBC Travelers — empowers survivors of metastatic breast cancer by creating memorable travel experiences and connections. To learn more, visit mbctravelers.com.
  • I Got THIS Foundation — helps inspire young golfers and educates the public on what’s possible for people with Down syndrome and other intellectual disabilities. To learn more, visit igotthis.foundation.
  • Women in Training — dedicated to ending “period poverty”. To learn more, visit womenintraining.org.
  • Digs with Dignity — helps elevate the lives of those transitioning from homelessness by furnishing their houses to create a dignified home. To learn more, visit digswithdignity.org.
  • Fair Opportunity Project — offers high-quality college counseling resources at no cost to aspiring students. To learn more, visit  fairopportunityproject.org.
  • Free Mom Hugs — creates allies who support the LGBTQIA+ community through visibility, education and conversation. To learn more, visit freemomhugs.org.
  • WeaveTales — helps refugees of all kinds share their stories via books, exhibits, films and other channels. To learn more, visit weavetales.org.
  • Warrior Reunion Foundation — reconnects combat veterans via life-changing reunion experiences. All events are provided at no cost to those who attend. To learn more, visit warriorreunionfoundation.org.
  • Go Team Therapy Dogs — produces well-trained therapy dogs and places them at disaster sites, hospitals, and other places where they can offer comfort and care. To learn more, visit goteamdogs.org.
  • Find Your Anchor — focused on suicide prevention. To help people who are struggling to find hope, the organization creates and distributes boxes of curated items known as “anchors.” To learn more, visit findyouranchor.us.
  • Foster Nation — helps former foster youth overcome the challenges associated with ‘aging out’ of the foster-care system. To learn more, visit fosternation.org.
  • Hope in a Box — provides educators with literature, detailed curriculums and coaching to improve classroom environments for LGBTQIA+ students. To learn more, visit hopeinabox.org.
  • Weird Enough Productions — develops free, interactive online content designed to combat media misrepresentations of minority communities. The organization is best known for its hallmark comic book series, “The UnCommons.” To learn more, visit weirdenough.com.
  • Invisible Hands Deliver — taps more than 12,000 volunteers to deliver groceries, prescriptions, and other necessities to people vulnerable to COVID-19 and facing hunger insecurity — including the elderly, disabled and immunocompromised. To learn more, visit invisiblehandsdeliver.org.
  • Pal Experiences — helps people with non-visible disabilities — such as autism — have more inclusive experiences at museums, entertainment venues, sporting events and more. To learn more, visit palexperiences.org.
  • Sneakers for Soldiers — provides properly-fitted athletic shoes to deployed combat troops in all branches of the military. To learn more, visit sneakersforsoldiers.org.
  • Coming Up Rosies — provides “smile kits” to hospitals so children — particularly those suffering from hair loss — can engage in therapeutic art activities to create custom head scarves, neck scarves and superhero capes based on their own unique designs. To learn more, visit cominguprosies.com.

Grant Thornton’s Purple Paladins program derives its name from the word paladin, a champion of a cause. Grant Thornton and its professionals have donated more than $1 million to Purple Paladin nonprofits, and more than 650 Grant Thornton professionals have volunteered their time and skills to support the firm’s Purple Paladins.

To learn more about Purple Paladins, or to nominate a nonprofit for potential support, visit Grant Thornton’s website: www.grantthornton.com/PurplePaladins.