FAST FACTS

FAST FACTS

  • Founded in April 2019, during Financial Literacy Month/Money Smart Week

  • Serves 100 kidpreneurs-in-training each school year

  • Partners with West Charlotte based anchor institutions and after school programs for a value added experience to meet needs with opportunities

  • Emphasizes a two-generation, developmentally appropriate approach to financial literacy training and information as a pathway to understanding entrepreneurship principles and practices

  • Provides $25 seed capital to kidpreneurs-in-training that complete the program requirements

  • Exposes kids to the variety of ways that entrepreneurship can look

  • Supports and invests in the entrepreneurial ecosystem, in Charlotte and beyond, by actively engaging and patronizing local, small, Black-owned, Woman-owned, LGBTQIA-owned, Latiné-owned and Kid-owned businesses in our work

about money magnets club

Public institutions, like the library, have been a great source of support, hope, and resources in many children's lives. This was the case for Charlotte community member, consultant and trainer, Alexandra Arrington, who co-founded Money Magnets Club. Her experience was intensified by encountering people who really cared about her as a person, and who were passionate about the work they did. Alexandra attended Title 1 schools the majority of her K-12 experience and became an entrepreneur at 14. As a young hairstylist growing up in a single parent home, she had a passion that was encouraged, and one that made her money. All these elements connected as an invaluable set of resources that had immediate material benefit and would support her future plans and aspirations. Having a chance to create a more intentional approach for younger children, lovingly referred to as “kidpreneurs-in-training,” to experience entrepreneurship, to be encouraged and to be supported early on is a direct result of Alexandra's experience. Money Magnets Club seeks to bring similar experiences as Alexandra’s to young people with a direct tie to their developmental stage of learning while providing material resources as a core approach for Money Magnets Club. 

The organization seeks to learn from and cater to kids in geographic areas that have been underinvested in, like Charlotte's West side, that has so much vitality and ingenuity. Co-Founder Teresa Cain, who is a children’s librarian in the organization's corridor of service, noted that there were several programs for teens and adults that promoted entrepreneurship in the library system, but there was not anything similar for kids. The identified opportunity to serve younger kids in the community, couples with personal passion, aligned to bring together the co-founders to launch this asset-based program, focused on economic enfranchisement, character-building, and community-mindedness.

Mission

To serve as a community that encourages entrepreneurship and financial literacy among elementary school kids and their responsible adults through education, exposure, and resources, to build generational wealth.

vision

To see all kids fully empowered...to explore and realize all that they can be through principles of character, community, and business…and to build generational wealth, combat intergenerational poverty, and position kids to be economic engines for Charlotte, North Carolina’s families and communities.

Meet the Board

  • Steven Stack

    BOARD PRESIDENT

    Steven grew up in a Southern household. While his parents didn’t come from great financial means, they provided a rich inheritance of faith, character, stewardship, generosity and love that he's deeply grateful for to this day. Some of the things that he learned from an early age were the importance of giving, living within my means and saving for a rainy day which were the building blocks to him becoming a millionaire at age 31.

    A big turning point came while in college at Clemson when he realized that he could not save my way to wealth; he had to invest! This set him on a path to discover how to make money work for him with the understanding that he would one day help others do the same.

  • Mackenzie Wilkins

    BOARD VICE-PRESIDENT

    Mackenzie is a graduate from UNC Greensboro’s Clinical Mental Health Counseling program. Prior to starting her masters, she worked as an Academic Advisor at an arts high school. In this role she helped young musicians and visual artists on their path to academic and vocational development. Mackenzie is currently completing an internship at Guilford College in their counseling center. She would classify herself as a life-long learner and multi-hyphenate.

    Mackenzie earned her undergraduate degree in Psychology from Wake Forest University. When she isn’t in class or at her internship, she enjoys reading, thrifting, and spending time with friends.

    Mackenzie served as MMC’s inaugural employee from April 2022 - December 2023, and is now serving to govern and keep the vision of MMC as a Board Member.

  • LaToya Lowery

    BOARD TREASURER

    LaToya Lowery, M.S. (she/her/hers/herself) is from Wilmington, NC and resides in Charlotte NC. She has been in the nonprofit sector for over 20 years doing much work with anything related to grants management, community engagement, event planning, and advocacy. Two popular grants she has had the opportunity to manage is the VITA free tax program. She has led the program in every capacity over the last 20 years and the SNAP Employment and Training grant.

    LaToya has held roles with the United Way of Greater Nashville, where she led community impact work, including a focus on SNAP Employment and Training and the Volunteer Income Tax Assistance (VITA) programs, and now with Prosperity Now as their Senior Program Manager, Network Building. Prior to her work with United Way, she worked with alongside Google at Goodwill Industries International and worked several years improving workforce development in Charlotte and the surrounding areas at Goodwill Industries of Southern Piedmont (GISP) (located in Charlotte).

    In addition to serving Money Magnets Club, LaToya is the Vice President of the Board of Directors for Autism Wonders and represents the state of North Carolina as a Volunteer Advocacy Ambassador for Autism Speaks working alongside Congresswoman Alma Adams to create policy around programs for individuals on the autism spectrum. LaToya has a bachelor’s degree from the University of North Carolina at Charlotte and a master’s in clinical Mental Health Counseling from Walden University and is working toward a doctorate from Walden University. LaToya loves to spend time with her family, loves to shop, going to the beach, binge watching TV, and fresh and saltwater fishing. She is a die-hard Duke fan and loves sports and westerns.

  • TERESA CAIN

    CO-FOUNDER & BOARD SECRETARY

    Teresa Cain is a storycatcher, storyteller, and rescuer of damaged kimonos. (They tell stories, too.) She loves anything that’s finely handcrafted, especially if it’s older than she is. She’s fascinated by mutually beneficial symbiotic relationships in nature. Teresa has an odd gift for recognizing the connections between things and developing professional partnerships based on those connections.

    Before working as a children’s librarian at West Boulevard Library, Teresa was an award-winning writer, Montessori teacher assistant, and fast food worker. Her career highlights at Charlotte Mecklenburg Library include standing on the Children’s Theatre stage with 12 young customers when Peter Pan flew, sitting in Archbishop Desmond Tutu’s chair, and co-founding Money Magnets Club.

    She’s earned a BS in Business Administration from East Carolina and a Master’s in Library and Information Science from UNC-Greensboro. Dream job: Multi-Millionaire Philanthropist.

  • Dana Johnson

    BOARD MEMBER

    Dana’s not interested in the hustle culture. She is building a balanced, fulfilled life and a business that supports it. And she want to help young entrepreneurs do the same.

  • Ayesha Murphy

    BOARD MEMBER

    Ayesha Murphy is the owner of natural skin care brand Beary Sensitive. She has grown up around entrepreneurship her entire life by having both parents as entrepreneurs. As a mother she teaches the value of entrepreneurship to her children by having them help in the business.

    Professionally she has worked in the utility, retail and finance industries. She is currently working in the finance industry as a consultant who optimizes IT applications, serves as a mentor to six sigma candidates and is a member of the Women in IT networking committee.

    Ayesha has a BS in Textile Management from North Carolina State University and an MBA in Marketing from Florida Institute of Technology. When she is not working, she enjoys doing home DIY and interior design projects.

  • Rashaan Peek

    BOARD MEMBER & PRESIDENT-ELECT

    Rashaan Peek is Chief of Staff of Charlotte Center City Partners, an organization that envisions and implements strategies and actions to drive the economic, social, and cultural development of Charlotte’s Center City. Rashaan’s experience has given her the skills to develop and manage multi-million-dollar budgets, develop impactful non-profit boards of directors, increase employee morale, and implement sustainable programs.

    Mrs. Peek is certified in Nonprofit Management by Duke University, certified in Diversity and Inclusion in the Workplace by USF Muma School of Business, certified in Supply Chain Management by Women’s Business Center of Charlotte, and a graduate of the YCombinator Startup School and UNC at Charlotte Ventureprise.

    Prior to her work with Charlotte Center City Partners, Rashaan founded Your Girl Inc™ an Executive Management Firm. Rashaan works with small business and nonprofit executives to increase sustainability through strategic planning, leadership development, program and project implementation, digital marketing planning and implementation, and operations creation.

    Most recently, Rashaan served as a Consultant Project Director for BlkTech Charlotte/BlkTech Interactive. Her work there aligned with her passion for decreasing the wealth gap through talent recruitment, fundraising, Startup Studio program development, Afrofuturism Event creation, and implementation, Coding and Switching Professional Development, and Networking & Coaching.

    Rashaan is a Certified Peer Counselor by the American Association of Mental Health and has been recognized as the 2019 Mentor of the Year by ACHI Magazine for her work with girls and women in the Charlotte area.

    Rashaan is Philadelphia-born and Bensalem-bred. She obtained her BA from Georgia State and has lived in Charlotte since December 31, 2004. Mrs. Peek enjoys traveling with her husband, listening to audiobooks, spending time with her children, and eating brunch with her friends.

  • Ricky Robinson

    BOARD MEMBER

    Ricky is a Charlotte native. With a Bachelor’s degree from Winston Salem State University and Master’s degree from Webster University, he has proven that education is the foundation upon which dreams are built.

    Ricky’s heart is dedicated to his family, and he cherishes every moment spent with them. However, his passion doesn’t stop there. He’s a firm believer in the power of networking, forging connections that lead to incredible opportunities. When he’s not nurturing these relationships, you can often find him on the golf course, exploring new destinations, or simply reveling in the great outdoors.

    Entrepreneurship has been ingrained in Ricky’s spirit since childhood. He dedicates most of his spare time to working on his side hustle, continually pushing the boundaries of innovation. To him, entrepreneurship and ownership are not just buzzwords – they are the keys to true freedom and the creation of generational wealth.

    Currently, Ricky is thriving in technology, serving as a Scrum Master and Agile Coach. But he doesn’t stop there; he’s a strong advocate for leveraging corporate jobs to propel your dreams as an entrepreneur.

Meet the Team

  • Dr. Alexandra Arrington

    CO-FOUNDER & EXECUTIVE DIRECTOR

    Charlotte community member, entrepreneur, and nonprofit leader, Dr. Alexandra Arrington is a former child entrepreneur turned serial quasi-entrepreneur. Alexandra attended Title 1 schools the majority of her K-12 experience and as a young hairstylist in a single parent home, entrepreneurship would support her future plans and aspirations. Her experiences fuel the passion and programs that constitute Money Magnets Club, which teaches entrepreneurship and financial literacy principles to elementary schoolers, to create more equitable opportunity for kids in Charlotte to thrive, particularly those being reared on the West side.

  • Armah Shiancoe

    PROGRAM MANAGER

    Armah J. Shiancoe is a seasoned strategic business consultant with a career steeped in developing others through practical application of frameworks in the workplace and fostering relationships with other professionals. With a Master’s Degree in Talent & Organization Development, an Executive Coaching Certificate, Actualized Performance Cycle Certificate, and a Bachelor’s Degree in Business Administration, Armah brings a wealth of academic grounding to his practical expertise. His dedication to education, coupled with a career spanning recruitment, program development, and relationship cultivation, positions Armah as an invaluable asset in guiding individuals and organizations toward holistic success in the ever-evolving landscape of business and academia.

  • Shaza Ibrahim

    CURRICULUM & SOFTWARE DEVELOPMENT SPECIALIST

    An advocate for mental health awareness, Shaza has over ten years of experience facilitating workshops on intersectional health and wellness topics. Shaza attended NC State University and received her Bachelor of Science in Environmental Science with a minor in Health. She then attended graduate school at the Johns Hopkins Bloomberg School of Public Health, where she studied Health Education. Her mission is to make mental health resources more valuable and accessible through evidence-based programming. Shaza is adept at designing comprehensive curriculum that meets specific goals, educational requirements, and standards. Shaza is deeply passionate about making wellness accessible, equitable, and supported by all.