News Release

NASD Foundation Awards $1.6M in Grants

Washington, D.C. The NASD Investor Education Foundation announced today it has awarded $1.6 million to six organizations for new educational programs and research projects intended to improve the kind and quality of investment information available to underserved segments of the investing public. Many of the grants announced today address the needs of particular groups identified by NASD's 2003 Investor Survey, including women, older Americans and minorities, as needing greater access to unbiased information about the markets and fundamental financial issues. "We are dedicated to funding educational programs and research projects that will put effective and unbiased information in the hands of each and every investor," said Robert R. Glauber, Chairman of the NASD Investor Education Foundation, who also serves as CEO of NASD. The projects funded by the awards announced today include:
  • $487,342 to American Public Media for Investor Education on Marketplace Money and Marketplace, which will produce investor education radio segments tied to timely news events and will develop interactive Web content and resources that complement the radio programming.
  • $403,875 to the Institute on Assets and Social Policy at Brandeis University for Building Investment Capacity Among New Constituencies, which will develop and deliver a model investor education program for members of civil rights organizations nationwide.
  • $210,000 to the Education Development Center for Calculating Women: Smart Investors-A TV Special and a Multimedia Investor Literacy Project, which will develop educational television video segments, Web lessons and teaching materials for women in need of basic financial literacy skills.
  • $147,623 to the National Association of State Boards of Education for K-12 Financial Literacy-Policy and Practice, which will work with members of the state boards of education to determine how to best integrate financial literacy into K-12 education.
  • $140,880 to The Ohio State University for Research-Based Investment Education Guidelines for Black and Hispanic Households, which will examine racial and ethnic influences on investment behavior to develop guidelines for effective investor education programs targeted at African-American and Hispanic populations.
  • $252,649 to the College of William & Mary for Experiments on Investment Choice: Annuities Versus Lump Sum Payments, which will focus on how information content and delivery, in combination with perceived risk, affect an investor's ability to choose investment payout options.
Later this year, the NASD Foundation will be launching a more targeted program, The Life-Cycle Investing Program, which will focus on the practical application of research about long-term investing and how ordinary people build wealth over their lifetime for retirement. In February, the Foundation launched Improving Disclosure to Investors, requesting proposals for research that examines the critical issue of improving information disclosed to investors. Grant proposals for this program must be submitted by April 7. The NASD Foundation also announced a new outreach campaign to provide financial education tools and training to members of the U.S. military and their families. More recently, the Foundation launched its 2006 General Grant Program, soliciting proposals for education programs and research projects aimed at providing investors with information and tools to better understand investing and the markets. Grant proposals for this program must be submitted by May 15. For details about grant programs and other new initiatives of the Foundation, visit

The NASD Investor Education Foundation, established in 2003, supports innovative research and educational projects that give investors the tools they need to better understand the markets and the basic principles of financial planning. The Foundation has awarded more than $4.5 million in total to organizations for educational programs and research projects targeting the underserved segments of the population. NASD is the leading private-sector provider of financial regulatory services, dedicated to investor protection and market integrity through effective and efficient regulation. NASD believes that understanding should precede investing - and that education is often the best form of investor protection. NASD's broad range of investor education programs include Investor Alerts, brochures and online resource guides on such critical topics as mutual fund class shares and 401(k) and college savings plans. This information is distributed through its Web site,, printed materials and Investor Forums.