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Cygnet Institute Garners IRS Nonprofit Status


 
PRLog - Aug. 26, 2014 - The U.S. Internal Revenue Service (IRS) has just declared Cygnet Institute of Personal Financial Literacy (http://www.cygnetinstitute.com/) officially qualified to receive tax exempt contributions as a 501(c)(3) nonprofit organization. Cygnet Institute is an educational organization that specializes in promoting personal financial literacy and has been teaching people how to make financial decisions to achieve their goals since 1989.  The new nonprofit status means that the Institute will be able to present more low cost and no cost financial education programs to a wider variety of organizations as well as the general public.

Cygnet Institute specializes in using an experiential learning approach designed to engage participants in an interactive, self-completing process so they can make good decisions regarding Retirement, Investing, Estate Planning, College Funding, Career Choices, and Managing Debt. Program participants actually create their own plans and related financial documents based on their personal information while maintaining absolute confidentiality. The goal of the Institute is to help individuals of all ages and financial experience levels learn how to build and execute financial plans in a way that they can understand and control. Prior to achieving its nonprofit status, the Institute usually presented programs such as the employer-sponsored Lifestyle Quality Financial Management program at GM Powertrain as well as similar fee-based programs for Amerisure, Walsh College, the UAW Tuition Assistance Plan, etc.

Cygnet Institute’s educational programs are based on sound fiduciary principles that have been researched, developed and field tested by Cygnet Financial Planning, Inc., a pioneer in the development of financial planning systems and services since 1982.

“We use an interactive, step-by-step approach so our learners gain new skills as they work through a series of financial topics all the while knowing that their information and plans are not tied to any particular company or product,” according to Cygnet Institute founder Ted Lakkides, CFP®.  “In fact, our charter and new nonprofit status preclude accepting or referring program participants as clients, or for any other purpose,” he continued.

The new designation comes just as Cygnet Institute, the Michigan Council on Economic Education (MCEE) and the Waterford Township Public Library are combining their resources to offer a FREE adult Financial Education Series for Waterford residents.  Lakkides explained that the goal for the series is to help local residents learn how to personally plan and manage their financial resources without worrying about being tied into a particular financial institution or broker.

Beginning in late September, the sessions will be held in the Library’s Community Room (5168 Civic Center Drive, Waterford, MI 48329). Waterford Township residents can find more information and enroll at http://waterford.lib.mi.us/content/financial-education-se... or contact the Waterford Township Library’s Adult Program Registration line at 248-618-7694.

About Cygnet Institute:

Cygnet Institute (http://www.cygnetinstitute.com/ ) is a 501 (c) (3) non-profit educational organization that specializes in promoting adult financial literacy and has been teaching people how to make good financial decisions to achieve their goals since 1989. The Institute’s experiential learning systems are designed to engage workshop participants in an interactive, self-completing process during which they create their own financial plan and other related documents based on their own personal financial information while maintaining absolute confidentiality. The goal of the Institute is to help individuals learn how to build and execute their own financial plans in a way that they can understand and control.

As a non-profit educational entity, Cygnet Institute and its programs are NOT a marketing front for the sale of financial services or products. In fact, Cygnet Institute's charter prohibits accepting or referring program participants as clients, or for any purpose.

About MCEE:

MCEE is the leading voice for academic based, well-rounded economic education in Michigan. By focusing on economics, entrepreneurship, and personal finance, MCEE brings engaging programs to Michigan’s teachers, classrooms, and citizens. For more info, visit http://www.mceeonline.org/

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Media contact:        Sue Voyles, 734-667-2005

sue@logos-communications.com

Christine D’Angela, 586-601-4340

christine@logos-communications.com

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