Who is the Financial Empowerment Initiative (TheFEI)?
The Financial Empowerment Initiative (TheFEI) is a non-profit organization dedicated to promoting financial literacy and economic empowerment, primarily in underserved communities. Based in Edmonton with offices in Calgary, TheFEI offers a variety of programs, workshops, and resources aimed at helping individuals and families achieve financial stability and independence. Their signature programs include annual tax clinics, financial literacy in the community, and the Money and Marriage Seminars, all designed to educate participants on managing finances, building wealth, and making informed financial decisions. TheFEI is committed to breaking down barriers to financial knowledge and providing the tools necessary for people to take control of their financial futures.
Key Objectives of TheFEI
Financial Education: TheFEI offers workshops, seminars, and online courses that cover essential topics such as budgeting, saving, investing, credit management, and debt reduction. These programs are designed to be accessible and engaging, catering to various age groups and educational backgrounds.
Recognizing the importance of early financial education, Youth Empowerment:
TheFEI develops specialized programs and resources for children and teenagers. These initiatives aim to instill good financial habits and a strong understanding of money management from a young age.
TheFEI places a strong emphasis on empowering Support for Women and Minorities: women and minority groups by addressing the unique financial challenges they may face. This includes providing mentorship, networking opportunities, and tailored financial advice to help bridge economic gaps.
Through partnerships with community centers, and other Community Outreach: organizations, TheFEI extends its reach to ensure that financial education is available to everyone, regardless of their socioeconomic status
TheFEI develops and distributes a variety of educational mate- Resources and Tools: rials, including books, workbooks, online tools, and interactive platforms, to support ongoing financial education.
The Financial Empowerment Initiative (TheFEI) envisions a world where everyone has the financial knowledge and confidence to make informed decisions, achieve their economic goals, and contribute positively to their communities. By breaking down financial barriers and challenging stereotypes, TheFEI strives to createamore inclusiveandfinanciallysecuresociety.
Land Acknowledgement
The Financial Empowerment Initiative (TheFEI) acknowledges that we operate on the traditional and ancestral territories of many Indigenous peoples who have lived on and cared for this land for generations. In particular, we recognize the First Nations, Métis, and Inuit peoples whose footsteps have marked these lands for centuries.
We are located on Treaty 6 territory, the traditional gathering place of diverse Indigenous peoples including the Cree, Blackfoot, Métis, Nakota Sioux, Iroquois, Dene, Ojibway/Saulteaux/Anishinaabe, Inuit, and many others whose histories, languages, and cultures continue to enrich our communities.
As an organization, we are committed to honoring the enduring relationships between Indigenous peoples and these lands. We recognize the impact of colonization and strive to support the ongoing journey of reconciliation through our work. We aim to build relationships rooted in respect, equity, and the shared goal of empowering all communities.
We are grateful for the opportunity to live, learn, and work on this land, and we pledge to contribute to a future that respects and celebrates Indigenous peoples and their traditions.
Letter from the Board President
As the Chair of the Board for the Financial Empowerment Initiative (TheFEI), I’m thrilled to share some exciting developments with you. Our mission at TheFEI is to empower communities through financial literacy and economic inclusion, and thanks to your unwavering support, we are reaching new heights in our journey.
This year, we’re expanding our impact in some truly significant ways. We targeted the Somali, South Sudanese and Nigerian communities. We recognize that financial literacy is crucial, especially for families as they begin to navigate their financial futures. These programs will provide communities with the knowledge and skills they need to manage their finances wisely, avoid debt, and build a strong financial foundation for their future.
In addition, we are excited to announce that our popular Money and Marriage events will now be held quarterly. These events have become a cornerstone of our efforts to support couples in building strong financial partnerships. By offering practical advice and facilitating open conversations about money, we aim to strengthen relationships and help couples achieve their financial goals together. These sessions have been met with overwhelming enthusiasm, and we’re eager to bring them to more communities throughout the year.
Furthermore, we are also committed to expanding our educational resources by creating more publications focused on enhancing the teaching of financial literacy. These materials will serve as valuable tools for educators, students, and community members alike, helping to make financial education more accessible and impactful. By developing a wide range of publications, we aim to reach even more people and provide them with the guidance they need to navigate their financial lives with confidence.
Our focus on empowering youth, women, and under represented communities remains at the heart of everything we do. The expansion of our programs, the increased frequency of our events, and the development of new publications are all part of our broader commitment to breaking down financial barriers and creating opportunities for everyone to thrive.
Of course, none of this would be possible without you—our dedicated supporters. Whether you have contributed as a donor, volunteered your time, partnered with us, or participated in our programs, you are a vital part of the TheFEI family. Your belief in our mission and your active involvement drive us forward every day.
As we continue to grow, we invite you to join us in these exciting new ventures. If you have any questions, ideas, or would like to get more involved, please do not hesitate to reach out. We are always eager to explore new collaborations and welcome your input as we work to empower even more people through financial education.
Thank you for your continued support and for being an integral part of our journey.
Tayo Elnathan Board President
The Financial Empowerment Initiative (TheFEI)
Letter from Yinka Adeoye: Board
Member
As the Outreach Director at The Financial Empowerment Initiative (FEI), I take great pride in fostering meaningful relationships with our community members and partners. Our mission to empower individuals through financial literacy and economic resources is at the heart of everything I do. Over the past year, I have worked diligently to connect with Black-serving organizations, community leaders, and grassroots networks to ensure our programs resonate with the unique needs of the communities we serve.
One of the highlights of this year has been the expansion of our culturally appropriate financial literacy workshops and free tax clinics. These initiatives have enabled us to help more individuals and families access the tools they need to achieve financial stability and generational wealth. It has been deeply rewarding to see the direct impact of our efforts, especially among seniors, youth, and new immigrants navigating the complexities of financial systems in Canada.
Our work is grounded in trust and collaboration. I am particularly grateful for the partnerships we’ve cultivated this year, which have strengthened our ability to deliver impactful programs. By mentoring Black business owners, supporting leadership development in community organizations, and addressing systemic barriers to economic security, we are laying the foundation for long-term success in the communities we serve.
As we look to the year ahead, I remain committed to advancing FEI’s mission with transparency, fairness, and integrity. Together, we will continue building a financially inclusive future for everyone.
Yinka Adeoye Outreach Director, The Financial Empowerment Initiative
Letter from Dotun Ayodele-Bamisaiye: Technical Partner, Dexteritas
As I reflect on the past year at the Financial Empowerment Initiative (FEI), I am filled with gratitude and pride for all we’ve accomplished. In my role as Technical Partner, it has been a privilege to witness firsthand the profound impact our programs have had on individuals and families across Alberta. From our tax assistance services to our financial literacy workshops, every step we’ve taken this year has been a step closer to fulfilling our mission of empowering communitiesthroughfinancialeducation.
One of the highlights of the year was our tax assistance program, where we supported 1,576 individuals and families with their tax filings. This initiative not only helped participants navigate the complexities of tax season but also ensured they received the refunds and benefits they deserved, directly contributingtotheirfinancialstability.
Beyond tax assistance, we made remarkable progress in our training programs. Over 200 participants gained valuable skills in financial literacy and entrepreneurship, equipping them with the knowledge to make informed financial decisions and pursue their entrepreneurial aspirations. Witnessing their growthandconfidencehasbeenincrediblyrewarding.
Our Financial and Entrepreneurship Evenings were another major success. With more than 500 attendees, these sessions became a hub for inspiration, networking, and learning. The enthusiasm and feedback from participants have been a powerful reminder of the critical need for financial education and the differenceitcanmakeinpeople’slives.
Of course, the year was not without its challenges. The rapidly evolving digital landscape required us to innovate and adapt to ensure our programs remained accessible and impactful. I am proud of the resilience and creativity of our team, whose dedication made it possible to overcome these hurdles and continue delivering exceptional services to our community.
Looking ahead, I am excited about what the future holds. We are committed to expanding our digital tools and platforms, making our resources more accessible, and introducing new initiatives that will empower even more individualstotakechargeoftheirfinancialfutures.
Finally, I want to extend my deepest gratitude to our partners, supporters, and participants. Your trust and support fuel our efforts and inspire us to keep striving for excellence. Together, we are creating a lasting impact, and I am honored to be partofthisincrediblejourneywithyou.
Thankyouforbelievinginourvisionandforbeinganintegralpartofourstory.
Warm regards,
Dotun Ayodele Bamisaiye Technical Partner, Financial Empowerment Initiative (theFEI)
Board Directors
Ahmad K. Sanni PMP
TayoElnathan is the Executive Director and Board President of the Financial Empowerment Initiative (theFEI), a non-profit organization dedicated to promoting financial literacy and empowerment. Under her leadership, theFEI has expanded its impact through community tax clinics, financial literacy workshops, and signature programs like the Money and Marriage Seminars. Passionate about creating equitable access to financial education, Tayo works tirelessly to empower individuals and families with the tools needed to achieve financial stability and independence. Her dual role as Executive Director and Board President reflects her strategic vision and unwavering commitment to community upliftment, which continue to drive the FEI’s success in Alberta and beyond.
Ahmad Sanni is a seasoned IT professional with an impressive track record spanning over three decades. Originally from Nigeria, Africa, Ahmad and his family embarked on a journey to Edmonton, Alberta, Canada, in 2007, eventually making the picturesque city of St. Albert their cherished home in 2009.
With a deep appreciation for diverse cultures and a natural affinity for socializing, Ahmad's career in IT flourished. He contributed significantly to the IT landscape as a Project Manager and Application Support Operations Manager with ATCO I-Tek, the IT arm of ATCO Group, from 2009 to 2014. Following the acquisition of the company by Wipro, he continued his dedicated service, supporting ATCO Group IT until 2021 when he embarked on a new venture. Ahmad established his own IT service management company, committed to delivering top-notch IT services to Small and Medium-sized Businesses (SMBs), encompassing both for-profit and nonprofit organizations. In addition, his company provides valuable training and mentorship in various facets of IT, including Project Management,helpingindividualsattainessentialcertifications.
YinkaAdeoye is the Community Relations Director at the Financial Empowerment Initiative (theFEI). With a strong commitment to fostering meaningful connections, Yinka plays a pivotal role in building partnerships that support the FEI’s mission of financial literacy and empowerment. His work involves engaging with diverse community organizations, facilitating impactful programs, and ensuring that financial education reaches underserved groups, including seniors, newcomers, and Black communities. Yinka’s dedication to inclusivity and collaboration is instrumental in advancing FEI’svisionofcreatingafinanciallyempoweredsociety.
Tayo Elnathan
Yinka Adeoye
Kemi Aina
Program Updates
TAX CLINICS IN EDMONTON AND CALGARY
This year, our tax clinics in Edmonton and Calgary were a resounding success. We assisted 1,576 individuals and families with their tax filings, ensuring they received the refunds and benefits they were entitled to. These clinics provided critical support to those who might otherwise struggle with the complexities of the tax system. By offering these services free of charge, we helped alleviate financial stress for many in our community, reinforcing our commitment to financial empowerment and inclusion.
LEADERSHIP AND ENTREPRENEURSHIP EVENINGS
Our Leadership and Entrepreneurship Evenings have continued to grow in popularity and impact. Over 500 participants attended these sessions, where they gained valuable insights into leadership principles, business development, and financial management. These events provided a platform for aspiring entrepreneurs to connect with like-minded individuals, share experiences, and learn from experts in various fields. The positive feedback we received underscores the importance of these evenings in fostering a culture of entrepreneurship and leadership within our community.
MONEY AND MARRIAGE SEMINARS
Our quarterly Money and Marriage Seminars have become a cornerstone of our financial education programs. These seminars focus on helping couples navigate the financial aspects of their relationships, from budgeting and saving to making joint financial decisions. This year, we trained over 200 people through these seminars, equipping them with the tools and knowledge to build strong, financially sound partnerships. The seminars have been highly praised for their practical advice and the open, supportive environment they provide for couples to discuss financial matters.
BLACK WOMEN ENTREPRENEURS
As a branch of The Financial Empowerment Initiative (TheFEI), BlackWomenEntrepreneurs.ca is dedicated to empowering Black women by fostering financial literacy, entrepreneurial growth, and leadership development. This platform provides tailored resources, workshops, and networking opportunities to help women build sustainable businesses and navigate the challenges of entrepreneurship. By aligning with TheFEI’s mission of financial empowerment and community impact, Black Women Entrepreneurs amplifies the voices of Black women, equipping them with the tools and strategies to achieve economic independence and professional success. Together, we are creating a more inclusive and thriving ecosystem for Black women entrepreneurs in Canada.
Why Financial Literacy?
Grassroots learnings has shown us the following:
Lack of understanding of the financial system in Canada amongst people of color
Modest income earners had a distrust for the financial system
Lack of understanding of the connection between tax filing and benefits
Mindsets fuels by myths and misconceptions regarding finances
General lack of financial literacy by immigrants -students, refugees
Progress Timeline
Financial literacy education via 2021 book clubs and podcasts
Ongoing education for leadership and entrepreneurs 2022
Inaugural tax clinic at the Africa Centre
Name change to the Financial Empowerment Initiative
Launched Programs to support Entrepreneurship (BWE) and Leadership (Ed’s Talk)
Open second location for tax clinic in Calgary AB
Began 6-session drop in style approach to financial literacy classes
Tax clinic in 4 locations (2 in EDM & 2 in Calgary)
Ongoing education for personal financial literacy
Mission
Mission
To work collaboratively with the community to remove shackles of financial ignorance from our communities.
We know that our (Black) people want to rise and thrive. We know that our people want better tomorrow for themselves and their families. A future that is secure, financially, and in all other aspects of life. We also know that there is a dearth of impactful information aimed at supporting and empowering the black immigrant.
Our mission at TheFEI is to provide the necessary information and knowledge base to accomplish the following:
• Lay the right financial foundation
• Access the right resources
• Tear down old mindsets and build new thought processes
• Create generational wealth
How we make it happen
Vehicles of Financial Literacy
ANNUAL COMMUNITY TAX CLINIC
aimed at the community
MULTIPLE SESSIONS OF FINANCIAL LITERACY
aimed at the individual
BLACK WOMEN ENTREPRENEURS
knowledge and mentorship for the black woman business owner
SUSTAINING YOUR NONPROFITS
knowledge for the community nonprofit leader
Our Stories
Tax Clinic from the
Mr. A, an immigrant entrepreneur from Jamaica, had 10 years of tax return outstanding as of 2021. He came to the tax clinic and we supported him by preparing and filing his 10 years of backlogged tax returns.
Impact
He was able to receive over $20K from back refunds and benefits due to him from the taxes he never filed. He came back in 2022 to file his tax return again, he was so excited to tell us that he invested most of the $20K into his new company. He was also able to travel back to Jamaica to see his aging mom.
Mr. C, an elderly man, came by the tax clinic to have 5 years of tax returns prepared. He had been homeless and could not access any government benefits. We were able to bring his taxes up to date.
Impact
With being caught up on his tax filing, he is now able to apply to secure housing and get back on his feet as a contributing member of society. This is not an unusual story as we have encountered many such cases over the last three years.
Ms B, a young woman who had just started her career needed help with tax filing. She wanted to obtain additional information about taxes and how she can plan. We provided her information on using donations and retirement savings as tools. Impact
She came to the tax clinic the following year with a lot more income. With the advice she received, she was able to open an RRSP account, helping her save for the future, and receive a refund, which she is planning to use for her first home purchase.
Stories from the Financial Literacy Sessions
At the invite of the Africa Centre, we facilitated and intimate Partner Violence session with a pointed focus on Financial Literacy. At the point when the sessions focused on budgeting and benefits and credits, the conversation became very heated and it became clear that a dire need existed to discuss financial literacy in the specific context of intimate relationships.
Impact
We have incorporated the learning from this grassroots event and developed a series of seminars which we will begin to deliver in May 2024.
Progress in Numbers
In 2022
We filed 367 income tax returns with a volunteer clinic of 4 preparers and 1 administrative assistant
Our goal was to:
Support 300 low and modest-income individuals and families of black and racialized communities to attain a better quality of life by accessing government benefits available to them
Access to these benefits (Canadian Child benefit, GST credits etc.) would be secured by filing of tax returns
Use this opportunity to offer timely financial literacy information and see how we can tailor future service delivery
In 2023
We filed 590 taxes impacting over 600 families
Volunteer capacity across all locations was 6 preparers and 1 administrative officer.
We served in 2 locations
- Edmonton
- Calgary
Started culturally sensitive Financial literacy classes
Started collaborating with other community organizations to hold financial literacy sessions
Held weekly leadership sessions with community leaders.
In 2024
Filed over 1000 personal income taxes
5 administrative volunteers, 25 volunteer tax preparers and 5 volunteer financial literacy facilitators. On course to provide culturally sensitive financial literacy to over 300 families
• All tax filed numbers verified by CRA. •
Connecting with various community associations to provide culturally sensitive financial literacy sessions over the course of the summer.
PROGRESS IN NUMBERS
2024 by heritage
PROGRESS IN NUMBERS
2024 by location of registration
PROGRESS IN NUMBERS 2024 by English vs translation
I need a translator 5.5%
PROGRESS IN NUMBERS
2024 by Returning vs First timers
I have been here before 15.6%
Our other programs
E.D’s Talk
This is a community of nonprofit leaders mostly of the BIPOC heritage focused on supporting the development of their communities. We share information on opportunities available and provide education via webinars and speaker sessions in the summer, fall and winter months.
Black Women Entrepreneurs (BWE)
A crucial part of TheFei is the Black Women Entrepreneurs (BWE) is a dynamic community and platform dedicated to empowering and supporting Black women in business across Canada. At BWE, we believe in the strength of collaboration, mentorship, and shared experiences to foster growth and success. Our mission is to provide resources, networking opportunities, and a supportive environment where Black women entrepreneurs can thrive, scale their businesses, and achieve their fullest potential. We are committed to amplifying the voices of Black women in the entrepreneurial space and promoting economic empowerment through education, advocacy, and innovation.
Black Women Entrepreneurs (BWE)
In August 2024, we proudly collaborated with the Africa Centre to host an impactful event that brought together entrepreneurs, thought leaders, and community members to celebrate and uplift the achievements of Black women in business. The event featured inspiring speakers, networking opportunities, and showcased the incredible talent within our community. For more information, visit www.BlackWomenEntrepreneurs.ca
Our Publications
2023 in Pictures
2023 in Pictures
2023 in Pictures
2023 in Pictures
