Not far removed from first arriving in the United States from China, Elena Zee was a Columbia Business School graduate student working towards her master’s degree in economics when she realized that she wasn’t set up for financial success.
“I had my first job and I started earning income, living on my own and had an opportunity to purchase a home. That’s when I realized I have no idea how a mortgage works,” Zee said. “I was offered this 401K plan opportunity and I had no idea where to begin, yet I was highly educated. I learned that if you’ve never had access to financial or economic education in a way that is applicable to real life, it will prevent you from growing wealth and being successful down the road.”
A daughter of two high school teachers, Zee learned the importance of education at an early age. As a young child growing up in China, the Asian cultural emphasis placed on education hammered home the point.
It comes as no surprise that Zee excelled academically. After immigrating to New York in 1986 to live with relatives who sponsored her studies in the United States, she graduated with honors from her high school in Massachusetts. She proceeded to earn double bachelor’s degrees in economics and math from Wellesley College before completing her master’s degree from Columbia University.
Immediately out of Columbia, Zee started her professional career at American Express, where she rose through the ranks during a nearly 14-year tenure elevating to director of international operations and vice president of information management.
Her introduction into the nonprofit world started with a chance interaction at a Columbia alumni reception. There, she was introduced to a nonprofit whose mission was financial and economic literacy. It was in that moment where she thought back to her upbringing and challenges she faced navigating her own financial and economic illiteracy.
“I remember my heart skipped a beat because it all resonated with me – the financial, economic literacy, teachers, education,” Zee said. “This was knowledge I wish I had when I was in middle school and high school. I wanted to learn more about this organization and how I could get involved.”
In 2009, Zee started a term on the board of Arizona Council on Economic Education (ACEE). Four years later, she was hired as ACEE’s President & CEO.
Arizona Council on Economic Education dates to the early 1970s, when a group of passionate teachers came together because they felt economics and personal finance life skills were missing from classrooms. They began to develop lessons that could be taught in school and shared those with fellow teachers. The group quickly multiplied and today ACEE has 13,000 teachers statewide who use its curriculum, resources and instruction strategies.
ACEE is a statewide Arizona organization that aims to reach and teach students to become financially and economically responsible in work and life. The organization does so by training Arizona K-12 teachers, engaging students and coaching parents through programming.
“We know students learn better when they see the relevance of what they’re learning and when it connects with real life. When you have money as a centerpiece, what better way to get students interested,” Zee said. “The easy hook is earning money, keeping it and growing it. It is cross-curricular. When the students learn about depression, inflation, interest rate – they understand how to make those connections, how it impacts their personal lives and their future families. It helps them realize what it takes to become a responsible adult early.”
Annually, ACEE serves more than 300,000 K-12 students with 70% from low-to-moderate-income families. ACEE has reached more than 2,000 public and charter schools in all 15 Arizona counties.
ACEE is a four-time Fiesta Sports Foundation Grant Cycle recipient, with last year’s funds supporting its Financial Fitness in Action program, which equips students in 7th-12th grade with vital financial skills for adulthood. Financial Fitness in Action partners schools and ACEE to provide students with a fun and interactive post-high school simulation of saving, spending and budgeting for life decisions tailored to their desired careers.
The Financial Fitness in Action (FFA) program was born from an idea by Julia Wright, current ACEE marketing & programs consultant, in 2017-18. Wright, a teacher at the time, received a professional development scholarship from ACEE that put the concept that became Financial Fitness in Action in motion. After a couple of years of supporting Wright, ACEE officially took on the FFA program, which allowed it to be shared statewide.
Therein lies the beauty of Arizona Council on Economic Education. Programs and resources are created and tested by teachers. Add in financial support from organizations such as Fiesta Sports Foundation and those same programs can extend exponentially outside the walls of a singular classroom.
“Our partnership with Fiesta Sports Foundation has been tremendous. It really helped us broaden our reach to test these new programs created by our passionate teachers,” Zee said. “With your support, every year we serve 600 schools and, because of your support, students and teachers tell us that students become more confident and understand their relationship between education and earning income, growing wealth and building it. We’re truly grateful and couldn’t have done it without Fiesta Sports Foundation’s support.”
As impactful as ACEE is today, for Zee – who became a naturalized U.S. citizen in 1998 – she is steered by her upbringing when leading the charge.
“My culture has a lot to do with how I approach my day-to-day,” Zee said. “Number one, a strong work ethic. Developing skills and competency is super important in my culture. You must be good at what you do and that’s a given – non-negotiable – so I constantly look for opportunities to improve my personal and professional growth, and I always support the growth of our staff as well.
“The strong sense of loyalty, accountability and commitment are important too. When we make a promise to deliver something, we move mountains to get it done. We honor donors’ intent very seriously and we proactively communicate to build these partnerships.”
