Here's a little background about the FOUNDER...
Michael Olaiya
Michael Olaiya, the founder and Executive Director of The Carter & Olay Foundation, grew up in an underserved community in Washington, D.C., where financial instability was a common challenge and daily struggle.
He understands the struggle of the underprivileged...
Drawing from his own experiences and understanding the critical role financial literacy plays in achieving financial stability, Michael dedicated his life to creating equitable education opportunities for children.
Michael has dedicated his passion and time towards the advancement of educational equity, and serves as a founding board member and Chairman of PEACE Academy Charter, Atlanta's first tuition-free public charter school with an Afrocentric curriculum.
Inspired by organizations like the World Literacy Foundation and Room to Read, Michael established The Carter & Olay Foundation with the vision of reimaging a world where the racial wealth gap is bridged through the empowerment of children of color integrating early-stage financial education in order to build a prosperous future.
Michael has a deeply personal connection to the mission of financial literacy and education...
Growing up in an underserved area of Washington, D.C., Michael, the oldest of 4, experienced firsthand the challenges of financial instability having moved residences four times within a 5-year span.
Despite these hardships lived through as a young child, he was fortunate to benefit from neighborhood extensions in the form of community recreation centers, like Martha's Table, that provided vital support to less fortunate children and families. These centers offered donated food, clothes, mentoring programs, field learning experiences, and activities designed to keep children in school and off the streets.
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However, although community support was available as he witnessed the financial struggles of his parents trying to make ends meet week after week, one crucial component was missing from his childhood development—financial education. Concepts such as accounting, saving, budgeting, and money management were not part of any curriculums in school, nor family discussion outside of school, leaving a significant gap in his and his peers' education.
As he grew to become more exposed with different races in the workforce, in business, professional organizations and other environments, he learned that people of color were at a disadvantage as it related to our understanding of wealth, finances, accounting and money management.
As Michael grew older, he saw the profound impact this lack of financial literacy had on people of color, placing them at a considerable disadvantage compared to other racial groups. This disparity limited access to essential financial tools and opportunities, such as home financing, business funding, credit, retirement accounts, investments, real estate, college education, grants, trusts, and endowments. This realization led him to dedicating his time toward the creation of The Carter & Olay Foundation.
Michael felt a compelling need to give back...
He recognized that bridging the financial literacy gap was crucial to empowering future generations. This realization led him to dedicate his life to creating equitable education opportunities for children, particularly those in underserved communities.
Michael's passion for financial literacy is not just theoretical; it is rooted in his lived experience. As a founding board member of PEACE Academy Charter, Atlanta's first tuition-free public charter school with an Afrocentric curriculum, he has already made significant strides in providing quality education to children of color. However, he knew there was much more to be done.
Inspired by leading organizations like the World Literacy Foundation and Room to Read, Michael established The Carter & Olay Foundation with a clear vision: to bridge the racial wealth gap and empower children of color through early-stage financial education. He believes that introducing financial literacy concepts during early childhood development is critical. By creating engaging, educational children's books, Michael aims to make financial literacy accessible and enjoyable for young minds.
Michael's journey is a testament to the transformative power of education and community support...
His vision extends beyond illustrative children’s books...
He plans to scale this mission through children's programming and syndicated television shows that reach audiences of color around the world. His story is one of resilience, gratitude, and a relentless pursuit of equity. Michael's "why" radiates through every initiative of The Carter & Olay Foundation, touching lives and creating lasting change for future generations.