Why Spencer Hilligoss and Jennifer Morimoto Chose Financial Literacy as Their Family’s Philanthropy
For me, financial literacy started early. My mom taught me how to save, how to budget, and how to understand the real cost of spending. She used to say a dollar spent was not just a dollar spent, it was a dollar and thirty cents earned after taxes. Those small lessons became a lens through which I understood opportunity, discipline, and independence.
Spencer’s story is different. He grew up in a home where money was a source of tension rather than learning. His parents spent extravagantly and saved very little, and financial instability created ongoing stress. Conversations about money were not positive or instructional. They were arguments. He saw firsthand how a lack of financial clarity can shape a family’s day to day life and emotional landscape.
Together, we represent what we jokingly call a tale of two money stories. One shaped by early financial education. One shaped by the absence of it. Those two experiences led us to the same belief. Understanding money should not depend on luck, upbringing, or access.
How entrepreneurship sharpened our perspective
When we became entrepreneurs and launched our own company, our relationship with money deepened in new ways. We began questioning the default path we had grown up with. Work hard, contribute to your 401k, and hope everything works out.
We realized that traditional financial advice leaves too many people behind. It is limited, one dimensional, and often skewed toward people who already have a financial foundation.
As we grew our business, we kept returning to the same idea. People cannot make informed financial choices if they never receive the basic education that helps them understand the system they are operating within.
Why we chose to go all in on financial literacy
There are countless worthy causes. For us, financial literacy is personal. It shaped who we are as individuals and as a couple. It also sits close to the work we do every day, understanding money, managing risk, and helping people build more stable futures.
We believe two things strongly.
If you have the ability to give more than you have been given, you should.
Money should not be a mystery. It should be a tool.
We want people to understand how money works so they can recognize both the opportunities and the obstacles within our economic system. Clarity builds confidence. Confidence leads to better decisions. Better decisions create long term stability.
Why BAFEF was the right home for us
The first time I engaged with BAFEF, something clicked. The organization does the work in a lean and grounded way. No splashy galas. No unnecessary overhead. Just volunteers who believe in giving young people practical financial tools that can change the direction of their lives.
BAFEF is the only nonprofit I work closely with and that choice was intentional. Financial responsibility inside a nonprofit matters to me, and BAFEF models exactly what it means to put donor dollars to work intelligently. The organization’s own financial literacy shows up in its culture and that matters.
Every time I see students have an aha moment during a workshop, it reinforces that we are on the right path. Learning about money becomes less intimidating and more accessible. You can watch the shift happen. The topic starts to feel like it is for them.
The bigger vision
We believe financial literacy is a form of equity.
It is a form of empowerment.
It provides tools that can change the trajectory of a life.
Our hope is simple.
That more people understand how money functions in the real world and feel equipped to navigate it.
That they see risk and opportunity clearly rather than guessing or hoping.
That they build confidence instead of fear when thinking about their financial futures.
Financial literacy is not just about dollars.
It is about dignity, agency, and stability.
It is about closing gaps that should not exist.
That is why Spencer Hilligoss and I chose to go all in.
That is why we are proud to support BAFEF.
And that is why we believe this work matters now more than ever.