#649 – #WSBSummertimeCEO UpdateAug 22, 2017
Back in early summer we shared with you a plan put together by Washington Savings Bank in Effingham, Illinois, to help young entrepreneurs run their own business – a lemonade stand. The bank provided cups, a pitcher, mixing spoons, lemonade mix, sanitizing wipes, #WSBSummertimeCEO button, Income Statement Sheet, and start-up money to 6 – 12-year old’s in the Effingham area. The young entrepreneurs were asked to bring in their income statements to the bank before school started to receive a Certificate of Completion and to have their picture placed on the WSB Summertime CEO Hall of Fame.
We spoke with Allison Donsbach, coordinator for the program, this week. Allison said the bank was thrilled with the first-year participation, and is looking at ways to enhance the program as they move forward. More than 30 young people participated in the program. Many of those participants thought “outside the box” and offered not only lemonade, but also lemonade slushies, cookies, and popcorn. One entrepreneur even sold “jokes” for 25 cents along with his lemonade.
According to Allison, one of the most rewarding results of the program was the amount of money donated to local charities from the young CEO’s. More than $2,000 was donated to Blessings in a Backpack, the Crisis Nursery, and others from the Summertime CEO participants.
Due to the success of this first year, the bank is already making plans to offer the program again next year and looking at ways to encourage more kids to become involved. We will check back with the bank next spring! Congratulations Washington Savings Bank on a successful first run of their Summertime CEO program!