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Financial Literacy Component(Stipend with completion bonuses) <br /> • This is an example of ONE possible structure-we will work with experts in this field to create a <br /> comprehensive financial literacy component. Ideally,this will not be managed by us, but via a <br /> partnership with another entity already specializing in financial literacy. <br /> o Equitable Wage Analysis: Hourly at$15/hr <br /> ■ Assuming 35 Employees at 25 hours: <br /> • $13,125/week in wages+$875/week payroll taxes=$14,000 weekly payroll <br /> • $252,000/season in labor <br /> • $375 week/worker <br /> ■ Ideally we would base our stipend structure on what they would make if they were paid <br /> hourly at minimum wage(assuming$15/hr) <br /> • This number could be adjusted based on financial capability. For example,we <br /> could start by growing on a smaller amount of land and hiring less participants <br /> and/or reducing hours. <br /> o Example of payment structure(numbers will change if any of the assumptions above are <br /> modified) <br /> ■ PAID OUT: $100/week <br /> ■ REMAINING: <br /> • $125/week toward a bank account or approved loan/bill (micro financed <br /> through DOVE,for example,or a car payment,cell payment etc) <br /> • $150/week- held: Every 4 weeks the total earned is deposited into a <br /> non-accessible savings account as a completion/performance bonus based on <br /> monthly evaluation <br /> o EXAMPLE: Every 4 weeks participants meet for a short evaluation <br /> program on basic workforce skills and, if they meet a positive score,they <br /> are paid accordingly. <br /> ■ Example of a Rubric: <br /> • $150:Timeliness (shows up to work on time,take only <br /> allotted time for breaks,stays a full day etc) <br /> • $150:Kind,Courteous, Professional <br /> Socialization/Communication:Treat everyone with <br /> respect,create a positive atmosphere, no conflicts <br /> leading to inappropriate confrontations, refrains from <br /> cursing/offensive speech(slurs etc) <br /> • $150: Preparedness:shows up in proper attire with <br /> anything required for the job; respects and cares for all <br /> program equipment, etc <br /> • $150:Job effort- performs with a level of effort <br /> demonstrating their desire to complete the job properly <br /> (whether or not their current skill level actually allows <br /> them to excel), receives direction with respect and <br /> attention and responds to correction well <br /> ()2()N.Uniuu Y.Decatur.IL G,,,, <br /> Goodtiau►.u•ilanlnn.o�;:; <br /> 3 <br />