Every weekend growing up, Monica watched her parents take out pen and paper to track all of their week’s expenses. As an immigrant family paving their way in the U.S., balancing the books enabled them to save for little joys like ordering pizza on a Friday night, and eventually send Monica to college. 

“[My mom] came to this country for education. It wasn’t just for hers, it was for ours. She realized that education empowered her to be able to make decisions on their own, to own a home by themselves, which they’ve never done before… I saw that growing up, and she wanted to give that gift to me.” 

College was a far-fetched dream for most of Monica’s childhood, but the financial strategies her parents learned while adapting to life in the U.S. were key in bringing that dream to life. When she got to university, Monica fell in love with her investing class and quickly understood the relationship between numbers, markets, and implications on people’s well-being.

“It wasn’t about the math. It was about what the math was helping people do… It was an enabler of more dreams for people.” 

Decades later, the gift of education from Monica’s parents is one that keeps on giving — her own daughter has already taken her first investment class in high school, marking the third generation in her family taking on key financial tools to bring their dreams to life. 

“I’m a testament to how important these [financial] skills are to get into the hands of all families…”

“I’m a living proof of how education, access to learnings of financial markets and how they work, has led me to get a better education, to work at this incredible company, to have the opportunity to partner with a place like MAF, and my daughter has lived through seeing me do that. At this point, we’re going to have the three generations of people who realize that education and access is a really important toolkit to carry around in their backpack.”

Today as Managing Director and Global Head of Multi-Asset & Portfolio Solutions at J.P. Morgan, Monica leverages financial tools and strategies to bring her clients’ own dreams and joys to life. We’re thrilled to welcome Monica to MAF’s board of directors, bringing her lived experience and financial expertise to help create a more equitable world for the families we serve.

Last April, the Motley Fool Foundation named MAF CEO José Quiñonez as one of its first Financial Freedom Rule Breakers. The Motley Fool Foundation is a non-profit focused on financial freedom for all, collaborating with trusted partners to co-design an inclusive system and world where everyone benefits when the economy flourishes.

“Financial freedom is really foundational for every dream realized.”

—MAF CEO José Quiñonez

With the Motley Fool Foundation’s support, we’re uplifting the stories and challenges facing immigrant communities as they work to improve their financial security. And now, as we approach the one-year anniversary of our partnership, we’re uplifting highlights from the past year: 

José joined the Motley Fool’s “Rule Breaker Investing” podcast to share MAF’s vision for a world where we trust people as the experts of their own financial lives and change the narrative of what’s possible when we use a community-centered approach.

In the Motley Fool Foundation’s August “Spark Conversation” series, José joined Alison Lingane, co-founder of Project Equity, and Michael Zakaras, Director of Strategy at Ashoka, for a discussion about how we can support people in moving from financial invisibility to financial freedom.

We’re thrilled to partner with the Motley Fool Foundation to share insights into what’s working to bring about broader change for low-income and immigrant communities. We look forward to another year of rule-breaking together, working to create a financial system that recognizes the full financial potential of everyone.

John A. Sobrato is an example of someone who shows up, does more, and does better. At the start of the pandemic, John reached out to MAF with a clear goal: to support immigrant families in San Mateo County who were excluded from federal relief. 

John, Board Chair Emeritus of Sobrato Family Foundation, gave $5 million himself to support our Rapid Response emergency cash assistance efforts. But he didn’t just stop there. John put in the work — writing and calling family, friends, and neighbors for support, more than tripling the initial fund for the San Mateo County Immigrant Relief Fund. 

“His calls got to a point, as he once told me — a little stunned, but proud at the same time:  ‘José, they’ve stopped returning my calls!’” MAF CEO José Quiñonez recalls. “I responded, ‘Welcome to my world, John!’”

That’s why at MAF’s 15-year quinceañera celebration, John was presented with the Padrino Award.  

“Typically, padrinos and madrinas are the guests of honor, the people everyone looks to with awe and reverence. They’re the ones who sponsor the cake, after all,” José said, while presenting the award. “But they are more than that — Padrinos and Madrinas are mentors and role models, advisors, and guides for young people through life.”

While John couldn’t be there in person to accept his butterfly plaque, Sandy Herz, President of Sobrato Philanthropies, did so on his behalf. “When he sees something he thinks is wrong and unfair, it becomes a mission for him,” Sandy said of John. “And he doesn’t just put money down. He invests his time, he invests his network, and he invests his relationships. He won’t ever do it alone. He brings others along with him because changing the world is a team sport.” 

“I hope there’s never another pandemic,” John said to the audience, via a pre-recorded video. “But I take comfort in knowing there is an organization like Mission Asset Fund that will be there to support immigrant families with dignity and respect.” 

Meet the MAF Madrina: Jenny Flores.

MAF turned 15 this year, and of course, we had to celebrate with a quinceañera! This was our first in-person gathering in over two years, bringing together clients, partners, funders, friends, and of course, MAFistas, all under the same roof. 

The evening was all about community and connection. “There was really no distinction between staff, funders, board members, La Cocina caterers,” said Katherine Robles-Ayala, MAF’s Philanthropy Manager. “Everyone was just enjoying each other’s company. I don’t know if I could see this anywhere else beyond MAF. [It] was just really beautiful.” 

Together, we reflected, we celebrated, and we dreamed. And we did so in the neighborhood where it all started — in San Francisco’s Mission District. KQED generously hosted the party in their newly-renovated HQ, and we filled all four stories with good food and good music. Between the rooftop dance floor, La Santa Cecilia’s concert, and food catered by MAF clients at La Cocina, there were plenty of highlights:

Reflect.

MAF Founder and CEO, José A. Quiñonez, kicked off the evening with welcome remarks. He started from the beginning: when a Levi Strauss denim factory closed down in the Mission and paved the way for a new possibility — a new organization that would support the financial lives of low-income immigrants.

“MAF was a gamble from day one,” José said. “We started our work just up the road from here, on the second floor, on top of a local cafe. We had a small office but a big vision.”

From MAF’s origin story to the nationwide organization it is today, MAF has always worked to put the best of finance and technology in the service of immigrants. José recalled stories about working with clients to build their credit scores after being excluded from mainstream finances, showing up for DACA recipients when the Trump administration threatened DACA’s existence, and launching the largest guaranteed income program for immigrant families excluded from federal COVID-19 relief to help them recover faster.

These zero-interest loans and grants supported immigrants and people of color – helping them to build credit scores, increase savings, and lower debts. And since opening our doors, we have serviced more than 90,000 grants and loans, reaching thousands of people across the country.

“We have to show a better path forward,” José said. “And we are doing it by building real solutions rooted in the lives of marginalized people, and by celebrating every victory with joy.”

Of course, we didn’t do this work alone. In quinceañera tradition, MAF named a Padrino and Madrina of the night. Padrinos and Madrinas are more than party sponsors — they are mentors, role models, advisors, and guides. “They hold a special role in every quinceañera for this very reason — they are the living examples of what brings us together — the bonds, the relationships — that keep communities alive and thriving,” shared José.

MAF presented the Padrino Award to John A. Sobrato, Board Chair Emeritus of the Sobrato Family Foundation, for his support of immigrant families in San Mateo County, and the Madrina Award to Jenny Flores, Wells Fargo’s Head of Small Business Growth Philanthropy, for championing MAF’s work for years while challenging us to show up and do more for immigrant small business owners. Each shared stories about their special connections to MAF before being presented with an engraved-butterfly wood carving. “Viva the Mission Asset Fund!” John said.

Celebrate.

When MAF throws a party, we throw a party for everyone. That means everything — from the floral arrangements to the music — represents the people who make up MAF’s work.

La Cocina caterers Alicia’s Tamales Los Mayas, El Huarache Loco, El Pipila, Los Cilantros, Delicioso Creperie, La Luna Cupcakes, and Sweets Collection prepared the food — with a special twist. Almost every entrepreneur had worked with MAF at some point. Guests came back again and again for seconds of bite-sized “lollipop” tamales, flowers suspended in gelatin, and tostadas topped with halibut ceviche and nopales. 

Of course, one of the highlights of the evening was definitely the Grammy Award-winning band, La Santa Cecilia. Known for their hybrid style of Latin culture, rock, and pop, La Santa Cecilia turned the KQED auditorium into a dance floor. Dance partners pulled each other into the cumbia and slow dances throughout the night.  

And, at the night’s end, La Santa Cecilia band members joined clients, MAFistas, and partners on the rooftop dance floor. This turn of events wasn’t all that surprising. The quinceañera radiated with collective energy, bringing people together and encouraging them to make new connections. One MAFista shared a special moment with La Santa Cecilia, when he found out that the keyboardist hailed from the same hometown as him. 

“He went to the same pizza spot to watch soccer games and play maquinitas that I grew up with,” Efrain Segundo, MAF’s Financial Education and Engagement Manager, said. “We had a moment now, like ‘you know me, I know you.’”

Dream.

At the end of the program, José asked everyone to close their eyes and ask themselves:

“What change do you want to see in the world today that can unlock the immense human and economic potential of immigrants, people of color, and marginalized communities?”

“What change do you want to see in the world today that can liberate our dreams, unleash our hopes, and free us to be our true selves in the world?”

These were the questions that resounded throughout the night, as people poured into the party to find gold trees tied with ribbons and a dream wall. People wrote their wishes onto cards and adorned the trees with them, or drew their answers on the Dream Wall: “Support for farmworkers.” “UBI.” “Dignity + Solidarity.” 

These dreams didn’t end with the night. We’re carrying them forward in our work, and we’re doing it together. The quinceañera showed us how important it is to do so in community with one another. 

So as a community, we’ll make these dreams into reality. As a community, we’ll show up, do more, and do better for immigrants. 

View our album for more photos!