"[4] The program is designed to build a work-ready future workforce by emphasizing STEM-related industry-specific curricula in the classroom and work-based learning experience, including summer internships.
[6] Numerous studies of the NAF model have concluded that "sustained, quality employer involvement in education is possible,"[1] and that their programming helps provide equitable opportunities for minority students[7] in "low-socioeconomic and high-risk backgrounds.
[8] Teachers meet often to coordinate the curriculum, take care of administrative details and are involved outside the classroom with local businesses and sponsors "to make learning relevant with real-world career support to build strong connections between school and work.
In 1987, NAF's launched a Hospitality and Tourism theme with the opening of two pilot Academies, one in Miami, Florida and another in Richmond Hill, New York, with support from the American Express Foundation.
It offers high school students an opportunity to study accounting, international trade, leadership, and the use of technology in preparing for college and the financial services industry.
Frankfort designed and implemented the program and the first Academy of Finance opened at John Dewey High School in Brooklyn in 1982 with 35 students and grew to more than two hundred in 1984.
[18] The program, which subsequently grew to be nationwide,[17] was designed to introduce young people in New York City to potential careers in the financial services industry.