CFS Economics Club grows to 77 members as founder steps back

Carolina Friends School’s Economics Club has expanded to 77 members, or about 42% of the Upper School, after a strong run that included reaching the national semifinals of the Euro Challenge. Founder Xiyue Zhang has stepped down from day-to-day leadership as the club enters a new phase with less cash on hand and new student leaders.

Why it matters: - The Economics Club has become one of the most popular student groups at Carolina Friends School, showing how quickly a student organization can scale when it connects to competition, community and a clear identity. - The founder’s transition also signals a broader shift in priorities, from building the club to focusing on effective altruism causes such as AI safety and animal welfare. - The club now faces a practical question that matters for any growing group: how to match rising membership with limited funding and a new leadership team.

What happened: - Carolina Friends School held its annual club fair on Friday, Sept. 11, bringing more than 30 clubs to the Upper School campus in Durham, North Carolina. - The school has 185 Upper School students, and the Economics Club now counts 77 members, or about 42% of the Upper School. - Xiyue Zhang founded the Economics Club in 2024 as a freshman. - Zhang stepped down after two years of leadership and became treasurer while continuing to advise the club informally. - Ian Dolina, Class of 2027, and Lucia Bradford and James Hallquist, both Class of 2029, were selected in June to lead the club.

The details: - The club fair featured student groups ranging from the Madagascar Club to the Student of Color Affinity Group and the Random Club Club. - The Madagascar Club raises money through annual bake sales and donates the proceeds to a rural secondary school in Madagascar. - The Student of Color Affinity Group organizes around identity and community. - The Random Club Club changes its activity or focus at each meeting. - The Economics Club’s growth has been unusually fast since its founding. - Some students jokingly described the club’s snacks as “bribes,” though other clubs also offered food. - Last spring, the CFS Economics Club became the only team from North Carolina to qualify for the national semifinals of the Euro Challenge. - The team traveled to New York City for the competition, with expenses covered by Euro Challenge funding and club funds. - Zhang independently raised and managed more than $7,000 in club funds over the club’s history. - At the national competition, the team presented a proposal on climate change and the green transition in the Netherlands. - The presentation addressed the country’s strained electrical grid and agricultural nitrogen restrictions. - The team then faced judges in a question-and-answer session on the euro area economy. - The Economics Club currently has about $3,000 on hand, down from roughly $5,000 last year.

Between the lines: - The club’s popularity appears to come from more than snacks, since food alone did not explain the turnout. - Zhang’s move away from the club suggests a pivot from a highly visible campus project to causes he views as more urgent and tractable. - The broader effective altruism movement has been reshaped by the fallout from the collapse of a cryptocurrency exchange tied to one of its prominent donors. - AI has given the movement renewed momentum, as the tech industry attracts capital but advocates say capable people remain in short supply for risk-focused work. - That makes Zhang’s choice notable: he is heading toward a field with abundant money and scarce talent, while leaving a club with strong interest but tighter finances.

What’s next: - The new leadership will decide which projects to keep, which to drop and how to use the club’s budget. - More fundraising will likely be needed if the Economics Club wants to sustain its expanded ambitions. - The club’s next phase will depend on whether the new clerks can preserve momentum after Zhang’s exit.

The bottom line: - The Economics Club is now big enough to be a force across the Upper School, but its next challenge is less about recruiting members than managing growth, money and leadership after its founder steps back. - More information is available on Xiyue Zhang’s blog.