I talked about Kiva and ACCION back in November. They are both microfinance non-profits. They help the world's poorer folks with microloans they cannot find any place else and at reasonable rates. Check out the November post for more info.
ACCION is a major organization which accepts donations and takes care of the microfinance details on its own. Kiva, a smaller organization, has brought a novel approach to microfinance thanks to the internet. Kiva matches lenders and borrowers. You can visit the website and view several entries of borrowers explaining what they need the money for, what type of business they run, a little about their background, and other wonderful information. Lenders also have similar style entries, if they want (one can always remain anonymous). In any case, lenders (you, me, anyone with $25 bucks) can visit the website and decide which borrower they want to lend to. And technically this isn't charity because the money will be paid back, though with no interest. The lender can then lend the money to another borrower or cash out.
I am lucky to say that I have now learned about DonorsChoose. DonorsChoose is very similar to Kiva accept the it is a charity organization instead of dealing with microfinance. And DonorsChoose specifically helps public school teachers. The gist is the same, teachers post about their need for a digital camcorder or a rug and donors visit the website and decide which teacher/school they will donate too. This is not a loan, so it will not be paid back. For more info on this wonderful charity, check out this great Slate piece on it.
And finally, I'd like to drop a note on Charity Navigator. If you're ever wondering how well your favorite charity is organized, efficient, helpful, etc then check out the Charity Navigator website where they have in depth ratings and information on many, many charities.
And if you're wondering, both ACCION and DonorsChoose have the top rating. Kiva is not listed, perhaps it is too small or too new.
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3 comments:
It's always smart to understand how the charities you donate to raise and spend their funds. While most not-for-profit organizations are transparent in their methodology and effots, too often people's money doesn't get where it needs to.
The charities you highlighted seem like they do excellent work, V.
Great links, V. Thanks! Charity Navigator is a brilliant idea. And I will definitely look into DonorsChoose, more, too.
thanks for reminding me to check out these microfinance groups - and it is always important to know the groups you give money to
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