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Author | Topic: Let's micro Loan | |||||||||||||||||||||||
obvious Child Member (Idle past 4146 days) Posts: 661 Joined: |
What's the percent that goes towards running the overall agency? Do they have a 990?
And I disagree that it is one of the best thing we can do for struggling nations, but that it is just one of many things we can do.
The End of Poverty by Jeff Sachs explains a wide number of things that can help the developing world. But the key lesson from him is that we cannot assume a one size fits all, that we must tailor aid packages and programs to each nation to fit its needs. Shock therapy and debt forgiveness will not be the cure for Africa as it was for Poland. How does it deal with nations that lack the necessary infrastructure and law frameworks? Or does it simply not even try in those areas? Because without the necessary infrastructure to allow a market to function, a micro loan is rather pointless. Edited by obvious Child, : No reason given.
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obvious Child Member (Idle past 4146 days) Posts: 661 Joined: |
quote: That isn't what I asked. I asked how much of the donation goes towards running Kiva. Non-profits for the most part require a certain percentage to operate. The rest goes towards the people and places they are trying to help. Some of these non-profits are better then others, such as Penny Arcade's Child's play which has a virtually unheard of 100%, and some non-profits largely exist to pay their CEOs.
quote: Agreed, however, it is a good reason to try other things first, particularly in Africa. As Modulous has cited, conditions may exist which would render Micro loans useless. Thus we should focus on a tailor made aid program to fix the conditions to allow micro loans to function.
quote: That's not what I'm worried about. Without things like passable roads and safe markets, the problems of a weak legal system are pretty minor. If they cannot even make the basics of their business work due to fundamental flaws in their physical infrastructure, we shouldn't, as you stated, make a loan.
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obvious Child Member (Idle past 4146 days) Posts: 661 Joined: |
quote: Do you have a tax form for that? It should be a 990. http://www.kivafriends.org/index.php/topic,562.0.html That's all I can find but there's a error message when it opens. It appears I have massively overestimated the economics, political, business and legal knowledge of people here.
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obvious Child Member (Idle past 4146 days) Posts: 661 Joined: |
well it is a specialized forum. I should have known better.
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obvious Child Member (Idle past 4146 days) Posts: 661 Joined: |
It says "data error" on mine.
Anyways I'm looking for one number, it should be allocation of funds or something like it, a percentage.
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obvious Child Member (Idle past 4146 days) Posts: 661 Joined: |
It is not my fault that you do not understand economics, geopolitics, and business. And if my points were 'bickering' you would have been able to defend your points. Yet you're abandoning them left and right.
Edited by obvious Child, : No reason given.
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obvious Child Member (Idle past 4146 days) Posts: 661 Joined: |
Hmm.
It should be under expenses if you have the full IRS 990. Actually if you can just list all of the expenses (lines 13-16) with total revenue I can figure it out. Here's a sample 990 from another charity: | Aloha United Way
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obvious Child Member (Idle past 4146 days) Posts: 661 Joined: |
what the hell...
Total Revenues of 161,545. Program Services (loans) 100,880. Zero rest. Where the hell did the rest of the money go?
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obvious Child Member (Idle past 4146 days) Posts: 661 Joined: |
Oh. That makes sense now. Do you know how long Kiva has been in existence for?
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obvious Child Member (Idle past 4146 days) Posts: 661 Joined: |
quote: And creationists say that the world is only 6,000 years old. Do we take that on face value? 501(c)s have had a long history of having problems like this. Therefore, those in the know look at their tax forms to see just how their claims of resource allocation hold up.
quote: Have you heard of the various non-profit scandals? I realize this is a specialized forum, and the legal/accounting/business understanding is fundamentally lacking, but do not attack someone who is using that in a way to understand a subject, particularly when there is a history of non-profit scandals and when there is a easy way to see if they are full of crap or actually legit. Edited by obvious Child, : No reason given.
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obvious Child Member (Idle past 4146 days) Posts: 661 Joined: |
quote: That's irrelevant. I just don't want to donate money to a 501(c) that exists largely to make its CEO, or other officers rich
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obvious Child Member (Idle past 4146 days) Posts: 661 Joined: |
Hmmm. Then it will take a couple years to see how they treat that net asset line. Call me paranoid, but I understand nonprofits as well as accounting enough to be suspicious. But that's always a problem for new non-profits. Until they have a history of honesty and good resource allocation, it's a struggle.
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obvious Child Member (Idle past 4146 days) Posts: 661 Joined: |
quote: *sigh* We are doing homework. Looking at a 990 IS homework. And just for your information, nonprofits take in donations, which are either marked for operations of the nonprofit or for the nonprofits's reason for existence, in this case loans. In this case, it appears that you make a donation to Kiva with a specific mark on the money to go to whoever you picked to get the loan. Then Kiva makes the micro-loan out of its donation fund. The money trail is relatively simple. You -> Kiva -> Kiva's donation fund -> Microloan beneficiary. What we're looking for is any shenanigans, such as the one I posted in the link where instead of the donation money going to microloans, it goes somewhere else, such as Kiva's operations funds or someone's wallet.
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