Milepoint | Kiva Lending Team Mutual Fund

Discussion in 'Kiva | Loans That Change Lives' started by Randy Petersen, Mar 2, 2012.  |  Print Topic

  1. Randy Petersen
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    Randy Petersen Founder

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    milepoint_mutal_fund_logo_342x60.png
    ONE of the things that drives the Milepoint | Kiva Lending Team is our desire to continue making a lasting impact. We see a lot of good things happening all the time and want to see this continue.

    SO what does a lending team for Kiva.org have to do with a Mutual Fund? It turns out, a whole lot.

    WHEN the Milepoint | Kiva Lending Team began its effort to sponsor a Kiva Fellow, we also learned it was time for some new ideas. Hundreds of members later we've learned a key issue — that mutually we have a lot to give. The Mutual Fund will give members a new way to loan as a team and a new way to support efforts such as the Kiva Fellow program. Funds for the Mutual Fund will come from selling limited edition t-shirts to team members, general fundraising for the Kiva Fellow sponsorship and various other fundraising initiatives such as during the 2012 KivaDo. The Mutual Fund's main purpose is acting as a non-withdrawal collection of funds donated by the Milepoint | Kiva Ledning Team. All money donated will continue to support loans on Kiva.org. An additional purpose is to fund an annual sponsorship of the Kiva Fellow program. Both these purpose's will benefit by the funds donated into the team MutualFund.

    The Mutual Fund has three components — perpetual reloaning, sponsorships for the Kiva Fellow program and the awareness that direct donations to Kiva.org may be tax deductible and will assist the program in their own needs. Here's an explanation of each:
    Reloaning funds:
    Funds donated here will go into a non-withdrawable Kiva Lending Team Mutual Fund account to be perpetually loaned on the following basis using Kiva's auto-lending feature when needed — loans about to expire, 4+ star rating of the MFI partner and shortest repayment terms. The Mutual Fund is an actual member of the Kiva Lending Team so all members can observe the loans they have made and the value of its reloaning. Here's the new member.

    Kiva Fellow:
    Funds donated here go into an account to sponsor an annual Kiva Fellow and put their skills to work in support of global microfinance. We sponsored a Kiva Fellow in early 2012. That story and our efforts are here.

    Kiva Direct:
    Funds donated here go directly to the Kiva organization and may be tax-deductible per the status of Kiva as a U.S. 501(c)3 non-profit organization.

    The Reloaning process works as follows:
    1. You DONATE to the Milepoint | Mutual Fund/Reloaning Fund
    2. We make a loan on behalf of the team
    3. We get repaid
    4. We repeat
     
  2. kiwi
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    kiwi Gold Member

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    Awesome
     
  3. kiwi
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    kiwi Gold Member

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    Is there an email addy we can send Kiva gift cards to the mutual fund?
     
  4. CharlesG

    CharlesG Gold Member

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    Perfectly stated. I've given to all three components, and hope many others do as well!
     
  5. Randy Petersen
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    Randy Petersen Founder

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    YES: kiva [at] milepoint.com
     
  6. sobore
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    sobore Gold Member

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    Just put a few $$ in! :)
     
  7. Stephen
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    Stephen Gold Member

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    We can give greenbacks/CC/combo of, to this fund at the DO right? I think my charity winning bids all have to go here :)

    just a point of note, on the Mutual fun(d) page, it has a very light font that is almost unreadable on my normal text display, I had to zoom way in for properly readable fonts.
     
  8. Randy Petersen
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    Randy Petersen Founder

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    Affirmative. The Raffle Committee has been arguing over who gets to swipe credit cards ... I'm still not sure who gets that exalted honor! They have promised to wipe swipe everyone out.
     
  9. iolaire
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    iolaire Gold Member

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    Just to be clear, is it one fund that spends its money three ways? Or will there be three unique contribution mechanisms?

    If it is one fund will how will that affect the tax exempt status of any donations/contributions?

    Finally will the kiva fellow program be structured as a non profit endeavor to enhance the value of contributions?
     
  10. rehoult
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    rehoult Gold Member

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    We're going to have a tequila drinking competition. Whoever's awake the next day can swipe.
     
  11. rehoult
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    rehoult Gold Member

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    There are 3 ways to contribute.
     
  12. Randy Petersen
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    Randy Petersen Founder

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    Three different ways and we'll make that more clear on the front page. It is explained in better detail on the content within the Donate button. The Kiva Direct donations go directly to Kiva in the amount you donate. Milepoint takes no status on any of that money and you are free to claim whole amount tax deduction per your donation. The Kiva Fellow program will likely never be non-profit since we are sponsoring an individual to help them with costs associated with being a Fellow. Each Fellow has to raise their own living expenses while on assignment and we want to assist them with that. For the current Fellow we are helping sponsor, we raised $3,500 for Devon. What Milepoint does is to make whole to the Fellow the donated amount so that no credit card fees are subtracted. Devon received $3,500, rather than $3,500 less about 3% of credit card fees. Milepoint made good on those fees. I know of no way that Kiva.org can or will make the Kiva Fellow donations non-profit for the individual taking the volunteer assignment.

    Appreciate the interest and the questions.
     
  13. Stephen
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    Stephen Gold Member

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    Now that this is set, I am highly interested in the NFL tickets promo by one of the generous members here, actually I am not so much into it but a friend is, and he's willing to join and get involved due to this, which would be quite nice :)
     
    MSPeconomist, milchap, Toula and 5 others like this.
  14. kiwi
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    kiwi Gold Member

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    Thanks. You should have received the first of hopefully many Kiva GCs to start the lending.
     
  15. kellio
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    kellio Gold Member

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    I won the argument. After all , I have the experience ;-)
     
  16. Stephen
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    Stephen Gold Member

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    :eek:umm I should lock my CC in the vault(at my bank, in TX), is that what you are saying?
     
  17. jbcarioca
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    jbcarioca Gold Member

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    I have said it before and will say it again. This is the coolest thing yet, but I have confidence we'll get even better things coming, although I have no clue how that can be.

    Beth Kuenstler, Kiva VP, said after she saw the MP KLT Mutual Fund. "That is amazing! You are the most incredible lending team! You keep doing more and more wonderful things. How inspiring!...". She went on and on for a few minutes. It is very nice to know how much Kiva appreciates us also.

    What a very happy Saturday morning this is!
     
  18. canucklehead
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    canucklehead Gold Member

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    You can let me hold onto your credit cards. Honest, I won't swipe it (too much!) :D
     
  19. Toula
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    Toula Gold Member

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    Is it just me having an issue with the donate button? When I click on donate now I get a blank page. I guess it's saving me some money at least.
     
  20. scarecrow

    scarecrow Silver Member

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    Me too - just a blank page. Tried with both Firefox and Chrome.
     
  21. brockb

    brockb Silver Member

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    Still seems to be broken, I tried with all three browsers. Just a blank page.....
     
  22. Stephen
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    Stephen Gold Member

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    Hold on, let me go buy a couple international first tickets first, at least you won't have the ability to spend much more :)
     
  23. nime01
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    nime01 Gold Member

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    I love this!!

    Now, if I could only get the donation thing working :D
     
  24. brockb

    brockb Silver Member

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    Working again, put the last of my paypal balance into the fund!
     
  25. Stephen
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    Stephen Gold Member

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    Well what do you know, someone else decided to swipe my card out in Ireland and I got an alert and its been put on hold :(

    Great! and I just got the new one last month.
     

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