The Soul of Finance site deals with people and organizations that use finance for good. So, on this Giving Tuesday, I am making my recommendations for organizations that deserve your gifts. My criteria for these organizations:
I have visited the programs and/or worked with the leaders of all the organizations listed.
BRAC – Selected as the World’s Best NGO by NGO Advisor, BRAC developed the Ultra Poor Graduation Approach to reach families left out of their programs in health, education and microfinance. BRAC has served 2 million people with this approach in Bangladesh and has developed training programs to other organizations implement the approach. BRAC has invited research organizations to analyze the results, which show a 90% success rate.
BOMA Project – Through its Rural Entrepreneurs Action Project, BOMA applies the Ultra Poor Graduation Approach in one of the world’s most difficult environments – the arid regions of Africa. Through this program they enable women and their families to gain food security, develop sustainable livelihoods, prepare for shocks (like droughts), and educate their children.
Concern Worldwide – Concern combines the Ultra Poor Graduation Approach and Climate Smart Agriculture to programs in Rwanda, Burundi and Malawi. It has scaled these programs by involving government officials in Concern’s demonstration projects and thereby convincing the governments to implement the approach nationwide. Concern also operates programs in health and nutrition and emergency response in 51 countries of Africa, Asia and the Americas with severe levels of hunger.
Fonkoze – Fonkoze works to end the cycle of poverty in Haiti by providing financial and development services that help women lift their families out of poverty. As Haiti’s leading microfinance provider, Fonkoze became an early adopter to the Ultra Poor Graduation approach to reach those whose poverty and vulnerability left them unable to utilize microfinance loans.
Fundacion Capital – Fundacion Capital’s Founder, Yves Moury, has been selected by the Schwab Foundation as Social Entrepreneur of the Year. His organization shows great creativity in scaling solutions to extreme poverty. His team has trained governments throughout Latin America and now Africa in how to help families receiving government social payments to build assets over time. This includes teaching Social Welfare Ministries how to apply the Ultra Poor Graduation Approach.
Fundacion Paraguaya – This microfinance provider’s commitment to helping people lift themselves out of poverty is shown in its innovative Poverty Stoplight methodology. This system monitors the progress participants make along key indicators, such as nutrition, sanitation, housing and empowerment. Participants rank themselves on these indicators and then can see their results compared to others, turning a monitoring tool into a motivator for positive change. Fundacion Paraguaya is now training other nonprofits and businesses how to use this methodology.
Hope International – A Christian organization, Hope leverages the existing infrastructure of churches in developing countries, helping them form savings groups in their communities. These groups provide a safe place for people to save and a way to combine their capital to make loans for business and educational opportunities. This extensive network allows Hope to reach the extreme poor in rural areas at minimal cost. Hope also creates or partners with microfinance institutions and small enterprise lenders in countries of Africa, Asia, the Americas and Eastern Europe.
Opportunity International – Since its start in 1971, Opportunity has always focused on providing financial assistance and training that enables people to move themselves out of poverty. As a Christian organization, Opportunity seeks to follow the example of the Good Samaritan. In more recent years Opportunity has adapted its methods to work with those in extreme poverty, who now make up a majority of its clients. Opportunity also has a pilot project implementing the Ultra Poor graduation approach in partnership with the government of the Philippines. (Full disclosure: I worked with Opportunity for 23 years.)
RESULTS – Dollar for dollar one of the most effective organizations, RESULTS advocates with governments (especially those of the US, Canada, France, UK, Australia, Japan, South Africa, Tanzania, Kenya, and India) and global multilateral organizations like the UN and the World Bank to prioritize and fund programs that help to eliminate extreme poverty. Every year RESULTS helps to secure and protect hundreds of millions of dollars for effective programs and policies that provide education, health care and economic development to those in poverty in developed and developing countries. (Full disclosure: I am currently a Senior Fellow in Economic Inclusion for RESULTS.)
TrickleUp – Among those living in extreme poverty, Trickle Up focuses on the most vulnerable – women, people with disabilities, people from rural areas, indigenous populations and refugees. They train local organizations, global institutions and governments in how to apply the Graduation Approach to help these people build capabilities and assets so they are able to provide for themselves.
Uplift – Uplift knows that, to end extreme poverty, we need to start now working on the hardest cases, those living in ultra-poverty. They focus on making high leverage investments to help build a coalition of partners that apply proven solutions to this target group. This includes developing Impact Atlas, a tool for monitoring the progress of participants in Ultra Poor Graduation application in real time. Located in the San Francisco Bay area, Uplift also encourages private foundations to partner in this work.
Village Enterprise – Village Enterprise works with local partners in remote and rural areas of East Africa to implement the Ultra Poor Graduation Approach. Through this they help communities build sustainable businesses, long term assets and resilience to shocks. They have also created an innovative method for financing the scaling of their work by creating the first Development Impact Bond in sub Saharan Africa. This is a pay-for-performance bond that provides Village Enterprise with more funding if independent verifiers find they have met clearly defined measures for success.