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Advancing Compassion Project Launches ProPhilanthropy Fund
Novel microfinance fund combines recurring social investment in projects promoting community development with immediate tax deductibility for contributors.
In much of the world, including developing countries as well as communities within the United States, development and sustainability are impaired by lack of access to financial systems, including small loans that can be used to help start or build a business, or allow someone to complete his or her educational or vocational training. Short-term assistance to selected projects can help to proactively and efficiently advance individuals, their families and collective groups in a sustainable manner – by enabling them to help themselves. Success not only benefits those involved but also serves as a model for others seeking a means to improve their lives and prospects under similar conditions.
The ProPhilanthropy Fund operates in partnership with microfinance organizations in developing countries as well as in underserved communities within the U.S. to provide capital in the form of loans or loan guarantees for selected projects promoting individual and community development. Placements through programs such as UK-based LendWithCare (an initiative of CARE® International)
Unlike online microcredit placed through organizations such as Kiva®, Zidisha and others, all contributions to ACP’s ProPhilanthropy Fund will be 100% tax-deductible as donations to a 501(c)(3) public benefit charitable organization. Under current terms of the fund, contributions will be reinvested on a recurring basis until at least December 31, 2017, following which funds may be made available in the form of grants to enable a new generation of projects to receive microfinance funding and/or otherwise promote sustainable impact.
Advancing Compassion Project donors are currently providing 100% matching of contributions to the ProPhilanthropy Fund made under terms as provided on the Fund’s website. Given the recurring basis of the investments, each contribution would be leveraged multiple fold. Illustrating the power and long-term impact of this social investment model, a single $200 contribution can thus provide all of the following:
(1) An immediate tax-deductible donation for the amount of the original contribution, i.e. $200;
(2) A source of $2,000 in loans helping individuals start or build a business or complete their educational or vocational training (based on a 100% match and recurring investment over 5 annual loans); and
(3) An eventual grant of $400 to an organization or group helping the underserved (enabling additional individuals and groups to secure funding and/or otherwise promote sustainable impact).
Additional information and ways to join the ProPhilanthropy Fund, including current matching contributions available, can be found on the Fund’s website: http://www.prophilanthropy.org/
About ProPhilanthropy Fund
Advancing Compassion Project’s ProPhilanthropy Fund provides financial support for selected projects that are proactively and efficiently promoting individual and community development. Using a recurring investment model, contributions to the fund provide a combination of immediate tax deductibility for donors and long-term sustainable impact for beneficiaries and their families and communities. The ProPhilanthropy Fund is operated in partnership with microfinance organizations operating both in developing countries and in underserved communities within the United States, to help provide a source of capital to support target projects and individual recipients with an appropriate business plan demonstrating sustainable development.
Under current terms of the fund, contributions will be invested and reinvested on a recurring basis until at least December 31, 2017, following which funds may be made available in the form of grants to enable a new generation of projects to receive microfinance funding and/or otherwise achieve sustainable impact. Unlike typical microcredit organizations, all contributions to the Fund are 100% tax-deductible as donations to a 501(c)(3) public benefit charitable organization. Additional information on contributions and the Fund can be found at http://www.prophilanthropy.org. Details regarding funded projects will be provided on an ongoing basis to donors, and selected projects will be featured on the Fund's website and on Facebook at ProPhilanthropy.
About Advancing Compassion Project
Advancing Compassion Project (ACP) is a California-based nonprofit fostering innovation within community-based charitable organizations. ACP’s ProPhilanthropy initiative raises awareness and support for projects addressing human, societal or environmental issues, and helps donors make contributions having more strategic and lasting value. Volunteers Changing Lives is an affiliated communitarian service program connecting ACP volunteers to targeted projects and other activities creating a positive impact within local communities. More information about ACP and its philanthropic and communitarian efforts can be found at http://www.AdvancingCompassion.org, on Facebook at AdvancingCompassion, and on Twitter @HelpLoveGrow.
President & CEO, Advancing Compassion Project
Tel. (858) 848-1002 | Email: info@AdvancingCompassion.org
Advancing Compassion®, ProPhilanthropy™
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