Dec 20, 2015, 4:45 am
Last edit by: wilsnunn
The FlyerTalk Lending Team on Kiva:
improving lives a small loan at a time.
Kiva.org is the not-for-profit microlending organization that networks people willing to lend to small entrepreneurs in developing nations using available technology and international networking / collaboration, and how Kiva.org had become an approved FlyerTalk charity thanks to TalkBoard's approval June 29, 2008 <link> It is listed on the FlyerTalk Cares page.improving lives a small loan at a time.
"Kiva is a grassroots project started by a team with a big idea: one-to-one, real-time lending to the poor via the Internet. Currently, we take no cut of the loan you make through our site -- 100% goes to the entrepreneur. We suggest a 10% donation, in addition to your loan, to help us cover our costs. Kiva is a 501(c)(3) nonprofit and your donation is tax-deductible for US taxpayers." (Suggested donations for administrative overhead, low though that is, are not required - you may lend 100% if you so choose.)
As of 15 May 2016 it was 607 FlyerTalk lending team who have lent $2,209,175 in 37,092 loans! And now as of 30 June 2019 it is 941 members who have lent $6,415,775 in 71,722 loans!
Our motto is: "We loan because: We want to fight global poverty while earning miles."
This is tangible evidence Flyertalk Cares! There are likely other FlyerTalkers on Kiva who have not joined - if you are one of them, do so now to show your and FT's support and involvement. If you haven't lent yet, check it out - you may want to join up. For the low-income entrepreneurs on five continents who are requesting loans, microlending is significant - and it takes a lot of drops to fill the bucket. (Read on to see updates!)
Now, we can see this sophisticated network link resources from those who can lend (no interest, sorry!) with those who are needy, worthy and screened by local NGOs and have a need to start / expand their small business to enhance their and their families' survival. And, using PayPal and your FFP/FFG linked card or account, you can earn miles or points with many loans!
FlyerTalkers are lending, and fulfilling one of FT's seminal values, that of "paying it forward."
Read more about Kiva.org, who supports and enables it (Intel, Google, Paypal, Intuit and many others,) and see if you have $25.00 (or more) you can lend someone deserving in a land you have visited and enjoyed (or not.)
This is how it works:
Add your experiences here, or if you haven't joined... won't you consider joining the FlyerTalker Lending Team?
You can see who the latest FT borrowers are (some still possibly needing loans) here
For ease, you can click here: Subscribe to FlyerTalker Lending Team on Kiva.org
FlyerTalker Lending Team on Kiva.org!
Sep 29, 2018, 5:21 pm
#1321
Moderator: American AAdvantage
Original Poster
Join Date: May 2000
Location: NorCal - SMF area
Programs: AA LT Plat; HH LT Diamond, Maître-plongeur des Muccis
Posts: 62,948
Oct 1, 2018, 10:14 am
#1322
Moderator: American AAdvantage
Original Poster
Join Date: May 2000
Location: NorCal - SMF area
Programs: AA LT Plat; HH LT Diamond, Maître-plongeur des Muccis
Posts: 62,948
I think we can, I think we can... hit $5 million dollars lent by our team by the end of this year! For now 1 Oct 2018 0900 Pacific)
Impact
863 TEAM MEMBERS
$4,950,775 AMOUNT FUNDED
58,566 LOANS
67.9 LOANS PER MEMBER
Rankings Across All Teams
#9 for Amount Funded (Last Month)
Rankings In Common Interest Category
#8 for Amount Funded (All Time)
#8 for Amount Funded (This Month)
#5 for Amount Funded (Last Month)
Impact
863 TEAM MEMBERS
$4,950,775 AMOUNT FUNDED
58,566 LOANS
67.9 LOANS PER MEMBER
Rankings Across All Teams
#9 for Amount Funded (Last Month)
Rankings In Common Interest Category
#8 for Amount Funded (All Time)
#8 for Amount Funded (This Month)
#5 for Amount Funded (Last Month)
Oct 5, 2018, 11:41 am
#1324
Moderator: American AAdvantage
Original Poster
Join Date: May 2000
Location: NorCal - SMF area
Programs: AA LT Plat; HH LT Diamond, Maître-plongeur des Muccis
Posts: 62,948
Oct 14, 2018, 8:28 pm
#1325
Moderator: American AAdvantage
Original Poster
Join Date: May 2000
Location: NorCal - SMF area
Programs: AA LT Plat; HH LT Diamond, Maître-plongeur des Muccis
Posts: 62,948
And, we’ve hit it, fellow team members! What a wonderful effort.
870 team members
58,886 loans
$5,033,100 lent
870 team members
58,886 loans
$5,033,100 lent
Nov 2, 2018, 3:35 pm
#1327
Join Date: Jan 2013
Posts: 52
Wow! Such a great program! I just joined, now I have to learn more about it. Seems we are in the group, but selecting individually to whom we each loan money? What a fun and rewarding program! Thanks for sharing (and for having the link in your signature, @JDiver !
Nov 2, 2018, 4:21 pm
#1328
FlyerTalk Evangelist
Join Date: Apr 2001
Location: MEL CHC
Posts: 20,993
Wow! Such a great program! I just joined, now I have to learn more about it. Seems we are in the group, but selecting individually to whom we each loan money? What a fun and rewarding program! Thanks for sharing (and for having the link in your signature, @JDiver !
Link--->https://www.kiva.org/team/flyertalke...us=fundRaising
Nov 2, 2018, 11:32 pm
#1329
Moderator: American AAdvantage
Original Poster
Join Date: May 2000
Location: NorCal - SMF area
Programs: AA LT Plat; HH LT Diamond, Maître-plongeur des Muccis
Posts: 62,948
Wow! Such a great program! I just joined, now I have to learn more about it. Seems we are in the group, but selecting individually to whom we each loan money? What a fun and rewarding program! Thanks for sharing (and for having the link in your signature, @JDiver !
Yes, we’re a team (think “herding cats”) who lend or very individual reasons, and have a lot of fun doing it.
For me it makes much more sense than struggling to sort out requests for handouts on the streets, etc. And with over $5 million to date (mind boggling) a lot of FTers are quietly making differences in people’s lives around the world).
Jan 8, 2019, 11:08 pm
#1330
Senior Moderator and Moderator: American AAdvantage & TravelBuzz
Join Date: Nov 2007
Location: BOS
Programs: AA EXP, Marriott Titanium
Posts: 10,414
Happy new year!! :-:
Figure I’d use this as an opportunity/excuse to update the forum with our current stats:
885 team members
$5,321,425 in loans funded
62,918 loans made
Amazing work everyone! ^
Figure I’d use this as an opportunity/excuse to update the forum with our current stats:
885 team members
$5,321,425 in loans funded
62,918 loans made
Amazing work everyone! ^
Jan 23, 2019, 2:18 pm
#1332
Join Date: Aug 2008
Location: Somewhere in Florida
Posts: 2,616
It's been ~8 months or so since my last stats, so I'll update them for those thinking about getting involved with Kiva and those currently participating:
Started in Dec 2015.
Amount Lent: $12,150
Amount Defaulted: $14.90
Amount of Currency Rate Loss: $0.41
Total losses: $15.31
$15.31 / $12,150 = 0.0012600823 or 0.126%.
US inflation for the same time period was 6.22%.
So, I've made 432 loans, got the chance to help out at least that many people, and earned ~48k UR points for $15.31. Not as great of an average as before, but still one heck of a deal. I would have liked to hit Kiva a bit harder during this time period, but life gets in the way at times. Hoping to do much more this year.
Defaulted loans: 2 total.
1) $25. Total loan was $8050 in Rwanda. Debtor paid back $22.95, thus $2.05 loss. I'm not upset about this one.
2) $50. Total loan was $500, in the Philippines. Debtor paid back $37.08, thus $12.92 loss. Annoyed by this, but still they paid back 74% of the loan, so I can't be too upset.
Started in Dec 2015.
Amount Lent: $12,150
Amount Defaulted: $14.90
Amount of Currency Rate Loss: $0.41
Total losses: $15.31
$15.31 / $12,150 = 0.0012600823 or 0.126%.
US inflation for the same time period was 6.22%.
So, I've made 432 loans, got the chance to help out at least that many people, and earned ~48k UR points for $15.31. Not as great of an average as before, but still one heck of a deal. I would have liked to hit Kiva a bit harder during this time period, but life gets in the way at times. Hoping to do much more this year.
Defaulted loans: 2 total.
1) $25. Total loan was $8050 in Rwanda. Debtor paid back $22.95, thus $2.05 loss. I'm not upset about this one.
2) $50. Total loan was $500, in the Philippines. Debtor paid back $37.08, thus $12.92 loss. Annoyed by this, but still they paid back 74% of the loan, so I can't be too upset.
Mar 3, 2019, 10:14 pm
#1333
Join Date: Jan 2010
Location: Body in the CLE, soul still in New England
Programs: In 2023? Does it matter? SPG/Marriott: Plat; DL: Plat; B6: Mosaic
Posts: 2,979
Thank you for starting this. Just made my first loan to my favorite country (and home base during my PeaceCorps stint), Senegal!
EDIT: As someone who used to work in the nonprofit sector, many grants and loans given to the nonprofit have stipulations attached. Many stipulations limited the % or $ of money that can be used for operating expenses. Which can be effective in preventing boondoggles or rampant misuse of funds. However, it can also cause massive operating budget shortfalls, forcing non profits to cut back on salaries, office space, supplies, IT infrastructure, advertising, you name it. Particularly the salaries, which can be quite awful and prevent more folks from pitching in to help others. Please do think about this when you are placing the loan. One way to get a somewhat independent view of the success of the nonprofit is thru Charity Navigator, found here
Whoah. I just saw the amount of $$$ they are paying their founders. Look at page 48 of their tax returns. On one hand, I am glad they are paying industry wages for leadership. Bad news is that their COO and President are making about double their CIO and Development Officers (and we are funding these salaries). I'm on the fence about this. Two $300k comp packages seem to be pretty darn good sized compensation for a $28M corporation. Not sure how I feel about this.
Kiva - Tax Returns
EDIT: As someone who used to work in the nonprofit sector, many grants and loans given to the nonprofit have stipulations attached. Many stipulations limited the % or $ of money that can be used for operating expenses. Which can be effective in preventing boondoggles or rampant misuse of funds. However, it can also cause massive operating budget shortfalls, forcing non profits to cut back on salaries, office space, supplies, IT infrastructure, advertising, you name it. Particularly the salaries, which can be quite awful and prevent more folks from pitching in to help others. Please do think about this when you are placing the loan. One way to get a somewhat independent view of the success of the nonprofit is thru Charity Navigator, found here
Whoah. I just saw the amount of $$$ they are paying their founders. Look at page 48 of their tax returns. On one hand, I am glad they are paying industry wages for leadership. Bad news is that their COO and President are making about double their CIO and Development Officers (and we are funding these salaries). I'm on the fence about this. Two $300k comp packages seem to be pretty darn good sized compensation for a $28M corporation. Not sure how I feel about this.
Kiva - Tax Returns
Last edited by navi_jen; Mar 3, 2019 at 10:38 pm
Mar 4, 2019, 9:44 am
#1334
Moderator: American AAdvantage
Original Poster
Join Date: May 2000
Location: NorCal - SMF area
Programs: AA LT Plat; HH LT Diamond, Maître-plongeur des Muccis
Posts: 62,948
navi-jen, those are interesting points; I’ve thought about those too.
In my opinion, these high compensation packages are likely necessary in San Francisco and the Silicon Valley Area to attract and retain high quality management. (I have both a background with the nonprofit sector and connections to the extended Bay Area, and the elevated cost of living is a serious problem for area dwellers and companies. Even those who commute are finding affordable housing is much farther away these days, and commuter transportation isn’t really adequate.)
In my opinion, these high compensation packages are likely necessary in San Francisco and the Silicon Valley Area to attract and retain high quality management. (I have both a background with the nonprofit sector and connections to the extended Bay Area, and the elevated cost of living is a serious problem for area dwellers and companies. Even those who commute are finding affordable housing is much farther away these days, and commuter transportation isn’t really adequate.)
...according to the Council for Community and Economic Research, the total cost of living in San Francisco is 62.6% higher than the U.S. average—and housing is nearly three times more expensive than in other U.S. cities.
Link to SmartAsset: What is the True Cost of Living in San Francisco? By Nick Wallace AUG 20, 2018
Link to SmartAsset: What is the True Cost of Living in San Francisco? By Nick Wallace AUG 20, 2018
Mar 4, 2019, 5:38 pm
#1335
Join Date: Jan 2010
Location: Body in the CLE, soul still in New England
Programs: In 2023? Does it matter? SPG/Marriott: Plat; DL: Plat; B6: Mosaic
Posts: 2,979
navi-jen, those are interesting points; I’ve thought about those too.
In my opinion, these high compensation packages are likely necessary in San Francisco and the Silicon Valley Area to attract and retain high quality management. (I have both a background with the nonprofit sector and connections to the extended Bay Area, and the elevated cost of living is a serious problem for area dwellers and companies. Even those who commute are finding affordable housing is much farther away these days, and commuter transportation isn’t really adequate.)
In my opinion, these high compensation packages are likely necessary in San Francisco and the Silicon Valley Area to attract and retain high quality management. (I have both a background with the nonprofit sector and connections to the extended Bay Area, and the elevated cost of living is a serious problem for area dwellers and companies. Even those who commute are finding affordable housing is much farther away these days, and commuter transportation isn’t really adequate.)
And I can only imagine this issue is quadrupled in the Bay Area. But why not move to a somewhat lower cost location so that they can continue to attract talent but send more money overseas? Heck, even Chicago. Trust me, it's not an easy question to answer (and there is no right answer). IMHO, it is a bit unusual to see such disparity between top leadership and their lieutenants. But, transparency is everything. As long as everyone can access the information (which is why I posted it as some folks don't know salaries are in the returns), then I'm okay with it...Sunshine is the ultimate disinfectant.