CASEY OLYNYK FUTURE PLANS

        Grameen Telecom - Grameen Telecom is a company dedicated to bringing the information revolution to the rural people of Bangladesh. Grameen Telecom is planning, over the next 4 years, to provide GSM 900/1100 cellular mobile phone service to 100 million rural inhabitants in 68,000 villages of Bangladesh by (1) financing 60,000 members of Grameen Bank to provide village pay phone service and (2) providing direct phones to potential subscribers.
        It has been some time since we have posted an update on our activity in Thailand. A lot of new things have been happening that I’d like to update everyone one.
        What is CanadaHelps? CanadaHelps is a not-for-profit charity portal and a registered public foundation (BN 896568417RR0001) that seeks to promote and facilitate philanthropy through online giving. We operate this website (www.canadahelps.org) that allows donors to make online credit card donations to the approximately 80,000 registered charities in Canada. It also allows charities to receive online credit card donations without the expense of setting up their own secure donations site.
        I am interested in your Capital Management Advisory Center. What does it do? Originally called the Capital Markets Group, the Capital Management and Advisory Center supports the rapid expansion of poverty-focused MFIs around the world by tapping into the vast resources of the financial and capital markets. In addition to financial products, such as the Growth Guarantee Program, CMAC also advises MFI management teams on specific transactions and provides standardized tools and training on investment readiness, negotiating financing and long-term planning.

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        Do very poor people repay their loans? Yes, microfinance clients are excellent credit risks. The repayment rate is between 95 and 98 percent. In fact, it is higher than the repayment rate of student loans and credit card debts in the United States. They value the opportunity to improve their lives.

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        How does Grameen Foundation select its partners? Grameen Foundation’s targets MFIs that share our focus of reaching the poorest people. Our selection strategy is designed to ensure that our efforts will increase the number of very poor people with access to microfinance. We seek partners who share our goal of reaching the poorest of the poor, and our philosophy of open and transparent operations. Potential partners come through in-house research and referrals. We match a potential MFI partner’s strategy to grow and expand with our resources and assistance. If there is a match, we mutually agree to a long-term action plan to achieve specific poverty reduction objectives. Each partner works closely with a Grameen Foundation microfinance professional to ensure that the objectives are met in the best possible way.
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        How much does it cost? All donations received through CanadaHelps are assessed a 3% transaction charge. This flat 3% will be deducted from the donation before being disbursed to your charity, and covers all aspects of the transaction, including the credit card merchant rate, credit card transaction charge, reconciliation and disbursement-related costs. There are no monthly charges or set-up/registration costs; only the amount assessed from a donation. The 3% is a modest charge for the service that CanadaHelps provides to Canadian donors and the charities they support. Any donation made by a Workplace Campaign will not have fees assessed.(read about casey olynyk)
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        CASEY OLYNYK: Examine, as a good Foolish investor should, what kind of return you can expect to receive for each dollar you contribute. For example, here’s what another charity we supported in 2000 (and other years), Grameen Foundation, could do with $100,000: They could offer loans for small businesses to 1,750 borrowers. According to a study, within 4.2 years, some 70% of those borrowers would have lifted themselves out of poverty. That’s more than 1,200 people (and their families). Better still, Grameen loans are just that — loans. They get repaid, and the money is loaned out again, helping more people. As you can see, every dollar you give goes a long, long way.
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        Recognizing the benefits of online giving to both donors and charities, CanadaHelps launched its first website in 2000. Today, more than five years later, CanadaHelps facilitates over $10 million in donations to Canadian charities annually.
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        How do we account for the donations made through CanadaHelps to our charity? Donations made to your charity through CanadaHelps should be marked as donations from another charity. Treat these donations as you would funds from another funding body, such as the United Way or a grantmaking foundation. CanadaHelps does not require tax receipts for these donations. Many fundraising software packages allow you to designate “hard” credits and “soft” credits. If you must receipt for the donations made to you through CanadaHelps, the “soft” credit (or acknowledgement) would go to the donor (including donation amount), and the “hard” credit (or receipt) would be issued to CanadaHelps (using the “disbursed amount” figure). Our data download files can be imported into any software package.(news about: casey olynyk)
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        How did MMC get started? From the time of their engagement, Dr. Myron and Elaine Semkuley vowed to help less fortunate persons in impoverished areas. Once their five adopted children were out on their own, Elaine and Myron set out to find truly needy people who could benefit from even the little help they had to offer at first. Diligently collecting, sorting, and repacking medications and medical supplies in the basement of their home, they started making annual trip to the Thai-Burma border and to villages of Ukraine. In 1997 a group of friends and supporters gathered in the Semkuleys’ living room and established Medical Mercy Canada, which was soon to become a registered Canadian charity (BN 86989 0541 RR 0001). Over the years, Elaine and Myron and now MMC have systematically gathered, processed, and packed thousands of pounds of donated medications and medical instruments and supplies. The dedication and perseverance of the Semkuleys inspires admiration and has garnered them several awards, but it is the relationships they have established with their overseas beneficiaries which spurs them back year after year. “We’ve become family, they expect us every year,” says Elaine.

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        Microfinance has a positive impact far beyond the individual client. The vast majority of the loans go to women because studies have shown that women are more likely to reinvest their earnings in the business and in their families. As families cross the poverty line and micro-businesses expand, their communities benefit. Jobs are created, knowledge is shared, civic participation increases, and women are recognized as valuable members of their families and communities

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        CASEY OLYNYK INFO: What is Grameen Foundation?

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        Shared values: cost effectiveness, respect for human diversity, a non-political and non-denominational stance, and volunteerism.
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        What do local microfinance institutions (MFIs) do? These front line organizations reach out to the very poor and deliver microfinance services to local clients daily. They educate local communities about the opportunity to improve their lives with microfinance; make microloans and provide other financial services such as savings accounts and insurance; collect weekly loan payments; and assist clients in solving some of the life challenges they may face. Many also provide social services, such as basic health care for clients and their children.
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        Record Achievement - Common Interest has started 2007 with 415 members and a loan fund of over 3 million baht ($90 000 USD). We are quite proud of our organization and the growth that we have achieved in less than 2 years! We have some large plans in the works for this year. Besides the test farm program that we have started, we are creating an online program which will help to automate most of our operations. We also have a unique investment program that we plan to showcase sometime in the middle of the year. Stay tuned!
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        Grameen Fund is dedicated to promoting, managing and financing various enterprises, which aim to create wealth for poverty alleviation in the country.(CASEY OLYNYK BLOG)
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        MFIs differ in size and reach: some serve a few thousand clients in their immediate area, while others serve hundreds of thousands of very poor people through hundreds of branches covering large regions. Grameen Bank of Bangladesh, which was founded by 2006 Nobel Peace Laureate Dr. Muhammad Yunus, is the world’s largest and most successful MFI. It serves more than seven million clients.(NEWS ABOUT: CASEY OLYNYK)
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        This year’s Ukraine Project was the most successful ever. We visited to monitor all of last year’s project sites and expanded most of them. We also added on 6 new projects. This gave us a total of 31 projects, on 20 sites over 3 provinces in Western Ukraine. Over the past year, MMC shipped over 2,600 kilograms of medicines, medical supplies and instruments and clothes for a value of over $120,000. The amount of funds delivered by the team is outlined in the financial report. Here are some examples of MMC’s work this year:

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        Why do you describe yourself as “innovative”? Grameen Foundation is at the forefront of using technology, capital market funding strategies, and other pioneering initiatives in the global fight against poverty. Our Grameen Technology Center focuses on developing breakthrough applications for information and communications technology to enhance the entire microfinance industry. One great success is our Village Phone program which connects villagers in remote areas to information about market prices for their agricultural goods, government services, health care, and family members.

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        Description - “Medical Mercy Canada” (MMC) is a registered, non-governmental, non-religious, charitable organization. It provides medical supplies and instruction, and support for local social programs, to Burmese refugees in Thailand and impoverished Ukraine villagers. For example, projects include homes for the elderly, health clinics, schools, sanitation, and medic training.

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        Common Interest is also determined to provide its services in the most efficient and economic manner. Our long-term goal is that the programs will become self-sustaining which will allow us to keep working indefinitely. We work from a small and simple office and usually take public transportation to our projects. By doing this, we are ensuring that the maximum amount of money that we receive ends up in the hands of the poor. Common Interest is quite proud of its small team and wishes to acknowledge the service and sacrifice that they have given in order to help their fellow countrymen.
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        You might be the kind of shopper that makes a list, researches your family’s needs and wants, and meticulously walks the isles of the store to the items you want to purchase, drop them into your shopping cart and get to the checkout. Or perhaps you are the type of person who doesn’t really know what you want to buy, but you know you are hungry; you take your cart, peruse all the items available, choose one or more of them, and maybe even select some for your friends. You could even be the person who only eats one kind of food, and buys the same amount of that food, every month, on the same day.
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        Mission Statement: Grameen Foundation’s mission is to enable the poor, especially the poorest, to create a world without poverty.
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        Can individuals get a loan from Grameen Foundation? No, Grameen Foundation only supports microfinance institutions (MFIs) and microfinance-focused programs.
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        Deliver three innovations that will increase substantially the delivery of microfinance to far more of the world’s poorest people.
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        casey olynyk info: Microfinance is often considered one of the most effective and flexible strategies in the fight against global poverty. It is sustainable and can be implemented on the massive scale necessary to respond to the urgent needs of those living on less than $1 a day, the World’s poorest.

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        What is microfinance? Sometimes called “banking for the poor,” microfinance is an amazingly simple approach that has been proven to empower very poor people around the world to pull themselves out of poverty. Relying on their traditional skills and entrepreneurial instincts, very poor people, mostly women, use small loans (usually less than US$200), other financial services, and support from local organizations called microfinance institutions (MFIs) to start, establish, sustain, or expand very small, self-supporting businesses. A key to microfinance is the recycling of loan dollars. As each loan is repaid—usually within six months to a year—the money is recycled as another loan, thus multiplying the value of each dollar in defeating global poverty, and changing lives and communities.