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 The Resource Foundation's SubFundsHomes of Hope Campaign UpdateCitibankers
Trade Their Suits For Rubber BootsFunder Spotlight |
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As we all know, we contribute to an organization because we identify with its mission and want to support the work it does. Too often, though, our involvement ends as soon as we send our check. The Resource Foundation understands that, increasingly, donors want their philanthropy to be more than just one act; they seek to participate in an ongoing process that allows them to be more strategic and have greater impact in addressing the critical issues of our day. The Resource Foundation's SubFunds help individuals accomplish effective and tax-efficient philanthropy. SubFunds are separate accounts managed by The Resource Foundation, which allow the donor a say in the distribution of the funds while meeting the legal requirements of a charitable deduction. Donors obtain assistance from The Resource Foundation's knowledgeable staff for the identification, due diligence and transfer of funds for development projects abroad. The Resource Foundation monitors and evaluates the progress of the funded projects and provides donors with semi-annual reports. Donors can achieve complete anonymity or high-profile visibility through the SubFunds, depending on their preference. Although other tools are available that allow donor participation, The Resource Foundation's SubFunds offer many advantages. They enable donors to leverage The Resource Foundation's 20 years of philanthropic expertise and tax-exempt status, thus increasing their contribution's impact. Donors may identify programs they wish to support; alternatively, The Resource Foundation helps donors match their area of interest - children, health care, environment, etc. - in their country of interest, either through the wide array of programs that its member organizations implement or through nonmembers. The ultimate decision of how the money is used does not have to be rushed, as is often the case when contributions are made for tax reasons, because although the donor receives the charitable deduction upon donating funds to The Resource Foundation, their ultimate use may be determined at a later date. Donor advised funds, although similar, lack the intimacy of The Resource Foundation's SubFunds and, like private foundations, often involve large administration fees. They allow the donor only to set parameters and goals for their donations without much other involvement. SubFunds, on the other hand, allow the donor to review, recommend and participate in funded programs. Thus, donors create a philanthropic process that is an integral activity in the pursuit of their life goals. The SubFund is an excellent alternative to establishing a private family foundation because it relieves the donor of the time-consuming research, administration and filing requirements of private foundations. The SubFunds can accept cash and securities such as appreciated stock. Donors enjoy internal SubFund accounting, audited yearly by an independent accounting firm. Donors who use their SubFunds as the conduit for all their charitable contributions benefit from a centralized record of their philanthropy. Subfunds tie directly into The Resource Foundation's mission to assist donors in achieving greater awareness, involvement and impact in their philanthropy. We trust that this tool will enable you to craft the level of hands-on experience you want in your charitable giving. If you think a SubFund is an appropriate vehicle for your goals, please contact us. The purpose of this article is to provide accurate information of a general nature only. Nothing contained in this article should be considered legal advice. Since individual circumstances may vary, The Resource Foundation urges you to consult your tax planning consultant and/or legal advisor to determine which charitable giving option is right for you
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The Resource Foundation's Homes of Hope Campaign objective is to help the working poor build basic but safe houses. Three of The Resource Foundation's member agencies, along with the families themselves, are building the homes in Colombia, Ecuador and El Salvador. Each of the participating countries has a critical need for low-cost housing, particularly due to natural disasters (earthquakes, mudslides, hurricanes, etc.) that occur frequently and wreak disproportionate havoc on those living in precarious conditions. The Resource Foundation's housing agencies manage low-cost programs using prefabricated |
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models and local materials to create houses that are attractive, sturdy and easy to assemble. The cost of the homes varies from country to country and ranges from $1,400 to $5,000. Even the lowest income families can afford them thanks to the organizations' Revolving Loan Funds. Buyers make a small down payment and repay the loan with reasonable interest charges. As families make payments, the funds become available for new borrowers. The Resource Foundation's housing agencies don't just help build homes. They help build community by offering services such as land title assistance, job skills training and social worker support. Contributions for the Homes of Hope Campaign help purchase construction materials and increase the Revolving Loan Funds. Campaign donors' impact continues for many years, providing homes for families today and loan funds for future homeowners. See Low-Cost Housing: Francisco and Adela M's Story about how a basic home promotes health, education and family unity. Also, see Volunteer Trips to find out how you can participate in field visits to help build homes in Latin America. If you would like to support the Homes of Hope Campaign and help needy families obtain dignified homes, please see Give a Hand Up to make a donation.
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Citibankers Trade Their Suits for Rubber Boots to Help Costa Rica’s Agro Producers |
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Recently, employee volunteers from Citibank in Costa Rica visited Adapex, a nonprofit association of mini-vegetable farmers, as part of the company’s social responsibility program. The visit was coordinated with Fundebase, one of The Resource Foundation’s Costa Rican microcredit affiliates, which helps small agricultural producers develop their businesses as a means to generate income and improve living standards. Citigroup Foundation and Citibank Costa Rica have been collaborating with Fundebase since 2000. |
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Citibank volunteers help package vegetables for export |
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Located in a farming and dairy town in the province of Cartago, Adapex receives financing and training from Fundebase. In turn, Adapex offers technical assistance, microcredit, packaging and sales services to its low-income farmers. Fundebase’s and Adapex’s support have made it possible for farmers to sell their produce not only to local supermarkets but also overseas, including the USA and Canada. Over the years Adapex’s producers have advanced from break-even to achieving profit margins of 25-30%. Observes Tarcisio Mora, Manager of Adapex, “We provide opportunities so that small farmers can compete in the global economy. This is even more important given the current negotiations for establishing a Central American Free Trade Agreement.” Under its Farmers for a Day volunteer program, Citibank´s employees worked to help pack all different types of mini-vegetables. They learned the details of farming, production and quality control practices adopted by Adapex for their export process.
Says Irene
Fariña, Public Affairs Officer from Citibank in Costa Rica, “Visiting Adapex
was a very rich experience for us, and it provided us a with a more
comprehensive vision of the challenges and opportunities that the
agricultural sector, one of the most sensitive in Costa Rica, faces. We
feel extremely proud to support Fundebase. It is encouraging to see that
microcredit can really make a difference for projects like Adapex, and that
their growth can bring progress to the community and improvement to the
lives of the association’s farmers.”
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$2,500,000 and above
$1,000,000 to $2,499,999
$500,000 to $999,999
$200,000 to $499,999
$100,000 to $199,999
$20,000 to $99,999
* Includes In-Kind |