Here are some of the positive steps we have made to be the evolutionary charity we need to be, to succeed in today’s ever-changing environment:
• Raising funds from donations (sponsors), rather than loans from our supporters.
• Sponsorships are considered donations, meaning we can claim Gift Aid on eligible donations, supporting our operating costs. In the original model we had to spend a lot of time and resources to fundraise, taking our focus away from the people and communities we work with.
• Loan capital no longer returns to the UK, instead it stays in the country where the loan was originally given. Avoiding the inefficient journey back to us, before eventually being relent. The new model gives full opportunity for the donated money to be constantly re-used as soon as it’s repaid – maximising its potential for communities to benefit from the generous donations.
• Our supporters are now sponsors of community groups instead of individual entrepreneurs directly. A more streamlined approach to how the process works in the field – this helps us align with how our Field Partners operate – working with existing village saving associations. We will continue to raise funds from trusts and foundations towards programmes with our Field Partners, for example providing healthcare insurance and developing a disability network.
• We have developed a Tiered Field Partner Management process which allows us to manage partnerships with clarity and transparency throughout.