Happy Holidays from FLiP

 
I know that some of you FLiPs have been so busy FLiP-ing that you've saved holiday shopping to the last minute.  Well, if you're looking for a good last-minute gift idea - why not the gift of giving? 

We all know, working in this field, of the great work of groups like DonorsChoose.org.  And many of you likely saw this recent article on CNN.com about ModestNeeds.org; the Modest Needs Foundation uses the power of thousands of small donations from individuals to help people overcome temporary financial challenges.  It is true peer-to-peer giving, with each donor selecting the person they seek to support - projects can be searched by area of focus (e.g. support to help someone care for a disabled child, someone facing a health crisis, etc.) or geography.  When enough funds have been collectively attributed to a project, the Foundation cuts the check.  Modest Needs vets all the applications, ensuring credibility.  So you can rest-assured that your gift in honor of a loved one, or your gift of a ModestNeeds gift card, will be put to good use. 

Happy Holidays, FLiPs.  See you in 2010!

A Business Course on Alleviating Poverty

Ed. Note: We’re pleased to have FLiP Contributor Ingrid Velmonte share perspectives on a recent microfinance course she completed.  Congrats, Ingrid, and thanks for sharing your experience with us!

By Ingrid Velmonte

On crisp Monday evenings this autumn, the NYU Microfinance Initiative and NYU Stern Social Enterprise Association hosted a course on microfinance that was simulcast via internet by the Haas School of Business at UC Berkeley. NYU was one of more than 30 campuses around the country to host the simulcast, which was open to the public. “Introduction to Microfinance” began in October and was taught by Professor Sean Foote, who is a member of Haas’ Professional Faculty, a venture capitalist in Silicon Valley, and a philanthropist involved in microfinance and education. The course offered an overview of basic theories, history and trends in the microfinance sector.

During seven classes, Mr. Foote engaged his students with lecture, discussion and readings, but the highlight of the course was the opportunity to hear directly from leaders in the microfinance sector who served as guest speakers at each class. They came from varying groups, from successful microfinance institutions around the world to technology startups targeting the industry. My personal favorite was the class featuring the president of Kiva, Premal Shah, and the founder of MicroPlace, Tracey Pettingill Turner. Sitting side by side, Premal and Tracey openly spoke about their passion for their work, facing the challenges of getting a start up off the ground, and deciding whether to go the nonprofit or for-profit route. Listening to these pioneers, one was witnessing a real-time discussion of microfinance as both an important tool for global development and as the connection between the small-business owner in a developing nation and the person donating money via their laptop.

Michael Flatley, who works in finance here in New York, explains why he attended the simulcast at NYU: “The idea that such small-sized loans can alleviate poverty is what drew me to microfinance. A small loan can make a world of difference.” Indeed the course focused on infusing regular business practices with a sense of positive social impact, and classes often explored the tension between financial and social profit. Mr. Foote emphasized that there was no right or wrong answer to this issue, and that he wanted students, the future business leaders and entrepreneurs, to establish their individual positions based on what works morally and intellectually for them, whether or not they pursue careers in this sector - sound advice for anyone working toward a compassionate goal.

Young Leaders Council's Red Carpet Soirée Turns Two

Ed. Note: FLiP Friend Jamalia Brashears, Young Leaders Council Co-chair for United Way of New York City, writes today about an exciting upcoming event. 

The United Way of New York City's Young Leaders Council is having our 2nd Annual Red Carpet Soirée on December 12th at the New York Renaissance Hotel hosted by Katherine Creag of Fox 5 News. Members of the Young Leaders Council represent over 1000 young professionals who volunteer, advocate, and fundraise to support at-risk high school students in United Way's Focus Forward program.

As co-chair of the executive committee for the Young Leaders Council, I'm thrilled to recognize philanthropist Beverly Bond at the 2nd Annual Red Carpet Soirée. Beverly Bond started her foundation, Black Girls Rock, over five years ago in an effort to mitigate the negative images of young women in the media and create a platform for programs and workshops focused on self esteem and confidence building. Her foundation is making great strides on a national level to impact change and raise the standard of how young women are represented in media.

Not unlike other nonprofits with young professional affinity groups, United Way is recognizing the need to cultivate and nurture the next wave of donors in New York City. The old guard of giving based on legacy relationships with C-suite executives of retirement age is slowly becoming a thing of the past. Having worked in foundations for the better part of my career, the new guard of donors are relatively younger and more savvy with an understanding of how to navigate the social entrepreneurial terrain. One of the more novel ways the Young Leaders Council is reaching young professionals, leveraging advocacy efforts, and encouraging the viral spread of philanthropy is through our "Give 10 Tell 10" campaign. 

With the New York City Department of Education announcing over $400 million in budget cuts for 2010, it is imperative programs such as Focus Forward exist as a safety net for at-risk students that fall through the cracks. Please join the Young Leaders Council on December 12th at the Red Carpet Soirée to raise money for future young leaders in our community. You will have the opportunity to celebrate the success of a young New York philanthropist and be part of a movement to advance the spirit of giving among young professionals in New York City. This will be a night of fun and philanthropy!