The SERV Auction Charity survey is now officially closed, and the final winner, with 41 votes (25%) is...
Kiva Microfunds! (http://www.kiva.org)
Here's the blurb on Kiva from the survey:
Kiva's mission is to connect people through lending for the sake of alleviating poverty. Kiva allows microfinance institutions around the world, called "Field Partners", to post profiles of qualified local entrepreneurs on its website. Lenders browse and choose an entrepreneur they wish to fund. Kiva aggregates loan capital from individual lenders and transfers it to the appropriate Field Partners to disburse to the entrepreneur chosen by the lender. As the entrepreneurs repay their loans, the Field Partners remit funds back to Kiva. As the loan is repaid, the Kiva lenders can withdraw their principal or re-loan it to another entrepreneur. Kiva is the first organization to use a peer-to-peer lending (P2P) model to fund micro-entrepreneurs.
What's the Plan?
So the SERV Board's plan is to use 50% of the SERV Auction proceeds and to lend all of it out to entrepreneurs on Kiva's website (www.kiva.org). This means that we will actually be getting the money back, at which time we will lend it out again... and again.. and again.. Obviously, we will need to make decisions on things like how many entrepreneurs we want to lend to, how much money we want to lend to any individual, how we will keep track of all of our loans, etc etc. Since there are clearly passionate individuals who know a lot more about Kiva than we do, we will definitely need your help!
Let us know if you would be interested in helping with making microloans through Kiva, and we'll be sure to contact you after the auction.
Thanks so much to everyone who voted! We were super excited to receive a total of 161 responses from students, faculty, staff and alumni.