Moody's and Kiva: "The Double Bottom Line"
While it's a thrill for me to help engage companies in strategic philanthropy, corporate social responsibility (CSR), skilled volunteering, and other forms of giving and service, I've always believed that corporate initiatives are only sustainable if there's a solid business case to be made. So after my initial excitement about a terrific new corporate-nonprofit partnership, my next question is: "How did you sell it to the board?"
At last week's CGI, I was delighted to meet with Premal Shah, President and CEO of Kiva, the world's first person-to-person micro-lending website, established in 2005. Kiva helps alleviate poverty by raising $1 million a week in small loans (many are $25) to invest in micro-businesses in Asia, Africa, South America, and Eastern Europe. Shah explained that corporate partnerships are essential to Kiva's success.
Shah described Kiva's new partnership with Moody's that was announced on stage at CGI. Moody's will do three things:
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