The administrative costs, particularly for the CEO, have become excessive. I'd been giving for the last two years, but will refrain from giving more until they get these costs under control. Check the 2014 990 form and you will see excessive executive salaries across the board.
FINCA is more than poverty eradication because it help many people include my family to have independent lives and in deed FINCA help Micro,Small, and medium enterprises(MSME) in my community,
Through FINCA my government and non- government help to exploit opportunity in my country.
Thank God for create people who have good idea of start FINCA. GOD BLESS FINCA,GOD BLESS TANZANIA
I have nothing to offer to FINCA but GOD BLESS YOU ALL
A few years ago my husband and I had the privilege of being escorted by a staff member of FINCA International to three micro-lending community groups when we were in Otavalo, Ecuador. We attended two different meetings and talked with group members about their projects and their participation in the FINCA micro-lending group. We also visited several of the projects: a sewing collective, a chicken project and a pig raising project. The pride and energy of the participants was palpable. The success of these - mostly women -entrepreneurs and the influence they gained both within their families and in their communities addressed important social issues of gender equality as well as economic issues.
My husband and I returned home to the US feeling proud to be supporters of FINCA and motivated to continue our support.
FINCA is about changing lives, building hopes for a brighter and better future. FINCA loans has touched the lives of many Afghan families, it has enabled Afghan entrepreneurs to create job for them and their surroundings.
FINCA loan has brought hopes to the families and children of some of those families to go to school now and see the future colorful.
When so much government aid can go astray it's great to know that money (from FINCA) is getting into the hands of the people who can really use it to transform their societies one small step at a time.
Loaning ambitious people money to build their own roads out of poverty makes sense to me. I like to hear about women being able to see their creativity and drive benefit their families. That's what we like to do. I think FINCA does a good job of getting money to the right people.
A number of years ago I did extensive research on the impact various approaches have to cyclical poverty and global population growth, both of which I consider to be root cause factors in many of our challenges. Empowering small primarily women based businesses in a disciplined approach to business is perhaps the single most efective way of impacting things. FINCA's structure makes it very difficult to compare to other microlenders. While FINCA was once in a class all by itself, I cannot fault those who choose Accion instead. I still prefer FINCA because their approach not only fuels individual entrepreneurs, it also sets up what are in effect micro business management schools in the form of its local micro banks. Also, for those that are troubled by FINCA's overhead expense numbers, these are distorted much in the same way Accion's are. Both organization have umbrella organizations, and then local arms that are structured as separate entities. So for both, the overhead percentage of the umbrealla is grossly distorted upward. If you look at them on a consolidated basis, both are running around 95% +/- 1% of their funds going to their charitable purpose. IRS form 990 does not reflect this. So FINCA will continue to get my very strong support. I only wish I could give them more.
I have read the reviews and I too do not want to donate to a charity where the CEO and board members receive way too high compensation.
93% of donations goes directly to clients, providing micro-loans, primarily to women. Plenty has been written recently about unscrupulous microfinance organizations who tempt people to overextend themselves and then squeeze them dry. FINCA's rate for in-arrears more than 30 days is a very conservative less than 1.5%, of which less than 1% is eventually written off. In addition to the individual loans, FINCA's model is to build village banking organizations wherever they lend, with more and more of the lending done by locals over time.
Like others on this review, I agree that the administrative costs, particularly for the director, have become excessive. I'd been giving for the last three years, but will refrain from giving more until they get these costs under control. Also, why pay board members?
Review from CharityNavigator