Making a bequest in your will to Kiva?

[Guest]

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[RM]

I assume you can make a bequest in your will to Kiva? Has there been any discussion or promotion of this idea?  Also, is there a way to bequest money to Kiva that would be an ongoing source of funds to Kiva Entrepreneurs? Thank you.

[tomviolence]

As a donation or source of loan funding ?

Donation would be straight forward. Donations to a 501(c) blah blah blah are very normal.

As a source of loan funding would require continous re-implimentation of paid back loans, otherwise paid off loans would then revert to some limbo. If it were a substansial amount, you could create a trust, pay someone to oversee the trust, and fund loans according to your wishes. For instance, only loans for rooster breeding in the Philippines  .... just kidding 

Kiva might be able to handle your wishes, try the contactus email.

Realisticly, you would want to balance a donation and loaning such that it is sustainable. Since interest free loans are inevenitably going to lose money (defaults ..) and if you make a %10 percent donation out of each loan,  in ten years you would have no money left to loan. Perhaps that is ok - you might want to envision what you want to accomplish .....

[wthepoo]

Kiva is planning to introduce a "matching feature" that might work for you - as long as no heir or tax-authority tries to claim the funds.

It can be set to a more or less revolving loan fund (deducting at least 10% donation every round) - starting right away or after one year of inactivity.

More: http://www.slideshare.net/kivamicrofunds/matching-presentation-con-call-april-2009

I don't know when matching will become an option. You might inquire with contactus@kiva.org

Best wishes,
Wolfgang.

[saabnet]

I assume you can make a bequest in your will to Kiva? Has there been any discussion or promotion of this idea?  Also, is there a way to bequest money to Kiva that would be an ongoing source of funds to Kiva Entrepreneurs? Thank you.

Poverty2Prosperity offers this in its Perpetual Fund. P2P has a non-withdrawable account with Kiva for perpetual loaning. The disclaimer here is that I created P2P and our 501(c)(3) application has been submitted but not yet approved (generally takes six months after the final application).

http://Poverty2Prosperity.org

I hope this is helpful,

-Scott

[saabnet]

Pour 501(c)(3) application has been submitted but not yet approved (generally takes six months after the final application).

http://Poverty2Prosperity.org

Good news for P2P. I got a letter from the IRS today asking for two more small pieces of information due by the 29th and then it's just 4-6 weeks for a final determination (fingers crossed - but all is going smoothly so far).

-Scott

[RM]

Thanks to everyone for your helpful responses.

[saabnet]

our 501(c)(3) application has been submitted but not yet approved (generally takes six months after the final application).

Great news. Poverty2Prosperity.org received its 501(c)(3) tax exemption letter from the IRS today, woo hoo! 

-Scott