Source: Inside Philanthropy
The Family Independence Initiative (FII) has come up with an important way to help impoverished families overcome financial hardships.
The organization FII, which refers to itself as a “learning organization” more than a program or services, identifies families in need and simply invests approximately $2,400 in each family and lets them decide how to spend the funds.
“The idea is that families and communities know best what they need to climb out of poverty,” reports Inside Philanthropy.
What the organization really is achieving is “co-creating an environment where [FII] is putting power back into the hands of these families,” says FII CEO Jesus Gerena.
In return, the families will simply report back to FII letting them know how the funds were spent, and FII collects data on the impact of the funds on the different families over time.
The data indicates that families grown their annual income by approximately 2.4 times the initial investment (approximately $5,856 per year).
Read Full Story: Inside Philanthropy