Hope Center Gulu was founded with the goal of self-sustainability in mind. With your help, we can be completely self-sustaining by the end of 2024. Our microfinance loan program gives loans to women, trains them on how to grow their business, and allows them to repay the loans with a small monthly interest rate. This interest compounds, allowing us to reach more women with more loans. Once the compounding monthly interest exceeds our monthly operating costs, we'll be completely self-sustaining.
Too many small organizations never become self sustaining. Ella and Jamie have been responsible for fundraising $19,200 a year for the past 8 years - and have self-funded the majority of it. This is not sustainable for them as volunteers, nor for the organization itself. We needed to design a way that the organization can sustain itself with its own programs.
$12,000 will be directly inputted into the loan program and will be distributed during the first quarter of 2024. This will combine with the already $8,500 in the loan program, and will compound in interest throughout the year til it reaches $32,000 in December 2024. At this point, the monthly compounding interest will exceed our monthly operating costs ($1600) and the organization will be officially self sustaining. The other $19,200 will cover our typical operating costs for these 12 months.
Finally, the Hope Center will be 100% self-sustaining. We will even be profitable - we will be raising our own funds to improve our own projects, and evolve to help even more people in the community in new and improved ways. Yes - that means this could be our LAST fundraiser ever. This is a huge milestone for the organization! (and means Ella and Jamie can resume normal life without the responsibility of funding a $20,000/year project!)
This project has provided additional documentation in a PDF file (projdoc.pdf).
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