Kiva - helping others via micro-credit

[handyandy]

Actually it is tax deductable in USA. You are lending but you must GIVE the money. YOU don't get it back. It goes back into your account to lend again. So if in America the initial "loan" is tax deductable.

I love this charity. You get to give over and over. And I like the idea that it helps people help themselves (the teaching to fish analogy and all that).

As per Prep's post only the contribution to Kiva's operations is tax deductable (and only for US residents) the loan itself is not tax deductable even in the USA.

In fact you can withdraw your loan money (Kiva credit) at the end of the loan process. It is obviously for this reason that the actual loan amount is not tax deductable.

Another fact is that the borrower pays an interest charge on the money borrowed. This interest charge is collected by their field partners (local coops etc) and funds the field partners operational costs. The interest charge does not get charged by Kiva nor does Kive receive any of the interest charged.

For me I see the Kiva process as helping / teaching the beneficiaries to fish rather than funding an handout and making people dependent on charity.

Cheers

 

[wylie]

Donations to the Catholic church in australia are tax deductible. They are a registered charitable organisation.

I would guess any donations where you are issued a "receipt" may be deductible. Do you ask for a receipt in church?

Seriously now...

 

[Fifth]

china once gave a beggar 50c and asked for a receipt in return. Realising that beggars do not issue receipts, he promptly grappled for his 50c.

 

[locko24]

Donations to the Catholic church in australia are tax deductible. They are a registered charitable organisation.

Fair enough. It may be, though most aren't.

 

[skater]

Fair enough. It may be, though most aren't.

Actually, I believe that you can ask any Church for a receipt, but I'm led to believe that this is reserved for followers that have a direct debit from their account for their tithe's, as the amount given is traceable.

 

[Aaron Sice]

china once gave a beggar 50c and asked for a receipt in return. Realising that beggars do not issue receipts, he promptly grappled for his 50c.

no, you're mistaken.

china knows that's below the threshhold for deductibility, so it wasn't worth donating.

 

[locko24]

Actually, I believe that you can ask any Church for a receipt, but I'm led to believe that this is reserved for followers that have a direct debit from their account for their tithe's, as the amount given is traceable.

You can get a receipt, but there would be no point as it not deductible.

 

[Fifth]

no, you're mistaken.

china knows that's below the threshhold for deductibility, so it wasn't worth donating.

Ah, yes, that pesky $2 rule.

 

[GreenMedallion]

What a great idea that website is. I joined the site and funded 3 loans.

 

[Jen_PFR]

Love this idea!! Joined and helped to fund four loans, then posted on Facebook - my friends tend to be philanthropically inclined, so hopefully this will take off

 

[Perp]

What a great idea that website is. I joined the site and funded 3 loans.

Love this idea!! Joined and helped to fund four loans, then posted on Facebook - my friends tend to be philanthropically inclined, so hopefully this will take off

Welcome to the team, both of you! I'm inspired watching this small team steadily grow the past few years. It's the fact that people have stuck with it, continuing to re-loan, and that we've had a slow but fairly consistent growth of members, that's allowed our team to achieve so much. Awesome, thank you.

Aaaand we just passed 2,500 loans!

 

[Rickardo]

Just made loan #11 to a man from Hondouras to buy supplies for his grocery store, and #12 for a man to fix his house in El Salvador

 

[Rickardo]

Bump. Loan number 13 to Hellen from Kenya to buy a water dispenser and fridge.

 

[Ojm]

Funded my account with $25.00 over the weekend and made a loan to Joseph in Kenya to buy materials for his metal shop. This is my first loan apart from the sign-up free loan.

 

[eeho]

Newest member of the Kiva Somersoft Team checking in, thanks to Tracey for organising!

 

[rodimus]

I am very happy that all of the borrowers returned 100% of the money I lent to them. I can now recycle the money and gift to others.

 

[devank]

How do you hide your name from appearing on Kiva? Kiva picked it up from the facebook account.

 

[Perp]

How do you hide your name from appearing on Kiva? Kiva picked it up from the facebook account.

From Kiva help:

How do I change the name associated with my Kiva account?

To change the name associated with your Kiva account, log into your Kiva account and go to: https://www.kiva.org/account/info

If you want to change the name that is displayed on your public lender page, go to: https://www.kiva.org/community/lender/edit-profile

 

[GreenMedallion]

What a great idea that website is. I joined the site and funded 3 loans.

Up to loan #30 now

 

[Perp]

Up to loan #30 now

Awesome! Just updated the team stats in my sig.