Opportunity International Receives 4 Star Rating
OAK BROOK, Ill., Oct 14, 2008, Opportunity International, one of the world’s largest and fastest growing microfinance organizations, has been rated a top performing charity by Charity Navigator, America’s largest and most utilized evaluator of charities. Charity Navigator recognized Opportunity’s efficiency and effectiveness in managing its finances with a four-out-of-four star rating.
Charity Navigator’s unbiased, objective, numbers-based rating system assesses the financial health of more than 5,000 of America’s best-known charities. The organization examines two broad areas of a charity’s financial health — how responsibly it functions day to day and how well positioned it is to sustain its programs over time. Each charity is then awarded an overall rating, ranging from zero to four stars.
“We are pleased to be ranked among the nation’s top charities, which further reinforces our reputation as a global leader in bringing a full range of financial services to the poorest of the working poor,” said Christopher A. Crane, president and CEO of Opportunity International. “Opportunity’s unique business model and a client loan repayment rate of 98 percent mean that supporters are able to provide benefits to the poor to a far greater extent than the actual dollars they contribute.”
As client loans are repaid, the money becomes available to loan again and again. Clients’ savings accounts and borrowed financial funds add to the loan pool available to clients. Through the recycling of loans, mobilization of savings deposits and financial leveraging, every $100 contributed amounted to $274 in benefits to the poor in 2007. This multiplier effect compounds the power of a single contribution and creates a cycle of economic growth that expands the positive impact of charitable giving through Opportunity International.
For more information on the Charitable Navigator’s ranking, visit Opportunity International’s rating page on www.charitynavigator.org.
About Opportunity International
Opportunity International provides access to savings, small business loans, insurance and training to over five million people working their way out of poverty in the developing world. Clients in over 20 countries use these financial services to start or expand a business, provide for their families, create jobs for their neighbors and build a safety net for the future. For more information, visit http://www.opportunity.org or join the conversation at http://facebook.com/opportunityintl and http://twitter.com/opportunityintl.