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Loren Finnell - Ecuador
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Loren Finnell, Peace Corps volunteer in Ecuador (1964-66), is the founder and President of The Resource Foundation, an organization that channels millions of dollars to indigenous grassroots organizations in Latin America thanks to a pioneering model for successful partnerships with corporate donors.
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The Resource Foundation came out of Loren Finnell’s Peace Corps experience in Ecuador (1964-66) as he noticed that many good local organizations working in development did not have the resources they needed.
He set up The Resource Foundation to link individual organizations in Latin America with wealthy individuals and the philanthropic programs of corporations and foundations that needed connections with local organizations. The Resource Foundation sees both the donors and the recipient groups as clients because it matches both and provides a service to both groups.
In this interview, Loren Finnell tells us that this has been a very successful formula. He has grown the program from nothing in 1987 to $4.5 million in 2006 and expects to grow at 10% to 15% per year for the foreseeable future. The Resource Foundation works on a 8% overhead, a remarkable achievement considering that many social benefit organizations struggle to stay under 25%.
Loren Finnell’s Peace Corp experience taught him that people are basically the same around the world and that people with few resources are to be respected. He also learned that the secret to success for the long term is to motivate people to do something for themselves; if you give them something today, the help will be short term. The Resource Foundation works for the long term by motivating people to develop themselves.
Loren Finnell operates The Resource Foundation like a for-profit organization – he makes sure that its income is greater than the expenses. But the difference, he says, between The Resource Foundation and most social benefit organizations and the world of for-profits is that the “profit” is re-invested in their clients. It does social good rather than only personal good for the owners.
In this interview, Loren Finnell tells us that too many social benefit organizations think of themselves as charities. They must shift this thinking to recognizing that they do charitable work, but they cannot operate as a charity.
CLICK on the player above to listen to his interview.
thanks for the comment...if you want to
contact Loren, you can email him at the Resource Foundation
Ecuador
Hola Senor Loren, I was sent to Ecuador in 94 and assigned to a new program at that time having to do with Infrastructure / Banks / Co-ops. There were 6 of us. The Program smacked of something amiss and myself and another left the Corps. Within 6 months the Program was aborted and the remaining 4 volunteers were sent home. I have never quite got over the fact that I went through so much to be chosen for the Corps and then was set up in an area that was not my expertise nor my wishes. I pleaded with my Supervisor to transfer me to another needed area (and there were plenty I qualified for) but no, I had to come home first and then re-apply, which of course one is not apt to do. I just want to have this little discussion with you because I have never had an opportunity to discuss it or be given an explanation of exactly what went on and what failed etc. I am now 72 years old (was only 59 then) but still my heart is with the Peace Corps and so often wish I were back to do it over and make certain I was placed where I could of done some good. How I miss my family down there. Nice reading about you...what a guy! thanks for listening, Sally