Our Process
We are constantly evaluating needs throughout the world, in the most obvious, and not-as-obvious, locales and sectors. We seek to work in those areas with the greatest chance for maximum ROI (Return on Investment). This is what it means to be “exploring the economics of compassion.”
Andrew Carnegie is credited with saying, “It is more difficult to give money away intelligently than to earn it in the first place.” We have witnessed the truth of this first-hand. Leaving cynicism out of the equation, there are countless well-intentioned people who donate their money to causes for which their money may not ever achieve the outcomes that are hoped for. And it is not because the organizations are corrupt. And it’s not because the people running the organizations lack skill or ability. It is simply that the larger systems, under which we all work, take a lot of time, effort and resources to navigate.
The larger non-profits that have the resources to devote staff to navigating the larger systems are able to reach more people, but it is harder for them to pivot.
The smaller non-profits may not have the resources to figure out how to navigate those waters and therefore their reach is much smaller. But oftentimes they make it all the way to the “finish line” for those few folks they are trying to help, because if they run into a roadblock in the process, their smaller size allows them to turn on a dime.
Our programs are designed to be able to turn on a dime. We like being able to manage our work and pivot quickly. In this way we seek to complement the larger organizations out there, potentially helping the ones that are bound to fall through the cracks.
We currently have two unique programs through which we are trying to make a difference. Click on one of the links below to read about either of them.
In mid-August, our first scholarship recipient headed off to start his journey at Lake Superior College in Duluth. Matthew graduated from Owatonna High School in 2023. He is currently enrolled in Lake Superior’s Aviation Maintenance Technology program.
Rather than open up our scholarship to a new student each year, our scholarship will follow Matthew through to the completion of his degree program. We are proud of Matthew and excited to see where this journey takes him!
Learn more about Growing Hope Scholarships
Purpose
The purpose of the Microloan Program is to provide people with temporary financial resources in order to avert what could lead to real hardship for their personal situation. The use of a loan as opposed to a grant/gift aligns with our commitment to the “economics of compassion” because oftentimes many people don’t necessarily need an outright donation to overcome a temporary struggle. Rather, they just need something to help fill in the gap. And it can be difficult to secure a loan for a small dollar amount, particularly if a person does not have a very high credit score, or a credit history. A loan also aligns with the “economics of compassion” as it allows our funds to be regularly replenished by the repayment of the loans so that our money can be used over and over again. This allows us to help even more people than if we simply made an outright donation.
How to measure success
It is worth noting that success is not measured by to what extent people have been helped to avert a financial crisis. If people have received a loan from Growing Hope, their financial crisis will have been averted. Rather, success will hinge on to what extent loans are repaid. Afterall, the purpose of having the program be loans rather than outright donations is that the funds will be replenished through loan repayments.