is a christian faith based nonprofit organization based in lancaster pa focused on alleviating physical and spiritual poverty through christ centered microenterprise development . with a mission to invest in the dreams of families in the world s underserved communities as they proclaim and live the gospel hope international now operates in 16 underserved countries and has assisted hundreds of thousands of people through over 2.7 million loans totaling more than 800 million since it began operations in 1997 . its clients also currently hold 30 million in savings . hope international type nonprofit organization founded 1997 headquarters lancaster pa united states key people jeff rutt founder and peter greer president products financial services microfinance revenue 15 137 288 dec 31 2014 1 website http www.hopeinternational.org contents 1 need for financial services for families living in poverty 2 history 3 methodology 4 performance 5 the role of faith at hope international 6 countries where hope international operates partner organizations 7 governance 8 homes for hope 9 additional reading 10 references 11 external links need for financial services for families living in poverty edit the world bank reports that nearly 3 billion people in developing countries have little or no access to formal financial services . 2 according to cgap people living in poverty like everyone else need a diverse range of financial services to run their businesses build assets smooth consumption and manage risks . traditionally these families fill financial gaps by borrowing from friends and family or by borrowing from loan sharks who charge high interest rates . oftentimes these options do not provide lasting solutions . the cycle of poverty continues as individuals struggle to reach a point of financial self sufficiency . microfinance defined as providing financial services such as small loans to poor people so they can increase their income and decrease their vulnerability to unforeseen circumstances a provides an opportunity for lasting change in even the poorest of communities . many of hope s clients are women seeking to establish sustainable means of providing food clothing shelter and an education for their families . income from businesses built in part through small loans and savings not only helps the individual client but also benefits his or her family and subsequently strengthens the local economy . history edit after the collapse of the soviet union in 1991 jeff rutt and the pennsylvania based church he attended partnered with a ukrainian pastor to provide charitable goods to the ukrainian community . after three years of partnership rutt found that the goods were doing more to create dependence upon charity instead of achieving long term change within the community . 3 after looking into different forms of development aid rutt decided to initiate a microfinance program to empower ukrainians . with the backing of rutt s church and the ukrainian pastor rutt offered small business loans to local individuals . 4 the program was successful and in 1997 rutt established hope international . 5 after further work in ukraine the organization began looking for opportunities to expand its operations into other countries where a need for such services had been identified . in 2004 peter greer became hope s president after spending several years at various microfinance organizations and attending graduate school at harvard university . methodology edit hope international shares the hope of christ as they provide biblically based training savings services and loans that restore dignity and break the cycle of poverty . through hope s services men and women are equipped to use their god given skills to provide for their families meet needs in their churches and communities and start building a thriving marketplace . the organization operates through one of two models depending on the country of operation . the first method is called savings and credit associations . 4 savings and credit associations are formed by a group of 10 to 50 individuals who agree to meet regularly to pray worship share encourage each other and make savings deposits into a common fund . clients regularly save money to stabilize household income provide a safety net in emergencies start or expand businesses or pay for household expenses such as school fees . savers retain ownership of the funds they have deposited . many associations allow for savers to take out loans for their financing needs to be repaid with an agreed upon amount of interest that benefits the greater group from the pool of savings after the loan has been approved by the members of the association . an alternative form of poverty alleviation is known as credit led microfinance . this approach involves a group of 15 30 entrepreneurs who together receive loans from hope international or its local partner . 6 each client cross guarantees the loans of other groups members since there is no form of collateral to offer for the loan . as they access much needed capital clients can launch or expand businesses by purchasing productive assets buying supplies in bulk improving inventory or investing in improvements . accountability to the group provides powerful incentive to make regular loan repayments and to contribute additional savings to the group . 7 in some cases clients graduate out of a community banking setup and move on to a solidarity group where loan amounts are higher . performance edit in addition to the contributions of clients themselves hope international s work is funded through individual donors churches foundations businesses and homes for hope . in the last five years approximately 98 percent of loans in the hope network have been repaid . hope s clients repay loans with interest and all investments remain in their local microfinance institution stimulating the local economy and allowing for continued loan distribution . for eight consecutive years charity navigator has awarded hope international its highest four star rating something fewer than 2 % of u.s. nonprofits achieve . hope earned a score of 100 100 in accountability and transparency and an overall rating of 91.38 http www.charitynavigator.org index.cfm bay search.summary & orgid 8235 . u uxszsxnbo . hope international also has a philanthropic dividend policy . as hope led microfinance institutions become sustainable they are committed to giving 10 percent of their profits to support local christ centered children s ministries . the role of faith at hope international edit hope international seeks to transform its clients both physically and spiritually . in addition to providing loans and establishing savings groups hope offers biblically based business training and discipleship to its clients . although hope international is a christian organization it works with all individuals regardless of their race religion gender sexual orientation or marital status . 8 countries where hope international operates partner organizations edit dominican republic esperanza international 9 established in 2004 . haiti esperanza international 9 established in 2006 . philippines center for community transformation 10 established in 2007 . romania romcom 11 rwanda urwego opportunity bank 12 established in 2005 . democratic republic of congo 13 14 established in 2004 . zimbabwe acta non verba 15 burundi established in 2008 china established in 2000 india russia moldova established in 2005 ukraine established in 1997 . republic of congo 16 established in 2009 . peru malawi central asia country name withheld for security reasons governance edit hope international has an eleven member board of trustees chaired by jeff rutt . 17 the organization also has 151 local board members located throughout the us . peter greer was appointed as president of the organization in 2004 after working abroad with various microfinance organizations and graduating from harvard business school . 6 greer heads hope international s eleven member executive team . program directors also oversee the organization s work from within its countries of operation . homes for hope edit homes for hope an affiliate program of hope international was also established in 1998 by jeff rutt . 18 through homes for hope home builders and trade partners are able to build benefit homes on a pro bono basis . 19 20 to date the organization has raised more than 10 000 0000 in support of hope international and is currently operating in nine states in the united states . in 2008 jeff rutt was awarded the hearthstone builder humanitarian award for his humanitarian efforts . 21 additional reading edit the poor will be glad by greer and smith when helping hurts by corbett and fikkert the blue sweater by jacqueline novogratz a billion bootstraps by smith and thurman banker to the poor by muhammad yunus dead aid why aid is not working and how there is a better way for africa by dambisa moya give us credit by alex counts good news to the poor how the world s poor live on 2 a day by daryl collins jonathan murdoch stuart rutherford orlando ruthven the economics of microfinance by beatriz armendariz and jonathan morduch the poor and their money microfinance from a twenty first century consumer s perspective by stuart rutherford walking with the poor by bryant l. myers references edit a b hope international . charity navigator . retrieved july 11 2012 . financial markets and access to finance advisory services . world bank group . retrieved 04 03 2012 . check date values in access date help greer peter smith phil 2009 . the poor will be glad . michigan zondervan . p. 50 . isbn 978 0 310 29359 0 . a b greer and smith . 2009 . the poor will be glad . michigan zondervan . helping through hunting . something more safaris . retrieved 2012 08 16 . a b official website . hope international . retrieved july 11 2012 . cassar alessandra ; lucas crowley ; bruce wydick june 2005 . the effect of social capital on group loan repayment evidence from artefactual field experiments . http www.hopeinternational.org about hope faqs.html a b esperanza international dominican republic a partner of hope international . kiva.org . retrieved july 11 2012 . savings shoes and stewardship microfinance with education in the philippines . the chalmers center . retrieved july 11 2012 . romcom s.a. . european microfinance network . retrieved july 11 2012 . urwego opportunity bank of rwanda uob a partner of world relief hope international and opportunity international . kiva.org . retrieved july 11 2012 . hope drc a partner of hope international . kiva.org . retrieved july 11 2012 . beebe shannon d. ; mary kaldor 2010 . the ultimate weapon is no weapon human security and the new rules of war . publicaffairs perseus books group . pp. 184 185 . anvz partners . retrieved 2012 08 16 . evangelical council for financial accountability . hope international . retrieved 2012 07 18 . http www.hopeinternational.org about hope leadership people type board of directors history . homes for hope . homes for hope . retrieved 28 october 2013 . fanion rebecca . central penn business journal http www.evansvilleliving.com articles building hope . retrieved 16 september 2011 . missing or empty title help homes for hope about us board of directorys . homes for hope . homes for hope . retrieved 20 august 2013 . bair jessica . in brief homebuilder honored . . central penn business journal . retrieved 21 february 2008 . external links edit hope international official website retrieved from https en.wikipedia.org w index.php title hope international christian microfinance & oldid 741427158 categories philanthropic organizations based in the united stateschristian organizations based in the united statesmicrofinance organizationsdevelopment charities based in the united statesreligious charities based in the united stateschristian charities based in the united stateschristian 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