Kingsgate Mall raises funds to benefit Lookout Community programs

From the desk of Karen O’Shannacery, Executive Director

Thank You Volunteer Dave!

Microfinancing Update

Oreo finds a home too

In The Community

Livingroom Dropin Activity Centre

In the summer of 2008, the LivingRoom Drop-in Carwash workers allotted the bulk of monies earned to the drop-in for crib boards and other day-to-day needs; the proceeds of another carwash went to Children’s Hospital and yet another to a Microfinance Venture. For anyone unfamiliar with the concept of microfinance, essentially it is the supply of loans, savings, and other basic financial services to people in the third world.   As the financial services of microfinance involves small amounts of money, the term "microfinance" helps to differentiate these services from those which formal banks provide.

With the project the drop-in is supporting, nobody – not even billionaires – can donate more than 25.00 to a business in the third world.  This keeps the ability to participate more democratic in that even people with limited means are able to help the very poorest in the world.  If a business requests 800.00 in order to expand, it would require 32 people or groups donating 25.00.

The members decided to support businesses in: CAMBODIA, PAKISTAN, PARAGUAY & UGANDA.

As of February 18, 2009: “Paraguay and Uganda” have paid off their loans in full; the business in Cambodia has paid off 31% of its loan and the Pakistani business has paid off 42% of its loan.

Rather than cashing in our return, the members of the carwash team have decided to re-invest the monies to other businesses around the world.  To that end, the decision was made to honour two of our members who endured dreadful circumstances in Central America by supporting businesses in both Guatemala and El Salvador.

Less than 12% of the money earned from our carwashes was designated to “the world”; however, this investment has so far helped people in 6 different countries, has helped people raise their families and has helped their communities.  With each successive payback another business in another part of the world will benefit from our wonderful volunteers.