1. Is Epic Change a 501(c)(3) organization?
Yes, Epic Change is a registered 501(c)(3) nonprofit organization and our federal tax identification number is 26-0155393.
2. Why should I donate to Epic Change?
By donating your dollars to Epic Change, you are making a "perpetual" gift. Because we reuse repaid loans to fund future projects, your donation may be used to support the construction of a school in Africa and, upon subsequent repayment, the expansion of a hospital in Peru or the improvement of a program in the United States to serve the homeless, for example.
Additionally, unlike many organizations that perform global service, we are not affiliated with any particular political agenda or
religious denomination. To avoid potential conflicts of interest and ensure our organization doesn’t participate in undermining indigenous cultural norms and beliefs, we don’t promote propaganda, proselytization or evangelization of any kind.
3. How are you different from existing micro-lending organizations?
Epic Change has certainly adopted some of the key elements of successful micro-lending practices. Most importantly, the projects
we fund are proposed and led by members of local communities and we provide loans instead of grants to fund selected project proposals.
We do differ significantly, however, from micro-lending organizations inasmuch as they typically make small loans that enable
individuals to engage in for-profit activities whose proceeds they will use to pay back the loans. Epic Change instead makes
somewhat larger loans to not-for-profit entities and individuals in need (e.g., schools, hospitals, community-based organizations, etc.)
and, therefore, partners with loan recipients to implement profitable means to enable loan repayment.
Additionally, because we feel it’s critical to improve global awareness about the causes we address, Epic Change is particularly
focused on leveraging local stories as assets rather than engaging in any potential profitable enterprise to raise funds for loan payback.
4. How do you decide which causes qualify for your program?
Epic Change looks for causes that have a compelling story to be told and are driven by effective, local leaders that are passionate
about improving their communities.
5. Why does Epic Change provide loans instead of just giving the money outright?
The Epic Change model is unique because we provide interest-free loans to partners, rather than charitable gifts. A parent of one of the children at our first project site once said, “If you tell a man he is weak, he will be weak; if you tell a man he is poor, he will be poor,” illustrating perfectly the reasoning behind the Epic Change model: we treat our partners not as recipients of charity but rather as leaders who possess the strength and resources (i.e., their stories) to improve their own communities - and even to improve other
communities in need elsewhere on the globe.
Epic Change believes that giving the money outright only perpetuates a sense of inequality and conveys an implicit feeling of dependence. We adamantly refuse to rob communities of their sense of value, power and autonomy by fostering a relationship of dependency on our organization or any other outside group.
We also believe our model enables sustainable outcomes. Since we work with our partners to pay back loans over a period of 3-5 years, we’re also helping them to develop the means to raise income long after they’ve paid back their initial loans, which is crucial to their continued self-reliance. Our model of loans and repayment also gives us the opportunity to recycle the same funds multiple times; instead of building one school, the funds we raise may fund many, many projects across the globe for years to come.
6. How does Epic Change earn the money for the loans?
Loan money comes directly from donations made to Epic Change. Once we have collected enough money to complete our first project, an estimated $250,000, we’re hoping that the combination of recycling the repaid loan amounts and sales of different storytelling products will be enough to fund all future projects and get Epic Change out of the traditional fundraising business.
7. How do non-profit organizations pay back the loans?
Epic Change reviews each loan request carefully to determine whether payback will be possible and we only approve loans where complete, successful payback is anticipated. Once a loan has been granted, Epic Change works hand in hand with each organization to determine the most effective loan repayment projects and provides support from inception to completion of each project. We also connect loan recipients to global resources that can help them to generate sufficient income to pay back loans.
Loan repayment projects may include creation and sales of books, t-shirts, CDs, greeting cards, arts & crafts, theatrical performances and other creative, profitable ideas based on local stories.
8. What happens if an organization can't repay its loan?
If an organization is unable to pay back the loan within the specified terms, but has made every effort to partner with us on recommended payback projects, we anticipate that the loan amount would be forgiven.
9. If my donation is used as a loan, do I get my money back at the end of the project?
No, all loans that get repaid will be used to fund epic change in another community. In essence, we pay it forward as many times as we can so your donation may actually fund a number of worthy efforts across the globe.
10. Does Epic Change only fund projects in Africa?
While we're starting in Africa, we plan to undertake projects throughout the world, including the United States. Therefore the impact of your donation to Epic Change is not limited to a particular geographic region.
11. What is the next Epic Change project?
We’re thinking big, but we’ve started small. We’ve made a conscious decision to focus our efforts on only one project at a time right now to really refine our model and ensure the success of this specific effort. We anticipate that we may choose another geographic location or a different type of effort; and we may use the repaid funds to make multiple loans to support more than one cause.
12. How can I help?
There are a number of ways you can help: Make a donation, become a volunteer, and most importantly, spread the word! |
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