Microfinance Pioneer Earns Top Rating for Second Consecutive Year
for Efficiency and Sound Fiscal Management
Boston, Mass., July 9, 2008 – ACCION® International, a pioneer and leader in microfinance, today announced that it has been awarded Charity Navigator’s coveted four-star evaluation for efficiency and sound fiscal management, for the second consecutive year.
Charity Navigator, the nation’s largest independent evaluator of charities, annually applies data-driven analysis to charities and nonprofits. Four stars is its highest rating, indicating that an organization excels, as compared to other U.S. charities, in successfully managing its finances in an efficient and effective manner.
“Only 17 percent of the charities we’ve rated have received at least two consecutive four-star evaluations, indicating that ACCION consistently executes its mission in a fiscally responsible way, and outperforms most other charities in America,” said Ken Berger, president and CEO of Charity Navigator. “This ‘exceptional’ designation… differentiates ACCION from its peers and demonstrates to the public that it is worthy of their trust,” he added.
“Charity Navigator is perhaps the most visited and visible rating of charitable organizations online, and relied upon by donors for making informed decisions about their giving,” said Roy Jacobowitz, ACCION’s managing director of External Affairs and head of development. “This rating will be instrumental in helping us to raise more than $9 million in private funds this year – funds that will be extremely well-leveraged. In 2007, private contributions of $8.5 million helped ACCION, through its partners, put $5.1 billion in small loans into the hands of the working poor.”
For full details on Charity Navigator’s analysis, please go to the Accion rating page on the Charity Navigator website:http://www.charitynavigator.org/index.cfm?bay=search.summary&orgid=3211
Accion is a private, nonprofit organization with the mission of giving people the financial tools they need – microenterprise loans, business training and other financial services – to work their way out of poverty. A world pioneer in microfinance, ACCION was founded in 1961 and issued its first microloan in 1973 in Brazil. Accion’s partner microfinance institutions today are providing loans as low as $100 to poor men and women entrepreneurs in 25 countries in Latin America, Asia, Africa and the United States. In the last decade alone, ACCION partners have disbursed more than $17.4 billion in loans to more than 6.2 million clients; 97 percent of the loans have been repaid. Selected for the fifth consecutive year for its pioneering approaches to poverty alleviation, ACCION was among 45 organizations awarded the 2008 Social Capitalist Award by Fast Company Magazine/Monitor Group. For more information, visitwww.accion.org.
ACCION® is a registered trademark of Accion.
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