First, what is a recurring donation? It is simple. Instead of making a one-time donation, you set up a regular, automatic donation. That is, you establish an amount you can donate every month and become the sponsor of a particular student using those funds. Each beneficiary will have one or more sponsors depending on the number of donors necessary to cover the scholarship that the student receives. We automate the transaction for you.
Why should you make a recurring donation? First, we want to foster a greater connection between our donors and beneficiaries. As a regular donor, we will let you know which student benefits from your contribution and occasionally update you on their progress. You will have the opportunity to learn about their goals, aspirations, and the community they come from. Our experience has been that donors find their contributions significantly more rewarding when they have direct knowledge of the impact they have.
In addition, making a recurring donation allows you to better plan your finances and help us better plan ours. Instead of making a larger, one-time donation, you can make a smaller but regular donation. This can help you better plan your spending and ensure you always have money to help others. In the same way, it allows our income to be more predictable, which helps us announce new scholarships faster and generally makes our planning and operations more agile.
How big should my recurring donation be? We have decided to implement a minimum amount of USD$10 with a monthly frequency for donations in the United States (and other countries). For contributions in Colombia, the minimum amount is COP$20,000, with a monthly frequency too. These minimums ensure that your donation is effective after covering the financial costs of the transaction.
Remember that by sponsoring a student, you are helping disadvantaged students achieve their college dreams. Your contributions allow them to receive financial assistance and comprehensive support. We want them to be financially secure and develop skills outside of their curriculum that will help them succeed in the job market. Together we positively impact individuals, their families, and their local communities.
If you have any questions about recurring donations and this sponsoring plan, please get in touch with us at [email protected]. Please give us the opportunity to answer your questions so we can change lives together!
