Trustee: Gumball Foundation
Los Angeles , CA
Why are you interested in becoming a Trustee?
We are hoping to create opportunities for capable individuals that have the ability to grow, but have limited access to funds.
What is the mission of your organization?
We aim to foster, support, and guide the next generation of creative social entrepreneurs, through an innovative program that seeks to make a positive impact on individuals and communities in need. We strive to instill in our students a sense of integrity, social responsibility, and respect for themselves and others while saving for their college education.
In the past, how effective have you been in achieving this mission?
The list of awards by institutions such as Annenberg, California Community Foundation, Eisner Foundation define the level of success and credibility of our program.The success of the program is assessed by measuring the academic progress of students and individuals in our program, we use technology to measure the financial metrics and indicators. In addition, a defined matrix measuring students quarterly progress report cards measuring key metrics in math and english, finance and goals.
Do you belong to any organizational networks -- nationally, regionally, or locally? If yes, please list.
Annenberg Foundation, California Community Foundation, RISE Financial Pathways, Los Angeles Social Venture Partners.
How will you decide who to endorse as a borrower? What due diligence will you conduct?
Our organization deals with established local small business owners. Most with a significant of community and social credibility. You must provide a copy of your fictitious business name filing (DBA form) You must provide two forms of identification or ITIN number. You must submit monthly cash flow for the last 12 months. You must be a trusted and established Gumball Foundation partner with social and community endorsement.
How do you plan to support the borrower, both before and after the loan is disbursed?
Gumball Foundation plans to provide resources, access and structure by partnering up with RISE financial pathways to provides technical support a CDFI with 25 years in the community. www.risela.org
How will you help us ensure that the loans you endorse have a significant and positive social impact?
Our borrowers will be trusted community business members that have demonstrated the capacity and credibility to stay afloat. Gumball will measure the impact of jobs, capacity and growth that having a pre-approved loan will make on each member.
About Gumball Foundation
- Trustee Type:
- Education, Social Entrepreneurship, Entrepreneurship, Youth, Small Business, Corporate Partners
- Second Tier trustee
- On Zip Since:
- Jan 15, 2014
- Loans Endorsed:
- Total Value:
- Paying on Time:
- Paying Back Late:
- Repaid in Full:
- Repayment Rate: