Around 10.5 million Brazilians live in conditions of extreme poverty. These citizens are denied many of their rights and often survive through assistance from those touched by their precarious living conditions. The problem is that these donations tend to be sporadic, which explains Brazil being in the 90th position in the World Giving Index, behind much poorer countries like Afghanistan and Bangladesh.
“We need to encourage a philanthropic culture in the country so that people not only start to donate more, but to donate better”, says Leonardo Letelier, president of “SITAWI Good Finance”. Founded in 2008, the organization has the goal to promote social transformation in the country. For this reason, it proposes to establish connections between social organization and donors.
Among its activities, SITAWI administers philanthropic funds, offers low interest loans to nonprofits and social enterprises, provides consultancy on social-environmental risks and also promotes fundraising campaigns. With these initiatives, it generates its own revenue and this year’s budget is estimated at R$ 1.3 million. “Our goal is to bring more efficiency to the social sector”, according to Letelier, who formerly working in financial markets.
It’s no coincidence then that one of SITAWI’s best-known supporters is former president of the Central Bank of Brazil, Armínio Fraga. As in the financial world, numbers are also expressive and important in the social sector. In its seven years of operation, 33 projects received R$ 6 million in investments, benefiting more than 150 thousand people. This means that for every R$ 1 donated, R$ 4 of positive social impact were generated. Definitely a good number for the country.