GIVING BACK
'Matching challenge' raises more for Africa
The donors John and Rebecca Horwood
The Gift: Raising more than $465,000
The Cause: Opportunity International Canada
The Reason: To fund entrepreneurs in Africa
A couple of years ago, Rebecca Horwood read a newspaper article about Opportunity International, a non-profit agency that specializes in offering micro loans, sometimes as little as $50, and other financial services to poor entrepreneurs to help them expand their businesses.
Ms. Horwood mentioned the article to her husband, John, who was mildly interested.
A few months later, Mr. Horwood happened to meet Gary Walsh, the organization's president. After learning more about the group's work, he became equally intrigued.
"Then we just got involved," Ms. Horwood said from her office at Toronto-based Richardson Partners Financial Ltd., where the couple are senior executives.
"We loved it."
They donated $125,000 over two years and made another $100,000 gift in 2008. But instead of just donating money this year, they turned it into a matching challenge.
Small groups were given $500 each to launch their own fundraising project.
The projects ranged from sales of homemade bread, tea and lemonade to barn dances, auctions and garden parties.
The extra efforts helped raise $137,000 in two months. The Horwoods kicked in an extra $37,000 and, thanks to matching grants from the Canadian International Development Agency, more than $465,000 was raised in total.
The money will be used for micro financing programs in Ghana and Mozambique.
"We were ecstatic about this," Ms. Horwood said, referring to the fundraising events.
"We are in the investment business so this was a tremendous investment."
While the Horwoods are involved in other charities, they plan to stay active with Opportunity International.
"This is one that really resonates with us," she said.
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