Skip to main content
Category

Finance

A Brief History of Impact Investing in The United States

By Finance, Green Investing, Purpose of Finance, Stewardship One Comment

Impact investing has a much longer history than what many of us expect.

The concept of impact investing is not new; the term was coined in the early 2000s, but the practice has been around for centuries. The central idea of impact investing is to use capital to create positive social or environmental change, while also generating attractive financial returns. 

This article explores Impact investing in the United States and how it has evolved, especially over the course of the last few decades.

What’s The Origin of Impact Investing? 

The 1800s: Religious Beginnings

In the United States, socially-conscious investing emerged in the 19th century. A group of historically-connected Protestant Christian denominations, known as Methodists, abhorred the slave trade, illegal immigration, and excessive consumerism. They decided to divest from companies involved in industries in these sectors. Methodists also opposed investing in businesses that produced alcohol, grew tobacco, or promoted gambling.

Another Protestant movement, the Quakers, played a part in shaping impact investing. Quakers forbade investments in the slave trade and slavery-related industries. They also avoided industries related to war, such as weapons manufacturing. They established the Pioneer Fund in 1928 in Boston, which invested only in sectors they deemed moral. 

These diverse groups’ early investment strategies aimed to get rid of the so-called “sin” industries. Today, sin stock industries typically include those involved in alcohol, tobacco, gambling, sex-related businesses, and weapons production.

These early tenets of socially-conscious investing evolved to stand for an investment philosophy aligned with investors’ social concerns and goals for social change. 

 

Modern Impact Investing

How Did Government Policy Shape Impact Investing? The 1950s – 2000

By the second half of the 20th century, policymakers and firms had implemented impact investing principles into the financial services industry. 

One landmark piece of legislation was The Community Reinvestment Act (CRA), passed by Congress in 1977, which outlawed discriminatory lending practices in low-income areas.

Additionally, the U.S. Sustainable Investment Forum (US SIF) was established in 1984 in response to climate and environmental concerns driven by tragedies like the Chernobyl disaster in the 1980s.

In addition to the government, firms and their executives took strides to incorporate impact investing principles into their business practices. The 1990s, for instance, brought the first screens for mutual funds aimed at avoiding investments in companies with poor records on social and environmental issues. Key among them was the Domini Social Index, which launched in 1990 and consisted of 400 large-capitalization US companies that were selected based on social and environmental criteria. 

In 1996, a group of business leaders, academics, and philanthropists launched the Social Investment Forum Foundation (SIFF) to promote best practices in sustainable and responsible investing (SRI). The decade also saw the launch of the Global Reporting Initiative (GRI), which provided guidelines for companies to voluntarily disclose their environmental and social performance; GRI is now a major governing body in the environmental, social, and governance (ESG) space.

How Did Impact Investing Go Global? The Early 2000s

The 2000s were a time of significant growth for sustainable and socially responsible investing (SRI). The Rockefeller Foundation laid much of the groundwork, coining “Impact Investing” as an umbrella term in an attempt to unite the fragmented industry into a collective network. 

The Rockefeller Foundation also launched the Global Impact Investing Network (GIIN), assembling impact investors to build a coalition focused on exchanging and organizing ideas. The GIIN has since grown into one of the largest international governing bodies for impact investors. 

Then in 2007, the United Nations Principles for Responsible Investment (UN PRI) were published with the aim of inspiring more investors to incorporate environmental, social, and governance (ESG) considerations into their asset allocation strategies. The UN PRI now includes over 2,000 signatories representing more than $70 trillion in assets under management (AUM).

The financial crisis of 2008-2009 led to a renewed focus on the role of finance in society and the need for sustainable investing. IRIS, a system for measuring, managing, and optimizing impact, was created in 2008 by the Rockefeller Foundation.  Since its inception, IRIS has given social entrepreneurs tools to measure and monitor process improvements and to better track business results. 

Other impact-related organizations arose such as Acumen Fund, and B-Lab, who drew on lessons learned in microfinance and other social and environmental sectors.


What is Impact Investing? Looking at The Present

2010s – Present

The Global Impact Investing Ratings System is the second system created to evaluate social and environmental impact (GIIRS). It was designed to offer guidelines and a rating system for businesses, investors, and intermediaries to make more data-driven decisions. 

In 2009, President Barack Obama created the Interagency Working Group on Social Impact Investing to explore how the government could use impact investing to achieve social objectives. The following year, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, which included provisions for impact investing by banks and other financial institutions.

In 2014, the White House convened the first-ever Social Impact Investing Task Force, composed of over 30 leaders from the public and private sectors, to develop recommendations on how the federal government could best support the growth of impact investing. The task force called for a number of actions to support the industry, including better data and measurement, greater coordination among governmental agencies, and the establishment of an Impact Investment Working Group within the National Economic Council.

Looking Forward

Impact investing has come a long way in a relatively short period of time. What started as a niche movement focused on avoiding “sinful” investments has grown into a global industry with trillions of dollars in AUM.

As of 2022, the GIIN estimates the size of the worldwide impact investing market to be USD 1.1 trillion, the first time it has crossed the trillion dollar mark. Growth has been strong with total investments tripling from 2017 to 2019 and growing at double-digit rates since. However, challenges remain, as the UN in 2018 estimated a funding gap of USD 2.5 trillion to achieve 2030 Sustainable Development Goals. 

But there is cause for optimism. Collaborative international efforts to accelerate impact investments have proliferated, and with strong governmental support, we can expect impact investments to further enter the mainstream of finance going forward.

An Interview with Joe Martinetto, the COO of Charles Schwab

By Compassion, Financial Leadership, Future of Finance, Integrity, Purpose of Finance No Comments

In last week’s episode of the Investing In Integrity podcast, our CEO Ross Overline sat down with Joe Martinetto, the COO of Charles Schwab. They unpacked the broader economic system with an emphasis on financial technology including DeFi, cryptocurrency, and Joe’s leadership of the acquisition of TD Ameritrade.

It’s an insightful episode with a humble, servant leader that has found himself in the C-Suite at one of the largest financial institutions in the world. 

To aid in the digestion of Joe Martinetto’s lessons…, we decided to lay out an overview of some of the key points discussed throughout the episode.

 

Where Young Professionals Should Focus Their Time to Maximize their Potential:

Early in the episode, around the six-minute-mark, Joe starts to discuss the areas that young professionals should focus on to maximize their potential. 

In short, he says if you want to go into finance you need to pair up your soft skills and passion for finance with some hard data skills – especially computer science. Understanding how data is created, stored, manipulated, and analyzed will put you a step ahead of your peers and prepare you for a successful career in finance.

 

How to be a Good Team Leader and Strong Team Player:

This advice from Joe comes near the 11 minute mark in the episode… This one’s pretty simple.

If you want to do well in these areas, do two things:

  1. Treat people with respect
    1. This one likely doesn’t need too much explanation
  2. Learn to listen in the right way and be open to being influenced
    1. The goal here is to achieve the best outcome – not to win the argument. In finance, we’re working with some of the sharpest individuals in the world and sure enough they have some really good ideas. Listening in a way that allows you to be influenced is incredibly important as it enables the “best outcome” to be found. 

Aside from this, another important thing to consider as a leader is how you grow your followership within your company. Joe’s personal leadership style is servant leadership – this is our preferred leadership style too btw :). That said, there are pros and cons to all leadership styles whether they be hierarchical or “flatter” through servant leadership. The key takeaway here is that this should be an intentional choice. 

 

How to Minimize Risk:

This learning comes near the 30 minute mark in the episode.

Obviously he can’t share his input on one individual asset’s risk profile, but in general here are his thoughts:

  1. Don’t buy something that you don’t understand and you can’t place a value on
  2. From an organizational level, ensure there isn’t a single person who could cause serious damage to the firm from a financial perspective
  3. Become extremely educated on the instruments you’re purchasing and the risk exposures you’re taking

 

Crypto’s future in the financial sphere:

This section came near the 40 minute mark…

The short answer:

  • Time will tell.

The long answer: 

  • There’s likely room for it in the market and it’ll force financial firms to offer better service at lower prices to clients. Crypto may just be another lever that firms can pull down the road that will allow them to continue to increase their scale and further democratize investing. 

 

Finding Purpose in Finance

By Future of Finance, Integrity, Principles, Purpose of Finance No Comments

Defining finance is akin to defining nature itself: its functions and complexities are so broad in influence that it almost becomes too difficult to assign a straightforward definition. With businesses and people across the world threatened by the new coronavirus delta variant, companies going public at record rates, and new innovative solutions in every industry, the need for financial solutions has never been more apparent. As we see these recent developments and dynamic future trends, we must return to the basics and ask ourselves, what is the purpose of finance?

 

It can be easy to view the discipline as a means of financiers shifting around capital. Another view is that finance allows companies and individuals to progress in their endeavors, fueling the idea that finance “makes the world go round.” On a fundamental level, finance is the process of managing and raising money, but there is so much more to it.

 

Why Do We Need to Understand Finance’s Purpose?

As with our personal ambitions or in traditional altruistic lines of work, purpose drives action. But it is deeper than that. As Mission co-founder Bård Annweiler astutely states in Point of Purpose, purpose is the core of everything. Purpose gives us reason to work toward a cause and stay motivated. It allows us to create our identity, set goals, and communicate effectively. Purpose is our meaning in life.

 

The same can be applied to finance, and some would even argue that it is more important in finance considering the sheer impact it has on businesses, industries, and most importantly, people. By understanding the purpose of finance, we can truly maximize our role in the industry and orient its functionality to optimize for success. We can innovate beyond the imaginable, achieving feats at a scale never seen before. That said, when we lose purpose, we lose direction, which has dramatic ramifications when matters pertain to finance.

 

So, What is the Purpose of Finance?

In a broad sense, the purpose of finance is to be a means to provide and scale solutions. It allows businesses to grow, employ new workers, and build communities. It ensures that entire institutions remain intact and avoid devastating collapse. In this sense, finance is the mechanism which steers the direction of society at large. When viewing finance and its purpose, we must look past the idea that finance is solely about capital; rather, it is about how capital will impact people.

 

This is why ethics and morals are essential when applied to finance. With so much influence on the direction of society, it is in our hands to determine where society heads. In other words, it is clear that finance stewards capital which allow companies to grow, but how companies grow and which companies grow are determined by individuals’ decisions. This includes which industries we invest in and how well-run the companies we finance are. Additionally, with so many incentives linked to short-term gratification, it is easy to sometimes sacrifice our integrity or judgment when making decisions. This is why having values influence or even guide our decision making is of the utmost importance: when we are grounded in our morals and a general desire to make a positive impact, then not only will we benefit others, but we will benefit personally as well. The data supports this line of reasoning too. According to the McKinsey report “Profits with purpose: How organizing for sustainability can benefit the bottom line” by Sheila Bonini and Steven Swartz, “an investment of $1 at the beginning of 1993 in a value-weighted portfolio of high-sustainability companies would have grown to $22.60 by the end of 2010, compared with $15.40 for the portfolio of low-sustainability companies. The high-sustainability companies also did better with respect to return on assets (34 percent) and return on equity (16 percent).” Logically, this makes sense. By investing in our future and steering society in a beneficial direction, we are driving innovation as well as positioning ourselves for long-term success.

 

When we either forget the monumental consequences of our actions and finances, or when we have a poor use of judgment while stewarding capital, we have the potential to hurt millions of people. A classic example is the 2008 Financial Crisis: with a misalignment of incentives and a series of internal seemingly harmless manipulations in banks, employees were motivated by short-sighted decision-making. While the financial services industry was by no means the sole contributor to this financial and housing bubble collapse, even with significant governmental intervention, unemployment still rose to 10 percent and about 3.8 million Americans lost their homes due to foreclosure. In this sense, we lost sight of the purpose of finance. We lost sight of how we could harness our work to benefit the greater good. We lost sight of the impact our work has on society as a whole.

 

At a technical level, finance’s purpose is clear: to manage, raise, and invest capital; however, on a human level, which is arguably far more important, it is up to us to define its purpose. It is easy to become complacent in our understanding of finance’s purpose by viewing it solely from a technical perspective; doing so makes the job easier and more straightforward. Once we add purpose to the equation, however, each action we take has more weight, but we can also help others and ourselves more with this external understanding. With ethics and morals ingrained in our decision making, the purpose of finance soon becomes to steward capital for the greater good.

 

Going Forward

So, by understanding the purpose of finance and how consequential our actions are within this broad space, what can we do moving forward? On a macro level, institutions and governments can invest in solutions that are sustainable and benefit communities.

 

On an individual level, there are steps we can take to maximize finance’s purpose:

 

  • If you do not work in the financial services industry, seek to understand how finance impacts your life – you will find it is much more involved than expected. With this understanding, you will not only be better informed, but you can advocate for certain causes with attainable approaches.
  • If you have a junior level position in the financial services industry, continue to have your purpose drive your work. Again, when we lose sight of the impact of our work or why each of our job functions matter, we become complacent and begin to view our actions as solely transactional. Instead, keep your work people-oriented, and remind yourself of your mission every day.
  • If you are a finance leader, realize the importance and impact your work has on others. You have the potential to contribute to shaping the course of history, either for better or for worse. Never underestimate how your actions and decisions influence others, ranging from those working alongside you to the millions of stakeholders you are responsible for. 

 

By taking these actions, we will become one step closer to having finance work for everyone–and while the entire global population may not understand finance’s purpose to this degree overnight, we will make incremental success toward this end goal. After all, when it comes to societal awareness in the lens of finance, we are not in a sprint but instead a marathon.

Ethics and ESG Investing

By Green Investing, Integrity, Principles No Comments

The first time I learned about ESG investing was during a social impact course my freshman year of college, one required by our university for all of us future business leaders to learn about the way corporations influence the communities around them. It was a concept that brought together environmental, social, and governance factors under one investment thesis. I remember thinking: “This is the future of finance that I want to be a part of.”

 

Accelerated by the many socially impactful events that have occurred since the start of 2020, it seems that the trend towards ESG has only been moving forward. Demand from both consumers and investors for more transparent and responsible business practices is louder than ever, and financial institutions are offering an expanding line of ESG products that just a decade ago hardly even existed. It’s a promising turn towards a more sustainable future for business and capital markets. However, with that seems to be coming a slow dilution of the true values that underlie ESG. 

 

ESG stands for environmental, social, and governance. It encompasses the way that businesses interact with society, measuring their impact and the ways that they give or take away from the good of the whole. In practice, ESG can be a tool for investors to screen for companies that don’t align with their values. Is this business negatively influencing changes in our climate? Does this one have unethical labor practices? Do they take advantage of any marginalized communities, or are underrepresented backgrounds not welcome at this firm? These are some questions that may come up when deciding how “ESG friendly” a company really is. Part of the reason that ESG has been growing in popularity as an investment thesis is that it isn’t just a feel good tactic. Studies have shown that ESG factors have a direct impact on a company’s long term sustainability and profitability. For example, an article written by Credit Suisse’s Global Head of ESG Strategy references a study done on the impact of the COVID-19 crisis on ESG and non ESG indices in European markets. Those that were ESG focused fared better than those that were not. If a company doesn’t take into account the implications of real world events on their business operations it adds a layer of risk for an investor. 

 

The problem is, there is no standardized way of measuring a company’s level of ESG integration. Every financial institution does their analysis differently, and so the criteria of the research can vary. Not only this, but currently the information that firms themselves report isn’t standardized in the United States. ESG disclosures are optional, making it hard for investors to perform their due diligence, and hard for people to really understand what they’re buying into. It also makes it easy for companies to greenwash – as in, build up an image of being socially conscious or environmentally sustainable through clever marketing and branding, when in reality, their operations say otherwise. ESG seems to have become a buzzword, along with “sustainable”, “green”, and the like.  Ultimately, there needs to be a way to strip away the fluff down to common measurements and metrics of a company’s ESG integration. Although it’s a challenge to figure out how to translate something as complex as the societal impact of a firm into comparable data, it’s necessary to help consumers and investors like myself navigate their way through the weeds and decipher who is really taking action to back up their words. 

 

On one hand, it pains me to see some businesses use ESG as a profitable tactic. Although there are many profitable companies driven by values of corporate responsibility, there are some that use ESG in a way that seems artificial, motivated by money rather than morals. On the other hand, I ask myself, does it matter why a company is doing it as long as they are? The argument can be made that even greenwashing brings awareness to the importance of a business’s impact on the environment, and ESG factors, even if only lightly taken into consideration, are better to be seen as a business tactic than not seen at all. 

 

I chose to pursue a career in finance because I see that money has the power to create change. In my short time as a student in the industry, I’ve met people, some with a lifetime of experience and some who have only just begun their careers, who give me a lot of hope for the future. They motivate me to hold on to my values in such a competitive space, whether it be understanding the impact of my actions or doing my best to work with integrity. My time at Scholars of Finance has also influenced the way I approach my career. I’ve become more sensitive to the motivations behind my decisions and the way I interact with others; this month’s value of humility has really reminded me of how much more I have to grow. However, I’m worried that there may be a balance that needs to be made between staying true to what I believe in and working alongside the motives of others in order to make progress towards a future I hope to see. 

 

As much as I’d like it to be so,  I don’t believe ESG measures will be implemented in every company simply because it’s good for society. Often, they will be implemented because they help a business appeal to consumers, or standardized requirements have been passed, or future costs of climate change, government policy, or dissatisfied workers make it too expensive not to in the long run. 

 

I can’t say if I think the implementation of ESG measures are a good or bad thing. All I can say is what I do believe: In the end, this earth, along with the people in it, are what support a business. With the ESG movement comes more visibility for this relationship, more pressure for companies to put their money where their mouth is, and more movement towards standardized regulation and reporting in the ESG space. We’re entering an age where companies can’t ignore their dependence on all of their stakeholders, and today, these stakeholders have more power than ever to hold companies accountable. It may be a necessary evil to accept that some won’t be motivated by the common good. Some may not even care to make changes past the surface level. But ultimately, that’s okay, because eventually, those will be the ones left behind.

Send your donation
To make a direct donation in Bitcoin send BTC to the address below.
3Qkv1gccndjqM5LT7YBh5YwLCbXiyyoEwW 3Qkv1gccndjqM5LT7YBh5YwLCbXiyyoEwW
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
Send your donation
To make a direct donation in Bitcoin send BTC to the address below.
3Qkv1gccndjqM5LT7YBh5YwLCbXiyyoEwW 3Qkv1gccndjqM5LT7YBh5YwLCbXiyyoEwW
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
Send your donation
To make a direct donation in Dogecoin send DOGE to the address below.
DLnbog4NokcoVviZeB9CyRtWagbA3R1vEp DLnbog4NokcoVviZeB9CyRtWagbA3R1vEp
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
Send your donation
To make a direct donation in Dogecoin send DOGE to the address below.
DLnbog4NokcoVviZeB9CyRtWagbA3R1vEp DLnbog4NokcoVviZeB9CyRtWagbA3R1vEp
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
Send your donation
To make a direct donation in Bitcoin Cash send BCH to the address below.
qrd0tq9n7azr52phqe0cf5uvayhxz0mv25pd0es88s qrd0tq9n7azr52phqe0cf5uvayhxz0mv25pd0es88s
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
Send your donation
To make a direct donation in Bitcoin Cash send BCH to the address below.
qrd0tq9n7azr52phqe0cf5uvayhxz0mv25pd0es88s qrd0tq9n7azr52phqe0cf5uvayhxz0mv25pd0es88s
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
Send your donation
To make a direct donation in Litecoin send LTC to the address below.
M8WsuTTdnbTkb3DPJFmzE3iefXDYkgNdq M8WsuTTdnbTkb3DPJFmzE3iefXDYkgNdq
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
Send your donation
To make a direct donation in Litecoin send LTC to the address below.
M8WsuTTdnbTkb3DPJFmzE3iefXDYkgNdq M8WsuTTdnbTkb3DPJFmzE3iefXDYkgNdq
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
Send your donation
To make a direct donation in Filecoin send FIL to the address below.
f1nitkcsb5eon7agkjxl3irfmkkljm7wtbo7e4osq f1nitkcsb5eon7agkjxl3irfmkkljm7wtbo7e4osq
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
Send your donation
To make a direct donation in Filecoin send FIL to the address below.
f1nitkcsb5eon7agkjxl3irfmkkljm7wtbo7e4osq f1nitkcsb5eon7agkjxl3irfmkkljm7wtbo7e4osq
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
Send your donation
To make a direct donation in Zcash send ZEC to the address below.
t1XFGudFg5Hx1uQjFfU8oZ9P97ZdMtffxfK t1XFGudFg5Hx1uQjFfU8oZ9P97ZdMtffxfK
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
Send your donation
To make a direct donation in Zcash send ZEC to the address below.
t1XFGudFg5Hx1uQjFfU8oZ9P97ZdMtffxfK t1XFGudFg5Hx1uQjFfU8oZ9P97ZdMtffxfK
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
Send your donation
To make a direct donation in Ethereum send RTH to the address below.
0xa6E72617C51581D25F04151F156d913988d6cAcF 0xa6E72617C51581D25F04151F156d913988d6cAcF
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
Send your donation
To make a direct donation in Ethereum send RTH to the address below.
0xa6E72617C51581D25F04151F156d913988d6cAcF 0xa6E72617C51581D25F04151F156d913988d6cAcF
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
Send your donation
To make a direct donation in Ripple send XRP to the address below.
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
XRP Address:
rw2ciyaNshpHe7bCHo4bRWq6pqqynnWKQg rw2ciyaNshpHe7bCHo4bRWq6pqqynnWKQg
XRP Tag:
914351319 914351319
Send your donation
To make a direct donation in Ripple send XRP to the address below.
XRP Address:
rw2ciyaNshpHe7bCHo4bRWq6pqqynnWKQg rw2ciyaNshpHe7bCHo4bRWq6pqqynnWKQg
(function() { var qs,js,q,s,d=document, gi=d.getElementById, ce=d.createElement, gt=d.getElementsByTagName, id="typef_orm_share", b="https://embed.typeform.com/"; if(!gi.call(d,id)){ js=ce.call(d,"script"); js.id=id; js.src=b+"embed.js"; q=gt.call(d,"script")[0]; q.parentNode.insertBefore(js,q) } })()
XRP Tag:
914351319 914351319