COFFEE HOUR AT THE COMMONS
  • Home
  • About
  • Episodes
    • Season 1 >
      • Episode 0
      • Episode 1
      • Episode 2
      • Episode 3
      • Episode 4
      • Episode 5
      • Episode 6
      • Episode 7
      • Episode 8
      • Episode 9
      • Episode 10
      • Episode 11
      • Episode 12
      • Episode 13
      • Episode 14
      • Episode 15
    • Season 2 >
      • Episode 16
      • Episode 17
      • Episode 18
      • Episode 19
      • Episode 20
      • Episode 21
      • Episode 22
      • Episode 23
      • Episode 24
      • Episode 25
      • Episode 26
      • Episode 27
      • Episode 28
      • Episode 29
    • Season 3 >
      • Episode 30
      • Episode 31
      • Episode 32
      • Episode 33
      • Episode 34
      • Episode 35
      • Episode 36
      • Episode 37
      • Episode 38
      • Episode 39
      • Episode 40
      • Episode 41
      • Episode 42
      • Episode 43
      • Episode 44
    • Season 4 >
      • Episode 45
      • Episode 46
      • Episode 47
      • Episode 48
      • Episode 49
      • Episode 50
      • Episode 51
      • Episode 52
      • Episode 53
      • Episode 54
      • Episode 55
      • Episode 56
      • Episode 57
      • Episode 58
    • Season 5 >
      • Episode 59
      • Episode 60
      • Episode 61
      • Episode 62
      • Episode 63
      • Episode 64
      • Episode 65
      • Episode 66
      • Episode 67
      • Episode 68
      • Episode 69
      • Episode 70
      • Episode 71
      • Episode 72
    • Season 6 >
      • Episode 73
      • Episode 74
      • Episode 75
      • Episode 76
      • Episode 77
      • Episode 78
      • Episode 79
      • Episode 80
      • Episode 81
      • Episode 82
    • Season 7 >
      • Episode 83
      • Episode 84
      • Episode 85
      • Episode 86
      • Episode 87
      • Episode 88
  • Contact

Episode 31: Money + Faith = Impact; Conversation with Rich Stein 

Today we're having a conversation with Rich Stein about the Global Philanthropy Leaders (GPL) initiative that works in churches with small groups of motivated, reliable, and curious youth to help them make microloans to those who wouldn't otherwise have access to capital. 
​

Rich lives in Sandy Hook, Connecticut with his wife and they are members of St. Stephen's Episcopal Church in Ridgefield.

​Rich is a co-founder of the GPL initiative, along with St. Stephen's rector the Rev. Whitney Altopp and their youth coordinator, Jane Lindenberg. 
Picture
Rich has worked as a private investor for the past two decades. He has a BA in Economics from the University of Chicago and an MBA in Marketing & Strategy from the Kellogg Graduate School of Management of Northwestern University. In addition to being a member of St. Stephen's he now chairs their investment committee, and he also serves on the board of trustees for the investment funds of the Episcopal Church of Connecticut, or ECCT. Rich joined us by phone, from Chicago.

We began by trying to understand what GPL is all about.  (It is NOT related to the free software license also called GPL!!) “It’s about offering youth the opportunity to make a tangible difference in  people’s lives half a world away by making microloans to help [them] start or expand a business ... “ he said. They’re also learning how faith helps them inform those decisions. 

We got into some of the details of how it works. He talked about what he’s looking for in the young people – high schoolers - who are selected to be part of the initiative, and teaching the guidelines for making the microloans. He later shared that each youth receives $200 to make the loans and is asked to add $25 of their own money. 

We also talked about what constitutes a microloan and he provided the example of a farmer who wants to buy a cow for $500 – a huge amount to the farmer, but too small for a bank. And there’s no collateral. Rich explained microfinance work. He works through Kiva, an international nonprofit, and said available loans are listed on the Kiva website. That’s where the GPL youth leaders find their opportunities. 

While Rich teaches some of the guidelines and practices that have helped him over the years in making microloans, St. Stephen’s rector wanted to add an explicit component for faith. They incorporate the practice of “Dwelling in the Word” of scripture at their meetings.

Whether we like it or not, money is an exchange of value, Rich said, so we have to be willing to discuss money on a spiritually mature basis. 
Rich said the initiative has already spread from St. Stephen’s, Ridgefield to St. John’s, Bridgeport and Saint Luke’s, Darien. To expand further, GPL recently applied for and received a grant for $11,000 from ECCT’s Sustainability Development Fund,which addresses any of the 17 U.N. Sustainability goals (microloans address 13 of 17). The idea is to find additional parishes that want to host a GPL initiative and are willing to match a grant of $1000 with $1000 of their own.  
​
Toward the end of our podcast, Rich explained how he got into microfinance, and how his involvement in microfinance as a spiritual practice. He appreciates that he’s been able to help some of the youth not only learn about economics and microfinance, and to see how it intersects with their faith.
On February 9, 2019, from 1-2 p.m.,  following the Southwest Region Convocation at St. Matthew’s, Wilton, Rich will do a “Come and See” presentation about what it would take to start a GPL initiative at their parish. More info here.

You can find this episode and others on our website coffeehour.org. Be sure to like us on Facebook, and give us a follow on Instagram and Twitter. ​

In Christ and Coffee,
Karin & Alli

SUBSCRIBE:

SPOTIFY
apple podcast
PODBEAN
RSS feed
STITCHER
​
@coffeehourpod
© COPYRIGHT 2020 ​ALL RIGHTS RESERVED.
  • Home
  • About
  • Episodes
    • Season 1 >
      • Episode 0
      • Episode 1
      • Episode 2
      • Episode 3
      • Episode 4
      • Episode 5
      • Episode 6
      • Episode 7
      • Episode 8
      • Episode 9
      • Episode 10
      • Episode 11
      • Episode 12
      • Episode 13
      • Episode 14
      • Episode 15
    • Season 2 >
      • Episode 16
      • Episode 17
      • Episode 18
      • Episode 19
      • Episode 20
      • Episode 21
      • Episode 22
      • Episode 23
      • Episode 24
      • Episode 25
      • Episode 26
      • Episode 27
      • Episode 28
      • Episode 29
    • Season 3 >
      • Episode 30
      • Episode 31
      • Episode 32
      • Episode 33
      • Episode 34
      • Episode 35
      • Episode 36
      • Episode 37
      • Episode 38
      • Episode 39
      • Episode 40
      • Episode 41
      • Episode 42
      • Episode 43
      • Episode 44
    • Season 4 >
      • Episode 45
      • Episode 46
      • Episode 47
      • Episode 48
      • Episode 49
      • Episode 50
      • Episode 51
      • Episode 52
      • Episode 53
      • Episode 54
      • Episode 55
      • Episode 56
      • Episode 57
      • Episode 58
    • Season 5 >
      • Episode 59
      • Episode 60
      • Episode 61
      • Episode 62
      • Episode 63
      • Episode 64
      • Episode 65
      • Episode 66
      • Episode 67
      • Episode 68
      • Episode 69
      • Episode 70
      • Episode 71
      • Episode 72
    • Season 6 >
      • Episode 73
      • Episode 74
      • Episode 75
      • Episode 76
      • Episode 77
      • Episode 78
      • Episode 79
      • Episode 80
      • Episode 81
      • Episode 82
    • Season 7 >
      • Episode 83
      • Episode 84
      • Episode 85
      • Episode 86
      • Episode 87
      • Episode 88
  • Contact