The Chronicle of Philanthropy published a thought-provoking article a little while back about the cultural context of money. Our question: how does your culture impact your perspective on money, particularly in terms of giving it? And how does your culture impact your giving in other ways (time, talent, goods, etc)?

"Understanding How Money Works In Different Cultures"

“May I interest you in a susu account or would you like to hear about Sharia-compliant lending?”

Those kinds of solicitations are not something many of us in the nonprofit world hear very often—or would understand.

But if we are in the business of investing, lending, or giving in diverse communities, we must do better at increasing our understanding of how culture matters in the handling of money.

After all, many of the inequities that philanthropy seeks to eliminate are rooted in cultural bias—and many of the opportunities for change are rooted in cultural awareness.

For example, those who work with African or Caribbean communities should know that susu collectors are popular in these cultures, and they made the idea of giving small loans popular long before microfinance became trendy. And if we work with Muslim communities, we must understand that Islamic law, known as Sharia, prohibits the acceptance or payment of interest fees on
loans.

But it takes a lot more than knowing such terms. We must become familiar with the cultural influences that affect how people and institutions aggregate, deploy, and discuss money...

Read the full article

Speaking of money, there are some folks who have found away around the whole concept. You may remember our guest post earlier this year from Krysta Gougler, about a time bank in the Triangle. You can learn more about this time bank, and the idea behind it, in a recent Philanthropy Journal article:

"Time Bank Creates Community Volunteers"

DURHAM, N.C. - As a member of the Triangle-area Time Bank, Needham Bryan recently cashed in an hour of time served to receive a home-cooked meal.

He earned the right to that service by taking the trash and recycling to and from the street on pick-up day for Sharon Youse, whose knee problems make it difficult to tackle that chore herself.

Bryan is one of more than half the members of the Time Bank who have a developmental disability, and the opportunity to participate not only has helped him get free services he needs, but to help make life better for someone else.

"Everyone has something of value to share with the community," says Krysta Gougler, program coordinator for First In Families of North Carolina, which runs the Time Bank and works on behalf of people with developmental disabilities and traumatic brain injuries.

"These people are often seen as receivers, not givers," she says. "But everyone has something to give."

And for Youse, who does not have a disability, the payoff goes beyond saving her sore knees.

"It's really geared toward community building," she says. "It's a system for building interdependence. It exposes us to our neighbors and expands the concept of what community is..."

Read the full aticle