Whole Planet Foundation

General Questions about Whole Planet Foundation

What is Whole Planet Foundation?

Whole Planet Foundation is a nonprofit 501(c)(3) organization dedicated to combating poverty in developing countries by improving the economic well-being of the poor through the use of microcredit and other innovative financial instruments.

Why did you create it?

Whole Planet Foundation was born out of Whole Foods Market's desire to give something back to those who have helped us succeed in the marketplace while simultaneously addressing the persistent problem of world poverty and hunger. We are focusing our efforts on those villages and rural communities that supply our stores with products such as tropical fruit, vegetables, tea, and coffee. Giving the poor in these communities access to credit through microloans will enable them to escape the vicious cycle of poverty by allowing them to use their own energy and creativity to help themselves.

Do the borrowers have to supply a product to Whole Foods Market?

No. We are focusing our efforts on the villages from which we receive products in order to help the entire community. The borrower does not need to work for a vendor of Whole Foods Market products. Also, the self-employment project they choose to fund with their microloan is not expected to create a product for Whole Foods Market. Just as our stores have an impact on their communities to the benefit of all area residents (not just shoppers); we designed Whole Planet Foundation to have an impact on the whole community.

Who actually runs your microlending programs?

Our microlending programs are run by our Implementing Partners which are usually Microfinance Institutions (MFIs) that receive grants from Whole Planet Foundation.

Where will your projects be located?

In 2006, we began our work with a concentration on Central America implementing projects in countries including Costa Rica, Guatemala, Honduras and Nicaragua. Communities in these countries provide Whole Foods Market with bananas, pineapples and coffee. As of April 2013, Whole Planet Foundation is funding poverty alleviation in 57 countries worldwide.

Is the money being repaid to Whole Planet Foundation?

No. Whole Planet Foundation provides grants to MFIs (Microfinance Institutions) who then manage the loan programs. All funds - principal and interest - remain in the borrower's community to generate additional microloans and further improve that community's economic health.

How is Whole Planet Foundation funded?

All operating costs for the Foundation are funded by Whole Foods Market. Funding for microlending programs is provided through the generosity of Whole Foods Market shoppers, suppliers, team members, online donors and a portion of Whole Trade Guarantee product sales.

How can I get involved with Whole Planet Foundation?

Visit our Get Involved page.

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Questions about Microfinance

What are MFIs?

An MFI is a microfinance institution. See "What is a microfinance institution?"

What is a microfinance institution?

A microfinance institution (MFI) is an organization that provides financial services targeted to the poor. While every MFI is different, all share the common characteristic of providing financial services to a clientele poorer and more vulnerable than traditional bank clients.
Source: International Year of Microcredit 2005

What is a microlending program?

A microlending program is just a way to summarize all the activities surrounding programs that focus on providing microloans to borrowers.

What are microloans?

Microloans are small loans - usually $200 or less - requiring no collateral or contract. They are offered to the poorest of the poor, with a focus on women, to finance self-employment projects that will generate income and allow them to escape poverty so that they can provide food and shelter for themselves and their families. Microcredit was developed by a number of pioneers, including Muhammad Yunus in Bangladesh and Accion International in Brazil.

What is a microentrepreneur?

A person who owns a small-scale business is known as a microentrepreneur. These businesses usually employ less than 5 people and can be based out of the home. They can provide the sole source of family income or supplement other forms of income.
Source: International Year of Microcredit 2005

What kind of businesses are started by a microentrepreneur?

Typical microentrepreneur activities include retail kiosks, sewing workshops, carpentry shops and market stalls.
Source: International Year of Microcredit 2005

Why focus on women as borrowers?

For economies to grow and prosper, women must be included at every level. This is especially true in most developing countries where women make up the majority of the poor, the underemployed, and the economically and socially marginalized. Research has shown that women tend to invest the money they earn in their families, education, and homes which, over time, stabilizes and strengthens both the social and economic facets of their communities.

Are the borrowers able to repay their loans?

Based on 2007 data loan recovery rates usually range between 93% to 98% percent repayment rates. In addition to the borrowers' self-motivation, microcredit methodology ensures success by teaching problem solving in borrower support groups and by providing comprehensive client support services.

Why do the loans include interest?

The inclusion of interest is necessary to create a self-funding, sustainable, and viable loan program that will continue to generate more capital so more people can have access to credit. Interest is charged at lower rates than borrowers would typically receive from usurers or money lenders who charge exorbitant rates in lieu of collateral or to take advantage of the borrower's inability to obtain credit from traditional sources.

What is the Grameen Trust and how does it work?

While the Grameen Bank operates programs inside Bangladesh, the Grameen Trust is a division created to manage microcredit projects outside the borders of Bangladesh. Its sole purpose is to provide the poor with access to credit to generate self employment, otherwise called microenterprises. Unlike traditional bank loans, no collateral or legal contract is required. A borrower joins or enlists others in a group of five borrowers, which serves as a support system. Responsibility for repayment rests solely with the individual borrower. Repayment, including interest, is made easy through small payments.

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Questions from Donors, Supporters and Partners

How can shoppers contribute to Whole Planet Foundation?

The Prosperity Campaign offer an annual opportunity for shoppers to donate at check-out and participate in events supporting Whole Planet Foundation.

What is the Prosperity Campaign?

A national Whole Foods Market campaign benefitting Whole Planet Foundation. Shoppers can donate at check-out and participate in events supporting our mission. Since 2007, shoppers have donated over $15 million for microlending programs.

What is the Team Member Giving Program?

Team Members give to the Foundation through a paycheck deduction program.

What is the WPF Endowment Fund?

Is a fund set aside to help the Foundation gain financial security over time. Typically, the only funds spent from an endowment fund would be interest earned on principal.

What are your Implementing Partners?

Implementing Partners are usually Microfinance Institutions (MFI's) that receive grants from Whole Planet Foundation to establish and run microlending programs. In some cases, Whole Planet Foundation funds or contributes to the loan pool of an existing MFI.

What are your Collaborating Partners?

Collaborating Partners are organizations that maximize our reach, intellectual capacity and effectiveness through technical support, fundraising support or communicating our mission with Whole Foods Market team members, customers and the general public.

Who are your Collaborating Partners?

Visit our Collaborating Partners page.

What is the Supplier Alliance for Microcredit?

The Supplier Alliance for Microcredit partners are partners who are currently vendors to Whole Foods Market and share a desire to change the world, one entrepreneur at a time. They are committed to supporting the mission of the Foundation. Whole Planet Foundation and our vendor partners are striving to increase education and awareness of global poverty through in-store promotions and other campaigns. It is our desire to align programmatic goals of vendor partners and Whole Planet Foundation for significant impact around the world.

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Questions about the Team Member Volunteer Program

Why did Whole Foods Market create this program?

To engage Team Members in our Core Values in action. The mission of Whole Planet Foundation is to fund poverty alleviation through microcredit in communities around the globe that supply Whole Foods Market stores with product, with a focus on the developing world. This program connects Team Members directly to creating prosperity and our Core Value "Caring About Our Communities and Our Environment".

For More Information about the Team Member Volunteer Program, please see the Team Member Volunteer Program page.

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