Help Conduct Charity Raffle!

Click Here to view this listing on Prosper
Listing Information
Amount: $25,000.00 Status: Loan created
Grade: AA DTI: 21%
Lender Rate: 14% Borrower: JSharaba
Time Left: Finished State: CA
Funded: 100% Group: (No Group)
Loan Information
Loan Status: Default Origination Date: 2006-11-01 EricsCC ROI: -69%
Status History
Dec 04, 2006 Current
Apr 16, 2007 Late
May 03, 2007 1 month late
Jun 03, 2007 2 months late
Jul 02, 2007 3 months late
Aug 02, 2007 4+ months late
Feb 18, 2008 Default
Mar 06, 2008 Repurchased
Jun 10, 2008 Default

     I am the other Co-Executive Director of the non-profit organization, International Aid for Russian Orphans, Inc (IARO, Inc.). We are a 501(c)(3) non-profit charitable corporation registered in the state of California. Our mission is to provide medical, educational and charitable aid to orphans and orphanages throughout Russia. We also provide financial assistance to United States citizens whose intent it is to adopt Russian orphans and bring them back to America to raise as part of their family.

     IARO, Inc. works in coordination with international charitable organizations to ensure that the proper care and aid is delivered to those most in need, as well as to easing the burden of as many Russian orphans as humanly possible. We also work with licensed adoption agencies throughout the United States to help with the adoption process and to qualify prospective adopting families.

     Currently, we are in the process of conducting a charity raffle to raise funds for our organization and have completed 95% of our pre-raffle, including:

  • designing a website (http://www.IAROInc.org)
  • printing raffle tickets
  • obtaining a US Postal Service mail permit for non-profits giving us a lower postage rate
  • obtaining a merchant account to process credit cards
  • conducting a direct mail campaign, sending out 12,500 raffle announcements

     The newly borrowed funds will be used to conduct a tri-state (AZ, CA, NV) newspaper advertising campaign. We feel this approach, combined with our direct mail campaign, will allow us to achieve our goal of selling out our remaining tickets in order to conduct the raffle before Christmas, 2006.

     We will, however, continue to make payments on the borrowed funds for at least 18 months, and most likely for the full term, so that those of you who are generous enough to grant a loan to us can earn your desired rate of return.

     I encourage you to go to our website (www.IAROInc.org) and view the details of the raffle, as well as view our Federal Tax Exemption, our Registration with the Attorney General of California?s office of Charitable Trusts, and our permit to conduct raffles in the state of California. All of these can be found on our ?About IARO? page.

      I thank you very much for your time, for your help and for your consideration.

Vision without money means heartache. Vision with money means achievement. Please help us to achieve. 

Discussion For This Listing
Sun, April 15, 2007
Hmmm.... Wants to set up a raffle to make $ for Russian Orphans. I probably should have thought more about that one before I put in $200. Now he's another AA with late payments on Prosper. To be honest, I think I'm going to avoid borrowers with AA credit on Prosper. There's too much sketchy stuff going on...
Wed, May 9, 2007
I was a little leery of this loan - I too should have thought better of it...
A quote from the listing:
"We will, however, continue to make payments on the borrowed funds for at least 18 months, and most likely for the full term, so that those of you who are generous enough to grant a loan to us can earn your desired rate of return."

18 months??? They didn't even make it 6 months...and then what? Were they planning on going awol after 18 months anyway?
Post A Comment
You must be logged in to post comments on listings. Not yet a member? register here