Much of the third world lives under the daily oppression of loan sharks and those who would take advantage of the poor and desperate. International Missionary Network strives to eradicate loan sharks by providing an alternative avenue for hard-working villagers willing to work together in community in order to lift their entire village out of poverty.
Founded by Cosmo and Sarah Zimik, IMN’s first project was among Cosmo’s own people—the Naga of Northeast India. In 2011, IMN built the Chi Chin MK Academy—a school open to all the local children, including Nepali refugees and others unable to pay for uniforms or books.
Because of the negative associations with loans, IMN does not operate via micro-loans. Instead, we create business partnerships with participating villages. Upfront, IMN provides the village individuals in charge of the specific project with the money necessary. We provide them with any and all networking and training. If debt is owed to loan sharks, we pay off this debt.
The benefactors/partners of the project keep 90% of gross profits while returning 10% of gross profits to the Morung Project for the first five years. After five years, the village owns the business outright as specified in the contract. If at any point, the benefactors/partners of the project violate the terms of agreement the business is reclaimed by IMN and allocated to the next waiting recipients.
IMN generates funds in two key methods.
- Crowd-funded donations
- 10% returns from all current projects
Because of these dual revenue streams, we are able to use 100% of all crowd funded donations directly for projects. All overhead is covered by the 10% returns from current projects. These revenue streams also guarantee IMN is able to continue to expand exponentially. The more projects we successfully fund, the more money those projects create for new projects. We promise to launch projects as fast as we can fund them. Crowd sourced money will go out for its intended project the moment the total amount is raised. Instantly, we will begin fund raising for the next project.
All money raised for IMN via crowd funding on our website is 100% donations and is therefore completely tax deductible. IMN is a 503c nonprofit.
IMN is committed to maintaining as small of an operating budget as possible. We require all employees and volunteers to strive toward personal sustainability so they can donate their money to the ministry rather than being paid by the ministry. All board members donate 10% or more to IMN. We depend on local partners who live as integrated members of our target villages. If you currently live or have lived in the third world and wish to coordinate and launch new projects, please contact us via this website. It is our desire to be an open book and assist others in opening regional IMN Project field offices throughout the third world.
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