July/August 1997 Issue

Where did the $3 billion go?

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OPIC is a federal agency that helps U.S. companies invest in developing overseas markets. OPIC chooses from among plans submitted by companies and private investors and finances $3 billion worth of opportunities that don’t exist in the regular marketplace, such as providing insurance against political risks or loans for risky, long-term projects. OPIC matches its “private” funds 2-to-1 and often insures the investments against loss. The funds generate a huge profit for OPIC — $209 million last year — and their lucky investors. But these private funds like to remain just that — private.


Our search for the NEWBRIDGE ANDEAN fund led to a Mail Boxes Etc. store. When we asked for “Suite 410,” a clerk showed us a mailbox.


WESTSPHERE EQUITY INVESTORS manages a fund that is only for “sophisticated” investors.


The GLOBAL ENVIRONMENT EMERGING MARKETS FUND II is open to anyone able to cough up a minimum investment of $2 million.


We found the POLAND PARTNERS MANAGEMENT CO. fund at the law firm Landon Butler. The fund’s investors include the AFL-CIO.

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WE CAME UP SHORT.

We just wrapped up a shorter-than-normal, urgent-as-ever fundraising drive and we came up about $45,000 short of our $300,000 goal.

That means we're going to have upwards of $350,000, maybe more, to raise in online donations between now and June 30, when our fiscal year ends and we have to get to break-even. And even though there's zero cushion to miss the mark, we won't be all that in your face about our fundraising again until June.

So we urgently need this specific ask, what you're reading right now, to start bringing in more donations than it ever has. The reality, for these next few months and next few years, is that we have to start finding ways to grow our online supporter base in a big way—and we're optimistic we can keep making real headway by being real with you about this.

Because the bottom line: Corporations and powerful people with deep pockets will never sustain the type of journalism Mother Jones exists to do. The only investors who won’t let independent, investigative journalism down are the people who actually care about its future—you.

And we hope you might consider pitching in before moving on to whatever it is you're about to do next. We really need to see if we'll be able to raise more with this real estate on a daily basis than we have been, so we're hoping to see a promising start.

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