Commitment. Resilience. Results. · 2014. 2. 15. · non bank financial institution, provides our financial services. These Haitian organizations are joined by Fonkoze USA, a U.S

Commitment. Resilience. Results.

Fonkoze Family 2012

Social impact RepoRt

annual RepoRt

2 FONKOZE FAMILY 2012 ANNUAL REPORT

Contents1 Introduction

FONKOZE’S STAIRCASE OUT OF POVERTY2 Chemen Lavi Miyò

3 Ti Kredi Solidarity

4 Business Development

5 Education Health

OTHER FINANCIAL SERVICES6 SME Lending

Zafèn Youth Savings and Credit Pilot

7 Savings Services Transfer Services Microinsurance Services

RESULTS8 Social Impact Monitoring Results

FINANCIAL INFORMATION10 Overview

11 Fonkoze S.A. and Sèvis Finansye Fonkoze

12 Fondasyon Kole Zepòl

13 Fonkoze USA

14 Honoring Our 2012 Donors and Investors

17 2012 Fonkoze Leadership and Fonkoze Branch Network

OUR MISSIONFonkoze’s mission is to provide the financial and non-financial tools Haitians—primarily women—need to lift their families out of poverty.

Fonkoze is a fully-certified user of the Grameen Foundation Progress out of Poverty Index® (PPI®). Our use of the PPI has been validated in all three categories of certification: basic, advanced and tracking over time.

Fanm o, nou se wozo, nou se wozo, se wozo nou ye.

This triumphant refrain—“women, we are reeds”—fills Fonkoze meetings throughout

Haiti. Whether our clients gather in a friend’s home, under a tree, or in a Fonkoze branch, their voices lift in song, proclaiming their resilience.

Like wozo, irrepressible reeds that grow beside Haitian rivers, Fonkoze women persevere despite impossible conditions. They do not break in the face of obstacles. They bend, only to straighten themselves in preparation for the next challenge.

Yet even these strong and resilient women encounter challenges that prevent their progress. Personal problems, health issues, and environmental obstacles make our clients’ climb up Fonkoze’s Staircase Out of Poverty a precarious one.

In this report, you will discover how Fonkoze is committed to strengthening the core steps of our Staircase Out of Poverty and building resilience for both our clients and our institution.

Fonkoze is Haiti’s largest microfinance institution. Our mission is to provide Haitians—primarily women—with the financial and non-financial tools they need to lift their families out of poverty. We work in every area of Haiti, reaching the country’s poorest and most remote regions, to serve more than 200,000 savings clients with a full range of financial services and more than 60,000 women with microloans and—where we can—business training, education, and preventative and promotional health care services. Our founding organization, from which we get our name, is Fondasyon Kole Zepòl (“Shoulder to Shoulder Foundation”)

and provides our development services, while Sèvis Finansye Fonkoze (SFF), a non bank financial institution, provides our financial services. These Haitian organizations are joined by Fonkoze USA, a U.S. nonprofit that supports Fonkoze’s work in Haiti by raising funds and awareness, to form the Fonkoze family—or, simply, Fonkoze.

Unique for our identity as a Haitian institution providing both financial and development services, Fonkoze received international recognition in 2012 for the innovative programs that make up our Staircase Out of Poverty. Notably, Global Journal ranked Fonkoze #33 out of its top 450 organizations working locally, nationally, and internationally.

Our most important achievements, of course, remain with the women we serve. In 2012, your support as our committed partners and donors enabled us to provide all our clients with disaster preparedness training, to expand our Chemen Lavi Miyò program that enables ultra-poor women to transform their lives, and to continue to innovate on behalf of Haiti’s rural poor with new health- and youth-oriented initiatives. See our Results (p. 8–9) for an in-depth look at the impact our programs have had on our members.

As we innovate on behalf of our clients, however, we also encounter challenges. Our natural catastrophe microinsurance pilot, Kore W, was

a post-2010-earthquake effort to assist our clients in protecting their hard-earned gains from disasters. In 2012, Fonkoze served 28,000 clients with Kore W payouts related to natural disasters, but difficulties with the pilot’s structure contributed to significant operating losses (see p. 7).

With the help of our partners and supporters, we have recovered portions of those losses. But hard work remains. We look forward to your continued support as we come together, with commitment and resilience, to build a stronger future for our institution and our clients.

Next year, Fonkoze will celebrate our 20th anniversary. As we prepare to close a chapter on our first twenty years as an institution and look toward the future, we receive inspiration from our clients’ rallying cry:

Le lapli a tonbe, nou bonjounnen. “When the rain falls, we grow.”

Commitment. Resilience. Results.

FONKOZE FAMILY 2012 ANNUAL REPORT 1

A Solidarity client trained as an Alfa monitor instructs a Business Skills class outside Jakmèl.


Fonkoze’s Staircase Out of Pov-erty provides a comprehensive approach to poverty alleviation in Haiti. Each of its four steps is uniquely designed to provide a

woman with the resources and support that she needs to ascend from poverty, wherever she is in her climb.

Along with the four main steps, Fonkoze’s Staircase includes education and health services to support our clients as they progress. We are striving to find the resources to ensure all our clients receive the full package of services, designed to reinforce their hard work as they climb the Staircase and create a better future for themselves and their families.

Step One: chemen lavi miyòChemen Lavi Miyò ( “the pathway to a better life”) is the first step on Fonkoze’s

Staircase Out of Poverty, and reaches some of the most impoverished women in the Western Hemisphere. In 2012, Chemen Lavi Miyò (CLM) enabled 1,000 women to pull themselves from ultra-poverty into self-sufficiency, with hope and vision for their futures.

Developed from the Graduation model instituted by BRAC, a Bangladeshi NGO, CLM lifts up women living on the very margins of rural society, in some of the most extreme poverty in Haiti.

With the support of dedicated case managers, who travel hours by foot to reach some of the most remote members, 96% of participants successfully complete the program. The graduation certificates the women proudly receive signify a series of major accomplishments. At the end of the intensive 18-month program, they

Fonkoze’s Staircase Out of Poverty

When Bebe Geffrard was selected for Fonkoze’s Chemen Lavi Miyò (CLM) program, she lived with her eight children and eight grandchildren in a decaying hut in Viyèt, an extremely poor agricultural region in northern Boukankarè.

She had a tiny plot of her own land—but it was not enough to farm sustainably. She farmed additional land as a sharecropper to try to make ends meet, but had to give one-third to one-half of every harvest to the landowner, making it impossible to get ahead. Her grandchildren were not in school, and the whole family suffered from persistent hunger.

Because Bebe’s family was so large, she qualified to receive a cow as one of her income-generating assets provided by Fonkoze. She took great care of it, and it gave birth to a healthy calf, which she sold to buy the land that she had previously worked as a sharecropper.

Bebe Geffrard CLM GRAdUATE MOVES FORwARd wITH HOPE

Bebe Geffrard is one of 1,000 women who successfully completed the CLM program in 2012, establishing a stable income and secure life for herself and her family.

COntinued, PAGe 3

have adequate shelter and sanitation, the ability to feed their families every day and provide clean drinking water, and send all of their children to school. Not least of all, their own self-image is transformed. As CLM graduate Rose-Marie Assenne said, “The person I was yesterday, I am not the same person any longer.”

Our CLM team is dedicated to spreading the message throughout Haiti: eliminating extreme rural poverty is possible. In 2012, the CLM program continued to provide training to other groups interested in a similar targeted approach to helping women lift themselves out of extreme poverty. Given the resources and encouragement to get a foothold on the first step of Fonkoze’s Staircase out of Poverty, Haiti’s ultra-poor women will use their commitment and resilience to lift

themselves and their families out of extreme poverty.

Step two: ti krediThe second step on Fonkoze’s Staircase Out of Poverty is Ti Kredi (“little credit”). This innovative microfinance program empowers some of Haiti’s most personally and financially vulnerable women through a six-month program featuring small loans, quick repayment cycles, and education and support at weekly meetings. To target Ti Kredi clients, Fonkoze uses participatory wealth ranking, a process that enlists the local community to help identify its most vulnerable members.

“Fonkoze encourages us ti machann [market women] who don’t have anything at all,” says Ti Kredi client Hirane Bastien, who uses the increased profits from her Ti Kredi-funded small business to buy drinking water and nutritious food for her three-year-old son.

In 2012, Fonkoze enabled over 4,000 Ti Kredi clients to gain business skills and use Fonkoze loans to expand their microenterprises. After completing the six-month program, 92% of Ti Kredi clients continued into Solidarity lending, the third step on the Staircase Out of Poverty.

Given the impact Ti Kredi has on the lives of Haiti’s most vulnerable women, as well as the stability the program provides by developing strong, dependable loan clients for Fonkoze, we are working to empower

tens of thousands more ti machann to build better, more secure lives for themselves and their families. In 2013, with the support of our generous donors, Fonkoze will double the number of branches offering the Ti Kredi program to more than 30 branches, which will enable us to triple the number of women we serve.

Step three: Solidarity lendingOften called the “heart” of Fonkoze lending—and the third step on our Staircase—Solidarity remains Fonkoze’s largest and longest-running microfinance program. Its community-based approach offers joint loans to Solidarity groups of five women. Five or six Solidarity groups from a common geographical area join together to form a Solidarity “Center” of 25–30 women. Centers meet twice a month to repay their loans, build community, and participate in education and training activities like Fonkoze’s Ti Koze program.

Ti Koze (“little chat”) provides all clients with basic life skills instruction, including disaster risk reduction and


Now, the entire harvest belongs to Bebe. With milk from the cow and more food to go around, the children are healthier than they have ever been. Her cow has also given birth to a second calf, giving her an even larger asset base.

In addition to her cow, Bebe also received two goats as her second asset provided by CLM. The first sales of the goats’ offspring enabled her to buy a horse, a major asset for her farming work. She has used further sales to invest in her farming, buying seed, fertilizer, and tools as she needs them.

While farming and livestock production remain her primary activities, Bebe uses income from her crop of pigeon peas each November to fund a seasonal side commerce during the off-season. Applying the business skills she learned from her CLM case manager, Bebe uses her commerce to provide for her family until farming season returns in the spring.

In July 2012, Bebe celebrated her successful completion of 18 months of hard work and training. She graduated from the CLM program.

Her life is different now.Her family no longer goes hungry, the younger

children are in school, and they live in a well-built house with a solid tin roof.

And Bebe and her family keep moving forward.A third calf is on the way, which she plans to use to

buy more land. She has her eye on a small plot down the hill from her home, along a small stream. The flowing water will allow her to irrigate, enabling her to farm beans, her main cash crop, much more reliably.

Bebe’s increased self-sufficiency is impressive. More impressive, though, is the way she has transformed herself into an analytical, forward-looking thinker. With CLM’s help, she has both learned to plan strategically and acquired the assets she needs to be successful. It’s a transformation that enables her to envision a brighter future for herself and her children.

COntinued FROM PAGe 2

When you have a business, you feel more proud of yourself. You feel like you have courage,” says ti Kredi client Hirane Bastien.


preventative health measures. In 2012, Ti Koze continued to further strengthen Solidarity clients’ sense of community and enable them to be better leaders, both at home and in the marketplace. Along with Fonkoze’s other education and health initiatives (see page 5), we are continuing to build the resilience of our Solidarity clients. In 2012, we served over 56,000 Solidarity clients and had a client retention rate of approximately 82%, moving further towards our goal of strengthening this critical part of our institution.

Step Four: Business developmentAt the top of Fonkoze’s Staircase Out of Poverty is our Business Development program. With 12-month loans beginning at $1,300, Business Development clients use

their increased loan capital and longer loan cycles to create thriving businesses. The Business Development program provides opportunities for Solidarity clients to move up the Staircase and expand their businesses. With loans available to men as well as women, it also provides established business owners who are not already clients of Fonkoze—such as agricultural cooperatives—with a way to find funding to continue to grow their businesses. Fonkoze’s Business Development loans help entrepreneurs generate essential economic activity and create jobs in rural areas throughout Haiti.

“Fonkoze helps people to progress,” Business Development client Augusta Charpentier says. “I started off low [in Solidarity lending], but now I’m saving more and more money.” Beginning with Solidarity loans of $75, Augusta now borrows sums as large as $1,750 to run a neighborhood food stand outside of Jakmèl. With her

profits, she and her husband are working to expand the house they built together.

In 2012, Fonkoze’s Business Development program enabled 425 clients like Augusta to act as economic leaders in their communities, forming the vital base for economic success in rural Haiti.

Business development client Augusta Charpentier

Walk into Vilson Jean-Baptiste’s outdoor classroom, and you immediately recognize a teacher who elevates her students’ learning. Her infectious energy has her students chiming in the moment she finishes explaining the lesson.

An Alfa (“literacy”) monitor since she joined Fonkoze’s Solidarity lending program in 2002, Vilson has a gift for engaging her fellow ti machann, market women and Fonkoze borrowers.

“A real community forms,” Vilson says of her class. “I am so happy to do this to help my [Solidarity] center advance.”

While Vilson’s class feels like a family, she also has an actual family member among her students—her mother. Jistina Victor first started the Alfa program last September, when she decided that she wanted to learn how to read and write.

“My daughter was a teacher, but I didn’t even know how to write my name,” Jistina says.

Jistina enrolled in the first class Fonkoze offers its adult women, Alfa bon, and has yet to slow down. After completing the six-month Alfa bon module, she has continued with Fonkoze’s Business Skills class, which helps participants think critically about their businesses and offers them basic training for managing their operations.

“[The class] is good for us for conducting business because it teaches us how to buy and resell

goods,” explains Jistina. She and her classmates learn basic concepts like profit margins that many ti machann do not consider when conducting their operations.

Both Vilson and Jistina joined Fonkoze eleven years ago to help them augment their businesses.

Jistina Victor and Vilson Jean-Baptiste MOTHER/dAUGHTER dUO BENEFIT FROM FONKOZE’S EdUCATION PROGRAM

Mother-daughter duo Jistina Victor and Vilson Jean-Baptiste are two of 10,960 women served by Fonkoze’s Alfa program in 2012. A certified instructor, Vilson teaches Business Skills to approximately 20 women, including her mother, Jistina.

COntinued, PAGe 5

participants, Business Skills was the most popular Alfa module, followed closely by the new Alfa bon (“good reading”) literacy module, which taught 3,078 clients how to read and write.

Fonkoze offered Alfa classes in approximately half of our branches in 2012. Our goal is to provide Alfa classes in all 46 of our branches, giving all clients access to both Ti Koze’s life skills training and Alfa’s more in-depth instruction.

HealthIn 2012, 11% of Fonkoze clients were forced to leave Fonkoze programs for health-related reasons. In an effort to prevent losing any client to health issues, Fonkoze sought to further strengthen our innovative health services in 2012. This included continuing our pilot program in Lenbe, serving nearly 1,300 clients with preventative health services and 1,700 clients with monthly health education sessions.

Thanks to training provided to all Lenbe Center chiefs, all Fonkoze clients in Lenbe received monthly health education in subjects like sexual health and infectious diseases. In addition, all interested clients paid $1 per month for preventative services from Fonkoze nurses based in the Lenbe branch. Dr. Wesly Elize explains the importance of including client buy-in: “The clients feel like they’re responsible for their own health. It gives them the opportunity to construct what they want, and it makes access to services sustainable.”

For an additional $1 a month, Fonkoze also provided curative services, complete with laboratory tests and prescription drugs as needed, for Fonkoze clients and up to three of their family members through our partner institution, Hôpital Saint Jean de Limbe.

Through financing from Global Partnerships—with the opportunity to scale up to all 46 Fonkoze branches—

SuppoRting SeRviceS

EducationOver 40% of Fonkoze’s Solidarity clients are illiterate when they join Fonkoze. To give them the skills they need to succeed, we offer two complementary education initiatives. All 56,464 Solidarity clients participate in a monthly life skills-oriented class called Ti Koze (“little chat”), which engages them in discussion and interaction. More specialized Alfa classes are also available, offering literacy and business skills, among other topics, led by specially trained Solidarity clients who already know how to read and write.

In 2012, the Alfa program served 10,960 participants, 99.5% of whom graduated successfully. With 3,995


Jistina sells alimentary products like peas and corn, which she buys locally and then sells in the market in Jakmel. Vilson sells clothes and household goods. Her small commerce, augmented by Fonkoze, enables her to pay for school for her five children, ranging in age from sixteen to two years old.

For Vilson, seeing her mom make progress is incredibly rewarding. When the classes began, Vilson says, “I felt good because she had the chance to come learn.”

While Jistina’s pride as she signs her name is evident, the results of Jistina’s progress do not stop there.

“Now my profits have helped me to buy a small cow,” Jistina says proudly. “Even if there are problems with the children, I can always find money.”

the pilot seeks to continue our long-standing commitment to providing more than loans to our clients. Our Health department’s other initiatives include a reading glasses micro-business project in partnership with Vision Springs; training, referral, and screening for malnutrition in partnership with Malzone Fund; and the distribution of vitamins through Vitamin Angels. In 2012, the vitamin distribution program served 122,869 beneficiaries with essential supplements, including multivitamins, vitamin A, de-worming pills, prenatal vitamins, and micronutrient powder for clients’ children.

distribution of Vitamin Products In 2012, Fonkoze continued its partnership with Vitamin Angels to distribute key vitamins to our clients and their families. By implementing a new system to manage the vitamin products more effectively, Fonkoze was able to serve 69,000 children and 1,701 pregnant and lactating women.

COntinued FROM PAGe 4

19,145

526

NUMBER OF CLIENTS SERVED

NUMBER DISTRIBUTEDIN 2012

1,701

69,000

69,000 90,245

6,892,380

306,180

Vitamin A

Multivitamins

Prenatal vitamins

Micronutrient Powder

*

* 6-month supplement distributed biannually


SME Lending

In working to create economic op-portunities for Haitians, Fonkoze has increasingly sought to fill a key gap: the small and medium enterprise (SME) sector. While

ti machann (“market women”) rep-resent the heart of Fonkoze lending, they cannot drive the type of growth necessary to generate jobs for a popula-tion struggling with an unemployment rate estimated to be between 40% and 70%. Fonkoze continues to address the need for more formal-sector jobs and increased private-sector investment with SME lending programs. Like any new endeavor, expansion into the SME sector has been a learning process. In 2012, Fonkoze shifted our focus to strengthening the SME lending pro-gram’s microfinance methodology and management capacity.

ZafènZafèn (“it’s our business”) provides loans to small and growing businesses with capital from donors and from an online crowd-funding platform (www.zafen.org). It was developed in 2010 as the result of a partnership between Fonkoze, DePaul University, the International Vincentian Family, and the Haitian Hometown Associations Resource Group. Zafèn targets the Haitian Diaspora and friends of Haiti abroad, giving them the opportunity to connect with Haitian business owners. In 2012, Zafèn disbursed soft loans to 300 Haitian SMEs.

In 2011, small business owner Arnold Baldé was approved for a $6,700 Zafen loan for his business producing peanut butter, chanm chanm (a popular snack of grounded roasted corn and peanuts), and other alimentary products. “With that

money, we grew eagle’s wings,” he proclaims. He has created 36 jobs and has a growing demand for his products, allowing him to repay his loan and keep his business growing.

Youth Savings and Credit PilotIn 2012, Fonkoze launched the pilot for an exciting new initiative: two complementary programs to provide Haitian youth with access to financial

Other Financial Services

epay Jèn participant Sonel Pétion, age 24, uses his savings account to manage his money while he studies juridical science at a university in Jakmèl.

services. The programs, Epay Jèn (youth savings) and Kredi Jèn (youth credit), provide savings and microfinance loans in a format modeled in part after Fonkoze’s successful Ti Kredi program, offering education services in addition to traditional financial services to young Haitians aged 14 to 24.

Geneviève Jean, a 21-year-old participant in the Epay Jèn program, says, “My business helps me pay for school and allows me to save money [to fulfill my] dream of attending nursing school.”

With the help of Fonkoze’s partners BRAC, Making Cents, and Plan Haiti, the Epay Jèn program has enabled 264 youth in our Jakmèl branch to open savings accounts and receive training on how to manage their money. We look forward to completing the pilot and determining how serving the financial needs of youth can become a sustainable component of achieving Fonkoze’s mission.

Savings ServicesFonkoze’s 46 branches cover every area of Haiti, serving a critical need for our 200,000-plus savings clients. Most rural Haitians lack access to a commercial bank or are unable to open an account due to minimum balance policies or account fees. Fonkoze’s savings services provide them with a much-needed opportunity to safeguard their money and earn interest. In addition, larger organizations such as community organizations and NGOs use Fonkoze’s extensive branch network to move cash throughout Haiti. As a condition for receiving microloans, all microfinance clients deposit 13% of their loan amount in a savings account. This policy not only protects Fonkoze from loan defaults, it enables clients to increase their secure financial assets and, as a result, safeguard their futures.

Transfer ServicesIn 2011, transfers and remittances accounted for approximately 21%

of Haiti’s GDP (World Bank Annual Remittance Inflows). Recognizing the importance of such money transfers for many of our clients, Fonkoze offers its clients access to remittances in all our branches by serving as an agent for established transfer companies in Haiti. In 2012, we processed over 250,000 money transfers, totaling over $86 million.

Microinsurance ServicesOur clients’ precarious position on the Staircase Out of Poverty makes them particularly vulnerable to external hardships. One of the ways Fonkoze tries to build their resilience is by partnering with insurance companies and other organizations to provide our clients with access to microinsurance.

Fonkoze’s micro life insurance product combines credit and life insurance, covering the outstanding loan amount in case of a client’s death and providing her family with $125 to help pay for her funeral—a very important and often expensive tradition in Haitian culture. Provided through Alternative Insurance Company (AIC), a Haitian insurance

company, this microinsurance is included in a client’s loan cost, ensuring that all clients receive coverage.

In 2011 and 2012, Fonkoze piloted a natural catastrophe microinsurance product called Kore W (“Reinforce You”), in partnership with the Microinsurance Catastrophe Risk Organization (MiCRO). Kore W served over 28,000 Fonkoze clients in 2012, providing 28,028 payouts in addition to forgiving clients’ existing loans and providing them with new ones when they were ready.

A review of the pilot, however, revealed that there were significant problems with the way it was structured, resulting in considerable financial losses for SFF.

Fonkoze has suspended the pilot, and we are working with our partners to explore alternatives. We believe that access to microinsurance services is an important safeguard for our clients. We will continue to explore partnerships that enable us to help protect our clients from external risks, thereby creating stronger clients and a stronger institution.


At the end of FY2012, the average outstanding loan size of our ti Kredi and Solidarity loan clients was $130. the portfolio at risk for that period (the portion of the portfolio deemed at risk because of payments more than 30 days past due) was approximately 11%.


We cannot discuss build-ing resilience without a way to measure progress. That’s where our Social Impact

Monitoring team comes in. Our dedi-cated group of Social Impact Monitors systematically track clients’ progress and evaluate program effectiveness, maintaining a flow of information to managers at all levels of the institution.

Social Impact Monitors track specific client cohorts from each incoming group, using a food security assessment and the Progress Out of Poverty Index (PPI), a poverty measurement tool developed by Grameen Foundation. Our Social Impact team measures key indicators both upon clients’ entry into a Fonkoze program and then on an annual basis (for Solidarity clients) or graduation (for CLM members and Ti Kredi clients).

The quantitative and qualitative analysis Social Impact Monitors provide not only gives us big-picture insights about our programs’ impact on Fonkoze as an institution, it also enables us to measure the impact on our members and clients on each step of the Staircase Out of Poverty—and, most importantly, track their progression up it.

Our clients achieved some key gains

in 2012. After completing the six-month Ti Kredi program, 5% of Ti Kredi clients moved above the one dollar per day poverty level, and an additional 5% moved above the two dollar per day level. In addition, 22% of clients stopped living in hunger: only 54% of Ti Kredi graduates were considered food insecure with hunger, compared with 76% of incoming Ti Kredi clients.

Clients who started directly with Solidarity loans were also successful in reducing their families’ hunger, with 44% achieving food security after one

year in the program, compared with only 3% at entry. After three years, 58% of Solidarity clients had achieved food security.

Fonkoze had an 82% retention rate in 2012; 39% of departing clients explained that they left due to difficulties with attending Center meetings or personal issues with other clients of their Solidarity group, 11% of departing clients left due to health issues, and an additional 9% left due to pregnancy or a young child.

Results

ti Kredi graduate Myrthe desvarieux displays her merchandise. in 2012, over 4,000 ti Kredi clients successfully completed the program.

Chemen Lavi Miyò Members GraduationThe effectiveness of CLM is measured through its graduation rate. A member graduates when she has fulfilled the following key life objectives:k a safe living situationk the ability to provide her family with at least two meals a dayk all of her children in schoolk an income and an active savings accountk good health for herself and her childrenk a solid plan for the future

Number of 2012 graduates 1,000All these graduates ended the program with an active savings account, and approximately 80% of them continued into the Ti Kredi program.

2012 graduation rate96% for all women who

began the program

2.8% of participants left the program

0.2% died during the program

1.5% completed CLM but did not graduate

2.8%

0.2%

1.5%

96%


Solidarity Clients After one year in the Solidarity lending program, 41% of clients went from food insecure to food secure. The number of food-secure clients increased an additional 14 percentage points after three years, giving 58% of clients adequate access to food in their households in 2012.

The following results are based on a cohort of 103 Solidarity clients who completed approximately three years in the Solidarity lending program as of September 2012. Our Social Impact Monitors used the PPI and food security index to assess their living situation upon entering the Solidarity program, after completing three credit cycles (approximately one year), and after completing six credit cycles (approximately three years).

Percentage of Food-Secure Clients On entering the

Solidarity program

After one year in the Solidarity program

After three years in the Solidarity program 58%

44%

3%

Poverty Level

On entering the Solidarity program


After three years in the Solidarity program

On entering the Solidarity program


After three years in the Solidarity program

CLIENTS LIVING ON LESS THAN $1/dAY

CLIENTS LIVING ON LESS THAN $2/dAY

47.9%

64.4%

48.3%

64.2%

60.8%

80.2%

GraduatinG CLiEntS

inCominG CLiEntS

GraduatinG CLiEntS

inCominG CLiEntS

Cement floor

Sanitary toilet/latrine

Access to piped or well water

Own small assets like a radio or TV

Send all children to school

Can read and write

Tin roof or better

Percent living below $2/day

Percent living below $1/day

Average savingsFood Secure Food Insecure without hunger

Food Insecure with hunger

64% 81%

59% 76%

7%17%

76%

14%

32%54%

97%95%

55%66%

53% 89%

25%

86%95%

63%

39% 81%

25%

48%

Nearly a quarter of clients progressed from food insecure with hunger to either food insecure without hunger or fully food secure. The number of food-secure clients doubled after the end of the 6-month program.

Past data indicates that clients typically experience quick gains in food security, but take five years to overcome structural challenges related to housing and assets.

Ti Kredi Clients The following data are based on a sample of 130 clients who graduated into the Solidarity program in 2012. The Social Impact team used the PPI and food security index to measure clients’ living situations both on entering and exiting the Ti Kredi program.

Key Socioeconomic Indicators for Ti Kredi clients who graduate into Solidarity lending


FONKOZE S.A. ANd SUBSIdIARY SèVIS FINANSYE FONKOZE

Sèvis Finansye Fonkoze (SFF), the operating company of Fonkoze S.A., is a Haitian non bank financial institution established in 2004. Through 46

branches across all of Haiti’s ten depart-ments, we serve over 60,000 microloan clients and over 200,000 savings clients. In FY2012, we facilitated over 250,000 money transfers valued at over $86 mil-lion. SFF changed our fiscal year to end September 30 in 2012 to align ourselves with regulatory requirements in Haiti.

In FY2012, SFF had operating losses of $5,655,860. Nearly half of these losses were related to Kore W, Fonkoze’s natural catastrophe insurance product (see page 7). A portion of those losses were recovered by grants received in FY2013. As we move forward, SFF looks to improve our operational and financial sustainability as well as to continue providing a range of financial

services to Haiti’s poorest.

FONdASYON KOLE ZEPòL2012 was a momentous year for Fondasyon Kole Zepòl. For 18 years, its role was to open new branches and deliver financial services to new, underserved populations. In 2012, the Fonkoze Family decided it was time to stop the expansion of its branch network and shift the emphasis to deep coverage of the areas where Fonkoze already works.

In addition, Fonkoze is preparing to face upcoming regulation of the microfinance sector by Haiti’s Central Bank. Under this regulation, not for profit organizations will not be allowed to operate a microcredit program while receiving substantial amounts of grants from donors.

As a result, on June 23rd, 2012, the Fonkoze board voted a resolution allowing the transfer of all remaining branches to Sèvis Finansye Fonkoze,

resulting in a substantial reduction in assets and liabilities.

2012 was also a transition year for donor-funded programs. Emergency and reconstruction projects, which remained a large portion of 2011 grants, wound down in 2012, whereas funding levels for the regular programs remained relatively stable. An initial effort was made to reduce central office expenses, which will continue over the next year as the Foundation maintains its focus on delivering economic development, health, and education services to support Fonkoze’s clients in their journey out of extreme poverty.

FONKOZE USA2012 was another successful year of fundraising for Fonkoze USA in support of our Haiti partners. In addition to donations from thousands of supporters, we also received several large grants from major funders spanning multi years ensuring that the work of the Fonkoze Family will continue into 2013 and beyond. Of all funds expended during 2012, nearly 87 percent were used to make grants or provide direct support to our Haitian programs. This excellent performance has enabled us to retain the highest rating with Charity Navigator and GuideStar. We also hold the Better Business Bureau Wise Giving Seal.

Our Financial Results


Fonkoze S.A. and Subsidiary Sèvis Finansye Fonkoze

conSoliDateD Balance SHeet

All amounts are expressed in Haitian gourdes (HTG)

Exchange Rate HTG/USD at end of reporting period 42.3222 40.9734 39.8817

ASSETS September 30, 2012 december 31, 2011 december 31, 2010Cash and Equivalents 317,549,974 326,371,476 523,007,904 Investments 40,916,094 17,757,084 7,939,743 Accounts Receivable 230,824,709 183,426,729 242,432,651 Gross Loan Portfolio Outstanding 527,018,592 572,427,606 462,345,393

Less Allowance for Loan Loss (56,821,319) (17,676,554) (13,870,362)Net Loan Portfolio Outstanding 470,197,273 554,751,052 448,475,031

Net Fixed Assets 109,761,198 84,738,080 63,538,850 Other Assets 66,940,802 72,897,230 65,967,982 Total Assets 1,236,190,050 1,239,941,651 1,351,362,161

LIABILITIESDeposits 1,097,884,949 913,584,016 836,627,288 Notes Payable 139,797,143 71,074,910 41,528,893 Other liabilities 141,652,127 214,444,419 443,931,449 Total Liabilities 1,379,334,219 1,199,103,345 1,322,087,630

SHAREHOLdERS’ EQUITYCapital Stock and Paid in Capital 224,770,968 171,576,377 149,592,719 Retained Earnings (deficit) (370,718,380) (131,349,949) (120,880,574)Accumulated Other Comprehensive Gain 2,803,243 611,878 562,386 Total Shareholders’ Equity (143,144,169) 40,838,306 29,274,531

Total Liabilities And Shareholders’ Equity 1,236,190,050 1,239,941,651 1,351,362,161

income Statement


Exchange Rate HTG/USD (Average Exchange Rate during reporting period) 41.7757 40.5228 39.6511

Nine Months Ended Year Ended Year EndedREVENUES September 30, 2012 december 31, 2011 december 31, 2010Interest Income (Loans and Other) 156,792,814 201,286,352 123,707,447 Interest Expense (12,543,267) (15,068,996) (10,034,337)Net Interest Income 144,249,547 186,217,356 113,673,110

Provision for Loan Losses (60,419,561) (12,379,139) (22,243,925)Net Interest Income After Provision for Loan Losses 83,829,986 173,838,217 91,429,185 Other Operating Income 118,402,859 142,704,352 74,888,593 Total Revenues 202,232,845 316,542,569 166,317,778

OPERATING EXPENSES 430,166,445 364,400,815 206,385,768 Net Loss from Operations Before Income Tax (227,933,600) (47,858,246) (40,067,990)Other income 4,227,538 40,388,078 140,219 Provision for Income Tax (15,662,369) (2,999,207) 13,489,380 Net Loss Before Extraordinary Items (239,368,431) (10,469,375) (26,438,391)Extraordinary Items - - 98,423,859 Provision for Income Tax on Extraordinary Items - - (29,527,158)Net Income (Loss) from Operations (239,368,431) (10,469,375) 42,458,310


Fondasyon Kole Zepòl

Statement oF Financial poSition


Exchange Rate HTG/USD at end of reporting period 42.5530 40.9734 39.8817

Year Ended Year Ended Year EndedASSETS december 31, 2012 december 31, 2011 december 31, 2010Cash and Equivalents 101,880,423 115,338,195 276,706,967 Investments 69,738,160 119,115,805 68,702,506 Accounts Receivable 74,241,239 92,105,290 70,802,795 Gross Loan Portfolio Outstanding 2,408,017 68,188,825 110,689,151

Less Allowance for Loan Loss - (2,386,579) (9,701,622)Net Loan Portfolio Outstanding 2,408,017 65,802,246 100,987,529

Net Fixed Assets 6,521,909 25,618,618 34,821,817 Other Assets 10,991,975 33,135,168 51,405,187 Total Assets 265,781,723 451,115,322 603,426,801

LIABILITIESDeposits - 138,920,211 219,294,169 Notes Payable 55,320,396 109,980,291 97,407,045 Other liabilities 191,793,171 141,307,652 196,828,690 Total Liabilities 247,113,567 390,208,154 513,529,904

NET ASSETSUnrestricted (128,776,262) (41,278,240) (48,857,854)Temporarily Restricted 147,444,418 83,052,077 119,949,207 Permanently Restricted - 19,133,331 18,805,544 Total Net Assets 18,668,156 60,907,168 89,896,897

Total Liabilities And Net Assets 265,781,723 451,115,322 603,426,801

Statement oF activitieS


Exchange Rate HTG/USD (Average Exchange Rate during reporting period) 41. 9493 40.5228 39.6511

Year Ended Year Ended Year EndedREVENUES december 31, 2012 december 31, 2011 december 31, 2010Interest Income (Loans and Other) 14,002,211 41,101,507 33,121,079 Interest Expense (3,361,701) (6,202,508) (4,721,643)Net Interest Income 10,640,510 34,898,999 28,399,436

Provision for Loan Losses Net of Recoveries of Loans Previously Written Off (1,325,776) 4,668,944 (7,893,407)Net Interest Income After Provision for Loan Losses 9,314,734 39,567,943 20,506,029 Other Operating Income (Expense) (29,209,548) 40,530,732 67,845,815 Grants From Donors 219,524,676 285,726,617 155,651,849 Capital Grant Contribution - 327,787 418,758 Total Revenues 199,629,862 366,153,079 244,422,451

Total Expenditures (excluding extraordinary items) 241,868,875 404,432,847 203,640,857

Change in Net Assets Before Other Income and Extraordinary Items (42,239,013) (38,279,768) 40,781,594

Other Income - related party debt forgiveness - 9,290,039 -

Change in Net Assets Before Extraordinary Items (42,239,013) (28,989,729) 40,781,594

EXTRAORdINARY ITEMSEarthquake Grants and Donations - - 463,033,976 Expenses Due to Earthquake - - (457,043,363)

Total Change in Net Assets (42,239,013) (28,989,729) 46,772,207


Fonkoze uSA

Statement oF Financial poSition

All amounts are expressed in U.S. DollarsYear Ended Year Ended Year Ended

ASSETS december 31, 2012 december 31, 2011 december 31, 2010Cash and Equivalents $ 713,589 $ 1,048,769 $ 1,117,671 Short-term Receivables 2,013,758 1,423,336 826,908 Prepaid Expenses 6,057 24,828 43,861 total Short-term Assets 2,733,404 2,496,933 1,988,440

Net Property and Equipment 7,204 9,676 8,227 Investments 1,168,376 385,669 318,342 Long-term Receivables 2,347,525 1,083,733 1,523,966 Other Assets 10,846 10,846 10,846 Total Assets $ 6,267,355 $ 3,986,857 $ 3,849,821

LIABILITIESShort-term Payables $ 1,283,761 $ 1,385,324 $ 755,328 Long-term Payables 2,091,511 1,088,733 1,503,966 Total Liabilities $ 3,375,272 $ 2,474,057 $ 2,259,294

NET ASSETSUnrestricted $ 662,323 $ 578,521 $ 970,437 Unrestricted - Board Designated for Endowment 569,776 543,624 155,924 Temporarily Restricted 1,562,984 293,655 417,166 Permanently Restricted for Endowment 97,000 97,000 47,000 Total Net Assets $ 2,892,083 $ 1,512,800 $ 1,590,527

Total Liabilities And Net Assets $ 6,267,355 $ 3,986,857 $ 3,849,821

Statement oF activitieS

All amounts are expressed in U.S. DollarsYear Ended Year Ended Year Ended

REVENUES december 31, 2012 december 31, 2011 december 31, 2010Contributions and Grants $ 4,649,696 $ 2,116,547 $ 4,761,128 Interest & Dividend Income 69,103 58,465 65,543 Other Income 118,287 68,706 103,063 Total Revenues $ 4,837,086 $ 2,243,718 $ 4,929,734

EXPENSES PROGRAM SERVICES AND GRANTS TO HAITI $ 3,003,163 $ 1,810,163 $ 3,720,641

SUPPORTING SERVICESFundraising 236,339 188,376 151,207 Administration 218,301 322,906 246,880 Total Supporting Services 454,640 511,282 398,087 Total Expenses $ 3,457,803 $ 2,321,445 $ 4,118,728

Change In Net Assets $ 1,379,283 $ (77,727) $ 811,006


Honoring Our 2012 donors & investors

$100,000 OR MOREAnonymous

Artists for Haiti

Matthew T. and Margaret D. Balitsaris

Gary and Mary Becker

Becker Family Foundation

British Red Cross Society

Concern Worldwide

First Fruits of Washington Donor Advised Fund administered by World Vision

Global Partnerships

Grand Challenges Canada

Interamerican Development Bank (IADB)

Micro Catastrophe Risk Organization (MiCRO)

Mennonite Economic Development Associates (MEDA)

Opportunity International Deutschland

Plan Haiti

Save the Children

Swiss Agency for Development and Cooperation (SDC)

The Kanpe Foundation

The Worldwide Vincentian Family

United Nations Development Fund

Vista Hermosa Foundation

W.K. Kellogg Foundation

Whole Planet Foundation

$50,000—$99,999 Anonymous

Michael and Linda Fisher

Haitian Microfinance, Inc.

Jill and Stephen M. McDonnell

Elizabeth R. and J. Maxwell Moran

The MasterCard Foundation

The Rouse Family Foundation, Bill and Erin Rouse Advisors

Vitamin Angels

Zanmi Fonkoze Bucks County, PA

Zanmi Fonkoze Richmond, VA

$25,000—$49,999American Jewish World Service

David and Carrie Dortch

Gruber Family Foundation

International Development and Relief Foundation

Harold Simmons Foundation

$10,000—$24,999 Abundance Foundation

Andrew Grene Foundation

Byron Nimocks and Emilie Murphy

Charities Aid Foundation of America

Bernice Galbreath

Vincent A. and Catherine M. Gallagher

Grameen Foundation

Leininger Family Foundation

Listen Well

Pura Llorente and Tom Strong

Mary Catherine Kilday and George W. Malzone Foundation

Karen Norrick

Roger and Susan Stone Family Foundation

SC Ministry Foundation

Mark G. and Cindy Schoeppner, CFA

Yeardley Smith

Roger and Susan Stone

The Village Experience

John Whitehead

$5,000—$9,999 A.H. Gage Private Foundation

Theodore A. Von Der Ahe, Jr. Trust

Christina and Charles Bascom, The Upstream Foundation

Daniel F. Capshaw and Linnea M. Nilsen Capshaw

City National Bank of New Jersey

Collis Warner Foundation

Congregation of the Holy Spirit, Hemet, CA

Elizabeth L. Daniels

Daniels Family Foundation

Robert Dulaney

Therese Feng

First United Methodist Church of Germantown, Philadelphia, PA

Haiti Connection, Newman Catholic Center

Bonnie S. Jones

Jones Family Charitable Foundation

Kunkel Family Foundation, Joseph and Nancy Kunkel Advisors

Elizabeth Lowell

Katarina Mesarovich

Evelyn B. Newell

Jane N. Newton

Jean-Guy Noel

OMC Group

Petty Family Fund, Mark E. and Peyton Petty Advisors

Pam and Mark Semmler

Josie Sentner

The Gross Family Fund, Kathleen M. Gross Advisor

The Lenore Albom Microfinance Giving Program of FWA of New York Educational Fund

The Securitas Foundation

Neil and Mary Patricia Walsh

Mr. and Mrs. B. Briscoe White III

Shelia J. & Rufus M. G. Williams Charitable Fund

C. Jeffrey Wright

Zanmi Fonkoze Santa Barbara, CA

$2,500—$4,999 Church of the Epiphany c/o Ten Percent Committee, Louisville, KY

Alexander and Emily Counts

Claudine and Bernard Dussert

Ray Escoffier

Stephen D. and Mary Ford

Paul and Kathleen C. Fuhs

Gabriel Goffman

William and Jean Graustein Fund

Leigh Hardiman and Peter Mostow

Melanie and Robert Howard

Theodore Janulis

David T. and Kelli W. Jones

Janusz Korczak Memorial Fund of the Vermont Community Foundation, Robert and Mary Belenky Advisors

Local 600 UAW

Donald B. and Carol L. Post

Reverend Alfred R. Shands III

Saint Peter Catholic Church, Reading, PA

See3 Communications LLC

Marsha Siegel

St Aloysius Church, New Canaan, CT

The Ray&Ellyn Stevenson Fund of the Martin County Community Foundation

The Allemall Foundation, Inc.

The Chang Hsu Family Charitable Fund, Bob Hsu and Bonnie Chang

University of Notre Dame, IN

Richard and Carol Urban

The Waldman Family Charitable Trust

Beth M. Wescott

America M. and David H. Young

$1,000—$2,499Rebecca W. Adams

Deborah C. and Paul K. Adamy

All One Family Fund, Titia Ellis Advisor

All Saints Church, Pasadena, CA

Anonymous

Barbara Appel Irrevocable Living Trust

Barbara Ault

Jamie Austin

James and Edith Babson

The Paul and Edith Babson Foundation

Michael and Margherita Baldwin

Baldwin Brothers

M. Judith Billings

C. Douglas Blanchard

John W. Bloom

Ann L. Breeden and Edna Johnston

Christine S. Breu

Reverend Douglas C. Brougher

Arden R. Brugger

Chantal Hudicourt Ewald

Christ United Methodist Church, East Moline, IL

Drs. H. Fred and Karen Clark

Dana S. and Neil M. Cohen

J. H. Cohn LLP

Commonwealth Catholic Charities, Richmond, VA

Constance Costas

Alice T. Davison and Howard Tomb

Debley Foundation

Margaret and Charles Demeré

Mr. Francoise E. Denis

Joan C. and Harold L. Denkler

Glenda Denniston

Episcopal High School, Alexandria, VA

Esperos, Oliver Shuttlesworth

Regina M. and Neil K. Fleming

Fonkoze Development Fund

B. Jean Fort

Margaret Fourre and Larry L. Anderson

Elizabeth and Fred Frick

William D. and Patricia S. Friel

Palmer P. Garson

Arlene D. Grady

Thomas M. Griffin

Anne Hastings

Corey Hastings and Jennifer Walden

Haverford College, Haverford, PA

Ida Hawkins

Serge Hyacinthe

Immaculate Heart Community of Los Angeles, CA, Social Action Fund

Serge and Rosa Jean

Jefferies & Company, Inc.

Robert O. and Josephine L. Johnston

Aimie Jones

Ellen M. Kealy

Nancy and Edward Kurtz

Rebecca and James Langer

Lexxor, LLC

Emily Lippert

Loretto Literary & Benevolent Inst., Littleton, CO

Brian and Diana Lovett

Mary Macgregor

Eugene R. and Mary Lou Mallette

Christina T. and Brian T. Mangino

Mary the Apostle Catholic Worker, Erie, PA

Shari K. Mason

Peggy F. McDonnell

Anna McDonnell and Sam Harper

Paul F. and Christine McGuire

Alice McMahon and Daniel Hardie

John and Gloria McManus

Severin Menard

C. Wayne Middleton

Daniel and Kathie Molter

Moody’s

Corell H. Moore

James J. Moore

Clarele Mortimer

Khamisi Mwaniki

Lorelei O’Hagan

Carrie and Thomas J. Ohly-Cusack

William E. and Elizabeth D. Oliver Fund

Patrick Ophuls

Perfecta and Geoff Oxholm

Elaine L. Pero Trustee

Elizabeth H. Perrin

Pfizer Foundation Matching Gifts Program

Irving & Constance Phillips Charitable Fund

David Poetker

Alexa and Peter J. Quinn

Monica F. Rawles

Round Hill Hotel and Villas

Elizabeth P. and Doug Sandler

Msgr. William Scheyd

Harold A. and Eve Schmitz

Susan M. and Charles P. Scholer

Sisters, Servants of the Immaculate Heart of Mary, Monroe, MI

Lorraine Smith

Rosemary C. Smith

Susan Jillian and Roderick A. Smyth

Fonkoze is grateful for each of our incredible donors. No matter the size of the gift, every dollar makes a difference in rural Haiti. Mèsi anpil for your generosity and dedica-

tion to empowering Haitians to lift themselves out of poverty.

Note: If you find that we have made any errors with respect to your information, please notify us so that we can remedy it for next year!


Sharmi Sobhan and Sumit Sasidharan

Martha S. Sproule

St. Charles Church, Detroit, MI

St. Thomas Aquinas Church, Freeport, IL

Laura Stephens

George A. and Nancy S. Stern

Stacy J. Stevens

Craig Stewart

Robin and Joseph Stocks

The Ferrara Law Firm, LLC

The Lang Foundation, John Lang and Wendy Lang

The Weiss Fagen Fund

Leslie Thurman

TimeWarner

Trinity Church, Santa Barbara, CA

Cathy Tullidge

Joan Vermeulen

Villa Maria House of Studies, Immaculata, PA

Sarah G. and Jeffrey W. Vogt

Brian J. and Jennifer A. Vosburgh

Mark Waldman

Frances L. and John R. Ware

Barbara S. Webster

Kathleen and Shawn White

Caroline Wischmann and David S. Rasner

Laura Roberts Wright

Mary N. Young

Donna L. and J. James Zocco

$500—$999Carole Lewis Anderson

Joan Asher

Sarah Barnhard

Roz Becker

Reverend Joseph F. Beckman

Jeff M. Bergelson and Linda D. Finkelstein

Larry S. and Barbara W. Beyna

Shirley M. Birkholz

Kathleen Blank-Riether

John A. Blaska Trust

Christina L. and Douglas C. Borden

Catherine F. and Turner M. Bredrup

Barbara Brockhurst and Robert Lavoie

Charles Brown III

Duncan and Janet Campbell

Capital Group Companies Charitable Foundation

Leigh Carter and Andrew Schuman

Rev. Msgr. Franklyn Casale

Johnny Celestin

Daniel Chatman

Marie Clergé

Leroy and Lucy Close

Lorilyn S. Colemon, Trustee

Lenore Collins

Anne and Barring Coughlin

Elizabeth Cox

Christopher and Beth Daulton

Bernadette C. Ethridge

W. Lee Dickson and James R. Graham

Mary E. Didier

Dominican University, River Forest, IL

Dorothy & Toto Foundation

Hilary Duffy

John P. and Anne K. Duffy

The John P. & Anne K. Duffy Foundation

Mary A. Cameron and Christine M. Easley

Nancy Eichelman and John B. Handy

Lucy Elliot

Donetta Epperson

Kathryn Erickson and Albie P. Jarvis

William and Anne C. Ewing

Katleen Felix and Pascal Ranger

Pamela and Michael Fuhrig

Beverly E. and Gino A. Gattari

Gino A. and Beverly E. Gattari JT Rev Trust

GE Foundation - Matching Gifts

Nancy Glass

Cindy M. Golbert

Allan I. and Joyce C. Goldberg

Jean E. and John C. Grant-Dooley

Richard and Lois Gunther Fund

Gertrude E. Harris

Mary K. Hartman and Noel Jurgens

Ann M. and Edward J. Hawkes

Eric and Kristen Headrick

Elliot Hernandez

Judith L. and Harry Hoehler

Cary Hopper

Carolyn J. Hubers

David Pratt Hunt

Karen C. Hyland

John F. Hynes

If/When

Illinois Tool Works Foundation 3-For-1 Matching Gift Program

Jacksonville Urban League

J. Michael and Michelle F. Jellen

Jinpa Foundation

KT Johnson

Robert R. and Karen A. Johnston

James H. and Joanne K. Kemp

Dale J. and Kay M. Kempf

James Knauer

Nic Korte

Kristina Kurki-Suonio and Jan M. Wennstrom

Pierre Labaze and Florence Felix

Priscilla Labovitz

Iole and Earl Le Tissier

Daniel Lew

Paul Lusty Revocable Trust, Jessica and Paul Lusty

Lynn Marting

Mary Elliott Associates Inc

Paul J. McCarthy and Orla C. O’Callaghan

Marcia H. McLaughlin

David Mertz

The Messinger Family Fund, Ruth Messinger

Frances and Steve Miller

Nick and Sylvia Miller

Kathryn J. and William D. Monday, Jr.

Monthly Meeting of Friends of Philadelphia,PA

L. Glenn and Cecilia O’Kray

Kathleen Q. and Kerry B. O’Quinn

Barbara Ostrowski and Mary A. Novascone

Kimberly and Tobey Oxholm

Sarah E. Peck

Perrault Rago Gallery

Woody Peterson

Alexandra Poe

Louis and Ramona Prezeau

Putnam Barber and Valerie Lynch Fund at The Seattle Foundation

Susan E. Ratigan and David E. Barrosse

Anne S. and Thomas A. Robertson

Margaret R. Rosenkrands Trust

Joseph Schillmoeller and Pauline M. Feltner

Tanya Schneider

Dorothy Senerchia

Gladys E. Shaw

Jean-Emmanuel Shein and Christiane Janssen

Seana L. Shiffrin

Barbara Shoulders

Sheryl Sirotnik

Sisters of Saint Anne Provincialate, Marlborough, MA

Catherine Slappey

Barbara D. and Kenneth R. Smith

Sosebee Family Philanthropic Fund of the Jewish Community Foundation

Philip L. and Carol Stein

Swiss Re Matching Gift Program

Nancy W. and E. Bradford Tazewell

The Field Charitable Fund, Mr. and Mrs. John B. Field Advisors

The Leatherman Family Fund of The Minneapolis Foundation

Jane E. Thompson

Barbara Tillman

Tomkins Family Foundation

Saba Tseggai

Lynn I. and Eli D. Turner

Unitarian Universalist Church of Fresno, Clovis, CA

UW Combined Fund Drive

Maryann Wanner

Shaaron M. Warne and William J. Mueller

Christine Wasyliko and Christopher Huntley

Harry Waters

Joel B. Wittenberg and Mary Ann Ek

Patricia Wood

Yeh J. and Frank T. Wu

Frances K. Wu and Wilburn Chesser

Laura Zanotti

David L. and Suzanne M. Ziegler

Laura Zylstra and Todd Garth

$250—$499Rosalind and Robert Abernathy

William Abrams and Julie Salamon

Roger Angell

Delores and Mervin Antoine

Joseph F. Augustin

Darline Augustine

Mr. Phil Bahng and Ms. Grace Bahng

Venky Balakrishnan Iyer

Bridget Baratta

Zebulon Bartels and Carla J. Baccelli

Jane E. Beuttel

Allen D. Black

Mary M. and Sylvester G. Black

Blue Raccoon Design Group, Inc

Dawn S. and Marshall Bowen

H. Boyce and Karen Budd

Thomas Bracken

Leslie and Susan H. Brisman

Robert Brown

Dr. Stephen D. Brown and Ms. Linda B. Brown

Bruce Ford Brown Charitable Trust, Dr. Stephen D. and Linda B. Brown Advisors

Tom and Ruth Bushaw

Ms. Tabor W. Butler

Zena and Matt Carmel-Jessup

William J. and Mary B. Carry

John and Susan Carson

N L Caruso Family Foundation Inc

Elizabeth C. and David W. Champney

Wendy and Eugene Childers

David Clark

Concord Academy’s Microfinanace Group, Concord, MA

June Elizabeth Connolly

Jacqueline Cordry

Benjamin W. Cornwell

Michele R. Costello

Thomas Costello

The Bernadette M. Cronin and Lawrence H. Geller Peace and Justice Fund, Lawrence Geller Advisor

N. M. Nuala Crotty

Demusz Brothers Inc

Keila DePoorter

Joseph Disciacca

Barbara DiTommaso

James D. and Dawn A. Engel

Oluwafemi Fadugba

Ryan Feller

Marie E. and John M. Foley

Jay A. Froberg

Lynn Garfunkel

Brian and Louisa Gately

Mary George

Gibrall Insurance Agency, Inc.

Global Impact

GNU Foundation

George A. Gowen and Anita Von Wellsheim Gowen

Charles Gravitz and John Borstel

Marc Grobman

Allan Grundstrom

Michelle and Mark A. Guilfoil

Judith and Robert Hadley

Stephen Halper

Cynthia L. and J. Sheppard Haw

Edward S. and Mary W. Herman

Margaret Hnath-Brown

William H. and Peggy L. Hoff

Perry and Dennis Hooks

Robin S. and Michael Hoy

Cordell and Holly Hull

Joseph Israel

Karen and Abhinandan Jain

Medical Practice of Jean-Francois & Laroche P. C.

Harley Jeanty

Rolf B. Karlsson

William V. and Mary Ann Kerr

Denise and Bruce Kinder

Lacey Properties & Land INC

James J. Lawler

Ellen W. Law

Ellen Lazarus

Lyla and Tracy Leigh

Amanda Leiter

Darrell Levi

Mariah Levin

Laura Liebstaedter

Margarete Liebstaedter

Maria Liza and Peter A. Lindenberg

Laura Locklin

Lowell School

David Loxterkamp and Lindsay McGuire

Karen and Thomas Lyon

Sara Madhu

Cathleen Mahon

Jose Maldonado

Nono Maldonado

Honoring Our 2012 Donors & Investors


Michele and Richard Matuszewski

Peter Mayock

Mr. Brian McGeer

John R. Mercier

Linda Neuenschwander

Michigan Coalition for Human Rights

Carol and David Miller

William K. and Harriet Mooney

Peter Morgan

Benton L. and Frances S. Moyer

Elizabeth A. Mumford and Joe G. Gitchell

Stephen Myers

Carol Nash

Bruce Nesbitt

Brent Nicolet

Karen Niles

Eleanor Oakley

John Oliphant

Joan L. T. and Mark W. Olson

Cheryl Olsten

Fredercik Otto

Frances Oxholm

Nadija R. Packauskas and Ted R. Stuart

Mary J. Paul

Andrea Paulson

David Peyton

Katherine and B. Donovan Picard

Junius Powell, Jr.

Mr. and Mrs. Rodney Prezeau

Debra Pruitt

Stephanie L. Quade

Quaker Capital Management

Charles Rardin and Jane Sharp

Thomas M. Rauch

Renaissance Charitable Foundation Inc.

Alice Renouf

Barbara F. Resnek

Daniel R. Robinson and Cathy M. Collie

Whitney R. Robinson

William A. Rose, Jr.

Gary M. and Toby L. Rosen

Reverend Janice M. Rowell and Mr. David Rowell

Donald A. and Ardis M. Rowley

Dzenita M. and Edin Saracevic

David Sarr

Jane H. and Ronald E. Saunier

Mary J. and Ken Sawers

Jane and Charles Sharp

Martha A. and Barry Siegel

Dylan Simanowitz

Sisters of Charity of New York, Bronx, NY

Sisters of Mercy West Midwest Community

Harvey W. Slager

John J. and Elaine M. Smith

Paul Stephey

Bruno and Marie Surpris

Lindsay Swancutt and Calder Hudson

Linda Tammen

Therese Tangredi

Phyllis B. and Richard K. Taylor

Therese J. Terns

The Lifshutz Foundation

Thomas J. and Gail M. Thelen

Charles F. Thomson

Douglas Viggiano

Kathryn M. Waldyke

Kate S. Yonkers and Kelly D. Welch

Rosemary J. and Bruce M. Wentworth

Sue and Lewis Werlin

Dana Whitaker

Irlene Whiteman

George A. Whitley

Lawrence T. Young

The Sandy & Margy Zabriskie Fund, Marguerite and Alexander Zabriskie Advisors

dONOR AdVISEd FOUNdATIONSAmerican Endowment Foundation

Ayco Charitable foundation

Boston Foundation

Calvert Social Investment Foundation

The Chicago Community Foundation

The Community Foundation for The National Capital Region

Fidelity Charitable Gift Fund

FJC

Goldman Sachs Funds at Goldman Sachs Gives

Jewish Communal Fund

Jewish Community Foundation

The Jewish Community Foundation of the East Bay

Martin County Community Foundation

The Minneapolis Foundation

National Christian Foundation Kentucky

Schwab Charitable Fund

The Seattle Foundation

Triskeles Foundation

Vanguard Charitable Endowment Program

Vermont Community Foundation

World Vision

INVESTORSAdorers of the Blood of Christ, St. Louis, MO

Adrian Dominican Sisters, Adrian, MI

Alternative Gifts International

Alternative Insurance Company

Baltimore Ethical Society

James F. Barry

Matthew T. and Margaret D. Balitsaris

Paul Beach

Gary & Mary Becker

Beyond Borders

Bon Secours Health System

Calvert Foundation

Carol Anne Otto

Catholic Health Initiatives

Chantal Hudicourt Ewald

Timothy Cimino

City National Bank Shares

Carroll and Joseph Clay

Congregation of the Sisters, Servants of IHM, Scranton, PA

Charles Conlon

Virginia S. Coyle

Robert Crauder

Leatrice Crivello

Barbara DiTommaso

Dominican Sisters of Hope, Ossinig, NY

Dominican Sisters of Springfield, IL

David W. Dortch

Robert W. Dulaney

Polly and Peter Edmunds

Rosemary Edwards

Thomas Ellis

Ethical Action Committee of St Louis

Fitzpatrick Family Foundation

Fonkoze Employee Trust

Fonkoze Foundation

Fonkoze USA

Francis of Assisi Microlending LLC

Friends of the People of Haiti

Peter Gebhardt-Seele

Grameen Foundation

Grey Nuns of the Sacred Heart, Yardley, PA

Haiti Solidarity of the Northeast

Haitian Microfinance, Inc.

Judy and William Harrington

Robin and Michael Hoy

John & Christine McKay

Josie Sentner

Julian & Ruth Schroeder

Dr. Henry Kaminer

Kimberly McCormick

Michael Komba

Constance Lesold

Loretto Literary & Benevolent Institution, Nerinx, KY

Christine Low

Karen Marysdaughter & Larry Dansinger

Mennonite Economic Development Associates

Mary Elizabeth Meehan

Mercy Partnership Fund, Oakland, CA

Susan Metz

Cecile Meyer

Michigan Committee for a Democratic Haiti

Mid-Atlantic Regional Christinan Life Community

Patricia Miller

Fred Montas

Nazareth Literary and Benevolent Institution, Nazareth, KY

Jane N. Newton

Oikocredit, Ecumenical Development Cooperative Society, U.A.

Our Lady of Victory Missionary Sisters, Huntington, IN

Joseph & Mary Palen

Pax Christi USA

Peace and Justice Book Club

John R. Poole

Rebecca Brune

Jean and Vance Reese

Reformed Church in America, Grand Rapids, MI

Religious Communities Investment Fund Inc., Oakland, CA

Merilie Robertson

William and Erin Rouse

Joseph Rund

Sacred Heart Monastery, Yankton, SD

Ed Schmidt

School Sisters of Notre Dame, St. Louis, MO

Seton Enablement Fund

Sisters of Charity of New York, Bronx, NY

Sisters of Charity of Saint Elizabeth, Convent Station, NJ

Sisters of Charity of the Incarnate Word, Houston, TX

Sisters of Notre Dame of Toledo, OH

Sisters of St. Dominic, Racine, WI

Sisters of St. Francis of Philadelphia, Aston, PA

Sisters of St. Joseph of Carondelet, St. Louis, MO

Sisters of St. Joseph of Carondelet, St. Paul, MN

Sisters of the Blessed Sacrament, Bensalem, PA

Sisters of the Holy Cross Inc., Notre Dame, IN

Sisters of the Holy Names of Jesus & Mary U.S.-Ontario Province

Sisters of the Humility of Mary, Villa Maria, PA

Sisters, Immaculate Heart of Mary

Sisters, Servants of the Immaculate Heart of Mary, Monroe, MI

Sharmi Sobhan

Society of the Holy Child Jesus

Society of the Holy Child Jesus, Rosemont, PA

St. Augustine R.C. Church, Brooklyn, NY

St. Bridget Church, Manchester, CT

St. Martin de Porres Catholic Worker House

Lawrence J. Suffredin Jr. and Gloria Callaci

Finian Taylor Revocable Living Trust

Doug Thompson

Rev. J. Michelle Tooley

Tulsa Community Foundation

Untours Foundation

Ursuline Sisters of Tildonk, Jamaica, NY

Barbara Webster

Douglas E. Wingeier Trust

IN-KINd dONORS ANd VOLUNTEERSAkin Gump Strauss Hauer & Feld LLP

Carol Lewis Anderson

Aimie Jones

Alexa Quinn

Cathy Tullidge

Edna Johnston

Good Eye Video

Jill and Stephen M. McDonnell

Kripalu

Laura Stephens

Lowell School

Lyla and Tracy Leigh

Palmer P. Garson

Round Hill Hotel and Villas

Vitamin Angels

Zanmi Lasante

Audubon Society

Frances Wu

Josie Sentner

Laura Wright

Paul and Jessica Lusty

Sister Rose Gallagher

Whole Foods River Road

ENdOwMENTS ANd MEMORIALSThe Jerry and Anna Bedford Endowment Fund

H. Fred Clark Memorial Fund

Bob and Marie Fehribach Memorial Fund

Raymond and Lise Giraud Memorial Fund

SHOULdER TO SHOULdER LEGACY SOCIETYAnonymous

Jerry and Anna Bedford

Leigh Carter and Andrew Schuman

Alexander and Emily Counts

Margaret Demere

Barbara DiTommaso

Anne H. Hastings

Brian and Diana Lovett

Joe and Mary Palen

Peg Rosenkrands

Honoring Our 2012 Donors & Investors

Pòdpè

Milo

Jan RabèlGwomòn

Lenbe

Pomago

Okap

Gonayiv

Fòlibète

Wanament

Montòganize

PonsondeFONKOZE BRANCH

Ench

Sen Michel

Aken

Ti Rivye d’Nip

Sen Rafayel

Twoudinò

Boukàn Kare

Tirivyè

Tomonn

Sodo

Mibale

Latwazon

Kabarè

Gantye

Fonverèt

Pòtoprens

BizotonLeyogàn

Lagonav

Beladè

Fondwa

Tyot

Ansapit

Marigo

Jakmèl

Twen

LavaleFondèblan

Miragwan

Okay

Okoto

Jeremi

Bomon

Piyon

FONKOZE FAMILY SENIOR STAFFCarine RoenenDirector, Fondasyon Kole Zepòl

Anne H. HastingsChief Executive Officer, Sèvis Finansye Fonkoze

Leigh CarterExecutive Director, Fonkoze USA

FONKOZE BOARd OF dIRECTORSJoseph B. Philippe, CSSp, CoordinatorLeila LubinFrednel isma, TreasurerMarie deleure Jean Plaisival, General SecretaryMarie Léone démosthène, Assistant SecretaryObény RoseGuerda eustachethony FleuryMérelus YodelineJunette estiliendominique Boyer, SFF Representative

SèVIS FINANSYE FONKOZE BOARd OF dIRECTORS Father Joseph B. Philippe, CSSp, PresidentAnne Hastings, Secretary/Treasurer Julie Redfern Mary Jo SentnerBen SimmesKathleen Wright, SL, CPAdaniel Godefroy

FONKOZE S.A. BOARd OF dIRECTORSFather Joseph B. Philippe, CSSpAnne H. HastingsJulian SchroederChantal Hudicourt ewald

CREdITS

Editorial TeamLinda BoucardMatthew BrownLeigh CarterCharles GravitzMackenzie KellerLyla LeighCarine RoenenSteve WerlinMarta VanderStarreLaura Zylstra

designBrad Latham

PhotographyDarcy Keifelwww.kiefelphotography.com

FONKOZE USA BOARd OF dIRECTORS Claude AlexandreMatt Balitsaris, Vice ChairHeather BalkeLeigh CarterAlex Counts, Chairtherese Feng, TreasurerMadeleine FéquièreMelanie Howard, SecretaryFather Joseph B. Philippe, CSSpJean-Guy noeldaniel Robinson neil P. Walsh C. Jeffrey Wright Laura Roberts Wright david Garfunkel, Board Fellow

HONORARY BOARd OF dIRECTORS OF FONKOZE USAJose Artiga Jerry BedfordMary Becker Gary Becker Maryann Boorddr. Paul Farmer Maureen Fenlon, OP Brian Gately Beverly LucasMichael McClanen Father Albert McKnight, CSSp Ruth Messinger Louis PrezeauMarie M.B. RacineMichael Rauenhorst Winston tellisAnne Hastings, Emeritus

2012 Fonkoze Leadership

FONKOZE FAMILY COORdINATING COMMITTEE

REPRESENTING FONKOZE USAAlex Counts, Co-ChairJean Guy noel

REPRESENTING FONDAYSON KOLE ZEPòL dominique Boyer Marie Plaisival dr. Florence Jean-Louis

REPRESENTING SèVIS FINANSYE FONKOZEStefan Harpe Josie SentnerChantal Hudicourt ewald, Legal advisorJulian Schroeder, Co-Chair

INVITED STAFFAnne Hastings, Chief Executive Officer, SFFCarine Roenen, Director, FonkozeLeigh Carter, Executive Director, Fonkoze USA

Fonkoze’s Branch Network Fonkoze has an extensive infrastructure of 46 branch offices in all ten departments of Haiti. This enables us to provide financial and development services throughout rural Haiti, effectively mobilizing each community’s resources as the instruments of its own development.


FONKOZE USA 1700 Kalorama Road NW, Suite 102 Washington, DC 20009 202.628.9033

www.fonkoze.org

FONdASYON KOLE ZEPòL 119 Avenue Christophe

Port-au-Prince, Haiti

505 (from Haiti)

1.800.293.0308 (from US)

SèVIS FINANSYE FONKOZE 119 Avenue Christophe

Port-au-Prince, Haiti

505 (from Haiti)

1.800.293.0308 (from US)

Fonkoze holds Charity Navigator’s top four-star rating for exceeding industry standards and outperforming most charities in its cause.

GuideStar recognizes Fonkoze as a Valued Partner.

The Better Business Bureau Charity Seal Program recognizes Fonkoze as an Accredited Charity.

Fonkoze is ranked as a Philanthropedia top 10 international microfinance organization.

Global Journal ranked Fonkoze #33 in its international Top 100 NGOs List.

# 31204

Fonkoze USA participates in the Combined Federal Campaign.

Documents

Commitment. Resilience. Results. · 2014. 2. 15. · non bank financial institution, provides our financial services. These Haitian organizations are joined by Fonkoze USA, a U.S