The Fonkoze Family 2007 Annual Report

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It is an awesome thing to witness the birth of a movement

Vision

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Dear Friends of Fonkoze:

A movement that has survived against all odds. These words could not be more relevant than they are at this moment. As I write my annual letter to our partners in this amazing birth and survival of a movement called Fonkoze, flood waters from Hurricanes Fay, Gustave, Hannah, and Ike still saturate much of our country. Those living in the hardest hit areas, like Gonayiv, dig with their bare hands through the mud for meager belongings. Many are scarcely clothed, without food.

All this in what was already a gruesome year. A year in which hard-working people in rural Haiti saw prices for basic necessities like rice, cooking oil, and gasoline dou-ble or triple. A year in which many saw their family resources shrink, their children unable to attend school, the size of a meal become much smaller or disappear all together, or the health of their family deteriorate.

It is exactly in such times, that the institution – the movement – called Fonkoze must be present in the lives of its clients. And while Fonkoze, too, is impacted by the same difficulties facing the Haitian people, we are accompanying our clients as they once again rebuild their lives and their country. If they aren’t giving up – and they are not! – then, neither are we.

In �007 and thus far in �008, Fonkoze expanded its programs to serve the needs of our clients more than ever. From Chemen Lavi Miyò, our program for the poorest and most vulnerable, to micro-insurance, to our Active Learning Center in Lenbe, Fonkoze listened to the needs of our clients and responded.

In the pages of this annual report, you will read an update on these important programs and have the opportunity to review the financial statements of all three Fonkoze Family institutions: Fonkoze, Sèvis Finansye Fonkoze, and Fonkoze USA. Most importantly, I hope you are moved by the images you see of our clients, the women and men who make up this profound movement called Fonkoze.

As Fonkoze donors, investors, and partners, you are part of this movement as well. Your solidarity gives Fonkoze, our employees, and especially our clients the strength they need to survive against all odds.

Joseph Philippe, CSSp

Joseph B. Philippe, CSSpFounder and Coordinator

Hope

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a movement that has survived, against all odds

Vision

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Through political unrest, natural disasters, repeated failings of infrastructure, and a degradation of natural capital, Fonkoze has been there, consistently and increasingly, to provide loan capital and education to the poorest citizens of Haiti.

Fonkoze has survived despite all of these challenges. In fact, Fonkoze has thrived. Growing exponentially to serve the needs of the six million Haitians―75% of Haiti’s population―who live in poverty or extreme poverty as measured by the universal standards of the World Bank.

Determination

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a movement to end extreme poverty in the poorest country of the western hemisphere

Vision & Results

and lay the economic foundation for democracy.

Progress since inception: represented in Haitian Gourdes

Opportunity

2007 program highlights

Highlights8

Velouse Dupiton, CLM member

As a participant in Fonkoze’s Chemen Lavi Miyò, or “Path-way to a Better Life,” Velouse Dupiton received three goats and a limited amount of merchandise in May 2007 to begin her business.

Ten months later, Velouse had tended her businesses and reinvested her profits to accu-mulate seven goats, two pigs, a field of corn, and a thriving business in small commerce.

As sole provider for her mother and five children, Velouse has approached her business with the dedication and tenacity of an unstoppa-ble woman in pursuit of her dream.

“Grace CLM,” or “through the grace of CLM,” Velouse is well on her way out of extreme poverty and stepping in as a leader in her community.

Chemen Lavi Miyò (CLM), Fonkoze’s program for the extreme poor, concluded the extensive research, development, and selection process needed to launch one of the world’s premier pilot projects for ending extreme poverty. Asset transfer be-gan in May �007 and by year-end, all 150 families had received goats, chickens, or a limited amount of merchandise to begin their businesses. Case managers visited twice weekly to assist in the development of new homes, latrines, asset management, and business development. Case managers also helped to ensure that all children were enrolled in school.

Ti Kredi, Fonkoze’s second step in the tiered strategy for economic independence, continued its pilot by offering small loans of $30 or less to 100 women. More than 70 women graduated the program after repaying their loans and attending courses in confidence building, business skills, and learning how to write their name.

Solidarity Group Loans, the cornerstone of our work and the crux of microfinance world-wide, Fonkoze’s Solidarity Group loan program reached more than �8,000 women in �007, and provided them the capi-tal they needed to expand their businesses. Also in �007, more than 70 women graduated the Solidarity Group Loans program and moved into our Small Business Development program.

Business Development, is for business owners ready to borrow in excess of $1300 U.S. The program was transferred from Fondasyon Kole Zepòl to Sèvis Finansye Fonkoze (SFF) on October 1, �007, so that SFF could move the program into a higher growth phase. Loans ranged from $1000 to $��,000 U.S. A special training program was created for those in the Solidarity Group Loan program who were ready to move into business development. Fifty women with perfect records (100% on time repayment) graduated in August �007 and an additional 15-�0 members continue to graduate each month.

Kredi Kay, the home improvement loan program that provides resources, supervision, and capital to Fonkoze members for

roofs, floors, and latrines served more than 550 families in �007. Habitat for Humanity agreed to fund the scale

up of this program in Gonayiv, Tomonn, Fòlibète, and Ench. Ten new credit supervisors were hired, nearly tripling Kredi Kay’s program capacity.

Education is as integral to our work as the loans we administer. For this reason, every member of Fonkoze begins training as soon as they are assigned to a credit agent. Through mentoring and group discussion, credit agents

assist clients in realizing their goals. Classroom education in literacy, business skills, and health

maintenance was available to members in more than half of our branch offices, and new modules

in environmental protection and children’s rights were developed and tested in Lenbe, our active learning center

in the north of Haiti.

Social Impact Management measures our success facilitating change in the lives of our members. In �007, Fonkoze began participation in the IMP-ACT consortium’s Global Learning Program. Two meetings were held with leading microfinance organizations from around the world in an effort to create a model for social performance worldwide. In Haiti, the Social Impact Management department doubled in size to accom-modate a more aggressive follow-up program for all of our members.

Micro-Insurance, the safety net that ensures Fonkoze group members and their families will be protected in case of death, was launched in December �007 to the relief and praise of many. Free to all loan recipients, Fonkoze’s micro-insurance program covers loan repayment in the event of death and offers named beneficiaries an immediate cash payout of 5,000 gourdes, approximately $135U.S. The program, though free to our members, is expected to pay for itself through the insurance of loan repay- ments and member loyalty due to the expressed value to our members.

Solidarity

Fondasyon Kole Zepòl

Fondasyon Kole Zepòl (Fonkoze), or “The Shoulder to Shoulder Foundation,” is the foundation from which the Fonkoze Family began. Today, its purpose is to give birth to new branches, to develop their culture, to nurture them to sustainability, and to ensure a focus on the double bottom line–that being the health of the organization and the social impact of our work. The foundation also manages all of the educational programs at Fonkoze and develops and tests new products, the best of which, are passed on to Sèvis Finansye Fonkoze for scale up.

10 Fiscal Responsibility

Shoulder-to-Shoulder

Fondasyon Kole Zepòl

STATEMENTS OF FINANCIAL POSITION STATEMENT OF ACTIVITIESExpressed in Haitian Gourdes: US$1 = 36.7844 on 12/31/2007 Expressed in Haitian Gourdes: US$1 = 36.8614 gourdes average 2007

ASSETS UNRESTRICTED NET ASSETSCASH AND CASH EQUIVALENTS 29,129,960 INTEREST INCOMEINVESTMENTS 33,053,917 Loans 56,696,016 ACCOUNTS RECEIVABLE 33,915,686 Other 866,170 LOANS 126,708,337 TOTAL INTEREST INCOME 57,562,186

Less allowance for loan losses (4,422,100) INTEREST EXPENSESNet loans 122,286,237 Debt (14,564,506)

FIXED ASSETS 34,911,940 Deposits (1,519,028) Accumulated depreciation (13,717,722) NET INTEREST INCOME 41,478,652 Fixed assets, net 21,194,218 Provision for loan losses,

OTHER ASSETS 3,733,580 net of recoveries of loans previously written off 11,041,284 TOTAL ASSETS 243,313,598 NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 30,437,368

OTHER INCOMELIABILITIES AND NET ASSETS Donations 16,485,855 DEPOSITS 98,078,010 Gain (loss) due to exchange rate fluctuations 936,103 BANK OVERDRAFTS 50,405,270 Foreign exchange gain 5,771,234 NOTES PAYABLE Membership dues 2,436,514

Current portion 13,803,174 Loss on investment in subsidiary (634,394) Long-term portion 72,875,242 Other 3,167,644

OTHER LIABILITIES 2,916,403 NET INTEREST INCOME AND OTHER INCOME 58,600,324 TOTAL LIABILITIES 238,078,099 NET ASSETS RELEASED FROM RESTRICTIONS (41,397,106)

NET ASSETS OPERATING EXPENSESUnrestricted (33,100,188) Salaries and other employee benefits 70,303,845 Temporarily restricted 34,320,217 Rent 3,172,656 Permanently restricted 4,015,470 Other premises and equipment expenses 8,955,299

TOTAL NET ASSETS 5,235,499 Depreciation 6,852,836 TOTAL LIABILITIES AND NET ASSETS 243,313,598 Other expenses 42,237,400

TOTAL OPERATING EXPENSE 131,522,036 CHANGE IN UNRESTRICTED NET ASSETS (31,524,606) TEMPORARILY RESTRICTED NET ASSETS

Grant revenue 62,727,292 NET ASSETS RELEASED FROM RESTRICTIONS (41,077,106) INCREASE IN TEMPORARILY RESTRICTED NET ASSETS 21,650,186 PERMANENTLY RESTRICTED NET ASSETS

Capital grant contribution 367,844 NET ASSETS RELEASED FROM RESTRICTIONS (320,000) CHANGE IN PERMANENTLY RESTRICTED NET ASSETS 47,844 CHANGE IN NET ASSETS (9,826,576) NET ASSETS AT BEGINNING OF YEAR 15,062,075 NET ASSETS AT END OF YEAR 5,235,499

Fiscal Responsibility1�

Sèvis Finansye Fonkoze

Sèvis Finansye Fonkoze, the commercial microfinance institution created by Fondasyon Kole Zepòl and other investors in 2004, is the vehicle by which Fonkoze takes successful branch offices and well-tested products and expands them to reach hundreds of thousands of Haitians, especially those living in the hardest to reach areas. Sèvis Finansye Fonkoze purchases branches of Fonkoze as they become self-sustaining and concentrates their energies on increasing penetration of their markets.

Exponential Growth

Fonkoze S.A. and Subsidiary Sèvis Finansye Fonkoze

Consolidated Balance Sheet Consolidated Income StatementExpressed in Haitian Gourdes: US$1 = 36.7844 on 12/31/2007 Expressed in Haitian Gourdes: US$1 = 36.8614 gourdes average 2007

TOTAL INTEREST INCOME (LOANS) 93,505,551 ASSETS INTEREST EXPENSESCASH AND CASH EQUIVALENTS 67,762,540 Deposit and debt (14,665,345) INVESTMENTS 6,238,615 NET INTEREST INCOME 78,840,206 ACCOUNTS RECEIVABLE 29,944,616 Provision for loan losses (44,230,902) ACCOUNTS RECEIVABLE LOANS 265,458,968 NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES 34,609,304

Less allowance for Loan Loss (15,610,718) Loans, net 249,848,250 OTHER OPERATING INCOME (EXPENSES)

Fixed Assets 84,179,003 Foreign exchange gain (loss) 22,312,092 Accumulated depreciation (54,401,712) Membership Dues 2,904,842 Fixed assets, net 29,777,291 Income from remittance services 1,716,524

Other Assets 40,668,801 Gain (loss) due to revaluation (9,629,238) TOTAL ASSETS 424,240,113 Gain (loss) on investment (1,877,180)

Other 2,298,230 LIABILITIES AND SHAREHOLDER'S EQUITY TOTAL OTHER INCOME 17,725,270 BANK OVERDRAFTS 71,245,726 NET INTEREST INCOME AND OTHER INCOME 52,334,574 DEPOSITS 307,492,835 NOTES PAYABLE OPERATING EXPENSES

Long term subordinated notes 20,231,420 Salaries and other employee benefits 72,442,395 Other notes payable 64,713,760 Premises and equipment expenses 20,562,558

OTHER LIABILITIES 10,958,338 Depreciation 14,868,799 TOTAL LIABILITIES 474,642,079 Other expenses 29,609,754 SHAREHOLDERS' EQUITY TOTAL OPERATING EXPENSES 137,483,506

Capital stock 41,656,174 NET INCOME (LOSS) FROM OPERATIONS BEFORE INCOME TAX (85,148,932) (par value, HTG 25, 1,665,847 shares issued and outstanding) PROVISION FOR INCOME TAX 36,661,503 Additonal paid in Capital 35,588,241 NET LOSS FROM OPERATIONS (48,487,429) Accumulated other comprehensive loss 156,884 OTHER INCOME (EXPENSE) Gain (loss) on revaluation of assets 5,261,267 Retained earnings (deficit) (127,803,265)

TOTAL SHAREHOLDER'S EQUITY (50,401,966) RETAINED EARNINGS (DEFICIT) AT BEGINNING OF YEAR (84,577,103) PRIOR YEAR ADJUSTMENTS -

TOTAL LIABILITIES AND SHAREHOLDER'S EQUITY 424,240,113 Valuation difference -RETAINED EARNINGS (DEFICIT) AT END OF YEAR (127,803,265)

Fonkoze USA

Fonkoze USA is a 501(c)(3) dedicated to securing financial and technical support for its Haitian partners. It raises money to support programs and acts as a channel for socially responsible investors who want to invest in Fonkoze’s loan fund by lending their money at subsidized interest rates. Fonkoze USA gives American donors all the tax advantages American non-profits can provide, while also conducting the necessary due diligence on Fonkoze’s operations.

Fiscal Responsibility1�

Global Solutions

Fonkoze USA

STATEMENTS OF FINANCIAL POSITION STATEMENT OF ACTIVITIESExpressed in US Dollars on 12/31/2007 for the year ended December 31, 2007

CURRENT ASSETS REVENUES Unrestricted Temp Restricted TotalCash and cash equivalents 274,199 Contributions 474,374 391,814 866,188 Interest receivable 21,787 GrantsLoans receivable - current portion 237,600 Conference & Delegation 10,490 10,490 Prepaid expenses 1,952 Interest and dividend income 47,802 47,802 Other receivables 6,652 In-Kind contributionsTOTAL CURRENT ASSETS 542,190 Realized gain (loss) on investments (2,328) (2,328)

Unrealized gain (loss) on investments 3,958 3,958 PROPERTY AND EQUIPMENT Other income 1 1 Software 7,941 Net assets released from restrictions: 370,010 (370,010) Less: Accumulated Depreciation (221) TOTAL REVENUES 904,307 21,804 926,111

7,720 EXPENSES

INVESTMENTS 71,373 PROGRAM SERVICESLOANS RECEIVABLE - less current portion 1,762,560 Grants to Fondasyon Kole Zepol 425,436 425,436 TOTAL ASSETS 2,383,843 Grants to Haiti Development Partners 63,948 63,948

Education 167,498 167,498 LIABILITIES AND NET ASSETS Other Program Expenses 18,466 18,466 CURRENT LIABILITIES TOTAL PROGRAM SERVICES 675,348 675,348 Accounts payable 17,841 Grants payable 77,739 SUPPORTING SERVICESInterest Payable - Fundraising 142,870 142,870 Loans payable - investors, current portion 252,600 adminstration 86,222 86,222 TOTAL CURRENT LIABILITIES 348,180 TOTAL SUPPORTING SERVICES 229,092 229,092 LOANS PAYABLE - INVESTORS, less current 1,777,560 TOTAL EXPENSES 904,440 904,440 TOTAL LIABILITIES 2,125,740

CHANGE IN NET ASSETS (133) 21,804 21,671 NET ASSETS NET ASSETS AT BEGINNING OF YEAR 236,432 236,432 Unrestricted 177,522 NET ASSETS AT END OF YEAR 236,299 21,804 258,103 Unrestriced - Board designated 58,777 Temporarily Restricted 21,804 TOTAL NET ASSETS 258,103 TOTAL LIABILITIES AND NET ASSETS 2,383,843

Mark SchoeppnerJulian and Ruth SchroederSisters of Charity of Leavenworth, KS

$10,000-$24,999Matt and Margaret BalitsarisH Fred ClarkAlex CountsFonkoze Development Fund, Philadelphia, PAFund for the Poor, Inc.Kindergarten Unit, Inc.

$5,000-$9,999 AnonymousThe Bascom FoundationAnna and Jerry BedfordElaine BellinCynthia and John BordersChurch of the Epiphany Ten Percent Committee,

Louisville, KYMaryann and Samuel EllsworthKaminer Family FoundationFirst United Methodist Church of Germantown, PAFonkoze AlbanyMarcia and Larry JilkJohn XXIII Retreat Center, Hartford City, INKunkel Family FoundationDavid NealySociety of the Sacred Heart, United States ProvincePhyllis and Richard TaylorBarbara and Sam Toumayan Barbara Webster

$2,500-$4,999 AnonymousThe First Presbyterian Church, Granville, OHVermont Community FoundationB. Jean FortFriends of HaitiElizabeth LowellMCE CorporationProliteracy

EndowmentJerry and Anna Bedford

Benefactors$100,000Gary and Mary BeckerConcern WorldwideConsultive Group to Assist the Poor (CGAP)Florida Association for Volunteer Action in the

Caribbean and the Americas (FAVACA)Inter-American Development BankPlan InternationalSeachangeUnited States Agency for International Development

$50,000-$99,999Lucy Billingsley Geneva GlobalInternational Fund for Agricultural DevelopmentLinked FoundationSt. Boniface Haiti FoundationSERVHAITIVista Hermosa Foundation

$25,000-$49,999 American Jewish World ServiceMareda W. BabcockBlack Unity and Spiritual Togetherness (BUST)Marie and Robert FehribachBernice GalbreathCatherine and Vincent GallagherGrameen FoundationHabitat for Humanity International

Our Supporters1�The Fonkoze Family has made every effort to accurately acknowledge our benefactors. If we have made a mistake, please

let us know so we can correct it in our next annual report. We cherish every donor at every level of giving. Thank you.

Mary A. NovasconeMarie Florence Shadlen, MD

$1,000-$2,499Greg Adams and Marie BornNina AlexanderThe Allemall Foundation, Inc.Carole Lewis AndersonMichael BaldwinLarry and Barbara BeynaRev. Douglas BrougherCity National Bank of New Jersey Community Foundation of Western Massachusetts –

Nancy KurtzLeatrice D. CrivelloWillie Jones DellMargaret and Charles DemereKeila DePoorterDiocese of RichmondTitia and Bill EllisRay EscoffierExempla St. Joseph HospitalSandra and Bernard ForandElizabeth and Fred FrickGlenda GarrickGlobal Gifts, Inc.The Goodrich-Heck TrustGreen MicrofinanceCorey Hastings Melanie HowardAnna JaquaBonnie KepplingerBradley KingJoan and Nicholas KuhnWendy LangKendra LittleLorilyn S. ColemanGlendon MayoMargaret McDowellPeter Manetti/Ruth KrebsLuce De Vitry-MaubreyJohn MercierNancy Merrell

Jane MerrittSusan MetzRandolph and Jewell MurphyKevin and Penny NesterElizabeth and William OliverPatricia E. Smart TrustSarah PolaMary and Ted PonsetiJohn R. PooleGene and Nancy PrestonLouis and Ramona PrezeauEmily and Chrisley ReedWilliam Resnick, M.D.Randy Ryker and Jeanne BarnardSacred Heart Parish, Southbury, CTSacred Heart Church, Auburn Hills, MISaint Joseph Hospital FoundationKristy and Greg SaundersJoseph SchillmoellerRonald Schroeder, M.D.Fai and Carl SchwarzenbergPam and Mark SemmlerJosie SentnerMary ShandsR. Kehl SinkSisters of the Holy Names, US – Ontario ProvinceRosemary SmithSt. Aloysius Church Corp., New Canaan, CTSt. Clare’s R.C. Church, Albany, NYSt. Rose of Lima Parish, Gaithersburg, MDSt. Thomas Aquinas Church, Freeport, ILCarol and Robert SteinStirrings, Portland, ORSumit Sasidharan and Sharmi SobhanDrs. Jeffrey and Sally Stern, Rebecca SternUniversity of California, Santa BarbaraRichard and Elizabeth Vanden HeuvelJoan VermeulenEmily Wainwright CountsPatricia and Neil WalshJenn Walden Barbara WanderWhite Flowers Foundation

Partnership

Our Voices TogetherPaul Paksarian and Euthemia MatsoukasMarie A. PalladinoWoody Peterson Janice M. PilarskiMr. and Mrs. Rodney PrezeauWilliam Quigley and Debra DupreSaint Kateri Tekakwitha Catholic Church, Tabb, VASisters of St. Francis of the Holy CrossSisters of the Divine Compassion, Bronx, NYSisters of the Holy Names of Jesus & MarySt. Patrick’s Church, Ravena, NYRobin and Joseph StocksUnited Methodist Women of First UMC of

Germantown, PAUrsuline Sisters of Mount Saint Joseph, KYW. P. Carey Foundation, Inc.Anneke WambaughChristine Wasyliko and Christopher HuntleyMarlene Wellington and Anthony GlaserSusan WittwerErin and Karl YaegerH. Berrien Zettler

$250-$499 AnonymousRosalind and Robert AbernathyAcademy of the Holy Names, Albany, NYDeborah and Paul AdamyFrank and Marylee AllenMaryann and Francis BoordErika BourguignonSylvia and Jack BrockmanMirlande ButlerAnne and Thomas CaramanicoJanice ChamberlinDon and Mindy ClaytonWalter DavinJoseph DisciaccaSandie and Arcobaleno DolesMaureen and Roger EarlsEritaj Foundation, Inc.Katleen Felix

18 Our Supporters

Julie WilsonJane S. WoodWriter Family FoundationDixie and Robert YarbroughZutano, Inc.

$500-$999 Madeleine AltamiraJoseph F. BeckmanBethel CollegeShirley BirkholzSarah BlackmunDawn and Marshall BowenLeigh Carter and Andrew SchumanChurch of St. Thomas the Apostle, Delmar, NYCommunitasJoy CousminerJoan and Harold DenklerMolly EllsworthJessica and Paul LustyWilliam and Anne C. EwingPatricia FagenMichael FisherDorothy and Donald FitchGE Foundation - Matching GiftsMaria C. GrifoniMargaret GuntherRenata and John Hahn-FranciniNancy and John HandyGertrude E. HarrisAnne H. HastingsA. M. and E.J. HawkesIda HawkinsEugenia HoyneWilliam JacobTeresa JenningsAmalie KassDorothy KakimotoBen and Betty LeaderPaul R. McClenonCarl Mueller and Richard MayMurray AssociatesBrian O’Neil

$1,000-$2,499 (continued)

Flowing Streams MinistriesNancy and Keith ForsterLon and Tess FryAnthony GoochArlene GradyAlfred Gross, Jr.Judith and Robert HadleySister Susan HadzimaMonica HamrickDiane Hill and Dennis WagnerWilliam and Lorene HolleyJulie HooverJane and David HoskinsJane ImbodenFather Gerry KirbyConstance LesoldBeverly LucasDeborah MackPaul McCarthySally and John McInnesAlice McMahonCecile and Axel MeyerCarol and David MillerSuzanne MillerElizabeth M. Nestor, M.D.Linda NeuenschwanderJane NewtonLynette M. NoonanMary B. O’NeilCamille PageJane and Jim PalmerJane PeckElizabeth PetersonCharlotte Phillips and Oliver FeinDonovan and Katherine PicardMaurice PierreD. Bruce PostChristine RomanikBarbara M. SandersDavid SarrVirginia SchaughnessyThe Scheib Revocable TrustSusan Scholer

Jim SchroeringMs. Susan V. ShipherdAnn SinkSLIBarb and Ken SmithLorraine SmithSocial Justice Committee of Unitarian

Universalist Fellowship, Poughkeepsie, NYJames SteinerDon StollBruce and Karen TaftConnie TurnerCathy UnsinoLouis and Catherine VolpeJanet and Joseph VossMary and Edmund WehrleLawrence T. Young

In-Kind ContributorsShaila Ahmed Jade Benjamin-ChungMarilene Barale Duquesne UniversityEmily Lippert Grameen FoundationJames and Elizabeth HaniganPittsburgh Haiti Solidarity CommitteeEllen Holt Laura and Kevin HornerForrest MooyJohn and Kandy Newell Kate RistrophJoyce Rothermel and Michael DrohanHelaina Stein John SteinmeyerSteven J. Werlin

Education

Loan Fund InvestorsAdrian Dominican SistersAdorers of the Blood of Christ, Wichita, KSAssociation of Pittsburgh PriestsAnne Barstow and Tom DriverBaltimore Ethical SocietyJames BarryCathleen and Richard BernardBeyond BordersBrooklyn Ethical SocietyGloria Callaci and Lawrence Suffredin Jr.Catholic Health InitiativesCarroll and Joseph ClayCongregation of the Sisters, Servants of the IHM,

Scranton, PADr. Charles ConlonRobert CrauderLeatrice CrivelloWalter DavinJoseph and Bonnie DiCarloDominican Sisters of Hope, Newburgh, NYPolly and Peter EdmundsDr. Rosemary EdwardsThomas EllisEthical Society of St. LouisMaheshan FernandoFirst Congregational Church, Sheboygan, WIFriends of the People of Haiti, Geneseo, ILFonkoze Development Fund, Philadelphia, PAPeter Gebhardt-SeeleGrameen FoundationJames GrahamGrey Nuns of the Sacred Heart, Yardley, PAHabitat for HumanityCharles and Therese Hagemann

John and Renata Hahn-FranciniHaiti Solidarity of the NortheastDan HardieJudy and William HarringtonJohn and Margaret HilpertWilliam and Lorene HolleyRobin and Michael HoyIdyll FoundationElizabeth IsraelJoseph IsraelDeborah and Jeffrey KeenanConstance LesoldLoretto Literary and Benevolent InstitutionChristine LowMCAMP, Mercy Partnership FundMary Elizabeth MeehanSusan MetzCecile MeyerMichigan Committee for a Democratic HaitiMid-Atlantic Christian Life CommitteePatricia MillerDr. Fred MontasJeffrey NohnerStephanie NwadieiEleanor OakleyJoan Lea Toms OlsenRice OdellCarol Anne OttoOur Lady of Victory Missionary Sisters,

Huntington, INBrian O’Shaughnessy and Maureen CaseyJoseph and Mary PalenPAX CHRISTI, USASarah PolaJohn R. PooleReformed Church in AmericaMerilie RobertsonMargaret R. Rosenkrands TrustBeatrice RubinJoseph RundSacred Heart Monastery, Yankton, SDSaint Francis of Assisi Microlending Fund,

New Orleans, LAMary Sawers

�0 Our Supporters

Ed SchmidtSeton Enablement Fund, Cincinnati, OHSisters of the Blessed Sacrament, Bensalem, PASisters of Charity, Bronx, NYSisters of Charity of Saint Elizabeth,

Convent Station, NJSisters of the Holy Names of Jesus and Mary,

Albany, NYSisters of the Holy Names of Jesus and Mary, U.S.

– Ontario ProvinceSisters of the Holy Cross, Inc., Notre Dame, INSisters of Mercy of the

St. Louis Regional Community, Inc.Sisters of Notre Dame, Toledo, OHSisters of St. Dominic, Racine, WISisters of the Humility of Mary, Villa Maria, PASisters of St. Francis of PhiladelphiaSisters of St. Joseph of Carondelet, Los Angeles, CASisters of St. Joseph of Carondelet, St. Paul ProvinceSisters of St. Joseph of Carondelet, St. Louis ProvinceSisters of the Sorrowful Mother

International Finance, Inc., Brown Deer, WISisters, Servants of the Immaculate Heart of Mary,

Monroe, MISociety of the Holy Child Jesus, Drexel Hill, PASt. Augustine R.C. Church, Brooklyn, NYSt. Bridget Church Corp., Manchester, CTSt. Maurice Church, Bolton, CTSt. Martin’s School, Gaithersburg, MDW. M. SullivanThe Congregation of the Sisters of Charity

of the Incarnate Word, Houston, TXDoug ThompsonKaren Locke ThomsRev. J. Michelle TooleyRaymond Torres David Tougas and Monica Pacheco-TougasTulsa Community FoundationUnited Methodist Women, Wesley UMC,

Hayward, CAUrsuline Sisters of Tildonk, NYBarbara WebsterGrace WhiteDouglas E. Wingeier

Equity InvestorsAdrian Dominican SistersJames F. BarryGary and Mary BeckerBetter Way FoundationCalvert FoundationCatholic Health InitiativesCity National Bank SharesConcern WorldwideDOEN FoundationDominican Sisters of Springfield, ILDavid W. DortchFonkoze Employee TrustAnne H. HastingsChantal Hudicourt EwaldHenry Kaminer, M.D.Loretto Literary and Benevolent InstitutionThe Estate of Gordon McCormickJohn and Christine McKayMennonite Economic and Development AssociatesOikocreditJoseph B. Philippe, CSSpLouis E. PrezeauWilliam and Erin RouseJulian and Ruth SchroederJosie SentnerSharmi SobhanSisters of St. Joseph of Carondolet, Generalate

Corporation, St. Louis, MOSisters, Servants of the Immaculate Heart of Mary,

Immaculata, PASociety of the Holy Child Jesus American Province, Drexel

Hill, PAKathleen Wright, SL

Courage

Locations and Leadership

The Fonkoze Branch NetworkCrEoLE / FrEnCH

Beladè / BelladèreBizoton / Bizoton

Bomon / BeaumontBoukànkare / Boucan Carré

Fondwa / Fond-OiesGonayiv / Gonaïves

Gwomòn / Gros MorneKabarè / Cabaret

Latwazon / La ToisonMarigo / Marigot

Miragwàn / MiragôaneSen Michèl /

St. Michel de Lattalaye Sodo / Saut d’Eau

Twen / TrouinTwoudinò / Trou-du-Nord

Tyòt / Thiotte Lenbe / Limbé

Gantye / GanthierFondeblan / Fond-des-Blancs

Ench / HincheFòlibète / Fort Liberté

Jakmèl / JacmelJeremi / Jeremié

Lagonav / La GônaveLavale / La Vallée

Leyogàn / LéoganeMibalè / MirebalaisOkap / Cap-Haïtien

Okay / Les CayesPiyon / Pignon

Pòdpè / Port-de-PaixPonsonde / Pont Sondé

Pòtoprens / Port-au-PrinceWanament / Ouanaminthe

Pòmago / Port Margot Tomonn / Thomonde

Fondasyon Kole Zepòl119 Ave Christophe

Pòtoprens, Haiti509.�.513.908�

www.fonkoze.org

Sèvis Finansye Fonkoze119 Ave Christophe

Pòtoprens, Haiti509.�.���.1907

www.fonkoze.org

Fonkoze USA 50 F Street, NW Suite 810Washington, DC �0001

�0�.��8.9033www.fonkoze.org

Branches Opened

Branches to be opened in �th quarter �008

��

FonDASyon KoLE ZEPòLAnne Hastings, Director

BoArD oF DIrECTorSJoseph B. Philippe, CSSp,

Coordinator Danielle Belair,

Assistant Coordinator Carine Roenen, MD, Treasurer Marie Deleure Jean,

General Secretary Dukentia Paul ,

Assistant Secretary Clamie Blanc,

Organization Representative Magalie Bretous, Advisor Junette Estilien, Advisor Guerda Util,

Timachann Representative

CrEDITSFonkoze’s �007 Annual Report was conceptualized, designed, written and photographed by Peg Fourré, Peg Fourré Communications.

Contributing editors include Anne Hastings, Leigh Carter, and John Mercier.

The photograph on page 10 was donated by Donna Williams, Donna Williams Photography. The photograph of Fr. Joseph Philippe was donated by Tequila Minsky.

The painting is an original by Haitian artist Jean Idelus Edme commissioned for this annual report.

SèVIS FInAnSyE FonKoZEDanielle Belair, Director

BoArD oF DIrECTorSFather Joseph B. Philippe, CSSp Louis Prezeau Julie Redfern Anne H. Hastings Sharmi Sobhan Josie Sentner Kathleen Wright, SL, CPA

FonKoZE S.A. BoArD oF DIrECTorSFather Joseph B. Philippe, CSSp Anne H. Hastings Louis Prezeau Gordon McCormick (deceased)Julian SchroederChantal Hudicourt Ewald

FonKoZE USAJohn Mercier, PresidentLeigh Carter, Director

BoArD oF DIrECTorS Francois Adrien Claude Alexandre Matt Balitsaris Mary Becker, ChairGary Becker Leigh CarterAlex Counts Brian GatelyAnne H. Hastings Melanie Howard Beverly LucasGordon McCormick (deceased)Joseph B. Philippe, CSSp Michael Rauenhorst

HonorAry BoArDJose Artiga Jerry Bedford Michael McClanen Albert McKnight, CSSp Maryann Boord Dr. Paul Farmer Maureen Fenlon Ruth Messinger Louis Prezeau Marie M.B. Racine Winston Tellis

Fonkoze Family Leadership

Together