2012 - Fonkoze

Commitment.
Resilience.
Results.
Fonkoze Family 2012
Social Impact Report
Annual Report
Contents
1Introduction
FONKOZE’S STAIRCASE OUT OF POVERTY
2 Chemen Lavi Miyò
3 Ti Kredi
Solidarity
4 Business Development
5Education
Health
OTHER FINANCIAL SERVICES
6 SME Lending
Zafèn
Youth Savings and Credit Pilot
7 Savings Services
Transfer Services
Microinsurance Services
RESULTS
8 Social Impact Monitoring Results
FINANCIAL INFORMATION
10Overview
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 Mission
Fonkoze’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.
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FONKOZE FAMILY 2012 ANNUAL REPORT
Commitment. Resilience. Results.
F
anm 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.
A Solidarity client trained as an Alfa monitor instructs a
Unique for our
Business Skills class outside Jakmèl.
identity as a Haitian
institution providing
a post-2010-earthquake effort to
both financial and development
assist our clients in protecting their
services, Fonkoze received
hard-earned gains from disasters. In
international recognition in 2012 for
the innovative programs that make up 2012, Fonkoze served 28,000 clients
our Staircase Out of Poverty. Notably, with Kore W payouts related to
natural disasters, but difficulties with
Global Journal ranked Fonkoze
the pilot’s structure contributed to
#33 out of its top 450 organizations
significant operating losses (see p. 7).
working locally, nationally, and
With the help of our partners
internationally.
Our most important achievements, and supporters, we have recovered
portions of those losses. But hard
of course, remain with the women
work remains. We look forward to
we serve. In 2012, your support as
your continued support as we come
our committed partners and donors
together, with commitment and
enabled us to provide all our clients
resilience, to build a stronger future
with disaster preparedness training,
for our institution and our clients.
to expand our Chemen Lavi Miyò
Next year, Fonkoze will celebrate
program that enables ultra-poor
our 20th anniversary. As we prepare
women to transform their lives, and
to close a chapter on our first twenty
to continue to innovate on behalf of
years as an institution and look toward
Haiti’s rural poor with new healththe future, we receive inspiration from
and youth-oriented initiatives. See
our clients’ rallying cry:
our Results (p. 8–9) for an in-depth
Le lapli a tonbe, nou bonjounnen.
look at the impact our programs have
“When the rain falls, we grow.”
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
FONKOZE FAMILY 2012 ANNUAL REPORT
1
Fonkoze’s Staircase Out of Poverty
F
onkoze’s Staircase Out of Poverty 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 Miyò
Chemen Lavi Miyò ( “the pathway to a
better life”) is the first step on Fonkoze’s
Bebe Geffrard
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
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
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.
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.
continued, page 3
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FONKOZE FAMILY 2012 ANNUAL REPORT
themselves and their families
out of extreme poverty.
Step Two: Ti Kredi
The 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
When you have a business, you feel more proud of
women through a six-month
yourself. You feel like you have courage,” says Ti Kredi
program featuring small
client Hirane Bastien.
loans, quick repayment
In 2012, Fonkoze enabled over
cycles, and education and support at
4,000 Ti Kredi clients to gain business
weekly meetings. To target Ti Kredi
skills and use Fonkoze loans to
clients, Fonkoze uses participatory
expand their microenterprises. After
wealth ranking, a process that enlists
the local community to help identify its completing the six-month program,
92% of Ti Kredi clients continued into
most vulnerable members.
Solidarity lending, the third step on
“Fonkoze encourages us ti
the Staircase Out of Poverty.
machann [market women] who don’t
Given the impact Ti Kredi has on
have anything at all,” says Ti Kredi
the lives of Haiti’s most vulnerable
client Hirane Bastien, who uses
women, as well as the stability the
the increased profits from her Ti
program provides by developing
Kredi-funded small business to buy
strong, dependable loan clients for
drinking water and nutritious food
Fonkoze, we are working to empower
for her three-year-old son.
continued FROM page 2
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.
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 Lending
Often called the “heart” of Fonkoze
lending—and the third step on
our Staircase—Solidarity remains
Fonkoze’s largest and longest-running
microfinance program. Its communitybased 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
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.
FONKOZE FAMILY 2012 ANNUAL REPORT
3
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 Development
At 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
Jistina Victor
and Vilson
Jean-Baptiste
Mother/Daughter Duo
Benefit from Fonkoze’s
Education Program
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.”
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FONKOZE FAMILY 2012 ANNUAL REPORT
“Fonkoze helps people
their increased loan
to progress,” Business
capital and longer loan
Development client
cycles to create thriving
Augusta Charpentier
businesses. The Business
says. “I started off low [in
Development program
Solidarity lending], but
provides opportunities
now I’m saving more and
for Solidarity clients to
more money.” Beginning
move up the Staircase and
with Solidarity loans of $75,
expand their businesses.
Augusta now borrows sums
With loans available to
Business Development
as large as $1,750 to run a
men as well as women, it
client Augusta
neighborhood food stand
also provides established
Charpentier
outside of Jakmèl. With her
business owners who are
not already clients of Fonkoze—such as profits, she and her husband are working
to expand the house they built together.
agricultural cooperatives—with a way
In 2012, Fonkoze’s Business
to find funding to continue to grow
Development program enabled 425
their businesses. Fonkoze’s Business
Development loans help entrepreneurs clients like Augusta to act as economic
leaders in their communities, forming
generate essential economic activity
the vital base for economic success in
and create jobs in rural areas
rural Haiti.
throughout Haiti.
goods,” explains Jistina. She and her
While Vilson’s class feels like a
classmates learn basic concepts like
family, she also has an actual family
profit margins that many ti machann
member among her students—her
mother. Jistina Victor first started the do not consider when conducting
their operations.
Alfa program last September, when
Both Vilson and Jistina joined
she decided that she wanted to learn
Fonkoze eleven years ago to help
how to read and write.
them augment their businesses.
“My daughter was a teacher, but
continued, page 5
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.
Mother-daughter duo Jistina Victor and Vilson
“[The class] is good for
Jean-Baptiste are two of 10,960 women served
by Fonkoze’s Alfa program in 2012. A certified
us for conducting business
instructor, Vilson teaches Business Skills to
because it teaches us
approximately 20 women, including her
how to buy and resell
mother, Jistina.
Supporting Services
Education
Over 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
continued FROM PAGE 4
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.”
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.
Health
In 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—
the pilot seeks to continue our longstanding commitment to providing
more than loans to our clients. Our
Health department’s other initiatives
include a reading glasses microbusiness 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.
6,892,380
69,000
Vitamin A*
Multivitamins
Prenatal vitamins
Micronutrient
Powder
19,145
1,701
NUMBER OF
CLIENTS SERVED
526
69,000
306,180
90,245
NUMBER DISTRIBUTED
IN 2012
* 6-month supplement distributed biannually
FONKOZE FAMILY 2012 ANNUAL REPORT
5
Other Financial Services
I
SME Lending
n working to create economic opportunities for Haitians, Fonkoze
has increasingly sought to fill a
key gap: the small and medium
enterprise (SME) sector. While
ti machann (“market women”) represent the heart of Fonkoze lending,
they cannot drive the type of growth
necessary to generate jobs for a population 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 program’s microfinance methodology and
management capacity.
Zafèn
Zafèn (“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
6
FONKOZE FAMILY 2012 ANNUAL REPORT
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 Pilot
In 2012, Fonkoze launched the pilot
for an exciting new initiative: two
complementary programs to provide
Haitian youth with access to financial
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 Services
Fonkoze’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 Services
In 2011, transfers and remittances
accounted for approximately 21%
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%.
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 Services
Our 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.
FONKOZE FAMILY 2012 ANNUAL REPORT
7
Results
W
e cannot discuss building resilience without
a way to measure
progress. That’s where
our Social Impact
Monitoring team comes in. Our dedicated 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
Ti Kredi graduate Myrthe Desvarieux displays her merchandise. In 2012, over 4,000 Ti
Kredi clients successfully completed the program.
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
Chemen Lavi Miyò Members
Graduation
The 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 situation
k the ability to provide her family with at least two meals a day
k all of her children in school
k an income and an active savings account
k good health for herself and her children
k a solid plan for the future
8
FONKOZE FAMILY 2012 ANNUAL REPORT
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.
Number of 2012 graduates 1,000
All these graduates ended the program with an active savings account,
and approximately 80% of them continued into the Ti Kredi program.
2012 graduation rate
96% for all women who
96%
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%
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.
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
Food Secure
Food Insecure
without hunger
Food Insecure
with hunger
Percent living
below $2/day
Percent living
below $1/day
Average savings
7%
17%
incoming
CLIENTS
76%
64%
81%
54%
59%
76%
14%
32%
Graduating
CLIENTS
Cement
floor
Tin roof or better
incoming
CLIENTS
Sanitary toilet/latrine
Send all children
to school
Can read
and write
48%
97%
95%
Graduating
CLIENTS
55%
Solidarity Clients
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
After three years in the
Solidarity program
89%
53%
25%
66%
After one year in the
Solidarity program
81%
25%
63%
On entering the
Solidarity program
Access to piped
or well water
39%
86%
95%
Own small assets
like a radio or TV
3%
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.
Poverty Level
Clients living on less than $1/day
On entering the
Solidarity program
60.8%
After one year in the
Solidarity program
48.3%
After three years in the
Solidarity program
47.9%
Clients living on less than $2/day
44%
58%
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.
On entering the
Solidarity program
80.2%
After one year in the
Solidarity program
64.2%
After three years in the
Solidarity program
64.4%
FONKOZE FAMILY 2012 ANNUAL REPORT
9
Our Financial Results
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 S.A. and Subsidiary
Sèvis Finansye Fonkoze
èvis 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 departments, 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 million. 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
S
10
FONKOZE FAMILY 2012 ANNUAL REPORT
services to Haiti’s poorest.
Fondasyon Kole Zepòl
2012 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,
Fonkoze USA
2012 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.
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
September 30, 2012
December 31, 2011
December 31, 2010
317,549,974
40,916,094
230,824,709
527,018,592
(56,821,319)
470,197,273
109,761,198
66,940,802
1,236,190,050
326,371,476
17,757,084
183,426,729
572,427,606
(17,676,554)
554,751,052
84,738,080
72,897,230
1,239,941,651
523,007,904
7,939,743
242,432,651
462,345,393
(13,870,362)
448,475,031
63,538,850
65,967,982
1,351,362,161
1,097,884,949
139,797,143
141,652,127
1,379,334,219
913,584,016
71,074,910
214,444,419
1,199,103,345
836,627,288
41,528,893
443,931,449
1,322,087,630
Capital Stock and Paid in Capital
Retained Earnings (deficit)
Accumulated Other Comprehensive Gain
Total Shareholders’ Equity
224,770,968
(370,718,380)
2,803,243
(143,144,169)
171,576,377
(131,349,949)
611,878
40,838,306
149,592,719
(120,880,574)
562,386
29,274,531
Total Liabilities And Shareholders’ Equity
1,236,190,050
1,239,941,651
1,351,362,161
41.7757
40.5228
39.6511
Nine Months Ended
September 30, 2012
Year Ended
December 31, 2011
Year Ended
December 31, 2010
Interest Income (Loans and Other)
Interest Expense
Net Interest Income
Provision for Loan Losses
Net Interest Income After Provision for Loan Losses
Other Operating Income
Total Revenues
156,792,814
(12,543,267)
144,249,547
(60,419,561)
83,829,986
118,402,859
202,232,845
201,286,352
(15,068,996)
186,217,356
(12,379,139)
173,838,217
142,704,352
316,542,569
123,707,447
(10,034,337)
113,673,110
(22,243,925)
91,429,185
74,888,593
166,317,778
OPERATING EXPENSES
430,166,445
364,400,815
206,385,768
(227,933,600)
4,227,538
(15,662,369)
(239,368,431)
(239,368,431)
(47,858,246)
40,388,078
(2,999,207)
(10,469,375)
(10,469,375)
(40,067,990)
140,219
13,489,380
(26,438,391)
98,423,859
(29,527,158)
42,458,310
ASSETS
Cash and Equivalents
Investments
Accounts Receivable
Gross Loan Portfolio Outstanding
Less Allowance for Loan Loss
Net Loan Portfolio Outstanding
Net Fixed Assets
Other Assets
Total Assets
LIABILITIES
Deposits
Notes Payable
Other liabilities
Total Liabilities
SHAREHOLDERS’ EQUITY
INCOME STATEMENT
All amounts are expressed in Haitian gourdes (HTG)
Exchange Rate HTG/USD (Average Exchange Rate during reporting period)
REVENUES
Net Loss from Operations Before Income Tax
Other income
Provision for Income Tax
Net Loss Before Extraordinary Items
Extraordinary Items
Provision for Income Tax on Extraordinary Items
Net Income (Loss) from Operations
FONKOZE FAMILY 2012 ANNUAL REPORT
11
Fondasyon Kole Zepòl
STATEMENT OF FINANCIAL POSITION
All amounts are expressed in Haitian gourdes (HTG)
Exchange Rate HTG/USD at end of reporting period
42.5530
40.9734
39.8817
Year Ended
December 31, 2012
Year Ended
December 31, 2011
Year Ended
December 31, 2010
101,880,423
69,738,160
74,241,239
2,408,017
2,408,017
6,521,909
10,991,975
265,781,723
115,338,195
119,115,805
92,105,290
68,188,825
(2,386,579)
65,802,246
25,618,618
33,135,168
451,115,322
276,706,967
68,702,506
70,802,795
110,689,151
(9,701,622)
100,987,529
34,821,817
51,405,187
603,426,801
55,320,396
191,793,171
247,113,567
138,920,211
109,980,291
141,307,652
390,208,154
219,294,169
97,407,045
196,828,690
513,529,904
Unrestricted
Temporarily Restricted
Permanently Restricted
Total Net Assets
(128,776,262)
147,444,418
18,668,156
(41,278,240)
83,052,077
19,133,331
60,907,168
(48,857,854)
119,949,207
18,805,544
89,896,897
Total Liabilities And Net Assets
265,781,723
451,115,322
603,426,801
ASSETS
Cash and Equivalents
Investments
Accounts Receivable
Gross Loan Portfolio Outstanding
Less Allowance for Loan Loss
Net Loan Portfolio Outstanding
Net Fixed Assets
Other Assets
Total Assets
LIABILITIES
Deposits
Notes Payable
Other liabilities
Total Liabilities
NET ASSETS
STATEMENT of activities
All amounts are expressed in Haitian gourdes (HTG)
Exchange Rate HTG/USD (Average Exchange Rate during reporting period)
41. 9493
40.5228
39.6511
Year Ended
December 31, 2012
Year Ended
December 31, 2011
Year Ended
December 31, 2010
Interest Income (Loans and Other)
Interest Expense
Net Interest Income
Provision for Loan Losses Net of Recoveries of Loans Previously Written Off
Net Interest Income After Provision for Loan Losses
Other Operating Income (Expense)
Grants From Donors
Capital Grant Contribution
Total Revenues
14,002,211
(3,361,701)
10,640,510
(1,325,776)
9,314,734
(29,209,548)
219,524,676
199,629,862
41,101,507
(6,202,508)
34,898,999
4,668,944
39,567,943
40,530,732
285,726,617
327,787
366,153,079
33,121,079
(4,721,643)
28,399,436
(7,893,407)
20,506,029
67,845,815
155,651,849
418,758
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
-
9,290,039
-
(42,239,013)
(28,989,729)
40,781,594
-
-
463,033,976
(457,043,363)
(42,239,013)
(28,989,729)
46,772,207
REVENUES
Other Income - related party debt forgiveness
Change in Net Assets Before Extraordinary Items
Extraordinary Items
Earthquake Grants and Donations
Expenses Due to Earthquake
Total Change in Net Assets
12
FONKOZE FAMILY 2012 ANNUAL REPORT
Fonkoze USA
STATEMENT OF FINANCIAL POSITION
All amounts are expressed in U.S. Dollars
Year Ended
December 31, 2012
Year Ended
December 31, 2011
Year Ended
December 31, 2010
$ 713,589
2,013,758
6,057
2,733,404
$ 1,048,769
1,423,336
24,828
2,496,933
$ 1,117,671
826,908
43,861
1,988,440
7,204
1,168,376
2,347,525
10,846
$ 6,267,355
9,676
385,669
1,083,733
10,846
$ 3,986,857
8,227
318,342
1,523,966
10,846
$ 3,849,821
$ 1,283,761
2,091,511
$ 3,375,272
$ 1,385,324
1,088,733
$ 2,474,057
$ 755,328
1,503,966
$ 2,259,294
Unrestricted
Unrestricted - Board Designated for Endowment
Temporarily Restricted
Permanently Restricted for Endowment
Total Net Assets
$ 662,323
569,776
1,562,984
97,000
$ 2,892,083
$ 578,521
543,624
293,655
97,000
$ 1,512,800
$ 970,437
155,924
417,166
47,000
$ 1,590,527
Total Liabilities And Net Assets
$ 6,267,355
$ 3,986,857
$ 3,849,821
Year Ended
December 31, 2012
Year Ended
December 31, 2011
Year Ended
December 31, 2010
$ 4,649,696
69,103
118,287
$ 4,837,086
$ 2,116,547
58,465
68,706
$ 2,243,718
$ 4,761,128
65,543
103,063
$ 4,929,734
$ 3,003,163
$ 1,810,163
$ 3,720,641
SUPPORTING SERVICES
Fundraising
Administration
Total Supporting Services
Total Expenses
236,339
218,301
454,640
$ 3,457,803
188,376
322,906
511,282
$ 2,321,445
151,207
246,880
398,087
$ 4,118,728
Change In Net Assets
$ 1,379,283
$ (77,727)
$ 811,006
ASSETS
Cash and Equivalents
Short-term Receivables
Prepaid Expenses
Total Short-Term Assets
Net Property and Equipment
Investments
Long-term Receivables
Other Assets
Total Assets
LIABILITIES
Short-term Payables
Long-term Payables
Total Liabilities
NET ASSETS
STAtement of activities
All amounts are expressed in U.S. Dollars
REVENUES
Contributions and Grants
Interest & Dividend Income
Other Income
Total Revenues
EXPENSES
PROGRAM SERVICES AND GRANTS TO HAITI
FONKOZE FAMILY 2012 ANNUAL REPORT
13
Honoring Our 2012 Donors & Investors
F
onkoze 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 dedication to empowering Haitians to lift themselves out of poverty.
Alexander and Emily Counts
Baldwin Brothers
Rebecca and James Langer
Claudine and Bernard
Dussert
M. Judith Billings
Lexxor, LLC
Ray Escoffier
C. Douglas Blanchard
Emily Lippert
John W. Bloom
Paul and Kathleen C. Fuhs
Ann L. Breeden and Edna
Johnston
Loretto Literary &
Benevolent Inst., Littleton,
CO
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!
Gabriel Goffman
Christine S. Breu
William and Jean Graustein
Fund
Reverend Douglas C.
Brougher
Leigh Hardiman and Peter
Mostow
Arden R. Brugger
Melanie and Robert Howard
$100,000 or more
Anonymous
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
Daniel F. Capshaw and
Linnea M. Nilsen Capshaw
Zanmi Fonkoze
Richmond, VA
City National Bank of
New Jersey
Theodore Janulis
Christ United Methodist
Church, East Moline, IL
David T. and Kelli W. Jones
Drs. H. Fred and Karen Clark
Collis Warner Foundation
Janusz Korczak Memorial
Fund of the Vermont
Community Foundation,
Robert and Mary Belenky
Advisors
Dana S. and Neil M. Cohen
Local 600 UAW
Constance Costas
Donald B. and Carol L. Post
Alice T. Davison and Howard
Tomb
$25,000—$49,999
American Jewish World
Service
Congregation of the Holy
Spirit, Hemet, CA
Elizabeth L. Daniels
David and Carrie Dortch
Daniels Family Foundation
Gruber Family Foundation
Robert Dulaney
International Development
and Relief Foundation
Therese Feng
First United Methodist
Church of Germantown,
Philadelphia, PA
Grand Challenges Canada
$10,000—$24,999
Interamerican Development
Bank (IADB)
Abundance Foundation
Haiti Connection, Newman
Catholic Center
Micro Catastrophe Risk
Organization (MiCRO)
Byron Nimocks and Emilie
Murphy
Mennonite Economic
Development Associates
(MEDA)
Charities Aid Foundation of
America
Global Partnerships
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
14
Chantal Hudicourt Ewald
Zanmi Fonkoze
Bucks County, PA
Harold Simmons Foundation
Opportunity International
Deutschland
Stephen D. and Mary Ford
Andrew Grene Foundation
Bernice Galbreath
Vincent A. and Catherine M.
Gallagher
Bonnie S. Jones
Jones Family Charitable
Foundation
Kunkel Family Foundation,
Joseph and Nancy Kunkel
Advisors
Elizabeth Lowell
Katarina Mesarovich
Evelyn B. Newell
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
J. H. Cohn LLP
Commonwealth Catholic
Charities, Richmond, VA
Debley Foundation
Margaret and Charles
Demeré
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
Mr. Francoise E. Denis
Daniel and Kathie Molter
Joan C. and Harold L.
Denkler
Moody’s
Corell H. Moore
Glenda Denniston
James J. Moore
Episcopal High School,
Alexandria, VA
Clarele Mortimer
Esperos, Oliver
Shuttlesworth
Lorelei O’Hagan
Regina M. and Neil K.
Fleming
Khamisi Mwaniki
Carrie and Thomas J.
Ohly-Cusack
William E. and Elizabeth D.
Oliver Fund
University of Notre Dame, IN
Fonkoze Development Fund
Richard and Carol Urban
B. Jean Fort
OMC Group
The Waldman Family
Charitable Trust
Margaret Fourre and Larry L.
Anderson
Mary Catherine Kilday
and George W. Malzone
Foundation
Petty Family Fund, Mark E.
and Peyton Petty Advisors
Beth M. Wescott
Elizabeth and Fred Frick
America M. and David H.
Young
William D. and Patricia S. Friel
Karen Norrick
Josie Sentner
Roger and Susan Stone
Family Foundation
The Gross Family Fund,
Kathleen M. Gross Advisor
$1,000—$2,499
Thomas M. Griffin
Irving & Constance Phillips
Charitable Fund
Rebecca W. Adams
SC Ministry Foundation
The Lenore Albom
Microfinance Giving
Program of FWA of New York
Educational Fund
Anne Hastings
David Poetker
Deborah C. and Paul K.
Adamy
Corey Hastings and Jennifer
Walden
Alexa and Peter J. Quinn
All One Family Fund, Titia
Ellis Advisor
Haverford College,
Haverford, PA
Round Hill Hotel and Villas
Neil and Mary Patricia Walsh
All Saints Church, Pasadena,
CA
Ida Hawkins
Mr. and Mrs. B. Briscoe White III
Anonymous
Shelia J. & Rufus M. G.
Williams Charitable Fund
Barbara Appel Irrevocable
Living Trust
C. Jeffrey Wright
Immaculate Heart
Community of Los Angeles,
CA, Social Action Fund
Barbara Ault
Zanmi Fonkoze Santa
Barbara, CA
Serge and Rosa Jean
Jamie Austin
Jefferies & Company, Inc.
James and Edith Babson
$2,500—$4,999
The Paul and Edith Babson
Foundation
Robert O. and Josephine L.
Johnston
Grameen Foundation
Leininger Family Foundation
Listen Well
Pura Llorente and Tom Strong
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
FONKOZE FAMILY 2012 ANNUAL REPORT
Jane N. Newton
Jean-Guy Noel
Pam and Mark Semmler
The Securitas Foundation
Church of the Epiphany c/o
Ten Percent Committee,
Louisville, KY
Palmer P. Garson
Arlene D. Grady
Michael and Margherita
Baldwin
Serge Hyacinthe
Aimie Jones
Ellen M. Kealy
Nancy and Edward Kurtz
Patrick Ophuls
Perfecta and Geoff Oxholm
Elaine L. Pero Trustee
Elizabeth H. Perrin
Pfizer Foundation Matching
Gifts Program
Monica F. Rawles
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
Honoring Our 2012 Donors & Investors
Sharmi Sobhan and Sumit
Sasidharan
Capital Group Companies
Charitable Foundation
Carolyn J. Hubers
Martha S. Sproule
Leigh Carter and Andrew
Schuman
Karen C. Hyland
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
Rev. Msgr. Franklyn Casale
Johnny Celestin
David Pratt Hunt
John F. Hynes
If/When
Marie Clergé
Illinois Tool Works
Foundation 3-For-1
Matching Gift Program
Leroy and Lucy Close
Jacksonville Urban League
Daniel Chatman
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
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
Anne S. and Thomas A.
Robertson
Margaret R. Rosenkrands
Trust
Joseph Schillmoeller and
Pauline M. Feltner
$250—$499
Oluwafemi Fadugba
Rosalind and Robert
Abernathy
Ryan Feller
William Abrams and Julie
Salamon
Jay A. Froberg
Roger Angell
Tanya Schneider
Delores and Mervin Antoine
Dorothy Senerchia
Joseph F. Augustin
Gladys E. Shaw
Darline Augustine
Jean-Emmanuel Shein and
Christiane Janssen
Mr. Phil Bahng and Ms. Grace
Bahng
Seana L. Shiffrin
Venky Balakrishnan Iyer
Barbara Shoulders
Bridget Baratta
Sheryl Sirotnik
Zebulon Bartels and Carla
J. Baccelli
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
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
Marie E. and John M. Foley
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
Leslie and Susan H. Brisman
Edward S. and Mary W.
Herman
Robert Brown
Margaret Hnath-Brown
Dr. Stephen D. Brown and
Ms. Linda B. Brown
William H. and Peggy L. Hoff
Bruce Ford Brown Charitable
Trust, Dr. Stephen D. and
Linda B. Brown Advisors
Perry and Dennis Hooks
Robin S. and Michael Hoy
Cordell and Holly Hull
Tom and Ruth Bushaw
Joseph Israel
Ms. Tabor W. Butler
Karen and Abhinandan Jain
Medical Practice of JeanFrancois & Laroche P. C.
Barbara S. Webster
Lucy Elliot
Mary Elliott Associates Inc
Kathleen and Shawn White
Donetta Epperson
Caroline Wischmann and
David S. Rasner
Kathryn Erickson and Albie
P. Jarvis
Paul J. McCarthy and Orla C.
O’Callaghan
The Leatherman Family
Fund of The Minneapolis
Foundation
Marcia H. McLaughlin
Jane E. Thompson
Zena and Matt CarmelJessup
Laura Roberts Wright
William and Anne C. Ewing
David Mertz
Barbara Tillman
William J. and Mary B. Carry
Harley Jeanty
Mary N. Young
The Messinger Family Fund,
Ruth Messinger
Tomkins Family Foundation
John and Susan Carson
Rolf B. Karlsson
Donna L. and J. James Zocco
Katleen Felix and Pascal
Ranger
Frances and Steve Miller
N L Caruso Family
Foundation Inc
William V. and Mary Ann Kerr
Pamela and Michael Fuhrig
Saba Tseggai
$500—$999
Beverly E. and Gino A. Gattari
Nick and Sylvia Miller
Lacey Properties & Land INC
Carole Lewis Anderson
Gino A. and Beverly E. Gattari
JT Rev Trust
Kathryn J. and William D.
Monday, Jr.
Elizabeth C. and David W.
Champney
GE Foundation - Matching
Gifts
Monthly Meeting of Friends
of Philadelphia,PA
Nancy Glass
L. Glenn and Cecilia O’Kray
Cindy M. Golbert
Kathleen Q. and Kerry B.
O’Quinn
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
Allan I. and Joyce C.
Goldberg
Jean E. and John C. GrantDooley
Barbara Ostrowski and Mary
A. Novascone
Kimberly and Tobey Oxholm
Kathleen Blank-Riether
Richard and Lois Gunther
Fund
Sarah E. Peck
John A. Blaska Trust
Gertrude E. Harris
Christina L. and Douglas C.
Borden
Mary K. Hartman and Noel
Jurgens
Woody Peterson
Catherine F. and Turner M.
Bredrup
Ann M. and Edward J.
Hawkes
Barbara Brockhurst and
Robert Lavoie
Eric and Kristen Headrick
Charles Brown III
Duncan and Janet Campbell
Elliot Hernandez
Judith L. and Harry Hoehler
Cary Hopper
Perrault Rago Gallery
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
David Clark
Concord Academy’s
Microfinanace Group,
Concord, MA
James J. Lawler
Ellen W. Law
Ellen Lazarus
Lyla and Tracy Leigh
Amanda Leiter
June Elizabeth Connolly
Darrell Levi
Jacqueline Cordry
Mariah Levin
Benjamin W. Cornwell
Laura Liebstaedter
Michele R. Costello
Margarete Liebstaedter
Patricia Wood
Thomas Costello
Yeh J. and Frank T. Wu
The Bernadette M. Cronin
and Lawrence H. Geller
Peace and Justice Fund,
Lawrence Geller Advisor
Maria Liza and Peter A.
Lindenberg
Harry Waters
Joel B. Wittenberg and Mary
Ann Ek
Alexandra Poe
Frances K. Wu and Wilburn
Chesser
Louis and Ramona Prezeau
Laura Zanotti
Putnam Barber and Valerie
Lynch Fund at The Seattle
Foundation
David L. and Suzanne M.
Ziegler
Susan E. Ratigan and David
E. Barrosse
Wendy and Eugene Childers
Denise and Bruce Kinder
Laura Zylstra and Todd Garth
N. M. Nuala Crotty
Demusz Brothers Inc
Keila DePoorter
Joseph Disciacca
Barbara DiTommaso
James D. and Dawn A. Engel
Laura Locklin
Lowell School
David Loxterkamp and
Lindsay McGuire
Karen and Thomas Lyon
Sara Madhu
Cathleen Mahon
Jose Maldonado
Nono Maldonado
FONKOZE FAMILY 2012 ANNUAL REPORT
15
Honoring Our 2012 Donors & Investors
Michele and Richard
Matuszewski
Mary J. and Ken Sawers
The Minneapolis Foundation
Peter Mayock
Jane and Charles Sharp
Martha A. and Barry Siegel
National Christian
Foundation Kentucky
Francis of Assisi
Microlending LLC
Joseph Rund
Friends of the People of Haiti
Sacred Heart Monastery,
Yankton, SD
Dylan Simanowitz
Schwab Charitable Fund
Peter Gebhardt-Seele
Ed Schmidt
The Seattle Foundation
Grameen Foundation
Linda Neuenschwander
Sisters of Charity of New
York, Bronx, NY
Triskeles Foundation
Michigan Coalition for
Human Rights
Sisters of Mercy West
Midwest Community
Vanguard Charitable
Endowment Program
Grey Nuns of the Sacred
Heart, Yardley, PA
School Sisters of Notre
Dame, St. Louis, MO
Carol and David Miller
Harvey W. Slager
William K. and Harriet
Mooney
John J. and Elaine M. Smith
Vermont Community
Foundation
Peter Morgan
Bruno and Marie Surpris
Mr. Brian McGeer
John R. Mercier
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
Paul Stephey
Lindsay Swancutt and Calder
Hudson
Linda Tammen
Therese Tangredi
Good Eye Video
Judy and William Harrington
Robin and Michael Hoy
Investors
John & Christine McKay
Adorers of the Blood of
Christ, St. Louis, MO
Josie Sentner
Adrian Dominican Sisters,
Adrian, MI
Dr. Henry Kaminer
Julian & Ruth Schroeder
Charles F. Thomson
James F. Barry
Douglas Viggiano
Matthew T. and Margaret D.
Balitsaris
Paul Beach
Gary & Mary Becker
Michael Komba
Loretto Literary &
Benevolent Institution,
Nerinx, KY
Christine Low
Karen Marysdaughter &
Larry Dansinger
Mennonite Economic
Development Associates
Rosemary J. and Bruce M.
Wentworth
Beyond Borders
Sue and Lewis Werlin
Calvert Foundation
Mercy Partnership Fund,
Oakland, CA
Carol Anne Otto
Susan Metz
Catholic Health Initiatives
Cecile Meyer
Chantal Hudicourt Ewald
Michigan Committee for a
Democratic Haiti
David Peyton
George A. Whitley
Katherine and B. Donovan
Picard
Lawrence T. Young
Quaker Capital Management
Sisters of Charity of Saint
Elizabeth, Convent Station,
NJ
Baltimore Ethical Society
Irlene Whiteman
Stephanie L. Quade
Haitian Microfinance, Inc.
Thomas J. and Gail M. Thelen
Andrea Paulson
Debra Pruitt
Cathy Tullidge
The Lifshutz Foundation
Dana Whitaker
Mr. and Mrs. Rodney Prezeau
Alexa Quinn
Constance Lesold
Kate S. Yonkers and Kelly
D. Welch
The Sandy & Margy Zabriskie
Fund, Marguerite and
Alexander Zabriskie Advisors
Donor Advised
Foundations
Bon Secours Health System
Timothy Cimino
City National Bank Shares
Carroll and Joseph Clay
Congregation of the Sisters,
Servants of IHM, Scranton, PA
Charles Conlon
Mary Elizabeth Meehan
Mid-Atlantic Regional
Christinan Life Community
Patricia Miller
Ayco Charitable foundation
Renaissance Charitable
Foundation Inc.
Leatrice Crivello
Boston Foundation
Barbara DiTommaso
Calvert Social Investment
Foundation
Dominican Sisters of Hope,
Ossinig, NY
The Chicago Community
Foundation
Dominican Sisters of
Springfield, IL
Our Lady of Victory
Missionary Sisters,
Huntington, IN
The Community Foundation
for The National Capital
Region
David W. Dortch
Joseph & Mary Palen
Robert W. Dulaney
Fidelity Charitable Gift Fund
Barbara F. Resnek
Daniel R. Robinson and
Cathy M. Collie
Kripalu
Sisters of St. Dominic,
Racine, WI
Lyla and Tracy Leigh
Sisters of St. Francis of
Philadelphia, Aston, PA
Round Hill Hotel and Villas
Sisters of St. Joseph of
Carondelet, St. Louis, MO
Lowell School
Palmer P. Garson
Vitamin Angels
Zanmi Lasante
Sisters of St. Joseph of
Carondelet, St. Paul, MN
Audubon Society
Sisters of the Blessed
Sacrament, Bensalem, PA
Josie Sentner
Sisters of the Holy Cross Inc.,
Notre Dame, IN
Paul and Jessica Lusty
Frances Wu
Laura Wright
Sisters of the Holy Names of
Jesus & Mary U.S.-Ontario
Province
Sister Rose Gallagher
Sisters of the Humility of
Mary, Villa Maria, PA
Endowments and
Memorials
Whole Foods River Road
Sisters, Immaculate Heart
of Mary
The Jerry and Anna Bedford
Endowment Fund
Sisters, Servants of the
Immaculate Heart of Mary,
Monroe, MI
H. Fred Clark Memorial Fund
Sharmi Sobhan
Society of the Holy Child
Jesus, Rosemont, PA
Thomas M. Rauch
Jill and Stephen M.
McDonnell
Laura Stephens
Nazareth Literary and
Benevolent Institution,
Nazareth, KY
Charles Rardin and Jane Sharp
Edna Johnston
Sisters of Notre Dame of
Toledo, OH
Society of the Holy Child
Jesus
Virginia S. Coyle
Alice Renouf
Sisters of Charity of the
Incarnate Word, Houston, TX
Fred Montas
American Endowment
Foundation
Robert Crauder
Aimie Jones
Sisters of Charity of New
York, Bronx, NY
Alternative Insurance
Company
Kathryn M. Waldyke
Carol Lewis Anderson
Haiti Solidarity of the
Northeast
Kimberly McCormick
Therese J. Terns
Akin Gump Strauss Hauer &
Feld LLP
Seton Enablement Fund
Alternative Gifts
International
Phyllis B. and Richard K.
Taylor
Mary J. Paul
Junius Powell, Jr.
World Vision
In-Kind Donors and
Volunteers
Jane N. Newton
St. Augustine R.C. Church,
Brooklyn, NY
Oikocredit, Ecumenical
Development Cooperative
Society, U.A.
St. Bridget Church,
Manchester, CT
St. Martin de Porres Catholic
Worker House
Lawrence J. Suffredin Jr. and
Gloria Callaci
Bob and Marie Fehribach
Memorial Fund
Raymond and Lise Giraud
Memorial Fund
Shoulder to
Shoulder Legacy
Society
Anonymous
Jerry and Anna Bedford
Leigh Carter and
Andrew Schuman
Alexander and Emily Counts
Margaret Demere
Pax Christi USA
Finian Taylor Revocable
Living Trust
Barbara DiTommaso
Polly and Peter Edmunds
Peace and Justice Book Club
Doug Thompson
Rosemary Edwards
John R. Poole
Brian and Diana Lovett
FJC
Rev. J. Michelle Tooley
Thomas Ellis
Rebecca Brune
Joe and Mary Palen
Goldman Sachs Funds at
Goldman Sachs Gives
Jean and Vance Reese
Peg Rosenkrands
Jewish Communal Fund
Ethical Action Committee
of St Louis
Tulsa Community
Foundation
Dzenita M. and Edin
Saracevic
Jewish Community
Foundation
Fitzpatrick Family
Foundation
David Sarr
The Jewish Community
Foundation of the East Bay
Fonkoze Employee Trust
Martin County Community
Foundation
Fonkoze USA
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
Jane H. and Ronald E.
Saunier
16
FONKOZE FAMILY 2012 ANNUAL REPORT
Fonkoze Foundation
Reformed Church in
America, Grand Rapids, MI
Religious Communities
Investment Fund Inc.,
Oakland, CA
Merilie Robertson
William and Erin Rouse
Untours Foundation
Ursuline Sisters of Tildonk,
Jamaica, NY
Barbara Webster
Douglas E. Wingeier Trust
Anne H. Hastings
2012 Fonkoze Leadership
Fonkoze Family Senior Staff
Carine Roenen
Director, Fondasyon Kole Zepòl
Anne H. Hastings
Chief Executive Officer, Sèvis Finansye Fonkoze
Leigh Carter
Executive Director, Fonkoze USA
Fonkoze Board of Directors
Joseph B. Philippe, CSSp, Coordinator
Leila Lubin
Frednel Isma, Treasurer
Marie Deleure Jean Plaisival, General Secretary
Marie Léone Démosthène, Assistant Secretary
Obény Rose
Guerda Eustache
Thony Fleury
Mérelus Yodeline
Junette Estilien
Dominique Boyer, SFF Representative
Sèvis Finansye Fonkoze Board of
Directors
Father Joseph B. Philippe, CSSp, President
Anne Hastings, Secretary/Treasurer
Julie Redfern
Mary Jo Sentner
Ben Simmes
Kathleen Wright, SL, CPA
Daniel Godefroy
Fonkoze S.A. Board of Directors
Father Joseph B. Philippe, CSSp
Anne H. Hastings
Julian Schroeder
Chantal Hudicourt Ewald
Fonkoze USA Board of Directors
Claude Alexandre
Matt Balitsaris, Vice Chair
Heather Balke
Leigh Carter
Alex Counts, Chair
Therese Feng, Treasurer
Madeleine Féquière
Melanie Howard, Secretary
Father Joseph B. Philippe, CSSp
Jean-Guy Noel
Daniel Robinson
Neil P. Walsh
C. Jeffrey Wright
Laura Roberts Wright
David Garfunkel, Board Fellow
Fonkoze Family Coordinating Committee
Representing Fonkoze USA
Alex Counts, Co-Chair
Jean Guy Noel
Representing Fondayson Kole Zepòl
Dominique Boyer
Marie Plaisival
Dr. Florence Jean-Louis
Representing Sèvis Finansye Fonkoze
Stefan Harpe
Josie Sentner
Chantal Hudicourt Ewald, Legal advisor
Julian Schroeder, Co-Chair
Invited Staff
Anne Hastings, Chief Executive Officer, SFF
Carine Roenen, Director, Fonkoze
Leigh Carter, Executive Director, Fonkoze USA
Honorary Board of Directors of
Fonkoze USA
Jose Artiga
Jerry Bedford
Mary Becker
Gary Becker
Maryann Boord
Dr. Paul Farmer
Maureen Fenlon, OP
Brian Gately
Beverly Lucas
Michael McClanen
Father Albert McKnight, CSSp
Ruth Messinger
Louis Prezeau
Marie M.B. Racine
Michael Rauenhorst
Winston Tellis
Anne Hastings, Emeritus
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.
Pòdpè
Pomago
Jan Rabèl
Gwomòn
Lenbe
Fòlibète
Okap
Twoudinò
Milo
Gonayiv
Credits
FONKOZE BRANCH
Editorial Team
Linda Boucard
Matthew Brown
Leigh Carter
Charles Gravitz
Mackenzie Keller
Lyla Leigh
Carine Roenen
Steve Werlin
Marta VanderStarre
Laura Zylstra
Photography
Darcy Keifel
www.kiefelphotography.com
Ponsonde
Piyon
Montòganize
Ench
Tirivyè
Tomonn
Boukàn Kare
Mibale
Beladè
Sodo
Lagonav
Kabarè
Latwazon
Jeremi
Pòtoprens
Bomon
Ti Rivye d’Nip
Aken
Okoto
Okay
Fondèblan
Gantye
Leyogàn
Miragwan
Bizoton
Twen
Design
Brad Latham
Wanament
Sen Rafayel
Sen Michel
Fondwa
Lavale
Marigo
Fonverèt
Tyot
Jakmèl
Ansapit
FONKOZE FAMILY 2012 ANNUAL REPORT
17
Fondasyon Kole Zepòl
Sèvis Finansye Fonkoze
Fonkoze USA
119 Avenue Christophe
119 Avenue Christophe
Port-au-Prince, Haiti
Port-au-Prince, Haiti
505 (from Haiti)
505 (from Haiti)
1700 Kalorama Road NW, Suite 102
Washington, DC 20009
202.628.9033
1.800.293.0308 (from US)
1.800.293.0308 (from US)
www.fonkoze.org
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.
Fonkoze USA
participates in the
Combined Federal
Campaign.
# 31204