fonkoze family 2010 annual report

2010 Annual Report

FONDASYON KOLE ZEPÒL | SÈVIS FINANSYE FONKOZE | FONKOZE USA

Let’s reflect once more on the year 2010. In Haiti, we will never forget the events of that year, especially the earthquake

of January 12th. We recall with reverence the lives lost at Fonkoze and throughout Haiti, and the suffering of hundreds of thousands of unsuspecting men, women, and children. We will never forget the individuals and organizations that came to Haiti’s side. At Fonkoze, we forever hold in esteem staff members — quiet heroes — who gathered unfathomable strength to return to work. Their responsibility to serve Fonkoze’s clients was foremost in their hearts. We will not let go of that cour-age, and are continually strengthened by their focus on our mission.

Those of us in the Fonkoze Family also remember that out of this turmoil came clarity, innovation, risk-taking, and deter-mination. Like so many in Haiti, we put one foot in front of the other, and with each day grew stronger. Most days it was about evaluating the challenge in front of us — working amidst the rubble of destroyed buildings, supporting homeless and hurt-ing staff members and clients, and getting aid into the hands of those that needed it most. We would take a look at those daunt-ing challenges, and develop a solution. Solutions turned into valuable programs to meet the needs of the most vulnerable, then quickly evolved into a long-range vi-sion of ways the Fonkoze Family might use its unique assets as an effective participant in the economic recovery of Haiti.

At Fonkoze and Sèvis Finansye Fonkoze, 2010 was centered on staff and client recov-ery, rebuilding infrastructure, moving cash

and using funding effectively and transpar-ently, engaging at all levels on Fonkoze’s Staircase out of Poverty, while empowering, protecting, and educating our network. At Fonkoze USA, we raised funds and awareness to assist our Haitian institutional partners in all the challenges before them. Through it all, all three institutions of the Fonkoze Family — Fonkoze, Fonkoze USA, and Sèvis Finansye Fonkoze — remained focused on a commitment to results and accountability.

Within the pages of this 2010 Annual Report, we invite you to explore the details of the Fonkoze solutions. You made it pos-sible for the Fonkoze Family to face chal-lenges head-on. You gave us the courage to move ahead, even if sometimes we could not be sure our solutions would work. We were all partners in this recovery, and we remain partners in Haiti’s future.

Haitians and Haitian institutions rebuilding Haiti. That is what defines Fonkoze, and Haiti’s future. We invite and need your partnership, as we provide the leadership, experience, courage, and talent needed for years to come.

Sincerely,

Anne H. Hastings CEO, Sèvis Finansye Fonkoze

Carine Roenen Director, Fonkoze

Leigh Carter Executive Director, Fonkoze USA

Father Josephe B. Philippe Founder, Chair, Fonkoze and Sèvis Finansye Fonkoze Boards of Directors

Alex Counts Chair, Fonkoze USA Board of Directors

Dear Friends of the Fonkoze Family

FONKOZE FAMILY 2010 ANNUAL REPORT 1

By all accounts, 2010 was a wa-tershed year, not only for Haiti as a whole, but for the Fonkoze Family and our clients. The year

began with optimism. A period of relative stability and constructive focus from the international community seemed to be producing growth and promoting invest-ment. Within the first 12 days, however, everything changed in the most dramatic, destructive way possible. In 30-40 seconds, Port-au-Prince and much of the surrounding area was nearly reduced to rubble. At least 220,000 people died. At Fonkoze, more than half of all staff — greater than 450 — were left homeless or in severely compromised living conditions. Five employees died. The toll was staggering and it felt as if the world had ended, but for those who survived, the struggle had only begun.

As the bank of the poor, we knew we had a special role to play in delivering the aid friends and family abroad were sending to Haiti. As hundreds of thousands of remit-tance transfers totaling millions of dollars poured in from abroad, Fonkoze raced to open its branches in the earthquake-affected regions and keep open its branches in less-affected areas. Clients lined up outside of each branch and down the street as we setup computers, printers, and desks in the courtyards of branches too damaged to use. In Bizoton and Leyogàn, two of the worst affected towns, partners helped Fonkoze open its branch in the back of a truck, a “mobile branch,” which roamed each day to provide services to clients. When liquidity became a problem, Fonkoze undertook an unprecedented operation. In partnership with the U.S. military, and with the help of

the Multilateral Investment Fund and the U.S. State and Treasury Departments, Fonkoze brought $2 million from its bank in the U.S. into Haiti and then delivered the money by helicopter at ten sites throughout the country so that branches could provide uninterrupted service to clients. Empowered by these early successes in meeting the needs of our clients, Fonkoze set its sights on its role in the long-term economic recovery of Haiti.

The biggest undertaking of the year was Fonkoze’s earthquake recovery program for members, “Kore Fanmi Fonkoze,” which is Haitian Creole for “Program to Reinforce the Fonkoze Family.” This program treated all Fonkoze members — clients who had paid their initial membership fee of about $6 and were in good standing — as if they had already been paying for catastrophe micro-insurance coverage when the earthquake hit. This allowed us to test the effectiveness of insurance payouts in helping clients rebuild their lives after a natural disaster and to educate clients about the benefits of such a product at the same time. Members who belonged to the ten most affected branches were automatically eligible for benefits,

The Year 2010

2 FONKOZE FAMILY 2010 ANNUAL REPORT

Empowered by these early successes in meeting the needs of our clients, Fonkoze set its sights on its role in the long-term economic recovery of Haiti

while members living outside the earth-quake region qualified if they had lost their homes, their businesses, or both.

Qualifying members benefitted from the three core components of the program:k A one-time cash grant of 5,000 HTG

(about $125) to assist with emergency needs like shelter, food and medical care;

k Cancellation of their remaining loan balance on the day of the earthquake;

k A new loan to restart their business when they were ready.

As a prelude to a permanent insurance product offering the same benefits, Fonkoze charged all clients a fee of 2% of their new loan. Clients were taught the basic prin-ciples of insurance and that in the future they would pay a premium on a policy that would payout in a disaster. In addition Fonkoze developed and piloted a series of disaster preparedness training sessions, which included a lesson on micro-insurance as a risk reduction tool.

This program turned out to be our most significant innovation of the year as the lessons learned from implementing Kore

Fanmi Fonkoze led to the design and launch of a permanent catastrophe insurance product and disaster preparedness educa-tion training for all clients nationwide. More details on Kore Fanmi Fonkoze and its evaluation can be found in Fonkoze’s 2010 Social Performance Report accompanying this Annual Report, or on our website.

The year’s challenges didn’t end with the earthquake. A rapidly spreading cholera outbreak, late-season tropical storm, and po-litical unrest made 2010 a year of seemingly endless challenges. Nonetheless, as with our earthquake recovery program, Fonkoze took action to respond quickly, effectively, and responsibly to each hurdle of the year. By ex-panding our existing services and develop-ing new multi-faceted solutions, we aimed to equip our clients and their families with permanent access to the tools and knowl-edge they need to build their resilience and better protect themselves from disasters long into the future. The subsequent pages of this Annual Report highlight just how we accompanied our clients through one of the most difficult years in our history, and ended the year stronger than ever.

TheStaircaseoutofPovertyOurinnovativesequenceofproductsandservicesdesignedtomeetclientswherevertheyareandaccompanythemontheirjourneyoutofpoverty.

ResultsaftertheEarthquake

k Distributed one-time cash grants to earthquake victims and their families benefiting 89,150 people

k Provided almost 44,000 clients and family members serving as host families to those displaced with a one-time cash grant to reduce the financial burden

k Paid $95,816,784 in remittance transfers into the Haitian economy from January through December

k Disbursed 10,869 new loans to earthquake victims who were ready to recapitalize their businesses

k Educated 2,372 clients and family members in Leyogàn on disaster preparedness and risk reduction strategies with short-term plans to teach over 56,000

k Piloted an innovative catastrophe micro-insurance solution which led to the launch of “Kore W” (Reinforce You) in January 2011 and has already helped thousands of clients recover from devastating rains in early June 2011


TiKREdieducation, close monitoring and a solidarity group

SOlidaRiTyGROuPsolidarity and education

BuSinESSdEvElOPmEnTindividual loans, assistance moving into the formal sector

ChEmEnlavimiyòconfidence building, enterprise training, asset transfer, health services

THE YEAR 2010

With determination, we remained committed to our core mission as “the bank on which

the poor of Haiti can rely.” Our doors never closed. We remained focused on our clients and their needs in the wake of disaster. The most important matter for our clients — to those who lost everything in the earthquake, to those who did not — was to find a way to get their businesses quickly operating again. Working in our favor was a proven methodology: Fonkoze’s Staircase out of Poverty. While helping those most devas-tated recover, Fonkoze continued to do what it does best — to provide financial services

to unwavering women throughout Haiti, women at various stages on their journey out of poverty. Motivated by our principle, “credit is not enough,” Fonkoze continued to provide credit, savings, and much-needed re-mittances from abroad alongside education, health campaigns, and client protection. Even if it meant dragging desks and comput-ers into the courtyards of destroyed branch offices, emerging from the rubble to “check in” with clients, or banking from the back of a mobile van, Fonkoze served those most in need. That mantra continued throughout the year as first cholera, then a late-season hurricane, and finally political upheaval rocked those we serve.

Building&Growingmicro-BusinessesProviding the financial resources families need to build a better life

Comprehensive Solutions to Fight Poverty


Fonkoze:ahaitianinstitution

The future of Haiti can be in the ca-pable hands of Haitians and Haitian institutions. Fonkoze is a shining example of that. Fonkoze is the “al-ternative bank” on which the poor of Haiti can rely well into the future. It is a Haitian institution, with 840 employees. Fewer than 10 of those employees are non-Haitian.

As one employee in the Social Impact Monitoring department put it recently, “I wanted to work in this department so I could apply my theoretical knowledge from university to the benefit of Haitian society… I also saw this as a chance to help build a depart-ment that I thought had great po-tential to be an important force to help Fonkoze achieve its mission and better serve its clients.”

You’ll hear the same sentiment and professionalism echoed by Fonkoze employees — from cred-it agents, to drivers, to branch managers. These are Haitians working for the betterment of their own country.

Fonkoze also understands the importance of working in partner-ship with others, finding additional competence we might need, and enriching other institutions with our unique expertise. Together we enable Haitians and Haitian institu-tions to rebuild Haiti.

Fonkoze redoubled its efforts at the very bottom of the staircase to accompany fami-lies who had slipped deeper into poverty as a result of the earthquake and other setbacks of the year. At the beginning of 2010, there were 250 members in Fonkoze’s program for the ultra poor, Chemen Lavi Miyò (CLM) or “Pathway to a Better Life.” By the end of 2010, 1,234 women were en-rolled in the program reaching an estimated 8,638 Haitian family members in the most demoralizing of circumstances. Riding on the success of the 2009 pilot of CLM, which realized a 95% graduation rate, Fonkoze worked with rural women with no produc-tive assets, not yet ready for credit, with

inadequate housing and children who are not in school. These women are ostracized by their communities, and their families suffer food insecurity with hunger. That is, the family might go days without food. At the end of an 18-month period of extensive accompaniment by a Fonkoze CLM case manager, buy-in by a village committee, introduction of assets and commerce, thoughtful training and confidence-build-ing, women graduate from CLM equipped to care for themselves and their families. Throughout this process — and indepen-dently — women are identified that qualify for Fonkoze’s second step on the Staircase, Ti Kredi, or “Little Credit”. This is the first

loan program on the staircase, with loans beginning at $25 coupled with extensive training including business skills, literacy and simple calculation, health, children’s rights, and environmental protection. 4,845 clients went through the six-month Ti Kredi program this year—an 85% increase over 2009. Graduation rates remained high with 91% successfully completing the program.

One of the most important lessons of 2010 was not only how to remain steadfast in serving women at various steps on the Stair-case out of Poverty, but understanding how to equip them to remain on that demanding path. Some call this “the handrails” on the Staircase out of Poverty. Without a doubt, it became absolutely clear in 2010 that there exist inevitable risks in the lives of our clients — hurricanes, earthquakes, illness, and insecurity. In a country like Haiti, where

government is weak and there are no safety nets for anyone — especially the poorest — it takes innovation and risk-taking to find solutions. Fonkoze saw the earthquake di-saster as an opportunity to pilot an idea that had been brewing since hurricane recovery in 2008-2009: natural catastrophe insurance for our clients. Kore W was launched in early 2011 and is available to organizations serving the poor throughout the Caribbean and the world. The earthquake also sparked

new approaches to our education program, resulting in disaster preparedness training for all. And finally, an unexpected cholera epidemic presented a serious challenge requiring immediate and effective action to provide education and supplies for preven-tion and treatment of this rapidly spreading disease. All these innovations relied upon Fonkoze’s network of almost 2,000 Solidar-ity Centers throughout Haiti as a platform to launch important and essential programs.

Reachinghaiti’sPoorestFamiliesPreparing families to be micro-entrepreneurs and helping them escape the worst form of poverty

helpingFamiliesCopewithinevitableRisksKnowledge and tools to help clients cope with health and natural disasters


COMPREHENSIVE SOLUTIONS TO FIGHT POVERTY

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Not everyone will thrive as an entrepre-neur. Some people just need a job. The rural economies of Haiti needed to be rein-vigorated, and that’s why one of Fonkoze’s solutions in post-earthquake Haiti was to examine how to enhance programs at the top of the Staircase out of Poverty. Fonkoze has always maintained a Business Develop-ment program for extending individual loans to successful ti machann graduating out of solidarity lending (Fonkoze’s third step on the staircase) and for other entre-preneurs eligible to borrow at that level, including men and community organiza-

tions. In 2010, however, opportunities arose that brought to bear emerging strategies for the small and medium enterprise (SME) sector. One strategy was Zafèn, an internet “window” into the possibilities of the SME sector that identifies and qualifies credit-worthy SMEs to showcase on the Zafèn website. This pioneering approach was also a major part of Fonkoze’s strategy to engage the Haitian Diaspora in the recovery effort.

When a trade association of Madanm Sara asked Fonkoze for credit, we started a new product designed to meet their needs called Kredi Cho, or “hot credit” so named

for the speed with which it was disbursed and its short term (3 months). Madanm Sara are the wholesalers who travel abroad to purchase the goods Fonkoze’s clients — ti machann — then purchase to sell in the rural sectors. When commercial banks pulled back on credit for the Madanm Sara after the earthquake, an important supply chain was interrupted. Fonkoze stepped in, explained to these experienced business women that Fonkoze would provide much-needed services to their association and why. A win-win partnership emerged and strengthened throughout 2010.

While access to affordable credit to grow a micro-business is one piece of a complicated pie, in order to truly succeed in their journey out of poverty women need added essential tools like business and life skills education, health knowledge and services, micro-insur-ance, and leadership development opportuni-ties. Fonkoze has always been committed to this principle, and last year was no exception. In fact, in all our programs, the events of the year presented an opportunity to innovate, strengthen and grow. Our solidarity center

network was used time and again in this tu-multuous year: to implement our earthquake recovery program, to roll out Edikasyon sou Katastwòf (our disaster preparedness training), and to introduce quickly Fonkoze’s response to cholera. Fonkoze’s democratic, grass-roots structure of almost 2,000 solidar-ity centers was essential to all we accom-plished. Each center consists of five to 10 five-person solidarity groups, with an elected center chief who attends regional assemblies twice a year. At regional assemblies, members

are elected to represent the clients at the national assembly in Port-au-Prince. Key deci-sions are made, and the Board of Directors is elected at this annual gathering, allowing our clients to fully engage in a democratic process and in building a democratic institution. The strength of this rural network of self-govern-ing solidarity centers throughout Haiti is key to the distribution of critical information and learning. It is the soul of Fonkoze.

PromotingJobCreationThroughouthaitiLending to small and medium enterprises, the job creating engines of growing economies

BuildingtheFoundationsofdemocracyEmpowering women to be leaders and building democratic institutions



In 2010, Fonkoze continued to seek ways to reinforce the devotion of Haitians living abroad. Yet, the Diaspora experienced their own “earthquake” so to speak…an econom-ic earthquake. Already struggling with the economy, especially in the U.S., Haitians liv-ing abroad found themselves responding to friends and family in Haiti who had lost ev-erything. In some cases, savings and retire-ment funds were liquidated to come to the rescue of loved ones. In other cases, already small salaries were drained so that funds

could be sent to Haiti on a regular basis after the earthquake. Through its Diaspora Liaison office, Fonkoze provided financial literacy materials developed in English and Creole to various Haitian-American orga-nizations in the U.S. Understanding that remittances were some of the first “aid” to reach the country after the earthquake, Fonkoze took even more seriously its role as one of the largest remittance distribu-tors in the country. We kept our doors open — even during a liquidity crisis — and

distributed those much-needed money transfers from abroad. In 2010, Fonkoze’s remittance business quadrupled, as we took responsibility for distributing some $95 million. Additionally, our new Zafèn pro-gram served as an Internet-based pathway to connect capital from the Diaspora with credit-worthy Haitian businesses in the SME sector. Enabling the Diaspora’s invest-ment in Haiti’s recovery and long-term development will continue to be a major part of Fonkoze’s strategy going forward.

ConnectinghaitianslivingabroadwithhaitiEngaging the Diaspora and providing them the financial services to develop their country

managingOurSocialPerformance:TheOtherBottomline



As an institution with both finan-cial and social goals, we believe in managing our performance to a double bottom line—financial and social. Fonkoze’s commitment to ensuring a systematic approach to strengthening our social perfor-mance led to the creation of the Social Performance Monitoring and Market Research, or “Social Im-pact,” department in 2006. Start-ing with four members in 2006, by 2010 Social Impact had grown to a team of 16 full-time “action researchers” dedicated to the ongoing monitoring and evaluation of Fonkoze’s clients and programs. Over the last five years, Social

Impact’s role has evolved into a critical agent for instititution-wide learning, informed decision-making, strengthened social responsibility to staff and clients, and demand-driven improvements in Fonkoze’s products and services.

Fonkoze’s 2010 Social Perfor-mance Report highlights how years of commitment to managing our social performance enabled us to respond quickly, responsibly, and effectively to the crises of the year. While implementing groundbreak-ing programs to help our clients recover from the earthquake and prepare for future disasters, Fonkoze also became a leader in

the global movement for improved client protection in microfinance by engaging staff and clients in a concerted effort to implement the Smart Campaign principles of client protection. The Social Performance Report also shares the results and lessons learned from Fonkoze’s innovative pilots, research, and evaluation efforts throughout the year. With an eye to a stronger and more resilient future for both Fonkoze and our clients, these les-sons learned and insights gained are shaping our plans to strengthen our double bottom line. The full-length report is available on the Fonkoze website.

When the January 12, 2010 earthquake hit Port-au-Prince, Jesula Salomon, 31, was selling vegetables, spices and other goods in one of the capital city’s sprawling markets.

Once she returned to the market, she found her merchandise gone or destroyed.

JesulaSalomonAn earthquake survivor who started on the “Pathway to a better Life” with Fonkoze

Three years ago, Camille Wilda of Leyo-gàn was interested in borrowing money to start a business. She went to Fonkoze, asked some questions, and formed a soli-darity group to take out her first loan.

She was doing well, with a pharmacy business she’d slowly built up and a nice house. But the January 12 earthquake de-stroyed both, and she was left with nothing.

Through Fonkoze’s earthquake recovery program Kore Fanmi Fonkoze, Camille was one of over 19,000 clients who received HTG 5,000, about US $125, had their loans canceled, and were offered a new loan when ready.

“When I got the HTG 5,000 after the earthquake, it was huge,” said Camille, who lost her house in the earthquake and had to move into a shelter. “It was as though I had gotten HTG 50,000. It seemed that way because I didn’t have anything. It’s not just me — everyone felt like this, no one had anything. For me, that’s really something.” She added, “I’m not really sure what I would have done without Fonkoze.”

Camille tried to restart her pharmacy business, but with the influx of aid after the earthquake her customers were get-ting the products she sold for free. She switched to selling cosmetics and has been slowly building her business back. She uses the profits to feed her children and pay for them to go to school. A part-time nurse for Doctors without Borders, she still dreams of re-opening her phar-macy to meet a need in her area.

“I have moved backward because of the earthquake... I’m not in the same situ-ation as before, but I am moving forward anyway. The loans have helped with that,” Camille said. “With Fonkoze I’m sure I can get ahead.”

CamilleWildaSolidarity lending client who benefitted from the Fonkoze Earthquake Recovery program, “Kore Fanmi Fonkoze”

CLIENT PROFILE

CLIENT PROFILE

CLIENT PROFILE


Her family and house were spared, but with-out a business she could no longer afford the rent. Her husband, who lost his leg in an ac-cident, could no longer help the family with his income from construction work. She didn’t feel safe in Port-au-Prince anymore.

A couple months later, Jesula moved her family, including two children, to a small community near Sodo in the Central Plateau, a handful of the estimated 500,000 who mi-grated out of the city after the earthquake.

There, Jesula had nothing but her husband’s family and some friends. They took the newcomers into their thatched-roof house, but Jesula and her family went days without food, dependent on others to help. She couldn’t afford to send her children to school.

In the fall of 2010, she was selected to participate in Fonkoze’s Chemen Lavi Miyò (CLM) program, which means “Pathway to a Better Life” in Haitian Creole.

“Before, I didn’t have anything,” Jesula said. “I didn’t even have a chicken.”

A year later, she has her own house with a new tin roof, a latrine, and two goats and a pig. This fall, her children are starting school. She said that her CLM case manager has helped her manage her money. She said women who aren’t in CLM keep having chil-dren, which makes it harder for them to take care of the ones they already have.

“Before, if I had 50 gourdes in hand, I’d waste it,” said Jesula, who aspires to start a small business and build a second room on her house. “Now I have somebody who comes every week to give me advice and help make my money more secure.” Jesula is poised to graduate from CLM in early 2012 and will then be eligible for her first loan through Fonkoze’s Ti Kredi program.

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Fonkoze staff always work with dedication and courage despite difficult conditions, but 2010 brought extraordinary hardship.

During the earthquake, Fonkoze lost five staff: Raymonde Lochard, Uriel Lochard, Ida-lia Merilus, Myrlande Vaincoeur, and Marie Louisa Pierre. Half the staff — 470 of almost 750 — lost their homes, but, found a way to move forward providing crucial services dur-ing their country’s time of greatest need.

In the early days after the earthquake, the Fonkoze service that rose to the top in importance was remittances, that is, the dis-tribution of money transfers from abroad. As we said many times throughout the year, the $100 from a brother in Brooklyn or the $300 from an aunt in Miami, became some of the first aid to reach the country. For those with nowhere to turn, this flow of cash was criti-cal. Remittance services is a sector in which Fonkoze has become a national leader. And af-ter the earthquake, the Director of Fonkoze’s Transfer Services Department — Natacha Blanc — quickly recognized her department would be the busiest in the organization.

Natacha found her way back to the Fonkoze office along with other staff in the days after the disaster, and began the difficult task of setting up an office, locating her staff and diving into her work. It was during this process she learned that three out of four of her staff members had died in the earthquake.

“I can’t put into words the way that I felt when I heard the news; these ladies were more than employees, they were like extended family to me, like sisters,” Natacha said. For three years, Natacha worked along-side Uriel Lochard, Raymonde Lochard, and Myrlande Vaincoeur in a small office, shar-ing everything from lunch to family stories. They had cried and laughed together.

Uriel was only 22 years old. She died when the earthquake destroyed her house. Raymonde left work early on Jan. 12 to pick up her two children from school; she died at home with both children. Myrlande had just returned from a nine-month stay at Duquesne University in a special Fonkoze training program. She had gone to choir practice to the National Cathedral when it collapsed.

This year Fonkoze recognized 20 staff members who acted as heroes after the earth-quake by awarding posters with their pictures and gifts of recognition. One credit agent, after spending 18 hours under rubble, started meeting with clients despite the branch not even having opened. Other employees risked their lives to go into damaged buildings and recover cash, while branch directors sought new locations to open damaged branches.

Later in the year, a Chemen Lavi Miyò case worker Franck Laurore drowned in a sudden storm that overwhelmed the primi-tive canoe he was traveling in to work in a rural community. Two weeks later, another Fonkoze employee, Nicolas Seraphin, survivor of the canoe accident was killed in a motorcycle accident near Mibale.

We cannot say enough about the resolve and heroism of the Fonkoze staff. They are quiet heroes.

TheQuietheroesFonkoze is a family of almost 900 employees working all across Haiti to make a difference


“I can’t put into words the way that I felt when I heard the news; these ladies…were like extended family to me, like sisters.”

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Income Statement

FonkozeS.a.&SubsidiarySèvisFinansyeFonkoze

Sèvis Finansye Fonkoze, the operating company of Fonkoze S.A., expanded tremendously in 2010 as more products

were offered to more customers than ever before. Total assets grew 80.9% even after adjusting for cash being held for a special

government program. The portfolio of outstanding loans to microfinance and SME clients grew 55%. Deposits surged 80.5% and branches paid out nearly three times more remittance transfers than in 2009. Following the devastation of the earthquake, SFF received grants to

help our clients recover and rebuild their businesses, offset extraordinary expenses, replace assets, replenish capital, and restart operations. Both SFF and Fonkoze S.A. moved into positive equity.


FINANCIAL STATEMENTS As this report went to press, the audited financial statements of Fondasyon Kole Zepòl (FONKOZE) were not yet complete. They will be published on the Fonkoze website www.fonkoze.org.

CONsOLIdaTEd BaLaNCE sHEET

CONsOLIdaTEd INCOME sTaTEMENT

All amounts expressed in Haitian gourdes (HTG)

Exchange Rates HTG/USD 39.8817 42.0193 39.8176

aSSETS 2010 2009 2008Cash and cash equivalents 523,007,904 73,962,850 71,985,036 Investments 7,939,743 8,798,126 7,299,867 Accounts Receivable 242,432,651 60,616,673 40,609,623 Gross Loan Portfolio Outstanding 462,345,393 298,210,170 326,623,761

Less allowance for Loan Loss (13,870,362) (17,128,747) (26,935,726)Net Loan Portfolio Outstanding 448,475,031 281,081,423 299,688,035

Net Fixed Assets 63,538,850 34,269,118 25,222,002 Other Assets 65,967,982 66,753,850 62,406,133 TOTalaSSETS 1,351,362,161 525,482,040 507,210,696

liaBiliTiESandShaREhOldERS'EQuiTyDeposits 836,627,288 463,446,752 393,014,284 Notes Payable 41,528,893 74,448,951 156,204,881 Other Liabilities 443,931,449 7,872,536 6,677,153 TOTalliaBiliTiES 1,322,087,630 545,768,239 555,896,318

SHAREHOLDER'S EQUITYCapital stock and paid in capital 149,592,719 141,658,512 101,977,010 Retained earnings (deficit) (120,880,574) (163,338,884) (151,229,474)Accumulated other comprehensive gain 562,386 1,394,173 566,842 TOTalShaREhOldERS'EQuiTy 29,274,531 (20,286,199) (48,685,622)

TOTalliaBiliTiESandShaREhOldERS'EQuiTy 1,351,362,161 525,482,040 507,210,696

All amounts expressed in Haitian gourdes (HTG)

Exchange Rates HTG/USD 39.6511 41.1964 39.107

2010 2009 2008Interest Income (Loans and other) 123,707,447 119,056,492 121,668,813 Interest Expense (10,034,337) (12,232,580 ) (26,717,719)netinterestincome 113,673,110 106,823,912 94,951,094

Provision for loan losses (22,243,925) (23,608,970) (10,419,899)netinterestincomeafterProvisionforloanlosses 91,429,185 83,214,942 84,531,195 Other Operating Income 74,888,593 38,177,609 25,338,475 netinterestandOtherincome 166,317,778 121,392,551 109,869,670

OPERaTinGExPEnSES 206,385,768 149,860,286 178,300,859 netlossfromOperationsbeforeincomeTax (40,067,990) (28,467,735) (68,431,189)Other Income 140,219 13,948,902 40,806,837 Provision for Income Tax 13,489,380 2,409,423 4,198,143 netlossBeforeExtraordinaryitems (26,438,391) (12,109,410) (23,426,209)Extraordinary Items 98,423,859 - - Provision for Income Tax on Extraordinary Items (29,527,158) - - netincome(loss)fromOperations 42,458,310 (12,109,410) (23,426,209)


FINANCIAL STATEMENTS

FonkozeuSa

The year 2010 was an unprece-dented year of fundraising for Fonkoze USA and our partners in Haiti. It is always of upmost

importance for us to be responsible stewards of funds entrusted to us for our mission. But, in 2010, this was even more important.

Last year, 90% of all we raised was used to fund our Haitian programs, while our admin-istration and fundraising expenses were only 10%. This excellent performance has enabled us to retain the highest rating with Charity Navigator and GuideStar. We are also a BBB Wise Giving Alliance Charity Seal Holder.

We remain committed to building sensible capacity here in the U.S. while maintaining the excellent due diligence our donors deserve.

BaLaNCE sHEET

INCOME sTaTEMENT

All amounts expressed in U.S. Dollars

2010 2009 2008Cash and Equivilents 1,117,671 615,583 250,132 Short-term Receivables 826,908 514,125 859,784 Prepaid Expenses 12,305 2,434 4,094 Total Short-Term Assets 1,956,884 1,132,142 1,114,010

Net Property and Equipment 8,227 2,426 5,073 Investments 318,342 186,954 68,652 Long-term Receivables 1,523,966 1,709,156 1,210,100 Other Assets 10,846 - 0TOTalaSSETS 3,818,265 3,030,678 2,397,835

Short-term Payables 742,828 562,001 816,407 Long-term Payables 1,503,966 1,689,156 1,148,100 TOTalliaBiliTiES 2,246,794 2,251,157 1,964,507

NET ASSETSUnrestricted 951,381 706,911 274,094 Unrestricted - Board Designated 155,924 25,610 58,087 Temporarily Restricted 417,166 - 79,147 Permanently Restricted 47,000 47,000 22,000 TOTalnETaSSETS 1,571,471 779,521 433,328

TOTalliaBiliTiESandnETaSSETS 3,818,265 3,030,678 2,397,835


2010 2009 2008REvEnuESContributions and Grants 4,752,263 2,351,855 1,575,591 Interest & Dividend Income 65,543 55,851 54,027 Other Income 24,979 49,380 27,396 TOTalREvEnuES 4,842,785 2,457,086 1,657,014

ExPEnSESProgram Services 3,645,360 1,789,807 1,195,269 Supporting ServicesFundraising 159,732 118,450 110,029 Administration 245,743 202,636 176,491 Total Supporting Services 405,475 321,086 286,520 TOTalExPEnSES 4,050,835 2,110,893 1,481,789

ChanGEinnETaSSETS 791,950 346,193 175,225

$100,000ORmORE

American Jewish World Service

American Red Cross

Anonymous

becker Family Foundation

Carnegie Corporation of New York, NY

Citi

Clinton bush Haiti Fund

Coleman & Anna Gorham Revocable Trust

CHF International

Concern Worldwide

Entrepreneurs Foundation

bishop Thomas J. Gumbleton

Grameen Foundation

Haitian Timoun Foundation

International Relief and Development Foundation

Inter-American Development bank

Johnson & Johnson Family of Companies Contribution Fund

The MasterCard Foundation

Mennonite Economic Development Associates

Mennonite Central Committee

Mercy Corps

PLAN International

Whole Planet Foundation

Zynga

$50,000–$99,999

Anonymous

Archdiocese of Miami, Miami Shores, FL

Matthew T. and Margaret D. balitsaris

CHF Partners in Rural Development

Diocese of Orlando, FL

Leadership, Management and Sustainability Program, implemented by Management Sciences for Health, funded by USAID

Linked Foundation

Oikocredit Germany

Opportunity International Deutschland

Sea Change Foundation & Irish Aid

Starfish Group

The Yeardley Smith Foundation

$25,000–$49,999

Jerry and Anna bedford

boston Foundation

bóthar

Coutts Microfinance Donor Advised Fund

David and Carrie Dortch

Fidelity Charitable Gift Fund

The Giraud Family Trust

Haiti Integrated Finance for Value Chains and Enterprises (HIFIVE), a project funded by USAID

Levi Strauss

Liz Claiborne Foundation

Raskob Foundation

Mark G. and Cindy Schoeppner, CFA

Julian C. and Ruth W. Schroeder

Silicon Valley Community Foundation

$10,000–$24,999

Angel Foundation

The Atlanta Finance Company LTD

The Atlantic Philanthropies Director/Employee Designated Gift

Christina and Charles bascom

bRAC UK

Leroy and Lucy Close

Community Foundation of Southeastern Massachusetts-Women’s Fund Philanthropy Initiative

Reverend Doug Doussan

bill and Helen Doyle

The Estate of Robert and Marie Fehribach

Michael W. and Linda M. Fisher

Friends of Fonkoze Santa barbara

Friends of Fonkoze Greater Philadelphia

Friends of Jesus

bernice Galbreath

Vincent A. and Catherine M. Gallagher

Geneva Global

Haitian Microfinance, Inc.

HAVEN Foundation

Kerry E. and T. Roderick Henkels

International Development and Relief Foundation

John XXIII Center, Hartford City, IN

JupiterFirst Church, Jupiter, FL

Kentucky Christian Foundation

Mary Catherine Kilday and George W. Malzone Foundation

Jane Orbeton and James McKenna

Marcia H. and F. Joseph McLaughlin

Midler Family Foundation

The National Academy of Sciences, The National Academy of Enginering and The Institute of Medicine

Newman Catholic Center, Charleston, IL

Marie A. Nowosielski

Opus Prize Foundation of the Catholic Community Foundation

Oxfam Gb

Erin and William Rouse

St. John Vianney Catholic Church, Shelby Township, MI

St. Thomas The Apostle Catholic Church, Miami, FL

San Carlos Foundation

SC Ministry Foundation, Cincinnati, OH

Paul and Carol Schaap Foundation

Lisa Schoellermann

Schwab Charitable Fund

Marie-Florence Shadlen

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

Sisters of the Humility of Mary, Villa Maria, PA

UN Mission for Stablization of Haiti

The Whitehead Foundation Inc.

$5,000–$9,999

Adrian Dominican Generalate

Allan and Ann Mactier Fund

Margherita and Michael baldwin

bank IM bistum Essen

beijing City International School, China

Michael blaszyk and Leslie Wittman

Laurits R. and beatrice Christensen

Dr. Rebecca E. Conant and Dr. David L. Conant

Patrick J. and Carolyn G. Curtin

Debley Foundation

Margaret and Charles Demeré

Maryann D. and Samuel M. Ellsworth

Funding Exchange

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

A.H. Gage Private Foundation

Glens Falls Rotary Club Foundation Inc

Grace Chapel baptist Church, Paterson, NJ

James P. and betty Hanigan

Leigh Hardiman

Robin Lloyd

Lions Clubs of Germany

Paul and Jessica Lusty

Jill and Stephen M. McDonnell

Katarina Mesarovich

Morris Foundation

Oikocredit Foerderkreis Nordost e.V. berlin Germany

Omaha Community Foundation

OMC Group

Theodore H. Pincus

St. Croix Foundation for Community Development Inc.

St. Leo’s Parish, Detroit, MI

Josie Sentner

Sisters of Charity, bronx NY

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

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

Pura and Tom Strong

Patricia Thornburg

The Upstream Foundation

Mr. and Mrs. Richard Urban

barbara Webster

Wheeler Family Foundation, Inc.

Whole Foods Market, bethesda, MD

America M. and David H. Young

Zawadi by Youth, Riverdale Country School New York, NY

$2,500–$4,999

Adorers of the blood of Christ, St. Louis, MO

The Allemall Foundation, Inc.

Artists Project Earth-banbury, London

Laurie Ashton

b. & R. Charitable Foundation

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

Elaine M. bellin

Kim J. and Daniel F. brooks

Reverend Douglas C. brougher

Capital Group Companies Charitable Foundation

Daniel F. Capshaw and Linnea M. Nilsen Capshaw

Rev. Msgr. Franklyn Casale

Chapel Hill bible Church, Chapel Hill, NC

The Chiapas Project

Christian Financial Credit Union

Church of the Epiphany c/o Ten Percent Committee, Louisville KY

The Community Foundation for The National Capital Region

Walter b. Davin

Aude de Montesquiou

W. Lee Dickson and James R. Graham

Nadine Dorvelus

The Dundorf Family Fund

Claudine and bernard Dussert

Ray Escoffier

The F.b. Heron Foundation

The First Presbyterian Church, Granville, OH

First United Methodist Church of Germantown, Philadelphia, PA*

The United Methodist Women at the First United Methocist Church of Germantown, Philadelphia PA

Carolyn Fluehr-Lobban and Richard A. Lobban

Jean and William Graustein

Richard and Lois Gunther Family Foundation

Phil and Renate Haeckler

James Madison University, 30 for 30

Jewish Community Foundation

Elizabeth Johnson

Amalie M. Kass

Lions Club Antwerpse Kempen

Elizabeth Lowell

Loyola House Jesuit Community, San Francisco, CA

Mary Mother of Peace M. C., Inc

Maureen A. Morello

Mark V. and Victoria G. Muller

The Needles Eye Foundation, Inc.

Evelyn b. Newell

Northmount School, Toronto,Ontario

NotePublishing.com LLC

O Positive

Page, Inc

D. bruce Post

Louis and Ramona Prezeau

Proliteracy

Loretta L. Pyles

Lisa C. Reed

William Resnick, M.D.

Rockefeller & Co., Inc.

Saints Simon and Jude Church, Westland, MI

Alayne Sampson

Seabrook Foundation

Pam and Mark Semmler

Fredericka Foster and bennett M. Shapiro

Adam Sherman


Donors 2010


R. Kehl Sink

Dorothy Jane Smith

Sherene Smith

Jay Snyder

Penny and Dick Stevens

Stiftungsfonds Kirche und Caritas

Phyllis b. and Richard K. Taylor

Trinity Church, Inc. Santa barbara, CA

Tripple Jump

The University at Albany Foundation, Albany, NY

University Unitarian Church, Seattle, WA

The Untours Foundation

Vermont Community Foundation

Theodore A. Von Der Ahe, Jr. Trust

bruce L. Warren

Weidemann Foundation

The Weiss Fagen Fund

Thomas J. White

$1,000–$2,499

William Abrams and Julie Salamon

Rebecca W. Adams

Shahara Ahmad-Llewellyn

blaise Alexander Management Inc.

All One Family Fund, Titia and bill Ellis, founders

All Saints Church, Pasadena, CA

Amherst Cinema Arts Center

Carole L. Anderson

Susan Anderson

Anonymous

The Appleseed Fund

The Audrey and Sydney Irmas Charitable Foundation

John L. Augustine

Lucy G. barber

Anne M. and R. Mac barnes

Anne L. barstow and Tom Driver

Michael belenky

benchmark Asset Managers

J. Raymond benner

Steven J. bennett and Erin M. Loubier

Jeff bergelson

berkshire Taconic Community Foundation, Inc.

Paul C. and Sachiko S. berry

Preeti bhatia

P. R. boucher

John A. and Jan U. bradley

Christine S. and William G. breu

Charles L. brown, III

Robert brown

Lorena Cabezas

Mary A. Cameron

Leigh Carter and Andrew Schuman

Carlton Caves

Pramod Chandersekhar

The Charles Foundation

Alexandra Chasin

Christ the Good Shepherd Parish, Middle School Youth, Lincoln Park MI

Christ United Methodist Church, East Moline IL

Virginia S. Clark

Coffee with a Conscience

Michele R. and Martin Cohen

Lenore Collins

Colorado Haiti Project

Communitas

The Community Foundation of Louisville Depository, Inc

Charles Conlon

Joann M. Connors

Anne Coughlin

Alexander and Emily Counts

Thomas H. Cusick

Dean Cycon

The Darling Fund of The Philadelphia Foundation

Caroline G. and Guy b. Darst, Jr.

Christopher and beth Daulton

Joan C. and Harold L. Denkler

Courtney Dern

John DeVincentis and Dennis Mankin

Dorothy & Toto Foundation

Doreen L. and Neville G. D’Souza

Robert Dulaney

Ebert Appraisal Company

Titia and bill Ellis

ESPWA FE VIV CLUb

Ethical Society of St. Louis, MO

Andrew Ezzell

Joan Farnsworth

First Catholic Slovak Ladies Association

First Coast Penn Alumni Club

First Presbyterian Church, Newark, NJ

Penelope Foley

Sam Folin

b. Jean Fort

Dr. Dennis C. Foss and Mrs. Deborah Foss

Foundation for Women

Marieke Francois

Elizabeth and Fred Frick

William D. and Patricia S. Friel

Jim P. Gauer

Felice Gelman

Anthony C. Gooch and Florence A. Davis

Good Shepherd Lutheran Church, Loudonville, NY

Kathleen C. and C. John Goodwin

The Greenfield Hill Congregational Church, Fairfield, CT

Greenwood baptist Church, brooklyn, NY

Evelyn C. Grimes Living Trust

Jay Gromek and Stephanie Jones

Renata and John Hahn-Francini

Corey Hastings and Jennifer Walden

Ann M. and E. J. Hawkes

Anne G. and Thomas F. Heck

The Heller Family Foundation

Scott Heringer

Edward S. and Mary W. Herman

Don and Diane Hewat

James R. Hollingsworth

Holy Ghost Preparatory School, bensalem, PA

Henry and Rita Hortenstine

Carol Horwitz

Melanie Howard

Polly H. Howells

bob Hsu and bonnie Chang

Elanie Yanique Humes

Immaculate Heart Community, Los Angeles, CA

Immaculate Heart Convent, Springfield, PA

Mariella Isaias

James R Wilkins Charitable Trust

John W. and Sue L. Scanlon

Jubilee School, Philadelphia, PA

Janet and Terry Kafka

Peter Karmanos, Jr.

Donald L. and Siena W. Kennedy

Faith Y. Kim

Andrew and Kenwyn Kindfuller

Katie Kitchen and Paul Kovach

The Kling Stubbins Charitable Fund

Darcy b. and Richard S. Kopcho

Kurtz Family Fund

Steve and Susan Kute

Joseph A. and Suzanne E. Ladouceur

Andrea N. Leblanc

Alfred Lee and Peter Mayer Foundation

Mark and Nancy Lindley

Christopher Locke

Longmeadow High School, Longmeadow, MA

brian and Diana Lovett

M & I Foundation, Inc

Allen MacKenzie

Christina T. and brian T. Mangino

Marin Interfaith Task Force on the Americas

Maryknoll Sisters-Hong Kong/Macau

brian McGeer

Marc W. and Laura K. McKenna

Alice McMahon and Daniel Hardie

John and Gloria McManus

John R. Mercier

Ruth Messinger

Cecile Meyer

C. Wayne Middleton

John F. Millen

Kathleen T. Moloney and Edward S. Egnatios

Daniel and Kathie Molter

Monthly Meeting of Friends of Philadelphia

James J. Moore

National Christian Life Community of USA

National Philanthropic Trust

The New York Community Trust

Jane Norton Newton

Richard O’Donnell

Carrie Ohly-Cusack

Oikocredit Förderkreis bayern e.V.

L. Glenn and Cecilia O’Kray

OLF Elephants in the Living Room

Elizabeth and William E. Oliver

Cheryl Olsten

John P. and Vicki L. O’Reilly

Doug and Ann Osgood

Meg O’Shaughnessy

Vitaline O’Toole

Our Lady of Victory Missionary Sisters, Huntington, IN

Alice Penrose and Kevin Miller

Rosario Perez

Woody Peterson

Mark and Peyton Petty

The Philadelphia Foundation DA

The Philanthropic Collaborative DA

Phillips Academy Andover

Camille A. Piebiak

Pilgrim Congregational Church, Oak Park, IL

Alexandra Poe

Lisa Pretecrum and Scott Crum

Prince Of Peace Church, West bloomfield, MI

R.E.M.

The William L. Richter Family Foundation

Daniel R. Robinson and Cathy M. Collie

John b. Robinson, Jr.

John D. and Theresa P. Rollins

Robert Rose

Theresa Sachaczenski

Evelyn P. Saeli

Saint Francis De Sales Parish School, Philadelphia, PA

Mary A. St. Ledger

Robert J. and Joan A. St. Ledger

St. Margaret School, Reading PA

St. Thomas Aquinas Church, Freeport, IL

Santa barbara Foundation

Mary J. and Ken Sawers

Msgr. William Scheyd

Joseph Schillmoeller and Pauline M. Feltner

Harold Schmitz

Susan M. and Charles P. Scholer

Daniel Scott

Seattle Microfinance Organization

Seattle Peace Chorus

Dorothy Senerchia

Laurel Sercombe

Shimer College

Sidney E. Frank Foundation

Marsha Siegel

Susan and John Silverio

Christopher M. Singer

Sisters of Charity of Cincinnati, OH

Sisters of Mercy, Omaha, NE

Sisters of Mercy of the Americas, Silver Spring, MD

The Skillman Foundation Matching Gifts

Charlene R. and Ronald H. Smith

Neal A. Smith

Rosemary C. Smith

Anna K. Snider

Sharmi Sobhan and Sumit Sasidharan

The Society of Kings Chapel, boston, MA

Society of the Holy Child Jesus, Rosemont, PA

Martha S. Sproule

St. Aloysius Church, New Canaan, CT

St. Cecilia Church, Detroit, MI

St. Francis De Sales School -The Lion Fund, Philadelphia, PA

St. John Stone Friary, Villanova, PA

Laura Stephens

Robin and Joseph Stocks

Paula Suh

Rick Tetzeli

Didier Thys

Ti Georges’ Chicken

Triskeles Foundation

Giles M. Troughton and Karen L. Ramsey

John R. Trumbore

Miriam K. and Jeffrey Tucker

Kathleen L. Uhler

Unitarian Universalist Church of Fresno, Clovis, CA

Lucia Van Ruiten

Richard and ELizabeth Vanden Heuvel

Vanguard Charitable Endowment Program

Joan Vermeulen

John Vermilye

John Vezeris

Victory Apostolic Church, Matteson, IL

Luce D. Vitry-Maubrey

Neil and Mary Patricia Walsh

Anneke Wambaugh

Washington Ethical Society, Washington, DC

Nancy Watreas

Sharon Weinberg

Jonathan Weiss

Kayla Werlin

Wharton Graduate Association

Kathleen and Shawn White

Ian Whiteside

Richard Whittington and Jane L. Coleman

Margot Worfolk Trust

Laura Roberts Wright

Graham Wrigley

Erin and Karl Yaeger

$500–$999

Aanya Adler Friess Trust

Hanita and Gregory Alexander

Eleanor C. Allen

Fernando and Carla Alvarado Family Foundation

American Endowment Foundation

Naomi Andrews

barbara Appel

Artio Global Investors

James Austin

Sheila baird

Christine and Mark baldridge

barbara Appel Irrevocable Living Trust

Judith and Don barbee

Zebuon bartels

Patricia D. and John battista

Judith bauduy

Reverend Joseph F. beckman

Madison S. bell, Lequire Gallery

bellerose Jewish Center, Floral Park, NY

Linda A. and William J. benecke

Leonard benedict

Catherine M. and John bentwood

Martha bergmark

Cathleen and Richard bernard

Janet bertman

Suzi M. bethke

Larry S. and barbara W. beyna

Shirley M. birkholz

Sarah and Steve blackmun-Eskow

C. Douglas blanchard

Anthony blenk

Jane M. bond

Emma bonnier

brac USA

Thomas bracken

barbara brockhurst and Robert Lavoie

Elizabeth V. and Lawrence L. brockman

Sylvia and Jack brockman

bruce Ford brown Charitable Trust

Janet C. M. buchert

Jessica burgard

Christine Calame

Call To Action Columbus

Cambridge Village breakfast Club, Houston, TX

Campus Ministry HEC Program

The Carter Center, Inc.

Mr. and Mrs. Claude Case

Catholic Thrift Shop, Campton, KY

Leo Chausse

Julie and Jerry Cimmet

H. Fred and Karen Clark

Lauren Clark

Steve and Christine Clemens

Owen Clements

William D. and beverly K. Coats

Anthony Cockcroft

Construction Technology Services, Inc.

David L. and barbara L. Corcoran

Cornerstone baptist Church

bernice E. Cottrell and Anne A. benenati

Ruth Cowan

Elizabeth Cox

Stuart P. Coxhead, Jr.

Patrick and Anita Crotty

Regan Crump

Peter and Pam Dailey

Lucy Del Giorgio

Francoise E. Denis

Marie A. Dennis

Mr. and Mrs. Sandeep Dhand

Joseph b. and Julia Dierker, Jr.

Dignity Detroit

Peter Doyle

W. Patrick and Sharon M. Dreisig

Susan J. Du bois

Hilary Duffy

Christopher Durang

Alison Cline and John A. Earls

Maureen and Roger Earls

Mary J. Eckert

Elaine L. Pero Trustee

Patricia L. and T. C. Ellis

Emerging Markets Group at the University of Chicago booth School of business

Helen Engelhardt

Mary L. Evanoff

William and Anne C. Ewing

John and Rachelle Farrow

Therese Feng

Jack and Jackie Ferrari

Warren A. Ferster

FirstGiving

Rita Foley

Fonkoze Development Fund

Sandra and bernard Forand

The Fortview Foundation

Franklin Community Cooperative, Inc.

Pamela and Michael Fuhrig

Virginia Gardner

GE Foundation - Matching Gifts

The bernadette M. Cronin and Lawrence H. Geller Social Justice Fund

Constance A. and David L. Gillis

Eugene Giscombe

Linda Gluck

Cindy M. Golbert

Doris Goodman Mohn Trust

Google Matching Gifts Program

Ralph S. Greco

Colleen Green

Maria C. Grifoni

Alfred W. and Kathleen M. Gross, Jr.

Julie M. Guajardo McGeever

Scott Gurian

Evelyn Gurney

J. D. and D. L. Gurney

Paul G. and Heather S. Haaga

Evelyn Haas

Monica K. Hamrick

Nancy Eichelman and John b. Handy

Jean E. Hanson

Tomas Hardiman

Gertrude E. Harris

Ann C. Hart

Anne Hastings

Kathy R. and Gary M. Heacock

Judy Heather

Carter and Florence Hedeen

Paul A. Henn and Joan Shultz-Henn

HHL Foundation

Robert L. and Catherine C. Hill

Holy Innocents Convent, Phildadelphia, PA

Perry and Dennis Hooks

Margaret L. Howell

Robin S. and Michael Hoy

Karen C. Hyland

Elizabeth Geenberg and Darmakusuma Ie

If/When

Ignite Philanthropy Advisors

Andrew Isaacs

Jade Apparel Inc.

John and Signe Jarvis

The Jeanne Leonard Memorial Fund

Jinpa Foundation

Mr. and Mrs. Peter Karoff

Mary Anne and Richard E. Katz

John F. and Mary O. Keegan

Michael Kelleher

Robert and Markle Kellermann

Robert J. and Ellen S. Kelly

Marie L. Kennedy Revocable Trust

bridget Kenny

Mary beth Kineke and Carleton Holstrom

Gail Koff, P.C.

Patricia A. Kolon

Loren and Sherrie Konkus

Kosciusko County Community Foundation, Inc.

Regina Kramer

Stephen Krebs

Nancy Kruse

Kristina Kurki-Suonio and Jan M. Wennstrom

Robert K. and Carol W. Kurz

Priscilla Labovitz

Paddy Lane

Frederick W. Lauck and Debra Sandoval

Iole and Earl Le Tissier

Tracy K. and Lyla M. Leigh

Margarete Liebstaedter

Emily Lippert

Jeannette Love

Mary Louise Lowe Charitable Fund

Loyola University Maryland, Center for Community Service and Justice

Valerie Lynch and Putnam barber

Mary Macgregor

Frank J. and Theresa Mack

Cathleen Mahon

Joy Mallory

Megan L. Maloney

Nicole Mann

Amy H. Manson

Rita A. Marchand

Marion Institute, Inc.

Michele and Richard Matuszewski

Gretchen Maynes

Glendon and Luanne Mayo

Paul J. McCarthy and Orla C. O’Callaghan

Mary Jean and Thomas McCarty

McGeever Management LLC

Paul F. and Christine McGuire

Jean McQuiggin

Niall McShane

Robert C. and Carol L. Messinger

Kathy Meth

Microsoft Matching Gifts Program

Eiji Miki

Frances and Steve Miller

Alexandra Minn

MissioinFish

Carl Mitchell

Model United Nations, Virginia Tech Students

Most Holy Trinity Church

Peter Mostow

Peggy A. and Robert N. Mullen

Kathleen W. Murnion

Joseph Murphy

Edward Nahmias

Andrew Newman

Maureen and Andy Nguyen

Norfolk Catholic Worker

The Northern Virginia Ethical Society, Vienna, VA

Donald C. and Frances H. OConnell

Cynthia E. O’Connor

John Ogram

John and Sandra O’Neal

Margaret A. and Joseph P. Orlando

barbara Ostrowski and Mary A. Novascone

brian O’Toole

Our Lady Of Lakes, Waterford, MI

Jane and James R. Palmer

Mary J. Paul

Pax Christi Australia, Melbourne

Pax Christi Minnesota, Duluth, MN

Sarah E. Peck

Patricia Pierce

Johan Pieterse

Michael Pittman

Francisco Javier Calvo Poyo and Gelia Agea

PTA Shool at Columbia University

Quaker Capital Management

Charles and Jane Rardin

barbara A. Ratigan

Susan E. Ratigan and David E. barrosse

Emily J. and Chrisley N. Reed

Joan Reidy

Elaine Reuben

Ian T. Roberts and Katherine Seikel


Donors 2010 (continued)

Rooy Media LLC

Lawrence N. Rosenblum

Clare S. Rosenfield

Margaret R. Rosenkrands Trust

Rotary Club of Goleta, CA

Rebecca Rouse

Janice M. and David Rowell

Rosemary G. Ryan

Randy Ryker and Jeanne barnard

Elisabeth and Kamel Saidi

St. barbara Parish, Santa barbara, CA

St. Francis De Sales Convent, Philadelphia, PA

St. Ignatius Catholic Community, Grosse Point Farms, MI

St. Mary Catholic Church, Larchwood IA

St. Mary’s School, Jackson, MI

St. Matthew Roman Catholic, Tolland, CT

St. Matthew United Methodist Church, Trevose, PA

St. Michael Parish, Sterling Heights, MI

Danilo C. and Alice Aquino Andres Salazar

Nina A. Samay

David Sarr

Jane H. Saunier

Judith and Robert Schachner

Ronald L. Schroeder

Aisling Scott

R. M. and K. A. Seefelt

Rev. Alfred R. Shands, III

Alice M. Sharp

Jane and Charles Sharp

Jean-Emmanuel Shein, Christiane Janssen and Joseph Shein

Martha and Alfred Sikes

Douglas Silsbee

Sisters of Saint Anne, Marlborough, MA

Sisters of St. Francis of the Holy Cross, Green bay, WI

Sisters of St. Joseph in California, Los Angeles, CA

Valerie Sklarevsky

barbara D. and Kenneth R. Smith

Hope and John C. Smith

Lorraine Smith

Society for Ethical Culture in the City of New York

Deborah Sosebee

Gerhard Spari

Gayle A. Spinazze and Kimberley L. busuttil

Suzanne Stearn

Gerald b. and Patricia L. Stebbins

Jane Stein

John K. Steinmeyer

Paul Stephey

Stacy J. Stevens

Craig Stewart

Rachael Tanner

Temple beth Elohim, Wellesley, MA

Jane E. Thompson

Karen Thoms

Jennifer Thomson

barbara Y. and Robert Tiffany

Holly Tomchey and Phil Stiles

Michael Tompkins, MFT

barbara Toumayan

Sarah Tyler

University of Maine at Farmington

Urdang Schools Ltd, Islington, London Gb

Mary Louise and George b. Van Antwerp

Shelley Van kempen

Lois and Hubert Van Tol

Joann E. Vanek

Desa VanLaarhoven

Martha Varadan

Villanova University Campus Ministry Sanctuary, Villanova, PA

Susan M. and G. A. Vitale

Sarah G. and Jeffrey W. Vogt

S. and J. Wall

Shaaron M. Warne and William J. Mueller

Christine Wasyliko and Christopher Huntley

Patricia and Albert Watanabe

Harry Waters

Sally Webb

Marlene Wellington and Anthony Glaser

Rosemary J. and bruce M. Wentworth

Sue and Lew Werlin

Carole Whitehill

Judyth A. Wier, CFRE

Wildwood & Great Lakes Env. Academy

H. Oneil Williams

Rufus M. G. and Sheila J. Williams

Joel b. Wittenberg and Mary Ann Ek

Frances K. Wu and Wilburn Chesser

Mary T. Yelenick and Elizabeth L. broad

David Ziegler

Eeva Zimmerman

invESTORS

Adorers of the blood of Christ, St. Louis, MO

Adrian Dominican Sisters, Adrian, MI

Alternative Gifts International

Alternative Insurance Company

baltimore Ethical Society, baltimore, MD

James F. barry

Gary & Mary becker

beyond borders

bon Secours Health System

Rebecca brune

Lawrence J. Suffredin Jr. and Gloria Callaci

Calvert Foundation

Catholic Health Initiatives

Timothy Cimino

City National bank Shares

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

Charles Conlon

Robert Crauder

Larry Dansinger & Karen Marysdaughter

Dominican Sisters of Hope, Ossining, NY

Dominican Sisters of Springfield, IL

David W. Dortch

Polly and Peter Edmunds

Rosemary Edwards

Thomas Ellis

Ethical Action Committee of St Louis, MO

Anne and Tom Fitzpatrick

Fondasyon Kole Zepòl

Fonkoze Development Fund, Philadelphia, PA

Fonkoze Employee Trust

Fonkoze USA

Francis of Assisi Microlending LLC

Friends of the People of Haiti

Peter Gebhardt-Seele

Grameen Foundation

Grey Nuns of the Sacred Heart, Yardley, PA

John and Renata Hahn-Francini

Haitian Microfinance, Inc.

Haiti Solidarity of the Northeast

Judy and William Harrington

Anne Hastings

Robin and Michael Hoy

Chantal Hudicourt

Dr. Henry Kaminer

Jeffrey Keenan

Michael Komba

Constance Lesold

Loretto Literary & benevolent Institution

Christine Low

The Estate of Gordon McCormick

John & Christine McKay

Mary Elizabeth Meehan

Mennonite Economic Development Associates

Mercy Investment Services

Susan Metz

Cecile Meyer

Michigan Committee for a Democratic Haiti

Mid-Atlantic Regional Christian Life Community

Patricia Miller

Nazareth Literary and benevolent Society

Oikocredit

Joan Lea Toms Olsen

Carol Anne Otto

Our Lady of Victory Missionary Sisters, Huntington, IN

Joseph & Mary Palen

Parish of St. Augustine, brooklyn, NY

PAX CHRISTI USA, Erie, PA

Peace and Justice book Club c/o John Poole

Joseph Philippe

John R. Poole

Louis Prezeau

Jean and Vance Reese

Reformed Church in America, Grand Rapids, MI

Merilie Robertson

William & Erin Rouse

beatrice Rubin

Joseph Rund

Sacred Heart Monastery, Yankton, SD

St. bridget Church Corp., Manchester, CT

St. Martin de Porres Catholic Worker House

Ed Schmidt

School Sisters of Notre Dame, St. Louis, MO

Julian & Ruth Schroeder

Josie Sentner

Seton Enablement Fund, Mt. St. Joseph, OH

Sisters of the blessed Sacrament, bensalem, PA

Sisters of Charity, bronx, NY

Sisters of Charity of the Incarnate Word, Houston, TX

Sisters of Charity of Saint Elizabeth, Convent Station, NJ

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

Sisters of the Holy Names of Jesus & Mary US - Ontario Province

Sisters of the Humility of Mary, Villa Maria, PA

Sisters of Mercy of the Americas, So Central Community

Sisters of Notre Dame of Toledo, OH

Sisters of St. Dominic, Racine, WI

Sisters of St. Francis of Philadelphia, Aston, PA

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

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

Sisters, Servants IHM, Monroe, MI and Immaculate, PA

Sharmi Sobhan

Society of the Holy Child Jesus, Rosemont, PA

Finian Taylor

Doug Thompson

Rev. J. Michelle Tooley

Tulsa Community Foundation, Tulsa, OK

Untours Foundation

barbara Webster

Douglas Wingeier Trust

inKinddOnORS

Anacaona Adamson

Marie Antoine Alliance

Akin Gump Strauss Hauer & Feld LLP

Carole L. Anderson

brian Averill

Aaron baum

DePaul University

Duquesne University

Gabriel Feldman

Sr. Rose Gallagher

Grameen Foundation

Mor Goldberger

Laura P. Hartman

Liv Jacobson

Edna Johnston and Ann Lloyd breeden

brad Latham

Emily Lippert

Michael T. Louis

Father Robert Maloney

Patrick Obrien

Plan !t Now

Daniel Robinson

Joyce Rothermel/Michael Drohan

Meera Sawkar

Jennie and Regis Schilken

Aline Sejourne

Josie Sentner

Mirag Vamja

Vitamin Angels

Kay Wetzel

Worldwide Vincentian Family

Laura Wright

ShOuldERTOShOuldERSOCiETy

Anonymous

Jerry and Anna bedford

Leigh Carter and Andrew Schuman

Alex and Emily Counts

Margaret Demere

barbara DiTommaso

The Estate of bob and Marie Fehribach

The Giraud Family Trust

Anne Hastings

brian and Diana Lovett

Joe and Mary Palen

Peg Rosendrands

Fonkoze makes every effort to acknowledge all donors and expresses their regrets for any donors who are not listed. If you see that your name was excluded in error, please contact Fonkoze USA at 202-628-9033..



Pòdpè

Milo

Jan RabèlGwomòn

Lenbe

Pomago

Okap

Gonayiv

Fòlibète

Wanament

Montòganize

PonsondeFONKOZE BRANCH

Ench

Sen Michel

Twoudinò

Boukàn Kare

Tirivyè

Tomonn

Sodo

Mibale

Latwazon

Kabarè

Gantye

Fonverèt

Pòtoprens

BizotonLeyogàn

Lagonav

Beladè

Fondwa

TyotMarigo

Jakmèl

Twen

LavaleFondèblan

Miragwan

Okay

Okoto

Jeremi

Bomon

Piyon

2010 Leadership

FOnKOzEFamilySEniORSTaFF

Carine Roenen Director, Fonkoze

Anne H. Hastings CEO, Fonkoze Financial Services

Leigh Carter Executive Director, Fonkoze USA

FOnKOzEBOaRdOFdiRECTORS

Joseph b. Philippe, CSSp Coordinator

Isabelle Delpeche Treasurer

Marie Deleure Jean General Secretary

Dukentia Paul Assistant Secretary

Clamie blanc Organization Representative

Magalie bretous Advisor

Junette Estilien Advisor

Guerda Util “Ti Machann” Representative

FOnKOzEFinanCialSERviCESBOaRdOFdiRECTORS

Anne H. Hastings

Joseph b. Philippe, CSSp

Louis Prezeau

Julie Redfern

Josie Sentner

Eduard Walkers

Steve Wardle

Kathleen Wright, SL, CPA

FOnKOzES.a.BOaRdOFdiRECTORS

Olivier barrau


Anne H. Hastings

Louis Prezeau

Julian Schroeder

Chantal Hudicourt Ewald

FOnKOzEuSaBOaRdOFdiRECTORS

Francois Adrien

Claude Alexandre

Matt balitsaris, Vice Chair

Heather balke

Leigh Carter

Rev. Msgr. Franklyn M. Casale

Alex Counts, Chair

Therese Feng, Treasurer

Anne H. Hastings

Melanie Howard, Secretary


Neil P. Walsh

Frankie Warren, Board Fellow

hOnORaRyBOaRdOFFOnKOzEuSa

Jose Artiga

Jerry bedford

Mary becker

Gary becker

Maryann boord

Dr. Paul Farmer

Maureen Fenlon, OP

brian Gately

beverly Lucas

Michael McClanen

Albert McKnight, CSSp

Ruth Messinger

Louis Prezeau

Marie M.b. Racine

Michael Rauenhorst

Winston Tellis

CrediTSEditorial Team: Leigh Carter, Natalie Domond, James Kurz, Carine Roenen, Anne H. Hastings

Design: Brad Latham

Printed By: Midstates Printing, Inc.

Special Thanks: Charles Gravitz, Lyla Leigh, Linda Boucard, and Stephanie Garry

Photography: All photos not credited in the report were taken by Darcy Kiefel

Progress Since Inception

YearNumber of

Branch OfficesNumber of Employees

Number of Loan Clients

Number of Depositors Value of Deposits

Value of Loans Outstanding

1996 1 9 110 193 $78,387 $23,234

2000 16 130 4,794 13,260 $1,716,090 $938,527

2005 26 486 31,090 94,342 $7,479,011 $5,936,728

2009 41 743 45,344 198,740 $14,539,276 $8,662,041

2010 43 840 50,533 234,312 $24,067,236 $10,264,774


FONKOZE USA 1700 Kalorama Road NW

Suite 102

Washington, DC 20009

202.628.9033

www.fonkoze.org

FONDASYON KOLE ZEPÒL #12 Rue Miot

Cite Wilson 1ere, Pacot,

Port-au-Prince, Haiti

+509.3990.1003

SÈVIS FINANSYE FONKOZE #12 Rue Miot

Cite Wilson 1ere, Pacot,

Port-au-Prince, Haiti

+509.3701.3910

FONDASYON KOLE ZEPÒL | SÈVIS FINANSYE FONKOZE | FONKOZE USA

fonkoze family 2010 annual report

Documents

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fonkoze solutions

fonkoze familyfonkoze

fonkoze usafather josephe

economic recovery of

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haitis future

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