2014 - Fonkoze

Celebrating
Twenty Years
Fonkoze Family
2014 Annual Report
Contents
1
Celebrating Twenty Years
2
Our Vision and Mission
3
The Fonkoze Family of Organizations
OUR FINANCIAL SERVICES
4-5
Our Financial Services
OUR DEVELOPMENT SERVICES
6-7
Our Development Services
CLIENT AND PROGRAM PROFILES
8
Madeleine Desir, Chemen Lavi Miyò
Graduate
9
Tessie Hyppolite, Solidarity Client
10
Loudena Hilaire, Business
Development Client
11 Julio Doris, Zafèn Client
12 Adanthe Michel, Boutik Sante Owner
13
Daboune Bigot, Alfa Bon Monitor
OUR CLIENTS’ PROGRESS
14-15 2014 Social Performance Results
FINANCIAL INFORMATION
16
Our Financial Results
17
Fonkoze S.A. and Subsidiary Sèvis
Finansye Fonkoze, S.A.
18
Fondasyon Kole Zepòl
19
Fonkoze USA
DONORS AND INVESTORS
20
Thank you
21
Ways to get involved: Zanmi Fonkoze
22
Ways to get involved: Insight Trips
23
Ways to get involved: Partnerships
24
Looking Ahead
LEADERSHIP
25
2014 Leadership
ABOUT THE COVER
Vierge Joseph, a Solidarity Client, holds up one of
the eggs she is selling in her marketplace.
FROM FONKOZE FOUNDER FATHER JOSEPH PHILIPPE
Celebrating Twenty Years
T
wenty years. As a priest, I suppose that you
expect me to be a humble and modest man.
But I can’t easily hide my pleasure when I see
all that our clients, staff, and supporters have accomplished in the past two decades. From a simple office
housing a few desks and a handful of volunteers,
we have built the leading microfinance institution
in Haiti, providing services to clients in every corner
of the country. From the tiny seed that was planted
20 years ago, we are bearing much fruit, thanks to
supporters like you, who have stood with us—kole
zepòl (shoulder to shoulder)—throughout this journey.
Our Fonkoze family of organizations—Sèvis Finansye Fonkoze, S.A. (SFF),
Fondasyon Kole Zepòl (the Foundation), and Fonkoze USA—is often so busy
serving our clients that we forget to step back and look at how far we’ve come.
This 2014 Annual Report is a celebration of all we have achieved together this
year and over the past 20 years. Chapo ba, zanmi ‘m! (Hats off, my friends!)
While the Fonkoze family, collectively,
celebrates 20 years, our financial services, SFF,
celebrates its tenth anniversary. Today, SFF serves
over 200,000 clients with savings, loans, money
transfer, and other vital financial services through
its network of 45 branches and 2,000 credit
centers throughout the country.
In 2014, SFF raised new funds and made dramatic strides toward financial sustainability, with
a goal of becoming a profitable institution by 2016.
We continued to reach out to some of Haiti’s most vulnerable, serving 9,225 new
clients through our introductory microcredit program, Ti Kredi, thanks to generous partnerships with the W.K. Kellogg Foundation and Whole Planet Foundation.
The Foundation continues its innovation of the development
services we provide. In this report, you will read about a new partnership
with Kiva as well as a new microfranchising program, “Boutik Sante”
(Community Health Store).
Fonkoze USA is deepening relationships with supporters and friends both
inside and outside of Haiti. After all, it has been you, our faithful supporters,
who have walked this path with us for twenty years. Fonkoze USA’s goal is to be
the best partner to its Haitian partners, SFF, and the Foundation.
With this message, I thank the entire Fonkoze community—clients, staff,
friends, investors, and donors—for 20 years of commitment to ending poverty in
Haiti. May The Lord bless us all and strengthen us in this struggle to empower
economically the organized poor in Haiti.
From a simple office housing a few desks and
a handful of volunteers, we have built the leading
microfinance institution in Haiti, providing services
to clients in every corner of the country.
FONKOZE FAMILY 2014 ANNUAL REPORT
1
Our Vision
Our Mission
Fonkoze’s vision is a Haiti where
people, standing together,
shoulder to shoulder, have pulled
themselves out of poverty.
Fonkoze is a family of organizations
that work together to provide the
financial and non-financial services
to empower Haitians—primarily
women—to lift their families out
of poverty.
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FONKOZE FAMILY 2014 ANNUAL REPORT
The Fonkoze Family of
Organizations
F
ounded in 1994, Fonkoze started
as a grassroots movement
inspired by Fr. Joseph Philippe
and other leaders in Haiti with the
idea that the rural poor needed a
“bank they could call their own.”
With a focus on rural women,
Fonkoze provided financial and
development services to people who
had never had access to them before.
Having their own “bank” meant
they might begin to participate in the
economic development of their own
country. But providing a “bank” that
taught them to read and write is what
distinguished Fonkoze early on. Now,
20 years later, that founding vision
has become a reality through the
collaboration of Fonkoze Family’s three
institutions:
Fonkoze, S.A. and subsidiary,
Sèvis Finansye Fonkoze, S.A. (SFF),
is the Haitian financial institution
that grew out of Fonkoze’s founding
vision. It provides all of Fonkoze’s
financial services, including loans,
savings accounts, money transfers, and
currency exchange, among others. SFF
connects with almost all of its clients
through a nationwide network of 45
branch offices, that reach over 2,000
Credit Centers, that include 14,833
Solidarity Groups, that are composed
of 58,989 clients. This network is the
platform through which the Fonkoze
Family, as a whole, promotes financial
inclusion in Haiti.
Fondasyon Kole Zepòl (the
Foundation) leverages the SFF network
to provide development services to SFF
clients and their communities. The synergy between SFF and the Foundation
ensures that our clients’ economic progress is reinforced by improved health
outcomes, educational opportunities,
livelihood strategies, and business management skills. The Foundation serves
clients who need non-financial forms of
support as well as families who may fall
outside the reach of SFF, such as those
in the Chemen Lavi Miyò Program for
the ultra-poor.
Fonkoze USA is the channel through which SFF and the
Foundation engage their supporters
worldwide. Founded in 1997 by U.S.
and Haitian-American supporters,
Fonkoze USA raises funds to fulfill
the Fonkoze mission; leverages
technical assistance for the work
in Haiti; accompanies donors and
social investors to the field; provides
due diligence and tax-deduction for
donations; and serves as the voice of
the entire Family outside Haiti.
FONKOZE FAMILY 2014 ANNUAL REPORT
3
A client withdraws cash from his
savings account
Pòdpè
Pomago
Jan Rabèl
Gwomòn
Lenbe
Okap
Fòlibète
Twoudinò
Milo
Gonayiv
FONKOZE BRANCH
Sen Michel
CLIENT CENTERS
(approximate locations)
Wanament
Sen Rafayel
Ponsonde
Piyon
Montòganize
Ench
Tirivyè
Tomonn
Boukàn Kare
Mibalè
Beladè
Sodo
Lagonav
Kabarè
Latwazon
Jeremi
Pòtoprens
Bomon
Ti Rivye d’Nip
Miragwan
Aken
Okoto
Okay
Gantye
Leyogàn
Fondèblan
Twen
Fondwa
Lavale
Marigo
Fonverèt
Belans
Tyot
Jakmèl
Our Financial Services
In fiscal year 2014 (ending September
30, 2014), Sèvis Finansye Fonkoze, S.A.
(SFF) achieved the following results:
LOANS: With nearly 60,000 loan
clients, loans range in size and
duration in accordance with client
needs and capacity.
k$11.0 million portfolio
k$29.0 million disbursed
k138,273 loans disbursed
SAVINGS: The clients who take
advantage of SFF’s savings services
range from established businesses
to individuals who have never had a
savings account before.
k202,688 savings clients
k$24.9 million in savings
k2,790 transactions per day
MONEY TRANSFERS: With remittances
making up 21% of Haiti’s Gross
Domestic Product (GDP), SFF’s facilitatation of money transfers—provided
through CAM and Moneygram—is an
essential role we play in the Haitian
economy. Digicel Tcho Tcho is another
domestic money transfer service that
connects our clients.
k$87.1 million in transfers
kOver 250,000 transactions
k$462,203 in income to SFF
CURRENCY EXCHANGE: Both US
Dollars (USD) and Haitian Gourdes
(HTG) are accepted and used widely
in Haiti. SFF buys and sells USD.
k$125.7 million in transactions
k$636,500 in income to Fonkoze
PAYROLL SERVICES: SFF supports
organizations—including those based
overseas—to complete regular payroll
cycles. For example, a charitable institution in the United States that sponsors
a school in Haiti will send a lump
sum to SFF that we deposit directly in
their employees’ savings accounts. In
fiscal year 2014, SFF provided payroll
services to 26 institutions.
FONKOZE FAMILY 2014 ANNUAL REPORT
5
Jeannette Cineas, a Boutik Sante owner, reaches
for a product to sell to one of her clients.
Our Development Services
HEALTH
k Boutik Sante: Only 25% of Haitians
have access to health supplies and
services, and prices of health products
are often ten times the international
reference price. Fonkoze’s innovative
microfranchising pilot initiative is
enabling clients to expand access to
over-the-counter health products in
their communities while simultaneously generating a small profit. The
program provides Fonkoze clients
with start-up materials, business
skills, and basic healthcare training
to be able to open a Boutik Sante
(Community Health Store) in their
communities. They sell products
such as ibuprofen, water purification
tablets, sanitary pads, and pregnancy
tests. Registered nurses train Boutik
Sante owners to provide basic health
counseling, screening, testing, and
referral services. By the end of
1
6
FONKOZE FAMILY 2014 ANNUAL REPORT
2014, 69 Boutik Sante were open for
business; Fonkoze will build on the
success of the 2014 pilot to expand to
300 Boutik Sante in 2015.
k Cervical Cancer Screening: Cervical
cancer constitutes 33% of all reported
cancer in Haiti, and patients’ prognoses are often dire. Those with
advanced cases have a survival rate
of only 5% over five years. Through
a partnership with the Sacred Heart
Hospital in Milo, Fonkoze began referring clients to their full gynecological
services—paid for through a Fonkoze
grant. A registered nurse trained 57
Fonkoze Center Chiefs on the risks,
causes, symptoms, signs, and treatment of cervical cancer; the Chiefs, in
turn, encouraged their center members
to visit the clinic for screening. Of
the 198 Fonkoze clients who were
screened in 2014, 19 were identified
as being at high risk for cervical
cancer or as having early-stage cancer
and received appropriate treatment.
Contingent on funding, Fonkoze hopes
to expand the screening services to
three more branches in 2015.
PHOTO, THIS PAGE: NIKELSON PIERRE-LOUIS
CHEMEN LAVI MIYÒ (CLM)
k Fonkoze’s “graduation” program
for the ultra-poor, Chemen Lavi Miyò
(CLM, or Pathway to a Better Life)
has reached almost 5,000 families
since its pilot in 2008. The program
continues to sweep through the
Central Plateau bringing hope through
sustainable livelihoods to its members.
The CLM team continues to achieve
very high graduation rates, with 97%
of CLM members able to feed their
family twice a day, send most of their
children to school, and manage at least
two stable income-generating activities after the 18 months of intensive
coaching. Its new experiment in value
chain development will broaden the
range of ways it can help families build
better lives for the long term.
k With support from Texas Christian
University (TCU) and the Digicel
Foundation, the CLM team joined
with Haiti’s Secretary of State for
the Integration of Persons with
Disabilities to pilot an adaptation
of CLM designed to help Haiti’s
disabled poor achieve greater
independence through sustainable
livelihoods. While learning how to
work with people to overcome major
disabilities, the CLM team is also
testing a new way to help people
learn to accumulate savings, called
“More than Budgets,” which was
developed at TCU.
EDUCATION
k Alfa Chif: With an illiteracy rate of
over 40% for new Fonkoze clients,
adult education classes are essential
non-financial services that we provide.
Even a skill as simple as the ability to
sign one’s name is invaluable to our
clients. Basic numeracy lessons have
long been informally integrated into the
Fonkoze’s Alfa Bon (Literacy) course,
which we offer in as many branches as
we can, based on funding. (This year,
adult education courses were offered
in seven of our 45 branches.) However,
staff recognized the need to include
formal numeracy instruction, especially
as a means of helping clients to build
simple accounting skills. In 2014, the
Education team developed an Alfa Chif
(Numeracy) manual and associated
lessons that will constitute three weeks
of the traditional six-month Alfa Bon
course. Staff will roll out and test the
new lessons in 2015.
k Education Program Evaluation:
In the interest of continual monitoring and evaluation of Fonkoze’s
Programs, the Education Department
conducted a baseline study of two of
its core programs, the Jesyon Biznis
(Business Skills) course and Ti Koze
(Little Chat) course. Jesyon Biznis
is a comprehensive business skills
training; Ti Koze expands
decision-making skills
related to business, health,
and disaster mitigation.
In 2014, the Education
Department prepared and
executed a baseline survey
in three branches. The
results of the survey will be
analyzed in 2015.
building business administration
skills, such as basic accounting, daily
recordkeeping, marketing strategies,
and savings management.
YOUTH SAVINGS AND CREDIT
PILOT PROJECT
In 2014, we assessed the results of a
pilot Youth Credit and Savings project
geared towards young people aged
15–24 years. From 2012–2014, Fonkoze
worked with Plan Haiti to implement a
project designed to sustainably increase
access to quality microfinance services
for vulnerable women, youth, and rural
households. Through the project, 800
women living in isolated Belans gained
access to savings and credit services. In
addition, 1,060 youth opened savings
accounts with an average balance of
ZAFÈN
k Kiva Partnership: As a
way of garnering funding
support for entrepreneurs
in our Zafèn Program,
The Association of Women from Karenaj (AFAK) benefits
Fonkoze established a
from Zafèn’s partnership with Kiva. The women make
partnership with Kiva, a
shirts, dresses, and other clothing to sell. A Zafèn/Kiva loan
non-profit crowdfunding
enabled them to purchase a fabric printing machine, which
prints designs and logos on clothing.
platform. Kiva connects
individual donors around
the world with small
HTG 450, and 275 youth received basic
entrepreneurs through microfinance
institutions like Fonkoze. In June 2014, financial literacy training. Moving forZafèn projects went live on Kiva. Most ward, Fonkoze plans to train all credit
agents on youth-inclusive financial
of the projects were funded in less
services as a means of better engaging
than 24 hours, with all 63 Zafèn loans
and supporting young clients.
fully funded, for a total of $157,025.
The Zafèn team then coaches the
entrepreneurs through the loan cycle,
FONKOZE FAMILY 2014 ANNUAL REPORT
7
Madeleine Desir,
Chemen Lavi Miyò
Graduate and current
Solidarity Client
M
adeleine Desir says that she is
not in business “to buy nice
stuff” and to amass wealth.
Her goal is simple: to feed her
children and send them to school.
Even this modest goal, however,
was out of reach before Madeleine
joined Fonkoze’s Chemen Lavi Miyò
(CLM, Pathway to a Better Life)
program for Haiti’s ultra-poor. Living in
a small community along the highway
that runs north from Mibalè and Ench
to Okap, Madeleine says that in 2012
she struggled. “We had problems. We
didn’t have a house. If I could buy
something for my children to eat one
day, we’d have to do without the next.”
CLM helped Madeleine establish
two livelihood strategies that would
serve as her safety net. She received
three goats that eventually had kids.
Three goats turned into six and then
ten. She was able to sell some of
them to buy a cow which, in turn,
gave her a calf.
Madeleine Desir (right), a CLM graduate
and Solidarity client, poses with her
Loan Officer, Saint Amour Joseph.
The small business that had never
been profitable finally began to grow.
She used to sell candles in her village
from a basket she carried on her
head. As she began to make more
money, she added other products—
first snack crackers and cookies, then
more varieties of each.
When she graduated from CLM,
Madeleine joined four other women
in a Solidarity Group so
that she could start taking
Madeleine displays the various snacks that she will sell
loans from Fonkoze. She’s
from her basket in the market.
now sending both her
children to school and can
even pay for transport so
they don’t have to walk.
While Madeleine’s ambitions may be humble, her
Loan Officer, Saint Amour
Joseph, says, “Madeleine is
disciplined and determined.
She seems like someone
who will go a long way.”
For now, though,
Madeleine smiles and
8
FONKOZE FAMILY 2014 ANNUAL REPORT
references the Haitian proverb
that says one should “hang up her
makout (purse) where she can reach
it.” She does not want to take on a
larger business than she can manage,
though her eyes twinkle when she
speaks of her next step: buying her
first plot of land that she will be able
to pass on to her children one day. CLM BY THE NUMBERS
Number of new families who joined
CLM:
1,040
Total number of families reached in 2014:
1,650
2014 graduation rate:
97%
PHOTOS, THIS PAGE: STEVEN WERLIN
CHEMEN LAVI MIYÒ (CLM)
Client and Program Profiles
Tessie Hyppolite,
Solidarity Client
T
Tessie Hyppolite, a Solidarity client, gestures proudly
to the variety of products she now sells in her boutik.
well, and I got necessary training
from Fonkoze to better manage my
business. My life and the lives of
my family members have improved
tremendously.” Indeed, Tessie and
her husband’s commitment to their
children’s education never faltered.
Now adults, her daughter has
become an agronomist and her two
sons are studying finance at a university. “Without Fonkoze,” Tessie says,
“none of this would be possible, and
I wish I could say something more
than just ‘thank you, Fonkoze.’”
SOLIDARITY
hat her children would be
well-educated was non-negotiable for Tessie Hyppolite.
She and her husband started their
careers as primary school teachers in
Pòmago. They recognize the value of
education in a country where social
mobility is limited.
And yet, even with an education,
Tessie knows that making ends meet
can be a struggle. That was what
forced her to leave her teaching position when her children were young.
The money she and her husband
earned as teachers was enough to
send their children to school, but they
had little left over for other expenses.
Tessie decided that small commerce
would bring in more income and
enable her to spend more time caring
for her children.
She started her first business selling
cold beverages and snacks in front of
her home. She soon realized that she
would need to expand the business in
order to make ends meet. Tessie said
that a Fonkoze recruitment meeting
“basically changed my life.” She
and four other women established a
Solidarity Group and became Fonkoze
clients. With her first loan of $75, Tessie
slowly began adding to her inventory.
Now, Tessie is taking out loans
of $1,250 to expand her store and
to support a new endeavor: an agricultural project planting hot peppers
and plantains. Not only is the project
supporting her family, but she is able to
hire as many as ten people to work in
her field. She is giving other members
of her community income opportunities she once lacked.
Tessie’s success exceeded her
dreams. “My business is doing really
SOLIDARITY AND TI KREDI
BY THE NUMBERS
Number of active clients:
58,989
Loan portfolio outstanding:
$8,788,284
Amount disbursed:
$25,074,581
Number of loans disbursed:
137,708
Average loan amount:
$182
FONKOZE FAMILY 2014 ANNUAL REPORT
9
BUSINESS DEVELOPMENT
Client & Program Profiles
Loudena Hilaire,
Business Development
Client
L
oudena Hilaire is one example of
the power of microcredit in the
hands of a woman. Before joining
Fonkoze, Loudena and her husband,
a mechanic, relied on his modest
income to support their household
and three children. But when the
children were old enough to attend
school, they knew that they would
not be able to make ends meet. They
had no savings and no backup plan
in case of emergency.
Loudena started a small business selling rice, beans, and bread.
Realizing that bread sales were the
most profitable, Loudena decided
to form a Solidarity Group of five
women and join Fonkoze. With her
first $80, Loudena bought three bags
of flour and rented a stone bakery
oven in her town of Lenbe, near
Okap. Soon, demand surpassed her
expectations, and her small baking
business grew to include cosmetics
and food items.
Now, seven years later, she borrows over $1,550. She has graduated
from the Solidarity lending program
and is now a Business Development
client. She rents the space in front
of her bakery to sell the bread and
other items. Everyone in the community relies on her store, and for the
less fortunate, she allows them to
purchase items on credit.
The income from her business
enabled her to buy land for agriculture, a pickup truck, cattle, and
goats. She explained that these
purchases, as well as her savings
account, serve as a cushion of assets
and funds in case of emergency.
The combined income of Loudena
and her husband now provides for
their family. She says that Fonkoze’s
10
FONKOZE FAMILY 2014 ANNUAL REPORT
Loudena Hilaire , a Business Development client, offers fresh-baked bread to her clients.
approach of working primarily with
women is important, because they
are the ones who mostly take care of
the children—particularly those who
are raising children on their own.
Loudena still pays her children’s
school fees, and she knows that if
they ever need anything, she does
not have to rely on her husband
to make the purchase. She says, “I
have achieved a lot since I’ve been a
Fonkoze client. I am excited for the
future of my children, and that is a
great feeling.”
BUSINESS DEVELOPMENT
BY THE NUMBERS
SMALL AND MEDIUM ENTERPRISE
BY THE NUMBERS
Number of clients:
Number of clients:
Loan portfolio outstanding:
Loan portfolio outstanding:
Amount disbursed:
Amount disbursed:
432
$892,393
52
$1,271,920
$1,804,005
$2,546,526
Number of loans disbursed:
Number of loans disbursed:
Average loan amount:
Average loan amount:
485
$2,066
70
$24,455
J
ulio Doris’s agronomy degree
from a university in Pòtoprens
could have earned him a lot more
money had he decided to stay in the
city. Instead, he returned to Boukan
Kare, his small village in the Central
Plateau, because he wanted to work
with community members and build
an agricultural enterprise. Julio is
proud of his decision. “I wanted,
most especially, to help those children
who did not have the opportunity to
further their studies like I did.”
Julio grew up watching and
helping his parents work in their
fields—harvesting potatoes, cabbage,
beans, corn, and other produce. He
dreamed of a career as a farmer and
pursued agronomy when he finished
high school in Boukan Kare.
In 2007, he founded an agricultural cooperative, which he
called OPDHAEH (The Peasant
Organization for Agro-Economic
and Human
Development). The
cooperative opened
with 30 men and
women members.
By coordinating their
Julio Doris waters his garden under protective netting.
efforts, they would
be able to diversify their produce,
In addition to donations of tools and
protect one another from unforeseen
equipment from non-profit organizashocks, and maximize efficiency of
tions, he says, “Zafèn’s loan was crucial
their equipment and labor.
in an effort to expand our inventory
They quickly realized that they
of tools for production.” Now, the
would need additional financial
organization supports 150 families who
support to achieve their goals. So,
are able to feed their children and send
they joined the Zafèn program,
them to school. Julio has high hopes for
through which they took out a
his cooperative, hoping that its reach
$5,500 loan. The loan enabled them
will eventually extend throughout the
to purchase composting equipment
Central Plateau.
that would transform waste material
from their livestock and farms into
ZAFÈN BY THE NUMBERS
natural fertilizers. The farmers are
already seeing positive results.
Number of new loans in 2014:
Production grew 10% in the past
year, leading to increased revenue for
the cooperative.
Julio provides agricultural techTotal clients in 2014:
nical assistance to all the farmers in
OPDHAEH and in his community.
127
175
Julio explains the technology he uses to feed his chickens.
Average loan amount:
$2,200
Total amount of loan funds disbursed:
$279,400
Number of new jobs created:
882
Smallest loan disbursed:
$600
Largest loan disbursed:
$8,000
FONKOZE FAMILY 2014 ANNUAL REPORT
11
ZAFÈN
Julio Doris,
Zafèn Client
HEALTH PROGRAMS
Client & Program Profiles
Adanthe Michel,
Solidarity Center Chief,
Boutik Sante Owner
A
danthe Michel was no stranger
to managing a small business
when she became a Solidarity
Client with Fonkoze. Growing up in
Plezans, a small town near Okap, she
helped her mother sell beans, oil, rice,
and other products in the marketplace.
Unfortunately, this small, unstable
enterprise was often not enough
for Adanthe’s mother to keep her
family healthy and well-fed. When
Adanthe was old enough to start
her own business, she encountered
the same challenges with which her
mother struggled. When the father of
Adanthe’s two children left her, she
turned to her friends and to Fonkoze.
She and four peers formed a
Solidarity Group they named Tèt
Ansanm (Heads Together) in 2008.
Adanthe’s first Fonkoze loan
was for $75. Seven years later, her
businesses and capacity to manage
funds has grown so much that she is
taking out loans of nearly $1,000.
Now a confident businesswoman
and an elected Fonkoze Center Chief,
Adanthe is participating in one of
Fonkoze’s innovative new programs,
Boutik Sante (Community Health
Store). Boutik Sante is a microfranchising initiative that expands access
to health products and basic health
services to rural and hard-to-reach
areas of Haiti (see p. 6). “This is
extremely important when you live
in a mountainous rural area and the
first real healthcare is very far away,”
Adanthe explained.
Adanthe and other Boutik Sante
owners have small stores that sell
products like anti-parasitic medications, oral rehydration treatment,
sanitary pads, and eye glasses. The
Foundation manages the supply
chain and registered nurses provide
them with training in basic health
services, such as administering
over-the-counter health products,
screening children for malnutrition,
and offering counseling.
Adanthe occasionally receives
calls from community members in
the middle of the night to see a child
with a very high fever. She is proud
of her leadership and the services
she is providing to her community.
Adanthe did not lack experience in
business before joining Fonkoze, but
she did lack the skills and capital to
make it successful enough to provide
for her family. She said, “My life
changed after Fonkoze. I don’t feel
desperate anymore. I know things
will keep getting better.”
HEALTH PROGRAMS
BY THE NUMBERS
Number of beneficiaries served in 2014:
Vitamin A:
6,500
children under 5
Multivitamins:
Adanthe Michel, (right) a Boutik Sante owner, soothes a child after taking her vital signs.
25,891
children under 5
Prenatal vitamins:
3,152
pregnant and
lactating women
Number of center chiefs trained to
screen for malnutrition:
80
Number of community children screened
for malnutrition:
120
12
FONKOZE FAMILY 2014 ANNUAL REPORT
Daboune Bigot,
Solidarity Client and
Alfa Bon Monitor
I
n the past 15 years, the Foundation’s
Education Program has provided
trainings and courses to nearly
127,000 individuals. These courses
are dependent on support from our
generous donors.
Fonkoze’s social mission hinges
not only on the work of our dedicated
staff but also on the commitment of
our clients to bettering the situation
of their communities. One such client
is Daboune Bigot. A Solidarity Client
for over two years, Daboune serves
as a Training Monitor for Fonkoze’s
Education Program.
She says, “I feel very excited
when I am teaching other people,
especially my peers.” With entering
clients having an illiteracy rate of
over 40%, Fonkoze engages literate
clients like Daboune to teach basic
literacy and numeracy skills to
their peers.
Daboune holds a class for 12
participants twice a week, teaching
from Fonkoze’s Alfa Bon (Literacy)
book. “They are so happy when they
can finally read and write their names,”
Daboune explained. She spoke about
one of her students, Amonise Jean
Louis, who could not even write a letter
of the alphabet before she participated
in Daboune’s class. Amonise says that
being able to read has been one of the
greatest achievements of her life.
Acquiring literacy skills gives clients
a newfound dignity and social status.
They no longer need to use their
fingerprints to sign important documents, like their children’s report cards.
Naturally, it also enables clients to
better manage their small businesses.
All the same, one of the biggest challenges that Daboune encounters is that
some participants lack confidence and
doubt their ability to learn to read and
write as an adult. Daboune does her
best to combat this sentiment with constant reassurance and encouragement.
The nominal stipend Daboune
receives for teaching the Alfa Bon class
supplements the income from the
small boutik she owns in front of her
house. She sells sugar, rice, flour, and
other goods and joined the Solidarity
Program with four other women to
expand her business. She and her husband, a mechanic, pool their income
to support their household in Leyogàn
and provide for their two children.
EDUCATION PROGRAMS
BY THE NUMBERS
Women who graduated from
Adult Education classes in 2014:
1,796
Number of branches that offered
Adult Education:
7
Graduation rate:
96.4%
FONKOZE FAMILY 2014 ANNUAL REPORT
13
EDUCATION PROGRAMS
PHOTO, ABOVE: NIKELSON PIERRE-LOUIS
Holding their
Alfa Bon textbooks,
Daboune Bigot
(left) and Amonise
Jean Louis (right)
share a smile.
Our Clients’ Progress
2014 Social Impact Results
T
hrough Fonkoze’s Social Impact Team, we continue to hone our mechanisms for compiling and tabulating data
about our clients. This critical data shapes the products and services we offer while simultaneously ensuring that
Fonkoze remains true to its mission. The data presented here represent a small selection of the many indicators
we track at specific intervals throughout clients’ engagement with Fonkoze.
Percent living
below $1/day
CHEMEN LAVI MIYÒ (CLM) is Fondasyon
Kole Zepòl’s 18-month program for the
ultra-poor. Based on the “Graduation
Model,”2 CLM supports individuals who
have fallen through the cracks of Haiti’s
social structure. Through the provision
of productive assets, small commerce
training, nominal stipends, and extensive
mentoring, CLM supports women to
lift their families out of ultra-poverty,
providing a foundation for them to access
financial services. (sample size: 160)
BASELINE
(FOR 2014
GRADUATES)
2014
GRADUATES
86%
65%
Percent living
below $1/day
TI KREDI is SFF’s introductory six-month
lending program through which Loan
Officers provide added support and
supervision to clients who may never have
had a loan before. Ti Kredi features loans
that increase in size and repayment cycle
length in order to help women learn how
to successfully manage a small business.
(sample size: 663)
SOLIDARITY LENDING is SFF’s core
program, with over 55,000 active clients.
Individuals form “Solidarity Groups” of five
women that meet at one of the more than
2,000 Credit Centers located throughout
the country. The group members support
and encourage one another while also
holding their fellow members accountable
for effectively managing their finances.
(sample size: 144)
14
FONKOZE FAMILY 2014 ANNUAL REPORT
ENTERING
TI KREDI
GRADUATING
FROM TI
KREDI
INCOMING
CLIENTS
61%
58%
52%
Percent living
below $2/day
97%
Food insecure
with hunger
100%
34%
84%
Percent living
below $2/day
Average savings
$3
78%
$15
75%
$16
69%
$75
AFTER 4 YRS
47%
64%
Dumorin Merline,
a CLM client in
Mibalè, and her
husband pose
with their newly
acquired cattle.
Tin roof or better
52%
95%
Own house
Can read and write
her name
26%
3%
53%
95%
99%
Food insecure
Send all children
to school
95%
66%
95%
99%
Latrine
Cement floor
98%
Latrine
92%
Send all children
to school
83%
Own small
assets
40%
86%
57%
60%
83%
45%
78%
60%
66%
92%
62%
76%
79%
70%
80%
24%
83%
87%
94%
99%
FONKOZE FAMILY 2014 ANNUAL REPORT
15
Our Financial Results
Jasmin Marie Wisline, a Solidarity client in Mibalè,
shows her kane (savings passbook) to her grandchild
Fonkoze S.A. and Subsidiary
Sèvis Finansye Fonkoze, S.A.
S
èvis Finansye Fonkoze, S.A.
(SFF) is a registered Haitian
for-profit, joint-stock company
established in 2004. Fonkoze S.A.
is our Haitian holding company. As
of September 2014, SFF’s fiscal year
end, SFF serves more than 59,000
borrowers and 202,000 savings
clients through our network of 45
branch offices located throughout
Haiti’s ten departments. In terms of
outreach, SFF is by far the largest
microfinance institution in Haiti.
With over 700 full-time staff, we
the overall operating losses for the
year for Fonkoze S.A. and SFF totaled
HTG 70.9 million (USD 1.56 million).
In fiscal year 2015, SFF will
launch a campaign to increase our
equity capital by US $4 million.
We will also continue working to
strengthen our operational and
financial performance as we pursue our mission of empowering
Haitians—primarily women—to lift
their families out of poverty.
are also one of the largest private
employers in Haiti.
SFF continues on our path toward
full financial sustainability. We were
able to improve operating results by
over 59% from the previous year
putting us on a path to profitability
by 2016. At 2014 fiscal year-end, SFF
wrote down part of its investment
in Microinsurance Catastrophic Risk
Organization (MiCRO) recording a
one-time extraordinary loss of HTG
44.6 million (USD 978,000) on the
investment. On a consolidated basis,
CONSOLIDATED BALANCE SHEET
INCOME STATEMENT
All amounts are expressed in Haitian gourdes (HTG)
All amounts are expressed in Haitian gourdes (HTG)
Exchange Rate HTG/USD at end of reporting period
45.5577
43.7429
Average Exchange Rate HTG/USD during reporting period
44.7161
43.1329
Year Ended
Sept. 30, 2014
Year Ended
Sept. 30, 2013
248,172,124
(11,651,814)
236,520,310
(23,239,158)
213,281,152
86,861,547
229,695,418
(19,476,730)
210,218,688
(62,629,719)
147,588,969
95,996,167
300,142,699
243,585,136
181,820,700
142,347,092
17,967,014
214,664,236
111,250,656
19,582,516
342,134,806
345,497,408
(41,992,107)
45,608,313
(44,559,696)
(27,471,508)
(101,912,272)
89,351,497
(22,265,884)
(68,414,998)
(2,910,000)
(34,826,659)
(546,259)
(71,324,998)
410,056
(35,372,918)
608,466
(70,914,942)
(34,764,452)
FONKOZE FAMILY 2014 ANNUAL REPORT
17
ASSETS
Sept. 30, 2014
Sept. 30, 2013
REVENUES
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
343,702,890
30,948,676
224,540,512
498,975,121
(14,437,655)
484,537,466
153,478,447
51,114,539
337,382,347
72,129,436
316,801,658
476,656,217
(28,726,746)
447,929,471
127,767,667
68,584,683
Interest Income (Loans and Other)
Less: Interest Expense
Net Interest Income
Less: Provision for Loan Losses
Net Interest Income After Provision for Loan Losses
Other Operating Income
Net Interest Income and Other Income
1,288,322,530
1,370,595,262
OPERATING EXPENSES
LIABILITIES
Deposits
Notes Payable
Other Liabilities
Total Liabilities
1,134,267,402
199,387,352
69,636,791
1,403,291,545
1,189,566,739
168,958,629
78,036,382
1,436,561,750
Capital Stock and Paid in Capital
Retained Earnings (deficit)
Accumulated Other Comprehensive Gain
Total Shareholders’ Equity
358,625,516
(477,416,296)
3,821,765
(114,969,015)
336,713,101
(406,091,298)
3,411,709
(65,966,488)
Total Liabilities And Shareholders’ Equity
1,288,322,530
1,370,595,262
SHAREHOLDERS’ EQUITY
Salaries and Benefits
Other Administrative Expenses
Depreciation and Amortization
Total Operating Expense
Net Loss from Operations Before Income Tax
Operating grants
Loss on revaluation of MiCRO investment
Other income (expense)
Net Loss Before Tax
Provision for Income Tax
Net Income (Loss)
Other comprehensive income
Comprehensive Income (loss)
Our Financial Results
Fondasyon Kole Zepòl
T
he overall expenses of the
Foundation in 2014 remained
roughly the same as in 2013.
Our biggest program remains Chemen
Lavi Miyò, which received an
important four-year grant at the end
of the year from the Swiss Agency
for Cooperation and Development.
This accounts for the large “accounts
receivable” on our balance sheet.
We are pleased to announce that our
central office costs did not exceed
the benchmark of 20% of the total
budget. With support from Fonkoze
USA, we were able to reimburse a
substantial part of our outstanding
social loans and pay down the agreed
part of our debt to SFF. This would
have improved the situation of our
balance sheet had it not been for the
Foundation’s share of the loss on
SFF’s investment in MiCRO which
totaled USD 384,669 (see p.17).
STATEMENT OF FINANCIAL POSITION
All amounts are expressed in Haitian gourdes (HTG)
Exchange Rate HTG/USD at end of reporting period
46.7477
43.8820
Year Ended
December 31, 2014
Year Ended
December 31, 2013
78,974,821
87,721,469
154,289,687
7,554,182
379,235
75,846,436
98,941,049
72,740,868
1,803,323
1,352,135
328,919,394
250,683,811
5,145,921
7,964,377
4,771,677
11,859,078
342,029,692
267,314,566
36,250,956
177,265,686
213,516,642
22,584,529
217,783,578
240,368,107
Unrestricted
Temporarily Restricted
Total Net Assets
(148,498,298)
277,011,346
128,513,048
(142,600,962)
169,547,421
26,946,459
Total Liabilities And Net Assets
342,029,691
267,314,566
45.222
43.4706
Year Ended
December 31, 2014
Year Ended
December 31, 2013
243,651,747
2,961,239
(6,987,437)
134,793,681
775,676
(19,432,209)
239,625,549
116,137,148
Program Services
Central Office Costs
109,171,187
26,857,585
111,780,598
30,942,839
Total Expenditures
136,028,772
142,723,437
Change in Net Assets
103,596,777
(26,586,289)
ASSETS
Cash and Equivalents
Investments
Accounts Receivable
Loans, Net of Allowance for Loan Losses
Prepaid Expenses
Total Current Assets
Net Fixed Assets
Other Assets
Total Assets
LIABILITIES
Current Liabilities
Long Term Liabilities
Total Liabilities
NET ASSETS
STATEMENT OF ACTIVITIES
All amounts are expressed in Haitian gourdes (HTG)
Average Exchange Rate HTG/USD during reporting period
REVENUES
Contributions and Grants
Interest Income
(Loss) on Investments, Exchange Rate Fluctuations, and Revaluations
Total Revenues
EXPENSES
18
FONKOZE FAMILY 2014 ANNUAL REPORT
Fonkoze USA
H
ere at Fonkoze USA, we continue
our work of outreach, communications, and fundraising. We love
sharing the inspiring story of Fonkoze,
and of Haiti, while providing the
quality stewardship and due diligence
donors and social investors want
and deserve. In accordance with this
commitment, we are pleased to report
that over 87% of our expenses in 2014
went to support our programs in Haiti.
Once again, Fonkoze USA received the
highest ratings from Charity Navigator,
GuideStar, and Better Business
Bureau’s accredited charity program.
As you review our financial
reports for 2012-2014 you will notice
a sharp decline in income in 2013 followed by a sharp increase in expenses
in 2014. This fluctuation is due, in
large part, to the accounting requirements for multi-year grants. When a
grant contract is signed, non-profit
accounting standards dictate that the
entire amount of the grant is booked
to that year’s income. The actual
funds, however, are often not received
until subsequent years. Fonkoze USA
does not issue grants to our partners
in Haiti until we receive the funds that
were promised to us. In 2012, Fonkoze
USA received grant contracts in excess
of $2 million of which more than $1.4
million of the funds were not received
and dispersed by us until subsequent years. The line for PROGRAM
SERVICES AND GRANTS TO HAITI
more closely reflects our year-to-year
support of our partners in Haiti.
STATEMENT OF FINANCIAL POSITION
All amounts are expressed in U.S. Dollars
Year Ended
December 31, 2014
Year Ended
December 31, 2013
Year Ended
December 31, 2012
$267,205
2,377,767
14,449
$278,162
2,946,759
13,697
$713,589
2,013,758
6,057
$2,659,421
$3,238,618
$2,733,404
14,373
1,227,314
1,276,124
10,417
21,363
1,287,443
1,519,124
11,847
7,204
1,168,376
2,347,525
10,846
$5,187,649
$6,078,395
$6,267,355
$2,251,293
1,186,124
$3,437,417
$1,945,435
1,344,124
$3,289,559
$1,283,761
2,091,511
$3,375,272
Unrestricted
Unrestricted - Board Designated for Endowment
Temporarily Restricted
Permanently Restricted for Endowment
Total Net Assets
$369,781
624,225
654,226
102,000
$1,750,232
$600,910
684,202
1,401,724
102,000
$2,788,836
$662,323
569,776
1,562,984
97,000
$2,892,083
Total Liabilities And Net Assets
$5,187,649
$6,078,395
$6,267,355
Year Ended
December 31, 2014
Year Ended
December 31, 2013
Year Ended
December 31, 2012
$3,022,489
102,950
63,662
$2,880,435
103,929
116,008
$4,649,696
69,103
118,287
$3,189,101
$3,100,372
$4,837,086
$3,705,761
$2,736,259
$3,003,163
ASSETS
Cash and Equivalents
Short-term Receivables
Prepaid Expenses
Total Current 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 & Capital Gain Income
Other Income
Total Revenues
EXPENSES
PROGRAM SERVICES AND GRANTS TO HAITI
SUPPORTING SERVICES
Fundraising
Administration
Total Supporting Services
Total Expenses
240,436
281,508
521,944
232,364
234,996
467,360
236,339
218,301
454,640
$4,227,705
$3,203,619
$3,457,803
Change In Net Assets
$(1,038,604)
$(103,247)
$1,379,283
FONKOZE FAMILY 2014 ANNUAL REPORT
19
Donors and Investors
Thank you
F
onkoze is tremendously grateful to the individuals and
institutions whose financial support makes our work possible.
Without you, we would never have become Haiti’s leading
microfinance institution, able to provide both financial and
non-financial services to Haiti’s rural poor. Because of you, women
living in extreme poverty are able to provide for their families,
and small business owners are able to grow their businesses and
provide products and employment in their communities.
We would also like to acknowledge those supporters who get
involved with Fonkoze in other diverse and creative ways. For
some, monetary support is not possible; others find greater connection to Fonkoze’s work through alternative channels of giving.
Whatever the motivations and means, Fonkoze’s staff and
clients send a heartfelt mesi anpil (thank you very much).
Melurese Alouidor, a Solidarity client, displays ripe plum tomatoes
in her marketplace.
3
2014 Donors and Investors*
$100,000 or more
Anonymous
Artists for Haiti
Matthew T. and Margaret D.
Balitsaris
Haitian Timoun Foundation
The International Vincentian
Family
Plan Haiti
Vista Hermosa Foundation
W.K. Kellogg Foundation
Whole Planet Foundation
$50,000 - $99,999
Anonymous
Becker Family Foundation,
Gary and Mary Becker
Gruber Family Foundation
Jill and Stephen M. McDonnell
Pan American Development
Foundation
$25,000-$49,999
The Clinton Foundation
Get In Shape for Women
Global Partnerships
International Development and
Relief Foundation
Elizabeth R. and J.
Maxwell Moran
20
Swiss Agency for Development
and Cooperation
Vitamin Angels
TechnoServe
The Unilever Foundation
through PSI
$10,000-$24,999
$5,000-$9,999
Christina and Charles Bascom
Concern Worldwide
Cynthia Estrada Charity Fund
Elizabeth L. Daniels
Daniels Family Foundation
George and Peggy Anne
Dicaprio
David and Carrie Dortch
Bernice Galbreath
Inter-American Development
Bank and Inter-American
Investment Corporation
Mary Catherine Kilday and
George W. Malzone Foundation
Linked Foundation
Raskob Foundation
Roger and Susan Stone
Roger and Susan Stone Family
Foundation
SC Ministry Foundation
Schlegel Villages
The Seabury Foundation, Bliss
Holloway and Julia Susman
SG Foundation
A.H. Gage Private Foundation
The Allemall Foundation, Inc.
American Endowment
Foundation
Andrew Grene Foundation
John L. Augustine and
Christopher Durang
Paul C. and Sachiko S. Berry
Mary Boutselis
Dawn S. and Marshall Bowen
Daniel F. Capshaw and Linnea
M. Nilsen Capshaw
Charities Aid Foundation of
America
Elizabeth and Joseph Bascom
Charitable Foundation
Kathleen M. Gross
Bishop Thomas Gumbleton
Clarence and Bernadette
Kellerman
Marguerite and Stan Lathan
Dave and Debbie Leininger
Brian and Diana Lovett
Elizabeth Lowell
FONKOZE FAMILY 2014 ANNUAL REPORT
Laura K. and Marc W. McKenna
Katarina Mesarovich
Evelyn B. Newell
Jean-Guy Noel
Kimberly and Tobey Oxholm
Charles Petty
The Petty Family Fund,
Mark E. and Peyton Petty
Pam and Mark Semmler
David Weinreich and Shoshanna
Sumka
Theodore A. Von Der Ahe, Jr.
Trust
Leslie Thurman
The Upstream Foundation
Barbara S. Webster
The Weiss Fagen Fund
$2,500-$4,999
All Souls Unitarian Church
Village Banking, Tulsa, OK
Elizabeth B. Allen
Anonymous
Blessed Sacrament Parish,
Midland, MI
John W. Bloom
Lorraine Brignall
The Catholic Worker
Lorilyn S. and John J. Coleman
Brian Cook
Dolores A. and Lynn Drayton
Claudine and Bernard Dussert
Ray Escoffier
ESPOIR Haitian-American
Organization, Inc
Paul and Kathleen C. Fuhs
Lise and Raymond Giraud
Jean and William Graustein
Daniel and Kitty Gustafson
Melanie and Robert Howard
Joanne & Al Daloisio Family
Foundation
Bonnie S. Jones
David T. and Kelli W. Jones
Jones Family Charitable
Foundation
Amalie M. Kass
Kunkel Family Foundation of
the Ayco Charitable Foundation
Rebecca and James Langer
Mary Mother of Peace M. C., Inc
Newman Catholic Center
Elaine L. Pero
Donald B. and Carol L. Post
The Ray & Ellyn Stevenson
Fund of the Martin County
Community Foundation
Mary J. and Ken Sawers
Josie Sentner
Dick and Penny Stevens
Riverside Presbyterian Church of
Jacksonville, FL
UAW-GM Center for Human
Resources
Joel B. Wittenberg and
Mary Ann Ek
$1,000-$2,499
Rebecca W. Adams
All Saints Church, Pasadena, CA
Anonymous
Sarah Barnhard
Roz Becker
Elaine M. Bellin
The Benevity Community
Impact Fund
M. Judith Billings
Father Douglas C. Brougher
Arden R. Brugger
Isabelle Camille
Christ United Methodist Church,
East Moline, IL
Alexander and Emily Counts
Alice T. Davison and Howard
Tomb
Margaret Demeré
Joan C. and Harold L. Denkler
Ways to get involved:
Zanmi Fonkoze
F
onkoze’s champions live all over the
world. In the United States, some of
our most devoted supporters have
organized themselves into groups of
Zanmi Fonkoze (Friends of Fonkoze).
These groups do a wonderful job of
Magguy Desamours, a Solidarity Client, harvests guava.
extending the outreach efforts of Fonkoze
USA. As a means of engaging their local
communities, they hold events, such as dinner gatherings, races, fundraisers, film viewings, and speaker series.
They also reach out to prospective local donors to inform them about Fonkoze’s work. For a complete list of existing
Zanmi Fonkoze groups, see page 24. For more information on joining or starting a Zanmi Fonkoze group, please
visit http://www.fonkoze.org/zanmi-fonkoze/.
Francoise E. Denis
Barbara Enger and Gerald
Cocchiaro
Bernadette C. Ethridge
Therese Feng
B. Jean Fort
Debley Foundation
Margaret Fourré and Larry L.
Anderson
Elizabeth and Fred Frick
Marie Fredrick
GE Foundation - Matching Gifts
Gladwyne Presbyterian Church,
Gladwyne, PA
Allan I. and Joyce C. Goldberg
Sister Eleanor Guerin, RSM
James J. and Kathleen
Gumbleton
David Harms
Ida Hawkins
Hope for Haiti
If/When
Irving & Constance Phillips
Charitable Fund
Janusz Korczak Memorial Fund
of the Vermont Community
Foundation
Serge and Rosa Jean
Norma Joiner
Robert O. Johnston
Ann Marie and John Judson
JSEA Inc.
The Kealy Family Foundation
John C. and Elizabeth M. Keller
Kenneth A. Kind
Kurtz Family Fund
The Lang Foundation
Suzanne Lerner
Theresa K. Lundstrom
Jessica and Paul Lusty
Noreen A. Lyne
Margaret R. Rosenkrands Trust
Mary Macgregor
Sheila MCalinden
Tom and Ingrid McDonald
Paul F. and Christine McGuire
Daniel Hardie and Alice
McMahon
John and Gloria McManus
C. Wayne Middleton
Nick and Sylvia Miller
Ronald E. Modras
Daniel and Kathie Molter
Joseph Murphy
Nativity of Our Lord Church,
Detroit, MI
Linda Neuenschwander
Reverend Elizabeth M. Nestor,
M.D.
Elizabeth and William E. Oliver
Patrick Ophuls
Robert J. Osborn, Jr.
Barbara Ostrowski and Mary A.
Novascone
The Paul and Edith Babson
Foundation
Hilary J. Peattie
Pfizer Foundation Matching
Gifts Program
Patricia A. Pierce
Lisa C. Reed
Daniel R. Robinson and Cathy
M. Collie
Santa Barbara Foundation
Joseph Schillmoeller and
Pauline M. Feltner
Eve Schmitz
Marsha Siegel
Sisters, Servants of the
Immaculate Heart of Mary,
Monroe, MI
St Aloysius Church, New
Canaan, CT
St. Ignatius Catholic
Community, Grosse Pointe
Woods, MI
St. Thomas Aquinas Church,
Freeport, IL
Trina Sleper
Rosemary C. Smith
Laura Stephens
Craig Stewart
Robin and Joseph Stocks
Janet Stokley
Jane E. Thompson
The Waldman Family Charitable
Trust
The Weatherlow Foundation
Trinity Church, Santa Barbara,
CA
Urban Ministries Inc
Joan Vermeulen
Victory Apostolic Church,
Matteson, IL
Brian J. and Jennifer A.
Vosburgh
Neil and Mary Patricia Walsh
Beth M. Wescott
Christina White
Kathleen and Shawn White
C. Jeffrey Wright
Laura Roberts Wright
America M. and David H. Young
Mary N. Young
$500-$999
Luanne Alexis
Carole Lewis Anderson
Roger Angell
Anonymous
Barbara Appel
Ashton and Royann Avegno
Julia P. Bailey
Leslie and Gary Barbour
Sheila Bauer
Reverend Joseph F. Beckman
Shirley M. Birkholz
Maureen Boland
L. Michael Braig
Ann L. Breeden and Edna
Johnston
Christine S. Breu
Barbara Brockhurst and Robert
Lavoie
Adam Brooks
Charles Brown III
Deborah Brown
Msgr. Franklyn Casale
Michelle Charles
Lenore Collins
Community of The Sisters of
Saint Anne, Marlborough, MA
Elizabeth Cox
Curious Iguana
Keila DePoorter
W. Lee Dickson and James R.
Graham
I. Sharon Dobson
Lisa Dugger
Nancy Eichelman and John
B. Handy
Lucy Elliot
William and Anne C. Ewing
Robert G. and Antonia B. Fasick
First United Methodist Church
of Germantown, PA
Flagstar Bank
Alex Fleig and Anna Lord
Stephen D. and Mary Ford
Scott Foster
William D. and Patricia S. Friel
Ann Frotscher
Pamela and Michael Fuhrig
Mary George
Gabriel Goffman
Cindy M. Golbert
The Good Shepherd Fund
Google Inc Corporate and
Private Donations
Charles Gravitz and John Borstel
Ralph S. Greco
FONKOZE FAMILY 2014 ANNUAL REPORT
21
Donors and Investors
Ways to get involved:
Insight Trips
T
wice a year, Fonkoze USA leads Insight
Trips—groups of delegates who apply
to travel to Haiti with Fonkoze staff.
Delegations range from 10–15 people and are
made up of individuals whose backgrounds,
ages, and interest in Fonkoze vary greatly.
Lisa Collis, an Insight Trip participant, learns some hairdressing skills.
Trips typically last four days, during which
delegates learn about Fonkoze and Haiti’s rural
economy; meet with Fonkoze clients and staff; experience Haitian cuisine, art, and dance; and visit cultural and historic
sites. Fonkoze staff lead the trip and manage all logistics so that delegates can maximize their learning and enjoyment of
their visit to Haiti. For more information on upcoming Insight Trips, please visit http://www.fonkoze.org/get-involved/
visit-haiti/.
2014 Donors and Investors*
James P. and Betty Hanigan
Deborah Harrington
Gertrude E. Harris
Edward S. Herman
Elliot Hernandez
John Hirschi
Bob Hsu and Bonnie Chang
Huntley and Wasyliko Family
Fund
Karen and Abhinandan Jain
Kathryn Erickson and Albie
P. Jarvis
Jinpa Foundation
Edna Johnston and Ann L.
Breeden
Dale J. and Kay M. Kempf
Ari Lipman
Emily A. Lippert
Dr. Mildred J. Little
Ann S. Lowell
Kay Marcus
Marie and John Foley Fund
Susan Martel
Paul J. McCarthy and Orla C.
O’Callaghan
John H. McConnell
Alice McMahon and Daniel
Hardie
22
Catherine E. McMahon and
Statton Rice
Sharon Meehan and Christopher
Bergey
Mennonite Foundation
Virginia Merritt
Carol and David Miller
Frances and Steve Miller
Suzanne Miller
Andrew Newman
L. Glenn and Cecilia O’Kray
Woody Peterson
P. Martine Pierre-Louis
Louis and Ramona Prezeau
Victoria Rader
Cecilia R. Regan
Dr. Ernie Rose
Nina A. Saffari
Jane H. and Ronald E. Saunier
Alvin Schexnaildre and Lucy
Cooper-Schexnaildre
Barbara Shoulders
Harold R. Sikorski
Barbara D. Smith
Hope and John C. Smith
Sowers of Justice
Donald Spoto
Martha S. Sproule
FONKOZE FAMILY 2014 ANNUAL REPORT
St. John of Kronstadt Press
St. Matthew Roman Catholic,
Tolland, CT
Suzanne Stearn
John K. Steinmeyer
Stacy J. Stevens
Angela and Daniel Stoltzfus
Julie A. and Padraic J. Sweeny
Phyllis and Richard Taylor
Richard and Carol Urban
Richard and Elizabeth Vanden
Heuvel
Anneke Wambaugh
Sue and Lew Werlin
Visitation North Spirituality
Center Sisters, IHM
Shaaron M. Warne and William
J. Mueller
Irlene Whiteman
Michael E. and Sharon F.
Williams
Frances K. Wu and Wilburn
Chesser
$250-$499
Delores and Mervin Antoine
Laurie C. Aubuchon
Joseph F. Augustin
Jacqueline and Clarence Avant
Phil and Grace Bahng
Rebecca and Marcus Balitsaris
Mary T. and John N.
Bartholomew
Catherine A. Beal
Marvin L. and Judith Bellin
Kathleen Berrigan
Jane E. Beuttel
Larry S. and Barbara W. Beyna
Lisa Bluntschli
Carol W. and John R. Bodary
Kathryn Boockvar and Jordan
B. Yeager
Margaret and Lawrence
Bowerman
Dr. Stephen D. Brown and Ms.
Linda B. Brown
Bruce Ford Brown Charitable
Trust
Called to Serve
Capital Group Companies
Charitable Foundation
Elizabeth C. and David W.
Champney
Leo Chausse
Christ the Redeemer Church,
Lake Orion, MI
Carnzu A. Clark
Andrew L. Clarke
Jayne Cohen
Donna G. Cole-Brulé
Lauren V. Compere
Robert and Elizabeth Coombs
Joseph R. Cooney and L. Marie
Guillory
Jacqueline Cordry
James B. and Laura W. Crooks
Angela Dawn and Donald J.
George
Lena Deevy
Mary E. Didier
Estelle Disch
Jake D. Donaldson
Don & Jan A. and Janice
Downing
Paula Ebbitt
James D. and Dawn A. Engel
Judith Favor
Madeleine Féquière
Jack and Jackie Ferrari
Nancy L. and Keith J. Forster
Forster 2000 Family Trust
Ann Frotscher
Lynn Garfunkel
Palmer P. Garson
Celestia G. Gaudreault
Peter E. Gavin
George A. Gowen and Anita Von
Wellsheim Gowen
Arlene D. and Leo J. Grady
Jean E. and John C.
Grant-Dooley
Corwin Greenberg and Parvati
Maggie Grais
Michelle and Mark A. Guilfoil
Judith and Robert Hadley
Unae Han
James E. Hanigan
Thomas A. and Dorothy P.
Harbold
Fritz D. and Lorette A.
Harnsberger
Carla and Troy Harris
Ina Haugen
Ann M. and Edward J. Hawkes
Eric and Kristen Headrick
Joan G. and Joseph E. Heckel
Heidelberg United Church of
Christ, Schwenksville, PA
Suzanne and Richard P. Heron
Highlands Presbyterian Church,
Columbus, OH
William H. and Peggy L. Hoff
Lee and Paula Hougen
Robin S. and Michael Hoy
Pemberton Hutchinson
Ways to get involved:
Partnerships
F
onkoze has partnerships with religious establishments, corporations, and other institutions. While
Fonkoze does not have a religious affiliation,
congregational partnerships provide an outlet for philanthropic activities at places of worship. Corporations
support Fonkoze through investments, grants, in-kind
donations, employee giving, and other mechanisms.
Many of these partners end up traveling to Haiti to
meet Fonkoze staff and clients, reporting back to their
communities and colleagues on their experience.
Solidarity clients share a smile together.
Ofer Inbar
Jan Jalenak and John R. Ordway
Rita Jaros
Abner Jean-Pierre
Jefferies Group, LLC
KT and Sandy Johnson
Michael Karlin
David Karpick
Karen Kaufman
Georgia L. and William R.
Keeran
Edward Kinane and Ann Tiffany
Maureen Knowles
Nic Korte
Emily Kunreuther
Debra Kutok
Priscilla Labovitz
Geri Lanham
Iole and Earl Le Tissier
Bruce Leaman
Darrell Levi
Robin Lloyd
Margaret Maccini
Norman I. and Mary Anne
Maldonado Simon
Lani Manseau
Marilyn & Mike Grossman
Foundation
Peter Mayer
Peter Mayock
Anne C. and Brian McElroy
Mcgeer Family Foundation
Laura E. McLaughlin
Marcia H. McLaughlin
Eli Merritt
Raine Micale and Christophe
Remy de Campeau
Reginald Mombrun
Audra Murray
Khamisi Mwaniki
Stephen Myers
Montessori De Terra Linda
Carol A. Nash
Karen Nicolas
Lorelei O’Hagan
Frederick Otto
Perfecta and Geoff Oxholm
Parish of the Holy Spirit, Virginia
Beach, VA
Toni Parr
Carolyn L. and William C.
Patterson
Andrea Paulson
Catherine Paupst
David and Joy Peyton
Ethlene Pollak
The Powell Family Charitable
Trust
Stephanie L. Quade
Richard S. and Lois Gunther
Fund
Susan Risberg
Whitney R. Robinson and Louie
Rivers III
William A. Rose, Jr.
Gary M. and Toby L. Rosen
Jon and Whitney Rush
Lisa Russell
Kristin Sagert
St. Bernadette Parish, Severn,
MD
Janet Sanderson
David Sarr
Mary Schmidt
Susan M. and Charles P. Scholer
Dr. B. Otto Sharp
Gladys E. Shaw
Jean-Emmanuel Shein and
Christiane Janssen
Martha A. and Barry Siegel
Nicholas Signore
Deborah Simons
Sisters of the Divine Savior,
Milwaukee, WI
Harvey W. Slager
Mary Jane Smith
Sherene and DaAnne Smith
Philip L. and Carol Stein
Timothy Suttle
Jerome T. and Jeannette K.
Sydlowski
Therese Tangredi
Agnes Thaler
Connie Turner
Utopia Foundation
Ann Vehlies
Arturo and Patricia Villarruel
Carol Waters
Marlene Wellington and
Anthony Glaser
Kayla Werlin
George A. Whitley
Elizabeth and Warren J.
Widmayer
Sharon Vegh Williams
Wendy Wright and Roger
Bergman
Beatrice Young
Lawrence T. Young
Steve and Lois Zentner
H. Berrien Zettler
Investors
Adorers of the Blood of Christ,
St. Louis, MO
Adrian Dominican Sisters,
Adrian, MI
Alternative Gifts International
Alternative Insurance Company
Matt & Margaret Balitsaris
Baltimore Ethical Society, MD
James Barry
Paul Beach
Gary & Mary Becker
Beyond Borders
Bon Secours Health System
Rebecca Brune
Global Partnerships
Gloria Callaci and Lawrence J.
Suffredin Jr.
Catholic Health Initiatives
Timothy Cimino
City National Bank Shares
Carroll and Joseph Clay
Congregation of the Sisters of
Charity of the Incarnate Word,
Houston, TX
The Congregation of the Sisters,
Servants of the Immaculate
Heart of Mary, Scranton, PA
Charles Conlon
Robert Crauder
Leatrice Crivello
Larry Dansinger & Karen
Marysdaughter
Digicel Haiti International
Finance Limited
Barbara DiTommaso
The Domestic and Foreign
Missionary Society of the
Protestant Episcopal Church in
the United States of America
Dominican Sisters of Hope,
Ossining, NY
Dominican Sisters of
Springfield, IL
David W. Dortch
Douglas Wingeier Trust
Robert W. Dulaney
Rosemary Edwards
Thomas Ellis
Ethical Action Committee of
St Louis
Judith Favor
Finian Taylor Revocable Living
Trust
Fitzpatrick Family Foundation
Fonkoze Employee Trust
Fonkoze Foundation
Fonkoze USA
FONKOZE FAMILY 2014 ANNUAL REPORT
23
Donors and Investors
Celebrating Twenty Years:
Looking Ahead
F
onkoze is making an ever-increasing
contribution to Haiti’s economic
development. This contribution is
bolstered by the strong financial standing
of Sèvis Finansye Fonkoze, S.A.; by the
nimble responsiveness of Fondasyon
Kole Zepòl to clients’ needs; and by the
expanding base of support channeled
through Fonkoze USA. With the successes
of 2014, we continue to position ourselves
to build Haiti’s future.
Sinfora Pierre, a CLM client, stands in front of her original wall-less, rusty-roofed house and
next to the house she constructed with support from the CLM program.
2014 Donors and Investors*
Francis of Assisi Microlending LLC
Peter Gebhardt-Seele
Grameen Foundation
Grey Nuns of the Sacred Heart,
Yardley, PA
Haiti Solidarity of the Northeast
Haitian Microfinance, Inc.
Anne Hastings
Robin and Michael Hoy
Chantal Hudicourt
IIC
Idyll/Untours Foundation
Dr. Henry Kaminer
Michael Komba
Constance Lesold
Loretto Literary & Benevolent
Institution
Christine Low
Kimberly McCormick
John & Christine McKay
Mary Elizabeth Meehan
MEDA
Mercy Partnership Fund
Susan Metz
Michigan Committee for a
Democratic Haiti
Mid-Atlantic Regional Christian
Life Community
24
Patricia Miller
Fred Montas
Nazareth Literary and
Benevolent Institution
Jane N. Newton
Oikocredit
Our Lady of Victory Missionary
Sisters
Joseph & Mary Palen
Parish of St. Augustine,
Brooklyn, NY
Peace and Justice Book Club
Joseph Philippe
John R. Poole
Louis Prezeau
Jean and Vance Reese
Religious Communities
Investment Fund, Inc.
Merilie Robertson
Joseph Rund
Sacred Heart Monastery
St. Bridget Church
Manchester, CT
St. Martin de Porres Catholic
Worker House, Harrisburg, PA
Ed Schmidt
School Sisters of Notre Dame,
St. Louis, MO
Julian and Ruth Schroeder
FONKOZE FAMILY 2014 ANNUAL REPORT
Josie Sentner
Seton Enablement Fund
Sisters of the Blessed
Sacrament, Bensalem, PA
Sisters of Charity of New
York - Bronx
Sisters of Charity of Saint
Elizabeth, Convent Station, NJ
Sisters of the Holy Cross, 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 Notre Dame of
Toledo, OH
Sisters of St. Dominic,
Racine, WI
Sisters of St. Francis of
Philadelphia, PA
Sisters of St. Joseph of
Carondelet, St. Paul, MN
Sisters of St. Joseph of
Carondelet, St. Louis, MO
Sisters, Servants of the
Immaculate Heart of Mary,
Monroe, MI
Sharmi Sobhan
Society of the Holy Child Jesus,
Rosemont, PA
Doug Thompson
Rev. J. Michelle Tooley
Tulsa Community Foundation
Untours Foundation
Ursuline Sisters of Tildonk,
Jamaica, NY
Barbara Webster
William G. Wegener
Whole Planet Foundation
Zanmi Fonkoze
Zanmi Fonkoze Jacksonville, FL
Zanmi Fonkoze New York, NY
Zanmi Fonkoze Philadelphia, PA
Zanmi Fonkoze Richmond, VA
Zanmi Fonkoze
Santa Barbara, CA
Zanmi Fonkoze Washington, DC
In-Kind Donors
and Volunteers
Akin Gump Strauss Hauer &
Feld LLP
Dickstein Shapiro LLP
Colette Pollitt, P.C.
Real Estate Counselors, PLLC
Vitamin Angels
Endowments and
Memorials
The Jerry and Anna Bedford
Endowment Fund
H. Fred Clark Memorial Fund
Bob and Marie Fehribach
Memorial Fund
Raymond and Lise Giraud
Memorial Fund
Shoulder-toShoulder Legacy
Society
Anonymous
Jerry and Anna Bedford
Leigh Carter and Andrew
Schuman
Alexander and Emily Counts
Margaret Demeré
Barbara DiTommaso
James and Betty Hanigan
Anne H. Hastings
Brian and Diana Lovett
Joe and Mary Palen
Peg Rosenkrands
* The Fonkoze Family makes every
effort to acknowledge all donors
and expresses their regrets for any
donor who is not listed. If you see
that your name was excluded in
error, please contact Fonkoze USA
at 202.628.9033.
2014 Fonkoze Leadership
ENDNOTES
Fonkoze Family Senior Staff
Honorary Board of Directors of Fonkoze USA
1
SÈVIS FINANSYE FONKOZE, S.A.
Matthew Brown, Chief Executive Officer
Dominique Boyer, Chief Operating Officer
Francis Ollivier, Chief Information Officer
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
“Most of the 12 lowest-priced
generic medications were sold
at higher prices in Haiti as
compared to Nicaragua, Mexico,
Colombia, and Bolivia. On average
these medications were sold in
Haiti at 10 times the international
reference price.” Chahal HS,
et al. Journal of Global Health,
December 2013.
2
For more information on the
Graduation Model, see http://
www.cgap.org/topics/graduation-sustainable-livelihoods.
3
Fonkoze USA has no role with
respect to any offering by SFF
and will not receive any proceeds
therefrom. Accordingly, Fonkoze
USA takes no responsibility for
the accuracy or adequacy of any
disclosure or other materials
delivered in connection with any
offering by SFF.
FONDASYON KOLE ZEPÒL
Carine Roenen, Executive Director
FONKOZE USA
Leigh Carter, Executive Director
Fonkoze S.A. Board of Directors
Father Joseph B. Philippe, CSSp, President
Brian Kearney-Grieve, Vice-President
Julian Schroeder, Secretary/Treasurer
Anne H. Hastings
Chantal Hudicourt Ewald
Daniel Robinson
Sèvis Finansye Fonkoze, S.A.
Board of Directors
Father Joseph B. Philippe, CSSp, General Coordinator
Ben Simmes, Vice-President
Mary Joe Sentner, Secretary/Treasurer
Damian Blackburn
Daniel Godefroy
Anne H. Hastings
Brian Kearney-Grieve
Daniel Robinson
Fondasyon Kole Zepòl Board of Directors
Father Joseph B. Philippe, CSSp, General Coordinator
Dominique Boyer
Guerda Eustache
Thony Fleury
Alexandre Hector
Frednel Isma
Yodeline Mérelus
Guy Paraison
Marie Deleure Jean Plaisival
Herold Rodrigue
Obény Rose
Lunese Valcy
Fonkoze USA Board of Directors
Matt Balitsaris, Chair
Therese Feng, Vice Chair and Treasurer
Daniel Robinson, Secretary
Claude Alexandre
Leigh Carter
Alex Counts
Beth Daniels
Madeleine Féquière
Margaret (Peg) Fourré
Marguerite Lathan
Jean Guy Noel
Father Joseph B. Philippe, CSSp
Leslie Thurman
Laura Wright
David Garfunkel, Board Fellow
Charlie Petty, Board Fellow
Meera Sawkar, Board Fellow
Fonkoze Family Coordinating Committee
REPRESENTING FONDASYON KOLE ZEPÒL
Marie Deleure Jean Plaisival
Dr. Florence Jean-Louis
REPRESENTING FONKOZE S.A., AND SÈVIS FINANSYE
FONKOZE, S.A.
Julian Schroeder, Co-chair
Mary Joe Sentner
Ben Simmes
REPRESENTING FONKOZE USA
Alex Counts, Co-Chair
Laura Wright
Matt Balitsaris
Credits
EDITORIAL TEAM
Ana Adamson
Linda Boucard
Matthew Brown
Leigh Carter
Therese Feng
Peg Fourré
Charles Gravitz
Brian Kearney-Grieve
Lyla Leigh
Natalie Parke
Nikelson Pierre-Louis
Carine Roenen
Steven Werlin
Marta VanderStarre
DESIGN
Brad Latham
PHOTOGRAPHY
All photos not otherwise credited in the report were
taken by Darcy Kiefel.
www.kiefelphotography.com
PRINTED BY:
Petree Press, a Division of Worth Higgins
& Associates, Inc.
Special Thanks
The leadership expresses deep gratitude for
the 800+ dedicated staff members working
throughout Haiti.
FONKOZE FAMILY 2014 ANNUAL REPORT
25
SÈVIS FINANSYE FONKOZE, S.A.
119 Avenue Christophe
Port-au-Prince, Haiti
505 (from Haiti)
1.800.293.0308 (from US)
FONDASYON KOLE ZEPÒL
119 Avenue Christophe
Port-au-Prince, Haiti
505 (from Haiti)
1.800.293.0308 (from US)
FONKOZE USA
1718 Connecticut Avenue NW, Suite 201
Washington, DC 20009
202.628.9033
www.fonkoze.org
Fonkoze USA holds Charity Navigator’s
top four-star rating for exceeding
industry standards and outperforming
most charities in its cause.
GuideStar recognizes Fonkoze USA
as a Valued Partner.
Fonkoze USA participates in the
Combined Federal Campaign.
The Better Business Bureau
recognizes Fonkoze USA as an
Accredited Charity.