2018 FINCA INTERNATIONAL ANNUAL REPORT

Growing Our IMPACT 2018 FINCA INTERNATIONAL ANNUAL REPORT

Letter from the Chairman and the President and CEO...... 1

Our Reach in 2018...... 2

Programs...... 4

Microfinance...... 4

BrightLife...... 6

FINCA Ventures...... 8

Research...... 10

Founder’s Update...... 12

Supporter Spotlight...... 13 2018 FINCA International Financial Summary...... 14

FINCA’s Leadership...... 16

FINCA’s Partners...... 17

FINCA’s Supporters...... 18

Copyright 2019 FINCA International, Inc. Photos (cover and inside cover): Alison Wright

B 2018 FINCA INTERNATIONAL ANNUAL REPORT GROWING OUR IMPACT

LETTER FROM THE CHAIRMAN AND THE PRESIDENT AND CEO

Dear Supporters, fintech start-ups grow their companies to extend financial inclusion. Through all of it, we measured the Any business, no matter the size, is focused on outcomes of our work through rigorous research to growth. From a FINCA client selling flour to her ensure we are positively impacting people’s lives. neighbors in the Guatemalan Highlands, to a FINCA Ventures partner company deploying digital It was undoubtedly a year of growing our impact, education services to hundreds of thousands of and to you—our loyal contributors and supporters— students in East Africa, each is looking to take the we owe an unending chorus of thanks. business to the next level. At FINCA International (“FINCA”), the continuous push for responsible, impactful growth is no exception.

More importantly, however, are the motivations that drive us. A mother grinds corn into flour to generate Robert W. Hatch Rupert W. Scofield income so she may feed and educate her children. A Chairman President and CEO social entrepreneur finds an innovative way for school children to access learning materials using mobile June 30, 2019 phones to better prepare African youth to enter the job market. And our organization, buoyed by your support, seeks to alleviate poverty through lasting solutions that help people build assets, create jobs and raise their standard of living. “Through all of it, we measured the outcomes of our work through In 2018, microfinance operations grew, as did our FINCA Plus initiatives, where we seek to partner with rigorous research to ensure we are social enterprises delivering solutions in energy, water positively impacting people’s lives.” and sanitation, education, health and agriculture. Microfinance outreach climbed to 2.3 million clients, owing in part to financial technology (“fintech”) innovations that made financial services more accessible and convenient than ever before. In FINCA Plus, our social enterprise, BrightLife, unlocked access to clean energy and financial services in Uganda, surpassing 100,000 lives impacted. FINCA Ventures expanded its partner companies from two to six, impacting a combined 2 million people around the world. Finally, we launched a third endeavor, called FINCA Forward, to test fintech innovations across the Robert W. Hatch, Rupert W. Scofield, microfinance network, and, if successful, to help these Chairman President and CEO

GROWING OUR IMPACT 1 FINCA WORLDWIDE

OUR REACH IN 2018

MICROFINANCE

2,317,779 Total clients (+12% growth vs. 2017)

$406.7 million Total voluntary savings (+13% growth vs. 2017)

$1.1 billion FINCA Canada Total loans disbursed FINCA International & FINCA Impact Finance Global Headquarters

SOCIAL ENTERPRISE Haiti

Honduras FINCA Ventures Guatemala Nicaragua Senegal 2,022,059 lives impacted by 6 Gambia portfolio companies in 29 countries Sierra Leone Ecuador Liberia Côte d’Ivoire BrightLife Democratic Surpassed milestone of 100,000 lives Republic improved with life-enhancing clean of the Congo energy products

RESEARCH

22 studies conducted in 17 countries surveying 21,678 clients, resulting in 784,260 customer data points for evaluating our impact*

2 2018 FINCA INTERNATIONAL ANNUAL REPORT *Includes all internal and external surveys conducted by FINCA’s research team. FINCA International programs and investments impacted lives in 42 countries around the world in 2018. FINCA International is the founder and majority shareholder of FINCA Impact Finance, a global network of community-based microfinance institutions and banks that operate across 20 countries in Africa, Eurasia, Latin America, the Middle East and South Asia. FINCA Ventures, the impact investing arm of FINCA International, supports portfolio companies that deliver life-enhancing products and services in seven of these same geographies plus 22 additional countries.

FINCA UK

Kosovo Georgia Azerbaijan FINCA International & Kyrgyzstan FINCA Impact Finance Tajikistan Global Headquarters Armenia Afghanistan Mali Burkina Niger Pakistan Faso Jordan Nigeria Somalia Philippines Cameroon Myanmar Rwanda Ethiopia Kenya Uganda Benin Ghana Tanzania Democratic Republic Malawi of the Congo Zambia Madagascar Namibia

Mozambique Botswana Zimbabwe

FINCA Impact Finance subsidiaries FINCA Ventures portfolio operations Both

GROWING OUR IMPACT 3 MICROFINANCE

The pace of global innovation TRANSFORMING is accelerating. Microfinance is transitioning from a high-touch, ACCESS TO FINANCE high-cost model to a “touch-tech” approach. This involves maintaining IN UNDERSERVED personal touch and trust with clients MARKETS while adopting fintech.

Cost savings and convenience of digital banking solutions can clearly benefit women and the poor. At the same time, complementary efforts are needed to ensure those most in need are connected, engaged and actively benefitting from the latest innovations. Gender-responsive products and delivery channels, coupled with new technologies, are critical to leveling the playing field in financial inclusion.

Opening a Women-Only Bank Branch in Afghanistan

More than a third of Afghans live in poverty and FINCA Afghanistan’s financial products, 85 percent of adults are financially excluded. including small enterprise and agricultural loans, Afghan women are especially vulnerable due to as well as Sharia-compliant loans for Islamic marginalization, weak economic participation and clients. Beyond access to financial services, discrimination. Just 7 percent of women have a this women-only branch serves as a space for financial account and only 19 percent are employed. women to share experiences, knowledge and To address this, FINCA Afghanistan opened a entrepreneurship opportunities. It gives Afghan women-only bank branch in the first half of 2018. women the freedom to express their views and ask questions, opportunities that are often This unique offering exclusively serves women restricted in public spaces. At the end of 2018, clients and is staffed by an all-female team of 60 percent of FINCA Afghanistan borrowers financial professionals. It offers the full range of were women.

60% of FINCA Afghanistan borrowers are women.

4 2018 FINCA INTERNATIONAL ANNUAL REPORT Photo: FINCA Staff Going Digital with Village Banking™ in Guatemala

FINCA’s founder, John Hatch, pioneered Village Banking™ in 1984. His idea empowered microentrepreneurs to become engines of development in their communities. While effective in rural areas, Village Banking™ can face challenges in rapidly urbanizing centers, like Guatemala City, where low-income clients, such as Engracia Rivera Campos, may worry about their safety travelling to group meetings. In response, FINCA Guatemala turned to the world’s most popular messaging platform—WhatsApp. “Being a woman in Mobile phone penetration rates in Guatemala are Guatemala is challenging, among the highest in the world. WhatsApp presented but with the opportunity of a way to continue Village Bank group meetings without requiring clients to leave the safety of their homes. a loan from FINCA I have FINCA Guatemala organized the WhatsApp group been able to work and give meeting space, signed members up and assigned a loan officer to moderate group discussion. The team opportunities to others.” used the experience to script a template for subsequent virtual meetings. Village Bank meetings conducted via WhatsApp were rolled out across six branches around Guatemala City.

Putting Technology to Work for the Poor

Fintech innovations offer new and exciting ways to improve access to the financial services proven to reduce poverty, hunger and gender inequality. Examples include data analysis solutions that improve credit scoring for the unbanked, and digital delivery channels, like mobile phones, that make banking more accessible and affordable.

To ensure these technologies are available to the poor, FINCA launched a new initiative in 2018, called FINCA Forward, funded by a grant from USAID, through the PACE Initiative and Feed the Future. Sitting at the cross-section of microfinance and social enterprise, FINCA Forward aims to achieve three things: help small and growing fintech enterprises test their financial service innovations with microfinance clients; enable community-based microfinance institutions and banks to more easily evaluate and onboard digital financial 1.7 billion services; and, expand access to innovative, affordable adults globally are unbanked, virtually and accessible financial services for the poor, especially all of whom live in developing countries. women, in Africa and Latin America.

Photos: top—Dawn Deeks; bottom—Alison Wright GROWING OUR IMPACT 5 BRIGHTLIFE

In 2018, FINCA’s BrightLife UNLOCKING ECONOMIC program surpassed 100,000 lives impacted in Uganda with PRODUCTIVITY AND life-enhancing clean energy products. This milestone, made WELLBEING THROUGH possible by generous donor support, comes just three CLEAN ENERGY years since BrightLife began operations in earnest.

BrightLife products include solar lanterns, solar home systems and improved cookstoves designed for Ugandans earning less than $4 a day. Customers may acquire the products using pay-as-you-go (PAYGo) financing, an affordable and convenient way to pay for goods over time using mobile phones. In doing so, BrightLife is reimagining what the next generation of rural households in Uganda and beyond may look like.

NextGen Rural Home

1 1 Solar panel

2 Indoor solar lights

3 Outdoor solar security lights

2 4 Solar light switches

3 5 PAYGo solar home controller with phone charger

6 Portable solar radio 4 5 7 Portable solar lantern with phone charger

7 8 8 Clean charcoal cookstove 9 6 9 Clean wood cookstove with phone charger

BrightLife unlocks economic productivity and wellbeing for poor and low-income families by building pathways to energy access and financial inclusion.

6 2018 FINCA INTERNATIONAL ANNUAL REPORT Expanding Energy Access with Digital Finance Innovations

Irene Ahebwa is a 26-year-old mother of three living in After speaking with the BrightLife sales agent, Irene rural Uganda. She used two loans from FINCA Uganda, discovered she could finance the cookstove over each a little more than $200, to purchase goods to run time using PAYGo on her mobile phone, making it a small produce stand. One afternoon, Irene paid a visit manageable for her family’s budget and convenient. to her local branch in Hoima district when she noticed Irene was so satisfied with her cookstove that she a display of BrightLife energy products. A shiny and acquired another one and a portable solar lantern, modern-looking cookstove caught her eye. also from BrightLife.

“When I learned that this cookstove had a light and could charge a phone, I thought, ‘Wow.’” 2.7 billion Until that day, Irene prepared her family’s meals people globally lack access to clean cooking, using a traditional charcoal stove. It was falling apart, resulting in household air pollution that slow at cooking and produced lots of smoke that kills 2.6 million people annually. made Irene cough and get headaches. It was also a safety hazard for her children who liked to play on the front stoop where Irene did her cooking.

This photo of Irene Ahebwa was selected as a winner in the 2018 CGAP Photo & Video Contest category of “Digital Finance and Development.”

Photo: Alison Wright GROWINGGROWING OUROUR IMPACTIMPACT 7 FINCA VENTURES

FINCA Ventures supports PARTNERING WITH early-stage companies addressing energy, sanitation, BOLD INNOVATORS education, health and agriculture challenges for TO IMPROVE LIVING poor and low-income families STANDARDS in sub-Saharan Africa.

By the end of 2018, FINCA Ventures had invested $965,000 in patient capital, tripling its list of partner companies and growing its impact on lives from the tens of thousands to the millions.

Company Description SDGs Supported

Designs solar-powered home energy systems and productive use appliances to help those living under $4 per day grow their wallets.

Designs and manufactures clean- burning, electricity-generating cookstoves and solar home systems for off-grid households.

Develops hardware-agnostic digital educational curriculums that work on basic feature phones, smartphones and tablets for K-12 students and beyond.

Partners with smallholder farmers to improve their productivity through soil-enriching legume farming and grow farmer incomes.

Sends hyper-local, highly accurate tropical weather forecasts to small- holder farmers via SMS to reduce risk and loss for better harvests.

Provides waste-to-energy sanitation services to local governments and refugee camps, turning fecal sludge into environmentally friendly fuel.

Partner Industries Countries Lives 6 Companies 4 Supported 29 Served 2+ million Impacted

8 2018 FINCA INTERNATIONAL ANNUAL REPORT Digitizing the Classroom So All Students Have a Chance to Succeed

Four years ago, Imelda Mumbi came home from Imelda went home that day and told her mom about school in a slum outside Nairobi, Kenya, and learned the new service and how it would help to improve from her mom, Jane, that the family was moving to her grades and, crucially, replace the need to purchase live with a relative in a distant village. Jane explained costly textbooks. Jane agreed to postpone the move that she could no longer afford to take care of to the village so that Imelda could give this new three children as a single parent in the city. Imelda service a shot. Buoyed by the chance for a fresh was devastated. start, Imelda began waking at 3 a.m. just to use the program for one hour before school. It wasn’t long before the program had done wonders for Imelda’s “I knew that if we moved to the village, grades, her self-confidence and the family’s budget. I would not have many opportunities in life. Most of the good schools and “It is the pillar of Imelda’s education,” said Jane. “It was difficult to afford schoolbooks, but this takes jobs are in the city.” the place of books and is more affordable.”

The next day, however, changed everything. Guests Such solutions to seemingly intractable social from Eneza Education paid a visit to Imelda’s school problems, like access to quality education, are to talk about a new e-learning service made possible made possible by private companies accessing by mobile phone technology. Eneza Education the support they need to grow and scale. FINCA is a social enterprise offering digital educational Ventures steps in to fill that need, focusing on curriculums for K-12 students and adults. The social enterprises developing goods that align company’s service is compatible with basic feature with FINCA’s charitable mission. phones, critical for reaching poor communities. Not only is it convenient, but it is also more affordable than traditional textbooks.

Photo: Alison Wright GROWING OUR IMPACT 9 RESEARCH

In April 2018, the World Bank released the CHANGING “Global Findex Database 2017,” a report that provides unique insight into the state LANDSCAPE of financial inclusion around the world. Financial tools, like loans and savings IN FINANCIAL accounts, strengthen the economic INCLUSION security of poor and low-income families.

Given this topic is central to FINCA’s mission, here are five takeaways from the report:

1. Signs of Progress Toward 2. Financial Exclusion 3. Persistent Gaps for Women Financial Inclusion Remains a Pressing Issue and the Poor Globally, financial inclusion is Around the world, 1.7 billion Fifty-six percent of the unbanked on the rise: 515 million adults adults remain financially population, or 980 million people, gained access to financial excluded, down from 2 billion are women, and the gender gap services since 2014. The share in 2014. Nearly a quarter of has barely changed since 2011. of adults with an account now the world’s unbanked people In the 20 countries where FINCA stands at 69 percent. Digital live in countries served by Impact Finance works, 75 percent financial services are a big part the FINCA Impact Finance of women lack access to an of the story, especially in sub- network. The gap is especially account, down from 79 percent Saharan Africa, where the share wide in Pakistan, Afghanistan three years ago. In the same of adults with a mobile money and the DR Congo, where countries, financial exclusion account has more than doubled, nearly four out of five adults affects 76 percent of the poorest currently standing at 21 percent. are financially excluded. people, an improvement of five percentage points from 2014.

4. Fewer Poor People 5. Digital Innovations are are Saving Helping but Not Displacing Less than half of adults on the Traditional Banking planet saved anything in the In most of the developing world, last year, falling from 56 to 48 usage of financial institution percent over the last three years. accounts dwarfs mobile money. In This includes bank deposits, sub-Saharan Africa, though, the total savings clubs, jewelry and cash share of mobile money customers stuffed in drawers. To improve is on par with those who have an the wellbeing of economically account at a financial institution. vulnerable people, savings However, three out of every four of access and usage should be these mobile money users are still on the rise. served by a financial institution.

To learn more about what the Global Findex tells us about mobile money, women’s financial inclusion and savings in vulnerable households, visit finca.org/insights/2017-findex-paper/.

10 2018 FINCA INTERNATIONAL ANNUAL REPORT Photo: FINCA Staff Achieving Better Results for Women in FINCA Kyrgyzstan

Financial inclusion in Kyrgyzstan is growing fast. Only 18 percent of adults had a bank account in 2014, but that number has more than doubled in the last three years. Kyrgyzstan is also one of the few places where the gender gap in financial services is small, at about 1 percent. FINCA Kyrgyzstan is doing its part to ensure women and the vulnerable do not fall behind: Over 55 percent of borrowers are female, and the vast majority of borrowers live in rural areas.

Data from a survey of FINCA Kyrgyzstan clients shows women-run businesses are generating higher profit margins compared with men’s. Healthy profit margins indicate strong business management and suggest female clients can accommodate loan repayments in their cash flow.

FINCA Kyrgyzstan Clients’ Profit Margins by Industry

33% Trade 25%

27% Production 42% Men Women 36% Agri-livestock 42% 43% Agri-mix 46%

50% Service 57%

56% Agri-crop 59%

Survey data also reveals women create more jobs with FINCA Kyrgyzstan loans, enabling them to hire more women and to achieve their business goals. Combined, these data support that women are not only prudent managers and disciplined borrowers, but also loyal clients and strong implementers of FINCA’s mission.

36% 26% 29% 25% 81% 70%

of all jobs are created of all impacted jobs of businesses achieved their with FINCA’s help are female jobs goals with FINCA’s help

To view the complete set of social performance indicators and measurements, visit results.finca.org.

GROWING OUR IMPACT 11 FOUNDER’S UPDATE

One common characteristic of the world’s LIFTING THE poorest families is that, after sunset, they live in darkness. They are forced to light POOREST FAMILIES a tiny kerosene wick lantern, which emits a toxic black smoke harmful to eyes and OUT OF DARKNESS lungs and is easily knocked over, resulting in burns and house fires.

Such lighting is especially dangerous for school In the project’s first nine months, Mwangaza children, who have no alternative for studying has benefited over 9,000 destitute families at night. Plus, kerosene fuel is tremendously representing approximately 63,000 individuals. expensive, consuming a disproportionate share I invite you to join me in donating to this effort of a poor family’s monthly expenditures. No one so that, together, we may help lift the poorest should have to live this way, especially when small, families out of darkness. portable and relatively affordable solar lanterns are being widely distributed by initiatives such as FINCA’s BrightLife.

After multiple trips circumnavigating Uganda by four-wheel drive vehicle, and countless John K. Hatch meetings with village saving and loaning groups Founder and families, I’m leading a new initiative with June 30, 2019 FINCA to help Uganda’s poorest families escape darkness. We call it the “Mwangaza Project,” taken “I’m leading a new initiative with from a Swahili word meaning “light,” and it aims FINCA to help Uganda’s poorest to put subsidized solar lanterns into households across the most remote regions of Uganda. families escape darkness.”

12 2018 FINCA INTERNATIONAL ANNUAL REPORT Photo: Christopher Musoke CONTRIBUTORS WHO SUPPORT OUR MISSION

SUPPORTER SPOTLIGHT

Leaving a Legacy Gift to Scale the Reach of FINCA Ventures

Steadfast FINCA supporter and Future Makers Circle member Catherine H. “Cat” Anderson, an avid birder, art patron and lifelong horsewoman, passed away in 2016 at her home in Colorado. A champion of financial access for the poor, women’s empowerment and environmental sustainability, Cat brought a pioneering determination to every facet of her life. “Among many other interests, Cat was As part of her legacy, Cat made a generous bequest to FINCA, providing significant support to FINCA Ventures, an investment platform that leverages committed to fostering FINCA’s on-the-ground presence and know-how to scale early-stage social financial inclusion for enterprises to reach millions of impoverished families responsibly. Through those with the least Cat’s legacy gift, FINCA Ventures was able to expand its portfolio of partner access, especially women, companies to grow overall impact. Cat’s son, Stephen Fitzpatrick, knows just how much this would mean to her. in developing countries. Recognizing her as a Founding Member of The Founding Members Campaign aims to raise $10 million for FINCA Ventures FINCA Ventures honors to invest in early-stage social enterprises serving the poor. Founding Members commit gifts of $100,000 or more in support of the campaign. that commitment.”

Partnering to Transform Agency Banking in FINCA Zambia

Across Zambia, access to finance is a constant struggle. More than half the population lives in rural areas where bank penetration is perceptibly low. Consequently, 54 percent of Zambian adults are financially excluded. Because many rural Zambians must travel for hours to reach a bank, they struggle to realize life’s basic ambitions, such as building a business or saving for a child’s education.

Comic Relief and Jersey Overseas Aid, two organizations committed to poverty alleviation and financial inclusion, partnered with FINCA Zambia to transform financial access and education for the rural poor. Together, they will significantly scale the reach of FINCA Zambia’s agency banking network over four years. A goal of the partnership Clients in remote areas will be able to open new financial accounts, receive is to help 385,000 rural loans and make payments in just minutes. customers conduct day- The partnership will also test a new business model whereby banking agents to-day banking within become “FINCA Financial Ambassadors.” Through training and tablet-based one hour of their home e-learning modules, FINCA Zambia’s banking agents will imbue financial literacy or business. concepts and impart advice on the financial products to meet customers’ needs. FINCA Zambia will explore how the combination of financial access and community-based education impacts clients’ abilities to manage their financial affairs and improve household wellbeing.

Photo: Carole Fitzpatrick GROWING OUR IMPACT 13 FINCA INTERNATIONAL FINANCIALS

2018 FINCA INTERNATIONAL FINANCIAL SUMMARY

Consolidated Statement of Activities*

FINCA International is a 501(c)(3) not-for-profit corporation registered in the State of New York. Our revenue comes from the microfinance operations of FINCA Impact Finance in 20 countries, as well as from grants and donations needed to help fund our work.

1% 2% 1% 6% 4% 1%

2018 2018 OPERATING OPERATING EXPENSES REVENUE

97% 88%

Total 2018 Expenses: $304,905,526 Total 2018 Revenue: $327,625,989

Program services 97% Cash grants and donations 4% Fundraising 1% Services and gifts in kind 1% General and administrative 2% Program interest income 88% Grants and contracts, including federal govt. 1% Fees and other program income 6%

FINCA International’s financial statements on pages 14 and 15 were independently audited and prepared according to International Financial Reporting Standards (IFRS). Copies of the audited financial statements are available on our website at FINCA.org/who-we-are/financials.

14 2018 FINCA INTERNATIONAL ANNUAL REPORT *Full copies of the Audited Financial Statements are available at www.FINCA.org. CONSOLIDATED STATEMENT OF FINANCIAL POSITION* as of December 31, 2018 and 2017 2018 2017 ASSETS Cash and cash equivalents $149,024,244 $153,912,034 Restricted cash and cash equivalents 36,630,102 37,713,356 Trading assets 17,569,626 — Derivative financial instruments 13,184,035 — Investment securities 27,905,255 — Available for sale financial assets — 6,232,990 Financial assets held-to-maturity — 42,032,786 Financial assets at fair value through profit or loss — 31,266,196 Loans receivable—net of allowance 809,561,932 777,645,735 Due from banks 2,342,999 377,904 Other receivables, prepaid, and other assets 22,267,280 23,537,572 Property and equipment 33,623,421 32,057,081 Intangible assets 9,996,185 9,018,960 Goodwill 786,739 989,143 Current income tax assets 731,471 923,351 Deferred tax assets 7,265,286 5,725,698

TOTAL ASSETS $1,130,888,575 $1,121,432,806

LIABILITIES AND EQUITY LIABILITIES: Accounts payable and other accrued liabilities $31,677,585 $33,829,712 Derivative financial liabilities 11,416,470 — Financial liability at fair value through profit and loss — 11,213,302 Client deposits 419,696,345 372,744,174 Bank deposits 36,126,804 62,546,969 Notes payable 350,595,677 376,330,996 Subordinated debt 24,879,575 5,651,052 Deferred revenue 5,966,438 3,884,371 Employee benefits 3,097,712 3,398,290 Current income tax liability 2,475,879 4,320,467 Deferred tax liabilities 1,840,656 2,138,352 Total liabilities 887,773,141 876,057,685 EQUITY: Reserves 18,359,125 18,458,417 Retained earnings 196,077,989 188,891,831 Currency translation reserve (63,775,514) (56,406,825) Equity attributable to owners of the parent company 150,661,600 150,943,423 Non-controlling interest 92,453,834 94,431,698 Total equity 243,115,434 245,375,121

TOTAL LIABILITIES AND EQUITY $1,130,888,575 $1,121,432,806

*Full copies of the Audited Financial Statements are available at www.FINCA.org. GROWING OUR IMPACT 15 BOARD OF DIRECTORS AND SENIOR MANAGEMENT

FINCA’S LEADERSHIP*

FINCA International Senior Management FINCA Canada Rupert W. Scofield, Board of Directors Board of Directors President and CEO Robert W. Hatch Rupert W. Scofield (Chairman) (Chairman, Founding Member) Ami Dalal, Vice President and Managing Linda Wolfond John K. Hatch Director, FINCA Ventures Jacquie Green (Founding Member) Stefan Grundmann, Michael Green Rupert W. Scofield President and CEO, BrightLife (Founding Member) Soledad Gompf Judy Reyes, Richard M. Williamson Kirsten McElgunn General Counsel (Founding Member) Fred Di Blasio Colleen Zakrewsky, John Elkins Senior Vice President, Daniela Mielke Business Development and FINCA United Kingdom Avanthi Shah External Relations Harold D. Jastram Scott Graham, Board of Directors Agrina Mussa Director of Customer Research Rupert W. Scofield (Chairman) and Field Data Services James Semakadde Dane Steven McGuire Soledad Gompf, Mahdi Yahya Charles Trevail Senior Vice President and David E. Weisman Philanthropy Advisor Jordan Greenaway Peter Weiss Her Majesty Queen Linda Toscano, Rania Al-Abdullah of Jordan Chief Financial Officer Colleen Zakrewsky (Director Emeritus)

FINCA International thanks outgoing board members Amanda Ellis, Dr. Fred Seymour and Peter Epp for their service on the Board of Directors.

FINCA International is a nonprofit, tax-exempt charitable organization under Section 501(c)(3) of the United States Internal Revenue Code. Donations are tax-deductible. Our tax ID number is 13-3240109. FINCA Canada is a Canadian charitable organization. Donations are tax-deductible. Our Canada Revenue Agency Charity Registration Number is 80568 6144 RR0001. FINCA UK is a registered charity in England and Wales under registration number 1127778.

16 2018 FINCA INTERNATIONAL ANNUAL REPORT *As of June 30, 2019 PRIVATE AND PUBLIC SECTOR PARTNERS

FINCA’S PARTNERS

FINCA International is grateful to all the corporate, foundation, bilateral, multilateral and other partners who support our work on long-range and large-scale initiatives. Our partners lend significant financial support, as well as technology and know-how. They help us enter new markets, deliver new products and services, and improve the efficiency and effectiveness of our operations.

Private Sector Partners Public Sector Partners

The Bill & Melinda Gates aBi Trust International Executive Foundation Comic Relief (with support Service Corps Clifford Chance Foundation from Jersey Overseas Aid) International Finance Corporation Credit Suisse ÉLAN RDC Karandaaz Pakistan Financial Inclusion on Business European Investment Bank KFW Development Bank Runways (FIBR) (with support from the Microfinance Investment Support Net Hope, Inc. Government of Luxembourg) Facility for Afghanistan The Peter Gilgan Foundation Financial Sector Deepening Regional MSME Investment Fund Tanzania Social Performance Task Force for Sub-Saharan Africa Financial Sector Deepening United Nations Capital Thomson Reuters Foundation Uganda TrustLaw Development Fund FMO Entrepreneurial Whole Planet Foundation United States Agency for Development Bank International Development WildHearts FPM (Fonds Pour l’inclusion United States Department Financière en RD Congo) of Agriculture GIZ (Deutsche Gesellschaft für Zambia Ministry of Finance (with Internationale Zusammenarbeit) support from International Fund Global Affairs Canada for Agricultural Development)

Photo: Alison Wright GROWINGGROWING OUROUR IMPACTIMPACT 17 CONTRIBUTORS WHO SUPPORT OUR MISSION

FINCA International sincerely appreciates the FINCA’S loyal support from all its benefactors. While we are unable to acknowledge every donor on SUPPORTERS the following pages, all supporters helped to further the FINCA mission and impact many lives in 2018. We are inspired that you share our commitment to market-based solutions to poverty and honored that you have chosen to make a lasting difference through FINCA.

$100,000 and above Constance and Andrew Vanvig* Albert Green Catherine H. Anderson Trust Laurette Verbinski in honor of Jacquie and Michael Green Patrick McGovern Ward Bouwsma* Timothy and Amy Guth David Weisman and * Diane Cavenee* Jacqueline Michel Bonnie Haley * Julie Falconer Richard and Kristen Williamson Anita Hendrickson Nancy and Robert W. Hatch Anonymous Jeri and Jeffrey Johnson The Hershey Family Foundation Joan and George Jones Dorothy Hines* $10,000-$24,999 Brian Kelleher and Teresa Kelleher Zepeda Karin Querfeldt* Dori Altschuler* The Kristie Charitable Foundation Bror Anderson* Catherine Larson $50,000-$99,999 Linda and Austin Anton Wayne and Karen Lattuca Lillian Barnes* Eric and Cindy Arbanovella Max and Janet Laudeman Florence Morford* Neal Battersby* The Leibowitz and Greenway Family Osprey Foundation William and Debbie Becker Charitable Foundation Rudy & Alice Ramsey Foundation Carol and Dennis Berryman Renee and Harold Levine Anonymous (2) Stanlee and Elizabeth Brimberg Mile High Friends of FINCA Paradise on Earth Fund Eileen and Bob O’Leary $25,000-$49,999 Susan Okie Bush Lynne and Archie Palmer J. Keith Behner and Irene Chayes* Marguerite Rider* Catherine Stiefel Frieda and Edward Davis Mary Romney and Edward Hauck Ann Bogrette* Dume Wolverine Foundation Lynn Gordon and David E. Simon Harold Bornstein, M.D. Peter Durst and Ellen Seale Fund Eric and Laura Chern Toshi Suzuki* Terry and John Elkins Peter Epp Alexander Templeton Dr. John K. Hatch The Warren & Deb Fisher Charitable Fund Claude Thau Maureen Roberts* Nancy and Lawrence Fitzgerald H. van Ameringen Foundation Lorraine O’Hara and Rupert Scofield Bert and Candace Forbes Adam Waldman The Spurlino Foundation Cameron and Diane Fowler John Watts and Carol Petsonk Charles and Imelda Trevail Mary and John Grant Foundation Emily Williams

18 2018 FINCA INTERNATIONAL ANNUAL REPORT *denotes deceased Edward and Barbara Wilson Janan and Alan Carter Sue and Ralph Hoevelman Ryan Wise and Leslie Brunner Paul & Pearl Caslow Foundation Jan Horton Linda and Greg Wolfond Vija Celmins Mary Johnston Mr. Tom Rastin and Stephen Charles Phyllis and Roy Kadle Ms. Karen B. Wright James and Eithne Chuchel Kalan Foundation Mark and Katherine Young Clifford Foundation, Inc. Ernest and Karen Koenig Audrey Zettl Judith Collins John Koop Emmanuel Crabbé and Ralph Kosmicke $5,000-$9,999 Kerry Reinertsen Mark and Stacey Krembil John Deharpporte Alpern Family Foundation, Inc. William and Janis Lamoreaux Mark Dexter and Deborah Cowley Sally and Donald Anderson Eileen and Thomas Landry David and Catherine Dixon Victoria Beynon Therese LeNeveu Anna W. Dixon Family Trust Phyllis Bischof Arthur Lipson and Rochelle Kaplan David DuPont Joseph and Susan Bower Sandra Long Mike and Nancy Fenton Janice-Dani Bowman James and Katie Loss Richard Fink Shirley Branch Luschei Outermost Fund Robyn Friend and Neil Siegel Marion Brannon MacInnis Family Foundation E. Gabel and Donald Lateiner William and Angela Breakey Kenneth Mackenzie* Debbie Gamble Phyllis and Walter Brissenden Walter Macnee Madelaine Georgette Mary Brown Beverley Martin Mary Goodwyn John and Alice Burgess Christine Martin Jordan Greenaway and Fan Wan David and Barbara Burns Mary Grace McCaffrey* Philip and Susan Greenberg Elizabeth Carabillo Thomas and Marilyn McLaughlin William and Barbara Guensche Daniel Carl Nancy Meier Rick Gunderson Sherman Carll The James A. and Donna-Mae Moore Kate and Leland Hawkins Foundation Joan Carlson Rosita Hiscox Mouat Charitable Trust John and Kyra Carswell John and Ann Hisle Joseph Murphy and Naomi Winick

Engaging Supporters through the FINCA Advisory Council

FINCA hosted a reception and panel discussion that explored the role of strategic philanthropic capital, or impact investing, in pioneering and scaling market-based innovations supporting the world’s poor. Attendees were joined by all four founding members of FINCA—Richard Williamson, Robert Hatch, Rupert Scofield and John Hatch (from left to right in the accompanying photo). The event was the first under the FINCA Advisory Council, a new global network of individuals and institutions working together to advance the mission and work of FINCA. If you are interested in joining the FINCA Advisory Council, please visit FINCA.org/council.

Photo: Scott Faust GROWING OUR IMPACT 19 Bonnie New The Ruth Arnhold Endowment Fund Virginia Galvin Morton Noble* Jefferson Asher Robert Gerber Liz Northrop and Jim Arthur Carole Bastian The Gesher Family Foundation John and Mary Beth O’Brien Karen Beck Christopher Gilkerson and Dorothy and Paul Olson* Cecilia Benton Susan Mathews John and Penelope Pepperell James and Frances Berger Rolf and Julie Goetze Beth A. and Martin D. Peyer Michael and Sompson Betz Gary Gorchester and Lyn Gorchester Uvaney Jim Price Janice Bloom and Adam Grumbach Marion and Doug Graney Aaron and Arleen Priest Elizabeth Bolotin Margaret Guthrie Joan Procopio Marcia and Neal Bosshardt Ken Halvorsrude and Valerie Acuff Linda and Ahmed Raiss Allen and Viola Boutte John and Druscilla Hammond James Ray Norma Bradfish Bill Handsaker Wendy Ring and Michael Shapiro Cynthia and Joel Bradley Jessie Harris Doris Roskin Edward and Rozann Brittain Leslie and Claire Harsch Chris Sarandon and Joanna Gleason Steven Bruckner William Harter Miriam Sayeed Samuel Burr and Eugenie Doyle Alvin Hayes* Robert Scheel Kimiye Cabrera Frank and Miriam Hellinger Karen Schupak* Fleurette Carleen William and Mary Lee Hendricks Gwendolyn Scott Janet Carter Michael Himes and Elizabeth McClain Jean Seiler Greg Chachere Marilyn Hoegemeyer Fred and Marggi Seymour Renee Conforte McKee and Richard Hornsby Mark and Pam Sibley David McKee Mark and Dyan Houghton Diane Staves Megan Contakes Mary Huff McDowell Steele* Robert and Susan Cushman Monwhea Jeng Ms. Margaret Sturges and Suzanne Dalton Lincoln Draper Robyn Daly Beverly and Ken Jinkerson William Tennis and Sarah Cartmell James and Linda Degroot Keith Johnson The Thompson Family Charitable Sarah Delaney Paul Johnson and Melanie Abercrombie Fund Andres Deluna Virginia Johnson Leland and Marian Tolo Felix DeMartis Tom and Heather Keenan Gilles Vrignaud Louis and Lori DeSorbo Julie Keese Margaret Watkins Katharine and Mark Dickson Kingfisher Fund Mark Weigel Deborah Diebold de Naveja James Whitley and Juan Naveja de Anda Alan and Robin Kluger Mel and Pedie Wolfond Art Duncan Mr. L. David Knock James and Carole Wortley Connie Ellerbach Beverly Krivokapich and Glenn Ducat Cary and Lynn Yeh Judith Elliot Thomas Lehrer Anonymous (4) Peter and Lucy Feniello Josef Leitmann and Reiko Niimi Evelyn Ferguson Lemole Family Charitable Trust $2,500-$4,999 John Field Deborah Litzenburg Luck Family Foundation Janet and Gregory Abels Walter and Kathleen Fortney Richard Lundy and Lucille Goodwyne Laurie Adams Ann and Alan Frank Mary MacGregor and Phil Lieberman Renee Agnew Rebecca Frederick and Trina Tjersland Claudia Marrow Susan W. Almy A. H. Gage Private Foundation Richard and Diane May

20 2018 FINCA INTERNATIONAL ANNUAL REPORT *denotes deceased Susan McAllister James and Laurie Speer Tanny Adkins Marilyn McCloskey Leigh Stamets Todd and Linda Adler Mary McMaster Irene Steinman John and Kathleen Agnew Donna McMillan and Carrie Blazek Robert Stephen Noel Ahlstrom Regina Michaelis* Albert and Anne Stewart Shelly Ahmann Elizabeth Moser Roxann Stoski Zakir Ahmed Christine and James Murakami John Sullivan Manohar Ahuja Neskey Family Fund Michael Sullivan Elizabeth Ainslie Douglas and Karin Newcomb Doris Sweet George and Leslie Akst James Noble John and Susan Tappeiner Sarah and Stephen Albright Leslie Noblitt Rebecca Thomas and John Pitlick Lew Aldridge Joyce and Roger Nussbaum Maria and Matthew Tracy Jeannine and Peter Alexandro Leslie O’Loughlin Kevin Tribe The Altman 2011 Charitable Lead Jeff Olson Wilma Tucker Muse Annuity Trust Katherine and Conway Olson James Tyler M. & B. Amparan Charitable Carol Oukrop Margot Unkel Bradley and Kirsten Anawalt Ann Perkins Anne Von Rosenstiel Leif and Susan Ancker Alice Phalan Barbara Waller Jean Andresen Helen Plante Alan Ward Robert Anes Steve and Robin Pollens Jack Webb William Angino Lester Poretsky Family Paul Weiden and Beverly Linkletter Gerry Annand Foundation, Inc. Jon Weinberg* Robert Anthony Janet and Norvin Richards Paul Weissman Nancy Ardoin Mary Richards Nancy and Glen Whitney Robert and Peggy Arfman Judith Ring Karen and Stephen Wiel John Armitage D. Roskin Rod and Karen Wiens Diane Armstrong Joseph and Veda Rugola Thomas Willett and Cynthia Beck Jane Arnold Gary Sackett Mr. Daniel Wolkowitz Marlene and John Arnold Valerie Salwen and Donald Wood Narra Asher Stephen Rogowsky Josephine Woodman Lila Asher Charitable Account Teresa Sanchez-Latour Gary H. Wright Kevin Ashton Barton Schmitt Sara and Paul Wright Russell and Carol Atha Taylor and Kimberly Schollmaier Jeannine Young Nancy Atherton Edwina Schulman Pat Zaharopoulos Cynthia Atkins Robert Schumacher Zaitlin-Nienberg Family Fund Stephanie Augustyniak Scudder Family Foundation Anonymous (15) Peter Azrak Steve and Trish Shapiro Mary and Ronald Bacon Family Foundation Isabel Bader Martha Sholes $1,000-$2,499 Suzanne Bahmanyar Peggy Siegel Joyce Abbott Judith Bailey Allen Simon Fund Kristen Abraham Bridget Baird Catherine and Peter Singer Bruce Ackerman Tricia Baird William Smith Betty Adams Baird Foundation, Inc. The Mitchell David Solomon Dominick Addario Foundation, Inc. Audrey Ades Ronald and Dorothy Baker

GROWING OUR IMPACT 21 Marilyn Balassi James Bennett Richard Bobbe Andrea Baldzikowski Herbert and Vassiliki Bensinger Virginia Boehme Christopher Ballad Todd Benson and Jenny Solorio Linda Bollensen Laurie Balmuth Robert Bergad Martha Bolognini Stephen and Lynda Bany Perry and Ellen Berman Jacques and Carole Bonnet-Eymard Paul Barber Michael and Arlene Berner Toni Bottari Clarence Barker Eleanor and Richard Berry James Bouwkamp Susan Barnett and John Young Mildred and Joseph Berryman Huchail Bowen Antonio and Kimberly Barraco Susan and Peter Betzer Thomas Bowen Rosemary Barrett and Howard Ulan Moiz Bhabhrawala Charles Boxall Edith Bass Fred and Betty Bialek Barbara Braddick Bassett Foundation Judith Billings William Braden Sara Batchelder Lynn Binder James Bradley Elisabeth and Robert Bathgate Steven Bird Kim Bradley Robert Bauer Richard Biren Carollee Braithwait Benjamin and Susan Baxt Boris Birmaher Barbara Bramble Jill Beach Norbert and Inger Bischofberger Lewis Brannon Martin Bebow Mary Bittner Dennis Breen Mark Beck Victoria Black Louis Bresee Susan Becker Hille Blackshaw The Bretscher Family Foundation Sibyl Beckett* Robert Blais Normand Briere and Carol Beechy Susan Blomberg Nicole Larocque October Farm Leonard Bloness Mark Brodie Raymond Begin Karlfred Bloom James Broucek Ian Bell Barbara Blount Charles and Joan Brown Pamela Bendich Stephanie Blum Jane Brown Marge and Glenn Brown

Coming to the Rescue When Nature Calls

James Mugweru and his wife, Margrate Wambui, live in an open field outside Naivasha, Kenya. Like their neighbors, they rely on an outdoor pit latrine each time nature calls. Given the lack of security and the preponderance of petty thieves in their poor neighborhood, Margrate is vulnerable to attack when using the toilet after dark. Fortunately, Sanivation—a FINCA Ventures partner company—introduced a portable, container-based toilet to the community. For just $2 per month, James and Margrate now have clean, safe and dignified access to a toilet.

22 2018 FINCA INTERNATIONAL ANNUAL REPORT Photo: Alison Wright Peter Brown Hean Chiang Charlotte Curry Stanley Brown Howell Chickering Pamela Curtis Willis Brown Wong Choo Joan Cushman Michael Brunsvold Lee and Amy Christel Laurence Cusick Sylvia and James Bryan Rosemarie Ciccarello David Cuthbert John Bryer Charles Clark Eugene Daily Brandon Brylawski Richard and Jean Clarke Barb Daley James Buchanan Charlotte Cleghorn Diane and John Dalsimer Edward Buckley Robert Clerico Margaret Daly Ted and Elsie Buczkiewicz Lynn Cochran Caroline Damsky Nancy Budiansky Diane and Robert Coderre Faith Darling Thomas and Deborah Buechner Hilary Cohen The Larry David Foundation, Inc. Maynard P. and Katherine Naomi Cohen Gordon Davidson Z. Buehler Foundation Fund Naomi Cohen Kenneth and Linda Davidson Michael and Marcella Bungay Stanier Stanley Cohen Florence Davies Margaret Burkhart Elizabeth Coker Jamini and Gregory Davies Jane Bush Lin Florinda Colavin John Davies Jeanne Butler Peter Coleman Peter Davis Alice Byers Arthur Collins A De Decker William and Christine Cable Courtney Collins Nancy de Groot Margaret Cain Lee Collins Peter and Rena de Jong Callahan/Caldwell Foundation Terri Colosimo Elisabeth De Picciotto Joanne and David Cameron Carol Combs Naoma Dean-Clague Kenneth Caneva Sabrina Comic-Savic Donna DeDiemar Michael and Kareen Caputo C. Thaddea Compain Gail DeGrave Jerry Carle Donald and Barbara Connolly Diantha DeGraw George Carless Patricia Connors Ann and James Deline Kathryn Carlin Jennifer Cook Charles Delmar Foundation Jean Carlson John Cooney Nora Demleitner and Michael Smith Alan Carsrud Kay Cooper Robert & Eleanor Demple Family Leslie Carter Patricia Corbell Foundation Robert Caruso David Corn Lindsay Denault John and Margaret Casey Patricia Cornelison Pamela Deprez Paul and Gail Caslavka Dr. R. William Cornell and Richard and Betty Derbyshire Melissa Cavaghan and Paul Heift Mrs. Chloe Cornell Kathryn and Brian Derry Cathy Cavell Kathleen Corpuel Patricia Detrich and Allan Dietrich Dani and Allen Chaffin Stephen and Luann Corr Carol Devoss Nicolas Chagnon Judith Corry Edward Diamond Carla Chamblee Roger Corzine Margaret Diaz Wai May Chan Keith Cowan and Linda Walsh Janet Dickerson and Jerry Larson Miriam Chapman Nancy Craig Roberta Dickinson Brian and Allayne Chappelle Rita Cramton Susan Dickinson Michael Charles Michael Crane Kay Diederich Kathleen Cheevers Dorothy Crawford Chris Diehl and Saskia Schott Samuel Chen Calvin and Lois Crow Ms. Lisa Jakobsberg and

GROWING OUR IMPACT 23 Mr. Jay Dinowitz Mark and Karen Farnan Jim Fuehrmeyer Doehring Foundation Bobby and Mary Farris Sumiko Fukada Paul Doerksen W Faulkner Henry Fullerton* John Dooley Fred and Ruth Fay Therese Fumich Doolittle Fund Friederike Feldmann Marianne and William Gagen Laurie Doran and Christopher Wasel Robert and Geraldine Ferguson Evelyn Gaines Nancy Doty Sidney Ferguson Marion Galison Stephen Drew Elizabeth Fergusonnet Annette Gallagher Pierre Duchaine Gary and Mary Ferman Nancy Gallt Douglas S. and Ann S. Dumas Roberto Fernandez George and Dorothy Gamble David Dumoulin Ferris Family Charitable Fund Kevin and Kathleen Garnica Karen and Harold Dunlap Calvin and Nora Fiedler Gregory Garst John Dunn Marilyn Field Maria Garzon Craig and Sue Dupler William Fillmore Martha and Spencer Gates The Durst Family Spencer Finch Savitri Gauthier and Douglas Mary M. Dusenbury Roger Findley Fambrough Irene and David Dyer Alan Finnis Eugenia Gengler Robert and Wanda Eberle Frank Finsthwait Paul Gensheimer Walter Eberspacher Joachim Fischer Marika Geoghegan Scott Edmond Louis and Brigitte Fisher Kathleen Getson Kemerer Edwards Michael Fisher Malcolm Gibbons S. Edwards Stephen and Lana Fitzpatrick Zephyr Charitable Foundation Tom and Jackie Edwards Maureen Flanagan and William Nancy Gibbs Don Eggerling Groneman Benedict Gierl C. Lennart Ehn and Ginger Lew George Flores Bruce Gillam Lauren Ehrman Dr. Patricia L. Fluhrer Allen and Shirley Ginzburg Carol Eisen Bill Foege Victoria and Adam Gitlin Frederick and Kimiko Ek Marie and John Foley Stephen Gladstone Eric Elbers Katherine Foley and Ruth and Jack Glantz Scott McMahan Family Foundation, Inc. Nicholas and Nancy Eltgroth Karen and Michael Folk Andreas and Geigenmuller Grinke Priscilla Elwell and Richard Miller Breena Fortner Edward and Elizabeth Goff Philip English Benjamin Foster Constance Golas Elaine Epstein Marguerite Foster Ann Goldberg Lucille Evans-Hahn Doris Jeanette Foster Foundation Rachel Golden Anita Evers Florence Fowlkes Ruth and Richard Goldstein Davilyn Eyolfson Arthur and Mary Frackenpohl Steven Gompertz Rosemary Faber Renate Franco Emilio and Cecilia Gonzalez Jean Faddis Rachel Fraser Teri Goodall-Komar Rumi Faizer Nancy and Daniel Freeberg Susan Goodman Kenneth Falstrom Jon and Jeanette French David Goodrich Joan Fanning Ian Frensch Ellen Gordon L Farley Edward and Angela Fried Katherine and Michael Gordon Jean Farmer Edward Friedmann John Gorsuch

24 2018 FINCA INTERNATIONAL ANNUAL REPORT *denotes deceased Kyle Grace Peter Hartline and Rebecca Kucera Warren and Linda Hollis Eric Grade Dr. Daniel Hartnett Family Foundation Valerie Holmes Jon Graff Karen Haskell Alice and Gilbert Homstad Gregor Grant Margaret Hassett Sari Hornstein Dana Grebbien Craig Hathaway Jeri Horton Meg and Richard Green Mallory Hathaway Alice Houseknecht Thomas Green Raymond Hauser Charles Howe Scott and Linda Greene Hayden Foundation James Howe Giver Gregg James Hayes and Catherine Keig Elwood Howerton Lee Gren Henry Haynes Ichi Huang David and Jean Grier Fund Mark Haynie and Joel Huber and David Griffith Anne Perry Haynie Christine Jones Huber Linda Griffith and Scott Kellogg Irene Hecht John Hudson Roger Grimm Lee Hecht Margaret Hudson Frank Grobman Patricia Heil Michael Hughes Donita Gross Cheryl Heinonen John Hummel and Cynthia Mark-Hummel Kim Guishard Robert Heinrich Paul Hurd Gloria Gustilo Grace Heirsch Marietta Hurst Daniel Hadlock Jacqueline Henderson Robert Hurtubise Mary Haering Ricia Hendrick Tom Huth James Hagar Bradley and Trudi Hennemuth David Inge Colette Hagen Charles Henrikson William Jacobi Robert and Elke Hagge Ralph Herbert Kathleen Jacobson Lynn Hagman Patti Herman Emmanuel James Dorothy and Thomas Hahn Juan Herrera Frederic Jandrey Janice Hale Jeff Herring Harold and Melva Jastram Bill Hall Anne Herschler Allen Jedlicka and Wendy Brudevold Grace Hall Kevin and Linda Herzog P. Q. Jenkins Kathleen Hall Earl and Berys Heuer David Jette and Cecile Disenhouse Deborah Halliday Susan Heyman Gonzalo Jimenez James and Ingrid Halstead Hickey Family Foundation Barbara John Robert Hamilton Bob Highfill Carl and Mary Johnson Barbara Hancock James and Margaret Hill Donna and Matthew Johnson Maureen Hand Kelsey Hill Cecil and Shawna Johnson Sherry Handley Philip and Marjorie Hill Thad and Suzan Johnson David Hannay Tom and Cathy Hill David Jones Willard and Mary Hannon Patricia Hilpert Judith Jones Duane and Karla Hansel Jason Hime Ms. and Mrs. Nancy Jones Alice Hansen William Hinder Richard Jones Wayne Hardwick Joseph Hingston Robert and Kristen Jones Fred Harman Daniel Hinkle Jay and Susan Jostyn John Harper and Ellen Tohn Robert Hodapp Michelle Jourdak Catherine Harrigan John Hoffman Karen Joy Kenneth Harris Elizabeth Holden

GROWING OUR IMPACT 25 Edward Juda Maureen Koseff Jeffrey Lipkin and Patricia Kaiser Susan Koziak Kathleen Anderson Allan Kalish Lisa Krekorian Angela Lloyd and Ric Simmons Karen Kallay Liza Lee and George Kremer Dorothy Lockspeiser Mary Kanter Martin Krippl Ruth Loevinger David and Renee Kaplan Spencer Krueger and Mary Lefevre Karen Long Alfred and Marilee Karlsen Donna Krupp Anthony Lorts Cathy Kaufman Iger Ruth Kruse Alice Loughry Nicolas Kauser Robert Kuehlthau Carole Lovinger Curtis and Karla Kay Mrs. Rosemary B. Kuehne Loewi-Lemberger Kaplan Charitable Fund Thomas Keane Steven Kuhn Helen Lowry and Alastair Wall Betsy Keefer Kurtz Family Foundation Trust Andrew Lucas Robert and Jolyn Kelley Steve and Susan Kute Diane Luka David Kellman Meredith and Joseph Kwiatkowski Anne Lux Margaret Kelly Raymond and Phyllis La Frey Nancy Mabel Steven Kemp Bennye Laffere Lyn Macbeath Robert Kempf Linda Lamaire Edward MacBulney William Kendrick Kathy Landry Brian MacDevitt Claudia and W. Keith Kennedy Bill Lane Alan MacDonald Elizabeth and Donald Kennedy Sheila Lang Brian and Lori MacInnes James Kennedy Eugene and Catherine Lantz Antoine Macoule Audrey and Tim Kenny Dinah Larsen Mary Lou and Jerry Madden Virginia Kern Sue Lashley Susan Madian Joel Kester Jose Latimer Keith Magnuson and Patricia Austin Coyla Ketchy Cristine Leavitt Karen Malcolm Fernando and Lynne Kielhorn Pearl Lee Suresh Mallikaarjun Frank and Linda Kilpatrick Margaret and Clarence Leinbach Patricia and Frank Mancuso Namsik Kim Ms. Mary L. Leith Mary and John Manley Elizabeth King Alfred Lemmo Richard Marby Rita and Timothy King Emily and Gerald Lemole Stephanie Marchini Tom Kinraide Mary Leno Ruth and Michael Margolin David Kirk Paul Leonard Robert Marshall Gabriela Kiss Larry and Donna Lesh Charlie and Susan Martin Rebecca Kissel Adrienne Levin David Martin and Miriam Lezak Philip Klabunde Leslie and Marsha Levine Janet Martin Ulrich Klapper Donald Levy Lois and John Martin John Klein and Maria Pastoor Daniel Lew and Sally Kornbluth Doreen Martindale Kathleen Klein Charlton Lewis The Martsolf Charitable Gift Fund Lawrence Kleinman Drs. Dennis and Anne Lewis Richard and Barbara Marx Douglas Kleinsmith Sally Lewis Sheila Massey Roger Klene Raymond and Patricia Liden Mr. and Mrs. Henry J. Massman Joy Klopfer Raymond Liden Marc Mauer Deirdre Knapp Nancy Lifland Diane May Liesbet Koromzay Joan and Roger Lindholm Jean Mayer

26 2018 FINCA INTERNATIONAL ANNUAL REPORT Experiencing What It Means to Be Unbanked

Nearly 2 billion people around the world live without access to the financial services most of us take for granted. In the absence of a secure place to keep their money, the ability to save for a child’s education or access to a small loan that can grow a business, life becomes unsafe, unprepared and unproductive. To raise awareness, FINCA invited supporters to take the Unbanked Challenge and then share about the experience using #IamUnbanked on Twitter and Instagram. Visit IamUnbanked.org to learn more.

Judith Mayer Duncan Mendelsohn Lydia and Thomas Moran Michael Mc Vey and Cris Meyer Phyllis Morgan Caroline Stevens Christian Michaels Bruce Morse and Gail Erlandson Steve and Nancy McAlister Madeline Miles Corinne Morse and David Beeman Robert and Dorothy McCabe Margaret and Gary Miles Ruth and John Morton Marlene McCall Harold Miller William Morton Alicia McCalla Margaret and James Miller Margaret Moses Paul McCarthy Rebecca Miller James Moulton Barbara McCluskey Susan Miller and Kenneth Kendler Keith Moulton The Jarvey McCord Foundation Mary Mills Peter W. Moyer Evelyn McDonald Howard Sylvia Milosh Erik Murer Janet McDougall Lawrence Minton James and Lorna Murphy Paul and Whitney Mcevoy Stephen Minus James Murphy John Mcgrath Megan Mistler Karen Murphy Lorraine McHale Sandra and John Mitchel Elliott Murray Mark McHugh Pam Woodley and Perry Mitchell John Murray Henry McKean Ronald and Joyce Mitchell William and Jane Murray David McKee Gavien Miyata Fred and Linda Naddaff Margaret McKee Leo Model Foundation, Inc. William and Ann Naftel Robert McKee Michele Moehring Paul Nagai Martina and C. McLarney Margie Moeller and Alan Lee Jill Nagorniak Kevin McLatchie James Keith and Marion Moffatt Uday and Sangeeta Naik Kevin McLaughlin Richard Mollette Jeffrey Nareski Lynn McMahon Edward Molnar Dan and Diane Neal James and Caroline McManus Patrick Mooney Daryl Nees Fara and John McMullen Cindy Moore Kathleen and Edwin Neill Gordon McRobbie Robert and Dolores Moore Catherine Nelson Marilyn Mead and Peter Holter Dr. Thomas J. Moore Debra Nelson George and Jean Meek Ann Morales Emilie Newell

Photo: David Soll GROWING OUR IMPACT 27 Jane Newman and Amy Lange Dr. Rebecca J. Parsons Bart and Shannon Rabas Peter Newman and Kathy Lang Robert Paslay Kenneth Raedeke Allen and Joan Niles Yasmina Patel The Sudha Raheja Fund Gary Nixon and Mel White Vance Patterson Joan and Larry Rahm Raymond Noble Deborah Pavis William N. Raiford Kay Noel Richard Payne Elizabeth Rajam Sarah Nordquist Mary Peacock Bala Ramachandran William Norwalk Edward Pearson Mark and Jacquelyn Ramba Ms. Julie Norwell and William Peery Frank Randall Mr. Russell Charlton Gary Pelton Patricia Randall Tori Nourafchan and Veronica and Charles Pelzer Karola Ranft David Rosenstein Charles Perez Gerald Rappe Genaro and Carmen Novoa Susan Perreault Chris Ratkowski Daniel Nowlan Mary Perschy Ann Rawley Harold and Isabelle Oaklander Michelle Pervaiz Rebecca Rawls S. Obenshain John Pfister Terrie Ray Marianne and John O’Brien George Phillies Anthony Rebarchik Susan Oesting Jane Phillips Robert and Joan Rechnitz Robert O’Farrell Paul Phillips J. Reck Elaine and Michael O’Hear William Phillips Emily Reed Brian Olson Kenneth Pick James Regan Gregory and Gloria Olson Gwynedd Pickett Rosemary Regis and M. Emmett Omar Gary Pierce David DeRamus Michael and Mary Oothoudt Xavier Pi-Sunyer and Penelope Richard Reiser Sharon Orbeck Pi-Sunyer Christine Renier Nora O’Rourke Hanna Pitkin Deborah Rennels Richard Orser Louise Plank Ursula Reusch Christopher Osgood Richard and Orah Platt Daniel Revelle and Laura Curtis Ingrid Osswald William Plunkert Anna Louise Reynolds Thomas Oswald Roger and Marietta Podesta Dawn Reynolds Donald and Rita Otis Mary Poe and Dennis Revichi Gerald and Christa Reynolds Joshua Otlin Elizabeth Pollack Mary Reynolds J. Douglas Overstreet John Poole Roy and Heather Riah Jean Owens Mary Porbeck James and Kimball Rice William Owens and Mr. Alexis Porras William Richards Sharon Pigg Owens Dorothy Porter Bonnie Richardson Siu Owyeung Richard and Janet Post Rane Richardson Alan and Virginia Pabst Lucy Potts John T. Riecker Mary Paci Marilyn Powell Karen and Robert Rigel Raul Padilla Randall Presuhn and Timothy Nguyen Mr. William A. Ritter Mary Ann Padol Diane Pretzer* Frances Roberto Louise Pantaleo Daniel Purcell and Heather Hanly F. Bruce and Nancy Roberts Paquette Charitable Foundation John Purkiss Cynthia Roberts Jungsoon Park Roberta Quiat Edna Roberts Kay Parkinson Patrick Quilter Elaine Roberts

28 2018 FINCA INTERNATIONAL ANNUAL REPORT *denotes deceased Bruce Robertson John Sapienza Allan and Judith Sherman Janeen Robertson Steven Sarafolean David and Elizabeth Sherman Christopher Robinson and Susan Sarandon and Timothy Robbins Martha Sherrill Mary Anne Mullins Yutaka and Rebecca Sato Eric and Carolyn Shettle Laura Robinson Kenneth Sauer Mary Shields Sharon Robinson LaRae Savage Fund Shine on All Foundation John Rockwell Carol Savio Harold Showalter Gordon Roe Susan Saxl and Robert Kramer Alan and Lisa Shusterman Robert Rogers Joseph Sayre Martha Sibert Patricia Rohan Nelson and Nancy Schaenen Arthur Siciliano Thora Romain Ronald Schambach Rebecca and David Sidney John Romeo Scheman Family Fund Martin and Felicity Sidwell Lynda Rose Roger Schembs Jane Sieverts William Rose Steven Scher Anne Sigleo Anne Rosen and Andre Spears James Scherer Penny and Peter Simkin Dennis Rossman Joan Scheuer Barbara Simmons Carolyn Roth Elliot Schewel Elizabeth Simon Jeffrey Roth and Joanna Katz John Schley John Simon Laura and Keith Rothman John and Diane Schlitt Michael Simpson Erlind Royer Joe and Angela Schmidt Arvinder Singh Claudia Ruchar Helen Schneider Frank and Katherine Sinton Kevin Ruddell and Heather Kroll Kristina Schneider Dale Sipma Adam Rudolphi Elizabeth Scholer James Skofield Adelheid Ruettimann Barbara A. Schreffler Stacey Sloan and Katherine William Kenneth Rule Antonia Schulman Wendy Smiley Karl & Alice Ruppenthal Foundation Jocelyn and Peter Schultz Alice Smith for the Arts The Schultz Foundation, Inc Charles Smith Barbara Russell Kenneth Schutte Janet Smith Elena Russell Roy Schweyer Joyce Smith James and Marjory Russell* Pamela Scott Wesley and Lisa Smith Justine and William Russell Stephanie Scott Curt Snyder Roselinde Russell Ralph Scoville William Snypes and Suzanne Suter Katy Rydell David Scruby Polina Sokolova and Eric Smith Norman Sackar Diana Scully Ms. Elaine Galanis Solley Judith Sadowsky Margaret and Niall Scully Suzanne Sousan Ronald Saffar Larry and Linda Seiler Marg Southern Barbara Salas Paul Self Nancy Spence Saeedeh Salmanzadeh Ronald Sencer Aljeh Sperling Carolyn and Joel Salon James Seward and Julie Karcis Richard and Jill Spitz Michael Samuelson Sirely Shaldjian Jonathan Spool Diane Sanchez Harriet Shapiro Rodney Squiers Dianne and Frederick Sanders Ronald and Judith Shaw Helen Squires Mark and Jodi Sanders Barbara Shecter Vanora St Clair Bob Sanderson Dr. Jack D. Shepard and David and Ann St. Germain Hartej Sandhu Dr. Jessica M. Peirce

GROWING OUR IMPACT 29 Donald and Sylvia Stanat Mr. and Mrs. E. Marvin Stouffer Paul and Margaret Taylor David Stanislaw Richard Stout Sharon Taylor Drs. Gretchen Stearns and Mary Strachan Phoebe Telser Richard Weininger Erik Strahm Robert and Bonnie Temple Mary Steele Ian and Jane Strang Gregory Terrell Ronald Steele Joanne Stroud Gregory Thelen Dave Stein David Stuart Bryan Thiessen Annette Steiner Edward and Nancy Stuart Eleanor and Dan Thompson Bruce and Julie Steiner Mike Suddaby John Thompson Peter Steiner Scott Sugar Kristin Thompson and David Bordwell Loren and Carol Steinhauer Sandra Sumich Marilee Thompson Julia Steinmetz Marko Susnjara Michael Thompson Diane and Norval Stephens William Suter Peter and Luann Thomson John Stephens Constance Sutton Thomas Thueson George Stephenson Bobbie Swasey William Thuma Paige and Joshua Sternin Judith Sweeney Richard and Suzanne Thweatt Alexandra Stevens Bruce and Emily Swomley Olene Tilton Sally Stevens and David Leigh Bruce Timmer and Anne Timmer Joseph Sylvia Frances Stevenson Jennifer Tipton Steve Szymanski and Caroline Zug Martin Sticht David Tonjes and Karen Galindo Talmage Family Foundation Carole Stiller John Tornquist Lily Tamura Brett Stineman and Linda Larkin Paul Tracy Alistair Taylor The Mark and Mary Ellen Stinski Inge Treser Foundation Bill Taylor and Marilyn Taylor The Trostrud Charitable Fund Todd and Sarah Stivland John and Pat Taylor John Trotter Steven Stockman John and Rita Taylor Ann Troy Jenny Stoddard John Taylor M Tullis

Switching Careers from the Corporate World to Social Enterprise

Andrew Muhwezi grew up in Uganda without the comforts of electricity or running water. By age 5, he was running a small business grilling chicken and making juice, the proceeds from which he put into a savings account to pay for his school fees. After finishing school, Andrew quickly rose through the ranks in the banking and energy industries. Andrew, though, could not forget his humble roots. In a move that shocked everyone but himself, he left the corporate world to lead sales and marketing for FINCA’s BrightLife program. Why? Because he was “motivated by the idea of bringing clean energy to tens of thousands of off-grid families” and “to build pathways for these families toward financial inclusion.”

30 2018 FINCA INTERNATIONAL ANNUAL REPORT Photo: FINCA Staff Rodham and Mary Tulloss in Steven Weinberg and Harriet Woods memory of Sarah Elizabeth Tulloss Georganne Ferrier Anna Wooldridge Gayle Turner David and Patricia Weissner Susan Work Patricia and John Turner Juliette Welch James Worth Jane Tuttle Linden Welch Phyllis Yale and Tucker Taft Karen Uhlenbeck and R. Williams Virginia Wellman Ruth Yeazell Kathleen and Stephen Updegrove John Wells Kathy Yoselson Fierce Charles and Catherine F. Vaaler Valerie Wendling Determination Fund Tammy Van Veen Betty Lingle West Fund Grace and Paul Young Peter Vander Arend Martha West-Edwards Eric Yuan and Zandria Sia John and Verna Vander Kooi William and Mandy Westerkam Kuan Yuan Martin Vanderwaak Charles Wheatley and Joyce Zaitlin* Kimberly Reeves Marian Van-Nierop Colleen Zakrewsky Robert Wheatley Ramakanta Velagala Elizabeth Zander Clifford and Deborah White Gregory Vesper Irka Zazulak Elizabeth White Carl Vinson George Zbiegien Sharyl White Milton and Judith Viorst Seymour Zemlyn Michael Whitehill Carol Voorhees Ed Zerylnick William Whitelaw Marcia and Ira Wagner Adam and Diana Zlotnick William Whiting John and Kimberly Waldron Virginia Zwaagstra Paul and Shelley Whyte Alan Walker Henry Wieman Brooke Walker Corporations Harold Wiggers Edward Wallace Adobe Systems Incorporated Stephen and Margaret Wilcox Catherine Walling AmazonSmile Jim Willetts* Nancy Walsh Ameriprise Financial Services, Inc. Ann Williams William Warburton and Apple Sandra Venning Anna-leila Williams Aptic Elizabeth Warren Robert Williams Bank of America Philo Wasburn Janet Willis Cadwallader Design, Inc. Nancy Wasserman Aletta Wilson Cereal Ingredients, Inc. John Watkins and Allison Howard Don Wilson Clifford Chance Kristi Watterberg and Ronald Poland Joyce Wilson CNA Insurance Companies Inc. Thomas Weakley Paul Wilson and Mary Donchez Covington & Burling LLP Catherine Weaver Roger Wilson Credit Suisse Global Fellows Dianne Weaver Jennifer Wise D2internationalDentons US LLP William Webber Nancy and Stewart Witt First Data Kenneth Weber Priscilla Witt Fox Rothschild LLP Rick Weber Karen Wohlgemuth GE Everton Weeks Jean Wolf Google Peter and Michelle Weeks Susan Wolf Great Plains Analytical Laboratory, Inc. Susen Wehner Chad Wolfond Gull Group Inc Joel Weigand Holly Wood Hengeler Mueller Peter Weiland Joann Wood ImpactAssets, Inc. Cindy Weinbaum and Linda Wood J.J.B. Hilliard, W.L. Lyons, LLC Mark Prausnitz Christine Wooddell

*denotes deceased GROWING OUR IMPACT 31 Johnson & Johnson Government and The Domenico Paulon Kimberly Clark Multi-Lateral Donors Foundation, Inc. Kirkland & Ellis The Edward and Mildred Cafritz aBi Trust Family Foundation Latham & Watkins European Investment Bank The Franklin Conklin Foundation Media Music Corp Financial Sector The Fund for Community Well-Being Microsoft Deepening Uganda The Miami Foundation Orrick IFAD The Nararo Foundation Pfizer REGMIFA Technical The Patriot Foundation Prudential Assistance Facility The Rhode Islannd Community Right Angles Rural Finance Expansion Programme (RUFEP) Foundations Sharkawy & Sarhan United Nations Capital The Signify Foundation Thomson Reuters Foundation Development Fund US Charitable Gift Trust United Health Group United States Agency for Visa Givingstation International Development Future Makers Circle ENGINE World Bank Community * Connections Fund United States Agency for Caroline Adams International Development Catherine H. Anderson* Yatai Food Cart PACE Terry Andrews Mr. Alan Appleford Private Voluntary Foundations and Faith-Based David Bard Organizations El-Genk Charitable Fund Belinda K. Barington Aspen Community Foundation Deborah Barto Bay Area Unitarian Universalist Church Burlingame Foundation Marilyn and Richard Batchelder, Sr. Bethany Community / Comic Relief Annemarie S. Bein Ladies of Bethany Cultures of Resistance Network Dorothy Benavides Foundation Church of Religious Science Michael and Sompson Betz Directions For Rural Action Fund First Congregational Church Audrey Beukenkamp Financial Inclusion on Business First Presbyterian Church Judith Billings of Kerrville Runways (FIBR) Elizabeth Bolotin First Unitarian Church of Greater Kansas City Community Oklahoma City Foundation Joseph and Susan Bower Mindful Movement Collective Human Rights Project Inc. Rick Browne Montgomery United InFaith Community Foundation Steven and Nancy Bruckner Methodist Church InMaat Foundation Sally and Leonard Burdock New Melleray Abbey International Executive Service Kenneth Burrows Corp (IESC) Pastoral Ministries at Joseph Bursel Brooksby Village Jewish Foundation of Greater Deborah Bush St. Edith Church Toronto James Caffery The International Alliance Karandaaz Pakistan for Women Living Spring Foundation Carolyn Carlat Unitarian Universalist Church Maine Community Foundation Melanie Chadwick of Elgin MMSL Charitable Foundation Janice and Thomas Chamberlin United Methodist Women The Peter Gilgan Foundation Heather Chisholm-Chait West Shore Unitarian Pittsburgh Childrens Foundation Tim Clauss Universalist Church Strategic Charitable Giving Thomas and Kim Cody Women International Foundation Leaders of Greater Kay Cooper Philadelphia The Community Foundation Of Estelle Craig* Santa Cruz County

32 2018 FINCA INTERNATIONAL ANNUAL REPORT *denotes deceased Barbara Crook Karen Krick Tracie Rowson Norma Crouch* Mrs. Rosemary B. Kuehne Christie Sanders Don Dietz James and Leslea Kunz Lynne Schreiber Kathryn DiGiorgio Jeffrey M. Lalande Lorraine O’Hara and Rupert Scofield Raymond Dobkin Geraldine Leder* Catherine Scott Ms. Susan Dodd Margaret and Clarence Leinbach Patricia Serio Norman Dudziak and Damaris James Licata Mary Ann Sestili Rohsenow Deborah Litzenburg Carrie Shearer Jean and Richard Eckert Rosemary and David Logan Wanda Shirk Nancie and Mauritz Erhard John Lucken* Diane Short Joen Fagan Richard Lundy and John Shugars Jo Ann Field Lucille Goodwyne Nancy Sienknecht David and Debra Gardner B.R. Marchand Raymond Sinetar* Emily Garlin Sherri McAlindon Rhea Singsen Arlee Geary Jeannine McCormick Nancy Sloss* Madelaine Georgette Louise Michlin Mark Smith Jack Goggin Darlene Mikula Nancy D. Solomon Steve Goldstein Lisa Miller Faye and Robert Spencer Margaret Gossage Terri Mockler Ruth Stahl James Grabill Peggy Moore Keith Stanley Edmund and Arlene Grossman Peter and Christine Mullen Mary Steele John Gustin Delano and Luzetta Newkirk Sheila Stiles Lindy Guttman and Bob Stromberg Peter Newman and Kathy Lang Rebecca Thomas and John Pitlick Doris Haggard Marsha and William Nickels Susie and Bill Thorness Natalie Hall Liz Northrop and Jim Arthur Roger Tiemann Charles Hall John and Margaret Parke Ann Tiernan Nancy and Robert W. Hatch Sandra Perkins and Linda Van Buren Jeffrey Ochsner Marian and Robert Hatch, Jr. Robin Velte Maryjude Hoeffel Merrie Petteys and William Campbell M. Dorothee and John Hoffman Hugo Verdaasdonk-Huwel Sally Pierson Carol Hollworth Barbara Wade Katie and Michael Place Thomas Hooley Mark Wales Junius Powell Katherine Hufnagel Thomas and Barbara Weakley Denise Price Brian Hughes John Weiss, in memory of Ellen Weiss William N. Raiford Cynthia Hurd Karen and Stephen Wiel Linda and Ahmed Raiss Mona Jibril Priscilla and Rodney E. Wilson John Rau Keith Johnson Nance Wilson and Clifton Schor Alfred and Connie Remetch Doresa Jones Maxine Wolf Victoria Repen Kathy Kaiser Julia Wood Anna Louise Reynolds Ann Kempees Josephine Woodman Phillip Richman Edward and Rachelle Keyserlingk James and Carole Wortley Michele Risa Christine Keyt Lucy Wyatt and John Mattinen F. Bruce and Nancy Roberts William and Martha Kilgour Colston Young Nancy Romanoff* James and Janet Kimble Jan Zlotnick Sara Rothmuller Douglas Kleinsmith

Photo (back cover): Alison Wright GROWING OUR IMPACT 33 FINCA.org | FINCACanada.org | FINCAUK.org

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