Creating Ripples 2016 FINCA INTERNATIONAL ANNUAL REPORT 2016 FINCA International Annual Report

1 Founder’s Letter

2 Letter from the Chairman and the President

4 The Year in Review

6 FINCA’s Programs

6

12 Social Enterprise

14 Research

17 FINCA’s Leadership

18 2016 FINCA International Financial Summary

19 2016 Consolidated Statement of Activities

20 FINCA’s Partners

21 FINCA’s Supporters

37 Ways to Support

Copyright 2017 FINCA International, Inc. Photos: Cover—FINCA Staff; above—Carlos Alaniz CREATING RIPPLES

Founder‘s Letter

Dear Friends:

As many of you know, on October 31, 2016, my soulmate and wife of 28 years—Marguerite, or “Mimi”—lost her battle with cancer. She died at home, peacefully, surrounded by family and her closest friends. Mimi was a citizen activist her whole adult life and the godmother of FINCA, and I know it was her fondest wish that I remain strong, stay on-mission and continue to advocate for the end of extreme poverty by the year 2030—a goal that is being advocated by the World Bank itself. To reach that goal, we will need low-cost, fast-replicating projects that can reach the world’s remaining 200 million ultra-poor families.

In May of this year, once Mimi’s affairs were settled, movements. Savings groups are forming in the I visited FINCA’s programs in . And what I most remote and poorest areas. They are managed discovered there were two of the most exciting end- by their members, who collect savings every week, poverty innovations I have witnessed since launching store these funds in a lockbox and re-lend the FINCA Village BankingTM 32 years ago. I’m so proud savings at interest to members. Once a year, interest that FINCA has made the strategic decision to reach is distributed back to members. I was blown away even lower, toward the bottom of the pyramid. by the fact that Uganda’s SG movement, which has 1.5 million members and represents some 60,000 In Uganda I visited BrightLife, which provides poor peri-urban and rural villages, is now the largest SG Ugandan families with access to clean cookstoves movement in and has 11% of all savings group and solar lamps. The cookstoves are reducing fuel members in the world. costs by 50% for low-income families! The solar- powered lamps are replacing kerosene lanterns that At FINCA’s recent board meeting, I made a challenge give off toxic fumes and, if knocked over, can kill a grant of $25,000 to support FINCA’s efforts in these child or burn a house. We met with Monica Mulondo, two exciting pro-poorest program initiatives, and a widowed mother of four, who uses a solar lamp asked all other FINCA board members to match my to help her children study in the evening. She also contribution. My hope is that many of our long-term, obtained a clean cookstove and saves about $4 loyal supporters will respond to this challenge grant USD a month in fuel costs. She was especially as well. I call it “The Mimi Project”! excited about the innovative product and told us, “The cookstove is the best invention yet!” We’ve got a massive challenge ahead of us and we have to act quickly. In the iconic words from the The second FINCA program initiative I visited is John Wayne movie “The Cowboys,” “Let’s go! We’re designed to provide secure credit, savings and fund burning daylight!” management support services to “savings groups” (SGs), one of the developing world’s fastest growing With love and gratitude,

John K. Hatch Founder

June 30, 2017 John K. Hatch, Founder

CREATING RIPPLES 1 A MESSAGE FROM LEADERSHIP

Letter from the Chairman and the President

Dear Supporters,

FINCA has been a force for economic inclusion for the poor for over three decades. Women and men living in some of the world’s most challenging economies have long been unbanked, without access to the basic financial tools that enable real progress toward better lives. FINCA’s microfinance programs have created sustainable impact and solutions for individual, family and community prosperity.

But experience has shown that FINCA’s impact With your support, we have created these ripples does not end with a small loan. Each loan is just together. Now, we are committed to expanding our the beginning of economic participation for social impact by creating ripples of a different kind. women, the economically disenfranchised and Low-income communities not only need access to people living in remote, rural villages. When a financial services, but they have a right to affordable family’s income rises, it means that children can and innovative solutions, like clean cookstoves, stay in school, not simply to become literate, but water filters and solar lanterns, that save them time to become skilled laborers, teachers, physicians and money and make them healthier, more resilient or the next generation of business owners. and empowered. In 2016, we helped thousands in Uganda achieve a better quality of life by providing FINCA clients point proudly to these children, them access to these household solutions. who not only change their families when they grow up, but change the future of communities Despite our achievements, 2016 was a challenging and, in fact, can change the course of countries. year for FINCA. Part of the risk inherent in working in emerging markets is navigating political and Together, FINCA and our loan recipients are a economic uncertainties, and this year saw no part of something astounding. We are bettering shortage of them. Economic hardship in , communities around the world and breaking in particular, and the rest of , related to down the historical and vicious cycle of fallen oil prices and currency devaluations in 2015, intergenerational poverty. continued to make life challenging for many micro and small enterprises in that region. We took Each loan creates ripples of impact. The ripples significant losses there in 2016 as a result. FINCA extend from the Haitian mother’s small loan has weathered such situations before and we can that allowed her to grow her small business, to confidently say that we have come through the the villagers who work for that business, to her worst of it. More than anything, this reinforces daughter who can now afford to go past high why people in challenging places need us, and school and into a local college, to the community why we must redouble our efforts to keep that benefits from the more prosperous business reaching those who are overlooked or forgotten and family. by mainstream banks.

2 2016 FINCA INTERNATIONAL ANNUAL REPORT We also must continue to focus our resources where we can have “At FINCA, each ripple the greatest impact. As part of this effort, in 2016 we transferred our FINCA subsidiaries in El Salvador and Mexico to local, mission- represents the start driven organizations that share our commitment to delivering responsible financial services. For our hardworking staff and clients of a brighter future. in these countries, this is an opportunity to continue to grow under local leadership with companies that are also striving to To create more ripples, reach low-income women and men. These changes have also we need more stones. helped FINCA to invest in innovative new solutions and scale up in communities and markets where we can reach more people. We need you.”

Your role in bringing responsible financial services and other smart solutions to the poor is more crucial than ever. Donor support is the reason FINCA exists. Your trust in us has created the building blocks for growth and innovation. With that in mind, we ask you two simple questions: What will it take to create more ripples? What will it take to multiply the ripple effect across more communities for more people and more generations?

In any pond, a new ripple starts with dropping the first stone. At FINCA, each ripple represents the start of a brighter future. To increase impact, we must create more ripples. To create Robert W. Hatch, Chairman more ripples, we need more stones. We need you.

Together, we can alleviate poverty through lasting solutions that help people achieve self-reliance and change the future for generations to come.

Robert W. Hatch Rupert W. Scofield Chairman President Rupert W. Scofield, President

June 30, 2017

2016 at a Glance

1,622,867 $262.3 million $1.1 billion TOTAL CLIENTS TOTAL SAVINGS DEPOSITED TOTAL LOANS DISBURSED

CREATING RIPPLES 3 HIGHLIGHTS FROM 2016

The Year in Review

From to to , together we made many ripples around the world in 2016. These milestones spotlight our continued commitment to reaching more and more unserved populations with the innovative tools, services and products they need to build better lives.

JANUARY MAY FINCA , one of FINCA’s MARCH FINCA expanded its reach in longest operating subsidiaries, In honor of International by launching agency celebrated 22 years of service. Women’s Day, more than banking, allowing Nigerians who More than 25,000 low-income 200 people joined FINCA in live far from a branch to access Ecuadorians accessed loans and Washington, D.C., for a discussion financial services through agents other financial services in 2016. of entrepreneurship and the equipped with point-of-sale gender gap. See page 14. machines in their local shops. Ingenico Group partnered with FINCA to deploy 50,000 FINCA celebrated Global First Access and FINCA biometric payment terminals Money Week. FINCA staff in announced a partnership to in Africa. The terminals securely several countries, including create the world’s largest capture clients’ fingerprints to Kyrgyzstan and , taught alternative credit-scoring validate their identities prior to young children and teenagers program by a microfinance loan disbursement. the basics of financial literacy institution, enabling FINCA and the importance of saving. to process loans quicker and more efficiently.

FEBRUARY Suzan Al Omari and Nadia Mohammed Marian, two FINCA clients in , APRIL won Citibank Microentrepreneurship After a devastating earthquake hit Ecuador Awards, recognizing their contributions in April 2016, there were significant damages to to community development and building our clients’ businesses in the Portoviejo region. thriving businesses. For clients affected by the earthquake,FINCA provided a three-month grace period on loan repayments and helped to facilitate over $200,000 in insurance payouts.

4 2016 FINCA INTERNATIONAL ANNUAL REPORT AUGUST DECEMBER FINCA Guatemala FINCA received partnered with the Smart Certification JUNE Entrepreneurial OCTOBER in recognition of its FINCA Azerbaijan Finance Laboratory After Hurricane strong client protection launched a prepaid (EFL) to pilot test Matthew hit , policies. See page 8. card as an alternative psychometric credit FINCA donors credit disbursement scoring. EFL uses contributed more In 2016, poor families in tool. The prepaid card alternative data such than $50,000 for an Uganda received over can conveniently be as psychometrics, Emergency Recovery 6,500 solar lanterns used at shopping and digital footprints and Fund to help affected and clean cookstoves service centers to cellphone usage FINCA clients rebuild through FINCA’s social perform transactions. information to assess their businesses. See enterprise, BrightLife. clients’ repayment page 28. See page 12. risk profile.

JULY SEPTEMBER NOVEMBER FINCA , one of the largest FINCA Democratic Republic subsidiaries in the FINCA network, of Congo reached a new FINCA launched an reached 100,000 borrowers. milestone—over 74% of interactive financial literacy book its transactions were done for children that covers topics such In recognition of its use of through agent banking. as savings, business skills and finance. biometric banking technology Clients bank through local The book has been shared with over to reach the unbanked in the merchants, making it more 25,000 children. See page 9. country, FINCA Zambia was convenient to pay loans awarded the Governor’s and receive funds. Award for Innovation.

Photo: Carlos Alaniz CREATING RIPPLES 5 FINCA’S PROGRAMS: MICROFINANCE

Financing Brighter Futures

FINCA’s microfinance program—FINCA Impact Finance—is a network of 21 microfinance institutions and banks that provide responsible financial services that enable low-income entrepreneurs and small business owners to invest in their future.

As a pioneer in delivering loans and offering savings and other financial services in some of the most remote markets in the world, FINCA empowers people to start their own businesses, create jobs and improve their quality of life.

Number of people who have been touched by FINCA 39 MILLION since 1985, including clients and their families.

Financial Products and Services

Group loans: Village Banking™ and Insurance: Credit, disability, medical and small group loans are targeted to very funeral insurance help reduce the financial low-income entrepreneurs with the stress of meeting major or unexpected smallest enterprises. expenses.

Individual loans: Larger loan sizes and Money transfers: FINCA clients have a safe more flexible terms help entrepreneurs and affordable way to receive and send continue to grow their businesses and money for business and personal purposes, generate jobs. giving them more free time to spend on their growing businesses. Agricultural loans: These loans allow rural clients to purchase seeds, fertilizer, Energy loans: Clients can purchase or lease livestock and equipment when they are clean electricity systems or products for use needed and repay the principal when at home or to improve their small businesses. the harvest comes in. The systems also improve health and safety by eliminating the use of kerosene or charcoal. Savings accounts: Savings help clients build a cushion against hard times. They can also serve as a nest egg for education, medical care, major life milestones, old age, business expansion and other long-term goals.

6 2016 FINCA INTERNATIONAL ANNUAL REPORT “I want [my children] to have a better life, better employment and a better lifestyle.”

HARRIET TIZITTA, UGANDA

A Mother’s Life-Changing Ripples

Harriet Tizitta has changed her and her children’s lives, one vegetable at a time. The mother of four lives in Kampala, Uganda, and started a business selling onions in her local market. However, Harriet could only afford to purchase a sack or two of vegetables at a time for her small business.

With a FINCA loan, she increased her stock of vegetables and slowly her business began to grow. Today, Harriet has her own grocery shop and is also planning to build a house to rent out.

“I don’t want my children to go to the market to sell onions like I’ve done before. I want them to have a better life, better employment and a better lifestyle.”

Thanks to her increased profits, Harriet could afford the school fees for her four children. Her daughter, Denise, is studying to become a doctor. She knows that without the hard work her mother puts in every day at her business, she wouldn’t be able to pursue her dream.

“FINCA has helped my mom a lot,” Denise says. “And it has helped me a lot. I couldn’t be where I am today if it wasn’t for FINCA.”

Photo: David Soll CREATING RIPPLES 7 FINCA’S PROGRAMS: MICROFINANCE

People Matter

Nothing matters more to us at FINCA than the well-being of our clients. Smart Campaign’s Seven Every FINCA subsidiary has strict internal standards Client Protection Principles and policies to ensure that clients do not become over-indebted and are treated fairly and ethically. 1.  Appropriate product design Since 2014, six FINCA subsidiaries have been and delivery recognized for their deep commitment to high ethical standards of client protection. Azerbaijan, 2. Prevention of over-indebtedness Georgia, Kosovo, Kyrgyzstan, and Pakistan 3. Transparency have received Client Protection Certifications from 4. Responsible pricing the Smart Campaign.* 5.  Fair and respectful treatment FINCA was one of the founders of the Smart of clients Campaign, a global effort to embed a set of client protection principles into the fabric of the 6. Privacy of client data microfinance industry. All FINCA subsidiaries have 7.  Mechanisms for complaint endorsed the campaign. Certification is awarded resolution to financial organizations that institutionalize the Smart Campaign’s seven Client Protection Principles.

*FINCA Pakistan and FINCA Nicaragua received their certifications in 2017. 8 2016 FINCA INTERNATIONAL ANNUAL REPORT Photo: Oz Koca Learning the ABCs of Finance

How can people make sound financial decisions if they don’t understand basic concepts in finance? At FINCA, we know it is not enough to provide access to loans, savings accounts and other financial services. We also must invest in improving our clients’ financial literacy so they can learn the importance of saving more.

Throughout our network, we train our clients on basic financial concepts when they borrow funds or open a savings account. In addition, many of our subsidiaries reach the broader communities they serve with critical financial literacy trainings.

In Tajikistan, for example, FINCA staff are educating women in the southwest part of the country, a region marked by high poverty. Through a joint program with Feed the Future Tajikistan, FINCA staff have provided trainings to women in the community, many of whom are poor housewives. These women have learned important financial concepts such as saving, managing expenses and maintaining the family budget.

In addition, many of our subsidiaries have extended their financial literacy trainings to youth and children. In 2016, FINCA Georgia launched an interactive financial literacy book for children that covers topics such as savings, business skills and finance. The book has been shared with over 25,000 children.

Photos (above and inset): FINCA Staff CREATING RIPPLES 9 FINCA’S PROGRAMS: MICROFINANCE

The Next Digital Revolution

Financial technology can revolutionize how billions of low-income people access needed financial services. Thanks to our partners and donors, FINCA is reaching more unbanked communities through easy-to-use, secure and low-cost technology solutions.

In 2016, over 31% of all transactions by FINCA clients were made through one of the financial disruptors described below. The clients who employ these solutions are now able to access capital, pay family expenses or save for their future, all without having to go to a FINCA branch or go through a time-consuming credit approval process.

Digitization

Agent banking: This innovative method Credit scoring: For many unbanked uses local merchants and shopkeepers in people, the lack of a credit score and formal areas where FINCA doesn’t have a presence borrowing history hinders the ability to to provide banking services to remote clients. access capital to grow businesses. In Africa We equip the agents with portable devices and , FINCA is testing alternative that connect to FINCA’s bank network and credit scoring derived from psychometric and bank accounts. mobile data.

Biometrics: Point-of-sale (POS) machines Mobile banking: FINCA is committed to utilizing fingerprint scans allow clients to reaching more unserved populations with access their accounts safely, giving them mobile banking and mobile money apps, security and control over their money. helping low-income women and men save time and make secure transactions anytime and anywhere.

Bridging the Gender Gap

IFC, a philanthropic partner of FINCA, examined whether there was any difference between female and male banking agents in two areas: as business owners and as banking agents. A small study focused on FINCA’s banking agents in the Democratic Republic of Congo in 2016. Agent banking uses a network of local merchants and shopkeepers in areas where FINCA doesn’t have a bank branch. The agents are equipped with POS machines, portable devices that connect to bank accounts through biometric fingerprints.

Surveying over 140 women, the researchers found that despite having overall lower-priced products and services to sell, female business owners had a higher sales volume and brought in 16% higher net weekly profits than men. According to the report, as agents, “women do a better, more efficient job compared to men. Not only do female agents transfer higher volumes per FINCA transaction, they also, on average, report 12% more FINCA transactions per month than male agents.”

10 2016 FINCA INTERNATIONAL ANNUAL REPORT Through his business income and the commission he earns as a FINCA agent, Spy makes enough money to support his wife and their five children...

OLIVER ‘SPY’ KAMWENDO,

An Agent of Change

At his flourishing auto parts business in the heart convenient location allowed FINCA Malawi staff of a commercial district in Blantyre, Malawi, to assist our clients in the transition process, until Oliver ‘Spy’ Kamwendo spends his days tending they became comfortable banking with an agent to his customers. The store is just around the and using the biometric POS machines. corner from the busy FINCA Henderson Street branch, a perfect location for FINCA Malawi to Through his business income and the try agency banking with our clients. In fact, Spy commission he earns as a FINCA agent, Spy became FINCA Malawi’s first banking agent. makes enough money to support his wife and their five children, sending them to the best FINCA’s banking agents are key to achieving schools possible. He sees his partnership with financial inclusion in Malawi. Agents help clients FINCA as “an opportunity for my business to who live far from a bank branch to conduct grow and gain more recognition.” transactions securely and conveniently. Our trusted banking agents, like Spy, are making Spy was an ideal first agent for FINCA Malawi. Our ripples for FINCA: They grow their own businesses clients need time to develop trust in transacting while helping others in their community improve through a third party and digitally. His store’s their lives by accessing FINCA’s financial services.

Photo: David Soll CREATING RIPPLES 11 FINCA’S PROGRAMS: SOCIAL ENTERPRISE

Brightening Thousands of Lives

The light switch on the wall. The clean water coming out of the sink tap. The electric stove in the kitchen. These are things we take for granted. But there are millions of low-income people with no access to these basic necessities. FINCA is working to change this.

FINCA created BrightLife, a Ugandan company whose goal is to increase access to innovative, life-improving solutions in under- and unserved markets that are difficult to reach and uneconomical to serve.

These solutions include solar lanterns with phone-charging capability and fuel-efficient cookstoves requiring less wood to produce the same amount of heat, reducing harmful emissions. They reduce the time mothers and girls have to spend cooking over an open fire, allowing them to devote more of their time to other productive activities.

We are also educating families on how to use these innovative products in their homes and experimenting with new ways to purchase these devices on credit.

In 2016, over 6,500 solar lanterns and clean cookstoves were distributed to poor families in Uganda, helping thousands of mothers, fathers and 6,500 children live better lives.

Cooking a New Solution

In 2016, our first Social Enterprise Collider investment was in Biolite, a company that makes fuel-efficient cookstoves for poor households without access to electricity. These clean cookstoves cut toxic emissions by 90% and reduce wood use by 50%. FINCA distributes these innovative devices through BrightLife, our newest program that increases access to affordable, life- improving solutions and products. Using Biolite cookstoves can save our clients more than 10 hours per week and several hundred dollars per year.

12 2016 FINCA INTERNATIONAL ANNUAL REPORT Photo: David Soll Raising the Bar for Social Enterprises

The Social Enterprise Collider is a platform that enables us to identify and invest in new social enterprises developing innovative solutions to some of our world’s most pressing challenges.

Today, there is an incredibly rich ecosystem of FINCA created the Social Enterprise Collider social entrepreneurs who use market-based to accelerate the growth and success of these innovations to create high-quality products and promising social enterprises that align with services in the healthcare, energy, water and our mission. sanitation, and education sectors for people living on less than $5 a day. FINCA provides capital to these young companies that often do not yet qualify for financing or These entrepreneurs need capital and strategic equity investment from traditional investors. advice on how to succeed in some of the most We also give them the opportunity to test their challenging markets in the world. products with our BrightLife customers in Uganda, as well as provide business advice on how to bring their companies to scale.

Photo: David Soll CREATING RIPPLES 13 FINCA’S PROGRAMS: RESEARCH

Measuring Our Mission

FINCA believes that our success relies on listening to our clients and paying attention to their needs. With these guiding principles, FINCA manages a rigorous customer research program to ensure that clients have a voice in shaping our services and that our donors and investors can see the impact of our work.

FINCA representatives speak directly with our clients, posing straightforward questions about their families, households and businesses to ascertain the conditions in which they live and determine whether our products and services are moving the needle. We use the latest technology and strict research standards to ensure all data is accurate. The information we gather helps us to make decisions that expand access to our services by driving FINCA closer to those in need.

Since 2011, FINCA’s research team has been measuring our outcomes and ensuring our work has a lasting impact on the people we serve through a social performance research program. Key questions asked in this program include: Who are our clients? What are their living standards? Are they able to achieve their business goals? Below is a snapshot of the results from this program.

41% of our 29% of our clients 12% of our clients 27% of jobs created in our clients live in live in homes without live in homes clients’ businesses are directly rural areas. clean running water. without electricity. attributable to a FINCA loan.

Empowering Women Through Entrepreneurship

To mark International Women’s Day in March, 200 supporters and guests convened at FINCA’s Washington, D.C., headquarters for a conversation on how entrepreneurship can empower women to change their lives and the lives of their families, as well as their communities.

Speaking at the event, Andrée Simon, CEO of FINCA Impact Finance, said, “Investing in women is the fastest and smartest way to achieve positive global change. Given that the gender gap is as big as it is, we really do need to continue to promote that investment.”

14 2016 FINCA INTERNATIONAL ANNUAL REPORT Photo: FINCA Staff Creating Ripples for Women

For over 30 years, FINCA has focused our efforts on women, knowing that poverty disproportionately affects women and girls. We have also learned that empowering women has a ripple effect.

In an increasing number of families, the woman For example, on average, 45% of employees in provides a substantial portion—or all—of the our clients’ businesses in Africa are women. These family’s income. Women also invest in building women use their income to feed, clothe and their communities by hiring and training other educate their children. These children, then, are women, who can then help their families, and better prepared to take on the world, pursue so on. Recent research on our impact confirms their dreams and empower their own lives. this ripple effect.

Photo: Dawn Deeks CREATING RIPPLES 15 “I have used my profits to invest in the education of my five children, so they could all graduate.”

CONSUELO ESPERANZA RUEDA AGUILAR,

A One-Woman Conglomerate

In Choluteca, a bustling city in southern Consuelo’s enterprising ideas have paid off. Honduras, 62-year old Consuelo Esperanza Rueda Aguilar is a one-woman conglomerate. “I have used my profits to invest in the education of my five children, so they could all graduate,” On her own for 18 years since her husband she says, noting with pride that two of them have died, Consuelo (above right) runs several college degrees. “And I have 11 grandchildren,” successful businesses that she has built with hard she says with a smile. “I used to live in the smaller work and by carefully investing her earnings. house next door to this one, but 10 years ago, I was able to buy this bigger house.” Walking the hot streets of Choluteca, Consuelo sells everything from cell phones to clothing to Beaming, Consuelo shows off a photo of the pots and pans. women of the San Francisco de Asís Village Bank with FINCA’s President Rupert Scofield, taken in But that’s not all. Working with her daughter, 1994 during a celebration of the fifth anniversary Consuelo takes food orders during the week and of FINCA Honduras. “We were very proud, since delivers them on Sunday. In addition, she has we had the best Village Bank in Honduras. FINCA started a taxi business. “I bought a used car said we were an example for the entire country.” and the taxi permit from the city, then I hired a driver,” she explains. “He makes his money And Consuelo herself is an example for us all. after paying for gas and repairs, then pays me 400 lempira (about $17) a day to rent the car and the permit.”

16 2016 FINCA INTERNATIONAL ANNUAL REPORT Photo: Dawn Deeks DIRECTORS, ADVISORS AND MANAGEMENT*

FINCA‘s Leadership*

FINCA International Senior Management FINCA Canada Rupert W. Scofield, Board of Directors FINCA Canada is a charity President Robert W. Hatch registered with the Canada Allison Scuriatti, (Chairman, Founding Member) Revenue Agency (Business Executive Director Number 80568 6144 RR00001). John K. Hatch Ami Dalal, (Founding Member) Board of Directors Vice President of Social Rupert W. Scofield Enterprise Innovation Rupert W. Scofield (Chairman) (Founding Member) Soledad Gompf, Fred Di Blasio Richard M. Williamson Senior Vice President and Soledad Gompf (Founding Member) Philanthropy Advisor Jacquie Green John Elkins Scott Graham, Michael Green Amanda Ellis Director of Research and Allison Scuriatti Peter Epp New Business Initiatives Linda Wolfond Harold D. Jastram Franca Rofe, Vice President, Human Resources Agrina Mussa Senior Management Jeffrey Smith, James Semakadde Stephanie Emond Vice President, Chief Audit and Dr. Fred Seymour Risk Officer FINCA United Kingdom Charles Trevail P. Dan Smith, David E. Weisman Assistant Corporate Secretary FINCA UK is the working name of Her Majesty Queen Debra Spagnola, The Foundation for International Rania Al-Abdullah of Jordan Chief Financial Officer Community Assistance (UK), a company limited by guarantee Director Emeritus Colleen Zakrewsky, under company number Chief Development Officer Advisory Board 06717649. FINCA UK is a registered charity in England Margaret S. Blakey and Wales under registration Eugene P. Ericksen number 1127778. Angéline Fournier Board of Directors Robert Graham Rupert W. Scofield (Chairman) John Hatch Jr. Dane Steven McGuire Kristin G. Hatch Federico Pirzio-Biroli Aleen Keshishian Damien Tanner Charles Loveless Mahdi Yahya Rebecca Minkoff Rosalie Swedlin Colston Young

*As of June 1, 2017 CREATING RIPPLES 17 FINCA INTERNATIONAL

2016 FINCA International Financial Summary

2016 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 our microfinance operations in 21 countries as well as from grants and donations needed to help fund our work.

4% 1% 8% 4% 2% 1%

2016 2016 EXPENSES REVENUE

95% 85%

Total 2016 Expenses: $337,590,234 Total 2016 Revenue: $339,380,282

Program services 95% Cash grants, donations 4% Fundraising 1% Services, gifts in kind 1% General and administrative 4% Program, interest income 85% Grants, contracts, including federal govt. 2% Fees and other program income 8%

FINCA International’s financial statements on pages 18 and 19 were independently audited by Deloitte & Touche LLP and prepared according to the United States Generally Accepted Accounting Principles (GAAP). Copies of the audited financial statements are available on our website at FINCA.org/who-we-are/financials.

18 2016 FINCA INTERNATIONAL ANNUAL REPORT Source: 2016 Audited Financial Statements FINCA INTERNATIONAL

2016 Consolidated Statement of Activities*

2016 2015 Operating Revenues Contributions: Corporate, foundation, and individual giving $12,668,899 $12,650,593 Services and gifts in kind 2,953,678 3,512,786 Programs: Interest income 287,783,222 354,910,230 Grants and contracts, including federal government 6,874,920 11,255,153 Fees and other program income 29,099,563 15,530,017 Total operating revenues 339,380,282 397,858,779 Operating Expenses Program services 320,561,259 374,234,427 Fundraising 3,324,335 3,691,502 General and administrative 13,704,640 12,903,274 Total operating expenses 337,590,234 390,829,203

Income tax expense 17,562,140 9,391,977 CHANGE IN NET ASSETS BEFORE NONOPERATING ITEMS (15,772,092) (2,362,401) Nonoperating expense 2,229,907 — Investment and foreign exchange (loss) gain (2,543,366) 25,281,084 Pension-related changes other than net periodic benefit cost gain 187,179 634,253 Translation gains (losses) of foreign operations 2,103,521 (76,206,217) Fair value reserve revaluation 141,448 (41,937) CHANGE IN NET ASSETS FROM CONTINUING (18,113,217) (52,692,218) OPERATIONS AND BEFORE NONCONTROLLING INTEREST Loss from discontinued operations (513,989) (1,055,958) Dividends to noncontrolling interest (161,000) — Issuance of FMH interest to noncontrolling shareholders — 148,000 CHANGE IN NET ASSETS (18,788,206) (53,600,176) NET ASSETS—beginning of year 243,814,334 297,414,510 NET ASSETS—end of year $225,026,128 $243,814,334

*Full copies of the Audited Financial Statements are available at www.FINCA.org. CREATING RIPPLES 19 PRIVATE AND PUBLIC SECTOR PARTNERS

FINCA‘s Partners

FINCA International is grateful for our diverse partners who share our commitment to building brighter futures. Together we can make a lasting impact and expand opportunity to those who need it the most.

Private Sector Philanthropic Partners Public Sector Partners

Clifford Chance Foundation, Inc. FMO Credit Suisse Financial Sector Deepening Trust Uganda Ford Foundation International Finance Corporation MasterCard Foundation United Nations Capital Development Fund MasterCard Worldwide United States Department of Agriculture Microsoft Swiss Capacity Building Facility United Methodist Committee on Relief Whole Planet Foundation WildHearts

20 2016 FINCA INTERNATIONAL ANNUAL REPORT Photo: FINCA Staff OUR SUPPORTERS FUEL OUR MISSION

FINCA‘s Supporters

FINCA International extends deep gratitude to our contributors, who have strengthened our mission and expanded our reach in 2016. While we are not able to acknowledge all donors on the following pages, on behalf of over 1.6 million FINCA clients worldwide, please accept our sincere thanks.

$100,000 and above $10,000-$24,999 David Weisman and Jacqueline Michel Lynne Altwerger* Anonymous (8) Emily Williams Mary Brendle* Eric and Cindy Arbanovella Edward and Barbara Wilson Irene Chayes* Ray Benton Family Fund Ryan Wise and Leslie Brunner The Hershey Family Foundation Donna Brown Linda and Greg Wolfond The Osprey Foundation Susan Okie Bush of Maryland Karen Wright and Tom Rastin Janan and Alan Carter Constance Vanvig* Cary and Lynn Yeh Norma Crouch Beth DeWoody $50,000-$99,999 $5,000-$9,999 Fay Dresner Anonymous (10) Anonymous Dume Wolverine Foundation Laurie Adams Nancy and Robert W. Hatch Bert and Candace Forbes * Kent Bach Dora Myers Lynn Gordon and David E. Phyllis Bischof Alexander Templeton Simon Fund Allen and Viola Boutte Jacquie and Michael Green * Shirley Brandman and $25,000-$49,999 Bette Jo Greenberger Howard Shapiro J. Keith Behner and William and Barbara Guensche Mary Ann and Gary Brownell Catherine Stiefel Linda and Austin Hayward Steven Bruckner Estelle Craig InMaat Foundation David and Barbara Burns Fred Di Blasio and Lana Parrilla Justin and Beverly Johl Joan Carlson John and Terry Elkins Lynn and Jeffrey Johnson Pearl and Paul Caslow Foundation * Emily Grimes Patricia Kealey Eric Chern * Constance Holcombe Eugene Lewis* James and Eithne Chuchel * Marie Kellogg Torben Lorenzen Clifford Family Foundation Ruth and David Levine Karen Nystrom Judith Collins Charitable Fund Eileen and Robert O’Leary Cook Callender Sayeed Foundation Gerard McLarnon Ostara Foundation Emmanuel Crabbé and Kathryn and T. Douglas Kerry Reinertsen McQuade Archie and Lynne Palmer Stuart and Ann Culver Laura McVicker* Rosalie Swedlin and Robert Cort Larry and Joyce Dare Diana Moore Foundation The Allen and Marion Martha Davis Renaissance Charitable Lambert Fund Foundation, Inc. The Leibowitz and Greenway Jeffrey Dennis Spurlino Foundation Family Charitable Foundation Richard Divinski Damien Tanner The Seattle Foundation Helen Elahi * Charles Trevail H. van Ameringen Foundation Geraldine Ellerbrock Donald Williams* Melanie and Adam Waldman Peter Epp

*denotes deceased CREATING RIPPLES 21 $5,000-$9,999 continued John O’Brien Walter Brissenden Meryl Faulkner Elizabeth Paynter Edward and Rozann Brittain Richard Fink Nicholas and Rita Petraglia John and Alice Burgess Richard Fisher M. G. Pfister Samuel Burr and Eugenie Doyle Nancy and Larry Fitzgerald Jim Price Mary Callahan Cameron and Diane Fowler William H. Prusoff Foundation Wes Callender and Patricia Davis Franklin Conklin Foundation Larry Rail Fleurette Carleen Rebecca Frederick and Linda and Ahmed Raiss Susan Chinn Trina Tjersland Judith Ring Megan Contakes Jon and Jeannette French Lorraine Robertson Raymond Jervis Cooke Marianne Gabel and Rita Rodriguez and Eugene Carter Terrill Corley Donald Lateiner Ruth Rollins Robyn Daly Madelaine Georgette Doris Roskin Sandra Davidson Mary and John Grant Foundation Alex Roudi Andres deLuna Timothy and Amy Guth Miriam Sayeed Ron and Else Marie DePauw Barbara Haroldson Fred and Marggi Seymour Mark Dexter and Deborah Cowley Rosita Hiscox Gary and Margaret Smith Katharine and Mark Dickson Sue and Ralph Hoevelman Tana Sommer-Belin Deborah Diebold De Naveja * Gisela Horejsi Helen Squires Catherine Doll Robert Hulter and Margaret Diane Staves David J. DuPont Turney-Hulter Margaret Sturges and East Bay Community Foundation International Alliance for Women Lincoln Draper Jean Faddis Brenda Johnson John and Susan Tappeiner Paul Farley Celeste Johnson The Warren and Deb Fisher Evelyn Ferguson Audrey and Paul Jolly Charitable Fund Victoria Fertitta Roland Karlen* The Elsie Procter van Buren Spencer Finch Dorothy Keddie Foundation Alan Finnis Tom and Heather Keenan The Maureen Sullivan Fund Walter and K. J. Fortney Kirsten and Daniel Kinney Venner Family Foundation Fraydun Foundation Inc. Ernest and Karen Koenig Margaret Watkins A. H. Gage Private Foundation Wayne and Karen Lattuca Marcia Weber and James Flaws Marion and Gerald Galison Thomas Lehrer Nancy Whitney Virginia Galvin Arthur Lipson and Rochelle Kaplan Richard and Kristen Williamson Helen and William Garrison Luschei Outermost Fund Mark and Katherine Young Charles and Patricia Geiger Mary and John Manley Bob and Eileen Gilman Rexmull and Doris Manyeto $2,500-$4,999 Family Foundation Beverley Martin Anonymous (9) Rolf and Julie Goetze Christine and Francis Martin Barbara Appell* Robert A. Granieri Thomas and Marilyn McLaughlin Jefferson Asher Frank Grobman Johan Melitz Kevin Ashton Donita Gross Jessica Meng Steven Atcheson John Hammond Jay Miller Russell and Carol Atha Leslie Harsch Rebecca Minkoff John Barber HCD Foundation Mouat Charitable Trust Elizabeth Bolotin Bonnie and Eric Helpenstell J. T. Murphy Joseph and Susan Bower Susan and Craig Hennessey Nararo Foundation Cynthia and Joel Bradley Ralph Herbert

22 2016 FINCA INTERNATIONAL ANNUAL REPORT *denotes deceased David Hermeyer and Laurie Manderino Rudy and Alice Ramsey Samuel Wantman Tim Martens Foundation Philip Hill Henry Maschler* Elizabeth Raymond Elizabeth Holden Carol McCallum and James Remnant Mark and Dyan Houghton Susan Sadowski Janet and Norvin Richards Sally House-Miller Rich Meehan Mary Richards Jeremy Hunt Hovland Sheevaun Moran Rebecca Ringer and William Cohon Ann Hunter Ellen Morrison Mary Romney Marietta Hurst Kenneth Mountcastle* Lynda Rose Audrey Irmas Paul and Patricia Murray Joseph and Veda Rugola Virginia Johnson Neskey Family Fund Barton Schmitt K.L.M. Foundation Douglas and Karin Newcomb Warren Schneider Kalan Foundation Roger Newton Scudder Family Foundation L. Knock Allen and Joan Niles Allison Scuriatti Martin Krippl Martha Nordsieck Shahriar and Nicole Shahida Beverly Krivokapich and Genaro and Carmen Novoa Alice Star Glenn Ducat Leslie O’Loughlin Cynthia Steckel Jose Latimer Olson Family Foundation Paige and Joshua Sternin Josef Leitmann and Niimi Reiko Leslie Petteys Al and Anne Stewart Luck Family Foundation Louise Plank Matthew Storms* Marianne Luedeking Elizabeth Pollack Rita Tablante Richard Lundy and Lucille Aaron and Arleen Priest Claude Thau Goodwyne Susan Prior The Gesher Family Foundation Marianne Lynch Joan Procopio The Susan, Sarah and Nicholas Mary MacGregor and Latremoille Fund Phil Lieberman

*denotes deceased Photo: David Stoll CREATING RIPPLES 23 $2,500-$4,999 continued Rick Adams Stephanie Augustyniak The Peter and Mary Russo Shirley Adams Roger and Ann Avery Family Foundation Mary Adderley Suzanne Bahmanyar Rebecca Thomas and John Pitlick Audrey Ades Bridget Baird James Tyler Susan Agate and Michael Slutsky Tricia Baird Carol Tyrrell Kyle Foundation Shelly Ahmann Arnold Baker Margot Unkel David Aikens Foster Bam Mark Verlinden George and Leslie Akst Armine Banfield Rebecca Villeda Barry Albano Shakir Banthanavasi Isidor Wachstein Mark Alberts Stephen Bany Margaret Wales Gregory Albright Philip and Daniele Barach Family Barbara Waller Noreen Albright Foundation John Watts and Carol Petsonk Sarah and Stephen Albright Paul Barbin Robert Wheatley Jennifer Alkema E. Bard Luke Whitesell and Bruce Allan Clarence Barker Catherine McLellan Beverly Allen Wayne and Karen Barnes Karen and Stephen Wiel Charles Almdale and Lillian Johnson Susan Barnett and John Young Henry Wieman Susan Almy Patrizia Barone Stephen and Margaret Wilcox Leif Ancker Antonio and Kimberly Barraco Anna-leila Williams Sally Anderson Rosemary Barrett and Howard Ulan * Josie Woodman Markus and Heidi Andres Elizabeth Barron Jody Zaitlin Robert Anthony Bassett Foundation Robert and Peggy Arfman Sara Batchelder $1,000-$2,499 John Armitage Dorothy Battles Christine Bauer Anonymous (110) Diane Armstrong Benjamin and Susan Baxt Marie Acosta Narra Asher Kimberly Beattie Gregory Adams and Jill Greenwald Nancy Atherton Iris Auerbacher Martin Bebow

TV Queen Supports FINCA

In September, Lana Parrilla, actress and star of the hit TV series Once Upon a Time, teamed up with FINCA. She sold over 5,000 limited edition “Long Live the Queen” t-shirts to her fans to benefit FINCA, raising $25,000 for our programs around the world.

*denotes deceased 24 2016 FINCA INTERNATIONAL ANNUAL REPORT Photo: Lana Parrilla Karen Beck Barbara Braddick Wai May Chan Mark Beck James Bradley Miriam Chapman Carol Beechy Lewis Brannon Brian and Allayne Chappelle Margret Beekel William and Angela Breakey Mariane Charron Robert and Marie Behnke Dennis Breen Terri Chegwidden Elizabeth Beier Frank Breil Ellen Cherniavsky Richard and Joan Belliss Kevin and Pamela Breslin Howell Chickering Shirley Belon Mike Brill William Christensen Pamela Bendich in memory of Stanlee and Elizabeth Brimberg Theodore Chu Albert Bendich Mark Brodie Avery Church James Bennett Leo and Vivian Broks Rosemarie Ciccarello Linda Bennett James Broucek Eugene Claeys Todd Benson and Jenny Solorio Harriet Brown Martha Ann Clark James Berger Stanley Brown Susan Clark Kathleen Berger William Brown and Patricia Lester Richard and Jean Clarke John Bergeron William Browning D. Elwood and Helen Clinard Joan and Bert Berkley Karen Bruinooge Douglas and Kathryn Cochrane Michael and Arlene Berner C. Bryer George Cocks Pamela Berry James Buchanan Diane and Robert Coderre Mildred and Joseph Berryman Edward Buckley Naomi Cohen Sue Berryman Thomas and Deborah Buechner Stanley Cohen Leslie Besecke and Anish Chaterjee Maynard P. and Katherine Jon Cohn John and Marilyn Bettice Z. Buehler Foundation Fund Elizabeth Coker Michael and Sompson Betz Alex Bugailiskis Lin Florinda Colavin Esther Beynon and Alfred Metzger Burlingame Foundation Courtney Collins Fred and Betty Bialek Jane Bush James and Carol Collins Judith Billings Norman and Eloise Cadman Michael Collins Boris Birmaher James Cafritz Terri Colosimo Norbert Bischofberger Margaret Cain Dorothy Comeau Mary Bittner Michael Caldwell and Spencer Commons and Martha Gates Hille Blackshaw Carolyn Callahan Community Foundation Grand James and Deborah Blades Camille Caliendo Rapids Area Robert Blais Donald Cameron C. Thaddea Compain Terry Blatt and Daniel Witmeyer Kenneth Caneva Renee Conforte Janice Bloom and Adam Grumbach Michael and Kareen Caputo Jacqueline Conley Karl Bloom Cathaline Carter Donald and Barbara Connolly Phillip Blum Janet Carter Jennifer Cook Richard Bobbe Robert Caruso Cameron and Margie Cooper Conrad Bohn Myra Cassidy Robert Cooper Diana Bolton Cathcart Millennium Sheryl Corchnoy Bev Bonita Foundation Inc. R. William and Chloe Cornell Joseph and Mary Borzelleca Melissa Cavaghan and Paul Heift Judy Cornwell Geoffrey and Idalia Bourne Cathy Cavell Elizabeth Cotnoir Ward Bouwsma Jeanne Cebulla Cottle Family Foundation Linda Bowden Vija Celmins Karen Coulson J Boylan Larry Chait Andrea Coulter

CREATING RIPPLES 25 $1,000-$2,499 continued Anna Dombrowski Kaylene Farley Stephanie Coyne Judith Donnelly Jean Farmer Nancy Craig Richard Dooley Sue Farmer Peter Crawford Satish Doshi Nina Feirer Joyce Cressler Gerald Dotson Patricia Felter and Shane Whisler Lynne Crofton Sharon and Daniel Dowdall Peter Feniello James and Sara Culhane Peg Downey Mike and Nancy Fenton Cultural Vision Fund Stephen Drew Robert and Geraldine Ferguson Charlotte Curry Mary Jo and James Dry Sidney Ferguson Paul and Lynette Curthoys Pierre Duchaine Ferris Family Charitable Fund Pamela Curtis Leda Duck Calvin and Norma Fiedler Robert and Susan Cushman Douglas and Ann Dumas John Field Diane and John Dalsimer David Dumoulin Frances Fields Larry David Karen and Harold Dunlap William Fillmore Kenneth and Linda Davidson Carol and Ronald Dunn Roger Findley Jamini Davies John Dunn Dale and Ruth Finkenbiner Jeffrey Davies Craig and Sue Dupler Frank Finsthwait Kevin Davis and Holly Hertberg-Davis J. Isabelle and L. Dyck Joachim Fischer Norma Davis Irene and David Dyer Sue Fischlowitz and David Roberts Patricia Day-Lollini Patricia Ebbecke Louise Fishman and Ingrid Nyeboe * Paul De Angelis Robert Eberle Frances Fitzpatrick Nicole Dean Walter Eberspacher Maureen Flanagan and William Groneman Sylvia Deck Stephen Edelman Marcia Flannery Jerome Decker Charles Eilers Patricia Fluhrer Katherine Degerberg Frederick and Kimiko Ek Bill Foege James Degroot and Linda Roy Eric Elbers John and Marie Foley John Deharpporte Connie Ellerbach Katherine Foley and Scott McMahan Ann and James Deline Judith Elliot Karen and Michael Folk Charles Delmar Foundation Priscilla Elwell and Richard Miller Catherine Fonseca de Madrid Nora Demleitner and Michael Smith Charles Engelke Dianna Foshee and Valton Stephens Arline Denny Bernard Ennis Foundation for the Carolinas Kathryn Derry Helen Enslow Florence Fowlkes Keith Derstine Ann and William Equitz Kurt Fox Janet Devine Richard Eshleman Ann Frank Carol Devoss Via Esperanza Gregg and Mara Franklin Mark and Kathy DeWitt Tara Eustace Rachel Fraser Janet Dickerson Mary Lou Evitts and Ronald Blum Eduard Frensch David and Marilyn Dickey Excelsior Foundation Ian Frensch Kay Diederich Davilyn Eyolfson Eileen Friday Pat Dietrich Rosemary Faber John Friedlander Dale Dillavou Patricia Fahy Jamie Friedman Jay and Lisa Dinowitz Rumi Faizer Edward Friedmann Lionel and Debra D’Luna Julie and Bruce Falconer Joyce Froot Doehring Foundation Kenneth Falstrom Jane Frydman Paul Doerksen Joan Fanning John Fueller

26 2016 FINCA INTERNATIONAL ANNUAL REPORT *denotes deceased Sumiko Fukada David Goodrich Janice Hale Charles Fuller Shari Gore Grace Hall Grace Fuller Gail Gorlitzz and Cris Smith Deborah and Donald Halliday Therese Fumich John Gorsuch James and Ingrid Halstead Marianne and William Gagen Peggy Goss Ken Halvorsrude Evelyn Gaines Charitable Fund Jon Graff Robert Hamilton Robert Gardner Kathryn Graham Hammond Family Foundation Gregory Garst Fay Graning Barbara Hancock Claire Gehrki Gregor Grant James Hand Stephen Gelardi Pat Graviano Maureen Hand Marika Geoghegan Scott and Linda Greene Sherry Handley Bruce Gillam Susan Gregory Willard and Mary Hannon Donald Gilligan and Malcolm Griffin Alice Hansen Regina Maniscalco Linda Griffith and Scott Kellogg L. Hardison Robin Gilmartin Susan and Charlie Grigg Fae Hardy Steven Girard Roger Grimm M. Catherine Harling Ruth and Jack Glantz Family Kim Guishard Clifford Harrington Foundation Margaret Guthrie Lois Harrington Katherine Goebel Lindy Guttman and Bob Stromberg Jessie Harris Kerri Goergen-Doll Leslee Hackenson Kenneth Harris Constance Golas Daniel Hadlock Linda Harris Ora Goldman Mary Haering Marietta Harrison and Ruth and Richard Goldstein Robert and Elke Hagge Robert Geahlen Emilio and Cecilia Gonzalez Lynn Hagman William Harter Susan Goodman Susan and David Hahn Iris Hartog Ellis Goodman Family Foundation

Photo: FINCA Staff CREATING RIPPLES 27 $1,000-$2,499 continued Dale Hohm P. Q. Jenkins John Haskins Heloisa Holden David Jette and Cecile Disenhouse Charles and Bernadette Holdener Ken and Beverly Jinkerson Margaret Hassett Jeffrey and Peggy Holmes Carl and Mary Johnson John K. Hatch, Jr. Horizons Foundation Catherine Johnson Craig Hathaway Dixie Horton Jeanette Johnson Paul Haughey Nancy Houghton Keith Johnson Margaretta Hausman Alice Houseknecht Lorna Johnson Roy and Kay Havenhill Charles Howe Mayette Johnston Hayes Foundation Charitable Trust Mary Huff Shawna and Cecil Johnson James Hayes and Catherine Keig Tamara Hughes Thad and Suzan Johnson Henry Haynes John and Cynthia Hummel Nancy Jones Gwen Healy Katherine Huseman Roland Jonsson James and Marilyn Hebenstreit Tom Huth Zema Jordan Patricia Heil Herman Hutter Edward Juda Frank and Miriam Hellinger Ted Hutz Emily Kahn Jacqueline Henderson InFaith Community Foundation Patricia Kaiser Elizabeth Herbert Velda Ishizaki David and Renee Kaplan Jeff Herring Elizabeth Ivy Dolores Katzenberger Kevin and Linda Herzog J and AR Foundation Marilyn Katzman Thomas Heye Monica Jacobs Cathy Kaufman Iger Konstanze and Robert Hickey Kate Jacobson Nicolas Kauser Charles Hill Kenneth and Debbie Jaffe Andrea Kavaler Thomas Hill Harold and Melva Jastram Thomas Keane Barbara Hillman Stephen Jatkowski Betsy Keefer Jason Hime Allen Jedlicka and Wendy Brudevold Julie Keese Daniel Hinkle Frank Jefferies Angeliki Keil Marilyn Hoegemeyer John Jendras and Judith Ponce Denise Kenna

Haiti Clients Rise Up Again

Early on the morning of October 4, 2016, Hurricane Matthew slammed into Haiti’s southern coast with 145-mile-per-hour winds and torrential rain. In the region of the country that bore the brunt of the killer storm, FINCA was serving more than 7,000 clients. Over 1,000 of these clients’ businesses were damaged.

Thanks to your generous support, we raised over $50,000 to rebuild their businesses, helping them to get back on their feet and resume their dreams of a brighter future.

28 2016 FINCA INTERNATIONAL ANNUAL REPORT Photo: FINCA Staff Claudia and W. Keith Kennedy Daniel LaFond Anastasia and Will Lyman James Lehr Kennedy Bill Lamoreaux Marvin and Jane Maas Audrey Kenny Herbert Lane Brian MacDevitt Susan Kephart John Lane Duncan and Susan Macgregor Coyla Ketchy Rebecca Lane Susan Mackensen Frank Kilpatrick Robert Langejans James MacNair Namsik Kim Duane and Margaret Lansverk Antoine Macoule John Kindschuh Eugene and Catherine Lantz Mary Lou and Jerry Madden Elizabeth King Catherine Larned Susan Madian Mary King Aeric Larson Joseph Magee Kirby Family Foundation Janice Larson Richard and Annette Maiberger Gabriela Kiss Betty Anne Latrace-Henderson Michal and Margaret Makar John Klein and Maria Pastoor Margaret Lattner Laura Malik Kathleen Klein Juanita Leasure Suresh Mallikaarjun Douglas Kleinsmith Kamee Lee Teresa Mallon Alan and Robin Kluger Marialucia Leen Jesse and Barbara Margolin Maritta Ko Louise Leestma Charles and Jan Marlin Lillian Koblenz and Majeed Margaret and Clarence Leinbach Victoria Marone Al-Mateen William Leininger Claudia Marrow Richard Koch Alfred Lemmo Robert Marshall Durema Kohl Lemole Family Charitable Trust Christine Martin Stephen Kolodny James and Michele Leonard David Martin and Miriam Lezak Michael and Ina Korek Paul Leonard Howard Martin Foundation Trust Sheila Leonard Julia Martin Walter and Madeleine Korfmacher Lee Leonhardy Richard Marx Liesbet Koromzay David Lerman Robert Mascola Maureen Koseff Larry and Donna Lesh Anne and Frank Masloski Colleen Kovacs Adrienne Levin John Mason Reginald Kowalchuk Leslie and Marsha Levine Richard May Helen Kraft Susan Levine Judith Mayer Richard and Barbara Kraft Donald Levy Brian Mc Inerney Thomas Krajewski Elisabeth Levy Steve and Nancy McAlister Liza-Lee and George Kremer Dennis Lewis Robert and Dorothy McCabe Andrew Kronfeld and Samantha Nancy Lifland Michael McCants Kenig-Kronfeld Audrey Linnes Patricia McCarthy Spencer Krueger and Mary Lefevre Brian Lisse and Cindy DeRuyter Paul McCarthy Jacqueline Krump Mary Little Marilyn McCloskey Herbert and Rosemary Kuehne Angela Lloyd and Ric Simmons Robert and Mildred McCoy Steven Kuhn James Lockhart Frances McGown Joanne Kunz Dorothy Lockspeiser Dane Steven and Delia McGuire Jane Kuo Collin and Susan Loewen Henry McKean Nancy Kurrus Helen Lowry David McKee Meredith and Joseph Kwiatkowski Margaret and Noel Lowry Margaret McKee Abigail Labelle Ivan Lund Kevin McLatchie Jane and Robert Ladner M J Lusnak and R. Collins

CREATING RIPPLES 29 $1,000-$2,499 continued Lawrence Minton Kevin Mulcahy and Jane Nowakowski Hugh McLean Megan Mistler Shirley Mungall Marguerite Mclean-Hewetson Sandra and John Mitchel Christine and James Murakami James and Caroline McManus Perry Mitchell and Pam Woodley James and Lorna Murphy Claudia and John McNamara Gary Miyashiro Leo Model Foundation, Inc. Patrick Murphy and Genevieve Daniel Meek Losonsky Richard Mollette George and Jean Meek Jim Murphy Donna Moniz Nina Meierding—in memory Carolyn Murray of Dorothy Rechtin Ann Montgomery Smith John Murray Alex Mendelsohn Donald and Eleanor Moon William and Jane Murray Robert Messerschmidt Patrick Mooney David and Melanie Mustone Cris Meyer Cindy Moore Richard Muth Judith Mich John Moore Katharine Myers Madeline Miles Tertia Moore and Robert Penn Peter Myers Margaret and Gary Miles Era Moorer William and Ann Naftel Karen Miller Richard Moran Uday and Sangeeta Naik Margaret and James Miller Bozena Moravec John Naismith Jamie Millican and Thomas Cottrell Susan Morey Jeffrey Nareski Bob Mills and Judy Kleen Corinne Morse and David Beeman Lola Nelson Sara Mills Ruth and John Morton Jean Newcomb Alys Milner and Michael Francini William Morton Jane Newman and Amy Lange Sue and Ian Milnes Elizabeth Moser Peter Newman and Kathy Lang Sylvia Milosh Carolyn Moss and Daniel Hawkins John and Judith Nicholson Christian Milton and Rana Nikpour Lou Moyer Margery Nicolson Betty Miner Peter Moyer Carol Norberg

30 2016 FINCA INTERNATIONAL ANNUAL REPORT Photo: FINCA Staff Sarah Nordquist Quynhanh Pham Rosemary Regis and Liz Northrop Laurie Phelan David Deramus Tori Nourafchan and Paul Phillips Carole Reiner David Rosenstein Gary Pierce Christine Renier Dan Nowlan Sergio Piomelli Deborah Rennels and Angelica Leeds Joseph Obegi Hanna Pitkin Elizabeth and Alexander Renton S. Obenshain Richard and Orah Platt John and Marguerite Restrick Kelly O’Brien Mary Poe and Dennis Revichi Dawn Reynolds Marianne and John O’Brien Patricia Pogue Gerald and Christa Reynolds Carol Oettinger Steve and Robin Pollens Grace Riggs Beth Ogilvie John Poole Thomas Rinaldi Jeff Olson Harold Popma William Ritter Donna Oman Lester Poretsky Family M. Emmett Omar Foundation, Inc. Nancy Rivera Michael and Mary Oothoudt Richard and Janet Post F. Bruce and Nancy Roberts Patrick Ophuls Georgianne Poteet Cynthia Roberts Edward Ordman Bruce Pottash and Elaine Roberts Christopher Osgood Scott Ferguson Bruce Robertson Hilvie Ostrow Chris and Lori Potter Leslie Robinson Joshua Otlin Robert Powell John Rockwell Michael Overton Sally Prestele Barbara Rodes Alan and Virginia Pabst Randall Presuhn and Stephen and Emma Root Timothy Nguyen Mary Paci Ruth Rosin Robert Preyer Patricia Padgett Dennis Rossman Jennifer Price and Tony Hunter Leah and Perry Pahlmeyer Dale and Kiki Rothman Kurt and Mary Jean Pronske Kay Parkinson Wendy Rothwell Daniel Purcell and Susan Routt Vikas and Lois Passi Heather Hanly Kevin Ruddell and Heather Kroll Dipesh Patel John Purkiss Barbara Russell Michael Pawlowski Louisa Putnam James and Marjory Russell Richard Payne Roberta Quiat Judith Russell Marjorie Peik Bart and Shannon Rabas Lawrence Russell Jessica Peirce Kenneth Raedeke Caroline Pelton Scott Russell and Joan Rahm Martha Delaney Gary Pelton William N. Raiford Joyce Ryan Veronica and Charles Pelzer Linda and Robert Railey Robert and Frances Rye Charles Perez Morris Raker and Jan Wohlberg Gary Sackett Lieve Perneel Mark and Jacquelyn Ramba Deidre Sacra Susan Perreault Kathleen Ramsay Barbara Salas Marjie Persons Gerald and Carol Rappe Carolyn Salon Michelle Pervaiz Eleanor Rashti Diane Sanchez Geraldine Peters Carol Rathe Mark Sanders James and Frances Peterson Ann Rawley Hartej Sandhu Craig Pettibone Norman Ray and Helen Yamada Verne and Marjorie Sandwall Lois Pettinger and J. Reck Dianne Erickson Katherine Sanford Martha Reddout John A. Pfister Phillip Sanger

CREATING RIPPLES 31 $1,000-$2,499 continued Mary Shields Bruce and Julie Steiner Jane Santogrossi Frank Shrontz Loren and Carol Steinhauer John Sapienza* Alan Shusterman Julia Steinmetz Ann Satterthwaite Martha Sibert Norval and Diane Stephens Gary Saunders Martin and Felicity Sidwell George Stephenson Joseph Sayre Peggy and Daniel Siegel Charles Stern Elly Scheman Penn Siegel Frances Stevenson Roger Schembs Peter Siegel and Hope Stevens Sheila Stiles Gerald Scher Anne Sigleo Brett Stineman and Linda Larkin Elliot and Rosel Schewel Jonathan Sills Mary and Mark Stinski John and Diane Schlitt Douglas and Kathy Silsbee Larry Stolzenburg Joseph Schmidt Penny and Peter Simkin E. Marvin and Cynthia Stouffer Appleton Schneider* Barbara Simmons William Strong Helen Schneider Allen Simon Edward and Nancy Stuart Kristina Schneider Elizabeth Simon Annie Sullivan Sarah Scholle Arvinder Singh Ann Kristin Sundell Taylor and Kimberly Schollmaier Kyle Sinick Victor Sutch Theresa Schreiner Phyllis Siudy Toshi Suzuki Lawrence Schulman Family Cindy Skaggs Inge Svoboda Foundation Inc. John Slaton Ludvik and Katherine Svoboda Ann Schultz Anne Slichter Bobbie Swasey Kenneth Schutte Alice Smith Judith Sweeney Gary Schwartz Ernest Smith Steve Szymanski and Caroline Zug Roy Schweyer Gregory Smith John Taitt Blaine Scott Steven Smith James Takamiya Stephanie Scott Wesley and Lisa Smith Talmage Family Foundation Ralph Scoville Curt Snyder Virginia Tarika Diana Scully William Snypes and Bill and Marilyn Taylor Michael and Alison Seaman Suzanne Suter John and Pat Taylor Dale and Judy Seborg Elaine Solley N. A. Taylor Foundation Jean Seiler Sandra Soye Paul and Margaret Taylor John Seli Harold Spaeth William Taylor Patricia Serio Will Spence Donald Teeters James Seward and Julie Karcis Margaret Spencer John Tegan Sirely Shaldjian J. Blair Spillman Phoebe Telser Bryan and Ellen Shaner Shelley Stallings Robert and Bonnie Temple Harriet Shapiro Donald and Sylvia Stanat Robert and Jean Tener Marlene Sharma David Stanislaw William Tennis Harold Shaver David and Dorothy The Max and Florence Minsky Starkweather Ronald Shaw Goldstein Family Foundation Marion Steeg Donna and Erin Shay The Kline Charitable Fund H. Ellsworth Steele Carrie Shearer The Kurtz Family Foundation Mary Steele Karen Shebaro The George Lucas Family Foundation Ronald Steele Jon Shell The Kathy Yoselson Fierce Dave Stein Determination Fund David and Elizabeth Sherman Annette Steiner Peter Thomas Eric and Carolyn Shettle

32 2016 FINCA INTERNATIONAL ANNUAL REPORT *denotes deceased Lori Thompson Charles and Catherine F. Vaaler Gregory Walter Bruce and Sandra Thomson Dolores Van Dyke Colleen Walter-Brin Peter and Luann Thomson Roberta Van Houweling Stephanie Walton Richard and Suzanne Thweatt Mark Van Kooy Susan Wandruff Derek and Patricia Till Dirk Van Leeuwen William Warburton Cynthia and Darryl Ting Douglas and Melissa Van Ornum David Ward and Rita Mendl Thomas Tinker Tammy Van Veen Philo Wasburn Jennifer Tipton John Vander Kooi Cecille Wasserman Margaret Tolzman Gregory Vesper John Watkins and David Tonjes and Karen Galindo Roseanna Viggers Allison Howard John Tornquist Niti Villinger Thomas Watts Maria and Matthew Tracy Carl Vinson Dianne Weaver Paul Tracy Milton Viorst William Webber and Patricia Gill Webber John Trotter Dennis Vogt Peter and Michelle Weeks Kenneth Trotter Carol Voorhees Mark Weigel Ann Troy Mary Wagman William Troy Stanley L Weinberg Marcia and Ira Wagner Charitable Trust Wilma Tucker Muse Gerald and Carol Wahlenmayer Steven Weinberg and Rodham and Mary Tulloss— John Walde Georganne Ferrier in memory of Sarah Kenneth Weingardt Elizabeth Tulloss Brooke Walker Sandra and Barry Weiss Patricia and John Turner John Wallace David and Patricia Weissner Beverli Uithoven Noel Walls Jonathan Weitzman Kathryn and Martin Urberg Dianne Walser-Jebb and Michael Jebb Linden Welch Jeffrey Urbina and Gaye Hill Nancy Walsh Valerie Wendling Mathew Urbina

Photo: Dawn Deeks CREATING RIPPLES 33 $1,000-$2,499 continued Jean Wolf Covington and Burling LLP Annie Wen-Feng Wu Frances Wood Credit Suisse Mary Wenninger Joann Wood Dentons US LLP William and Mandy Westerkam Linda Wood Early Road, LLC Scott Weston Harriet Woods Gilbert’s LLP Emily Wey Anna Wooldridge Google Inc. Charles Wheatley and James and Carole Wortley Great Plains Analytical Kimberly Reeves Sara and Paul Wright Laboratory, Inc. Clifford and Deborah White Kathleen Wronski Hengeler Mueller Harold and Carol White Ruth Yeazell Kirkland and Ellis Nancy and Monty White George Yntema Latham and Watkins LLP Sharyl White Peg Yorkin MasterCard Worldwide Elizabeth and Paul Whitehead Kuan Yuan Microsoft Corporation William Whiting Pat Zaharopoulos Orrick, Herrington and Sutcliffe LLP Paul and Shelley Whyte Joyce Zaitlin Pic Tec Ronald Wielage William Zalewski Roxann Stoski Medical Corp Mary Ann Wilkes Zephyr Charitable SDH Enterprises Horace Wilkins Foundation Skimlinks Thomas Willett Ed Zerylnick Swiss Capacity Building Facility Barbara and Terry Williams Corporations T. H. Yu Medical Professional Robert Williams Corporation Stephen Williamson and Allan Kalish, WorkZone, LLC The Martin F. Sticht Margot Hallman AmazonSmile Charitable Fund Janet Willis Ameriprise Financial Services, Inc. World Bank Community Connections Fund Paul Wilson and Mary Donchez Cereal Ingredients, Inc. Ralph Wittman Clifford Chance LLP

34 2016 FINCA INTERNATIONAL ANNUAL REPORT Photo: FINCA Staff Foundations Meadlawn Christian Church Norman Dudziak and Damaris (Disciples of Christ) Rohsenow Bill and Melinda Gates Foundation Mile High Friends of FINCA Nancie and Mauritz Erhard Ford Foundation Pastoral Ministries at Brooksby Village Joen Fagan Greater Houston Community Foundation Silverside Church Jo Ann Field * The Clifford Chance Foundation, Inc. The Human Rights Project Inc. Ray Ganey The Educational Fund The United Church of Canada Emily Garlin Foundation The Kristie Charitable Foundation Arlee Geary United Methodist Committee Jack Goggin The MasterCard Foundation on Relief Steve Goldstein Whole Planet Foundation United Way of Rhode Island WildHearts Ltd Margaret Gossage Legacy Society Edmund Grossman John Gustin Government and Anonymous (7) Multilateral Donors Lindy Guttman and Bob Stromberg Caroline Adams Doris Haggard Agribusiness Initiatives Trust Daniel Altilio (Abi Trust) Marian and Robert Hatch, Jr. Terry Andrews Asian Development Bank Robert and Nancy Hatch Alan and Helen Appleford Élan RDC Maryjude Hoeffel David Bard Enhancing Financial Innovation John Hoffman Belinda Barington and Access Carol Hollworth Deborah Barto Financial Sector Deepening Trust Thomas Hooley Richard and Marilyn Batchelder FMO Katherine Hufnagel Annemarie S. Bein Fonds Pour L’Inclusion Financiere Brian Hughes en RD Congo Dorothy Benavides Mona Jibril German Society for International Michael and Sompson Betz Keith Johnson Cooperation Audrey Beukenkamp Doresa Jones International Finance Corporation Judith Billings Kathy Kaiser Kreditanstalt für Wiederaufbau Elizabeth Bolotin Bankengruppe (KfW) Marjorie Kemp Joseph and Susan Bower Microfinance Investment Ann Kempees Rick Browne Support Facility for Christine Keyt Steven Bruckner REGMIFA TA Facility William Kilgour Sally and Leonard Burdock UNCDF—Making Access Possible James and Janet Kimble Kenneth Burrows United States Department of Douglas Kleinsmith Agriculture (USDA) James Caffery K. A. Krick Carolyn Carlat James and Leslea Kunz Diane Cavenee Private Voluntary Jeffrey Lalande Melanie Chadwick Organizations Margaret and Clarence Leinbach Thomas and Janice Chamberlin Adorers of the Blood of Christ James Licata Heather Chisholm-Chait Bay Area Unitarian Universalist Church Rosemary and David Logan Eugene Claeys Bethany Community/ Richard Lundy and Lucille Ladies of Bethany Tim Clauss Goodwyne Church of Religious Science Barbara Crook B.R. Marchand Church of the Resurrection Don Dietz Enid Margolies First Presbyterian Church of Kathryn DiGiorgio Jeannine McCormick Kerrville, Tex. Raymond Dobkin Frances McGown First United Methodist Church of Susan Dodd * Northville, Mich. Regina Michaelis

*denotes deceased CREATING RIPPLES 35 Legacy Society continued Anna Louise Reynolds Nancy Solomon * Louise Michlin Phillip Richman Janet Spector Darlene Mikula Michele Risa Robert and Faye Spencer Lisa Miller F. Bruce and Nancy Roberts Ruth Stahl Terri Mockler Sara Rothmuller Keith Stanley Peggy Moore Tracie Rowson Mary Steele Delano and Luzetta Newkirk Chris Sanders Bill and Susie Thorness Peter Newman and Kathy Lang Lynne Schreiber Roger Tiemann William and Marsha Nickels Rupert Scofield and Ann Tiernan Lorraine O’Hara John and Margaret Parke Linda Van Buren Catherine Scott Sandra Perkins and Robin Velte Patricia Serio Jeffrey Ochsner Barbara Wade Mary Ann Sestili Vivienne Perkins-McLean Mark Wales Carrie Shearer Sally Pierson Thomas and Barbara Weakley Wanda Shirk Katie and Michael Place Karen and Stephen Wiel Diane Short Junius Powell Priscilla and Rodney Wilson John Shugars William Raiford Maxine Wolf Nancy Sienknecht Linda and Ahmed Raiss Julia Wood Raymond Sinetar John Rau Lucy Wyatt and John Mattinen Rhea Singsen Alfred and Connie Remetch Jan Zlotnick Victoria Repen Mark Smith

*denotes deceased 36 2016 FINCA INTERNATIONAL ANNUAL REPORT Photo: FINCA Staff SUPPORTING FINCA’S MISSION

Ways to Support

Our mission is to alleviate poverty through lasting solutions that help people build assets, create jobs and raise their standard of living. Your support will enable low-income families to improve their lives and have a positive impact within their own communities.

There are many ways to support FINCA’s work:

One-Time Gift Stocks Your support will help to improve the lives of Make a gift of stocks, bonds or mutual funds. millions of people. FINCA.org/donate FINCA.org/stock

Monthly Workplace Become a monthly donor of $10 or more and Support us through workplace giving. Payroll create a reliable source of funds that sustain pledge campaigns represent a cost-effective new microloans to low-income individuals. and easy way to support the vital work of FINCA.org/sustain FINCA International. FINCA.org/workplace

In Memory Legacy Honor a loved one with a donation in memory Join our Legacy Society by including a bequest or in celebration. FINCA.org/honor to FINCA in your will. FINCA.org/legacy

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.

Photos (above and back cover): Dawn Deeks CREATING RIPPLES 37 FINCA.org | FINCACanada.org | FINCAUK.org FINCA International Headquarters 1201 15th Street, NW, 8th Floor | Washington, DC 20005

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