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The Road to Inclusion2015 FINCA ANNUAL REPORT

The Road to Inclusion 1

The FINCA Journey: Founder’s Letter

From its birth, FINCA’s purpose has

been inclusion: to serve the world’s most

disadvantaged citizens.

When FINCA launched its first “Village Banks” in the 1980s, our purpose was to assist illiterate, unemployed, and poverty-stricken families—especially mothers—with $50 loans to create businesses capable of generating $2–$3 of extra income per day. This result, we trusted, would be just enough to improve their children’s nutrition, keep them in school and still set aside a few cents per day in savings.

This was a revolutionary proposition at the time. Throughout the underdeveloped world, 80% of citizens, women in particular, were excluded from access to credit from the commercial banking system. But our idea caught on. Beginning with a few other nonprofit agencies, then dozens, and eventually hundreds of microfinance programs were operating worldwide by the end of the millennium.

Today microfinance is a global movement that includes an estimated 10,000 programs with a service outreach exceeding 160 million families. For its part, FINCA now serves nearly 2 million clients across five continents and is one of the 10 largest microfinance institutions on the planet.

The very scope and rapidity of FINCA’s growth, and that of the global microfinance movement, is testimony to how large was the exclusion that existed around the world, particularly with regard to women’s access to credit. Today, millions of mothers and fathers in the developing world have not one but several microfinance providers who will give a small loan of working capital—often accessed by cellphone within a matter of minutes.

Inclusion of women, and rapid access to working capital (or savings), is just the start of another process of inclusion. A growing business enables a FINCA borrower to improve her family’s nutrition and health, to keep her children in school, to buy a solar-powered lamp and to simply hope and plan for the future. A child who stays in school long enough to become numerate and literate will be able to earn a wage five times greater than his/her illiterate mother. These positive changes are the products of inclusion.

And such gains are measurable and even predictable. According to the United Nations, in the past 15 years great improvements have occurred in the global statistics of maternal and child health, education, housing, clean water and income. The World Bank, the United Nations and many other development agencies are predicting, and advocating for, the end of severe poverty on the planet by the year 2030! We are proud to be part of the solution.

John K. Hatch Founder

June 30, 2016

John K. Hatch, Founder

1 The FINCA Journey: Founder’s Letter

2 Letter from the Chairman and the President

4 Mapping Out FINCA

6 Our Services

7 Financial Inclusion

8 Creating Jobs and Fostering Markets

10 Improving Living Standards

11 Bridging the Digital Divide

12 Empowering Women

14 Client-centric Services

15 Our Microfinance Network

16 “ Off the Grid” Products with a Purpose

18 Key Indicators

19 2015 Financial Summary

22 Leadership

24 Partners and Supporters

41 Ways to Support

2015 FINCA INTERNATIONAL ANNUAL REPORT

Copyright 2016 FINCA International, Inc.

Photos: Cover—Dawn Deeks; above—FINCA staff

2 2015 FINCA INTERNATIONAL ANNUAL REPORT The Road to Inclusion 3

This premise has guided us for more than 30 years. FINCA clients once met in Village Bank groups under trees in Mexico. Further down the road, we offered savings accounts in the mountains of Kyrgyzstan. As new technology arrived, we developed agent banking in the Democratic Republic of the Congo, expanded mobile banking in Tanzania and offered remittances across Armenia. More recently, with the help of our generous supporters, we are addressing health and energy needs in Uganda, through FINCA+.

In 2015, demand for FINCA’s services remained strong. Microfinance is still needed by nearly 2 billion people who struggle to fully participate in their economies. They cannot start or grow a business without affordable capital. People also need access to reliable goods and services, such as energy-efficient cookstoves and solar lighting. These products can save people time and money, and reduce health risks, if they are available, trusted and made affordable through financing.

In 2015 we also saw the continuing rise of FinTech—technology that opens up new channels for delivering financial services, including consumer finance. Emerging markets have been profoundly affected by the massive increase in the use of mobile phones by people earning just a few dollars a day. This technology is making finance more accessible, quicker and more scalable. At FINCA, we moved swiftly during the year to use new technology to reach more people with essential, responsible financial services at a lower cost, while ensuring privacy and protecting families. We are energized and excited about the possibilities.

FINCA is wholeheartedly embracing change and innovation. At the same time, FINCA’s microfinance network has been deeply affected by a combination of external factors, principally the economic crisis in Eurasia following massive currency devaluations and a dramatic fall in the price of oil. In Africa, a steep decline in commodity prices caused similar devaluations of those currencies, adversely affecting our clients’ businesses and their ability to repay loans. This impacted our financial performance and prevented us from reaching as many people as we had planned. It’s in these tough times that we count on supporters like you, more than ever, so that we may continue to build a better tomorrow for as many families and communities as possible.

The many challenges of poverty are interconnected. At FINCA, we have always known this and we also know the risks and social rewards of working in the world’s most challenging environments. In the year ahead, we’ll continue to support communities with financial services that help people achieve self-reliance. We are also launching a new effort to support promising social enterprises that broaden our effort to address non-financial needs, such as clean water, reliable energy and sanitation.

We do this because we know that FINCA’s mission is as important today as it was the day we issued our first loan in Las Candelarias, El Salvador, in 1985. We have a team that is 12,000 strong: dedicated, local people who know what needs to be done. On behalf of them and our nearly 2 million clients, we thank you for continuing on this journey.

The Way Forward: Letter from the Chairman and the President

Robert W. Hatch, Chairman

Rupert W. Scofield, President

June 30, 2016

Robert W. Hatch Chairman

2015 at a GlanceToday, more than ever, new

technologies and social

enterprises are offering the

poor fresh opportunities to

improve their lives.

Dear Supporters,

FINCA’s journey began with a simple idea: if everyone could be included in the economy, with

the opportunity to build a business, earn a living wage and have access to the resources needed

to be productive, lives would improve and communities would become more resilient.

Rupert W. Scofield President

(As of December 31, 2015)

1,837,391 $168.3 million $1.3 billionTOTAL CLIENTS TOTAL SAVINGS DEPOSITED TOTAL LOANS DISBURSED


In 2015, FINCA...

FINCA is dedicated to expanding financial inclusion, strengthening local communities and creating

opportunities for the women, men and families who remain excluded from the benefits of global

economic growth. In 2015, we served directly nearly 2 million people in 23 countries.

FINCA in AfricaDemocratic Republic of the Congo

Malawi

Nigeria

Tanzania

Uganda

Zambia

FINCA in EurasiaArmenia

Azerbaijan

Georgia

Kosovo

Kyrgyzstan

Russia

Tajikistan

FINCA in Latin America and CaribbeanEcuador

El Salvador

Guatemala

Haiti

Honduras

Mexico

Nicaragua

FINCA in Middle East and South Asia

Afghanistan

Jordan

Pakistan

Embraced the UN Sustainable Development Goals: FINCA committed to support the UN Sustainable Development Goals, particularly on poverty, clean energy and water, work and economic growth and gender inequality.

Committed to clean energy: In October, FINCA joined the White House Forum for Off-Grid Clean Energy Markets and committed to offering affordable solar energy products to 300,000 households by 2019.

Supported a greener planet: FINCA Nicaragua began offering “green loans” to help clients acquire solar panels for light and power.

Lowered the barriers to moving money: FINCA Haiti launched money transfer services across all eight branches. Had a 1st birthday: Our newest

subsidiary in Nigeria celebrated its one-year anniversary. In 2015, we reached 13,000 clients in Africa’s most populous country.

Expanded our reach through agents: Our agent network in the Democratic Republic of the Congo allows clients to bank with local FINCA Xpress merchants, making it more convenient to transact.

Brightened lives: FINCA’s young social enterprise in Uganda, BrightLife, made solar lanterns available and affordable to more than 7,000 families.

Offered safe and secure savings accounts: FINCA Pakistan had the largest savings portfolio in the network in 2015—almost $58 million and more than 380,000 savers.

Increased our services as licensed banks: FINCA Malawi and Kyrgyzstan received bank licenses to accept deposits, giving clients access to savings accounts and other needed services.

Certified our responsible services: FINCA Azerbaijan received Smart Certification, which is the industry standard for responsible services.

Reached people through mobile: FINCA Tanzania continued to expand mobile banking, which accounted for 24% of transactions in 2015.

Supported agricultural growth: In our Eurasian subsidiaries, rural and agricultural lending accounted for over 40% of borrowers.

Mapping Out FINCA


BIOMETRICS: POWER IN YOUR HANDS

Since opening its doors in December 2014, FINCA Microfinance Bank Limited Nigeria has enrolled over 10,000 clients in biometric-enabled banking. When a client opens a savings account with FINCA, they provide a digital scan of their fingerprint. Any time they transact at a FINCA location or with a FINCA agent, they can access their account by scanning their finger on a biometric-enabled point-of-service device. From there, they can repay loans and make withdrawals, deposits and transfers from their savings accounts. This simple but high-tech solution, coupled with streamlined account opening requirements and no transaction fees, makes FINCA’s financial services accessible to more people and allows for easy and secure transactions.

Navigating Our Services

Driving Toward Inclusion: Access to Financial Services

Group loans: Village Banking and small group loans are targeted to very low-income entrepreneurs with the smallest enterprises.

Individual loans: Larger loan sizes and more flexible terms help entrepreneurs continue to grow their businesses and generate jobs.

Agricultural loans: Repayment schedules are timed to coincide with planting and harvesting cycles. These loans let rural clients purchase seeds, fertilizer, livestock and equipment when they are needed and repay the principal when the harvest comes in.

Savings accounts: Savings help clients build a cushion against hard times and a nest egg for education, medical care, major life milestones, old age, business expansion and other long-term goals.

Insurance: Credit, life, disability and funeral insurance all help reduce the financial stress of meeting major or unexpected expenses.

Money transfers: FINCA clients have a safe and affordable way to receive and send money for business and personal purposes.

Energy loans: Clients can purchase or lease clean electricity systems or products for use at home or to improve their small businesses. The systems also improve health and safety by eliminating the use of kerosene or charcoal.

FINCA delivers responsible

financial services, adopting

technology for efficiency

while maintaining close client

relationships. Globally, over

30% of our transactions are

happening outside of FINCA’s

brick-and-mortar branches,

meaning clients spend less

time traveling to see us and

more time building and

growing their businesses.

FINCA’s average loan size

is $831.

The products we offered in 2015 included:

7

Nearly 2 billion people

worldwide need access

to financial services

so they can make the

most of their resources

and take part in their

local economy.

TYPICALLY 20-50 YEARS OLD

LIVE AND WORK IN URBAN AND RURAL

AREAS

In many countries, micro- and small businesses lack credit to grow income and generate jobs. This is a major barrier to grassroots economic development.

FINCA plays an important role in addressing this inequity because we serve the most vulnerable and underserved people in some of the most challenging environments in the world in a way that is ethical and responsible.

Digital innovations, such as mobile and agency banking, are making it easier than ever for larger numbers of people to open their very first bank account and deposit or withdraw money. By adopting and expanding these new channels to reach more people, FINCA gives them the opportunity to access the kind of financial services people in the developed markets have enjoyed for decades.

FINCA’s Client Profile

MORE THAN HALF ARE WOMEN

SUPPORT AN AVERAGE OF SIX FAMILY MEMBERS

20 to 50

Some also support other relatives, neighbors and orphans

Photo: Dawn Deeks


Creating Jobs and Fostering Local Markets

FINCA-funded businesses in Tanzania created 151,049 jobs

in 2015. Of those jobs, 43% were held by women.

Over 600 million people

under the age of 25 live

in Africa and 72% of

them are unemployed

or underemployed.

By 2035, the International Monetary Fund estimates the number of Africans joining the labor market each year will exceed that of the rest of the world combined. To meet this demand, 18 million new jobs will have to be created each year for the next 20 years across Sub-Saharan Africa.

Across the entire FINCA network, as more youth enter the job market, there is tremendous potential for young entrepreneurs, farmers and business people to create their own jobs and employ others as well.

It is important that these jobs provide not only income and the opportunity for a better life, but also the dignity that comes with meaningful work and self-employment.

Zahura Issa Feruzi, lovingly known as Mama Kapu, is a prime example of the positive power of investing in women. After gaining access to FINCA’s financial services to grow her business in Tanzania, Mama Kapu’s life changed, as did the lives of the five people she was able to employ.

“The loan let me become self-reliant.” Mama Kapu’s words ring true for the millions of women entrepreneurs who have followed their dreams, grown their businesses and improved lives with the help of access to financial services.

Mama Kapu’s journey as an entrepreneur began at the age of 20, when she started to work as a food vendor in Dar es Salaam, Tanzania. After years of supporting her two children through her business, she faced a serious setback: her landlord increased her rent and she could not afford to stay at that location. The business was in jeopardy and Mama

Kapu knew that moving to another rented location would carry a similar risk. She longed to have a restaurant of her own, on her own land.

With the help of a FINCA loan, Mama Kapu’s dream became a reality. She purchased a small plot of land and built a restaurant on it, serving breakfast and lunch daily. The restaurant started with just one employee. As the business grew, Mama Kapu was able to hire five more employees, all women. Several of them rely on their jobs to feed, clothe and educate their children, just like Mama Kapu.

“When I got a job at Mama Kapu’s restaurant, I thanked God,” says Amina, one of Mama Kapu’s employees. “I am a widow and have two children to look after. Getting a job is so difficult.”

As Mama Kapu continues to help the women working with her, she is also saving funds to improve the restaurant with running water and electricity.

Mama Kapu and her family of employees are just one example of the power of investing in women. When women are empowered to work and create their own businesses, the talents of half of the world’s population are unleashed, impacting families, communities and local economies.

The Power of One Woman

“The loan let me become self-reliant.”

Making Gains in Tanzania

43% WERE HELD BY WOMEN

151,049JOBS

Photo: David Soll


“ The genius of the microfinance industry … is that its theory of change is based on a

far more profound understanding of the human person … That every human being

is not just a mouth to feed but also a person of dignity, with energy and God-given

talents that are our duty to cultivate—in ourselves and each other.”

M. Mudassar Aqil, Chief Executive Officer, FINCA Pakistan Microfinance Bank Ltd.

Improving Living Standards

Starting a microenterprise.

Expanding a microenterprise.

Investing in education.

Covering major life

expenses—joyous occasions

like weddings or tragic

ones like funerals.

These are the curves and twists that everyone encounters in a lifetime. For many people, accessing the resources to address them can mean a simple phone call to a bank.

For billions of others, these events can require difficult decisions and impossible tradeoffs that set families back years.

FINCA’s clients aspire to have control over their lives and finances. They dream of having a thriving business and the power to make choices for their future. Like people everywhere, they want a better life for their children, with greater opportunity. They know life won’t always be easy, but they want the ability to prepare for life’s crises … and celebrations.

“ Innovations in technology and financial services are enabling previously ‘unbanked’ people

in developing countries around the world to gain access to credit and financial services at

an unprecedented velocity and scale. It’s no overstatement to call this new trend in financial

inclusion a revolution … What’s happening is exactly what socially responsible microfinance

institutions like ours have been dreaming of for decades and, to be sure, we’re excited to be

playing our own part in it.”

Rupert Scofield and Andrée Simon, The Financial Times, Beyondbrics blog, March 2016.

Bridging the Digital Divide

Agent banking: Provides personal services to more people right in their communities.

Value-added services: Additional services to save people time, including the ability to pay utility bills, school fees and more.

Mobile banking: Easier access to services to avoid the cost of going to a branch.

Biometrics: Fingerprint scans allow access to accounts, giving clients security and control over their money.

Mobile app and e-wallet: Being developed in Pakistan. For many, this is a first step to accessing formal financial services.

How Technology Serves FINCA Clients:

Technology is allowing FINCA to expand its reach, improve clients’ experiences and become more

efficient. In some markets, FINCA is the first to bring new technology to scale—for example, with

biometric identification in the Democratic Republic of the Congo.

We are continually testing, investing and incorporating experiences from pilot processes into new financial products and services that are tailored to the needs of the low-income people we serve. To unlock the full potential of digital financial services and to limit risk for everyone, education is essential. It’s not just important why and if our clients adopt technology, it is how they use it. FINCA believes in grassroots education efforts: the better our clients are educated about the utility and features of new technologies, the better they will be protected and the more they will benefit.

Account automation: Loans and savings are processed faster with tablets in the field.

Vali-Data: A proprietary research platform validates information about clients and their businesses, allowing us to meet their needs more effectively and efficiently.

Credit scoring: Enhanced use of credit scoring speeds credit decisions.

Solar lamps and energy-efficient cookstoves: Clean and green products replace costly, polluting kerosene, and reduce deforestation and emissions from cooking fires.

Photo: Dawn Deeks

12 2015 FINCA INTERNATIONAL ANNUAL REPORT 13The Road to Inclusion

Women play a critical role in their families’ survival and success, and FINCA’s women clients are

no different. We understand the multiplier effect in business and development that comes with

providing women access to capital. Our female clients deploy funds in ways that serve their families

and communities well. That is why after 30 years FINCA still has a strong focus on making sure our

products and services are accessible and relevant to women entrepreneurs.

The Path to Equality: Empowering Women

Julia Maria Ixchop Us De Ventura never stops working. Every day, she bustles to make hot meals in her packed restaurant in the Boca Del Monte market in Guatemala City.

“I only take Christmas and Easter off,” she says.

Julia’s drive to provide for her family didn’t just come out of her passion for cooking; it also came from necessity. Like so many female FINCA clients, Julia had to become the primary breadwinner for her family.

Eighteen years ago, when Julia’s husband could no longer support the family due to his alcoholism, she decided to work outside the home for the first time in her life. She began to sell food on the street outside the market to make ends meet. The work was tough, and though selling food helped to feed her growing children, she couldn’t afford their school fees.

With Village Bank loans from FINCA, Julia expanded her business and placed her children back in school. As her dishes gained fame, she was able to rent a space inside the market. Eventually, she upgraded to FINCA’s individual loans, which have helped to pay for her stove and pans and for renovating the seating area of the restaurant. Today, her corner restaurant is named after her daughter Katy. It occupies three rented spaces in the market and consists of a kitchen, a seating area and a dishwashing area.

Julia takes pride in serving as the lifeline for her family. Her husband, who has been sober for 12 years, works side by side with her every day to help put their children through school, renovate their home and support their aging parents.

“FINCA trusted me,” she said. “Without FINCA, I wouldn’t have been able to upgrade my business. And I thank God for having so many customers.”

Of FINCA’s Clients...

54% ARE WOMEN

43% HAVE 2

OR MORE CHILDREN

“FINCA trusted me.”

72% ARE PRIMARY

BREAD- WINNERS

55% LIVE IN RURAL AREAS

OF THESE WOMEN

Driven to Succeed

Photo: Sean Mattison Photo: Dawn Deeks

14 2015 FINCA INTERNATIONAL ANNUAL REPORT

Going in the Right Direction: Our Clients in the Center

Many lenders are motivated

solely by profit and have

little regard for client welfare.

FINCA is different.

Our main focus is on income-generating microenterprises and small businesses, and we have strict policies to help ensure that clients do not become over-indebted and are treated fairly and ethically. It’s part of FINCA’s heritage and mission.

This commitment is more important than ever with the rapid rise of digital services. Responsibility toward our clients is our top priority, whether clients find us near their farms or on their phones. This is why FINCA is rapidly building capacity to use fingerprint scans to protect client accounts, mobile banking to empower clients to bank at their convenience and agent banking to offer services in more locations and communities.

Our commitment to clients extends to a commitment to offer education along with our products and services. Globally, 66% of adults, or approximately 3.5 billion people, are financially illiterate.* This means that they are at risk of exploitation. FINCA Kyrgyzstan is one of several subsidiaries working to address this among their clients and the general public. Staff are teaching clients how to efficiently manage financial resources, how to keep track of household expenses and the importance of savings. Over the past three years, FINCA Kyrgyzstan has reached more than 20,000 banked and unbanked people with in-person trainings, workshops, textbooks and publications on financial concepts.

*Source: Standard & Poor’s, Financial Literacy Around the World.

FINCA’s client protection principles help ensure that:


FINCA International is the creator of the FINCA network of microfinance institutions. As a

not-for-profit organization, we use philanthropic capital and donations to maintain and steward

our investment in the microfinance mission; research client needs and monitor outcomes;

support client-centered product development; introduce new technology, services and client

education; and support on-lending of funds to micro- and small enterprises by local subsidiaries.

The network is operated through FINCA Microfinance Holding Company (FMH), which is a partnership created with six outstanding organizations that share FINCA’s mission to help people in developing countries to build assets, create jobs and improve their standard of living. These include IFC, a member of the World Bank Group; KfW, the German government-owned development bank; FMO, a Dutch development bank: responsAbility Global Microfinance Fund; Netherlands-based Triodos Bank; and Triple Jump, a Netherlands microfinance investment firm.

FINCA International is the strategic shareholder and majority owner of FMH.

FINCA’s Microfinance Network: Social Investment Partners

CERTIFIED SMART

In August 2015, FINCA Azerbaijan joined an exclusive group of financial institutions worldwide that have earned Client Protection Certification from the Smart Campaign. This official recognition requires in-depth, external review of all processes and policies. The certification reflects FINCA’s deep commitment to high ethical standards in the treatment of our clients.

Our products do not cause harm.

Clients do not borrow more money than they can repay.

Clients fully understand pricing, terms and conditions so they can make informed decisions.

Clients are treated fairly and respectfully, particularly during debt collection processes.

Client data remains private.

Clients have ways to communicate complaints so we can resolve problems and serve them better.

Photo: Zaka Guluyev


Redefining “Off the Grid”: Selling Products with a Purpose

Mobile phones redefined

what it means to be

connected by bypassing

landline technology

and delivering

communications services

to more people. The

same phenomenon is

happening in energy.

People who are excluded from the electric power grids of the world are gaining access to energy through solar products—and the impact on individuals and communities is huge. For hundreds of millions of people, living off the grid means being forced to use polluting and expensive alternatives, such as kerosene lamps, that affect respiratory and eye health. The number of productive hours in a day is cut short. Fire hazards are ever present. Children are prevented from studying. Family and friends have a harder time gathering together.

In 2015, FINCA built a new social enterprise in Uganda, called BrightLife. It grew out of an earlier pilot to distribute solar lamps through micro-retailers. With BrightLife, FINCA aims to provide a sustainable, last-mile distribution channel for high-quality products that save people time and money, make them more resilient and empowered and increase their opportunities to participate in the local economy. To start, this includes solar lighting and phone chargers, and also efficient cookstoves that require less fuel, reduce harmful emissions and cook food much faster than an open fire so the women and girls who typically use them can get on with their day.

What does this mean in a place like Uganda, where the last mile is a dirt road, where the markets are undeveloped, where cheap products don’t last and good products are unaffordable? It means that an organization like FINCA is necessary to solve the issues, bringing together local knowledge and community networks; local entrepreneurs; affordable financing for consumers; and a commitment to quality, education and after-sales support.

Above: In Mbalala, Uganda, the

solar lamp that Walakira Grace

purchased from BrightLife

provides clean, inexpensive

light as her daughter Nawanyu

does her homework and

daughter Namutebi looks on.


Francisco Jose Ortiz Alvarez is an artist in Diriamba, Nicaragua. He specializes in folk art, depicting native Nicaraguan animals and characters on masks, wood and other materials.

Francisco wasn’t always interested in art; in fact he stumbled upon it.

As a young adult, he worked in agriculture, then started a homemade candy shop with friends. However, this venture failed and he was left jobless. With time on his hands, Francisco happened to be roaming around a landfill and found some pieces of wood. He began to draw on the wood and asked his brother-in-law to paint in his drawing. He showed the painted wood to a friend, who loved it so much that he bought it for 130 córdobas (about $6 today).

Francisco realized he could make a living creating and selling art. Soon, he began to purchase wood and sell his creations in his community. As he met

other artists in the community, he decided that they should organize to sell their work together. He tried to get financing from the government but was turned down.

In 2012, Francisco learned about FINCA’s loans and formed a group with his artist friends to receive a loan. The money has helped them put on exhibitions to sell their handicrafts. He was also able to rent a room for his studio.

“FINCA trusted us and that was most important,” Francisco said. He has also taken out FINCA loans to start a bakery business with his brother, selling fresh baked goods by bicycle.

Francisco hopes that in the future he can open an exhibition center for handicrafters and artists in the city and a bakery storefront that he and his brother can operate.

“ FINCA trusted us and that was most important.”

Portrait of an Artist

Photo: Matthew Figler


2013 2014 2015

Total Borrowers* 1,146,000 1,203,000 1, 166,000

Year-End Gross Portfolio $840,600,000 $966,900,000 $818,850,000

Total Amount Disbursed $1,464,727,000 $1,605,900,000 $1,282,989,000

Portfolio at Risk >30 days** 1.5% 1.9% 3.5%

Total Savers* 767,000 1,039,000 1,140,000

Total Deposits from Clients $78,400,000 $130,200,000 $168,300,000

Average Disbursed Loan Size

Year-End Gross Loan Portfolio

Outstanding

Total Amount Disbursed

Portfolio at Risk

>30 days*

Savers

Africa $518 $153,975,000 $265,731,000 3.4% 635,000

Eurasia $1,598 $406,129,000 $543,010,000 3.6% 117,000

Middle East and South Asia

$840 $94,448,000 $124,473,000 2.3% 327,000

Latin America and Caribbean

$588 $164,298,000 $349,775,000 3.9% 61,000

Total $831 $818,850,000 $1,282,989,000 3.5% 1,140,000

Figures include gross loan portfolio, disbursements and savings.*Includes clients who are both borrowers and savers.

**Percent of loans past due greater than 30 days.

Three-Year Summary

2015 Summary By Region

2015 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 Microfinance Holding Company (see page 15), as well as from grants and donations, all of which are used to fund our work.

FINCA International’s financial statements on pages 20 and 21 were independently audited by Deloitte & Touche LLP and prepared according to International Financial Reporting Standards (IFRS). Copies of the audited financial statements are available on our website on FINCA.org/who-we-are/financials/. The consolidated financial statements of FMH are also available on our website.

Unrestricted grants and donations ($11,454,495)—2.9%

Services, gifts in kind ($3,512,786)—0.9%

Program, interest income ($354,910,230)—89.2%

Grants, including federal govt. ($12,451,251)—3.1%

Fees and other program income ($15,530,017)—3.9%

Program services ($374,225,242)—96.1%

General and administrative ($11,627,172)—3%

Fundraising ($3,691,502)—0.9%

96.1%

0.9%3%

2015 CONSOLIDATED

EXPENSES

89.2%

3.1%2.9%3.9%

0.9%

2015 CONSOLIDATED

REVENUE

Key Financial Indicators for FINCA’s Microfinance Network

2015 FINCA International Financial Summary

Total 2015 Revenue: $397,239,154Total 2015 Expenses: $389,543,916

Source: FINCA’s managerial accounts

20 2015 FINCA INTERNATIONAL ANNUAL REPORT The Road to Inclusion 21*Full copies of the Audited Financial Statements are available at www.FINCA.org. *Full copies of the Audited Financial Statements are available at www.FINCA.org.

2015 2014

ASSETSCASH AND CASH EQUIVALENTS $137,325,636 $149,154,910

RESTRICTED CASH AND CASH EQUIVALENTS 24,876,413 23,856,725

AVAILABLE FOR SALE FINANCIAL ASSETS 6,916,967 30,553,509

FINANCIAL ASSETS HELD-TO-MATURITY 12,981,994 1,382,889

FINANCIAL ASSETS AT FAIR VALUE THROUGH PROFIT OR LOSS 29,973,025 13,179,462

LOANS RECEIVABLE—Net 793,927,099 949,333,168

DUE FROM BANKS 3,933,334 —

OTHER RECEIVABLES, PREPAIDS, AND OTHER ASSETS 22,475,965 26,892,013

PROPERTY AND EQUIPMENT 31,056,503 33,508,041

INTANGIBLE ASSETS 11,058,837 12,962,360

GOODWILL 1,041,608 1,108,117

DEFERRED TAX ASSETS 6,901,755 9,713,658

ASSETS OF DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE 11,089,682 —

TOTAL ASSETS $1,093,558,818 $1,251,644,852

LIABILITIES AND EQUITY

LIABILITIES:

Accounts payable and other accrued liabilities $32,992,028 $33,659,985

Financial liability at fair value through profit and loss 1,152,086 2,346,959

Client deposits 168,340,679 130,213,635

Bank deposits 19,704,318 2,642,270

Notes payable 584,814,387 740,825,686

Subordinated debt 24,453,715 23,646,518

Deferred revenue 6,038,938 10,615,425

Employee benefits 3,599,046 4,618,476

Current income tax liability 3,880,606 4,333,561

Deferred tax liabilities 997,302 1,327,827

Liabilities of disposal group classified as held for sale 3,035,692 —

Total liabilities 849,008,797 954,230,342

EQUITY:

Reserves 16,837,266 17,706,184

Retained earnings 190,871,939 188,448,532

Currency translation reserve (59,795,383) (28,299,651)

Equity attributable to owners of the parent company 147,913,822 177,855,065

Non-controlling interest 96,636,199 119,559,445

Total equity 244,550,021 297,414,510

TOTAL LIABILITIES AND EQUITY $1,093,558,818 $1,251,644,852

FINCA International 2015 Consolidated Statement of Financial Position*

FINCA International 2015 Consolidated Statement of Profit or Loss*

for the years ended December 31, 2015 and 2014as of December 31, 2015 and 2014

2015 2014

PROFIT OR LOSSINTEREST INCOME $354,910,230 $364,097,057

INTEREST EXPENSE (94,924,151) (86,773,012)

NET INTEREST INCOME 259,986,079 277,324,045

IMPAIRMENT LOSSES ON LOANS (40,643,279) (24,176,946)

NET INTEREST INCOME AFTER PROVISION FOR IMPAIRMENT LOSSES ON LOANS 219,342,800 253,147,099

OTHER OPERATING INCOME 14,910,392 13,945,574

NET OPERATING INCOME 234,253,192 267,092,673

GAIN ON FINANCIAL ASSETS AND LIABILITIES AT FAIR VALUE THROUGH PROFIT OR LOSS 25,284,084 —

PERSONNEL EXPENSES (146,449,554) (161,419,782)

OTHER OPERATING EXPENSES (95,306,136) (102,768,593)

DEPRECIATION AND AMORTIZATION (12,229,981) (13,141,460)

TOTAL EXPENSES (253,985,671) (277,329,835)

PROFIT (LOSS) BEFORE OTHER INCOME (EXPENSES) 5,551,605 (10,237,162)

OTHER INCOME (EXPENSES):

Grants and donations 27,418,532 30,627,186

Foreign exchange losses (25,957,601) (2,543,788)

Non-operating income (expenses) 619,625 (789,706)

PROFIT BEFORE INCOME TAX 7,632,161 17,056,530

TAX (9,391,977) (9,136,276)

(LOSS) PROFIT FOR THE YEAR FROM CONTINUING OPERATIONS (1,759,816) 7,920,254

LOSS FOR THE YEAR FROM DISCONTINUED OPERATIONS (1,055,958) (307,571)

PROFIT (LOSS) FOR THE YEAR ATTRIBUTABLE TO:

The parent 1,486,922 6,258,312

Non-controlling interest (4,302,696) 1,354,371

(LOSS) PROFIT FOR THE YEAR ($2,815,774) $7,612,683


FINCA Microfinance Holding Company LLC

Board of Directors

Robert W. Hatch (Chairman)

Michael Barth

Monish Dutt

Johannes Feist

Shawn Hassel

Rupert W. Scofield

David E. Weisman

Richard M. Williamson

FINCA Canada

FINCA Canada is a charity registered with Canada Revenue Agency (Registration No. 805686144RR0001).

Board of Directors

Rupert W. Scofield

Soledad Gompf

Jacquie Green

Michael Green

Linda Wolfond

Advisory Board

Karen Basian

Debbie Gamble

FINCA United Kingdom

FINCA UK is the working name of The Foundation for International Community Assistance (UK), a company limited by guarantee under company number 06717649. FINCA UK is a registered charity in England and Wales under registration number 1127778.

Board of Directors

Rupert W. Scofield (Chairman)

Dane Steven McGuire

Federico Pirzio-Biroli

Damien Tanner

Mahdi Yahya

Advisory Board

Jennifer Harris

Christine Renier

Christina Tessaro

FINCA International

Board of Directors

Robert W. Hatch (Chairman, Founding Member)

John K. Hatch (Founding Member)

Rupert W. Scofield (Founding Member)

Richard M. Williamson (Founding Member)

John Elkins

Amanda Ellis

Peter Epp

Harold D. Jastram

Agrina Mussa

James Semakadde

Dr. Fred Seymour

David E. Weisman

Her Majesty Queen Rania Al-Abdullah of Jordan Director Emeritus

JoAnn Field Director Emeritus

Advisory Board

Margaret S. Blakey

Angéline Fournier

Robert Graham

Hon. Cheryl Halpern

John K. Hatch Jr.

Kristin G. Hatch

Aleen Keshishian

Chuck Loveless

Rebecca Minkoff

Rosalie Swedlin

Colston Young

Senior Management

Rupert W. Scofield, President of FINCA International, Co-CEO of FINCA Microfinance Holding Company

Andrée Simon, Co-CEO, FINCA Microfinance Holding Company

Allison Scuriatti, Executive Director, FINCA International

Roman Hingorani, Chief Financial Officer

P. Daniel Smith, Vice President and General Counsel

Soledad Gompf, Vice President, New Business Development

Jeff Flowers, Vice President and Regional Director for Eurasia

Mike Gama-Lobo, Vice President and Regional Director for Africa

Chikako Kuno, Director, Transformation, Equity, Mergers and Acquisitions

Dennis Millsaps, Vice President and Chief Technology Officer

Volker Renner, Vice President for Credit and Savings

Franca Rofe, Vice President, Human Resources

Keith Sandbloom, Vice President and Regional Director for Latin America and the Caribbean

Zarlasht Wardak, Vice President and Regional Director for the Middle East and South Asia

Jeffrey Smith, Vice President, Global Chief Auditor and Chief Risk and Compliance Officer

*As of June 30, 2016

Our Leadership:

Directors, Advisors and Management*

Photo: Zaka Guluyev


Credit Suisse Through financial support, visionary leadership and secondment of talented team members to FINCA’s microfinance network, Credit Suisse is empowering FINCA to reach those who need financial services the most. At the center of the partnership is Credit Suisse’s support of our work to improve agricultural finance in Africa and Eurasia. This includes the development of high-level strategies as well as on-the-ground efforts to build staff capacity, develop partnerships and roll out products and technologies that enable financial inclusion for smallholder farmers.

Ford Foundation With the Ford Foundation’s support, FINCA is increasing access to financial services among low-income smallholder farmers and agribusiness workers in Uganda, particularly women and youth. Alongside providing financial services, the partnerships supported by the Ford Foundation will enable improved market access and increased agricultural productivity, with the aim of increasing income for FINCA clients.

MasterCard Worldwide MasterCard Worldwide and FINCA agree that deployment of technology is essential to extending financial services to the tens of millions of Nigerians who are financially excluded or underserved. MasterCard Worldwide supports FINCA’s deployment of agency banking and digital financial services in Nigeria, which enables a more rapid, efficient and client-centric expansion of outreach.

The MasterCard Foundation The MasterCard Foundation and FINCA Canada have embarked on a major initiative to scale up financial inclusion in Malawi, Tanzania and Zambia. Through this partnership, FINCA is reducing barriers to access by providing client-centric and low-cost digital financial services (mobile and agency banking) to underserved communities and integrating social performance metrics into our operations.

FINCA International is fortunate to have strong partners who share our commitment to building

brighter futures through financial inclusion.

Microsoft Through in-kind donation of software, Microsoft enables FINCA to manage a complex global operation more effectively and, ultimately, to provide life-enhancing financial services at a lower cost to our clients.

Rumsfeld Foundation The Rumsfeld Foundation provides critical support for FINCA’s efforts in Central and Southern Asia, allowing FINCA to improve access to savings products for the low-income market and to provide working capital and client education to thousands of beneficiaries, particularly to women micro-entrepreneurs and to those in the agricultural sector.

United Methodist Committee on Relief (UMCOR) UMCOR provides vital grant funding for disbursements of loans to new clients in FINCA Haiti. Through this, FINCA has reached thousands of additional clients—particularly female micro-entrepreneurs—with the working capital they need to run their businesses and provide for their families. After the UMCOR-funded loans are repaid to FINCA, they will be disbursed again to other micro-entrepreneurs, ensuring that the partnership will benefit thousands more each year, in perpetuity.

Whole Planet Foundation FINCA has been able to more cost-effectively expand outreach in the Democratic Republic of the Congo thanks to its partnership with the Whole Planet Foundation. Through the provision of interest-free loan capital and grant support for digital financial services, the Whole Planet Foundation has enabled tens of thousands of Congolese to access working capital and to make their repayments, deposits and money transfers at convenient agent locations near their home and place of work. Whole Planet Foundation has recently expanded its partnership with FINCA beyond financial services, facilitating the distribution of high-quality, affordable clean energy products in Uganda through BrightLife.

WildHearts FINCA UK and WildHearts have partnered to provide grants and loans to FINCA’s operations in the poorest communities of Africa, Eurasia, the Middle East and Latin America.

Moving Together: Private Sector Philanthropic Partners


FMO FMO has partnered with FINCA in Nigeria to help develop a digital financial services strategy with a focus on mobile banking, enabling more convenient and efficient financial services for the low-income segment in our newest market.

Financial Sector Deepening Trust Uganda (FSDU) FSDU, funded by DFID, is supporting FINCA Uganda to use new technology and develop new savings products to increase access to, and lower the costs of, financial services to our target market, with a focus on the most underserved region of the country, the North.

Inter-American Development Bank (IDB) Through its Multilateral Investment Fund (FOMIN), IDB supports FINCA with both loans and targeted technical assistance that allow FINCA to expand outreach into rural areas, improve operations and increase the use of technology in delivering services to our microfinance clients in Latin America.

International Finance Corporation (IFC) IFC’s leadership and support have helped FINCA to improve network-wide governance and risk management systems and to deliver digital financial services in the Democratic Republic of the Congo.

Oesterreichische Entwicklungsbank AG (OeEB) The official development bank of the Republic of Austria, OeEB partners with FINCA to support the development of human resources, marketing efforts and technology improvements in Kyrgyzstan and Tajikistan. OeEB has also provided loan funds to FINCA’s operations in Azerbaijan.

Swiss Capacity Building Facility (SCBF) Through SCBF’s grants for technical assistance, FINCA engages external experts to help tackle some of the most challenging efforts in our organization and to build capacity for our staff. Partnership with SCBF has been critical to FINCA’s digital financial services work in Haiti, brought a state-of-the-art risk management tool to FINCA in Nicaragua and facilitated exploration of insurance services for our clients.

United Nations Capital Development Fund (UNCDF) Supporting FINCA’s efforts to increase financial inclusion for the next generation in Sub-Saharan Africa, UNCDF has partnered with FINCA in the DRC and Uganda as part of their YouthStart program. As a steward of The MasterCard Foundation funds, UNCDF also helped FINCA to develop savings products and financial literacy programs tailored to meet the needs of youth ages 12–24. This project is ongoing, as youth are a core market segment for FINCA in Africa. Currently UNCDF’s Clean Start program is supporting FINCA to deliver solar products to bottom-of-the-pyramid clients in Uganda. UNCDF’s MM4P Program is also supporting FINCA Uganda to develop a new Agent Cash Pooling solution, which will contribute to developing the entire financial system in the country.

United States Agency for International Development (USAID) USAID has played a key leadership role throughout the history of FINCA International. This commitment was renewed in 2014 through the funding of two programs. In Jordan, FINCA and USAID piloted a program integrating microfinance loans and entrepreneurship training for young entrepreneurs. Through USAID’s Global Innovation Lab’s support in 2015, FINCA has conceived, developed and executed a last-mile distribution company focused on providing livelihoods and selling socially responsible products to individuals at the bottom of the economic pyramid in Uganda.

United States Department of Agriculture (USDA) Investing in market-based agricultural development is a key building block in alleviating poverty in developing countries. With the support of USDA, FINCA International has pioneered agricultural financial products and deployed groundbreaking technology in 11 countries through 14 programs helping our small enterprise farmers and business owners all along the agricultural value chain to succeed. El Salvador and Tanzania are the most recent countries to participate.

Moving Together: Public Sector Philanthropic Partners

HOW ONE HANDBAG IS DOING A WORLD OF GOOD FOR GIRLS

“ The opportunity to help another woman be self-empowered, to be able to

provide for herself and her own family, is something that is so important

to me,” Rebecca Minkoff says.

In 2015, designer Rebecca Minkoff (back row, left) and actress Jessica Alba (back row, right) traveled to Guatemala to visit FINCA clients to source textiles from women who hand weave intricate fabrics to support their families. They then launched the RxMHonest bag line, which used textiles handwoven by FINCA female entrepreneurs. Proceeds from the sales of the bag will help support FINCA’s work of empowering hardworking, low-income people.


Our Supporters Fuel Our Mission: Contributors and Lenders

The support of FINCA donors and lenders is vital to our efforts to serve our clients. While we are

not able to acknowledge all donors individually, on behalf of the nearly 2 million FINCA clients

worldwide, please accept our heartfelt gratitude.

$100,000 and aboveIrene Chayes*

William and Bonnie Clarke

Jo Ann Field

Carlyn Halde*

Hershey Family Foundation

Cyrus and Joanne Spurlino

Claude Thau

$50,000-$99,999J. Keith Behner and Catherine Stiefel

Dume Wolverine Foundation

Steven Gerber*

Nancy and Robert W. Hatch

Kaimas Foundation

LeFort-Martin Fund

Mary Mullane*

Priscilla Shaw*

The Diana Moore Foundation

The Osprey Foundation of Maryland

Marilyn Zaklan*

$25,000-$49,999Eric Chern

Druckenmiller Foundation

Terry and John Elkins

Andrew Hall

Alice Mertz*

Ruth and David Levine Charitable Fund

Salomon Family Foundation

The Cameron and Jane Baird Foundation

The Kathryn B. McQuade Foundation

John Watrous

Mahdi Yahya—SAMA

$10,000-$24,999

Anonymous (4)

Alpern Family Foundation, Inc.

Eric and Cindy Arbanovella

Susan Okie Bush

Alex Chapple

Carol Dauber

Fay Dresner

Bert and Candace Forbes

Helen Ford

Cameron and Diane Fowler

Jacquie and Michael Green

William and Barbara Guensche

H. van Ameringen Foundation

Kimberly and Russell Halley

Denis and Elizabeth Jamison

Joan and George Jones

Kramer Family Foundation

Kathleen Kruesi

William Lambert

Reid Mayback

National Community Foundation

Eileen O’Leary

Ostara Foundation

Lynne and Archie Palmer

Ray Benton Family Fund

Joan Richardson

Judith Ring

Raymond and Roxanne Riva

Mary Schor

Peter and Elizabeth Shattuck

Lynn Gordon and David E. Simon Fund

Prudence Spencer

The InMaat Foundation

The Ittner Family Fund

The Kristie Charitable Foundation

The Leibowitz and Greenway Family Charitable Foundation

The Red Cabin Foundation Trust

David Weisman and Jacqueline Michel

Henry Wieman

Edward and Barbara Wilson

Ryan Wise and Leslie Brunner

Linda and Greg Wolfond

Karen Wright and Tom Rastin

$5,000-$9,999Anonymous (3)

A. H. Gage Private Foundation

Laurie Adams

Nedda Allbray

John and Lana Antos

James and Lyn Avery

Kent Bach

Wayne and Karen Barnes

Sterling Beckwith

Carol and Dennis Berryman

Phyllis Bischof

John Bloom

Shirley Branch

Shirley Brandman and Howard Shapiro

Nathan Brett

Harriet Brown

Mary Ann and Gary Brownell

Steven Bruckner

Karen Bruinooge

Campizondo Foundation

Joan Carlson

James and Eithne Chuchel

Clifford Foundation, Inc.

Judith Collins

Emmanuel and Kerry Crabbe

Larry and Joyce Dare

Martha Davis

DeMartini Family Foundation

David DuPont

Helen Elahi

Eric Elbers

Jean Faddis

Nancy and Larry Fitzgerald

Francis and Christine Martin Family Foundation

Franklin Conklin Foundation

E. Gabel and Donald Lateiner

Gregory Garst

Charles and Patricia Geiger

Madelaine Georgette

Diana Godish

Timothy and Amy Guth

HCD Foundation

Curtis Heaston

Susan and Craig Hennessey

Sue and Ralph Hoevelman

Linda Hunt Anton and Austin Hayward

Brenda Johnson

Brian Johnson

Jeri Johnson

Keith Johnson

Dorothy Keddie

Tom and Heather Keenan

Krystyna Kiel and Dr. Alexander Templeton

Daniel Kinney

Ernest and Karen Koenig

Krembil Foundation

Andrew Kronfeld and Samantha Kenig-Kronfeld

Lorie Leleux

Carol K. Levine

Torben Lorenzen

Luschei Outermost Fund

Laurie Manderino

Mary and John Manley

Rexmull and Doris Manyeto

Beverley Martin

Ann Martyn

Mary and John Grant Foundation

Lorraine Mastropieri

William and Lisa McGlone

Marilyn and Thomas McLaughlin

Alys Milner and Michael Francini

Tertia Moore

Mouat Charitable Trust

J. T. Murphy

Leonard Mushin

Nararo Foundation

Neskey Family Fund

Liz Northrop

John O’Brien

Paul & Pearl Caslow Foundation

Barbara and Nicholas Payne

Kathleen Peto and Daniel Rice

Ruth Rollins

Solomon Family Foundation

Al and Anne Stewart

William and Doris Stilwell

The Gesher Family Foundation

The Hockey Family Foundation

The Oriska Foundation

The Price Family Charitable Gift Fund

The Warren & Deb Fisher Charitable Fund

Paul Tracy

Betty and David Voigt

Francesca von Broembsen and Peter Ver Planck

Margaret Watkins

Marcia Weber and James Flaws

David Welden

Charles Wilkinson*

Richard and Kristen Williamson

Pedie Wolfond

Cary and Lynn Yeh

Mark and Katherine Young

Irka Zazulak

Dr. Robert B. Zufall

$2,500-$4,999Anonymous (4)

Sally Anderson

Kevin Ashton

Russell and Carol Atha

John Barber

John Bart

Sibyl Beckett*

Michael and Sompson Betz

Elizabeth Bolotin

Eleanor Bookwalter

Joseph and Susan Bower

Cynthia and Joel Bradley

Erin Brayton

Walter Brissenden

Edward and Rozann Britain

James Broucek

Gail Brown

Ruth Bruch*

Barbara Buch

Eliot Burdett

Samuel Burr

Jane Bush

Cadwallader Design, Inc.

Fleurette Carleen

Carol Tyrrell Kyle Foundation

Christine Chen

Brad and Amanda Cherry

Renee Conforte

Cook Callender Sayeed Foundation

Tracy Cullander

Robert and Susan Cushman

Robyn Daly

Daniel Lynch Foundation

Ralph Daniels

David F. and Sara K. Weston Fund

Mark Dexter and Deborah Cowley

Katharine and Mark Dickson

Kay Diederich

Richard Divinski

Betty Dodson

Irene and David Dyer

Via Esperanza

Evelyn Ferguson

Richard Fink

Walter and K. J. Fortney

Jeanette French

Jane Frydman

Marion and Gerald Galison

Eileen Gilman

Rolf and Julie Goetze

*denotes deceased

30 2015 FINCA INTERNATIONAL ANNUAL REPORT 31

Kathryn Graham

Robert Granieri

Peggy and Samuel Gutterman

Leslie Harsch

Iris Hartog

Margaretta Hausman

John Hester

Konstanze and Robert Hickey

George and Ann Hunter

Elizabeth Ivy

J. Donald Carpenter Foundation

John Hung Foundation

Judy Judd

Jeffrey Kalan

Angeliki Keil

Edward Kiefhaber

Jim Kinsella and Robert McNeal

John Klein

L. Knock

Colleen Kochanek

Martin Krippl

Beverly Krivokapich and Glenn Ducat

James and Leslea Kunz

George and Marlys Ladd

Thomas Lehrer

William Leininger

Josef Leitmann and Niimi Reiko

Luck Family Foundation

Alexandra and Thomas MacCracken

Mary MacGregor and Phil Lieberman

Susan Madian

Mark and Mary Ellen Stinski Foundation

Tim Martens

Carmel Mask

Richard May

Wilma McCoy*

Donna McMillan and Carrie Blazek

Rich Meehan

Daniel Meek

Jay Miller

Donna Moniz

William and Ann Naftel

Bonnie New

Douglas and Karin Newcomb

Roger Newton

Martha Nordsieck

Leslie O’Loughlin

Olson Family Foundation

Frank Pearce

Alan Pemberton

David and Ann Perkins

Leslie Petteys

Elizabeth Pollack

Elizabeth Porcello

Richard and Janet Post

Aaron and Arleen Priest

Linda and Ahmed Raiss

Rudy and Alice Ramsey

Raymond Family Foundation

Janet and Norvin Richards

Frank and Joan Ritchey

Rita Rodriguez and Eugene Carter

Lynda Rose

Julius Rudel*

Joseph and Veda Rugola

Mark Sanders

Miriam Sayeed

Elly Scheman

Edwina Schulman

Ralph Scoville

Scudder Family Foundation

Brenda Senturia and Gary Cooper

Fred and Marggi Seymour

Ronald Shaw

Jon Shell

Suzanne and Scott Shenk

Simple Actions Family Foundation Inc.

Peter Siegel and Hope Stevens

Reba Siniscalchi

Gary and Margaret Smith

Harold Spaeth

J. Blair Spillman

James Spurlock

Leigh Stamets

Debbie and Pat Starke

John Sullivan

Michael Sullivan

The Audrey & Sydney Irmas Charitable Foundation

The David Aronow Foundation, Inc.

The Elsie Proctor van Buren Foundation

The P & P Murray Foundation

The Susan, Sarah and Nicholas Latremoille Fund

Rebecca Thomas and John Pitlick

James Tyler

Linda Venner

John and Kimberly Waldron

Margaret and Walter Wales

John Watts and Carol Petsonk

Robert and Renate Wegner

Emily Wey

Nancy and Monty White

Nancy Whitney

Karen and Stephen Wiel

William Ewing Foundation

Wolff Family Foundation

Josie Woodman

Ruth Yeazell

Zaitlin-Nienberg Family Fund

Hannah Zalinger

$1,000-$2,499Anonymous (9)

Janet and Gregory Abels

Kristen Abraham

Susan Ackerman

Gregory Adams and Jill Greenwald

Shirley Adams

Audrey Ades

Kenneth Adler

Richard and Karen Adler

Susan Agate and Michael Slutsky

Barbara Agosin

Shelly Ahmann

Barry Albano

Sarah and Stephen Albright

Lawrence Aldridge

Gregory Allen

Susan Almy

Richard Alper and Kate Herrod

Lynne Altwerger

William Amneus

Elizabeth Anderson

Anderson Fund Foundation

Ann & Mike Rosenthal Family Foundation

Robert Anthony

Antonella Antonini and Alan Stein

Alan and Helen Appleford

John Armitage

Diane Armstrong

Kenneth Armstrong

Scott Arnot

Arthur and Charlotte Zitrin Foundation

Jefferson Asher

Nancy Atherton

James Attwood and Leslie Williams

Iris Auerbacher

Stephanie Augustyniak

Roger and Ann Avery

Suzanne Bahmanyar

Bridget Baird

Tricia Baird

Arnold Baker

Charles Baker

Judith Baldwin

Armine Banfield

Stephen Bany

E. Bard

John Bare

Susan Barnett and John Young

Michael Barr

Rosemary Barrett

Donna Barten

Abraham Bass

Bassett Foundation

Jane Batten

Benjamin and Susan Baxt

B. M. Bayne

Marilyn Beach

Charles Bean

Jane Bean

Kimberly Beattie

Karen Beck

David Becker

Sheri Beckler

Duane Beckmann

Carol Beechy

Robert and Marie Behnke

Pamela Beil

Richard and Joan Belliss

James Bennett

Frances and James Berger

James Berger

John Bergeron

D. Wayne Berman

Eleanor and Richard Berry

Mildred Berryman

Sue Berryman

John Bettencourt

Fred and Betty Bialek

Noel Biesik

Margaret Biggar

Judith Billings

Beth Elaine Birky

Boris Birmaher

Mary Bittner

Diana Black

Hille Blackshaw

Terry Blatt

Kenneth Bley

Jerry Bloch

Janice Bloom and Adam Grumbach

Karl Bloom

B. Blount

Patricia Blount

Richard Bobbe

Carol Boerner

Shirley Boll

R C Bond

Carol Borden

Margaret Borkin

Joseph Borodach

Joseph and Mary Borzelleca

Steve Bottle

Ward Bouwsma

J Boylan

Marion Boyle

William Braden

Neil Brandon

Lewis Brannon

Dennis Breen

Robert and Ann Bretscher

Stanlee and Elizabeth Brimberg

Mark Brodie

Karl and Romkaew Broehm

Leo and Vivian Broks

F. Brooks-Hill

Carol Brouse

Charles and Joan Brown

Karen Brown

Stanley Brown

William Brown

William Browning

James and Eileen Bruce

Joe Bryant

Edward Buckley

Thomas and Deborah Buechner

Margaret Burkhart

Burlingame Foundation

Richard Byrd

Norman Cadman

Gretchen Cahn

Margaret Cain

Robert Caiola

Robert Callaghan

Mary Callahan

Donald Cameron

Harriet Campbell

R. H. Campbell

Michael Caputo

Judith Carroll

Janet Carter

Pearl Caslow

David Catterson

Melissa Cavaghan and Paul Heift

Cairine Cavanagh

Cathcart Millennium Foundation Inc.

Cathy and Richard Cavell

Vija Celmins

Kristina Cerny

Karen Chapman

Miriam Chapman

Brian and Allayne Chappelle

Kathleen Cheevers

Ellen Cherniavsky

Helen Chester

John Chin

David Chleck

Wayne Choi

William Christensen

Theodore Chu

Catherine Churchill

Eugene Claeys

Martha Ann Clark

Richard and Jean Clarke

Mark Clausen and Alice Star

Suzette Clayton

Sandra Clements

Cliff and Deborah White Family Fund

Douglas and Kathryn Cochrane

George Cocks

Diane and Robert Coderre

Naomi Cohen

Jon Cohn

Elizabeth Coker

Lin Florinda Colavin

Clarence and Joan Coleman

Michael Collins

The Road to Inclusion*denotes deceased


Terri Colosimo

Spencer Commons and Martha Gates

C. Thaddea Compain

Donald and Barbara Connolly

Megan and Christopher Contakes

Raymond Jervis Cooke

Donna Cooper

Patricia Corbell

M. Cordice

R. and Chloe Cornell

Cottle Family Foundation

Christine Cottrell

Keith Cowan and Linda Walsh

Nancy Craig

Margaret Crone

Calvin and Lois Crow

Amory Cummings

Phyllis Curtis

Francis and Germaine Czarnecki

Joanne Dale

Diane and John Dalsimer

Suzanne Dalton

Stefano D’Angelo

Sally Daniel

Daniel Hartnett Family Foundation

Jamini Davies

Jeffrey Davies

Karen Davies

Norma Davis

Nancy de Groot

James Degroot and Linda Roy

Julie Delabbio

Ann and James Deline

Kathryn Derry

Diana and Mark Develyn

Janet Devine

Carol Devoss

Joan Diamond

Marilyn Dickey

Roberta Dickinson

Deborah Diebold De Naveja

James Dinneen

Jay and Lisa Dinowitz

Directions for Rural Action Fund

Lionel and Debra D’Luna

Doberstein-Lee Administrative Trust

Doehring Foundation

Paul Doerksen

Catherine Doll

Anna Dombrowski

Mary Donley

Diana and Thomas Donnelly

Vincent Donovan

Sandra Dooley

Doolittle Fund

James Dougherty

James Douglas and Alexandra Harmon

Paul Dowsett

Stephen Drew

Joan Drury

Pierre Duchaine

Leda Duck

Douglas and Ann Dumas

Willa and Don Dumka

David Dumoulin

Jack Duncan

John Dunn

Thu Duong

Craig and Sue Dupler

William and Catherine Durako

Yarrow Durbin

Glenn and Christine Dyer

Robert Eberle

John Edlund

Kemerer Edwards

Leonid Eidelman

Charles Eilers

Frederick and Kimiko Ek

Bobbie Ellaissi

Judith Elliot

Ellis Goodman Family Foundation

Priscilla Elwell

Margaret Engel

Helen Enslow

Elaine Epstein

Richard Eshleman

Deborah Eveans

Mark and Deborah Eveans

Davilyn Eyolfson

Leo Faddis

Joan Fanning

Sue Farmer

Mark and Karen Farnan

Emily Fenster

Mike and Nancy Fenton

Robert and Geraldine Ferguson

Gary Ferman

Ferris Family Charitable Fund

Robin Figueroa

William Fillmore

Dale Finkenbiner

Dorothy Finley

Alan Finnis

Frank Finsthwait

Joachim Fischer

Sue Fischlowitz and David Roberts

Scott Fish

Louise Fishman

Stephen and Lana Fitzpatrick

Jennifer Flaherty

Maureen Flanagan and William Groneman

Molly Fleischner

Lynda Fleming

Ellie and Art Florack

Patricia Fluhrer

Bill Foege

John and Marie Foley

Katherine Foley and Scott McMahan

Catherine Fonseca de Madrid

Edison Foret

Dianna Foshee and Valton Stephens

Marguerite Foster

Foster-Davis Foundation

Florence Fowlkes

Kurt Fox

Rachel Fraser

Jack Freeman

Jon and Jeannette French

Eduard Frensch

Ian Frensch

John Friedlander

Laurel Friedman

Luke Friendshuh

Joyce Froot

Robert Frueh

Jed Fuhrman

Charles Fuller

Therese Fumich

Karen Fussy

John Gabriel

Kathleen Gaffney

Elaine Gale

Nancy Gallt

Virginia Galvin

Debbie Gamble

Helen and William Garrison

Savitri Gauthier and Douglas Fambrough

Stephen Gelardi

Paul Gensheimer

Marika Geoghegan

Lawrence George

Venita Georgieff

Katya Gerwein

Nga Gilgan

Bruce Gillam

Robin Gilmartin

David Gimbel

Judith Gladbach

Mary Lou Gleason

Constance Golas

Ora Goldman

Deborah Goldsmith

Ruth and Richard Goldstein

Emilio and Cecilia Gonzalez

Susan Goodman

William Goodman

David Goodrich

Katherine and Michael Gordon

Shari Gore

Ronald and Beverly Gori

Gail Gorlitzz and Cris Smith

John Gorsuch

Peggy Goss

Patsy Graham

Gregor Grant

Joseph Graunke

Neil Graves

Bette Jo Greenberger

Scott and Linda Greene

Linda Griffith and Scott Kellogg

Susan and Charlie Grigg

Amanda Grim

Jennifer Grimes

Lindy Guttman and Bob Stromberg

Henry Gwiazda

Leslee Hackenson

Anisah Hadli

Mary Haering

Robert Hagge

Lynn Hagman

Susan Hahn

Emmett and J. Hale

Alice Hall

Grace Hall

Richard Hall

Deborah and Donald Halliday

James and Ingrid Halstead

Hammond Family Foundation

Maureen Hand

Thomas Hanna

The Road to Inclusion

ON THE ROAD IN FINCA VANS

In Pakistan, where less than 10% of the population has access to banks, loans or other financial services, FINCA is using innovative methods to reach more people. In rural areas, where access to financial services is limited at best, many have to travel far to find a bank branch if they want to deposit money or take out a loan. FINCA has been bringing the services of a branch straight to dairy farmers in remote villages, using vans.

Since December 2014, our staff in Pakistan have been driving two FINCA vans to the rural areas of Punjab to help low-income farmers and small business owners open accounts, apply for loans, deposit cash and transfer funds. Each van is connected to FINCA’s banking network through satellite connectivity, which updates the client’s account in real time.

Since the van program was launched, more than 450 people have been able to take out loans for the first time in their lives, making it easier for them to expand their businesses or save for the future.

Photo: FINCA Pakistan Staff


David and Margaret Hannay

Willard and Mary Hannon

L. Hardison

Clifford Harrington

Lois Harrington

Kenneth Harris

William Harter

Peter Hartline and Rebecca Kucera

Marguerite Harvey

Rachel Harvey

Margaret Hassett

Patricia and James Hassett

John K. Hatch and Mimi Hatch

John K. Hatch Jr.

Paul Haughey

Jon Haumeder

Roy Havenhill

James Hayes and Catherine Keig

Hayes Foundation Charitable Trust

Ann Hayman

Henry Haynes

James Healey

Gwen Healy

James and Marilyn Hebenstreit

Linda Hedgecoth

Patricia Heil

Patricia Heinen

Josef Helfenstein

Maryanne Helffrich

Frederick and Lois Helleiner

Frank and Miriam Hellinger

Merrit Heminway

Bradley and Trudi Hennemuth

Patricia Henry

Trudy and Gary D. Henson

Dane and Susie Herbel

Cynthia Herndon

Jeff Herring

Kevin Herzog

Charles Hill

James and Margaret Hill

Thomas Hill

Daniel Hinkle

Manuel Hinostroza

Marilyn Hoegemeyer

James Hogan

Dale and Sherry Hohm

Charles and Bernadette Holdener

Helen Holman

Jeffrey and Peggy Holmes

Winnie Holzman and Paul Dooley

Mark and Dyan Houghton

Nancy Houghton

Natalie Houghton

Alice Houseknecht

Madeleine Houston

Jeremy Hunt Hovland

Rose Huculak

Margaret Hudson

Roger Hudson and Mary Martin

Tamara Hughes

Da Huh

Julia Huiskamp

John Hummel

Marietta Hurst

Robert Hurtubise

Tom Huth

Murray Hutson

Audrey Irmas

J & AR Foundation

Kathleen and Thomas Jacobson

Kenneth Jaffe

Robert Janes

James Janney

Martin Jardon

Allen Jedlicka and Wendy Brudevold

Robert and Sylvia Jesperson

Jewish Foundation of Greater Toronto

Ken and Beverly Jinkerson

Kathryn Johnson

Rebecca Johnson

Susan Johnson

Thad and Suzan Johnson

Mayette Johnston

Judith Jones

Garell Jordan

Jay and Susan Jostyn

Stephen Joyce

Edward Juda

Stephen Juelsgaard

K.L.M. Foundation

Emily Kahn

Karen Kallay

Dolores Katzenberger

Cathy Kaufman Iger

Nicolas Kauser

Betsy Keefer

Julie Keese

Elaine Keillor

Nancy Kennaway

Claudia and W. Keith Kennedy

Audrey Kenny

Patricia Kenschaft

Mary Kenslea

Coyla Ketchy

Jamil Khan

Namsik Kim

John Kindschuh

Gary King

Kirby Family Foundation

Gabriela Kiss

Philip Klabunde

Douglas Kleinsmith

Alan and Robin Kluger

Thomas and Kathryn Knox

Maritta Ko

Jan Koczera

Durema Kohl

Julie Kollman

Marlise Konort

Mary Koors

Liesbet Koromzay

Colleen Kovacs

Thomas Krajewski

Robert Kramer

Doris Kreling

Liza-Lee and George Kremer

Spencer Krueger and Mary Lefevre

Ruth Kruse

Herbert and Rosemary Kuehne

Steven Kuhn

Thomas Kurtz

Meredith and Joseph Kwiatkowski

Abigail Labelle

Ruth Lambert and Henry Harrison

Bill Lamoreaux

Ralph and Katherine Landry

Robert Langejans

Duane and Margaret Lansverk

Catherine Larned

Jose Latimer

Wayne and Karen Lattuca

Lawrence Schulman Family Foundation Inc.

Benjamin and Betty Leader

Harold Leasure

Janice Lee

Pearl Lee

Leestma Family Foundation

Margaret and C. T. Leinbach

Karen Leitch

Alfred Lemmo

Emily Lemole

Paul Lennon

Leo Model Foundation, Inc.

James and Michelle Leonard

Paul Leonard

Larry and Donna Lesh

Lester Poretsky Family Foundation, Inc.

Jerry Levine

Leslie and Marsha Levine

Andrea Levitt and Antoine Hatoun

Dennis Lidtke

William Lincoln

Audrey Linnes

Brian Lisse and Cindy DeRuyter

Scott and Stephanie Little

Karen Littlejohn

Angela Lloyd

Patricia Locke

Dorothy Lockspeiser

Collin and Susan Loewen

Carolyn Longacre and Michael Wilens

A. J. LoScalzo

Helen Lowry

Margaret and Noel Lowry

Alexi and Giada Lubomirski

Andrew Lucas

George Lucas

Susan Luckel

John Lucken

Marianne Luedeking

Richard Lundy and Lucille Goodwyne

Mary Jo Lusnak

Brian MacDevitt

John MacFarlane

Bruce MacIntyre

Antoine Macoule

Mary Madden

Michael and Emily Madigan

Richard Maiberger

Karen Makar

Belle and Jason Mann

Barbara Marcollo

Stephen and Nancy Markus

Victoria Marone

Linda Marsh

Lori Marshall

Margaret Marshall

Robert Marshall

G H Martin

Julia Martin

Ron and Barbara Martin

Maxine Martinez

Anne and Frank Masloski

John Mason

Ed Matson

Steve and Nancy McAlister

Susan McAllister

Jane McCabe

Brian McInerney

Robert and Dorothy McCabe

Carol McCallum

Michael McCants

Patricia McCarthy

Paul McCarthy

Marilyn McCloskey

Gerald McCoy

Marcia and David McCracken

Edward McCrea

Evelyn McDonald Howard

Janet McDougall

Thomas McElrone

Linda McGrew

Henry McHenry

Karen McIlvena

Henry McKean

David McKee

Margaret McKee

Lori McKinley

Martina and C. McLarney

James and Caroline McManus

Wanda McNeil

Caryl McNeilly and Robert Williamson

William McTurnal

Nina Meierding

Bruce Melrose

Stanley Mendoza

Prasanna Menon

Joe Mersol

Robert Messerschmidt

Steven Messina

Bruce Meyer

Judith Mich

Michael and Ina Korek Foundation Trust

Margaret and Gary Miles

Barry Milgrom

Karen Miller

Margaret and James Miller

Richard and Marlene Millikan

Cora and John Mills

Mary Mills

Sylvia Milosh

Christian Milton and Rana Nikpour

Lawrence Minton

Stephen Minus

Sandra and John Mitchel

Yukiko Mizogami

Patricia Montgomery

Era Moorer

Sheevaun Moran

Bozena Moravec

Phyllis Morgan

Donna Moroz

Elizabeth Moser

Margaret Moser

Margaret Moses

Carolyn Moss and Daniel Hawkins

Sara Jane Moss

James Moulton

Kenneth Mountcastle

Jawed Movania

Lou Moyer

David Moynahan and Crystal Wakos

MR-JWW Responsibility Fund

Peter Mullin

Fred and Mary Munson

Christine and James Murakami

Dennis Murphy

James and Lorna Murphy

James and Nancy Murphy

Robert Murray

William and Jane Murray

David and Melanie Mustone

Richard Muth

Katharine Myers

N. A. Taylor Foundation



Paul Nagai

Kristen Naidoo

Uday and Sangeeta Naik

Daryl Nees

Kathleen Neill

Catherine Nelson

Scott Nelson

Mary Jane Nevins

Jean Newcomb

Alec Newman

Jane Newman and Amy Lange

Peter Newman and Kathy Lang

John Nicholson

Guy Nicolas

Sarah Nordquist

Lowell Northrop

Tori Nourafchan

Dan Nowlan

Audrey Obrien

Marianne and John O’Brien

Thomas and Joan O’Connor

Virginia and Herbert Oedel

Carol Oettinger

Barbara O’Hearne

M. Emmett Omar

Michael and Mary Oothoudt

Eunice and Edward Ordman

Christopher Osgood

Joshua Otlin

Carol Oukrop

Mark Ousnamer

Paul Ouzts

Jean Owens

Patricia Padgett

Marvin Page

Leah and Perry Pahlmeyer

Lawrence Palladino

Catherine Parent

Rebecca Parsons

Michael Pawlowski

Isabel Pedersen

Marjorie Peik

Dona Lou Peirce

Jessica Peirce

Caroline Pelton

Gary Pelton

Claudia Pereles

Elizabeth Peters

Geraldine Peters

Robert Peters

Robert Petrello

Craig Pettibone

Lois Pettinger

John Pfister

Michelle Pfister

Quynhanh Pham

Stowe and Charlton Phelps

Philip and Daniele Barach Family Foundation

Jane Phillips

Paul Phillips

Rebecca Phillips

Gary Pierce

Margaret Ping

Xavier and Penelope Pi-Sunyer

Richard and Orah Platt

Patricia Pogue

Arlene Pollack

Steve and Robin Pollens

Lisa Pomerant

John Poole

Harold Popma

Posner-Wallace Foundation

Bruce Pottash

Robert Powell

Laura Prato

Sally Prestele

Randall Presuhn and Timothy Nguyen

Valerie Price

Ana Priu-Cambo

Joan Procopio

Kurt and Mary Jean Pronske

Daniel Purcell and Heather Hanly

John Purkiss

Roberta Quiat

Bart and Shannon Rabas

Kenneth Raedeke

Thomas Raedler

Joan Rahm

William N. Raiford

Elizabeth Rajam

Mark and Jacquelyn Ramba

Kathleen Ramsay

Richard Ramspacher

Janet Ranney

Isabelle Rapin

Carol Rathe

Jacqueline Ratner

Elizabeth Rattenbury

Ralph Ray

Claudia Rebaza

J. Reck

Arlene Reed

Rosemary Regis

Robert and Ann Regnier

Rochelle Reichert

Carole Reiner

Victor Reiner

Gordon Rempel

Christine Renier

Deborah Rennels and Angelica Leeds

Michael Revere

Mike Revere

Dawn Reynolds

Gerald and Christa Reynolds

Kathy Richardson

Hannes Richter and Synthia Scofield

Rebecca Ringer

William Ritter

Gay Roane

Cynthia Roberts

Elaine Roberts

F. Bruce and Nancy Roberts

Bruce Robertson

Laura Robinson

John Rockwell

Janet Roddy

Barbara Rodes

Patricia Rohan

Mary Romney

Paul Rooney

Emma Root

William Rose

Douglas Rosenthal

Doris Roskin

Dennis Rossman

Dale and Kiki Rothman

Barbara Rothweil

Susan Routt

Kevin Ruddell and Heather Kroll

Lee Ann Rummell

Peter Rush

James and Marjory Russell

Judith Russell

Justine Russell

Scott Russell and Martha Delaney

Ruth & Jack Glantz Family Foundation

Ruth Arnhold Endowment Fund

Joyce Ryan

Robert and Frances Rye

Gary and Darlene Sackett

Deidre Sacra

Patricia Safavi

Barbara Salas

Carolyn Salon

Ernest and Patricia Sammann

Hartej Sandhu

Katherine Sanford

Aayush Sanghrajka

Jane Santogrossi

John Sapienza

Ann Satterthwaite

Stephen Saul

Kathy Savage

Sarita Sayre

Elliot and Rosel Schewel

Juliette Schick

M. Schiel

James Schley

John and Diane Schlitt

Joseph Schmidt

Helen Schneider

Kristina Schneider

Evelyn Schneirsohn

Libbie Schock

Taylor and Kimberly Schollmaier

Elizabeth Schopler

Lois Schrantz

Theresa Schreiner

Martha Schuh

Ann Schultz

Jocelyn and Peter Schultz

Reynold Schwabe

Gary Schwartz

Roy Schweyer

John Schwiebert

Rupert Scofield and Lorraine O’Hara

Stephanie Scott

Diana Scully

Dale and Judy Seborg

Seidman Family Foundation

Jean Seiler

James and Debra Semrau

James Seward and Julie Karcis

Shahriar Shahida

Harriet Shapiro

Stephen Shatz

Carrie Shearer

Diane Sheldon

Clydene Shepherd

William Sherwood

Eric and Carolyn Shettle

Mary Shields

Larry and Cheryl Shirley

Martha Sholes

Martha Sibert

Martin and Felicity Sidwell

James Siebert

Peggy and Daniel Siegel

Penn Siegel

Anne Sigleo

Barbara Simmons

Allen Simon

Elizabeth Simon

James Simpson

Michael Simpson

Oswald Sitwell

Anne Slichter

Louis and Jean Sloss

Alice Smith

Lisa Smith

Michael Smith and Nora Demleitner

Mike Smith

Rosemary Smith

Steven Smith

William Snypes and Suzanne Suter

Judy Soley

Tana Sommer-Belin

Charles Sonnek

Soroptimist International

Sandra Soye

Will Spence

Elizabeth Spencer

Margaret Spencer

Eric Spika

Helen Squires

David and Ann St. Germain

Shelley Stallings

Donald and Sylvia Stanat

David Stanislaw

Anthony and Sybil Stathoplos

Diane Staves

Marion Steeg

Donnalee Steele

Ronald Steele

Dave Stein

Loren and Carol Steinhauer

Irene Steinman

Julia Steinmetz

Diane Stephens

Martin Sticht

Sheila Stiles

Carl Stine

Brett Stineman and Linda Larkin

Todd Stivland

Larry Stolzenburg

Kathy Stolzfus

E. Marvin and Cynthia Stouffer

David Stout

Strategic Charitable Giving Foundation

Edward Stuart

Chung-yi Su

Annie Sullivan

Ann Kristin Sundell

William Suter

Seiichiro Suzuki

Grace Swanson

Judith Sweeney

Steve Szymanski and Caroline Zug

James Takamiya

Ralph Talmage

John and Susan Tappeiner

Jan and Nancy Tarwater

Bill and Marilyn Taylor

John and Pat Taylor

Janice Tazelaar

Phoebe Telser

Robert Temple

William Tennis

Charles Test

The Charles E. and Charlotte T. Curry Foundation

The Foley Family Fund

The Fund for Community Well-Being

The K Foundation

The Larry David Foundation, Inc.

The Max and Florence Minsky Goldstein Family Foundation

The Nancy Cogen & Jim Wason Fund

The Pete & Rebecca Helme Fund

The Screen Porch Foundation

Carol Thomas

Linda Thompson



Lori Thompson

Peter Thomson

Richard and Nina Thomson

Richard and Suzanne Thweatt

Jennifer Tipton

Margaret Tolzman

David Tonjes and Karen Galindo

Janice Torbet and Stephen McLaughlin

John Tornquist

Patricia and Daniel Torrington

Maria and Matthew Tracy

Kenneth Trotter

Andrea Troutman

Ann Troy

William Troy

Randy Tucker

Wilma Tucker Muse

Rodham Tulloss

Judith Turner

Patricia and John Turner

Karen Uhlenbeck and R. Williams

Marie Underwood

Margot Unkel

Kathryn and Martin Urberg

Jeffrey Urbina and Gaye Hill

Lukas Utiger

Grace Van Etten

Elizabeth Van Hunnick

Gail Vanovitch

Carmen Velasquez-Hernandez

Mark Verlinden

Gregory Vesper

Niti Villinger

Carl Vinson

Milton Viorst

M. Visser

Timothy Vo

Carol Voorhees

Marcia and Ira Wagner

Brooke Walker

Alisha and Lance Waller

Barbara Waller

Linda Walsh

William Warburton

Frank and Ada Warner

Glenn Warner and Marguerite Davis

Philo Wasburn

John Watkins and Allison Howard

William Webber

Peter and Michelle Weeks

Wege Foundation

Paul Weiden

Mark Weigel

Steven Weinberg

Kenneth Weingardt

Lonnie Weinheimer

David and Patricia Weissner

Jonathan Weitzman

Valerie Wendling

William and Mandy Westerkam

Michael Wessels and Patricia Maher

Henry Weyerhaeuser

Charles Wheatley and Kimberly Reeves

Robert Wheatley

Noah Wheeler and Amanda Cooper

Thomas Wheeler

Harold White

Sharyl White

Luke Whitesell and Catherine McLellan

John and Jennifer Whitney

Ronald Wielage

Doug and Connie Wierman

Thomas Willett

Anna-Leila Williams

Emily Williams

Richard Williams

Robert Williams

William Williamson

Janet Willis

Walter and Joan Winter

Elaine Witteveen

Ralph Wittman

Bradley Wolff

Lisa and Chad Wolfond

Lauren Wong

Anna Wong Leung

Frances Wood

George Wood

Jean Wood

John Wood

Harriet Woods

Anna Wooldridge

Kathleen Wronski

Sandy and Barry Yatt

Robert Yeomans

Victor Yngve

Robin York

Peg Yorkin

Marie Yovanovitch

Kuan Yuan

Thomas Zach

Pat Zaharopoulos

Joyce Zaitlin

Ed Zerylnick

Deborah Zimmer

Joseph Zuercher

Jay Zukerman

CorporationsAkol Avukatlık Bürosu

AmazonSmile

Boivin Desbiens Senécal Letendre LLP

Cereal Ingredients, Inc.

Chicago Trading Company

Citi Foundation

Clifford Foundation

Clifford Chance LLP

Covington & Burling LLP

Credit Suisse

Dentons US LLP

Diamondston Foundation Inc.

Early Road, LLC

Food Trends, Inc.

Freshfields Bruckhaus Deringer LLP

Gilbert’s LLP

Google Inc

Great Plains Analytical Laboratory, Inc.

Integrated Direct Marketing

John Laithwaite Partners

K. Gammon & S. Ferracuti Medicine

Latham & Watkins LLP

LPL Financial

MasterCard Worldwide

Mgaloblishvili Kipiani Dzidziguri (MKD)

Microsoft Corporation

October Farm

Oppenheimer, Wolff & Donnelly LLP

Orrick, Herrington & Sutcliffe LLP

PayPal Gives

Reed Smith LLP

Roxann Stoski Medical Corp

Swiss Capacity Building Facility

T. H. Yu Medical Professional Corporation

The Refinery

World Bank Community Connections Fund

FoundationsThe Clifford Chance Foundation, Inc.

Ford Foundation

The MasterCard Foundation

The Rumsfeld Foundation

Whole Planet Foundation

WildHearts Ltd.

Government and Multilateral InstitutionsAgribusiness Initiatives Trust (Abi Trust)

Asian Development Bank (ADB)

Financial Sector Deepening Uganda

FMO

Fonds Pour L’Inclusion Financiere en RD Congo

Inter-American Development Bank (IDB)

Inter-American Investment Corporation (IIC)

International Finance Corporation (IFC)

Kreditanstalt fur Wiederaufbau Bankengruppe (KfW)

Oesterreichisch Entwicklungsbank AG (OeEB)

Regional MSME Investment Fund for Sub-Saharan Africa (regmifA)

United Nations Capital Development Fund (UNCDF)

United States Agency for International Department (USAID)

United States Department of Agriculture (USDA)

Private Voluntary OrganizationsACCION International

Bay Area Universalist Church

Church of Religious Science

First Congregational Church

First Presbyterian Church

First Unitarian Church of Oklahoma City

First United Methodist Church

Mile High Friends of FINCA

Rancho Bernardo Community Presbyterian Church

Silverside Church

St. Paul’s Anglican Church

St. Xavier High School

The Human Rights Project Inc.

United Methodist Committee on Relief

Legacy SocietyThe following individuals have named FINCA as a beneficiary in their wills.

Caroline Adams

Daniel Altilio

Terry Andrews

Alan and Helen Appleford

David Bard

Belinda Barington

Deborah Barto

Richard and Marilyn Batchelder

Ann Bein

Dorothy Benavides

Audrey Beukenkamp

M. Judith and R. Bruce Billings

Joseph and Susan Bower

Marian Breckenridge

Mary Brendle*

Rick Browne

Sally and Leonard Burdock

Kenneth Burrows

James Caffery

Carolyn Carlat

Diane Cavenee

Melanie Chadwick

Thomas and Janice Chamberlin

Heather Chisholm

Eugene Claeys

Tim Clauss

Barbara Crook

Don Dietz

Kathryn DiGiorgio

Raymond Dobkin

Susan Dodd

Norman Dudziak and Damaris Rohsenow

Nancie and Mauritz Erhard

Joen Fagan

Lucy Fairbank

Jo Ann Field

Ray Ganey

Emily Garlin

Arlee Geary

Jack Goggin

Steve Goldstein

Margaret Gossage

John Gustin

Linda Gutmann

Lindy Guttman and Bob Stromberg

Doris Haggard

Dita Hatch*

Robert and Nancy Hatch

Rob Hatch and Marian Saksena Hatch

Maryjude Hoeffel

John Hoffman

Carol Hollworth

Thomas Hooley

Katherine Hufnagel

Brian Hughes

Mona Jibril

Keith Johnson

Doresa Jones

Kathy Kaiser

Christine Bullock Kasman*

Marie Kellogg*

Marjorie Kemp

Ann Kempees

Christine Keyt

William Kilgour

James and Janet Kimble

Douglas Kleinsmith

K. A. Krick

James and Leslea Kunz

Jeffrey Lalande

Margaret and C. T. Leinbach

James Licata

Rosemary and David Logan

Richard Lundy and Lucille Goodwyne

B.R. Marchand

Jeannine McCormick

Frances McGown

Regina Michaelis

Louise Michlin

Darlene Mikula

Lisa Miller

Terri Mockler

Peggy Moore

Delano and Luzetta Newkirk

Peter Newman and Kathy Lang

William and Marsha K. Nickels

The Road to Inclusion*denotes deceased


Ways to SupportYour support enables poor families to build their own incomes,

grow their businesses, access life-changing solar products and

have a positive impact on their own communities.

There are so many ways to support FINCA’s work:

One-Time Gift: Your support will help to fuel the businesses of nearly 2 million people. FINCA.org/donate. For Canadian donors, FINCACanada.org. For United Kingdom donors, FINCAUK.org.

Monthly: Become a monthly donor and create a reliable source of funds that sustain new microloans to low-income individuals. FINCA.org/sustain

In Memory: Honor a loved one with a donation in memory or in celebration. FINCA.org/honor

Stocks: Make a gift of stocks, bonds or mutual funds. FINCA.org/stock

Double Your Impact: Many companies match employees’ gifts dollar for dollar. Contact your human resources department to see if your company has a matching gift program.

Legacy: Join our Legacy Society by including a bequest to FINCA in your will. FINCA.org/legacy

John and Margaret Parke

Sandra Perkins and Jeffrey Ochsner

Vivienne Perkins-McLean

Sally Pierson

Katie and Michael Place

Junius Powell

William Raiford

John Rau

Alfred and Connie Remetch

Victoria Repen

Anna Reynolds

Phillip Richman

Michele Risa

F. Bruce and Nancy Roberts

Sara Rothmuller

Tracie Rowson

Ellen Russak*

Chris Sanders

Lynne Schreiber

Rupert Scofield and Lorraine O’Hara

Catherine Scott

Priscilla Shaw*

Carrie Shearer

Wanda Shirk

Diane Short

John Shugars

Nancy Sienknecht

Raymond Sinetar

Rhea Singsen

Nancy Solomon

Janet Spector

Robert and Faye Spencer

Ruth Stahl

Mary Steele

Bill and Susie Thorness

Roger Tiemann

Ann Tiernan

Linda Van Buren

Constance Vanvig

Robin Velte

Barbara Wade

Mark Wales

Thomas and Barbara Weakley

Karen and Stephen Wiel

Priscilla and Rodney Wilson

Maxine Wolf

Julia Wood

Lucy Wyatt and John Mattinen

Jan Zlotnick

Circle of Hope FINCA gratefully acknowledges the more than 3,000 Circle of Hope members who support our efforts to alleviate poverty by making automatic monthly contributions. To become a sustaining member of the Circle of Hope, please visit FINCA.org/sustain.

LendersACBA-Credit Agricole Bank

Araratbank

Ardshininvestbank

ArmSwissBank

Asian Development Bank (ADB)

Austrian Development Bank (OeEB)

Banamex

Banco Agromercantil de Guatemala

Banco Atlantida

Banco G&T Continental

Banco Internacional

Banco Produzcamos

Banco Reformador

Bank Alfalah

Bank im Bistum Essen

Banka Ekonomike

Banka per Biznes

Banorte

Black Sea Trade and Development Bank

BlueOrchard Finance

Cairo Amman Bank

Calvert Foundation

Citibank

Corporacion Financiera Nacional

Credit Suisse

Deutsche Bank

Developing World Markets

Dreamcatcher Fund

Egyptian Arab Land Bank

European Bank for Reconstruction and Development

European Fund for Southeast Europe

FINCA Microfinance Fund B.V.

First Merchant Bank Limited

French Agency for Development (Agence Française de Développement—AFD)

Frontiers

Fundación José María Covelo

Global Partnerships

Greater Horizons

Greater Kansas City Foundation

Incofin Investment Management

Inter-American Development Bank

Inter-American Investment Corporation

International Finance Corporation

Jordan Kuwaiti Bank

JS Bank

KfW Development Bank

Langley Hill Friends Society

Locfund

MFX Solutions

Microfinance Enhancement Facility (MEF)

Microfinance Growth Facility (MigroF)

Microfinance Investment Facility for Afghanistan (MISFA)

MicroVest Capital Management

Nacional Financiera (NAFIN)

Netherlands Development Finance Company (FMO)

NIB Bank

Oikocredit

Overseas Private Investment Corporation (OPIC)

Pasha Bank

Perls Foundation

Prodel

Prometey Bank

Proparco

Rabitabank

Regional MSME Fund for Sub-Saharan Africa (REGMIFA)

responsAbility

Société Générale de Banque Jordanie

Symbiotics

TBC Bank

The Currency Exchange Fund (TCX)

The World Bank

Triodos Investment Management B.V.

Triple Jump

UBL Bank

Union Bank

USAID/Development Credit Authority (USAID/DCA)

Watson Investments B.V.

Whole Planet Foundation

WildHearts Limited

Woodlands Investment Management

41The Road to Inclusion*denotes deceased Photo: FINCA Staff

Mission

To alleviate poverty through lasting solutions that help people build assets, create jobs and raise their standard of living.

Vision

To build a global network of sustainable and scalable social enterprises that improve lives worldwide.

FINCA.org | FINCACanada.org | FINCAUK.org

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