Opportunity International Annual Report 2010

side by side annual report 2010

Finding Opportunity together Loan Officer Robert Mayawo stands alongside Victoria Kalimakhobwe as she sells her homemade bread in the Ntchisi district of Malawi. Opportunity loans and business training with Robert have helped Victoria expand her business and get closer to her dream of building a house and saving for her four children’s education.

OPPORTUNITY

INTERNATIONAL Our vision is a world in which all people have the opportunity to provide for their families and build a fulfilling life.

Our belief is that small-scale entrepreneurs can be big change agents in overcoming global poverty.

Our mission is to empower people to work their way out of chronic poverty, transforming their lives, their children’s futures and their communities.

Our method

side by side in ghana On the front cover, Opportunity Agricultural Finance Officer

Abena Agyakowa Nketha Sarpong counsels cocoa farmer Beatrice Duku Frimpomg Boaten in the Ashanti region of Ghana.

Abena helped Beatrice obtain her first savings account, loan and insurance policy with Opportunity. Serving as mentor and trainer, Abena says the changes she sees in clients like Beatrice are a constant source of inspiration. “My greatest reward is seeing our clients say goodbye to poverty. It’s also very soul-satisfying that Opportunity allows me to utilize my business skills while expressing my faith.”

Beatrice is grateful for Abena and Opportunity. Since becoming a client, she can afford necessities like soap and shoes. And she has improved her farming and gained authority and respect in the

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is to provide microfinance services, including lending, savings, insurance and transformational training, to people in need. To do this, we build and work through sustainable, local microfinance institutions.

Our motivation is to respond to Jesus Christ’s call to love and serve the poor.

community. “With Opportunity, I feel I have joined a family I can call on at any time,” says Beatrice. “With their help, I know that I can achieve my goals, and that gives me hope for the future. Opportunity came along with the love and grace of God and I’m so glad!”

Read more about Abena, Beatrice and our work in Ghana on pages 8 and 9.

Two are better than one because they have a good return for their labor. For if either of them falls, the one will lift up his companion.

(Ecclesiastes 4:9-10) In this spirit, we stand with our clients side by side, neighbor to neighbor, as partners in the fight against poverty.

With your gracious support, we develop and deliver reliable, consistent microfinance products and services in communities around the globe.

Why? Because we know these powerful tools can provide the means to escape poverty. We have seen the difference that access to savings, loans and insurance can make: clients secure their earnings, grow their incomes and protect their families. Women gain power. Children go to school. Farmers move beyond subsistence. Communities are strengthened. Lives are changed.

For 40 years, God has asked this work of us and it is our great responsibility and joy to answer that calling. We are deeply grateful to all of you for serving alongside us.

BILL MORGENSTERN CEO

MARY LYNN STALEY Chair, Board of Governors

BETTY JANE HESS Chair, Board of Directors

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breaking down barriers

building

access • A n impoverished woman has no

Targeted to reach the most marginalized, Opportunity’s financial products help hardworking people overcome the inherent obstacles of poverty and build a more stable, secure and fulfilling life.

Throughout the developing world, people are excluded from access to financial services by barriers like meager, unsteady income; illiteracy; gender bias; expensive transportation and geographic isolation. To address these challenges, Opportunity carefully crafts savings, loan, training and insurance products in partnership with those in need.

With the help of efficient delivery channels, we can bring these customized products virtually anywhere—whether our clients live in a remote farming village or run a business in a sprawling urban market.

Satellite branches and mobile banks give us the flexibility to provide all the services of a branch close to the people, without the expense of building a traditional bank. ATMs, point-of-sale devices and cell phone banking technologies extend our reach even further by making it possible for clients to transact business in local markets and shops—or even from their home or business.

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formal identification.

Opportunity’s biometric technology allows her to open and access a savings account using only her fingerprint embedded in an ID card to give her recognition she never had.

• A baker can’t earn enough to feed her family.

With access to banking for the first time in her life, she acquires a $140 Opportunity loan and business training that she uses to increase her sales—and her profits.

• A child is sick and needs medicine.

His parents have set aside small sums in an Opportunity savings account, so they are able to purchase the $2 medicine for his care.

• A fruit vendor feels unsafe carrying her profits home from work.

With an Opportunity banking kiosk near her market stall, she can safely deposit her earnings.

far LEFT PHOTO: Annie Nyangomba smiles for the camera at Opportunity’s new branch in the Democratic Republic of Congo. Bank Teller Alma Romina takes the photo for Annie’s ID card as part of the process of opening a biometric-based account.

Insuring Access to Health Care Thousands of impoverished families now have access to affordable health insurance that covers pre-existing conditions and inpatient hospital treatment. Opportunity partners with insurance providers to offer coverage on a cashless basis for a small annual premium of just $10 in India and $40 in Tanzania.

serving the least developed countries toP Photo: When her baby needed care for malnutrition, Deepa Kahar (left) of Maharashtra, India, was relieved that her Opportunity health insurance covered the treatment and medicine. bottoM PHOTO : In Malawi, a grant from the Financing Facility for Remittances of the International Fund for Agricultural Development is helping Opportunity expand the availability of remittance services. Stella January can now conveniently transfer funds by phone without leaving her clothing business unattended.

According to the World Bank, 99 percent of the people in the Democratic Republic of Congo (DRC) do not have access to financial services. With support from the Un Capital Development Fund, Opportunity opened its flagship branch—the first of 12 branches planned for the DRC—in the capital, Kinshasa.

Now, many thousands of Congolese will have savings, loans, insurance and training, along with a new sense of hope for a better future.

Banking by phone Opportunity is bringing the bank directly to clients through innovative cell phone banking. Using just their phones, even geographically remote clients are able to make secure electronic payments, purchases and transfers without leaving their community. With cell phone usage growing quickly in developing countries, this service holds great promise for a scalable and sustainable solution to bring low-cost, convenient and reliable financial services to the unbanked.

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fostering

unlocking potential growth • A young girl has no chance to

Opportunity’s financial products, educational programs and business training help impoverished families, especially women, develop their capacity to the fullest.

Where poverty is the way of life, people’s potential is often overshadowed by the struggle to survive. But when equipped with the right tools, even the most vulnerable are able to change their own world and create a better future for their children. We stand alongside our clients with a mission to provide those tools—the financial products, educational programs and business training they need to move beyond poverty.

Seemingly simple opportunities like the chance to deposit money, receive a small loan, go to school or learn business skills can become transformative life experiences. Armed with resources and knowledge, our clients grow businesses, develop a steady income and create jobs for their neighbors. They gain confidence and find validation. And their potential to become powerful agents of social and economic change in their family and community is realized.

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get an education.

A local educator receives an Opportunity loan to open a neighborhood school and the child breaks a cycle of illiteracy.

• A seamstress can’t support her children.

Through an Opportunity Trust Group, she acquires a small loan to increase her inventory and begins to earn enough money for her family’s daily needs.

• A basketmaker opens a market stall, but barely breaks even.

Opportunity’s ongoing business training gives her new skills to help her become profitable.

• A displaced person can’t access banking services.

Even without ID or collateral, she acquires an Opportunity savings account, loan and insurance, giving her renewed hope and a sense of dignity.

far LEFT PHOTO: In Adomfe, Ghana, Malik Boateng teaches at the Great Owass Educational Complex, one of 120 schools in the IDP Rising Schools Program—a strategic alliance with Opportunity to provide educational loans and capacity building services.

Banking on Education Opportunity seeks to increase educational opportunities for children and help strengthen the communities in which we work. To do this, we offer school fee loans to help parents afford tuition, and provide customized business training with long-term loans, averaging $5,000, for school proprietors.

These ambitious entrepreneurs scale up their schools by adding classrooms, improving infrastructure and hiring qualified teachers.

Opportunity serves nearly 120,000 children with loans to 280 schools in Ghana, Malawi and Uganda.

Cultivating Leaders in Country toP PHOTO : Fruit vendor Sephina Macha (right) feels blessed that Opportunity loans helped her expand her business, making it possible for her children to go to secondary school. At her stall in Arusha, Tanzania, she meets with her loan officer, Mary Jacobs, who is one of our Emerging Leaders graduates. bottoM PHOTO : In San Jacinto, where so many are working to rebuild their lives following the violence and displacement that have plagued Colombia for decades, the Progress Trust Group is a source of hope. Here, Loan Officer Buenaventura Tapias Alvarez (left) leads financial literacy training for this group of entrepreneurial artisans.

As a partner in Goldman Sachs’ 10,000 Women initiative, Opportunity is opening doors for talented college graduates, loan officers and banking professionals to establish or advance a microfinance career in their communities. Through the Emerging Leaders Program, hundreds of young women in eight African countries receive locally adapted training in banking, management and finance.

EQUIPPING trust group members FOR LIFE Every week, in homes, churches and halls throughout the developing world, Opportunity Trust Group members come together to support one another and guarantee each other’s loans. These small-scale entrepreneurs participate in business, leadership and life skills training led by their loan officer, who also serves as each member’s mentor and advocate.

This collaborative approach empowers members to learn new skills, pursue dreams and take on leadership roles such as president of their Trust Group or chair of a local women’s council. As their businesses grow and relationships deepen, Trust Group members develop the courage to become employers and role models, helping them break free from the limitations of poverty.

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GROWing growing rural economies

developing

sustainability Customized to meet the needs of remote communities, Opportunity’s services spur

from somewhere, and I know

economic activity and provide enduring

Opportunity came in answer

resources for smallholder farmers and

to our prayers. I now have faith

other rural clients.

in the future and in my cocoa

In Ghana, as in most of the developing world, poverty has a firm grip on rural areas. That’s why Opportunity International is in rural Ghana, working side by side with people in need, developing tools that will have the most impact for those living at the margins. To reach these remote Ghanaian communities, we have opened over 40 points of access to Opportunity financial services, including two mobile banks. And for this isolated population that has had little opportunity to become educated, we provide training on topics ranging from finance to farming practices.

This mobilization in Ghana is made possible through our Banking on Africa campaign that aims to reach five million new clients in Africa by 2015. Here, and in 23 other countries around the world, Opportunity is helping clients build their livelihoods and leave poverty behind.

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“ We were really praying for help

farm because Opportunity is supporting us.”

Agnes Fosu Hene Agricultural client, Ghana

Right photo: At her farm in Nkrumah, Ghana, cocoa farmer Agnes (right) enjoys a conversation with her loan officer, Abena.

Frequent visits to client businesses and weekly Trust Group meetings result in deep connections between Opportunity loan officers and clients.

far left photo: Beatrice Duku Frimpomg Boaten (second from right) works joyfully alongside fellow members of the Nerebehi Cocoa Farmers Association in the Ashanti region of Ghana to dry out this season’s cocoa bean harvest. Support from Omidyar Network helps us bring innovative banking technologies to marginalized clients like these growers. left photo: Beatrice has built up over $30 in savings that she can access at an Opportunity mobile bank during weekly stops near her farm.

Beatrice is also shown on the cover with an accompanying story on page 2.

connecting farmers with Service Opportunity and partners like the john Deere foundation are creating a sustainable framework to increase food security and expand access to agricultural financing. Our approach helps farmers move from subsistence growing to cash crop production with agriculture-specific loans, savings accounts, crop insurance, effective fertilizers, drought-resistant seeds and technical assistance. We also guide them through the distribution process, providing linkages to agricultural markets.

Helping Cocoa Farmers in Ghana Every morning, Agricultural Finance Officer Abena Agyakowa Nketha Sarpong wakes up early to meet with cocoa farmers before they set out for their fields. She reaches out to hundreds of rural clients to provide financial literacy training and agricultural technical assistance as well as savings, loan and insurance products. With Abena’s guidance and Opportunity’s financial tools, her clients are making dramatic changes in their lives.

Families have money in the bank, food on the table and children in school. Some are even giving back by donating money for community projects like new water wells.

Supporting Agnes with Tools to Expand Agnes Fosu Hene’s primary concern is for her children to get the education she never did. Opportunity is allowing her to do just that. With Abena’s help, she received her first loan of $264 for agricultural tools—fungicide, gloves, a sprayer and respirator—that enabled her to increase her yield and the acreage she farmed. To manage the seasonal nature of her income, she now has a savings account so money is available year round for expenses like school fees. With each harvest, Agnes grows increasingly self-sufficient and more confident in her abilities.

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2010 highlights For 40 years, Opportunity has worked alongside clients and staff, individual donors, foundations and corporations to fight global poverty. These collaborations have made possible ever-increasing services that now impact the day-to-day lives of millions of people.

Opportunity clients…

Our staff…

secured savings and grew earnings through 788,300 savings accounts, with an average savings balance of $113.

was 12,414 members strong, of which 99% were nationals serving our clients in 24 countries.

developed businesses, increased incomes, provided for their families and created jobs for neighbors with 1,512,146 active loans.

included 7,011 loan officers who are at the heart of our work, offering support and counsel to every client.

protected their families with 1,366,515 life, health and crop microinsurance policies.

Trust Group members… collectively shared risk and guaranteed repayment with an average $142 first loan.

were 84% women, who improved the quality of life for their families.

TransformatiVE training…

allowed us to keep more funds circulating in new loans with a 96% repayment rate.

SAVINGS ACCOUNTS

(as of year-end)

700

2007

2008

2009

2010

0

2006

250

2007

2008

2009

2010

2010 totals do not include Opportunity’s microfinance institutions in Albania, Poland and Russia—sold in August 2010.

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1,016,507

thousands

562,101

500

0

556,382

100

750

338,131

200

107,931

300

1,000

337,343

400

200

2006

483,968

500

400

0

1,250

600

thousands

600

1,500

788,300

1,512,146

1,357,828

1,079,498

1,000

933,189

thousands

1,200

1,222,155

1,400

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(as of year-end)

800

1,600

800

insurance policies

(as of year-end)

1,366,515

ACTIVE LOANS

in business and life skills empowered 1,325,837 clients to experience personal growth.

2007

2008

2009

2010

Giving that Multiplies How a single contribution creates a cycle of economic growth

Every $100 = $137 Gifts are leveraged by client savings and commercial borrowings to significantly increase the size of our loan pool and provide additional funds for our work. On average, over the past five years, for every $100 contributed, the initial Multiplier Effect amounts to $137.

communities prosper

Dollars are recycled as loans are repaid and the money benefits an ever-growing number of clients and their families.

Communities prosper

new income is generated

Our Priority Countries

Other countries in which we serve

Colombia Democratic Republic of Congo Ghana India Kenya Malawi Mexico Mozambique Nicaragua Philippines Rwanda South Africa Tanzania Uganda

China Dominican Republic Honduras Indonesia Macedonia Peru Romania Serbia Zambia Zimbabwe

“ T he Caterpillar Foundation’s partnership with Opportunity International is making progress possible by supporting human sustainability initiatives around the world. Our Corporate Giving Challenge, along with our core investment, resulted in $6 million in 2010 for Opportunity’s cutting-edge initiatives, helping nearly 600,000 people in 24 countries achieve financial freedom, gain self-sufficiency and feed their communities. ”

— Douglas R. Oberhelman, Chairman & CEO Caterpillar Inc.

as new income is reinvested to grow businesses, employ neighbors and enroll children in school—creating an economic cycle of growth for every dollar contributed.

improved housing for families in colombia Program Manager Astrid Suarez (right) helped Tulia Pacheco (in white shirt) get a new concrete floor through a specialized floor and roof loan product in Arjona, Colombia. “I am grateful to God for creating a healthier home for my children,” Tulia says.

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financials

Opportunity International-U.S.

Highlights $s in thousands (unaudited)

2010

revenue Private cash contributions and pledges Government grants Reserves recorded against future pledges Total revenue before non-recurring activities Non-recurring activities Total revenue including non-recurring activities

2009

Change Amount

Percent

$ 35,213 1,627 (8,260) 28,580 4,188 $ 32,768

$ 40,124 4,011 (352) 43,783 4,705 $ 48,488

$ (4,911) (2,384) (7,908) (15,203) (517) $ (15,720)

(12%) (59%) N/M (35%) (11%) (32%)

expenditures Program activities Equity investments in Opportunity banks Grants for member operations Business development and training services Network support services Microinsurance services Other program expenditures Fundraising and general & administrative (G&A) activities Fundraising and G & A Total expenditures

$ 14,085 5,702 5,198 1,330 7,303 5,418

$ 6,332 3,521 4,288 1,898 5,427 6,033

$ 7,753 2,181 910 (568) 1,876 (615)

122% 62% 21% (30%) 35% (10%)

9,053 $ 48,089

9,298 $ 36,797

(245) $ 11,292

(3%) 31%

Third-party investments Equity and debt raised for Implementing Members

$ 30,327

$ 71,800

$ (41,473)

(58%)

$ 58,907

$ 115,583

$ (56,676)

(49%)

Total funds raised Fundraising and G & A as a percent of: Total revenue including special reserves Total revenue excluding special reserves Total funds raised

32% 25% 15%

21% 21% 8%

total funds raised in 2010: $58,907,000

client Savings Deposits (as of year-end)

Government grants

$60,000

$111,569,085

$90,000

$99,463,087

Private cash contributions and pledges

thousands

$120,000

$145,507,557

$150,000

$30,000

Third-party investments $0 Opportunity International raises funds from many sources, some traditional and some unique for nonprofits. From traditional sources, Opportunity International receives charitable gifts and government grants, which it sends to its Implementing Members in the form of grants, loans and equity investments. A portion of these funds is also used for fundraising and G&A activities. In addition to these sources of funds, Opportunity raises equity and debt from third parties for its Implementing Members that are directly invested in these organizations, shown in third-party investments above. The graph above depicts the funds raised from the various sources.

2008

2009

2010

In addition to the sources of funds shown on the left, Opportunity International has focused extensively on providing savings accounts to individuals over the last several years, as shown by the graph above. A portion of the funds on deposit at our institutions is available to make microfinance loans, reducing the need to raise equity and debt from third parties for the growth of our Implementing Members.

Complete audited financial statements by KPMG are available upon request.

Notes to Financials Financial statement presentation The financial information included in these statements was compiled from the financial statements of independent organizations. The Supporting Members’ statements reflect the combination of the revenue and expenditures and balance sheets of the five independent members in developed countries (Australia, Canada, Germany, United Kingdom and United States),

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without regard to ownership positions in certain Implementing Members. The Implementing Members’ statements represent a combination of the revenue and expenditures and balance sheets of the 39 Implementing Members, also without regard to ownership status. The statements are unaudited. Audited statements of the members are available upon request.

Equity ownership in affiliates Opportunity International-U.S. receives certain grants restricted for investment in 17 microfinance institutions. The investments provide start-up costs and funds for the revolving loan programs.

Opportunity International Supporting Members Supporting Members raise funds for our microfinance institutions.

Statement of Revenue and Expenditures

for the year ended december 31, 2010

$s in thousands (unaudited) revenue Private cash contributions and pledges Government grants Non-recurring activities Total revenue expenditures Program activities Equity investments in Opportunity banks Grants for member organizations Program development activities Total program services Fundraising and G&A activities Fundraising G&A Total fundraising and G&A Total expenditures Net

U.S.

2009

Outside U.S.

Total

Total

$ 26,953 $ 22,589 1,627 2,953 4,188 — 32,768 25,542

$ 49,542 4,580 4,188 58,310

$ 58,688 6,438 4,705 69,831

14,085 5,702 19,249 39,036

5,853 6,133 7,178 19,164

19,938 11,835 26,427 58,200

9,573 9,128 23,295 41,996

6,390 2,663 9,053

2,586 1,787 4,373

8,976 4,450 13,426

9,418 4,381 13,799

48,089

23,537

71,626

55,795

$ (15,321)

$ 2,005

$ (13,316) $ 14,036

balance Sheet

$s in thousands (unaudited)

december 31, 2010 U.S.

Outside U.S.

Total

2009 Total

assets Current Cash and cash equivalents Restricted cash and cash equivalents Current receivables Other current assets Total current assets

$ 2,782 23,872 11,213 2,652 40,519

$ 13,501 3,709 6,881 105 24,196

$ 16,283 27,581 18,094 2,757 64,715

Long-term Long-term receivables Capital in Opportunity banks Investments–other Net property and equipment Total long-term assets Total assets

19,581 66,128 23,972 431 110,112 $ 150,631

9,590 22,047 3,902 1,022 36,561 $60,757

29,171 31,165 88,175 62,852 27,874 34,186 1,453 925 146,673 129,128 $ 211,388 $ 196,519

$

— 4,294 4,294

$ 2,530 7,955 10,485

$ 7,933 3,682 11,615

194 4,488

14,918 25,403

13,717 25,332

liabilities Current Current portion of long-term debt $ 2,530 Accounts payable and other current liabilities 3,661 Total current liabilities 6,191 Long-term Total long-term debt and other liabilities 14,724 Total liabilities 20,915 net assets Unrestricted net assets Restricted net assets Total net assets Total liabilities and net assets

$ 10,522 28,826 23,534 4,509 67,391

77,936 45,900 123,836 88,187 51,780 10,369 62,149 83,000 129,716 $150,631

56,269 $60,757

185,985

171,187

Management Discussion and Analysis of Financial Statements Opportunity International-U.S. (page 12) Revenue

Primarily due to continuing fundraising softness resulting from the U.S. economic recession, private cash contributions and pledges to Opportunity International-U.S. were 12% lower in 2010. Revenue in 2009 included an $8 million grant from the Bill & Melinda Gates Foundation for groundbreaking work in agricultural finance. Opportunity InternationalCanada received an $8 million grant for similar work from The MasterCard Foundation. Government grants revenue declined by $2.4 million reflecting the absence of a UN grant received in 2009. At the end of 2010, it was determined that several pledges that were recorded as income in prior years, but were not scheduled for payment until the future, would not be fully realized. Accordingly, we recorded reserves against these future payments. Nonrecurring activities included gains on the sale of investments in microfinance banks in Eastern Europe. Opportunity International-US sold its holdings in Opportunity Bank of Montenegro in 2009 and in banks in Albania, Poland and Russia in 2010.

Program activities

Equity investments in Opportunity banks: Equity investments increased by 122% to $14.1 million in 2010. Investments were made in most countries due to rising needs in the field and the availability of funding from donor contributions.

Grants for member organizations: This expenditure increased by 62% in 2010, reflecting larger funding for our African microfinance institutions.

Business development and training services: The Opportunity International-U.S. expenditures for these services provided to Implementing Members by Opportunity International Network personnel were $0.9 million, or 21%, higher in 2010. These services include: (i) recruitment and training of personnel of Implementing Members, (ii) development of client training modules, (iii) performance and governance monitoring and (iv) technology improvements.

Network support services: Expenditures for Network support decreased by $0.6 million, or 30%. These services include building and managing Opportunity banks and overseeing the range of technical services provided to them in the Opportunity International Network. Also included are general management and governance of the Network and the cost of administrative services.

(continued on page 14)

$ 211,388 $ 196,519

Complete audited financial statements are available upon request.

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financials

Opportunity International Implementing Members Implementing Members are microfinance institutions that serve our clients.

Statement of Revenue and Expenditures

for the year ended december 31, 2010

$s in thousands (unaudited)

Africa

INCOME & EXPENSES Financial income Financial expenses Gross financial margin Provision for loan losses Net financial margin Operating expenses Net income from operations Other income (expense) Net income before taxes Provision for income taxes Net income

Asia

$ 55,660 6,722 48,938 3,406 45,532 50,774 (5,242) 44 (5,198) (179) $ (5,019)

$ 67,544 6,269 61,275 3,008 58,267 54,056 4,211 (35) 4,176 717 $ 3,459

Eastern Europe

Latin America

$ 19,921 6,798 13,123 3,789 9,334 12,242 (2,908) (204) (3,112) (144) $ (2,968)

$ 9,969 646 9,323 919 8,404 9,701 (1,297) 48 (1,249) — $ (1,249)

Eastern Europe

Latin America

Total

2009*

Total

Total

$ 153,094 20,435 132,659 11,122 121,537 126,773 (5,236) (147) (5,383) 394 $ (5,777)

$ 136,516 19,948 116,568 14,049 102,519 111,434 (8,915) 875 (8,040) 1,777 $ (9,817)

Balance Sheet

december 31, 2010

$s in thousands (unaudited)

Africa

ASSETS Current Cash and cash equivalents Interest bearing deposits and investments Net loan portfolio Other current assets Total current assets Long-term Fixed and other long-term assets Total assets LIABILITIES & NET ASSETS / EQUITY Current Short-term debt Client savings deposits Other current liabilities Total current liabilities Long-term Total liabilities and long-term debt Total liabilities Net assets/equity Total net assets /equity Total liabilities and net assets /equity

Asia

2009* Total

$ 26,753 6,423 96,698 13,994 143,868

$ 24,918 6,480 113,155 16,052 160,605

$ 21,805 9,337 78,612 5,820 115,574

$ 1,914 130 15,553 1,657 19,254

$ 75,390 22,370 304,018 37,523 439,301

$ 79,278 18,373 283,347 30,054 411,052

25,500 $ 169,368

25,357 $ 185,962

5,407 $ 120,981

3,469 $ 22,723

59,733 $ 499,034

50,398 $ 461,450

$ 4,283 68,232 7,768 80,283

$ 20,181 41,701 24,209 86,091

$

$ 1,816 1,151 2,866 5,833

$ 26,463 145,507 37,597 209,567

$ 26,937 111,569 32,403 170,909

33,248 113,531 55,837 $ 169,368

42,831 128,922 57,040 $ 185,962

183 34,423 2,754 37,360 60,166 97,526

23,455 $ 120,981

5,360 11,193 11,530 $ 22,723

141,605 351,172 147,862 $ 499,034

157,730 328,639 132,811 $ 461,450

Complete audited financial statements are available upon request. *2009 has been restated for comparative purposes, to reflect the sale of banks in Albania, Poland and Russia during 2010.

Management Discussion and Analysis of Financial Statements Microinsurance services: The objective of this effort is to provide life, property, health and agricultural insurance to people living in poverty. The cost of these activities was funded by a Bill & Melinda Gates Foundation grant and a NIKE grant, both received in 2007. Expenditures for this activity grew by 35% during 2010, as the program continued to expand.

Opportunity International Supporting Members (page 13)

Other program expenditures: These expenditures include the cost of managing our bank investments and the Loan Guarantee Fund. They also include grants management activities; general community education and communication; and advocacy and policy activities at the national level. These expenditures fell by 10% in 2010, primarily due to reduced levels of the investment management and education activities.

Financial income: Implementing Members’ financial income increased by 12% to $153.1 million in 2010 reflecting strong gains primarily in Africa and the Philippines.

Fundraising and general & administrative (G&A) activities

14

(continued from page 13)

The ratio of fundraising and G&A expense to total revenue excluding special reserves increased from 21% in 2009 to 25% in 2010 as a result of the reduction in revenue. The ratio calculated as a percentage of funds raised (which includes equity and debt raised for the Implementing Members) increased from 8% in 2009 to 15% in 2010, as debt needs in the field were reduced and replaced by savings deposits in several banks.

Net: The net decrease of $13.3 million in 2010 was primarily a result of disbursing cash in 2010 that was received or pledged in 2009.

Opportunity International Implementing Members (page 14)

Net income: Implementing Members’ net loss decreased substantially in 2010 primarily due to improvement in the quality of their portfolios, which meant reduced provisions for loan losses.

Net loan portfolio: The net loan portfolio increased by 7% at the end of 2010 to $304 million.

Clients savings deposits: Deposits increased 30% to end the year at $145.5 million.

Hope for those shunned by society Because they live in a leper colony, Jhunu (left) and Minati (right) are ostracized from society even though they do not suffer from leprosy themselves. They were forced to beg on the streets of Orissa, India, to feed their families. But thanks to help from UPS, a longtime partner of Opportunity, they received a loan and financial literacy training and now have a successful rope-making business.

“ In response to Christ’s call to love and serve the poor, Willow Creek Community Church and Opportunity International are working side by side to empower the people of Chitipa, Malawi, to become independent. With the help of Opportunity’s creative and effective microfinance tools, thousands of families are now on a sustainable path to freedom from poverty. ”

— John Forbes Director, Africa Operations, Global Connections Willow Creek Community Church

corporations, foundations, churchEs and organizations ADC Foundation Aimee and Frank Batten Jr. Foundation Alliance Bernstein Altus Properties, LLC Anderson Family Foundation Arizona Community Foundation Arthur Rock & Company Baillie Lumber Co., Inc. CAC Advisory Services, LLC California Rock Crushers (Cal Crush) Calvary Church, Los Gatos, CA Calvary Lutheran Church, Brookfield, WI The Catholic Community of Pleasanton, CA Central Valley Autism Project, Inc. Charlotte Country Day School Christ Church of Oak Brook, IL Christ Presbyterian Church, Edina, MN Christian Evangelical Foundation Church of the Good Shepherd, Vienna, VA Church of the Saviour, Wayne, PA Collegiate Church Corporation Cornerstone Information Systems Cutco Cutlery Dale and Edna May Walsh Foundation Darnestown Presbyterian Church, MD DLA Piper US LLP Dorothy and Henry Hwang Foundation Dr. Scholl Foundation Earle M. Combs & Virginia Combs Foundation

Emelco Foundation FairWyn Fund Family Business Resources, Inc. Fellowes, Inc. Financial Services Roundtable First Presbyterian Church, Champaign, IL First Presbyterian Church, Houston, TX First Presbyterian Church, Lake Forest, IL First Presbyterian Church, River Forest, IL Foundation for Christian Stewardship Fourth Presbyterian Church, Chicago, IL The Fuller Foundation Furniture Row Global Impact Grace Presbyterian Church, Houston, TX Guerrant Foundation, Inc. Heart of CAbi Foundation The Helmerich Trust Helwig Carbon Products Herman Miller Foundation Hodgdon Family Charitable Fund The Hoglund Foundation Hottell Malinowski Group Attorneys at Law, P.C. Hugh E. and Marjorie S. Petersen Foundation Inc. IT Xchange Corporation James and Agnes Kim Foundation The James and Edith Spain Foundation James Huntington Foundation JVJ Dairies/Merced River Farms

kalosworks.org The Kerrigan Family Charitable Foundation, Inc. Lorance Lisle Foundation The Luzerne Foundation Marble Collegiate Church, New York, NY Mayer Brown LLC MD7 Modesto Sunrise Rotary Moran Family Opportunity Foundation Nalco Company Orange County Community Foundation Pasadena Christian School Paul Carlson Partnership Peachtree Presbyterian Church, Atlanta, GA Rancho Bernardo Community Presbyterian Church, San Diego, CA The Rauner Family Foundation rggroup global, inc Roasterie, Inc Robert and Margaret Thomas Fund Rocha Transportation The Rumsfeld Foundation SAJE Foundation Samueli Foundation The San Diego Foundation Santa Barbara Community Church, CA Sarah Spencer Foundation Saratoga Federated Church, CA Satter Family Foundation

Simply Distribute Charitable Foundation Soco Group Inc. Solheim Foundation Sonitrol of Tallahassee, Inc. St. Andrew’s Presbyterian Church, Newport Beach, CA St. Philip the Deacon Lutheran Church, Plymouth, MN Stewardship Foundation Stonebriar Community Church, Frisco, TX Stuart Family Foundation Tech Mate, Inc. Ted and Roberta Mann Foundation Tree of Life Foundation Turlock Duplex United Stationers Inc. United Way of the Bay Area ValMark Securities, Inc. Visalia Breakfast Rotary Vista Hermosa Foundation Warren Brown Family Foundation Watson Family Foundation Wayne Presbyterian Church, PA Wayzata Community Church, MN W.B. and Sue T. Turner Foundation Westminster Ministries Foundation Willow Creek Community Church, South Barrington, IL Women’s Opportunity Fund, St. Helena, CA York Association United Church of Christ, PA

THANK YOU to all the groups and individuals who partnered with us and supported our work in 2010.

15

board of governors A community of philanthropic individuals, Opportunity’s Governors help us fight global poverty by providing financial support and serving as ambassadors for our work.

Alabama

Nancy and Murray Smith

Arizona

Ferial and Robert Aldag Wendy and Michael Beninato Gail Bradley Gretchen and Gary Buckmiller Sue and John Cork Suzanne Diamond and Dimitri Haniotis Don Ebinger Faith and Bob Falkner Rebecca and John Fenn Anne and Terry Guerrant Martha and Robert Haley Laurie Hawkes and Steve Schmitz Kathie and Malcolm Howard Mary-Lynn and Eugene Kaulius Fern and Stephen Klassen Terry Koch Marilyn and Donald Kredel Jeanne Lewis Daniel Martineau Carmine and Dan McCausland Brent Mekosh Edit and Robert Murray Lynne Namka Fred Pakis Denice and Gary Rippentrop Diane and Chuck Ruebling Sue and Bill Sackrider Cindy Schwab Salem and Marc Salem Thomas Denny Sanford Jack Selby Rhonda and Timothy Snider Bonnie and Karsten Solheim Jacque and John Weberg

california

DruAnn and Chuck Ahlem Alana Aldag Jeanie and Dan Ardell Deborah Barber and James Hopkins Patricia and Stephen Barulich Phyllis and Scott Bedford Jim Bergman Janice and Tom Berthold Renee and Randy Brekke Meg and Flint Brenton Alberta and John Britton Cheryl and Charles Bryant Charlene Caldwell Rachel and Thomas Cantrell Josefina and Stuart Card Kathy and Bob Ceremsak Kim and Ben Chelf Connie and Robert Chin Michelle and Richard Chino Cynthia Collins Stephen Cooper Anita and David Cummings Renee and William Curtis Rod and Diane Dammeyer Annette and Greg Davis Jackie and Ted DeGroot Maureen Doherty and Henry Bowis Kathy Drake Kathy and Terry Duryea Barbara and Robert Edmonds Kelly and Don Errigo Blair and Steve Fabry Jim Fehrle Barbara and Jim Fetherston Susan and Robert Finocchio Sue and Ed Fish Betsy and Ron Flint Lydia and Steve Franzese Clair and David Fung Heidi and Michael Gianni Susan Gibson Rebekah Gladson and Paul Cooley Ginny and Gregg Goodwin Jennifer and Henri Haber Mary and Bill Hall Jim and Carol Hamilton Joan and Douglas Hansen Dorcas and Promod Haque

16

Lisa and Joseph Hartley Patty and Randy Haykin Otis Healy Nicola and James Hemerling Joan Herman and Richard Rasiej Pam and Byron Hoffman Teena Hostovich and Doug Martinet Molly and Jedidiah Howard Elsie and Bob Huang Nancy and Gregg Hughes Joelle and Lloyd Hussey Leslie Hutchison Corrie and James Johnson Diane and Erick Johnson Paige and Deyl Kearin Nancy and Lawrence Keillor Katey Kennedy and Marc van den Berg Kimberly and Steve Keough Michael and Dawn Kimball Karen Klause Megan and Mark Klopp Joanie and Scott Kriens Esther and Michael Lee Susie and Chris Leupold John Lim Karen and Ronnie Lott Renee and Shareef Mahdavi Catherine and David Marsten Betsy and Ron Martin Cindy and Alan Marty Sally and Michael Mayer Ingrid and Mike McConnell Cyndi and David McCrane Julie and Jim McEliece John and Christine McKay Maureen and Ronald McMahon Ginny and Marshall Merrifield Debbie and Bryan Merryman Carole and Fred Middleton Julie and Bryan Min Laurie and Bruce Mitchell Derry Ann Moritz Nicole and Ted Moser Jennifer and Dave Murphy Ann and Greg Myers Jane and Peter Nelson Christina and Timothy Noonan Marilyn and John Nugent Joni and Ralph Ogden Ruth Pan Joani and Donald Petersen Ruth and Glen Peterson Bonnie and Dan Platt Carolyn and Dick Randall Ken Rideout Ruth and Roy Rogers Michele and Tom Ruby Nancy and Steve Russell Shelly and Nate Sarkisian Laura and Russell Schafer Leslie and Zachary Schuler Elizabeth Shafer Lenor and Jerry Skillett Deborah R. Smith Pat and Pete Solvik Kathie and David Speck Luann and Frank Spindler Marcia and Dennis Starcher Lorna and Gordon Steel Gerry and Chuck Stees Mary and Lawrence Stephens Barb and David Stiehr Godfrey and Suzanne Sullivan Kimberly and Philip Summe Lois and Bill Swanson Paul and Konny Thompson Peter and Monique Thorrington Mark Trabucco Suzanne and Peter Trepp Judy and Daniel Villanueva Carol Waitte Kris and Greg Weaver Marie and Steve Will Cathy and Mark Wilson

colorado

Katy and Jim Carpenter Annie and Brad Davids Ann and David Everitt

Terri and Dave Fish Susan and Kevin Hollern Jenny and Mark Hopkins Marcy and Jim Howey Mary Kay and Jim Hudson Colleen and Jerry Jensen Penny and Peter Kast Terri and Bill Kinnard Barbara and Ed Lukes Jeri Lyn and Jeff Martin Becky and Doug McClure Pam and Tim McTavish Renee and Randy Nickerson Allison and Steve Schovee Mary Steffens Schweitzer Gayle and Rick Shaum Joan and Daryl Skoog Connie and Dean Stevinson Sarah and Steve Stoecker Patricia and Brian Watson Jennifer and Ashley Wenger Delmar Wittler Ellen and Greg Yancey

WOMEN’S opportunitY NETWORK (WON) WON is a network of women supporters and staff committed to helping Opportunity reduce poverty by investing in women around the world—like this Trust Group of women in Sigma, Philippines.

connecticut

Susie and Jeremy Buffam Polly and Dan Dyer Gioia and John Frelinghuysen Karen and Andy Hirschberg

district of columbia Noreen Clancy and Kris Carter Margaret and David Gardner Victoria Gifford Kennedy Elizabeth and Andrew Knox Diana Negroponte

florida

Susan Ackerman-Murray Yna and Richard Brackett Lynne and Jim Bramlett Jodie and Dennis Clements Lynne and Steve Cosler Wendy and Jim Cox Janice D. Dailey Rosemarie Nye Lauren Ringhaver and Rich O’Brien Monica and John Rivers Beatriz and John Struck Rita and Todd Ullom Jill and Joe Valenti

georgia

Donna and David Allman Lavon and Dennis Chorba Nicole and Miles Cook Karen and Richard Cope Elaine Davis William and Kathleen DeMartino Teresa and Keith Devine Susan and Jim Heerin Colleen and Kent Lindner Beth and Scott Stephenson Emily and Glenn Zimmerman

hawaii

Shelli McCelvey

illinois

Suzanne and David Arch Martha Atherton Stacey and Dennis Barsema Warren Beach Brad and Lorrie Bell Lars and Mariann Berntson Maryellen and Jim Betke Jeff and Cindy Black Stella and Terry Boyle Colleen and Scott Brueggeman Lee Canfield Debbie and Keith Cantrell Kim and Doug Cogswell Anne and Art Collins Donna and James Cook Melodee and George Cook Anne Coughlan and Charles B. Jameson Gregory Cozad Les and Linda Dlabay

Nancie and Bruce Dunn Kate Edwardson Susan and Matthew Erickson Dawn and Bob Feller Jim and Meg Fletcher Jeffrey S. Germanotta Todd and Terry Giese Susan and Ray Gillette Beth and Dick Gochnauer Dick and Ellie Goers Jeanette and Jerry Goldstone Em Griffin Sue and Ken Groff Julie Hall Walter and Darlene Hansen Helen and James Hardee, Jr. Janis Long Harris Linda Hefner Anthony Hoban Susan and James Hooker Beth Houle and David Pope Christina Jamieson Carolyn and Richard John John and Tami Kamperschroer Laura and Peter Keller Alison and Jim Kelly Steve and Kendra Khoshabe Lexie and Jeff Klein Julie and Harold Kraemer Lise and Mark Lutz Ann and Edwin Mason Jill and Jeff McClusky Cole and Margo McCombs Tracy McCormick Fred McDougal Bruce McLagan Carlette McMullan and John Gibbons Janet McNicholas and Raymond Simons Creighton Meland Lydia Miller Mary J. Miller Cindy and Gary Monds Kathy Nyquist Susan and David Ormesher Julie and Randall Oyler Betsy Perdue and Sanford Greenberg Nathan Popkins Cathy and Steve Priest Irene Pritzker Amy and Marshall Reavis Heide and Jim Reilly Debbie and Dennis Ripley Irene and Ross Robbins Mary Rodino and David Himelick Melissa and Jeff Ross Alice and Norman Rubash Stacy and William Ryan Marcia Sammons Fred and Pam Sasser Janet and Craig Schwarzentraub Barbara and Walter Scott Jill Dailey Smith

Virginia and Angelo Spoto Steve and Emmy Stanley Kim and Andy Stephens Ann and Bill Stout Nate and Mallory Sutton Barbara and Donald Swanson Elaine and Paul Sweas John Tompkins and Amy Itoku Charles and Shirley Todd Tracy and Dave Tolmie Jay Trees Deb and Richard Vander Molen Linda and Ken Vander Weele Myles Vander Weele Nancy and Richard Waichler Joanie Ward Mark Wiklund Heather and Phillip Wilhelm Kathy Woodliff Mary Rose and Steve Zoller Sue and Mark Zorko

indiana

D.G. and Gini Elmore P.E. and Fran MacAllister Shelley and Stewart Mart Mat and Bev Orrego Donald and Carolyn Palmer Barbara and Frank Wheeler

iowa

Nathan and Lynn Schulte

kansas

Jennifer and Nathan Colaner Margaret and Philip Howe Howard and Corrinne Russell

kentucky

Julia and Darren Keyes Linda and Chris Valentine

maryland

Laurie and Michael Arabe Kristen and Robert Birch Dale Hanson Bourke and Tom Bourke Ann Loar Brooks and Steven Brooks Susy Cheston and Artie Harris Karen and Michael Conelius Carol deNeufville Marcia and Nicholas Fidis Julie and Adam Goddard Kristin and Todd Henry Julie Hindmarsh Noelle and John Lynch Nancy and Bob Plaxico Helen and Gordon Smith Hubert Stiles and Constance Pohl Stiles Holly and Gary Townsend Kathy and Mark Vaselkiv Ann and Robert Wieczorowski Mary Jo and Ted Wiese Dina and John Yetman

massachusetts

Sandra and Bob Bowden Nancy Brady Betty Jane “BJ” and Herb Hess Tina and Jonathan Liu Keith Lowey Rosemary McNaughton and Gary Felder

michigan

Dave and Coleen Kahle Julie and Robert Montgomery Roger and Jean Steed Richard and Virginia Williams

minnesota

Patti and Jim Arnold Cynthia Baune and Douglas Fulton Karen and Dave Beadie Mignon and Scott Bergs Helen Meyer Bieber and William Bieber Stacy and Matt Bogart Carole and Glenn Bolles Ward and Kris Brehm Blythe Brenden Bill and Karen Brown Jeannie and Bill Buckner Peggy Burnet Cassidy and David Burns Jacqueline Byrd Jeremy and Krista Carroll David and Michelle Choe Tim and Tara Clark Jennifer and Gregg Colburn Glenda and Fritz Corrigan Sandra Davis Deb and Jim Deanovic Peter Deanovic Gayle and Tim DeVries Amy and Keith Downey Megan and Dennis Doyle Janet and Dan Dryer Jennifer Eckert Karol and Dick Emmerich Diane and Tom Erickson Jill and Tim Geoffrion Penny and Bill George Ryan Gilbertson Terri and Rick Gunderson Joyce and Thomas Hansen Mindy and Stanley Hargrove Kathy and James Haymaker Lisa and Dave Hintermeister Michelle Jirik

Linda Hall Keller Tracy Kirby Norma and Patrick Klein Andrea and Ben Knoll Venetia and Robert Kudrle Sarah and Steve Kumagai Molly and Peter Larsen Anita and Rick Leggott Susan and Mark Lewis Margaret and Donald Longlet Barbara Lupient Martha (Muffy) MacMillian Polly and Robert McCrea Katie and Michael McElroy Lizabeth McKibben and Fred McDonald Karin and Mike Meloch Ann and Fred Moore Barb and Terry Muelken Carolyn and Bob Nelson Blue and Cliff Olson Kelly Olson Kelly and Michael Palmer Evonne and Jim Pedersen Cindy and Tad Piper Lindsay and David Polyak Tom and Mollie Raih Donna and Frank Ravndal Amy and Chris Revak Marian and Curtis Sampson Jennifer and Herve Sarteau Jennifer and Christopher Sawyer Colleen and Peter Schleider Cathy and Charlie Snyder Emily and Nolan Soltvedt Margie and Phil Soran Mary Lynn and Warren Staley Jayne and Daniel Taylor Kimberly and Mark Thompson Lisa and Jay Tschetter Liz and Rolf Turnquist Emily and Andrew Vennerstrom Jenny and Bob Verner Mary Sue and Peter Vorbrich Diane and Jay Wissink Nicole and Kirt Woodhouse

missouri

Rick Bagy Dave and Lauren Lowman Richard McClure and Sharon Buchanan-McClure Tom and Jill Moller Harry and Genie Mueller John and Nancy Ross

Darla and Tom Skelton Kathy and Jeff Tennyson Cindy and Ed Watko Kara and Price Whitfield Nancy and Randy Wiersma

David and Wilma Schopp Drew and Meg Smith Kevin and Pam Voss

nebraska

Mildred Hindmarsh Donna and Todd Strubbe

Amy and Dan Duryea Stephanie and Steve Greer Eugene and Karen Stoelk

Abbi and Robert Antablin Lucy and Lindsay Duff Jenny and Wendell Erwin Marilyn Greer Wendall Hirschfeld Charlsey and Jeffrey Holler Eric and Ann Jacobson Marietta and Ted Johns Rita and Dick Leathers Amy and Michael Macari Shara Michalka Alan Nash Jeannie Pascale Judy and Frank Scarborough Patti and Michael Scovel Diane and Terry Standefer Malcolm Street Joy and Benjamin Warren Ann and Jerry Zamzow

pennsylvania

vermont

ohio

nevada

Laura and John Blackburn Julie and James Voorhees

new hampshire Sally and Alan Gayer

Dennis and Denise Blankemeyer Timothy F. Geisse Dan and Debbie Quigg Christina Somerville Robert and Martha Whittington Jim and Donna Wyland

oklahoma

new jersey

Dianne and Brian Clark Christine and David Edwards Sally and David McAlpin Marilyn and Mike Modak Raouf Morcos

new mexico

Stirling and Robert Bell Deborah and David Douglas

new york

Lazarus Angbazo Tim Bilmanis Lindsay Bolles Deborah Farrington Tim C. Geoffrion, Jr. Kathryn and John Hart Carol Hexner Randy and Eric Hustvedt Karen and Douglas Johnstone Tracey McCabe Doris and Don Meyer Jeff and Karin Meyer Hee-Jung and John Moon Brent and Jill Pearson Susana and Anthony Piscitiello Liesel Pritzker Sabra and Bill Reichardt Erika and Richard Stehl Andrew Stern Cissy and Curtis Viebranz Brian Zakrocki

north carolina

Elizabeth and Bob Bridges Liz and Steve Eubanks Carol and Tom Fourre Timothy and Laura Lapp Allison and Michael Lappin Becky and Mark Linsz Karan and Tom Moore Leigh and Jerry Moran Bill and Shelley Morgenstern Anne and Mark Paulson Marion and Michael Shields Barbara and Ken Sibley

texas

Leitner and Kenneth Greiner

oregon

Cheryl and Derk Bergsma Dot and Mike Bontrager Heather and Vern Burling Pam and Bob Byers, Jr. Jane Coleman Ilonka and Jack Comstock Heather and Kevin Gallagher Bonnie and Chris Gleeson Sara and Peter Grim Jennifer and David Hall Diana and Samuel Harbison Peg and Ed Harshaw Lois and James Herr Nancy and Cameron Hicks Nancy and John Humphreys Doris and Lester Loucks Cheryl and Doug McBrearty Christina and Tom Nagel Bonnie and Jonathan O’Neil Carla and Dennis Reustle Kimberly and David Simms Susan and Charles Steege Joyce and Jim Sweet Lisa and Jeffrey Thomas Michael Toothman Marge and Rick Volpe Karen and Ken Volpert Susan and Richard Zerbe

rhode island Cynthia Frost

south carolina

Elizabeth and Richard Hogue

tennessee

Mandy and Mike Gallagher Jane and Mark Harris

Margolyn and Charles Andrews Susan and Ben Anderson Ray

virginia

Nancy and Peter Brooks Terese Colling Mary Collins Peter Daley Gretchen and Jeffrey Davis Nan and Ernie Flynn Judith and David Grissmer Katherine Haley Shelley and Thomas Jennings Bart Massey Trudy and John McCrea Nancy and Robert McIntosh Barbara McKee and Jeffrey Pfoutz Janey and Bruce Smith Priscilla and Kadita Tshibaka

washington

David and Misty Grieger Laurie and Greg Nelson John Sage

wisconsin

Mark and Dawn Fuchs Paul and Lois Heiss Robert Keller Hilton and Jean Neal Carol and Grant Nelson

international

Lynne and David Baab Ross Clemenger Betsy and John Eckbert Peter King Janelle Muntz Lassonde Searl Vetter and Jules Kortenhorst Kimberly and Terry Watson Jorie and George Yen

young ambassadors for opportunity (YAO) YAO is a network of young professionals and entrepreneurs who raise funds for Opportunity and build awareness about microfinance through volunteer-led, regionally based chapters.

YAO National Board Members and Chapter Leaders

From forced labor to freedom In Chennai, India, an Opportunity collaboration with International Justice Mission is empowering previously bonded laborers to find financial freedom.

Sharon Sangeetha (left), assistant manager of client development, is helping this Trust Group of freed women reintegrate into the life of their village with financial tools and social support systems. By starting their own businesses, realizing stable employment and building up savings, clients reduce their risk of future victimization.

Alana Aldag Caitlin Andrews Ian Andrews Abbi Antablin Mark Bacolod Lucy Berenato Schafer Bomstein Kate Borchers Amanda Britt Marisa Brown Ana Brown-Cohen Diana Carey Michael Carey Jeremy Carroll Kristin Carroll Caryn Carver Elise Caster Niki Chalfant

Mandy Cheung Taina Collazo Katherine Daiss Peter Deanovic Danielle Diardo Lauren Dillon Kristen Doyle Neal Drumm Jason Duff Anne Edwardson Emily Egan Kate Feick Troy Finnigan Tara Flynn Sara Freer David Gardner Elizabeth Grady Brandon Green

Sarah Green Eliza Griffith Katherine Haley Aaron Hall Chelsea Jacobs Emily Jansen Bianca Javier Alyssa Knauer Bridget Koha Shannon Leutheuser Ronica Logani Barbie Lucio Michelle Mak Brandis Meeks Andrea Meyer Tom Montgomery Jennifer Murtie Josh Murtie

Brian Nathanson Jennifer Nelson Tracey Neret Kristen Olinger Carlton Oliver Suzanne Oonincx Alison Oviedo Lindsay Parton Raan Parton Christina Perez Liannette Perez Monica Perez Blake Perry Stevie Perry Nathan Popkins Liesel Pritzker Sheila Ramachandra Hannah Reynolds

Joseph Sandler Richard Shawm Karl Skare Emily Soltvedt Nolan Soltvedt Amy Steinhoff Andrew Vennerstrom Emily Vennerstrom Michelle Volpe Jessie Wild Jessy Williamson Corey Wood Emily Yahr Drew Yancey Brian Zakrocki

17

board of directors Bradley J. Bell Wheaton, IL

Susan Gillette Winnetka, IL

Theodore D. Moser Oakland, CA

Kadita “A.T.” Tshibaka Spotsylvania, VA

Steven D. Cosler Winter Park, FL

JAMES W. Hamilton (secretary) Laguna Beach, CA

David L. Simms (ex officio) Newtown Square, PA

Mark Vaselkiv (treasurer) Baltimore, MD

Rodney Dammeyer San Diego, CA

Betty Jane “BJ” Hess (chair) Hingham, MA

Jill Dailey Smith River Forest, IL

Sandra Davis Edina, MN

Peter King Sydney, Australia

Nathaniel Sutton Flossmoor, IL

Deborah A. Farrington New York, NY

Jeffrey S. Meyer Orchard Park, NY

Mark A. Thompson

Mark Linsz Charlotte, NC

(vice chair)

Minneapolis, MN

board of advisors

executive team

JIM BAUMGARTNER Director of Corporate Affairs Caterpillar Foundation

Rev. Theodore Hesburgh, C.S.C. Former President University of Notre Dame

Bill Morgenstern CEO

Dr. Tony Campolo Professor Emeritus Eastern University

Lt. General Claudia J. Kennedy U.S. Army (Retired)

Doris Christopher Founder & Chairman, Emeritus The Pampered Chef LUELLA CHAVEZ D’Angelo President Western Union Foundation Tony P. Hall Executive Director The Alliance to End Hunger; U.S. Ambassador and Former Member of Congress (Retired)

18

We welcome the following board member IN 2011:

Dr. Martin Marty Professor Emeritus University of Chicago Dikembe Mutombo Chair and President Dikembe Mutombo Foundation, Inc. The Honorable Fidel Ramos Former President Republic of the Philippines Susan Samueli President Samueli Foundation

Richard John SVP, Finance and Administration & CFO Mark Lutz SVP, Global Philanthropy Jennifer Mitrenga SVP, Outreach and New Initiatives Dennis Ripley SVP, International Business Development Connie Stryjak SVP, Human Resources Jon Yasuda SVP, Resource Development

expanding access, reducing costs LEFT Photo : With six children and a small grocery shop to run, Oliva Saizi (right) does not have the time or money to travel to a bank. Support from the Credit SuissE MICROFINANCE CAPACITY BUILDING INITIATIVE allows Opportunity to reach Oliva and millions like her with cutting edge technology at a fraction of the cost of traditional banking. Through this pointof-sale device at Wananga Gausi’s (left) neighboring shop in Lilongwe, Malawi, she can conveniently withdraw money or pay for purchases.

lenders to our banks Barclays Citibank Cordaid DFCU Bank Limited Dia Vikas Fund European Bank for Reconstruction and Development European Fund for Southeast Europe HDFC Bank HSBC Instituto de Crédito Oficial

strategic partners ACDI/VOCA AfriCap Bill & Melinda Gates Foundation Blue Orchard Finance Caterpillar Foundation Catholic Relief Services Conrad N. Hilton Foundation

National Bank of Malawi National Bank of Rwanda Oikocredit responsAbility Fund Small Industries Development Bank of India (SIDBI) Standard Chartered Bank Symbiotics Triodos Bank Triple Jump

Credit Suisse Freeport McMoRan, Inc. Goldman Sachs Habitat for Humanity IDP Foundation, Inc. ING Inter-American Development Bank (IADB) International Finance Corporation (IFC) International Fund for Agricultural Development (IFAD) International Justice Mission (IJM) John Deere Foundation The MasterCard Foundation Millennium Villages NIKE Foundation Omidyar Network Oracle UN Capital Development Fund (UNCDF) United States Agency for International Development (USAID) UPS Western Union World Bank’s Consultative Group to Assist the Poor (CGAP)

PROTECTING FARMERS FROM LOSS IFC, a member of the World Bank Group, is partnering with Opportunity to expand weather-indexed crop insurance into Rwanda, where Agricultural Loan Officer Jean de Dieu Kampayana (left) works with Niserata Twabagize. This program also helps increase production by enabling farmers to buy high quality crop inputs.

19

Support from the Bill & Melinda Gates Foundation enables Opportunity

“ Through my work with Opportunity International in subSaharan Africa, I have seen firsthand the dedication to serving the most vulnerable and hard to reach people by

International to provide savings outlets in unserved areas like Nkhoma, Malawi.

Every Tuesday and Saturday, this mobile bank stops here to give clients a safe,

leveraging technology to reduce costs and listening to

convenient place to make deposits. The

clients to design financial services that meet their needs.

closest alternative for these villagers is

The Bill & Melinda Gates Foundation’s partnership

a traditional bank 60 kilometers away.

with Opportunity furthers our shared goal to provide millions of people in the developing world with affordable

Photo courtesy of the Bill & Melinda Gates Foundation

access to savings services.”

— Tamara Cook, Program Officer Financial Services for the Poor Bill & Melinda Gates Foundation

to learn more, visit Opportunity.org.

2122 York Road, Suite 150 | Oak Brook, Illinois 60523 | 800.793.9455 Opportunity International provides access to savings, small business loans, insurance and training to over 2.5 million people working their way out of poverty in the developing world. Clients in more than 20 countries use these financial services to start or expand a business, provide for their families, create jobs for their neighbors and build a safety net for the future. Opportunity International is a 501(c)(3) non-profit and serves all people regardless of race, religion, ethnicity or gender.

Printed on paper containing post-consumer content.

400.1.0511 ©2011 Opportunity International