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Our Ivory & Lavender seed paper is handmade by local artists here in Crested Butte, CO. This 30 lb. stock makes great invitations, place cards or specialty posters. After use it can be reused by being planted. In no time you will have your own lavender plant!

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FINCA / annual report

At a recent FINCA board meeting, one of our directors quipped: “No margin, no mission.” This slogan embraces an obvious truth: that unless an institution consistently covers its operating costs, it will go out of business and be unable to sustain its mission. As a nonprofi t program network, FINCA is not supposed to generate a profi t, per se, but it is imperative that we achieve what we call a positive “net operating margin,” or NOM, the bulk of which is reinvested into our programs as loan capital so we can reach ever-larger numbers of clients.I have often said that FINCA is one of the very best managed microfi nance institutions in the world. Proof of that assertion is the fact that, for at least the last 15 years, our foundation has generated a positive NOM. While always challenging, to achieve this result in the face of a global economic crisis is especially remarkable. It was made pos- sible by excellent and steadily-improving program management, and the hard work and effi ciency of our fi eld staff , worldwide. FINCA’s positive NOM is doubly impressive when we consider the impact of destructive natural events such as Hurricane Mitch in Honduras, this year’s earthquake in Haiti, and the droughts or fl oods that, every year, punish one or more FINCA programs. In addition to these are the man-made threats, such as Afghanistan’s highly dangerous working environment, ongoing insurgencies in several FINCA countries, and the nearly routine complications that result from bank crises, currency devaluations, punitive taxation policies, and predations by criminals. More important still, we must acknowledge the heroic resilience of FINCA’s borrowers.Whenever I visit the fi eld, I interview our clients to learn what benefi ts accrue to their families from being FINCA borrowers. Over the last two years I have been harvesting near-uniform responses—like “My profi ts are down”; “These are hard times”; “We must make sacrifi ces.” But then they inevitably say: “I am investing all of my profi ts in my business.” Obviously, these cli- ents are operating on the NOM principle, as well. They are doing what it takes, which is shorthand for resiliency. From clients to senior management, FINCA programs are demonstrating more resilience than ever before. It now appears that we have weathered the worst, and that we will emerge from the present global crisis stronger, more experienced, more disciplined than ever before. And you, our donors, have demonstrated resilience, too. In 2009, FINCA raised more money than ever before in its almost quarter-century of history. Recovery and con- tinued transformational growth is a certainty. And even those who have lost the most—our battered clients in Haiti who have lost their homes, businesses, tools, savings, family members and friends—are not asking for hand- outs or charity. They are simply asking for refi nancing and “more time.” Theirs is the greatest resiliency of all.

a letter from our founder

Dear Friends,

John HatchSanta Fe, New mexico

John K. Hatch

2 2 0 0 9 a n n u a l r e p o r t

Financial Highlights

2 0 0 9 a n n u a l r e p o r t 3

A s s e t s

$466,900,212 $450,902,175

2 0 0 9 2 0 0 8Cash And Cash Equivalents

Investments Loans Receivable, net

Grants Receivable, net Other Receivables, Prepaid Expenses And Other Assets

Property And Equipment, net of accumulated depreciation Intangible Assets, net

Deferred Tax Assets

$92,414,811$18,716,532 $317,208,208 $3,181,388 $10,115,481 $15,404,028 $6,256,979 $3,602,785

$ 72,022,853 $3,097,368 $342,400,798 $3,569,945 $7,730,675 $15,388,094 $4,266,115 $2,426,327

1101 14th Street, NW 11th Floor Washington, DC 20005

Phone: 202.682.1510 Fax: 202.682.1535

www.FINCA.org

f i n c a

F i n c A2009 A N N U A L R E P O R T

RESILIENCE IN THE FACE OF FINANCIAL CHALLENGES

2 0 0 9 a n n u a l r e p o r t 7

finca international, inc.consolidated statements of cash flows

years ended December 31, 2009 and 2008

Cash Flows From Operating Activities Profit for the year Adjustments for:

Depreciation and amortization Impairmenton financial assets Interest

revenue Interest expense

Income tax expense Foreign exchange losses Changes in deferred tax assets and liabilities

Change in working capital: Change in loans receivable

Change in grants receivable Change in other receivablesChange in accounts payable

Change in customer deposits and cash collateral Change in refundable advances

Change in other liabilities

$742,352$7,189,898

$8,148,132 ($154,151,468) $26,999,183 $2,934,400 ($434,621)$105,501,253

$17,044,458 $388,557 ($2,384,806) $9,673,284 $1,723,629 $10,727,949 ($11,415,985)($56,917,954)

3,829,469 2,595,447 7,108,000 771,585 552,441 9,122,717($12,824,024)($92,782,108)

$834,927$6,926,132

$9,048,423 ($167,937,254) $27,730,163$3,482,015 ($938,728)$127,382,104

$79,744,661 $136,372,893

2009 2008

6 2 0 0 9 a n n u a l r e p o r t

finca international, inc.consolidated statements of incomeyears ended December 31, 2009 and 2008

2009

$742,352Profit for the Year $1,738,210

2008Interest income

Interest expenseNet interest income before provision

for impairment losses

Impairment losses on loansNet interest income after impairment losses

Other operating income

Operating income

Personnel expenses Other operating expenses

Depreciation and amortizationOperating expenses

Loss before income tax and other income (expenses)

Income tax expense

Loss before other income (expenses)

$5,837,241$15,282,098$2,936,725$1,929,615$1,978,037$15,527,901

$4,938,192$2,097,256$1,928,782$1,728,291$1,693,562$13,923,603

$192,847,143 $38,378,254

$99,391,142

$7,760,018

$274,623,981 $40,832,273

$83,847,263

$6,735,937

$ 151,057,939 $24,969,398

$7,243,840 $119,004,153 $118,844,701$4,640,852

$123,645,005

$8,827,572

$13,927,340

$ 171,837274$28,997,826

$6,837,243 $118,273,223 $119,284,970$3,896,028

$129,392,710

$8,983,587

$12,672,014

Other income (expenses) Grants

DonationsOther non-operating income

Foreign exchange loss Non-operating expenses

eurasia

armenia azerbaijan georgia kosovo kyrgyzstan russia tajikistan

2 0 0 9 a n n u a l r e p o r t 5

As 2009 unfolded, the impact of the global fi nancial crisis deepened across Eurasia. The economic downturn led to rising unemployment, contraction in demand for goods and services, reduced cross-border remit- tances, and other dislocations across the region. The rapid deterioration of the Russian economy compounded the eff ects of the crisis on other countries whose economies depend on Russia’s performance. All FINCA Eurasia affi liates developed strategies and action plans for managing through the crisis, incorporating measures to protect portfolio quality and mitigate other risks, while stak- ing out positions to take advantage of new opportunities. In spite of the challenges experienced in 2009, FINCA Eurasia closed the year with a loan portfolio of $206.4 million, expanding client outreach by 9.5 percent to 288,936 clients. The seven regional programs disbursed $287.4 million in loans, while maintaining portfolio at risk greater than 30 days below two percent. Across the region, FINCA’s performance was remarkably strong, relative to peer institutions, including both commercial banks and other microfi nance institutions.

africa

tanzania zambia uganda dr congo malawi

4 2 0 0 9 a n n u a l r e p o r t

Benefi ting from several years of focus on infrastructure development, standardization and strengthening of internal controls, FINCA’s Africa region achieved 11.4 percent growth in client outreach in 2009, enabling 159,609 clients to build their businesses and strive to create a better future for an estimated 798,000 family members (based on average family size of fi ve persons). FINCA Africa disbursed $108.6 million in loans averaging $290, while maintaining portfolio at risk greater than 30 days of just 3.4 percent. It closed the year with a loan portfolio of $34.6 million. Caught in the downdraft of the global decline, growth rates across sub-Saharan Africa faltered in 2009, after several years of robust expansion. The global crisis, which curtailed remittance fl ows from wealthy countries to poor ones and pushed down commodity prices, dented the household incomes of FINCA clients and millions of other Africans struggling in poverty.

The Art of Science / branding and packaging

Harding University Music Department / brochure

Harding University Summer Stampede Postcard

Andrew Mwenda / poster

The L.C. Sears Collegiate Seminar Series presents

Andrew M. Mwenda

A New Look At

Africa

Thursday, September 30

Heritage Auditorium

Andrew Mwenda is a Ugandan journalist and founder of Uganda’s “The Independent.” He is a long-time advocate of empowerment and free speech throughout Africa, and has been honoredwith the International Press Freedom Award and named by Foreign Policy Magazine as one of 2009’s top global thinkers. Mwenda is a Yale fellow in African Studies and has emerged as a leading voice for empowerment in Africa, appearing on CNN, BBC, and the global stage at the TED conferecne in Arusha, Tanzania in June 2007.

African Development, Economic empowerment, and the dangers of foreign Aid

7:00 pm

HUmanity Event / poster

HUmanity

social justice ascommon ground

tuesday april 21, 2009

7-9 pm

rock house

bridging the gapbetween islam and

christianity

Rev. I. Malik Saafir

a conversation with

presents