annual report 2010

side by sideside by side

2

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.

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 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.

OPPORTUNITY international

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.

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

3

BILL MORGENSTERN CEO

BETTY JANE HESS Chair, Board of Directors

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.

MARY LYNN STALEY Chair, Board of Governors

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.

4

breakingbreakingdown barriersdown barriers

• An impoverished woman has no 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.

building AccESS

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.

5

INSuRING AccESS TO HEALTH cAREThousands 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 cOuNTRIESAccording 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 pHONEOpportunity 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.

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.

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.

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

6

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.

unlockingunlocking potentialpotential• A young girl has no chance to

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.

fostering GROwTH

fostering GROwTH

BANkING ON EducATIONOpportunity 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 cOuNTRYAs 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 LIfEEvery week, in homes, churches and halls through-out 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.

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.

7

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.

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GROWinG RuRal ecOnOmiesgrowing rural economies

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.

customized to meet the needs of remote

communities, Opportunity’s services spur

economic activity and provide enduring

resources for smallholder farmers and

other rural clients.

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.

developing SuSTAINABILITY

“ We were really praying for help

from somewhere, and I know

Opportunity came in answer

to our prayers. I now have faith

in the future and in my cocoa

farm because Opportunity is

supporting us.”

AGNES fOSu HENEAgricultural client, Ghana

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HELpING cOcOA fARMERS IN GHANAEvery 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 ExpANdAgnes 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.

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.

2010 HIGHLIGHTS

8

AcTIvE LOANS (as of year-end)

2007

1,07

9,49

8

2008

1,22

2,15

5

2010

1,51

2,14

6

SAvINGS AccOuNTS(as of year-end)

2007

337,

343

2008

483,

968

2010

788,

300

2006

107,

931

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

INSuRANcE pOLIcIES(as of year-end)

2007

338,

131

2008

556,

382

2009

1,01

6,50

7

2010

1,36

6,51

5

THO

uS

AN

dS

THO

uS

AN

dS

THO

uS

AN

dS

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

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

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

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

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

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

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

TRuST GROup MEMBERS…collectively shared risk and guaranteed repayment with an average $142 first loan.

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

800

700

600

500

400

300

200

100

0

1,600

1,400

1,200

1,000

800

600

400

200

0

1,500

1,250

1,000

750

500

250

02009

562,

101

2009

1,35

7,82

8

2006

933,

189

10

communities prosper

new income is generated

How a single contribution creates a cycle of economic growtH

GIvING THAT MuLTIpLIESEvERY $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.

dOLLARS ARE REcYcLEd as loans are repaid and the money benefits an ever-growing number of clients and their families.

cOMMuNITIES pROSpER 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.

OTHER cOuNTRIES IN wHIcH wE SERvEChinaDominican RepublicHondurasIndonesiaMacedoniaPeruRomaniaSerbiaZambiaZimbabwe

IMpROvEd HOuSING fOR fAMILIES IN cOLOMBIAProgram 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.

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

“ The 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.11

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.

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.

fINANcIALS opportunity international-u.s.

TOTAL fuNdS RAISEd IN 2010: $58,907,000

Private cash contributions and pledges

Government grants

Third-party investments

Financial statement presentationThe 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),

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 affiliatesOpportunity 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.

NOTES TO fINANcIALS

12

cLIENT SAvINGS dEpOSITS (as of year-end)

2009 2010

THO

uS

AN

dS

$150,000

$120,000

$90,000

$60,000

$30,000

$02008

$145

,507

,557

$111

,569

,085

$99,

463,

087

HIGHLIGHTS$s in thousands (unaudited) 2010 2009 Change

REvENuE Amount Percent

Private cash contributions and pledges $ 35,213 $ 40,124 $ (4,911) (12%)Government grants 1,627 4,011 (2,384) (59%)Reserves recorded against future pledges (8,260) (352) (7,908) N/M

Total revenue before non-recurring activities 28,580 43,783 (15,203) (35%)Non-recurring activities 4,188 4,705 (517) (11%)

Total revenue including non-recurring activities $ 32,768 $ 48,488 $ (15,720) (32%)

ExpENdITuRESProgram activities

Equity investments in Opportunity banks $ 14,085 $ 6,332 $ 7,753 122%Grants for member operations 5,702 3,521 2,181 62%Business development and training services 5,198 4,288 910 21%Network support services 1,330 1,898 (568) (30%)Microinsurance services 7,303 5,427 1,876 35%Other program expenditures 5,418 6,033 (615) (10%)

Fundraising and general & administrative (G&A) activitiesFundraising and G&A 9,053 9,298 (245) (3%)

Total expenditures $ 48,089 $ 36,797 $ 11,292 31%

THIRd-pARTY INvESTMENTSEquity and debt raised for Implementing Members $ 30,327 $ 71,800 $ (41,473) (58%)

TOTAL fuNdS RAISEd $ 58,907 $ 115,583 $ (56,676) (49%)Fundraising and G& A as a percent of:

Total revenue including special reserves 32% 21%Total revenue excluding special reserves 25% 21%Total funds raised 15% 8%

Complete audited financial statements by KPMG are available upon request.

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

$s in thousands (unaudited) U.S. Outside U.S. Total Total

ASSETS Current

Cash and cash equivalents $ 2,782 $ 13,501 $ 16,283 $ 10,522Restricted cash and cash equivalents 23,872 3,709 27,581 28,826Current receivables 11,213 6,881 18,094 23,534Other current assets 2,652 105 2,757 4,509Total current assets 40,519 24,196 64,715 67,391

Long-termLong-term receivables 19,581 9,590 29,171 31,165Capital in Opportunity banks 66,128 22,047 88,175 62,852Investments–other 23,972 3,902 27,874 34,186Net property and equipment 431 1,022 1,453 925 Total long-term assets 110,112 36,561 146,673 129,128

Total assets $ 150,631 $60,757 $ 211,388 $ 196,519

LIABILITIESCurrent

Current portion of long-term debt $ 2,530 $ — $ 2,530 $ 7,933Accounts payable and other current liabilities 3,661 4,294 7,955 3,682Total current liabilities 6,191 4,294 10,485 11,615

Long-termTotal long-term debt and other liabilities 14,724 194 14,918 13,717

Total liabilities 20,915 4,488 25,403 25,332

NET ASSETSUnrestricted net assets 77,936 45,900 123,836 88,187 Restricted net assets 51,780 10,369 62,149 83,000

Total net assets 129,716 56,269 185,985 171,187

Total liabilities and net assets $150,631 $60,757 $ 211,388 $ 196,519

$s in thousands (unaudited) U.S. Outside U.S. Total Total

STATEMENT Of REvENuE ANd ExpENdITuRES

REvENuEPrivate cash contributions and pledges $ 26,953 $ 22,589 $ 49,542 $ 58,688Government grants 1,627 2,953 4,580 6,438Non-recurring activities 4,188 — 4,188 4,705

Total revenue 32,768 25,542 58,310 69,831

ExpENdITuRESProgram activities

Equity investments in Opportunity banks 14,085 5,853 19,938 9,573Grants for member organizations 5,702 6,133 11,835 9,128Program development activities 19,249 7,178 26,427 23,295Total program services 39,036 19,164 58,200 41,996

Fundraising and G&A activities Fundraising 6,390 2,586 8,976 9,418G&A 2,663 1,787 4,450 4,381Total fundraising and G&A 9,053 4,373 13,426 13,799

Total expenditures 48,089 23,537 71,626 55,795

Net $ (15,321) $ 2,005 $ (13,316) $ 14,036

Complete audited financial statements are available upon request.

BALANcE SHEET

for the year ended december 31, 2010 2009

december 31, 2010 2009

13

MANAGEMENT dIScuSSION ANd ANALYSIS Of fINANcIAL STATEMENTS

Opportunity International-U.S. (page 12)RevenuePrimarily 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 International- Canada 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. Non- recurring 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 activitiesequity 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)

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.

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.

Fundraising and general & administrative (G&A) activitiesThe 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.

Opportunity International Supporting Members (page 13)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)Financial income: Implementing Members’ financial income increased by 12% to $153.1 million in 2010 reflecting strong gains primarily in Africa and the Philippines.

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.

MANAGEMENT dIScuSSION ANd ANALYSIS Of fINANcIAL STATEMENTS (continued from page 13)

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

ASSETSCurrent

Cash and cash equivalents $ 26,753 $ 24,918 $ 21,805 $ 1,914 $ 75,390 $ 79,278Interest bearing deposits and investments 6,423 6,480 9,337 130 22,370 18,373Net loan portfolio 96,698 113,155 78,612 15,553 304,018 283,347Other current assets 13,994 16,052 5,820 1,657 37,523 30,054 Total current assets 143,868 160,605 115,574 19,254 439,301 411,052

Long-termFixed and other long-term assets 25,500 25,357 5,407 3,469 59,733 50,398

Total assets $ 169,368 $ 185,962 $ 120,981 $ 22,723 $ 499,034 $ 461,450

LIABILITIES & NET ASSETS / EQuITYCurrent

Short-term debt $ 4,283 $ 20,181 $ 183 $ 1,816 $ 26,463 $ 26,937Client savings deposits 68,232 41,701 34,423 1,151 145,507 111,569Other current liabilities 7,768 24,209 2,754 2,866 37,597 32,403Total current liabilities 80,283 86,091 37,360 5,833 209,567 170,909

Long-termTotal liabilities and long-term debt 33,248 42,831 60,166 5,360 141,605 157,730

Total liabilities 113,531 128,922 97,526 11,193 351,172 328,639Net assets/equity

Total net assets/equity 55,837 57,040 23,455 11,530 147,862 132,811Total liabilities and net assets/equity $ 169,368 $ 185,962 $ 120,981 $ 22,723 $ 499,034 $ 461,450

INcOME & ExpENSES Financial income $ 55,660 $ 67,544 $ 19,921 $ 9,969 $ 153,094 $ 136,516 Financial expenses 6,722 6,269 6,798 646 20,435 19,948 Gross financial margin 48,938 61,275 13,123 9,323 132,659 116,568 Provision for loan losses 3,406 3,008 3,789 919 11,122 14,049Net financial margin 45,532 58,267 9,334 8,404 121,537 102,519Operating expenses 50,774 54,056 12,242 9,701 126,773 111,434

Net income from operations (5,242) 4,211 (2,908) (1,297) (5,236) (8,915)Other income (expense) 44 (35) (204) 48 (147) 875

Net income before taxes (5,198) 4,176 (3,112) (1,249) (5,383) (8,040)Provision for income taxes (179) 717 (144) — 394 1,777

Net income $ (5,019) $ 3,459 $ (2,968) $ (1,249) $ (5,777) $ (9,817)

STATEMENT Of REvENuE ANd ExpENdITuRES

Eastern Latin $s in thousands (unaudited) Africa Asia Europe America Total Total

Eastern Latin $s in thousands (unaudited) Africa Asia Europe America Total Total

BALANcE SHEET

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.

for the year ended december 31, 2010 2009*

december 31, 2010 2009*

14

HOpE fOR THOSE SHuNNEd BY SOcIETYBecause 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.

cORpORATIONS, fOuNdATIONS, cHuRcHES and ORGANIzATIONSADC FoundationAimee and Frank Batten Jr. FoundationAlliance BernsteinAltus Properties, LLCAnderson Family FoundationArizona Community FoundationArthur Rock & CompanyBaillie Lumber Co., Inc.CAC Advisory Services, LLCCalifornia Rock Crushers (Cal Crush)Calvary Church, Los Gatos, CACalvary Lutheran Church, Brookfield, WIThe Catholic Community of Pleasanton, CACentral Valley Autism Project, Inc.Charlotte Country Day SchoolChrist Church of Oak Brook, ILChrist Presbyterian Church, Edina, MNChristian Evangelical FoundationChurch of the Good Shepherd, Vienna, VAChurch of the Saviour, Wayne, PACollegiate Church CorporationCornerstone Information SystemsCutco CutleryDale and Edna May Walsh FoundationDarnestown Presbyterian Church, MD DLA Piper US LLPDorothy and Henry Hwang FoundationDr. Scholl FoundationEarle M. Combs & Virginia Combs Foundation

Emelco FoundationFairWyn FundFamily Business Resources, Inc.Fellowes, Inc.Financial Services Roundtable First Presbyterian Church, Champaign, ILFirst Presbyterian Church, Houston, TXFirst Presbyterian Church, Lake Forest, ILFirst Presbyterian Church, River Forest, ILFoundation for Christian StewardshipFourth Presbyterian Church, Chicago, ILThe Fuller FoundationFurniture RowGlobal ImpactGrace Presbyterian Church, Houston, TXGuerrant Foundation, Inc.Heart of CAbi FoundationThe Helmerich TrustHelwig Carbon ProductsHerman Miller FoundationHodgdon Family Charitable FundThe Hoglund FoundationHottell Malinowski Group Attorneys at Law, P.C.Hugh E. and Marjorie S. Petersen Foundation Inc.IT Xchange CorporationJames and Agnes Kim FoundationThe James and Edith Spain FoundationJames Huntington FoundationJVJ Dairies/Merced River Farms

kalosworks.orgThe Kerrigan Family Charitable Foundation, Inc.Lorance Lisle FoundationThe Luzerne FoundationMarble Collegiate Church, New York, NYMayer Brown LLCMD7Modesto Sunrise RotaryMoran Family Opportunity FoundationNalco CompanyOrange County Community FoundationPasadena Christian SchoolPaul Carlson PartnershipPeachtree Presbyterian Church, Atlanta, GARancho Bernardo Community Presbyterian Church, San Diego, CAThe Rauner Family Foundationrggroup global, incRoasterie, IncRobert and Margaret Thomas FundRocha TransportationThe Rumsfeld FoundationSAJE FoundationSamueli FoundationThe San Diego FoundationSanta Barbara Community Church, CASarah Spencer FoundationSaratoga Federated Church, CASatter Family Foundation

Simply Distribute Charitable FoundationSoco Group Inc.Solheim FoundationSonitrol of Tallahassee, Inc.St. Andrew’s Presbyterian Church, Newport Beach, CASt. Philip the Deacon Lutheran Church, Plymouth, MNStewardship FoundationStonebriar Community Church, Frisco, TXStuart Family FoundationTech Mate, Inc.Ted and Roberta Mann FoundationTree of Life FoundationTurlock DuplexUnited Stationers Inc.United Way of the Bay AreaValMark Securities, Inc.Visalia Breakfast RotaryVista Hermosa FoundationWarren Brown Family FoundationWatson Family FoundationWayne Presbyterian Church, PAWayzata Community Church, MNW.B. and Sue T. Turner FoundationWestminster Ministries FoundationWillow Creek Community Church, South Barrington, ILWomen’s Opportunity Fund, St. Helena, CAYork 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

“ 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

ALABAMANancy and Murray Smith

ARIzONAFerial and Robert AldagWendy and Michael BeninatoGail BradleyGretchen and Gary BuckmillerSue and John CorkSuzanne Diamond and Dimitri Haniotis Don EbingerFaith and Bob FalknerRebecca and John FennAnne and Terry GuerrantMartha and Robert HaleyLaurie Hawkes and Steve SchmitzKathie and Malcolm HowardMary-Lynn and Eugene KauliusFern and Stephen KlassenTerry KochMarilyn and Donald KredelJeanne LewisDaniel MartineauCarmine and Dan McCauslandBrent MekoshEdit and Robert MurrayLynne NamkaFred PakisDenice and Gary RippentropDiane and Chuck RueblingSue and Bill SackriderCindy Schwab Salem and Marc SalemThomas Denny SanfordJack SelbyRhonda and Timothy SniderBonnie and Karsten SolheimJacque and John Weberg

cALIfORNIADruAnn and Chuck AhlemAlana AldagJeanie and Dan ArdellDeborah Barber and James HopkinsPatricia and Stephen BarulichPhyllis and Scott BedfordJim BergmanJanice and Tom BertholdRenee and Randy BrekkeMeg and Flint BrentonAlberta and John BrittonCheryl and Charles BryantCharlene CaldwellRachel and Thomas CantrellJosefina and Stuart CardKathy and Bob CeremsakKim and Ben ChelfConnie and Robert ChinMichelle and Richard ChinoCynthia CollinsStephen CooperAnita and David CummingsRenee and William CurtisRod and Diane DammeyerAnnette and Greg DavisJackie and Ted DeGrootMaureen Doherty and Henry BowisKathy DrakeKathy and Terry DuryeaBarbara and Robert EdmondsKelly and Don ErrigoBlair and Steve FabryJim FehrleBarbara and Jim FetherstonSusan and Robert FinocchioSue and Ed FishBetsy and Ron FlintLydia and Steve FranzeseClair and David FungHeidi and Michael GianniSusan GibsonRebekah Gladson and Paul CooleyGinny and Gregg GoodwinJennifer and Henri HaberMary and Bill HallJim and Carol HamiltonJoan and Douglas HansenDorcas and Promod Haque

Lisa and Joseph HartleyPatty and Randy HaykinOtis HealyNicola and James HemerlingJoan Herman and Richard RasiejPam and Byron HoffmanTeena Hostovich and Doug MartinetMolly and Jedidiah HowardElsie and Bob HuangNancy and Gregg HughesJoelle and Lloyd HusseyLeslie HutchisonCorrie and James JohnsonDiane and Erick JohnsonPaige and Deyl KearinNancy and Lawrence KeillorKatey Kennedy and Marc van den BergKimberly and Steve KeoughMichael and Dawn KimballKaren KlauseMegan and Mark KloppJoanie and Scott KriensEsther and Michael LeeSusie and Chris LeupoldJohn LimKaren and Ronnie LottRenee and Shareef MahdaviCatherine and David MarstenBetsy and Ron MartinCindy and Alan MartySally and Michael MayerIngrid and Mike McConnellCyndi and David McCraneJulie and Jim McElieceJohn and Christine McKayMaureen and Ronald McMahonGinny and Marshall MerrifieldDebbie and Bryan MerrymanCarole and Fred MiddletonJulie and Bryan MinLaurie and Bruce MitchellDerry Ann MoritzNicole and Ted MoserJennifer and Dave MurphyAnn and Greg MyersJane and Peter NelsonChristina and Timothy NoonanMarilyn and John NugentJoni and Ralph OgdenRuth PanJoani and Donald PetersenRuth and Glen PetersonBonnie and Dan PlattCarolyn and Dick RandallKen RideoutRuth and Roy RogersMichele and Tom RubyNancy and Steve RussellShelly and Nate SarkisianLaura and Russell SchaferLeslie and Zachary SchulerElizabeth ShaferLenor and Jerry SkillettDeborah R. SmithPat and Pete SolvikKathie and David SpeckLuann and Frank SpindlerMarcia and Dennis StarcherLorna and Gordon SteelGerry and Chuck SteesMary and Lawrence StephensBarb and David StiehrGodfrey and Suzanne SullivanKimberly and Philip SummeLois and Bill SwansonPaul and Konny ThompsonPeter and Monique ThorringtonMark TrabuccoSuzanne and Peter TreppJudy and Daniel VillanuevaCarol WaitteKris and Greg WeaverMarie and Steve WillCathy and Mark Wilson

cOLORAdOKaty and Jim CarpenterAnnie and Brad DavidsAnn and David Everitt

Terri and Dave FishSusan and Kevin HollernJenny and Mark HopkinsMarcy and Jim HoweyMary Kay and Jim HudsonColleen and Jerry JensenPenny and Peter KastTerri and Bill KinnardBarbara and Ed LukesJeri Lyn and Jeff MartinBecky and Doug McClurePam and Tim McTavishRenee and Randy NickersonAllison and Steve SchoveeMary Steffens SchweitzerGayle and Rick ShaumJoan and Daryl SkoogConnie and Dean StevinsonSarah and Steve StoeckerPatricia and Brian WatsonJennifer and Ashley WengerDelmar WittlerEllen and Greg Yancey

cONNEcTIcuTSusie and Jeremy BuffamPolly and Dan DyerGioia and John FrelinghuysenKaren and Andy Hirschberg

dISTRIcT Of cOLuMBIANoreen Clancy and Kris CarterMargaret and David GardnerVictoria Gifford KennedyElizabeth and Andrew KnoxDiana Negroponte

fLORIdASusan Ackerman-MurrayYna and Richard BrackettLynne and Jim BramlettJodie and Dennis ClementsLynne and Steve CoslerWendy and Jim CoxJanice D. DaileyRosemarie NyeLauren Ringhaver and Rich O’BrienMonica and John RiversBeatriz and John StruckRita and Todd UllomJill and Joe Valenti

GEORGIADonna and David AllmanLavon and Dennis ChorbaNicole and Miles CookKaren and Richard CopeElaine DavisWilliam and Kathleen DeMartinoTeresa and Keith DevineSusan and Jim HeerinColleen and Kent LindnerBeth and Scott StephensonEmily and Glenn Zimmerman

HAwAIIShelli McCelvey

ILLINOISSuzanne 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. JamesonGregory 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 HansenHelen 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 McLaganCarlette McMullan and John Gibbons Janet McNicholas and Raymond SimonsCreighton 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 ItokuCharles 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

INdIANAD.G. and Gini ElmoreP.E. and Fran MacAllisterShelley and Stewart MartMat and Bev OrregoDonald and Carolyn PalmerBarbara and Frank Wheeler

IOwANathan and Lynn Schulte

kANSASJennifer and Nathan ColanerMargaret and Philip HoweHoward and Corrinne Russell

kENTuckYJulia and Darren KeyesLinda and Chris Valentine

MARYLANdLaurie and Michael ArabeKristen and Robert BirchDale Hanson Bourke and Tom BourkeAnn Loar Brooks and Steven BrooksSusy Cheston and Artie HarrisKaren and Michael ConeliusCarol deNeufvilleMarcia and Nicholas FidisJulie and Adam GoddardKristin and Todd HenryJulie HindmarshNoelle and John LynchNancy and Bob PlaxicoHelen and Gordon SmithHubert Stiles and Constance Pohl StilesHolly and Gary TownsendKathy and Mark VaselkivAnn and Robert WieczorowskiMary Jo and Ted WieseDina and John Yetman

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

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.

16

wOMEN’S OppORTuNITY NETwORk (won)

MASSAcHuSETTSSandra and Bob BowdenNancy BradyBetty Jane “BJ” and Herb HessTina and Jonathan LiuKeith LoweyRosemary McNaughton and Gary Felder

MIcHIGANDave and Coleen KahleJulie and Robert MontgomeryRoger and Jean SteedRichard and Virginia Williams

MINNESOTAPatti and Jim ArnoldCynthia Baune and Douglas FultonKaren and Dave BeadieMignon and Scott BergsHelen Meyer Bieber and William BieberStacy and Matt BogartCarole and Glenn BollesWard and Kris BrehmBlythe BrendenBill and Karen BrownJeannie and Bill BucknerPeggy BurnetCassidy and David BurnsJacqueline ByrdJeremy and Krista CarrollDavid and Michelle ChoeTim and Tara ClarkJennifer and Gregg ColburnGlenda and Fritz CorriganSandra DavisDeb and Jim DeanovicPeter DeanovicGayle and Tim DeVriesAmy and Keith DowneyMegan and Dennis DoyleJanet and Dan DryerJennifer EckertKarol and Dick EmmerichDiane and Tom EricksonJill and Tim GeoffrionPenny and Bill GeorgeRyan GilbertsonTerri and Rick GundersonJoyce and Thomas HansenMindy and Stanley HargroveKathy and James HaymakerLisa and Dave HintermeisterMichelle Jirik

Linda Hall KellerTracy KirbyNorma and Patrick KleinAndrea and Ben KnollVenetia and Robert KudrleSarah and Steve KumagaiMolly and Peter LarsenAnita and Rick LeggottSusan and Mark LewisMargaret and Donald LongletBarbara LupientMartha (Muffy) MacMillianPolly and Robert McCreaKatie and Michael McElroyLizabeth McKibben and Fred McDonaldKarin and Mike MelochAnn and Fred MooreBarb and Terry MuelkenCarolyn and Bob NelsonBlue and Cliff OlsonKelly OlsonKelly and Michael PalmerEvonne and Jim PedersenCindy and Tad PiperLindsay and David PolyakTom and Mollie RaihDonna and Frank RavndalAmy and Chris RevakMarian and Curtis SampsonJennifer and Herve SarteauJennifer and Christopher SawyerColleen and Peter SchleiderCathy and Charlie SnyderEmily and Nolan SoltvedtMargie and Phil SoranMary Lynn and Warren StaleyJayne and Daniel TaylorKimberly and Mark ThompsonLisa and Jay TschetterLiz and Rolf TurnquistEmily and Andrew VennerstromJenny and Bob VernerMary Sue and Peter VorbrichDiane and Jay WissinkNicole and Kirt Woodhouse

MISSOuRIRick BagyDave and Lauren LowmanRichard McClure and Sharon Buchanan-McClureTom and Jill MollerHarry and Genie MuellerJohn and Nancy Ross

David and Wilma SchoppDrew and Meg SmithKevin and Pam Voss

NEBRASkAMildred HindmarshDonna and Todd Strubbe

NEvAdALaura and John BlackburnJulie and James Voorhees

NEw HAMpSHIRESally and Alan Gayer

NEw JERSEYDianne and Brian ClarkChristine and David EdwardsSally and David McAlpinMarilyn and Mike ModakRaouf Morcos

NEw MExIcOStirling and Robert BellDeborah and David Douglas

NEw YORkLazarus AngbazoTim BilmanisLindsay BollesDeborah FarringtonTim C. Geoffrion, Jr.Kathryn and John HartCarol HexnerRandy and Eric HustvedtKaren and Douglas JohnstoneTracey McCabeDoris and Don MeyerJeff and Karin MeyerHee-Jung and John MoonBrent and Jill PearsonSusana and Anthony PiscitielloLiesel Pritzker Sabra and Bill ReichardtErika and Richard StehlAndrew SternCissy and Curtis ViebranzBrian Zakrocki

NORTH cAROLINAElizabeth and Bob BridgesLiz and Steve EubanksCarol and Tom FourreTimothy and Laura LappAllison and Michael LappinBecky and Mark LinszKaran and Tom MooreLeigh and Jerry MoranBill and Shelley MorgensternAnne and Mark PaulsonMarion and Michael ShieldsBarbara and Ken Sibley

Darla and Tom SkeltonKathy and Jeff TennysonCindy and Ed WatkoKara and Price WhitfieldNancy and Randy Wiersma

OHIODennis and Denise BlankemeyerTimothy F. GeisseDan and Debbie QuiggChristina SomervilleRobert and Martha WhittingtonJim and Donna Wyland

OkLAHOMALeitner and Kenneth Greiner

OREGONAmy and Dan DuryeaStephanie and Steve GreerEugene and Karen Stoelk

pENNSYLvANIACheryl and Derk BergsmaDot and Mike BontragerHeather and Vern BurlingPam and Bob Byers, Jr.Jane ColemanIlonka and Jack ComstockHeather and Kevin GallagherBonnie and Chris GleesonSara and Peter GrimJennifer and David HallDiana and Samuel HarbisonPeg and Ed HarshawLois and James HerrNancy and Cameron HicksNancy and John HumphreysDoris and Lester LoucksCheryl and Doug McBreartyChristina and Tom NagelBonnie and Jonathan O’NeilCarla and Dennis ReustleKimberly and David SimmsSusan and Charles SteegeJoyce and Jim SweetLisa and Jeffrey ThomasMichael ToothmanMarge and Rick VolpeKaren and Ken VolpertSusan and Richard Zerbe

RHOdE ISLANdCynthia Frost

SOuTH cAROLINAElizabeth and Richard Hogue

TENNESSEEMandy and Mike GallagherJane and Mark Harris

TExASAbbi and Robert AntablinLucy and Lindsay DuffJenny and Wendell ErwinMarilyn GreerWendall HirschfeldCharlsey and Jeffrey HollerEric and Ann JacobsonMarietta and Ted JohnsRita and Dick LeathersAmy and Michael MacariShara MichalkaAlan NashJeannie PascaleJudy and Frank ScarboroughPatti and Michael ScovelDiane and Terry StandeferMalcolm StreetJoy and Benjamin WarrenAnn and Jerry Zamzow

vERMONTMargolyn and Charles AndrewsSusan and Ben Anderson Ray

vIRGINIANancy and Peter BrooksTerese CollingMary CollinsPeter DaleyGretchen and Jeffrey DavisNan and Ernie FlynnJudith and David GrissmerKatherine HaleyShelley and Thomas JenningsBart MasseyTrudy and John McCreaNancy and Robert McIntoshBarbara McKee and Jeffrey PfoutzJaney and Bruce SmithPriscilla and Kadita Tshibaka

wASHINGTONDavid and Misty GriegerLaurie and Greg NelsonJohn Sage

wIScONSINMark and Dawn FuchsPaul and Lois HeissRobert KellerHilton and Jean NealCarol and Grant Nelson

INTERNATIONALLynne and David BaabRoss ClemengerBetsy and John EckbertPeter KingJanelle Muntz LassondeSearl Vetter and Jules KortenhorstKimberly and Terry WatsonJorie and George Yen

Alana AldagCaitlin AndrewsIan AndrewsAbbi AntablinMark BacolodLucy BerenatoSchafer BomsteinKate BorchersAmanda Britt Marisa BrownAna Brown-CohenDiana CareyMichael CareyJeremy CarrollKristin CarrollCaryn CarverElise CasterNiki Chalfant

Mandy CheungTaina CollazoKatherine DaissPeter DeanovicDanielle Diardo Lauren DillonKristen DoyleNeal DrummJason DuffAnne EdwardsonEmily EganKate FeickTroy FinniganTara FlynnSara FreerDavid GardnerElizabeth GradyBrandon Green

Sarah GreenEliza GriffithKatherine HaleyAaron HallChelsea JacobsEmily JansenBianca JavierAlyssa KnauerBridget KohaShannon LeutheuserRonica LoganiBarbie LucioMichelle MakBrandis MeeksAndrea MeyerTom MontgomeryJennifer MurtieJosh Murtie

Brian NathansonJennifer NelsonTracey NeretKristen OlingerCarlton OliverSuzanne OonincxAlison OviedoLindsay PartonRaan PartonChristina PerezLiannette PerezMonica PerezBlake PerryStevie PerryNathan PopkinsLiesel PritzkerSheila RamachandraHannah Reynolds

Joseph SandlerRichard ShawmKarl SkareEmily SoltvedtNolan SoltvedtAmy SteinhoffAndrew VennerstromEmily VennerstromMichelle VolpeJessie WildJessy WilliamsonCorey WoodEmily YahrDrew YanceyBrian Zakrocki

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

YOuNG AMBASSAdORS for OppORTuNITY (yao)

17

fROM fORcEd LABOR TO fREEdOMIn 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.

18

JIM BAuMGARTNER Director of Corporate Affairs Caterpillar Foundation

dR. TONY cAMpOLO Professor Emeritus Eastern University

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)

REv. THEOdORE HESBuRGH, c.S.c. Former President University of Notre Dame

LT. GENERAL cLAudIA J. kENNEdY U.S. Army (Retired)

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

BRAdLEY J. BELL Wheaton, IL

STEvEN d. cOSLER Winter Park, FL

ROdNEY dAMMEYER San Diego, CA

SANdRA dAvIS Edina, MN

dEBORAH A. fARRINGTON New York, NY

SuSAN GILLETTE Winnetka, IL

JAMES w. HAMILTON (secretary) Laguna Beach, CA

BETTY JANE “BJ” HESS (cHair)Hingham, MA

pETER kING Sydney, Australia

JEffREY S. MEYER Orchard Park, NY

THEOdORE d. MOSER Oakland, CA

dAvId L. SIMMS (ex officio)Newtown Square, PA

JILL dAILEY SMITH River Forest, IL

NATHANIEL SuTTON Flossmoor, IL

MARk A. THOMpSON (vice cHair)Minneapolis, MN

kAdITA “A.T.” TSHIBAkA Spotsylvania, VA

MARk vASELkIv (treasurer) Baltimore, MD

wE wELcOME THE fOLLOwING BOARd MEMBER IN 2011:

MARk LINSz Charlotte, NC

BILL MORGENSTERN CEO

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

BOARd of AdvISORS executive TEAM

BOARd of dIREcTORS

19

strategic partners

expanding aCCess, reduCing CostsleFt 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 point-of-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

ACDI/VOCA

AfriCap

Bill & Melinda Gates Foundation

Blue Orchard Finance

Caterpillar Foundation

Catholic Relief Services

Conrad N. Hilton Foundation

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)

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

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

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.

to learn more, visit opportunity.org.

Printed on paper containing post-consumer content.

“ Through my work with Opportunity International in sub-

Saharan Africa, I have seen firsthand the dedication to

serving the most vulnerable and hard to reach people by

leveraging technology to reduce costs and listening to

clients to design financial services that meet their needs.

The Bill & Melinda Gates Foundation’s partnership

with Opportunity furthers our shared goal to provide

millions of people in the developing world with affordable

access to savings services.”

400.1.0511 ©2011 Opportunity International

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.

2122 york road, suite 150 | oak Brook, illinois 60523 | 800.793.9455

support from the Bill & Melinda Gates

Foundation enables opportunity

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,

convenient place to make deposits. the

closest alternative for these villagers is

a traditional bank 60 kilometers away.

Photo courtesy of the Bill & Melinda Gates Foundation

— tamara Cook, program officer Financial services for the poor

Bill & melinda gates Foundation