ventures
NEWSLET T ER OF AC CION INT ERNAT IONAL SP RING/SUMM ER 2011
‘The World Is Very Different Now’
50 Years in, ACCION Takes on Full Financial Inclusion
Fifty years ago in America, hope sprang
anew. John F. Kennedy had just been
sworn in as the 35th president, proclaiming, “The world is very different now.
For man holds in his mortal hands the
power to abolish all forms of human
poverty…” It was a time of promise for
America’s youth.
Joe Blatchford was one of those inspired
by the sense of possibility sweeping his
generation. The young tennis standout
had just graduated from UCLA and
embarked on a goodwill tennis tour of
Latin America. He was alarmed at the
intractable poverty he encountered in
every city he visited and returned home
determined to do something about it.
So in 1961, he and a few friends started
ACCION (an acronym for Americans
for Community Cooperation in Other
Nations) to marry that spirit of service
with the grit and determination of
Venezuela’s “barrio people”—and
ultimately find a way to improve
people’s lives.
A microentrepreneur in
Yuanbaoshan, Inner Mongolia—
home of ACCION’s own
microfinance institution,
ACCION Microfinance China
(founded in 2009). ACCION
was one of the first organizations to create a privately
owned microcredit company
in China, where more than
300 million people live on less
than $2 a day.
The idea of ACCION was
simple—to help people
help themselves and thus
INSIDE THIS ISSUE
find a more sustainable
◗ From the Field:
solution to poverty and
◗ Spotlight on Our Supporters:
deprivation.
◗ A Lifetime of Helping Millions
◗ Expanding the Herd 3
Smart Microfinance 4
The Gillett Family 5
Help Themselves 5
In its efforts to find better ways to spur
bottom-up development, ACCION experimented with a new way to generate
economic opportunity, piloting the idea
of microcredit—tiny loans for the selfemployed poor—in northeastern Brazil
in 1973. They discovered that people
paid back their loans, expanded their
◗ In the Streets and Markets 6–7
◗ Thanks to Our Supporters 8–11
(Continued on page 2)
www.accion.org
‘The World Is Very Different Now’
( Continued from page 1)
Clients visit a BancoSol branch in La Paz, Bolivia. BancoSol, which ACCION helped establish in 1992, was the world’s first commercial bank dedicated solely
to the poor.
businesses and increased opportunities
for themselves and their families. And so
began the field of microfinance.
Thirty-eight years later,
the industry has shown
both promise and progress
—150 million people are
now being reached by
microfinance. But this
growth is accompanied
by increasing complexity
and uncertainty.
Today, along with countless tales of microentrepreneurs working their way out of
poverty, we also hear of people falling
◗ 2 VE NTURE S Spring/Summer 2011
into the trap of over-indebtedness, along
with irresponsible lending and collections practices by some microfinance
institutions.
These developments are deeply concerning to the world’s microfinance leaders,
including ACCION. In a way, these
challenges force us to return to the basics.
What we collectively need to strive for,
and what ACCION’s newly focused
strategic direction centers upon, is full
financial inclusion. That means providing access to everyone who can benefit,
including many of the two billion people
across the globe who still lack access to
formal financial services.
Why is full financial inclusion so important? Living in poverty is an incredibly
fragile existence, right on the edge—
a single event away from destitution,
deprivation and even starvation. Access
to financial services can make a difference and help mitigate the persistent
vulnerability of living in poverty.
Full financial inclusion means going
beyond microcredit. It means providing
individuals with the same range and
quality of financial products and services
that those of us in the developed world
have come to take for granted. Regardless
of income or collateral, people should be
able to save for their children’s education
in a savings account, open an insurance
policy to protect against floods or fires,
send and receive remittances safely and
cheaply between countries and take out
affordable loans to bring their microenterprises to the next level of profitability.
And, perhaps most importantly, people
should be able to do all of this while
being treated with respect and dignity.
That is why these principles are the crux
of ACCION’s newly revised strategic
plan and lie at the heart of the Smart
Campaign, a global initiative to promote
client protection principles in microfinance, for which ACCION, through its
Center for Financial Inclusion, serves as
the secretariat.
Going forward, ACCION will continue
to harness the world’s capital markets to
build bigger and better microfinance
institutions that seek not just a financial
bottom line, but a double bottom line.
Our goal is to maximize social and
economic returns. By pursuing social
goals through commercial means, clients,
institutions and investors all benefit.
ACCION has never been more committed
to helping millions help themselves. We
aim to do so through our expert management services, our investment activities,
our governance role at microfinance
institutions around the world and our
industry collaboration.
Fifty years ago, JFK gave voice to the ambitions of a small group of recent college
graduates. Today, ACCION continues to
be motivated by his message and by
the people we serve—the hardworking
men and women and their families—
who shape our work. It is their courage
and ingenuity, and the power of their
dreams, that continue to inspire us.
For more information about ACCION's work
around the globe, visit www.accion.org.
EX PAN DIN G
THE HERD
Tanzania’s Ndeni Tengeru
Uses Microfinance to Shepherd
Her Family Forward
In a lush green area near the town of Arusha, northern
Tanzania, Ndeni Tengeru runs a small farm where she
raises livestock—cows and goats for milk, and chickens
for eggs. She cherishes her cows in particular, giving them
names like ‘Bahati,’ which means good luck in Swahili.
Forty-two-year-old Ndeni began raising livestock 20
years ago to supplement the small farming business that
she ran with her brothers and sisters; farming alone
was too risky to support them each sustainably. As she
started raising a daughter in addition to her animals,
the pressure of another mouth to feed began to weigh
on her. In 2000, Ndeni turned to ACCION partner Akiba
Commercial Bank to secure a loan for US $370. The
money enabled her to pay for her daughter’s school
fees outright and reinvest her income from selling milk
Akiba is growing, too. Today,
ACCION provides Akiba with its
signature package of institutionallevel support—including investment,
management and governance—
and eggs back into raising livestock.
helping the institution to develop
With eight subsequent loans, Ndeni has bought
and deliver financial services that
additional goats and chickens. The extra money has
empower nearly 20,000 microentre-
also served as a security net, enabling her to save
for unplanned events, like when she needed to pay
a doctor to help one of her cows give birth. And
preneurs like Ndeni, and 127,000
with added income, she is now able to build a shed
savers, with opportunity.
to house her expanding herd of beloved cows.
To meet more microentrepreneurs, visit www.accion.org
www.accion.org 3 ◗
V O IC ES F ROM THE FIEL D
Smart Microfinance
Top row from top left: Isabelle Barrès, Yuhe Zheng; bottom
row from left: Mila Mercado-Bunker, Elena Ameriva, Thomas Rodriguez
Industry Professionals Reflect on
the Importance of Client Protection
in Microfinance
“The Smart Campaign means a lot to me. Honestly, I take
this as a great opportunity to learn and see the whole
world of microfinance develop.”
—Yuhe Zheng, Harbin Bank, China
This year, ACCION has sharpened its focus on a key
strategic priority: full financial inclusion. Full financial
inclusion means high-quality financial services, provided at affordable prices, in a convenient manner and
with dignity for clients. This last pillar, protecting
clients’ dignity and rights, lies at the heart of the Smart
Campaign, a global initiative made up of microfinance
leaders from around the world who believe that protecting clients is not only the right thing to do, but the
smart thing to do. The Campaign, led by ACCION, is
equipping the microfinance industry with training, tools
and more to ensure a mutually beneficial scenario in
which both clients and institutions thrive.
In January, Ventures caught up with participants of the
Smart Campaign’s “Smart Assessors Training” in Mexico
City and asked them to share their thoughts on client
protection and the Campaign:
“The protection of the clients is very, very important
because they are the people we serve. They deserve the
best services and they need to be protected from anything
that may happen to them, to alleviate them from poverty,
which is the mission of microfinance.“
—Mila Mercado-Bunker, Ahon Sa Hirap, Inc./
Microfinance Council of the Philippines, Inc., Philippines
◗ 4 VE NTURE S Spring/Summer 2011
“The client is everything. If there are no clients, there is no
business. If clients are not satisfied, you cannot succeed.”
—Elena Ameriva, Microfinance Centre, Poland
“We [at REDCAMIF] understand that client protection is the
first step in social performance management. We need to
be responsible to the clients and promote financial education,
to make sure they know about our services and products.
We try to help our clients to live better.”
—Thomas Rodriguez, REDCAMIF, El Salvador
“My hope for the future of the Smart Campaign
is that it becomes obsolete. That stakeholders
involved in the microfinance industry ... live
and breathe client protection principles and take
them into consideration in every aspect
of their operations.”
—Isabelle Barrès, Director of the Smart Campaign
To learn more and endorse the Smart Campaign, please visit
www.smartcampaign.org.
Spotlight on Our Supporters
Agents of Change:
The Gillett Family of Chicago
To talk to long-time ACCION supporters
John and Michele Gillett is to be inspired.
Their collective work supporting microentrepreneurs throughout Latin America,
street children in Mexico and victims of
domestic violence in Chicago has been a
calling to which they’ve enthusiastically
responded for many years.
In fact, it was after a tour in the Peace
Corps that John first heard about ACCION,
back in the 1970s. He remembers thinking about microfinance, “Now that’s a
great idea.” Years later, when John and
Michele attended their first ACCION
John (second from left) and Michele Gillett (far
right) at home in Chicago with their four children,
(from left) Simonie, Bryant, Zach and Zoe.
network of private schools in Guatemala
that uses a practical, skills-based model
to educate low-income children.
Throughout the 1990s, the Gilletts
attended several more ACCION delegations, bringing along their other children
and inspiring in them both a love of Latin
American cultures and a life of active
engagement. Back home, John translated
his enthusiasm for ACCION’s work in
Latin America by becoming a founding
board member of ACCION Chicago in
1994. “Our experiences with ACCION
have continued over the course of our
lives,” reflects John.
Today, John and Michele split their time
between a home in Chicago and a home
in Sayulita, Mexico, where Michele is
on the board of a thriving community
center called entreAmigos. When asked
about the role volunteering and philanthropy have played in her life, she answers without hesitation, “I feel, from a
selfish standpoint, that it has fueled my
being. I couldn’t operate without that
connection—it’s been life-completing.”
To learn more about how you can support
ACCION’s work around the globe, visit
www.accion.org/donate, call 617-625-7080
ext.1445 or email donate@accion.org.
ACCION would like to
delegation to Guatemala in 1992, the
power of the model really hit home for
them. Says John, “It was a huge milestone experience for me … seeing how
you’re transforming people’s experiences through their own work. It was
just fascinating.”
At that point, John and Michele had
begun to pass along their passion for
social change to their four children. They
had brought their daughter Zoe along
on the delegation to Guatemala. The
trip would later inspire Zoe to partner
with a Guatemalan school teacher and
another ACCION supporter to create a
thank all of the individuals
and families who have
contributed to ACCION’s
mission to build sustainable solutions to help
empower the world’s poor.
On behalf of the millions
of people you have
helped, thank you for
your generous support.
A Lifetime of Helping
Millions Help Themselves
This year, as ACCION marks its
50th anniversary, we celebrate
those individuals who have given
so generously to help microentrepreneurs around the world.
The following individuals are
ensuring brighter futures for
countless families through their
lifetime giving of over $50,000.
Anonymous (11)
Peter and Joanne Ackerman
Karen and Jim Ansara
Robert and Patricia Ayres
Thomas C. Barry
Albert Bildner
Susan and Eric Boyd
Titus and Wendy Brenninkmeijer
William Buffett and Susan Kennedy
Amy Butte and David Liebowitz
Michael and Victoria Chu
Brian and Susan Clancy
Eleanor Crook
Lisa Crosby and Paul Becker
Donna Dubinsky and Leonard Shustek
John C. Duncan
Russell and Carol Faucett
Kenny and Joyce Felder
Pamela and Peter Flaherty
Robert L. Friede
Timothy and Jane Geisse
John and Michele Gillett
Gilbert W. Glass
Bob and Elly Gordman
Patrick and Margaret Grace
Madeleine B. Grant
Joseph and Patricia Gross
Eric and Susan Grossman
Esmond Harmsworth
Alfredo Harp Helu
Gustavo A. Herrero
Ronald and Dianne Hoge
Richard and Roberta Huber
The Estate of Judith Jones
Edwin A. Joseph
John and Marjorie Kayser
Christopher Kennan
Tara C. Kenney
Marcia and Eric Kessler
Timothy and Jennifer Kingston
Keith and Adine Kretschmer
Barbara Lucas and Richard Nesson
Daniel R. Martin
Charles E. Merrill, Jr.
Richard and Linda Miller
David and Katherine Moore
Birch and Catherine Mullins
Mike and Joyce Murray
Thomas Nagle and Leslie Haller
Michael O’Shaughnessy
Robert and Katie Pattillo
Wendy J. Paulson
Lawrence and Pamela Phelan
Michael G. Rauenhorst
Arthur and Toni Rock
David Rockefeller
Álvaro and Marcela Rodríguez Arregui
Gabriela and Bob Romanow
Norman C. Rose
William and Anne Russell
James and Susan Schoedinger
John and Marilyn Scott
Jane M. Siebels
Mark D. Smith
Richard L. Smith
Salwa and Robert Smith
The Estate of Estelle Smucker
Cyrus and Joanne Spurlino
The Estate of Irene G. Steiner
Roger and Susan Stone
Lucy and Daniel Stroock
Kathleen M. Waldron
Peter and Annabelle Wallace
www.accion.org 5 ◗
IN THE S TREETS AND MARKETS
Cameroon
On February 18, ACCION and Ecobank, a
leading pan-African bank, officially inaugurated
EB-ACCION Microfinance. The new microfinance institution is already serving over 6,000
enterprising individuals in Douala, Cameroon
with microloans, savings accounts, insurance
and money transfers. For Cameroon, where
microfinance is nascent and the informal sector
is thriving (77 percent of economic activity
and employment is estimated to be generated
by the informal sector), this is exciting progress
Mexico
toward financial inclusion. To view a slideshow
In January, ACCION and SEEP welcomed 30
of images from EB-ACCION Microfinance, visit
microfinance professionals representing
ACCION’s Media Center on www.accion.org.
20 international networks to Mexico City for
a first-of-its-kind training aimed at making the
microfinance industry more responsive to client
needs. Part of the global Smart Campaign, the
workshop trained these network representatives
in the Campaign’s Client Protection Principles.
Learn more at www.smartcampaign.org.
Brazil
On February 1, ACCION opened the doors
of ACCION Microfinanças, a new microfinance
institution in Manaus, Brazil. Located in this
remote city of roughly 1.5 million in the heart
of the Amazon, the new bank will reach out
to the region’s estimated one million entrepreneurial poor with loans, bank accounts
and more.
◗ 6 VE NTURE S Spring/Summer 2011
Get Ready to
Pedal Against
Poverty!
Do you want to support a smart,
sustainable approach to helping
the world’s poor help themselves?
Join MicroBike
October 1–2, 2011
MicroBike invites you to get on
your bike and design your own
“microride”—or link up with
one in your community—to raise
awareness about global poverty.
With MicroBike, you and your
fellow riders will help to advance
the ability of microfinance to
help millions of people build
brighter futures for themselves
and their families.
Worldwide
Even though a significant percentage of the
world’s unbanked poor are people with
disabilities, they account for less than one half
India
of one percent of all microfinance clients. To
ACCION recently issued two credit guarantees
begin breaking down the barriers to finance
to its Indian partners Swadhaar and Saija
that currently separate microfinance institu-
in order to help them continue serving their
tions from those with a disability, ACCION’s
combined 68,500 active clients. Through
Center for Financial Inclusion has launched a
these guarantees, ACCION is underscoring its
new initiative to bring together experts on
commitment to strengthening microfinance
both disability and microfinance from the
in India amidst funding constraints created
public, private and third sectors. Learn more
by the uncertainty surrounding microfinance
at www.centerforfinancialinclusion.org.
regulation there.
Visit www.microbike.org
for all the details!
You can also join us on Facebook
or follow us on Twitter.
In addition, ACCION’s Frontier Investments
Group recently invested in Vindhya, a
Bangalore-based business process outsourcing
company that specializes in helping microfinance institutions to reduce their operational
costs. Vindhya differentiates itself from the
competition by having a staff that is 95 percent people with disabilities.
For more information about ACCION's work
around the globe, visit www.accion.org.
www.accion.org 7 ◗
Thanks to Our Supporters
The following individuals provided generous
support between July 1, 2010 and December 31,
2010. We value and appreciate contributions
throughout the year.
Leadership Circle
($100,000+)
Anonymous (2)
Russell and Carol Faucett
ACCIONistas
($10,000 – $99,999)
Anonymous (4)
Robert and Patricia Ayres
Lynda Boone Fetter
Susan and Eric Boyd
Titus and
Wendy Brenninkmeijer
Amy Butte and David
Liebowitz
Donna Dubinsky and
Leonard Shustek
Robert L. Friede
Bob and Elly Gordman
Eric and Susan Grossman
Joe and Luisa Hamilton
Gustavo A. Herrero
John and Marjorie Kayser
Marcia and Eric Kessler
Timothy and
Jennifer Kingston
Barbara Lucas and
Richard Nesson
Lawrence and
Pamela Phelan
Richard L. Smith
Cyrus and Joanne Spurlino
The Estate of
Irene G. Steiner
Roger and Susan Stone
Lucy and Daniel Stroock
Diana L. Taylor
Partners
($5,000 – $9,999)
Anonymous (2)
Thomas C. Barry
Charles and
Martha Clifford
Gregory and Mary Fallon
Robert C. Fox, Jr.
Arlene H. Gage
Philip and Marcia Giudice
Joseph and Patricia Gross
Ronald and Dianne Hoge
Judith Ann and
Robert Kellogg
Tara C. Kenney
Michael and
Toby Gail Kumin
Michael and Cheryl Lexton
L. Taylor Mudge
Mitchell Nadel and
Beth Bennett
Patrick Peterson and
Shirley Tsai
Barry and Christine Phillips
Michael G. Rauenhorst
Michael and Jennifer Riedel
Paul Rogers and
Rosa Lasaosa
Gabriel and Janet Rozman
Margaret Senturia
James H. Small
Mark D. Smith
Mark and Anne Veldman
Jane Watkins
Mimi C. Yu
Challengers
($1,000 – $4,999)
Anonymous (6)
Charles A. Abela
Pauline M. Abernathy
Walter and Alice Abrams
Yvonne Adams
Joseph Albright and
Marcia Kunstel
Robert and Margaret Ayres
Steven Barg
Thomas and Karin Beecher
Martin Bernstein and
Pamela Oxenberg
Nancy Birdsall
Mary Bower
Susan Okie Bush
Anne Cadenasso
Patrick Cahn and
Madeleine Schulman
Clinton Caywood
Steve Chapman and
Carol Francis
Brian and Allayne Chappelle
Nirmal and
Ellen Chatterjee
Michael and Victoria Chu
Anne and
George Cleveland
Ron and Kathy Collins
Elizabeth Conant and
Camille Cox
Roger and Shirley Conant
Eleanor Crook
Cristina Danguillecourt
◗ 8 VE NTURE S Spring/Summer 2011
Roberto and Pauline Dañino
William Michael Dante
Alexandra de Saint Phalle
James Dehnert and
Patricia Worthington
Pam Dooley
Paul and Winifred Dooley
Rebecca A. Dowdakin
Robert Erck
Welcome Fawcett
Daniel Feinberg
Richard A. Fink
John-Paul and
Katherine Franklin
Michael Frenzel
Roger Frey
Lauren Friedman and
Jack Himmelstein
Robert and
Maria Goldstein
Don R. Goodman
Patsy Graham
René Graner
Robert A. Granieri
Carl Haefling and
Pamela Johnson
Deborah Hebblewhite
Richard Hedden
Robert and Betsy Helander
David and Brenda Humm
Barbara L. Hunt
Amy K. Hunter
Roy Jacobowitz and
Roberta Moss
James Janney
James S. Jarvis
Ken E. Joy
Edward M. Juda
Samuel Kardon
Jeanie and Murray Kilgour
Jack Kotz
Sukhpal and
Jaswinder Kumar
Gabriella Laszlo
Marta Jo Lawrence
Erik Lazar
Bonnie H. Ledyard
Benjamin and Clare Lentz
Morelle I. Levine
Mary Liebman
Warren Lindeleaf
Martha Locke
James J. Long
Jennifer Loveland
Benjamin and Sandy Lovell
Steve Mark
Joan Y. McCabe
Sarah McCabe and
Russell Quong
Mark S. McConnell
Chandler McDowell and
Wendy Belluomini
Mark E. Meachen
Henry and Shelby Miller
Steven and Rhonda Miller
Robert Morris
Daniel Nicholson
John and Gloria O’Farrell
Martha Okie and
Anthony Fouracre
María Otero and
Joseph Eldridge
Jonathan M. Owen
Arturo Pacheco
Sarah Pacheco and
Mark Najarian
Ernest Paik
David Pierce
Catherine Quense and
Sandy Ahlstrom
Mel and Dee Raff
Robert and Julia Rainer
Jeanne Raisler and
Jonathan Cohn
John Reichertz
Benjamin W. Ritcey
Rita M. Rodriguez
Susan E. Ruland and
Dorothea Vafiadis
Bernard Sanders
Stuart and Mary Schonfield
Jodi Schwartz
John and Marilyn Scott
Richard and Gitte Shea
David and
Elizabeth Sherman
Martha Sibert
Jane M. Siebels
David A. Smith
Robert and
Andrea Solomon
Anne Sternlicht
Frances W. Stevenson
J. Arnold Teasdale
Benjamin and Lara Torgesen
Amir Torkaman
David and Kathy Trice
Nancy S. Truitt
Marcia Tugendhat and
James Montanaro
Neil and
Christine Valentine
Rebekah Vickrey
Elizabeth Walgren
Barry and Elsa Waxman
Ellen Low Webster
Christopher J. Winter
Katarzyna Witkowski
Judith and George Writer
Wenwei Yang
Jerrold and Linda Zindler
Advocates
($500 – $999)
Anonymous (6)
David Aldridge
Jill Aspinall and Rick Molz
Chris Bache
Jerald and
Virginia Bachman
Jeffrey Beale
Gerald and Dianne Berman
Peter Bevan
Michael and Lonna Bloom
Theodore Blumenthal
Thomas K. Boyd
Valerie Brackett and
Nikolaos Monoyios
John N. Brady
Jack N. Briggs
David and Sheri Brinkman
Carol Brown
Reto Buettiker
Patty A. Cabot
Terence C. Canavan
Roberta G. Carlisle
Lorene W. Chang
Pamela Church
Bernard L. Cohen
Michael Cohen
Richard M. Cooler
Russell Curtis and
Joanne Giannino
John and Nicolette Davis
Suzanne Day
Anthony Desiderio
Cristhian Dick
Ralph and Esther Dorsey
Richard Dumler
Stuart Edwards
Anne Ehrlich
Ronn Elmore
David and Elisabeth Eurkus
Jack Evans
Kaylene Farley
James Feldman and
Natalie Wexler
Gary Fender
George Fleming
Carol L. Franklin
Sandra Galejs and
Peter Warren
Zach Gast
John and Michele Gillett
Elizabeth and James Glenn
Edward Gracely
Dean and
Marilyn Greenberg
Sally S. Greenleaf
Charles and Jill Gross
C.W. and
Therese Hagemann
Robert Hagge
John and
Renata Hahn-Francini
Ruth Hartman and
Gary Wolff
James and Judith Healey
Tyler Heishman
Jeff Hewitt
David and Sharon Hicks
John Hirschi
Jerry and Helen Hopson
Don and Bonnie Howard
Dennis A. Hunter
Emmette Jacob
Neilson Jacobs
Monwhea Jeng
Irving and Alwyn Johnson
Curt and Betty Jones
Judy Judd
Frank Kane
David Kanowitz
Matthew Kell
Barbara A. Kelley
John and Lissa Kenney
Jerry Kickenson and
Kathleen Michels
Tienna Kim and Junmo Lee
Gary and Diane King
Robert and Jean Kline
Steve and Evelyn Knaebel
Christine Knuteson
Jennifer and Erik Kolderup
Janice Kopec
Michael and Natasha Kosoff
Kendra and Phillip Krolik
Frederick and
Emily Kunreuther
Stephen and Dawn Laird
Peter Lane
Barbara LeBel and Hari Areti
Christian Lehew
William C. Leininger
Terry and Barbara Lenker
Daniel Lew
Don and Pam Lichty
Heidi Logan
Marvin and Jane Maas
Judy and Will Mack
Mary A. Maldonado
Daniel R. Martin
Alfonso and
Christine Martinez-Fonts
Andrew Matteis
Paul McCarthy and
Orla O’Callaghan
Stephen P. McElroy
Mike and Lynda Meirick
Catherine S. Menand
Jesper J. Michaelsen
Jay and Catherine Morrow
Grant and
Barbara Mortenson
William Mueller
Joseph and
Rosemary Mullaney
Wenzel Müller
Peter A. Mullin
Robert and Jana Norton
Karen M. Nunley
Gail Odgers
Ewele Ofulue
Joe O’Shields
Paul Ouzts
Scott Page
Dipesh Patel
Adele F. Paynter
Chet Pelton and
Peggy Dalton
John and Sigrun Pfister
Georgia Pierce
John R. Poole
Leonard and Ruth Rau
William Reichert
Duncan Richardson
Julie Roden
Nicholas Rodenhouse and
Marianne Moore
Carlos Rodriquez
James and Marjory Russell
Arlene Saryan
Thomas Savignano and
Peter Benson
Lyle Schaffer
John H. Schatteles
James Scheuermann and
Michalina Pendzich
Michael Schlein and
Jordan Tamagni
Katharine Schrader
Michael C. Sharp
Joanne M. Shoemaker
Mitzi Simmons
Tajinder Singh
Arthur Sklaroff and
Clare Chang-Sklaroff
Louis and Jean Sloss
Kathryn Stahmann
Gary Stoller
Lea Stublarec and
Curtis Peterson
Garrett Stuck and
Pamela Coravos
Detlev and Ellen Suderow
Celeste J. Tambaro
Gomer Thomas
Valerie Thomas Hamilton
Tina Vandersteel and
Matthew Cressotti
Niel Wald
Alice and Frederick Wall
John Ward
Stephen J. Weed
Holly Wells
Katherine and
Jakob Westra
Linda Wieser and
Jim Rosbe
Tonia Willekes
David R. Willey
Marcelle M. Willock
Arlene M. Wilson
Erin Wong
A.M. Yackshaw
Friends
($250 – $499)
Anonymous (14)
Robert and
Rosalind Abernathy
Bruce and Susan Ackerman
Gary Adams
Maya Ahlstrom
Gregory Alper
Leif and Susan Ancker
Ellen and Edward Antal
Jordan J. Arbit
William and Carrie Ashley
Nancy Atwell
Katherine and D. Barnhill
Carole Barth and
James Zepp
Dawn Baxter
Elizabeth Letitia Beard
Elizabeth Bedford
Burton Belzer
Debbie L. Benner
Ann Berlin
Maria and Bryan Bertram
Esther and Alfred Beynon
Patricia S. Bidwill
William and
Wylla Mae Bitner
Henry and Joan Bliss
Donn W. Block
Bhikkhu Bodhi and
Chin Lee
Paul Booth
Joseph Borodach
Dawn S. Bowen
John Bradley
Hugh Brady
Christopher Brookfield
Marshall Brooks and
Stephanie Greene
Marcia Brown
Frances Burden
J. Murfree and
Patricia Butler
Pauline Ho Bynum
Paul D. Cadwallader
Traci and Dan Calabrese
Margaret C. Campbell
Betsy S. Card
Kent and Sarah Carrington
John Cecil
Constance and Neal Clark
Frederic H. Clark
William and Elloine Clark
Cynthia Clemson
Georgette Coakley
Edward H. Coburn
Lawrence Cohan and
Pat Kreger
Joseph and Mary Colaco
Andrew Colao
Linda Common
Don Cook
Larry and Marilyn Cooper
Kay and Tom Cottle
John and Carole Cotton
Patrick Curley
Judy D’Andrea
Aubrey Davis
James Davis
Carl and
Constance Dellmuth
Stephen D. Dictor
Frank DiGiacomo
Daniel Dokos
Suzanne Frankel Dunbar
Randall and Linda Dunn
Alan Dynner
Steven Dyson
Margaret Eberbach
Paul Egerman
Paul and Sharon Eklof
Skip and Johnny Elliott
Donald Endebrock
T. G. and Ralph Entrikin
Jason Erickson
Wes G. Ernsberger
Patrick Falkner
David L. Fanger
Terence and Sharon Faul
Celia Felsher
Denise and William Finard
Sally and John Fish
Sally Friedman
Kathryn D. Fries
Cris Gardner
Sheryl P. Gardner
Robert Gaskins
Marjorie Gebhart
Kurt R.A. Giambastiani
John Given
Helen W. Gjessing
Marvin and Sherna Gluck
Jonathan Gold
Maggie Gold
Daniel Goldstein and
Laura Williams
Irene Goodale
Zihna Gordon
Gail Gorlitz and
Samuel Gorlitz
Lee Graber
Mildred G. Grosser
Paul F. Haas
Mohammed Hafeez
Russel Hamilton
James C. Hand
Jeanne L. Hansen
Gina Harman
Preston M. Harrington, III
Richard Hart and
Jennifer Rose
Margaret A. Hawkins
Charles S. Herring
Konstanze Hickey
Frederic and
Caroline Hoppin
Consuelo and
John Isaacson
James and Nancy Janney
Stewart Johnson
Bernard Kastin
Carolyn Katz
Raymond J. Keaney
John and Cassie Keener
Brooks M. Kelley
Patricia Hill Kelley
Robert A. Kelly
Joseph Kenderdine
Peter Kenny
Kevin and Kathryn Kerns
Wayne and
M. Lynn Kinney
J. Richard Kint
Patrick Kleaver
Margaret Knight
Barry and Laura Korobkin
Arif and Deborah Kureshy
Mary Kurien
Mark and Leigh Kutil
James Lake and Shirley Seaman Lake
Patricia and Samuel Lancia
Richard and Dee Lawrence
Linda M. LeClair
Roger and Joan Lewin
Elizabeth A. Lichter
Carole Long
Jeffrey C. Lord
Vicki Marks
Nicholas Marshall
Philip Martens
Nicholas Mathewson
www.accion.org 9 ◗
Thanks to Our Supporters (cont.)
Dan and Melissa McCance
Donald and
Nancy McDaniel
Thomas Melsheimer
Mary A. Michaud
Kerry and Patricia Miller
Dick Millspaugh
Connie Milner
Geneva Moores and
Peter de Boor
Mark Moran
Theresa Mullan
Jeffrey and
Trisha Murawski
Robert Newman
Sam Newman
Brian Newnam
Lindsay Noll and
Luke Leafgren
Patrick and Ellen O’Donnell
William Ohs
Kim Ornelas
Mary A. Padol
Keith Pagnani
Tucker Partel
Henrik and Donna Patel
Andrew A. Patricio
Perry C. Peine
Karen L. Percy
Richard Perotti
Theodore Peyton
Gary Piccione
Patricia and Thomas Pinkos
Carole Pittelman
Sean and Sarah Pocock
Helga and Greig Porter
Joshua R. Rai
Abraham and
Senta Raizen
Robin Ratcliffe and
Lawrence Pixley
Karla Reed
Samuel and
Eleanor Robfogel
John B. Robinson, Jr.
Barbara Robinson
Joan Rogin
Edward Rose
Norman C. Rose
Jeffrey and Elinor Ross
Robert Rothhouse
William Ruffer
Joan Ryder
Joel and Carolyn Salon
Laura Sanders
Michel Santerre
George Sautter
Anand and Padma Savur
Carol R. Schaffer
Jonathan Schaffzin and
Melissa Benzuly
Catherine Schmidt
Roy Schmidt
Svato Schutzner
Philip Schuyler
JoAnn Schwartz
Jonathan Schwartz
Lisa Sebesta
Tasha Seitz
RJ Serra
Maura Shaughnessy
John and Martha Shaw
Thomas W. Sheehan
Ross and
Kathleen Sherbrooke
Mogan Shieh
Harold and Jane Shute
Douglas J. Simmons
Daniel and Elizabeth Slottje
Justin E. Sockett
Albert Soha
Chris Sorensen
John and
Catherine Spragins
Anne Godley St. Goar
Anne Steele
Annette Steiner
Robert Stepan
Robert A. Stolzberg
Eric and Mayra Strand
James W. Stricker
Benjamin Sunoo
Toshi T. Suzuki
Mark Tasch
Nathaniel Teichman
Neeza Thandi
Russell Tripp
Karen Truesdell
Jennifer D. Wagner
Ellen Walton
Scott and June Waltz
Andrew Waples
Lelon and Jean Weaver
Lawrence Weschler
Lora L. Western
James Wheaton
Anna S. Whitcomb
Michael O. Willson
Joseph and Alison Winter
Barbara Wornum
Pamela G. Wrigley
Mary Jean Zamboni
Joanne C. Zema
T. G. Zimmerman
◗ 10 VENTURES Spring/Summer 2011
Sustainer’s Society
The Sustainer’s Society
honors and recognizes a
special group of loyal
supporters who demonstrate their long-term
commitment to alleviating poverty by making
monthly gifts.
Anonymous (30)
Michele Abruzzo
Miriam Adlum
Robert R. Ammerman
Jordan J. Arbit
Mikal Baker
Linda Ballas
Darrell and Laurel Batson
Anne Baum
Barbara Bechtel
Alberto Bernhardt
Vincent J. Bertino
Peter Bevan
Sondra Birkenes
Adam J. Boltz
Daniel F. Bostwick
Dawn S. Bowen
Mary Bower
Molly Brewton
Marcia Brown
Deborah D. Buffton
Jacqueline Burnett
Virginia Burns
Patty A. Cabot
Traci and Dan Calabrese
Betsy S. Card
Gerda Carmichael
Maria Caruso
Vincent Casalaina
Nicole Soucy Cassidy
Jonathan Cheetham
Edward H. Coburn
Richard Conn
James Davis
Elvin De La Cruz
Walter Denley
Sandra Detwiler
Leah and Kenneth Dick
Eileen Dicks
Stephen D. Dictor
Mary Doerr
Jeane J. Doncaster
Alice Doppler
Nellie Dorn
Don and Jan Downing
Sandra J. Downs
Margaret Eberbach
Mark Ekblad
Jason Erickson
Wes G. Ernsberger
Sandra Esner
Robert Evans
Patrick Falkner
Keitha Farney
Kathryn Feig
Mark Fernquest
Maribel Finley
Judith Flynn
Stephanie and
Owen Foizen
Darvin Foo
Arthur R. Foster
Tim Foulkes
Dennis and Carol Friedman
William Frohn
William R. Garner
Ilse Gay
Mary L. Glatt-Banks
Aruna Goel
Hazal Gokmen
Gerard J. Goodman
Vickie and Gary Greaves
James and Lucinda
Grovenburg
Cami Grover
Barbara Hale-Seubert
Seymour Hanan
Elen Hanley
Steve and Hilary Harston
Thomas F. Heck
Robert and Sonia Heinz
Jonathan Hera
John Hoffman
Nancy Houk
Mary Hudgins
Philip Incao
Emmette Jacob
Jacques F. Jacobson
Ellen Johnson
Diana Keegan
Gerald Kercher
Jonathan Kimmel
Janet and Alvin King
Wayne and M. Lynn Kinney
Marcella Klein
Robert and Jean Kline
Eric Klootwyk
Yves and Carol Kraus
Kendra and Phillip Krolik
Frederick and
Emily Kunreuther
Louise Ladd
Peter Lane
David Langford
Christopher Lee
Edward Lesen and
Clarice Pollock
Joan Levine
Daniel Lew
Eileen D. Logan
Joan Lomaki
Larry Lomax and
Barbara Wendt
Robert Loucks
Jane W. Lusk
George and
Beatrice Luthringer
Ron Luz
Gabriella Maertens
Ernani Magalhaes
Vicki Marks
Susan Martin
Everett Matz
Beverly Maughan
Diane L. McAvoy
John H. McConnell
James McPherson
Luis Mendoza
Bill Messerschmidt
Jesper J. Michaelsen
Steven P. Millard
Roger Miller
Steven and Rhonda Miller
Mary D. Moon
Ariel Morgenstern
Jeffrey and Trisha Murawski
Patricia Murphy
Lindsay Noll and
Luke Leafgren
Robert and Jana Norton
Ellen Oppler
Angeline Pappas
Andrew A. Patricio
William and Mary Jo Peters
George Peterson
Louise Popkin
Eva Prescott
Mary M. Printzenhoff
Karla Reed
William Reichert
Sara Rhoton
Billie Jo Richards
Charles Robinson
Fran and Maura Roby
Heather A. Rodin
David Roscoe
Lawrence Rosen
Nancy Rudolph
R. W. Rumsey
J. Rusciolelli
Terrance W. Ryan
Michel Santerre
Calvin L. Satterfield
Linda Schreiber
Martha K. Schuh
JoAnn Schwartz
Luke Shafnisky
Gregory and
Josephine Shaya
Thomas W. Sheehan
David M. Silverman
Darrell Smith
Emil Smith
Justin E. Sockett
David R. Southern
Bruce and Julie Spring
Kevin M. Stoner
Beverly J. Sutton
E. Michael Sweeney
Loyola Sylvan
Betsi J. Taylor
Paul Tice
Jennifer Tice
Nancy T. Trimble
Altagracia Trinidad
Russell Tripp
Henry Valente
Mario Valladares
Leon B. Van Leeuwen
Jordan VanderLaan
Benjamin Viemeister
Pauline Vu
Lelon and Jean Weaver
Margaret Welin
Leslie Wilbur
Tonia Willekes
Jo Ann Williams
Sheila Williams
Enery Williamson
Virginia Windley
Catherine Youngen
H. Berrien Zettler
David Zimmerman
T. G. Zimmerman
Institutions
$100,000 and above
GDS Services International
Limited
Academy for Educational
Development
Citi Foundation
Credit Suisse Group
Faucett Family Foundation
The Ford Foundation
Inter-American Development Bank
International Finance
Corporation
MasterCard Foundation
Netherlands Development
Finance Company (FMO)
Institutions
$250 – $99,999
The Lansdowne Fund
Lasky Charitable Lead Trust
Walter and Alice Abrams
Family Fund
ACCION Investments in
Microfinance, SPC
J.C. & S. Adams Fund of
the Community Foundation of Jackson Hole
ANSYS, Inc.
Argyle Foundation
The Barrington
Foundation Inc.
The Bungie Foundation
Angelo R. Cali &
Mary V. Cali Family
Foundation, Inc.
Calmeadow
Cascade Foundation
The John and Mary Corcoran Family Foundation
Patrick and Anna M.
Cudahy Fund
The Dawe Family
Foundation
Deutsche Bank Americas
Foundation
The Doehring Foundation
Eaton Vance Management
Femme
David and Hilda Fins
Family Foundation
John and Mary Franklin
Foundation, Inc.
The Frenzel Foundation
Fund for the Poor, Inc.
Rollin M. Gerstacker
Foundation
Green Cay Asset
Management
The Green Park Foundation
The International
Foundation
The Ken and Judith Joy
Family Foundation
KfW Bankengruppe
Lautman, Maska, Neill
& Company
Mouat Charitable Trust
The Vincent Mulford
Foundation
The Nararo Foundation
The Narnia Foundation
New York Stock Exchange
Foundation
The Nordemann
Foundation
North Community Church
On the House Foundation
The Palmer Walker
Foundation
Peterson-Tsai Foundation
Redwine Family
Foundation
The Grace Jones
Richardson Trust
Rivinus Family Foundation
Robinson Family Trust
The Rumsfeld Foundation
Seedtime Fund, Inc.
Albert & Lillian Small
Foundation
Charles Spear Charitable
Trust
The Spurlino Foundation
Roger and Susan Stone
Family Foundation
The Thanksgiving Fund
Trinity Episcopal Church
Trull Foundation
The Turvey Family
Foundation
Weiss Fagen Fund
David F. and Sara K.
Weston Fund
Derk A. Young Memorial
Fund
Donor Advised
Funds, Matching Gift
Organizations &
Workplace Giving
Programs
American Endowment
Foundation
America’s Charities
AST Capital Trust
Company of Delaware
Austin Community
Foundation for the
Capital Area
Ayco Charitable
Foundation
Bank of America
BlackRock Matching Gift
Program
The Boston
Foundation, Inc.
Catholic Community
Foundation
The Chicago Community
Trust
The Columbus Foundation
Combined Jewish
Philanthropies
The Community Foundation for Northern Virginia
The Community Foundation of Jackson Hole
The Community Foundation, National Capital
Region
Dell Direct Giving Program
The DuPage Community
Foundation
Eaton Vance Management
Employees Charity Organization of Northrop
Grumman
ExxonMobil Foundation
Fidelity Charitable Gift
Fund
Fiduciary Trust Company
GE Foundation
Global Impact
Goldman Sachs
Google Inc.
The Greater Kansas City
Community Foundation
International Business
Machines
Jewish Communal Fund
Jewish Community
Endowment Fund
Jewish Federation of Metropolitan Chicago
JustGive.org
The Liberty Mutual
Foundation
The Merck Company
Foundation
Microsoft Corporation
Network For Good
The Pfizer Foundation, Inc.
Piedmont Financial Trust
Company
The Regence Employee
Giving Campaign
The Schwab Fund for
Charitable Giving
State Street Bank and
Trust Co.
United Jewish Federation
of Greater Pittsburgh
Foundation
Vanguard Charitable
Endowment Program
Wichita Falls Area Community Foundation
World Bank Community
Connections Fund
Xcel Energy
In-Kind Donors
Allen & Overy LLP
Blassys Microenterprise
eMagazine
Amy Butte and
David Liebowitz
District Hardware/
The Bike Shop
Foley Hoag LLP
Freshfields Bruckhaus
Deringer LLP
Gómez-Pinzón Zuleta
Abogados S.A.
Goodwin Procter LLP
Goulston Storrs
Hogan Lovells US LLP
Latham & Watkins LLP
Mayer Brown LLP
Meg Rodney Photography
Ropes & Gray LLP
Stuart and
Janice Shorenstein
Sidley Austin LLP
Recife Society
The Recife Society honors
and recognizes those
loyal supporters who are
helping to ensure the
future of hardworking
poor people worldwide
through planned giving.
Anonymous (2)
Charles A. Abela
Andres Acedo del Olmo
and Belinda Barrington
Ronald and
Patricia Anderson
James Bellevue and
Elena Lipkowski
Albert Bildner
Mark and
Margaret Burgessporter
Lynn Caporale
Carol Cavanaugh
Roger and Shirley Conant
William R. Dade
Ruth O. Frank
Emily Garlin
Gilbert W. Glass
Foster Goodwill and
Renee Hummel
Bob and Elly Gordman
Ruth Hartman and
Gary Wolff
June E. Heilman
Roy Jacobowitz and
Roberta Moss
Keith and Adine
Kretschmer
Roger L. Krouse
Roni Lebauer and
Michelle Ryan
Wendy and
Stanley Marsh, 3
Caroline Ramsay Merriam
Richard and Linda Miller
Thomas Nagle and
Leslie Haller
Mila Reyes-Mesia
Abigail Rome
Norman C. Rose
Robert and Sibylle Scarlett
Josie Sentner
George and
Barbara Lou Smyth
Irene G. Steiner*
Nancy S. Truitt
David and Laurel Walters
Gary A. Winter
* Denotes deceased
www.accion.org 11 ◗
5 0 YEARS–ONE MISS IO N
2011 marks 50 years of helping millions
help themselves at ACCION International!
As we think about our past contributions, we remain sharply focused on our vision for the future. Please
join us as we celebrate the promise of a world where everyone has access to quality financial services.
Learn more and get involved at www.accion.org/fiftyyears
PHOTO CREDITS
John Rae for ACCION International
p. 1, p. 2, p. 3, p. 4 all, p. 5 all
except center-bottom, p. 6 centertop and bottom, p. 12 top-right,
bottom-left, bottom-right
1960s > 1970s > 1980s > 1990s > 2000s
FSC
logo to
come
FSC logo to come
Address Service Requested
Return Postage Guaranteed
NON-PROFIT ORG
U.S. POSTAGE PAID
ACCION International
56 Roland Street, Suite 300
Boston, Massachusetts
02129 USA
BOSTON, MA
PERMIT NO. 56294