innovative solutions to global poverty · highlights from 2005 • helped mfi partners add 296,000...

INNOVATIVE SOLUTIONS TO GLOBAL POVERTY

To read more about Govindammal and other success stories, visit: unitus.com/success

Widowed at 28 with two children to support, Govindammal started making bamboo baskets and fans. Her meager income of $1.75 per day was not enough to take care of her family and pay the exorbitant interest on a loan from a local moneylender. In 2003, Govindammal joined ASA-GV (a Unitus MFI partner since December 2004) and used her fi rst loan to fully pay off her debts to the moneylender. With subsequent loans, she built a small shop to display and sell her products. Since then, Govindammal has tripled her income to more than $6 per day, her son and daughter are both in school, and she plans to use her next loan to rebuild their thatched home. “I am now confi dent that I can take good care of my children and provide them with a quality education. That is my life’s ambition.”

A MICRO-ENTREPRENEUR’S SUCCESS STORY– GOVINDAMMAL

AGE: 35, widow CHILDREN: One son and one daughter HOMETOWN: Thiruvanaikovil, IndiaLOAN HISTORY: 1st loan - $67, 2nd loan - $89, 3rd loan - $109 ASA-GV BORROWER SINCE: 2003 BUSINESS: Bamboo weaving

LETTER FROM THE PRESIDENT AND CEO

Geoff Davis (right)on a due diligence trip to Bangalore, India.

Dear friends and partners,

I love this work! I’ve spent the last fi ve years with some of the best people in the world, from the dynamic social entrepreneurs who lead our microfi nance partners, to the talented Unitus staff and Board, to the Unitus supporters who last year made this work possible through more than $5 million in donations and loans.

Five years ago we saw an opportunity to close the gap between the 500 million people who needed access to microfi nance and the 30 million who had it. We started Unitus on the theory that combining investment capital with strong management capacity could help close that gap by dramatically accelerating the growth of microfi nance institutions (MFIs).

I’m proud to report that our MFI partners continue to demonstrate that the Unitus Acceleration Model is working — they have consistently doubled the number of families they serve each year, and in 2005 were growing eight times faster than the industry.

In 2005, thanks to the dedication of our MFI partners, donors and staff:

• Our MFI partners provided life-changing microfi nance services to 296,000 additional clients, reaching more than 545,000 families by year end.

• From our offi ce in India we launched an aggressive initiative to help our India MFI partners empower 10 million poor families with microfi nance services by 2015.

• We were one of 25 organizations to receive Fast Company’s Social Capitalist Award, recognizing the innovation of our acceleration model.

In 2006 we will continue using our best thinking to apply innovative market-based solutions to the fi ght against global poverty. We expect to end 2006 with 13 MFI partners serving more than 1.3 million families!

If this kind of impact sounds as exciting to you as it does to me, I hope you’ll consider getting involved in our work.

Sincerely,

Geoff Davis President and CEO

Highlights from 2005• Helped MFI partners add 296,000

additional clients

• Added two new MFI partners to our portfolio

• Provided more than $250,000 in grants and arranged $2.45 million in debt to help our MFI partners fi nance their growth

Acceleration Goals for 2006• Help current MFI partners expand services

to more than 600,000 additional clients

• Establish six new Unitus MFI partnerships

• Use innovative fi nancing structures to provide MFI partners with debt and equity to fund their growth

OUR MFI PARTNER PORTFOLIO

ASA-GV, IndiaBandhan, IndiaBSS, IndiaGrameen Koota, IndiaJamii Bora Trust, KenyaPro Mujer Mexico, MexicoSKS, India

3,400,000

1,200,000

1,000,000

800,000

600,000

400,000

200,000

0Dec 2002 Dec 2003 Dec 2004 Dec 2005

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FY 06* End of Partnership(FY 06-09*)

ACCELERATING UNITUS MFI PARTNERS TO EMPOWER MILLIONS

UNITUS MFI PARTNERS - DECEMBER 2005

PARTNER INFORMATION CLIENT INFORMATION FINANCIAL INFORMATION UNITUS INVOLVEMENT

Partner (Unitus Partnership

Start Date) Location

Number of Full Time

Staff

ClientsAdded SincePartnership Start Date

Number ofClients

FY 06*Client

Projection

End of Partnership Client Projection

(FY*)

Portfolio at Risk

>30 Days

Maximum 1st Loan

SizePortfolio

Outstanding

Key Capacity-Building Projects in 2005

Total Capital Committed by

Unitus

ASA-GV (12/04) Trichy, India 433 13,751 79,751 125,000 500,000 (09) 1.9% $ 70 $ 4,540,223 $ 1,100,000

Bandhan (4/05) Kolkata, India 525 79,904 131,525 325,000 1,000,000 (09) 0.0% 161 6,047,793 1,100,000

BSS (12/04) Bangalore, India 103 13,629 23,629 90,000 500,000 (09) 0.0% 161 2,057,767 1,600,000

Grameen Koota (4/05) Bangalore, India 213 13,367 34,067 125,000 500,000 (09) 0.0% 161 3,188,745 1,100,000

Jamii Bora Trust (7/04) Nairobi, Kenya 230 42,780 112,780 200,000 500,000 (09) n/a 105 5,465,725 1,200,000

Pro Mujer Mexico (3/02) Tula, Mexico 67 12,920 12,920 16,500 16,500 (06) 1.0% 185 2,710,280 1,875,000

SKS (3/03) Hyderabad, India 273 141,202 151,202 275,000 425,000 (09) 2.0% $ 233 15,430,182 4,675,000

TOTAL 1,844 317,553 545,874 1,156,500 3,441,500 $ 39,440,715 $ 12,650,000

* Unitus manages its MFI partners’ client growth projections to their fi scal year (FY). India’s FY ends in March, thus all India MFI partner growth projections for FY 06 are through March 31, 2007.

Debt, Grants or Equity Board Representation/Governance Human Resources Management Information Systems Strategic/Financial Planning Transformation Strategy

PROJECTION

To read more about our MFI partner portfolio, visit: unitus.com/portfolio

3.4 million +

** Compiled from peer group (MFIs starting any given year with <100,000 clients) who reported to the Microcredit Summit Campaign for at least two consecutive years. 2005 estimate based on growth in prior years.

40,000

30,000

20,000

10,000

02003 2004 2005

Unitus Portfolio: Average Number of Clients Added per MFI

Microfi nance Industry**: Average Number of Clients Added per MFI

UNITUS MFI PARTNERSGROW 8x FASTER THAN THE INDUSTRY

REDUCING POVERTY WITH MICROFINANCE

History: Microfi nance emerged in the 1970s as social innovators began offering fi nancial services to the working poor – those who were previously considered “un-bankable” because of their lack of collateral. Since then, microfi nance has become one of the most sustainable and effective tools in the fi ght against global poverty.

How microfi nance works: The most common microfi nance product is a microcredit loan – usually less than $100. These tiny loans are enough for hardworking micro-entrepreneurs to start or expand small businesses such as weaving baskets, raising chickens or buying wholesale produce to sell in a market. Income from these businesses provides better food, housing, health care and education for entire families. Most important, additional income provides hope for a better future.

The global repayment rate for microcredit loans is higher than 95 percent, allowing microfi nance institutions (MFIs) to re-lend these funds to even more clients.

The poor, like all of us, also need a secure place to save their money and access to insurance for their homes, businesses and health. MFIs are now innovating to help meet these needs, empowering the world’s poor to improve their own lives.

By giving the working poor a hand up, not a handout, microfi nance can help break the cycle of poverty in a single generation.

INNOVATIVE SOLUTION: Microfinance

• Almost 30,000 children under the age of fi ve die every day from malnutrition and preventable disease. That’s one kindergarten class every minute.

• Approximately 790 million people in the developing world are chronically undernourished. That’s the equivalent of every single person in both North and South America going hungry every day.

• Nearly a billion people entered the 21st century unable to read a book or sign their names.

The statistics are alarming:

GLOBAL PROBLEM: Poverty“Almost half the world’s population [three billion people] lives on less than two dollars per day, yet even this statistic fails to capture the humiliation, powerlessness and brutal hardship that is the daily lot of the world’s poor.” - Kofi Annan, UN Secretary-General

$3 - $9

$0 - $2

Per capita income (adjusted for purchasing power parity), CIA World Fact Book, 2003-2005

$50 +

$30 - $49

$10 - $29

3 BILLION PEOPLE LIVE ONLESS THAN $2 PER DAY

The microfi nance industry is currently serving more than 92 million clients. However, even after 30 years of industry effort, 80 percent of the working poor are still without access to microfi nance services. At current growth rates, this gap will not be closed for decades.

Why? We believe the gap isn’t closing because the traditional MFI business model constrains growth.

Even though the industry has demonstrated that MFIs can be self-sustaining businesses, most still rely on a limited pool of donor dollars to fi nance their operations. To scale rapidly, MFIs must access large amounts of capital to expand their operations and provide loans and other fi nancial products to dramatically more clients. These large amounts of capital are accessible only through the formal capital markets, and currently most MFIs have neither the track record nor the clearly articulated business plan to attract this funding.

INDUSTRY PROBLEM: Supply Not Meeting Demand

To read more about poverty and microfi nance, visit: unitus.com/poverty

DEMAND

2003 2004 2005 2006 2007 2008 2009 2010

600

500

400

300

200

100

0

80% (400+million) unserved72% (395+million) unserved

Population in need of microfi nance services*Population with access to microfi nance services**

MIC

RO

FIN

ANCE

SU

PPLY

AN

D D

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D(I

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ON

S)

Based on CGAP data and population growth rates from the UN Population DivisionCurrent and forecasted numbers based on Microcredit Summit Campaign data, 2005

***

SUPPLY

MICROFINANCE INDUSTRY FAILING TO CLOSE THE GAP

To read more about our strategy, visit: unitus.com/strategy

Similar to investment banks and venture capital fi rms, we work with each MFI partner to customize a fi nancing package that combines linkages to local and international banks with Unitus debt, equity and grants. Each unique fi nancing package helps our MFI partners accelerate their growth while building sustainable capital structures.

Our capacity-building consulting services help establish the systems and infrastructure necessary for our MFI partners to manage their accelerated growth. Like a strategy consulting fi rm, we directly target the key areas that constrain growth. Our services include assistance with strategic planning, management information systems, fi nancial management, human resources, governance, and transformation into regulated fi nancial institutions.

Like a traditional venture capital fi rm, Unitus has a rigorous selection process. Our strategy focuses on selecting the highest-potential emerging MFIs that have the vision to scale rapidly and the foundation to improve their services and outreach. In the last two years, we assessed 206 MFIs and selected only fi ve for formal partnership.

This rigorous process helps us select the best and ensures that our donors’ dollars make the largest impact possible on global poverty.

SELECT INVEST AND CONSULT

Left to right: Geoff Davis (Unitus President and CEO), Sandeep Farias (Unitus VP and India Country Director) and Senthil Nathan (ASA-GV Operations Manager) review fi nancial records at an ASA-GV meeting in Trichy, India.

OUR STRATEGY – SOCIAL VENTURE CAPITALISM

T h e Un i t u s A c c e l e ra t i o n M o d e l

Unitus is a hybrid organization: part venture capital fi rm, part strategy consulting fi rm and part investment bank. The Unitus Acceleration Model combines best practices from these industries to help create large-scale, poverty-focused and commercially sustainable microfi nance institutions (MFIs).

This model produces the accelerated growth that we believe sets us apart in the industry.

Once an MFI partner achieves scale and has the capacity and fi nancing to support their continued growth, we create a plan to exit the partnership and redeploy our resources to new partners.

EXIT

Left to right: Howard Brady (Unitus Director of Training), Dr. Ramesh Bellamkonda (BSS Founder and CEO) and France Barral (Technical Development Systems Senior Consultant) discuss management information systems in Bangalore, India.

Kylie Charlton (Unitus VP, MFI Services and Capital Markets) makes tortillas with Pro Mujer Mexico client.

Primarily donor-funded

Unsustainable business model

Capacity constraints limitgrowth potential

Serving <10,000 clients

Local and international investors supportsustainable capital structure

Profi table and growing rapidly

Best practices demonstrated by management team

100,000 to 1,000,000+ thriving micro-entrepreneurs

UNITUS ACCELERATION MODEL DELIVERS RESULTSUNITUS MFI PARTNERAVERAGE MFI

BANDHAN, INDIA – MFI PARTNER CASE STUDY

Background: Founded in 2000, Bandhan (meaning “togetherness”) is one of India’s fastest growing microfi nance institutions (MFIs). Bandhan provides fi nancial products such as microcredit loans and loan repayment insurance to more than 131,000 micro-entrepreneurs in West Bengal — one of India’s poorest states.

Selecting for Potential: Unitus partnered with Bandhan in April 2005, selecting them for their impressive track record, strong leadership, bold goals and highly standardized lending methodology. In 2005 alone, Bandhan grew by more than 99,000 clients, or 300 percent!

Planning for Success: As we do with all our MFI partners, Unitus worked with Bandhan’s senior management to evaluate the growing MFI’s needs and create a thorough capacity-building plan (highlights below).

Impact: The Bandhan-Unitus partnership aims to reach 1 million of West Bengal’s working poor by 2009.

2005

• Transformation strategy planning helped Bandhan prepare for its transition from a nonprofi t organization into a Non-Banking Finance Company (NBFC)

• Initial Microfi n software training helped Bandhan create a long-term fi nancial and operational plan

• Grants of more than $65,000 focused on human resources development

• Advanced Microfi n training expands Bandhan’s fi nancial and strategic planning capabilities

• $1 million debt facility and improved relationships with local capital markets help fi nance Bandhan’s increasing client base

• Implementation of transformation strategy helps Bandhan acquire an NBFC license and transform into a regulated for-profi t bank

• Unitus Equity Fund, L.P. evaluates equity investment in Bandhan

• External audit and work with international accounting agency helps Bandhan achieve best practices for fi nancial statements and transparency

2006 - 2008

2009

Bandhan reaches more than 1 million clients

BANDHAN AND UNITUS – WORKING TOGETHER TO EMPOWER 1 MILLION MICRO-ENTREPRENEURS

* Unitus manages its MFI partners’ client growth projections to their fi scal year (FY). India’s FY ends in March, thus all India MFI partner growth projections for FY 06 are through March 31, 2007.

900,000

800,000

700,000

600,000

500,000

400,000

300,000

200,000

100,000

(FY 09*)

32,228

131,525

325,000

1 MILLION

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PROJECTIONACTUAL

*

In 2005, Unitus set a goal to empower 10 million of India’s poorest families withaccess to microfi nance services by 2015.

Unitus in India

To read more about our impact, visit: unitus.com/impact

WHY INDIA? • Hundreds of millions of people in India live on less than $2 per day

• Favorable banking and regulatoryenvironments

• MFI penetration is less than 5 percent

• Huge informal economy favors microfi nance and micro-entrepreneurs

HOW? • Unitus opened the India Microfi nance Center

in Bangalore in July 2005

• Seven Bangalore-based employees by December 2005, growing to 13 in 2006

• Created alliance with ACCION International to leverage skills and resources in India

Unitus Co-founder and Board Chair Mike Murray with Bandhan Founder and Executive Director Chandra Shekhar Ghosh at a Unitus Leadership Summitin Malaysia.

Nepal

UNITUS MFI PARTNERS IN INDIA

NEW DELHI

HYDERABAD• SKS

BANGALORE• BSS• Grameen Koota

TRICHY• ASA-GV

KOLKATA• Bandhan

ArabianSea

Bay ofBengal

PakistanChina

• India Microfi nance Center

UNITUS FINANCIAL SUMMARY

$ $$

$

$

$

PRO

GR

AM E

XPENSE A

S %

OF TO

TAL EXPEN

S E* September 30, 2003 December 31, 2004 December 31, 2005

Assets 2,755,411 6,886,506 9,477,119Liabilities 135,516 436,357 593,534Net Assets 2,619,895 6,450,149 8,883,585

Revenue 1,559,870 6,156,567 5,269,111

Expenses: Program-Grants 88,383 599,645 365,908 Program-Services 448,835 773,837 1,608,277 Management and General 374,679 623,589 598,108 Fundraising 272,579 329,242 263,382

Total Expenses 1,184,476 2,326,313 2,835,675

Change in Net Assets 375,394 3,830,254 2,433,436

Unitus Cost per New Client Added 73.07 22.57 11.01

Breakdown of Expenses: Program (grants and services for our MFI partners) 45% 59% 70% Management and General 32% 27% 21% Fundraising 23% 14% 9%

$ $$

$

$

$

$ $$

$

$

$

Total Expenses Assets Program Expense as % of Total Expense

$10,000,000

$7,500,000

$5,000,000

$2,500,000

$0SEPTEMBER 30, 2003 DECEMBER 31, 2004* DECEMBER 31, 2005

59%

45%

IMPROVING EFFICIENCY AS WE GROW

AS

SETS

AN

D E

XPEN

SES

* Due to a change in fi scal year end, 2004 includes 15 months of data.

100% of your contribution goes directly to

our program work thanks to a committed

group of supporters covering our 2006

operating costs.

70%80%

70%

60%

50%

40%

30%

20%

10%

0%

For complete fi nancial information, visit: unitus.com/fi nancials

Mike Murray (short-sleeved blue shirt), Unitus Co-founder and Board Chair, attends microfi nance client training session with SKS clients and Partner Expedition members outsideHyderabad, India.

To read more about how to get involved, visit: unitus.com/getinvolved

Just as we help microfi nance institutions (MFIs) serve more clients, your involvement helps us serve more MFIs.Please get involved and join our efforts to fi ght global poverty.

GET INVOLVED

2003 2004 2005 2006*

Number of new clients our MFI partners added per $1,000 donation to Unitus. *2006 projection based on forecasted results.

200

180

160

140

120

100

80

60

40

20

0

INCREASING THE IMPACT OF DONOR SUPPORT

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Promote Our Work• Tell fi ve friends about the

problem of poverty, the solution of microfi nance and the impact of Unitus.

• Link to unitus.com from your blog or website.

Visit Our MFI Partners• The best way to understand how

microfi nance changes lives is to see it in action. Join us on a Unitus Partner Expedition to meet micro-entrepreneurs and learn fi rsthand how Unitus is making a difference and how your donation can help.

Contribute To Unitus• Fill out the Get Involved

envelope (at right).• Donate online.• Contact us at [email protected]

to learn more about customizing your fi nancial involvement.

GET INVOLVED

All contributions are tax-deductible to the extent allowed by law.

JOIN THE UNITUS LEADERSHIP CIRCLE

The Unitus Leadership Circle is a group of committed individuals who support us with an annual gift of $2,500 or more.

Leadership Circle members gain an in-depth understanding of our work by having direct access to our senior management via quarterly conference calls and detailed partner reports.

UNITUS LEADERSHIP

To read more about the Unitus leadership team, visit: unitus.com/leaders

BOARD OF DIRECTORS

Mike Murray | ChairRetired VP of HR and Administration, Microsoft

Elizabeth Funk | Vice ChairPresident and CEO, CML Global Capital

Clair Jenkins | Selection Committee ChairCo-founder, Alerton Technologies, Inc.

Dave Richards | Acceleration Committee ChairPrincipal Consultant, Fast Forward Consulting

Geoff Woolley | Capital Markets Committee ChairFounding Partner, Dominion VenturesExecutive Chairman, European Venture Partners

Lorene AreyPresident, The Clara Fund

Dr. Steven C. Funk Founder and Chairman, Grand Marais Investments Ltd.Founder and Chairman, Aspen Properties Ltd.

Bob Gay Retired Managing Director, Bain Capital

Joseph Grenny Co-founder and President, VitalSmarts

Dave McClureVP, Product Development, SimplyHired.com

Les MooreExecutive VP, Bain Capital

Tim Stay Co-founder and Chief Innovations Offi cer, Know More Media

Geoff DavisPresident and CEO

Chris Brookfi eldInvestment Director, Unitus Investment Management Company

Kylie CharltonVP, MFI Services and Capital Markets

Kate CochranVP, Finance and Operations

Sandeep FariasVP and India Country Director

Dawn McGeeGeneral CounselMFI Transformation Manager

David SchappellVP, Communications

MANAGEMENT

Unitus HeadquartersP.O. Box 626Redmond, WA 98073, USA425-881-2264 Tel 888-2UNITUS Toll-free425-881-2085 [email protected]

Unitus India Offi ceIndia Microfi nance Center64 - A, 5th Cross, Lavelle RoadBangalore, 560001, India91-80-4112-0008 Tel 91-80-4112-0009 [email protected]

www.unitus.com

UNITUS DONORS – 2005

To all of our supporters in 2005 -

Thank you for helping Unitus transform the lives of more than 545,000 families this year. Your generosity is the foundation for our success, and we look forward to partnering with you to do even more in 2006.

Geoff Davis, President and CEO

Unitus Leadership Circle

The Unitus Leadership Circle is a group of committed individuals who support us with an annual gift of $2,500 or more. Leadership Circle members gain an in-depth understanding of our work by having direct access to our senior management via quarterly conference calls and detailed partner reports.

Unitus Advisor Network

These supporters lend their expertise to help us expand our network and refi ne our business model. Advisors provide individual guidance to Unitus at least once a year and can be called upon quarterly.

Tilman Ehrbeck, McKinsey & Company

Chris Eyre, Legacy Venture

Jeremy Hartman, CXO Communication

Julie Herness, Clearwater Group

Anil Kumar, McKinsey & Company

Paul O’Beirne, Microsoft

Louis Pope, US Synthetic

William Reffett, Reffett Associates

Paul Saunders, WR Hambrecht

Paulette Subert, The Subert Group, Inc.

Tarek Toubale, Formerly Morgan Stanley

Warner Woodworth, Brigham Young University

In Kind

Crystal Springs Foundation

Shane Hagel, KG Financial Group

Latham & Watkins LLP

Orrick, Herrington & Sutcliffe LLP

PRWeb International, Inc.

“Unitus has shown me that they are serious about using capital to change lives. This is not just another “feel good” operation; Unitus has a sense of urgency and professionalism that I believe will help millions move themselves out of poverty.”

David Mann COO & CFO, Amaze Entertainment, Inc. Woodinville, WA

“When I donate, I want to know that my money is making an ongoing impact. Microfi nance solves that issue. The question is – to which microfi nance institution (MFI) should I donate, especially when thousands of MFIs have sprouted up? This is where Unitus steps in, doing the rigorous analysis to fi nd the diamonds in the rough.”

Alan TienChina Country Product Manager, PayPalShanghai, China

“What stands out about Unitus is that we are dramatically increasing access to microfi nance by directly accelerating the growth of microfi nance institutions. By introducing massive amounts of investment capital into the microfi nance industry, Unitus acts as a catalyst to increase the credibility, awareness and sustainability of the entire industry.”

Joseph Grenny President, VitalSmartsUnitus Board MemberProvo, UT



www.unitus.com

Doug Solomon on Unitus Partner Expedition in India(October 2005).

William M. Reffett

Stephen D. and Marianna E. Richardson*

Paul Robshaw and Linda Benge

Michael Ruge

Daniel Simmons

Patty and Dick Simon*

Carl and Nancy Trimble Family Foundation

Ona Westfall

$1,000 +Anonymous (6)

S.A. and E.K. Bleak

Craig A. Bruya

Gregory F. Casagrande

Jeff Chen

Kate and Jeff Cochran

Niki Curry

Enlightened Millionaires Training Corp.

The Redwoods Group, Inc.

The Marion D. and Maxine C. Hanks Foundation, Inc.

Mark Victor and Patricia Hansen

Kevin Hartz

The Herbold Foundation

Shannon and Dana Law

David Lazear Group

David and Meggin Mann*

Valerie Merrell

Multiple Streams of Income International, Inc.

Rod and Marie Murray

Richard B. Oliver

Greg and Candace Osborn

Michael Rabinoff

RealNetworks Foundation

Paul Saunders

Zig and Ashley Serafi n

Cindy Shurtleff

Alan Tien

Julie Todaro

Andrew and Emily Warden

Jhamandas Watumull Fund

Susan West

W. Brett Wilson*

Up to $1,000Anonymous (32)

Greg and Leslie Allen

Stephanie and David Allgood

Jason and Louise Alving

Scott and Nicole Anderson

Gloria Andrus

Kenneth Archer

Teresita Arechiga

Caryn Ashare-Norman in honor of Frank Buffone

Rie Bach

Elyssa Back

Matt Bannick

Rulon J. Barlow

Dee Bartholomew

Stephen and Marcia Bean

Paul and Glynn Bedington

Scott Smith and Renee Bell

Stephen and Valerie Bishopp

Bryan Bleak

Scott and Gayle Bleak

Sharon Brown

Gail Bullen

Roger and Megan Bulloch

Margaret W. Busse

Debra Campbell

Heather and Andy Cantrall

Deborah Carney in honor of Betsy Turner

Curt Carpenter

Mike Chen

Karen Cho

James R. Clark

Ryan Coisson

Jennifer Condren in honor of William Condren

Alex Corman and Charlotte Brownlee

Countrywide Home Loans, Inc.

Phyllis Culham and Robert Ertman

David Curtin

Robert Davidson in honor of John Davidson

Mitch and Michelle Davis

Keenan and Mesha Davis

Anthony DeToto

Norman Dillinger

Michael Drennan in honor of Joseph W. Drennan

Gary and Judy Dunham

Mary Anne Durham

Dynamic Events, Inc.

William and Zaini Awang Earley

David Adam Edelstein and Rebecca Kelley

Sher Emerick

Gary Fogg and Sharon Endow-Fogg

David Erickson

Alexander Farbstein in honor of Milton Farbstein

Kimberly Farner

Nancy Feinglass in honor of Frank Buffone

Kenneth Fortune

Steven Fox in honor of S. Ross Fox, Jr.

Brian Fulmer in honor of Rick Fulmer

Marilyn Gannon

“I want to see my contribution handled effi ciently so that I know that all of it is being put to good use. Unitus is, by far, the most professional and qualifi ed microfi nance organization operating today.” Victor MacFarlane Managing Partner, MacFarlane Partners San Francisco, CA

“Instead of giving a handout, Unitus empowers women to improve their lives and the lives of their children. By making microfi nance available to more people, Unitus is helping alleviate poverty in a sustainable way.” Julie Todaro Director of Finance, Amazon.com Seattle, WA

“When we can make a life-changing difference that affects generations to come with so little out of our own pockets, the choice is easy to make. My family members were thrilled to share in our spirit of giving, especially when we have so much.” (Kay O’Neill showing

her mother Jane O’Neill the Unitus 2004 Annual Report after giving a donation in her

name for a holiday gift.) Kay O’Neill Director of “Be the Change” Environmental Leadership Program, Acterra Menlo Park, CA

Praerit, Kavita and Zoya Garg

Conrad and Jody Gehrmann

Brian Gessel

Joseph Gigliotti

Shalu Goel

David Greenberg

Scott Grill

Gary Guertler

James and Connie Gustafson

Justin Hague

Russ and Debbie Hall

Cathy Haney

Beth Herz in honor of Frank Buffone

Lauren Hightower in honor of S.J. Hightower

Vincent Houmes

Vivian Houng and Don Bogan

Michael Hutchinson

Charles Jagoda

James Family Foundation

Bradley Jensen in honor of Rob Ely and Nicole Sundquist

David John

David and Stephanie Johnson

Timothy Johnston

Marilyn Johnstone

Jason Kap

Davee Kaplan

Steven Ketchpel

Helen Knapp in honor of Wesley Sawyer

Vasantha Kostojohn

Diane Koyler in honor of Frank Buffone

Mark Krauth

Allan and Kirstin Kreiger

Lake Partners Strategy Consultants, Inc.

Christopher Langtiw

Dave LeFevre

Mary Lenahan

Huat Chye Lim and Michael Sha

Kent I. Madsen

Neil Margolin in honor of Frank Buffone

Patrick and Claudia McClain

Rory McKenna

Patricia McKracken

Sara Mirabito

Sophie Mitkevitch and Fabrice Herpain

Theresa Monica in honor of Sharmon and Bella Provan

Ramona Monroe in honor of Norma Monroe

Dwight and Marilynn Monson

Brian and LeAnn Morgan

Timothy M. Mulligan

Julianne Murray in honor of Mike Murray

Victoria Nethery in honor of Kati and Bob Gardner

Alynn Nguyen

John and Kari Novatney

Andrew Oberhardt

Kay O’Neill and Peter Sharer in honor of Karen and David Baud, Sara and Chip Sharer-Meneley, Gene and Jane O’Neill, Mary O’Neill, Dave and Jean Sharer, Kirsten Sharer, and Claire and Harn Soper

Susan Osborn in honor of Daniel and Sannie Osborn

Dan Peay

Patricia Petersen

Bryce Peterson

Peter Petesch

Ainsley Jo Phillips

Karen and Gary Pippin in honor of Joyce Murray

Rikki Plante

Gregory Poulos

Reed Probst

Ashif Rashid

Archana Ravichandran

Stephanie Rayner

Rescue a Million

Melissa Resnick in honor of Frank Buffone

Lisa Rhorer in honor of Jeff Shardell

Timothy Robertson in honor of Martha Robertson

Geoffrey Rockhill

Matthew Romney

Dolores Rosario

Lynn Rose

Ilene Rosenthal in honor of Frank Buffone

Richard Rusick

Sucheta Sachdev

Evelyn and Jonathan Sacks in honor of Frank Buffone

Lena Salonikas

Dianne Sawyer in honor of Carol Ann Wheeler

David Schappell and Karen Janosky

Kavita and Anurag Sharma

Jean Sibley

Prakash Sikchi

Jeromy Slater

Trent Slatton in honor of Anne Davis and Bill Slatton

Kelly Sorensen and Apryl Martin

Jodee and Anthony Sorrentino

Patricia Starr

Bernard Steben

Stellent, Inc.

Michael and Cynthia Stipech

Randy Stolworthy in honor of Sandra Baldwin, George Brimhall, Bill Dyer, Jerry Hirsch, Bill Levine, Dan Mercer, Darrell Paxman, Bob Pope, Maury Tanner and John White

Tom Stout

Thomas Sweeney

Thomas Taylor

Roshan V. Thomas

Hiroko Tomita

John M. Torrens III

Peter Trachtenburg

Stephanie Turner in honor of Betsy Turner

Betsy Turner in honor of Deborah Carney, Cynthia Latham, Fernanda Litt, Shelley Schlender, Chase Turner, Stephanie Turner, and in memory of Clyde and Flora Dillon

Hal Urban

Lucretia Vanderwende

Jake Varghese

Lawrence Walters in honor of Steven Walters

Dennis Scott and Carol Ward

Kim Whatcott

Brian and Wendy Wilcox

Byron T. Willhoite

Joshua and Melanie Williams

Victor Witzke in memory of Erna Seib

Kyle Young

* Denotes Leadership Circle membership for two or more years

“With its focus on accelerating profi table growth and fi nancial transparency among microfi nance institutions, Unitus represents exactly the kind of organization Omidyar Network is eager to invest in.”

Iqbal ParooPresident and COO, Omidyar Network Redwood City, CA

Lorene Arey (President of The Clara Fund), and son Hunter with Pro Mujer Mexico client during a Unitus Partner Expedition(April 2005).

MFI LOAN SUPPORTERSThe Clara Fund

Peery Foundation

Shadow Lake Children’s Fund at the Boston Foundation*

DONORS$1 Million +Crystal Springs Foundation*

Victor MacFarlane

Omidyar Network

$100,000 +Anonymous

Shadow Lake Children’s Fund at the Boston Foundation*

Richard M. & Susan Jacobsen Charitable Fund*

$25,000 +Biel Fund

The Church of Jesus Christ ofLatter-day Saints Foundation

Joseph and Celia Grenny*

Jeld-Wen Foundation

Clair and Nancy Jenkins*

Gary and Judi Lee

Richard E. and Nancy P. MarriottFoundation

Microsoft

Mark and Jacqueline Palmer Gift Fund

$10,000 +Danny and Michelle Ainge

The Clara Fund*

The Conway Family Foundation

Elizabeth and Steven Funk*

The Impart Group*

Kent and Janalee Leavitt

Dave and Saya McClure


Louis and Christine Pope*

Kyle and Brenda Powell*

David and Valerie Robinson*

Forever Young Foundation

Dr. Seth Thaler*

VitalSmarts

$5,000 +Brian Arbogast and Valerie Tarico

Gilman Family Foundation*

Curtis and Mary Asplund*

Zeke and Angela Dumke

William and Karen Early*

Paul and Sandy Edgerley Charitable Trust Fund

Guerrant Foundation Fund

Jeff and Renee Harbers

Rodney and Beverly Hawes

Robert Heddle*

Richard and Brandy McAniff

David McInnis

Carl B. Page

Paul Zane Pilzer

Gerry and Jane Pittenger*

Cummins Northwest, Inc.*

Carolyn and Stephen Reidy*

The Richards Family*

Bill and Karen Sample*

Frank and Anne Sixt*

Rogers and Julie Weed

Richard and Nancy Wendt

$2,500 +Anonymous (2)*

Aspen Properties

ATS Automation*

Herb and Shirley Bridge

Sean Campbell

Rich Christiansen and Tim Stay

Stanley Clark

Roger and Kimberly Collins

Lindley Conrad

Davidson Family Fund

Suzanne Ginger and Michael Evans

Cesar Gomez

Nan Guslander

Blake Hutcheson*

Bruce and Gretchen Jacobsen

Mick Jolly

Stacey Keare and John Hodge

Alan and Leslie Layton*

Paul and Teresita O’Beirne*

Tom and LaDawn Painter*

Barbara Patz

Melanie Perry

UNITUS DONORS – 2005

To all of our supporters in 2005 -

Thank you for helping Unitus transform the lives of more than 545,000 families this year. Your generosity is the foundation for our success, and we look forward to partnering with you to do even more in 2006.

Geoff Davis, President and CEO

Unitus Leadership Circle

The Unitus Leadership Circle is a group of committed individuals who support us with an annual gift of $2,500 or more. Leadership Circle members gain an in-depth understanding of our work by having direct access to our senior management via quarterly conference calls and detailed partner reports.

Unitus Advisor Network

These supporters lend their expertise to help us expand our network and refi ne our business model. Advisors provide individual guidance to Unitus at least once a year and can be called upon quarterly.

Tilman Ehrbeck, McKinsey & Company

Chris Eyre, Legacy Venture

Jeremy Hartman, CXO Communication

Julie Herness, Clearwater Group

Anil Kumar, McKinsey & Company

Paul O’Beirne, Microsoft

Louis Pope, US Synthetic

William Reffett, Reffett Associates

Paul Saunders, WR Hambrecht

Paulette Subert, The Subert Group, Inc.

Tarek Toubale, Formerly Morgan Stanley

Warner Woodworth, Brigham Young University

In Kind

Crystal Springs Foundation

Shane Hagel, KG Financial Group

Latham & Watkins LLP

Orrick, Herrington & Sutcliffe LLP


“Unitus has shown me that they are serious about using capital to change lives. This is not just another “feel good” operation; Unitus has a sense of urgency and professionalism that I believe will help millions move themselves out of poverty.”

David Mann COO & CFO, Amaze Entertainment, Inc. Woodinville, WA

“When I donate, I want to know that my money is making an ongoing impact. Microfi nance solves that issue. The question is – to which microfi nance institution (MFI) should I donate, especially when thousands of MFIs have sprouted up? This is where Unitus steps in, doing the rigorous analysis to fi nd the diamonds in the rough.”

Alan TienChina Country Product Manager, PayPalShanghai, China

“What stands out about Unitus is that we are dramatically increasing access to microfi nance by directly accelerating the growth of microfi nance institutions. By introducing massive amounts of investment capital into the microfi nance industry, Unitus acts as a catalyst to increase the credibility, awareness and sustainability of the entire industry.”

Joseph Grenny President, VitalSmartsUnitus Board MemberProvo, UT



www.unitus.com

Doug Solomon on Unitus Partner Expedition in India(October 2005).

innovative solutions to global poverty · highlights from 2005 • helped mfi partners add 296,000...

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