Once again, we are happy to have good news to share. It is a pleasure to report on a successful year of creating business solutions to poverty.
We are grateful to our worldwide MEDA team, who are committed and have worked so hard to ensure that we met and even exceeded our FY17 goals.
MEDA’s positive impact continues to expand. This year with your generous support we were able to help 91 million families in 60 countries through our work with 322 partners. In addition to the 615,000 lead firms, farmers and entrepreneurs served by our projects, small and medium enterprises where MEDA has an investment served 90.6 million customers.
The center spread of this annual report illustrates four particular projects and the way in which we quickly multiply the impact when we scale up our work and maximize the power of our investments.
We are exceedingly grateful for our philanthropic MEDA supporters, whose generosity resulted in a record high $6.5 million in private contributions.
We are particularly gratified as we embark on a large, five-year campaign to raise $50 million to support our mission of creating business solutions to poverty. Funding from institutional donors multiplied the impact of your gifts, for a total budget of $27.2 million.
With our customary stewardship and judicious use of these gifts, we realized a healthy $948,000 operating surplus, in addition to a $1.67 million equity gain in our Sarona Risk Capital Fund, where it will be invested again and again.
MEDA continues to work toward a more just and peaceful existence by building bridges. The bridges we build are the ties between people and communities, partnering and collaborating to strengthen local organizations, businesses, entrepreneurs and their families – bridges that increase understanding and strengthen our relationships. We do this by improving lives and livelihoods, because enduring livelihoods are vital to long-term peace and economic growth.
We are grateful for the very committed staff and the continued trust and faithful generosity of our loyal supporters in the sharing of your gifts of time, talent and financial support.
Thank you for your steadfast commitment, for walking alongside us, and with people living in poverty, to build bridges to enduring livelihoods.
Allan Sauder, President
Albert Friesen, Chair