MEDA Annual Report - 2016

MEDA Annual Report - 2016

Executive view

New strategic directions cap exciting year of growth. Doubling down on business with B2 will help MEDA continue to unleash people’s God-given potential.

We are delighted to report on excellent FY16 results after a challenging year in FY15.

MEDA was able to generate a positive bottom line this year. This is thanks in no small part to our generous individual MEDA supporters, plus the determination and hard work of our staff and board of directors, and the trust of our institutional donors.

With the development of our new strategic directions, summed up as Business to the Power of Two, we are confident that we are well-positioned to meet the needs of a changing world.

While our focus on sustainable livelihoods remains the same, the way we create sustainable livelihoods must change, too.

We aim to keep vulnerable poor families – especially in rural, agricultural areas – at the heart of our efforts. Livelihoods will be sustained by profitable business entities at a minimum of two market levels within a stronger ecosystem of entrepreneurship.

Our Mennonite values will continue to form the core of who we are and how we approach our work.

FY16 was a year of recovery and a move back into the black with a strong pipeline of contracts and projects and inspiring support from individual MEDA donors.

We helped 46 million families in 62 countries realize healthier, more economically sustainable lives. Working through 246 partners, we reached:

  • 45.7 million clients of microfinance institutions and enterprises where MEDA has invested;
  • and 149,000 farmers and entrepreneurs, with training, financial services and market access.

And that’s in addition to the clients of organizations we worked with in the past who continue to serve thousands of entrepreneurs long after MEDA is no longer directly involved.

This success was only possible through your gifts! We leveraged your $6.3 million in private contributions with government and foundation funding for a total budget of $22 million.

We invested Sarona Risk Capital Fund assets of $20 million ($8.2 million equity) in funds and companies, for total assets under management of $607 million – up 15% from last year.

We are pleased that this year we netted a surplus of $661,740 from an operating surplus of $848,118 and a loss of $186,377 in our Sarona Risk Capital Fund equity. Once again, the Sarona Risk Capital Fund loss is primarily due to global currency declines relative to the U.S. dollar.

Thank you once again for your faith in us, for your commitment to our mission of creating business solutions to poverty, and your support to help millions of families adapt to a changing world.

Allan Sauder, President
Albert Friesen, Chair

MEDA Annual Report - 2015

MEDA Annual Report - 2015

Executive view

Why leveraging for impact?
The business answer is that leveraging is simply good stewardship of resources.

We are leveraging by engaging funding and implementation partners in our work around the world. Leveraging is not simply for the sake of growth, but to achieve the greatest impact for the maximum number of families. Through leveraging, we are able to help more families realize their God-given potential.

Fiscal year 2015 was a challenging year for MEDA in comparison to the past decade, when we enjoyed strong growth and positive bottom lines on our financials. A number of factors combined to create a perfect storm:

  • A drop in major gifts;
  • The end of several major contracts and slow start-up of new projects; and,
  • Global currency declines that contributed to a loss in our investments;

Fortunately, we have the unwavering strong support of a Board of Directors with experienced business people who have weathered similar storms in their own enterprises. They are a beacon of support, giving generously of their time and wisdom. And we are so grateful that we have subsequently signed a significant number of new projects that will ensure our future growth.

This year we helped 36.5 million families in 52 countries realize healthier, more economically sustainable lives. Working through 233 partners, we reached:

  • 36 million clients of microfinance institutions and small and medium enterprises where MEDA has invested through a Sarona fund;
  • and nearly 66,000 farmers and entrepreneurs who received training, financial services and/or access to markets.

And that’s in addition to the clients of organizations we worked with in the past who continue to serve thousands of entrepreneurs long after MEDA is no longer directly involved.

Your contributions made this possible! We multiplied your $4.4 million in private contributions with government and foundation funding to achieve a total budget of $18.3 million.

We invested Sarona Risk Capital Fund assets of $18.5 million ($8.4 million equity) in funds and companies, for total assets under management of $550 million – up 18% from last year.

We are disappointed in this year’s overall loss of $1.9 million, arising from an operating loss of $1.1 million and a loss of $867,000 in our Sarona Risk Capital Fund equity. The Sarona Risk Capital loss is primarily due to global currency declines and a few investments that did not perform as expected.

We’re thankful for our supporters, our board, and our wonderful staff who work so hard and share so generously to keep MEDA at the leading edge of leveraging for impact. We invite you to join in this work.

Allan Sauder, President
Albert Friesen, Chair


 

MEDA Annual Report - 2014

MEDA Annual Report - 2014

Executive View

Throughout this report you’ll learn how MEDA’s frontier investing and programs are helping poor families unleash their entrepreneurial spirit and skills to build sustainable livelihoods – creating business solutions to poverty.

If you visited these people, you’d hear stories of how their increased income has impacted their families, their communities, and their dreams for the future – stories of better health and nutrition … of children now able to attend university … of small businesses able to employ many more in the community … and of their ability to care for the needy in their midst. It’s truly a gift to be able to share God’s love in this way!

On Wall Street and Bay Street, frontier investing has been heralded as a new answer to poverty.

But the idea that investing capital in small and medium companies in frontier markets can be both financially rewarding for investors and good economic development for their customers, staff and communities is not new. MEDA has been doing this for 61 years.

However, creating ways to do this on a scale attractive to investors large and small – that is the new frontier – the space where MEDA and our Sarona funds are truly at the leading edge.

This year we helped 46.4 million families in 62 countries realize healthier, more economically sustainable lives. Working through 248 partners, we reached:

  • 44 million clients of microfinance institutions and small and medium enterprises where MEDA has invested through a Sarona fund;
  • 2 million families who received mosquito nets in Tanzania;
  • and nearly half a million farmers and entrepreneurs who received training, financial services and/or access to markets.

And that’s in addition to the clients of organizations we worked with in the past who continue to serve thousands of entrepreneurs long after MEDA is no longer directly involved.

Your contributions made this possible! We multiplied your $6 million in private contributions with government and foundation funding to achieve a total budget of nearly $42 million.

We invested Sarona Risk Capital Fund assets of $20 million ($9.3 million equity) in funds and companies, for total assets under management of $410 million – up 21% from last year largely due to substantial growth in MicroVest and the Sarona Frontier Markets Fund 2 LP.

We were grateful to realize a net surplus of $930,000 from an operating surplus of $980,000 and a slight loss in our Sarona Risk Capital Fund equity due to the write-down of assets in Ukraine following the political challenges there.

We’re thankful for our supporters, our board, and our wonderful staff who work so hard and share so generously to keep MEDA at the leading edge. We invite you to join in this work.

Debbie Sauder David, Chair
Allan Sauder, President



 

MEDA Annual Report - 2013

MEDA Annual Report - 2013

Executive View

For 60 years, MEDA has been cultivating solutions – business solutions to poverty – and it has been our privilege to witness a harvest of hope.

Every time we visit women, men and youth who, with the help of a MEDA program, have unleashed their own entrepreneurship and skills to create sustainable livelihoods, we hear the same stories. With shining eyes, our clients tell us of the immediate and dramatic impact their increased income has had for their families and communities, and their dreams for the future. We hear stories of better health and nutrition, of children who are now able to attend university, of small businesses that are able to employ many others from the community, and of their ability to now care for the needy in their own midst. It is truly a gift to be able to share God’s love in this way.

In Nicaragua and Peru, through an innovative program supported by the Canadian government, MEDA is providing 20 entrepreneurial small companies with matching grants to help farmers gain access to new markets and/or technologies that improve their productivity. These companies offer export markets for dried fruits, chili peppers and organic coffee, and provide improved cultivars of plantains, drip irrigation systems, biodigesters and a host of other services needed by farmers. And it is clear that these entrepreneurs, selected on the strength of their business plans, are creating businesses that truly bring a harvest of hope to small farmers.

This year we were able to help more than 42 million families realize healthier, more economically sustainable lives. Working through 223 partners in 49 countries we reached some 38 million clients served by microfinance institutions and small and medium enterprises where MEDA has an investment through one of the Sarona funds; 1.7 million families who received mosquito nets in Tanzania; and 3.1 million farmers and entrepreneurs who received training, financial services and/or access to markets provided by MEDA and our partners. These numbers do not count clients of organizations we worked with in the past who continue to serve thousands of entrepreneurs long after MEDA is no longer directly involved.

Your contributions made this possible! We multiplied your $6 million in private contributions – up 20% from last year – with government and foundation funding to achieve a total budget of nearly $41 million.

Assets in the Sarona Risk Capital Fund increased 10% to $20 million, while total assets under management grew dramatically to $340 million, due in large part to substantial growth in MicroVest and the $85 million first close of the Sarona Frontier Markets Fund 2 LP.

We were grateful to see a net surplus of $2.8 million, resulting from an operating surplus of $802,000 and a $2.0 million increase in the equity of our Sarona Risk Capital Fund. Most of these funds will be reinvested again and again in businesses that serve the poor.

We are immensely grateful to our supporters, our board, and our wonderful staff who generously share their time to cultivate solutions to poverty. We invite you to join in this work, and to experience the harvest of hope.

Allan Sauder, President
Debbie Sauder David,
Chair


 

MEDA Annual Report - 2012

MEDA Annual Report - 2012

Executive View

At MEDA, we believe that when we take a shared risk with the poor we will see cascading returns of many kinds. Our commitment to creating business solutions to poverty for the poorest of the economically active most often results in immediate and dramatic impact for those families and their communities. While the poor are not immune to global economic pressures, unleashing their own entrepreneurship and skills is the best way to create sustainable livelihoods, which in turn gives families the vision and options to make a better life for themselves, fosters more stable communities, and engenders a new hope that is spiritual in essence.

In Afghanistan, one of our clients is a woman named Shareefa who received a $125 loan from our local partner there. She was able to invest this in her kitchen garden where she applied improved production methods, which she learned from another MEDA project, to increase her yields. "With the help of this loan," she says, "I became a good leader and gained respect from the villagers – both men and women." Creating a leader for $125, funds that will be used over and over again in the program, is a risk with truly cascading returns!

Reflecting our faith values, our work with Shareefa and millions of other families around the world not only demonstrates practical and creative business solutions but also builds long‑term relationships that promote trust and peace and opens doors for God to create hope.

This year we were able to help more than 18 million families realize healthier, more economically sustainable lives. Working through 227 partners in 56 countries we reached over 14 million clients served by microfinance institutions and small and medium enterprises where MEDA has an investment through one of the Sarona funds; 1.1 million families who received mosquito nets in Tanzania; and 2.9 million farmers and entrepreneurs who received training, financial services and/or access to markets provided by MEDA and our partners. These numbers do not count clients of organizations we worked with in the past who continue to serve thousands of entrepreneurs long after MEDA is no longer directly involved.

Your contributions made this possible! We multiplied your $5 million in private contributions – up 65% from last year – with government and foundation funding to achieve a total budget of nearly $33 million.

Assets in the Sarona Risk Capital Fund increased 16% to $20 million. While total assets under management increased slightly to $180 million, several new investment opportunities point toward considerable growth in the future.

We were grateful to see a net surplus of $2.0 million, resulting from an operating surplus of $530,000 and a $1.5 million increase in the equity of our Sarona Risk Capital Fund. Most of these funds will be reinvested again and again in businesses that serve the poor.

We are immensely grateful to our supporters, our board, and our wonderful staff who generously share their time, skills and resources, and take risks that create cascading returns. We invite you to join in this work.

Allan Sauder, President
Debbie Sauder David,
Chair


 

MEDA Annual Report - 2011

MEDA Annual Report - 2011

Executive View

At the 2011 World Economic Forum in Davos, Switzerland income inequality and corruption were singled out as the two most serious challenges facing the world. And at an OECD policy forum, Richard Freeman, professor of economics at Harvard University, said "the triumph of globalization and market capitalism has improved living standards for billions while concentrating billions among the few. It has lowered inequality worldwide but raised inequality within most countries."1

Nearly 60 years after MEDA first invested to create new economic hope for desperately poor farmers in Paraguay, our mission is even more relevant. Today, as then, we remain committed to creating business solutions to poverty for the poorest of the economically active. While economic growth has raised living standards for many millions in low income countries, there is an ongoing and growing need for the poorest to unleash their entrepreneurship and create sustainable livelihoods for their families.

Our Enduring Values continue to create Lasting Impact. Reflecting our faith values, we endeavor to be honest in all that we do; to build relationships that promote trust and peace; and to demonstrate practical and creative business solutions, where we share with the poor in the risk that these entail for them. We believe partnering and investing with local business structures is the most efficient way to help the poor gain access to the capital, markets and training they need. We leave behind profitable businesses or institutions that continue MEDA's work long‑term. And, we believe collaboration with others in this work is vital to ensuring good stewardship of God's resources.

We believe we have succeeded when our work is sustainable, measureable, scalable and replicable. How have we done?

This year we were able to help a record 20.2 million families realize healthier, more economically sustainable lives. Working through 150 partners in 60 countries we reached:

  • 12.2 million rural homes in Tanzania with mosquito nets; every 1,000 nets in use saves 5.5 lives, which equals over 67,000 lives saved;
  • 6.5 million households through microfinance institutions and small companies where MEDA has invested Sarona funds;
  • 1.5 million farmers and entrepreneurs who are earning better incomes (often double or triple) through training, financial services and access to markets.

These numbers do not count clients of organizations we worked with in the past who continue to serve thousands of entrepreneurs long after MEDA is no longer directly involved.

Your contributions made this possible! We multiplied your $3 million in private contributions through government and foundation funding to achieve a total budget of nearly $47 million, up 42% from last year.

Assets in the Sarona Risk Capital Fund increased 6% to $16 million, private direct investment in MEDA programs increased 33% to $41 million, and assets under management rose 9% to $178 million.

We were grateful to see a net surplus of $928,000, resulting from an operating surplus of $1.1 million and a net loss of $153,000 in the value of our Sarona Risk Capital Fund.

We are particularly pleased when clients and partners tell us that their financial and health improvements were only a part of the story. In Haiti, we heard dozens of women talk about how they had been helped by MEDA's partner, Fonkoze, and how they felt truly cared for and respected. Fonkoze said this was also what they felt from MEDA staff and that is why they appreciate so much our long‑term relationship.

We are immensely grateful to our supporters and our board who generously share their time, skills and resources to help build enduring values, lasting impact and open doors for God to create hope. We invite you to join in this work.

Allan Sauder, President
Allon Lefever,
Chair

1 As reported by the Conference Board of Canada at http://www.conferenceboard.ca/hcp/hot-topics/worldinequality.aspx


 

MEDA Annual Report - 2010

MEDA Annual Report - 2010

Executive View

In the past year we witnessed a halting and fragile recovery from the global recession, plagued by persistently high levels of unemployment, weak investment opportunities and mounting budget deficits that will haunt us for years to come. Earthquakes, drought, flooding and wildfires captured headlines from Haiti, China, Pakistan, Russia and many other countries, creating untold hardship for millions of people caught in the wake. Escalating warfare and insecurity in Afghanistan, Pakistan and a host of other
countries threatened the well-being and livelihoods of millions of poor families and diminished prospects for peaceful solutions. And, the threat of global pandemics again reared its head this year, reminding us that disease is not confined by political boundaries.

In the midst of so much depressing news, wherein does our hope lie? At MEDA we have the daily privilege of witnessing the incredible resilience of the human spirit – watching as resource‑poor families around the world respond with creativity, entrepreneurship and unflagging efforts to build their lives and create hope for their families in the midst of destruction and insecurity. We see millions of families who, with a hand from MEDA, are able to unleash their own entrepreneurship to build a better future. We believe that unleashing entrepreneurship is our God‑given mandate, and a proven strategy for creating sustainable livelihoods. Since 1953, MEDA has created business solutions to poverty, building on the entrepreneurship of our 101 partners and 9.4 million clients around the world. Today, our work is needed more than ever. Do we have the creative, scalable and replicable business solutions needed to help increasing numbers of the world's poor find roads out of poverty? Our funding partners clearly believe that we do. Over the past three years, with the help of funding contracts negotiated with
governments and foundations, our total development budgets have more than doubled, and our client reach has more than quadrupled.

We were delighted that, despite ongoing economic uncertainty, 2010 was a year of continued growth for MEDA. Contributions from our generous private supporters increased 36% to $3.3 million, multiplied by government contracts and other funding by a factor of 10 times, for total revenue of $32.8 million, up 31% from last year.

Our newly opened European office accounted for nearly 7% of contributions. In June the MEDA board of directors was privileged to be hosted in Germany by Horsch Machinery and director Michael Horsch – following our triennial international board meetings, held this year in Ukraine where the board witnessed entrepreneurship alive and well in this former Soviet state.

The board also approved MEDA's next three‑year strategy (outlined in the center‑spread of this report) and a major organizational restructuring that will position MEDA for global leadership in each of its strategic directions. As part of the reorganization, MEDA's impact investment mandate is now managed by its wholly‑owned subsidiary, Sarona Asset Management Inc. Assets in the Sarona Risk Capital Fund increased 30% to $14.8 million, private direct investment in MEDA programs increased 58% to $30 million, and assets under management increased 25% to $219 million.

Our net surplus of $1.1 million resulted from a $1.29 million appreciation in the value of our Sarona Risk Capital Fund investments and a $197,000 operating deficit. Most of these funds will be reinvested again and again in businesses that serve the poor.

And finally, at a time when many of our 313 staff members face insecurity and other risks on a daily basis, we have worked intentionally with our security consultant to improve security training and other protective measures. However, we covet your prayers for their safety.

We are immensely grateful to our supporters and our board who generously share their time, skills and resources to help MEDA unleash entrepreneurship. We invite you to join in this work.

Allan Sauder, President
Allon Lefever,
Chair


 

MEDA Annual Report - 2009

MEDA Annual Report - 2009

Executive View

In a year when depressing economic news was more than mere statistics, too often translating into job losses, reductions in charitable giving and altered dreams of retirement, many of us tightened our belts and watched for signs of recovery. However, as the global recession deepened, we began to realize that we were seeing a new global reality: new economic and environmental frontiers that require new solutions.

Although some developing countries still forecast growth rates above those of the higher income countries, vanishing capital inflows, weak export earnings from commodities and reduced remittances from export workers are increasingly likely to reverse a decade of growth that has lifted millions out of poverty in poor countries. Martin Ravallion of the World Bank predicted that 65 million people will slip back below the $2 a day poverty line this year, and 53 million will fall below the $1.25 a day absolute poverty line (The Economist, Mar. 12, 2009). The consequences may be that as many as 400,000 more children will die annually between now and 2015.

At MEDA we believe that investing in the poor is our God-given mandate, and a proven strategy for creating sustainable livelihoods. Since 1953, MEDA has created business solutions to poverty. Today, our work is needed more than ever. Do we have the creative solutions needed for these challenging new frontiers? Our funding partners clearly believe that we do. This year we negotiated contracts totaling nearly $75 million, which will multiply many times over the annual contributions we receive from our generous contributors. During the next few years, these funds will translate into hundreds of thousands of women-owned enterprises supporting families in Afghanistan and Pakistan, improved health for millions of families protected from the scourge of malaria in Tanzania, tens of thousands of youth in Morocco and Egypt with new hope for employment and economic security, and a host of other programs that will create new solutions to poverty.

We also believe that our mandate extends to sharing our faith-based values. Will we one day see the greed and excess that characterized those who created the global crisis replaced by integrity and genuine concern for those in need around the world? Will entrepreneurs, large and small, one day see their role as creating wealth and sustainable livelihoods for all?

This year we created new solutions to poverty for 2.8 million families in 44 countries, in partnership with 120 locally owned and managed organizations. Families from Afghanistan to Zambia benefited from increased incomes, new skills, better health and new hope.

We were delighted that, despite the global economic crisis, 2009 was a year of continued growth for MEDA. Although contributions from our 2,900 members and 2,600 supporters were down 15% to $2.5 million, we were able to multiply those contributions with government contracts and other funding by a factor of nine to one, for total revenue of $25.1 million, up 36% from last year. Our newly opened European office accounted for nearly 6% of contributions.

Equally important, assets in the Sarona Risk Capital Fund increased 6% to $11.4 million, members' direct investment in MEDA programs increased 19% to $19 million, and assets under management increased 33% to $175 million.

Our net surplus of $808,000 resulted from a $385,000 operating surplus and a $423,000 appreciation in the value of our Sarona Risk Capital Fund investments. Most of these funds will be reinvested again and again in businesses that serve the poor.

We are immensely grateful to our members and our board who generously share their time, skills and resources to help MEDA explore New Frontiers: New Solutions. We invite you to join in this work.

Allan Sauder, President
Mel Stjernholm, Chair


 

MEDA Annual Report - 2008

MEDA Annual Report - 2008

Executive View

In a topsy‑turvy world of investments gone bad, disappointing returns, missed quarterly projections, and assets not worth the paper they are written on, how can we speak of Dividends of Hope? It is easy to become frustrated when hard work and careful saving does not yield the kind of future we envisioned. But most of us remain confident that in the long run those investments will recover.

For millions of poor families around the world, however, there are no retirement funds, stock portfolios, or even bank accounts. There is only the daily grind of finding enough food, water and fuel to provide the basics. Earnings from small businesses and farms are often inadequate to afford education for their children, decent housing to protect from the elements, or health care for the sick and elderly. Where then is their hope?

At MEDA we believe that investing in the poor is our God‑given mandate and a proven strategy for creating sustainable livelihoods. "God puts poor people on their feet again; he rekindles burned‑out lives with fresh hope, restoring dignity and respect to their lives – a place in the sun!" (1 Samuel 2: 8 MSG). We believe people in business are called to serve God with their unique gifts. When we take a risk with the poor and apply business principles to create sustainable livelihoods, hope is clearly the dividend – hope for economic security, hope for a better future, hope for peace and prosperity.

This year MEDA's work extended dividends of hope to more than 2.6 million families in 44 countries, in partnership with 139 locally owned and managed organizations. Families from Afghanistan to Zambia benefited from increased incomes, new skills and better health – new hope!

God also calls us to invest in the things that are important. "Be generous: Invest in acts of charity. Charity yields high returns" (Ecclesiastes 11:1 MSG). We were delighted that, despite turbulent markets, 2008 was a year of continued growth for MEDA. Contributions from our 2,900 members and 2,000 supporters reached a new record of $2.9 million, up 12% from last year. We were able to leverage those contributions with government contracts and other funding by a factor of more than five to one, for total revenue of $18.5 million, up 15% from last year.

Equally important, assets in the Sarona Risk Capital Fund increased 34% to $10.7 million, members' direct investment in MEDA programs increased 20% to $15 million, and assets under management increased 36% to $132 million. Our net surplus of $1.8 million, resulting largely from appreciation in the value of our Sarona Risk Capital Fund investments and generous contributions, gives us hope that the poor are indeed investible. Most of these funds will be reinvested again and again in businesses that serve the poor.

This year we also began what we hope will become a more global outreach to supporters, investors and government donors. Titus Horsch was hired as our MEDA representative for Europe, based in Germany and charged with expanding our visibility there and throughout Europe.

We are immensely grateful to our members and our board who generously share their time, skills and resources to help MEDA create Dividends of Hope. We invite you to join in this work.

Allan Sauder, President
Mel Stjernholm, Chair


 

MEDA Annual Report - 2007

MEDA Annual Report - 2007

Executive View

Leaders know all about trust. Handling tough choices in our businesses, communities, churches and development programs demands trust – in the strength of our relationships, in the skills and experience we bring, in our values, and above all, in God’s abiding love and guiding hand.

“Let the morning bring me word of your unfailing love, for I have put my trust in you. Show me the way I should go, for to you I lift up my soul” (Psalm 143:8 NIV).

As leaders, we can build Trust in a World of Change. Amid daily chaos, fear and misunderstanding, we are called to help restore right relationships – with God, with neighbors, and with all of creation. At MEDA we believe people in business can serve God with their unique gifts. When we take a risk with the poor and apply business principles to create sustainable livelihoods, hope is clearly the result – hope for economic security, hope for a better future, hope for peace and prosperity.

In business, as in all of life, relationships are the key. Despite flagrant betrayals by some, trust is really at the heart of all business transactions. Relationships depend on trust, so to restore relationships we need to build trust. And that takes time. It comes not so much from what we say but from how we live daily in business, in our professions, in our families. And it begins with hospitality. “Also you shall not oppress a stranger, for you know the heart of a stranger, because you were strangers in the land of Egypt” (Exodus 23:9 NKJV).

This year MEDA’s work extended trust and hospitality to 2.2 million families in 39 countries, in partnership with 127 locally owned and managed organizations. Families in places as remote as Afghanistan and Tajikistan, and as close to home as New Orleans and Appalachia, have all benefited from increased incomes, new skills and better health. We have developed friendships and better understanding – relationships based on trust that are surely the building blocks to peace.

We are delighted that 2007 has been a year of continued growth for MEDA, with a positive bottom line. Revenue increased by 17 percent to $16.1 million, while contributions from our 2,500 members and 1,600 donors grew 46 percent to $2.6 million – providing the valuable matching funds that help us leverage contracts from governments and large donors. Our net surplus of $1 million, resulting primarily from generous contributions to our Sarona Risk Capital Fund and some appreciation in the value of our investments, will be reinvested in businesses that serve the poor.

We are immensely grateful to our members and our board who generously share their time, skills and resources to help MEDA build Trust in a World of Change. We invite you to join in this work.

Allan Sauder, President
Mel Stjernholm, Chair


 

MEDA Annual Report - 2006

MEDA Annual Report - 2006

Executive View

MEDA is an association of leaders... in our businesses, our communities, our churches, and our development programs around the world. To lead is to influence change. As leaders, we have the opportunity to Set the Pace. MEDA’s members are entrepreneurs who work together to help others reach their God-given potential. Investing in business goes far beyond our own ventures – it stretches to helping women in Pakistan access better markets for their embroidery; farmers in Nicaragua to access the capital they need to grow; young entrepreneurs in North America to develop the skills and confidence to get into business; students in Egypt to work more safely while they help their families afford education; and mothers in Tanzania to buy insecticide-treated bed nets that protect them and their families from malaria.

But to lead is also a responsibility. We are called to lead in ways that our values are inseparable from our work. Our organizations’ credibility depends on our personal integrity in all matters and truly caring for those whom we serve – customers, partners, donors, clients, investors and everyone we encounter in our working life. We are called to lead in ways that honor God, because it is God who is ultimately in charge.

“Our lives get in step with God and all others by letting God set the pace, not by proudly or anxiously trying to run the parade.” (Romans 3:27 The Message)

It is our privilege to bring you this report of MEDA’s activities in fiscal year 2006. We are pleased to report that MEDA continues to be a leader in innovation for the poor – setting the pace for others to follow. Through our programs of economic development we served more than 2.6 million clients this year, in partnership with 173 organizations in 35 countries around the world. And those numbers do not even count the organizations that we worked with in the past who continue to provide thousands of entrepreneurs with financial, marketing and training services long after MEDA is no longer directly involved.

We are also very pleased that 2006 has been a year of continued growth for MEDA, with a positive bottom line. Total revenue increased by 25 percent to $13.7 million, while contributions from our members and donors increased six percent to $1.8 million and provided the valuable matching funds that we need to leverage contracts from governments and other donors. Our net surplus of $696,000 resulted primarily from generous grants and contributions to our Sarona Risk Capital Fund and some appreciation in the value of our investments.

We are immensely grateful to our members and our board who generously share their time, skills and resources to help MEDA set the pace. We invite you to share in this work.

Allan Sauder, President
John Yoder, Chair