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