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					                                                                           NEWSLET TER OF ACCION INT ERNATIONAL FALL/WIN TE R 201 0–11




ventures



 Adventures in Microfinance                                                                               Ambassador Kelly Damm
                                                                                                          (bottom right) visits with the
                                                                                                          “La Esperanza” Women’s
 ACCION Deploys Its First Group of Volunteer                                                              Committee in Areguá,
                                                                                                          Paraguay. Working together,
 Ambassadors to the Field                                                                                 members of the committee
                                                                                                          have taken out a group loan
 The sun sinks into its afternoon easy chair    the week’s final instructions as open as the              from ACCION partner Fun-
 and streams softly through the windows,        possibilities that await them. She adds,                  dación Paraguaya in order to
 reminding everyone of the world beyond         “And then reflect.”                                       build their microenterprises.

 this sterile room—and that yet another
                                                This past summer, ACCION launched
 day of intense training is nearly done. But
                                                its Ambassador Program, sending young
 ACCION’s volunteer Ambassadors power
                                                volunteers to the field to witness the
 through their post-lunch energy free-fall,
                                                impact of microfinance first-hand and
 diving into a lively discussion on the
                                                report back on it.                                        INSIDE THIS ISSUE
 cultural issues they’ll soon face.
                                                                                                          Q Nueva Era 3
                                                “So far, I’d only experienced the world of
 “As a Scandinavian Protestant headed to                                                                  Q From the Field:
                                                microfinance through books,” explains                       Michael Schlein 4
 a Catholic country, I worry about how I’ll
                                                Carlo Capra, a 23-year-old student from                   Q Spotlight on Our Supporters:
 be received,” voices a young woman with
                                                Milan, Italy. “I wanted to see it in the field,             Barbara Lucas and
 clear blue eyes and hair the color of wheat.                                                               Richard Nesson 5
                                                where it can really change people’s lives.”
                                                                                                          Q In the Streets and Markets 6–7
 “I’m a vegetarian,” adds another. “What
                                                In all, more than 70 people answered the                  Q Thanks to Our Friends 8–11
 should I do if someone offers me meat?”
                                                call for applications. Hailing from England,
 The Ambassadors engage in several rounds       Colombia, Finland, Italy, Austria and the
 of discussion to prepare them for the vivid    United States, those selected collectively
 and complex cultural experiences awaiting      speak 11 languages and represent a
 them in Mexico, India and Paraguay.            broad diversity of cultural, educational
                                                and professional experiences.
 “Do what you think is right in the moment,”
 offers the ACCION staff trainer—leaving                                (Continued on page 2)

                                                                                                          www.accion.org
Adventures in Microfinance
( Continued from page 1)




                                                                                                                   “So far, I’d only expe-
                                                                                                                   rienced the world of
                                                                                                                   microfinance through
                                                                                                                   books,” explains Carlo
                                                                                                                   Capra, a 23-year-old
                                                                                                                   student from Milan,
                                                                                                                   Italy. “I wanted to see
                                                                                                                   it in the field, where
                                                                                                                   it can really change
                                                                                                                   people’s lives.”




The ACCION Ambassadors at their training in Boston in June: (back row from left) Kelly Damm, Nick Roose (program coordinator), Catalina Sicard,
Mariel Cabral, Carlo Capra, (middle row from left) Shaheen Verjee, Nadia Costanzo, (front row from left) Farah Mohammadzadeh, Kaisa Koivisto.


Despite that diversity, however, this                 process is at the heart of responsible micro-         Ambassadors Farah Mohammadzadeh,
initial group all shared a common goal—               lending and must be completed thoroughly              Nadia Costanzo and Carlo Capra rumble
to move beyond theory and talk directly               and carefully.                                        along a red dirt road in a bright blue-and-
to microentrepreneurs about their                                                                           yellow diesel bus. It’s the second week of
                                                      This year’s class of Ambassadors were
experiences.                                                                                                their deployment and they’re escaping the
                                                      hosted by three of ACCION’s partners—
                                                                                                            busy, and by now familiar, city streets of
Rajesh, a Swadhaar loan officer, deftly               Fundación Paraguaya in Asunción,
                                                                                                            Asunción. They’re headed to the country,
navigates the market’s narrow passages,               Paraguay; Banco Compartamos in Mexico
                                                                                                            where, as Carlo later reports, “It’s a com-
an umbrella and black backpack full of                City; and Swadhaar FinServe in Mumbai—
                                                                                                            pletely different world… a place where you
notebooks and pens slung casually over                as well as by ACCION’s own Dialogue
                                                                                                            can still feel the traditional lifestyle and
his shoulder. His companion this afternoon            on Business financial literacy program
                                                                                                            experience the real life of this country.”
is Catalina Sicard, a senior associate for            in Bangalore, India. There, they learned
ACCION in Bogotá, Colombia and an                     the basics of what’s required to make                 They jump out in Luque and make their
ACCION Ambassador ‘serving’ this sum-                 sustainable microfinance run… and keep                way to the neighborhood of Itapuami.
mer in Mumbai.                                        on running.                                           There, they join a microfinance solidarity
                                                                                                            group—women who have assembled in
Rajesh and Catalina spend an hour with                “It’s particularly fulfilling to meet rural
                                                                                                            a yard that’s animated by soccer-playing
Pankaj, a shoe vendor, posing question after          and urban [borrower] groups, as well
                                                                                                            children, dogs, cows, chickens and pigs.
question to him about how he manages                  as individual clients, to see how much
                                                                                                            The group calls itself Kuña Guapa—‘working
his business. Rajesh is conducting the first          the different clients’ needs vary and
                                                                                                            women’ in the local Guarani language—
step in the loan application process—deter-           how Fundación Paraguaya is developing
                                                                                                            and they’re here for their renovación, or
mining the person's “willingness to pay.”             ways to target each type of client,”
                                                                                                            renewal meeting, which occurs every
Catalina observes that this painstaking               says Ambassador Nadia Costanzo, an
                                                                                                            four months.
                                                      American and a recent graduate of the
                                                      U.K.’s University of Bristol.


Q 2 VENTURE S Fall/Winter 2010–11
For several hours, the Ambassadors observe      speak of how they were struck, again            everyone present. Fortunately, it seems,
the group at work, noting the democratic        and again, by the astounding sense              the amount of income one makes doesn’t
nature of their interactions. Together the      of gratitude and hope shared by the             dictate overall happiness.”
members decide how much their next loan          microentrepreneurs they met.                   For more of the Ambassadors’ impressions, includ-
should be, and whether they should bring                                                        ing videos and photos, have a look at their blog,
                                                Summarizing the group’s sentiments,             www.accionambassadors.wordpress.com. To read
new members into the group. Then they
                                                Farah concludes, “I met so many women           more about the Ambassador Program and how to
each share their plans for expanding their
                                                and was overwhelmed to hear about               apply, please visit www.accion.org/ambassadors.
businesses—selling baked goods, tailoring
                                                everything they had to juggle—house-
and blanket-weaving.
                                                work, children, income-generating work,
When asked their impressions of the             school, more work… And yet, they always
experience, the Ambassadors most often          had a sparkle in their eye and a joke for




N UEVA ERA
Supporting One Another, a Community of
Women in Paraguay Kick Off a New Era
By ACCION Ambassador Farah Mohammadzadeh

Señora Melania Gomez waits patiently for the others.
She is sitting next to her careworn shrine to the Virgin of                                      Melania and Farah in Asunción in July 2010.
Caacupé, patron saint of Paraguay, her brown eyes scan-
ning the half-cobblestone, half-dirt road in this Bañado       as the members collectively pay back their loans, the
Tacumbú neighborhood of Asunción, searching for signs          group will be able to borrow increasingly larger amounts
of her guests’ arrival.                                        from Fundación Paraguaya. Melania expresses confidence
Most Saturdays and Sundays, she is here in the yard            in the group’s future, saying, “These women are hard-
outside her two-room house, preparing and selling              working entrepreneurs I personally know and trust.”
asaditos (barbecued meats with manioc and bread) to            All 12 women arrive and assemble for the meeting. They
her neighbors. She started the business to supplement          discuss the loan and repayment terms, talk about paying
her husband’s income and help support their family             money into a caja chica, or savings collective, in case they
of six. Like any good entrepreneur, Melania knows her          need to cover a member’s payment for a week due to
market intimately. “Many women, by the weekend,                illness or another misfortune, and elect officers. Melania
they don’t want to cook anymore,” she explains. “So            is elected director of finance for the group, and while
they come here and buy my food because it’s closer and         she expresses reluctance to take on additional responsi-
cheaper than going to the nearest restaurant.”                 bilities, she is “happy to do it for the group.”
Today, however, Melania won’t be making any asaditos.          Energized by the meeting and brimming with optimism,
Instead she is hosting the first meeting of a new group of     the women make one final decision before adjourning
12 women who, together, will take out a microloan from         for the day and returning to their work and families.
ACCION partner microfinance institution, Fundación             When it comes time for them to choose a name for their
Paraguaya.                                                     group, they settle on Nueva Era—“New Era.”
Melania plans to use her 500,000 guarani (US$100) to           Read more stories about microfinance by ACCION Ambassadors at
buy more meat and drinks for her business—enough to            www.accionambassadors.wordpress.com.

serve an extra 10 to 15 customers per day. Over time,




                                                                                                                          www.accion.org 3 Q
V O IC ES F ROM THE FIEL D




Stepping Out                                                  Michael Schlein talks with microentrepreneurs in the Tudu Market in Accra, Ghana in March.

                                                              why when she proudly introduced me to her daughter
Michael Schlein Reflects on His First Year                    who, with help from her parents, attends university in
at ACCION                                                     Beijing where she is studying to become a nurse.
Dear ACCION Supporter,                                        I also met a couple in Port-au-Prince, Haiti who had lost
It’s been a full year since I began as president and CEO      their parents and their home in the devastating earth-
of ACCION International. One of my goals in these first       quake. Still, remarkably, they told me how they, “felt
12 months has been to spend as much time in the field         blessed.” Their construction supply business had been
as possible. The trips have been instrumental in helping      spared and they shared with me their plans to move for-
me to better understand what microfinance means to            ward out of tragedy, running their business and rebuild-
the people we serve. In every culture and every context,      ing their lives with help from microfinance.
I’ve met someone who has begun a difficult but empow-         While in Patna, in northern India, I met a woman who
ering journey toward better opportunities, thanks to          had just begun tailoring for a fee and was earning an
microfinance.                                                 income for the first time in her life. She told me that she
                                                              felt empowered and accomplished. For her, the loans
In every culture and every context,                           don’t just help build a business—they build confidence
                                                              and the capacity to succeed.
I’ve met someone who has begun a
                                                              I am both proud and humbled that ACCION can play
difficult but empowering journey
                                                              such a role in empowering the poor to succeed. With
toward better opportunities, thanks                           your support, we go to remote and difficult places,
                                                              where we work to build inclusive financial systems for
to microfinance.
                                                              the entrepreneurial poor. These places require nerve,
In Inner Mongolia, China, I visited with a woman who          commitment and an appetite for risk, but we are tena-
bakes cakes for her husband to sell at the market. She        cious—as tenacious as the people we serve.
prepares the cakes in one tiny, drafty room of their small,   Thank you for helping millions with your support.
two-room home. Despite having so little, she holds a
burning hope for the future. It became instantly clear        Michael Schlein
                                                              President and CEO



Q 4 VENTURE S Fall/Winter 2010–11
Spotlight on Our Supporters
Seeing Is Believing:
Barbara Lucas and Richard Nesson on the Value
of Meeting Microentrepreneurs
“It’s very hard to go out in the field       Barbara and Richard’s leadership is
and come back without a passion for          informed by professional lives that
microfinance.”                               have included many years as securities
                                             and banking lawyers. This year,
So says Barbara Lucas, who, with her hus-
                                             they founded Luness Partners
band, Richard Nesson, generously gives
                                             (www.lunesspartners.com), a New York          Barbara Lucas and Richard Nesson visit with
of her time and resources to spread the                                                    microentrepreneur Mario Fernandez and his
                                             firm that specializes in legal and advisory
message of ACCION and microfinance.                                                        family in Guasca, Colombia while attending the
                                             services to capital markets participants      ACCION delegation last August.
Barbara and Richard so value the lessons
they learn when hearing directly from
microentrepreneurs, that in the past three
years, they have traveled to Nicaragua,
Ghana and Colombia with ACCION—
and led ACCION’s delegation to Bogotá
this fall.

“When you meet the clients,” explains
Barbara, “you immediately understand
that they are hardworking, proud people
who want the same things for their fami-
lies and communities that we want for
our families and communities. They don’t
want handouts, they want an opportunity.
That’s what microfinance gives them.”

Back home, they have channeled their
passion for microfinance into support-
ing ACCION and another microfinance
organization called Women’s Trust
(www.womenstrust.org). Their myriad          “Come and see how it works, get excited about it, roll
points of engagement include financial       up your sleeves and do what you can to help,” invites
support for many of ACCION’s pio-
neering projects, promotion of those         Barbara, as Richard adds, “If you keep your eyes open,
projects to members of their personal        you’ll come away feeling the same passion that we do.”
networks, Barbara’s position as secretary
on ACCION’s Board of Directors and
                                             on legal issues, compliance and risk man-     “Come and see how it works, get excited
Richard’s membership in ACCION’s
                                             agement. “We’re very familiar with the        about it, roll up your sleeves and do
President’s Council.
                                             opportunities that financial businesses       what you can to help,” invites Barbara,
As Margie Herrick, vice president of         create and the importance of access to        as Richard adds, “If you keep your eyes
Resource Development for ACCION, says,       capital in a society,” says Barbara.          open, you’ll come away feeling the same
“They put their time, treasure and talents                                                 passion that we do.”
                                             As familiar as they are with the clout of
where their hearts are, but they bring
                                             the mainstream capital markets, they
along their brains and they ask the hard
                                             stress that when it comes to microfinance,
questions, and thus provide wonderful
                                             seeing is believing.
leadership.”




                                                                                                                     www.accion.org 5 Q
IN THE S TREETS AND MARKETS
                                                  Haiti
                                                  Another heartfelt “thank you” to all of you
                                                  who donated to ACCION’s fund to support
                                                  Haitian microentrepreneurs and partner MFI,
                                                  SOGESOL, in the aftermath of the earthquake
                                                  earlier this year. Your gifts were vital to a
                                                  fundraising effort that has enabled SOGESOL
                                                  to provide grants to 2,000 of their poorest
USA                                               clients. SOGESOL also launched a program to
                                                  refinance approximately three-quarters of its
ACCION USA is giving green for green. Earlier
                                                  clients’ loans affected by the earthquake. With
this year, the leader in U.S. microfinance and
                                                  these funds, 8,000 microentrepreneurs have
small business lending launched a green loan
                                                  been able to rebuild and restock their homes
and education program in New York and
                                                  and businesses. Today, the streets and markets
Massachusetts. By combining microfinance
                                                  of Port-au-Prince are vibrant once more, filled
and green business, ACCION USA's pilot will
                                                  with people who are determined to persevere,
help an estimated 70 small businesses qualify
                                                  rebuild and succeed.
for loans to start or grow businesses that pro-
vide eco-friendly products or services. It also
helps everyday small businesses incorporate
green business and energy-saving practices into
their operations. www.accionusa.org/green

                                                                                                    Cameroon
                                                                                                    Rounding the Gulf of Guinea, ACCION and
                                                                                                    partner Ecobank are building on their successes
                                                                                                    in setting up banks for the poor in Nigeria
                                                                                                    and Ghana by launching a new microfinance
                                                                                                    bank called EB-ACCION Microfinance in
                                                                                                    Douala, Cameroon. There, only about one
                                                                                                    percent of people have access to microloans,
                                                                                                    making it one of the least served microfinance
                                                                                                    markets in the world. ACCION and Ecobank,
                                                                                                    a leading Pan-African commercial bank, aim
                                                                                                    to change that. Within three months of opera-
                                                                                                    tion, EB-ACCION Microfinance had already
                                                                                                    reached 1,190 people with microloans and
                                                                                                    savings accounts.




Q 6 VENTURE S Fall/Winter 2010–11
Worldwide
The Smart Campaign, for which ACCION’s
Center for Financial Inclusion serves as the
secretariat, continues to rally the international
microfinance community around establishing
and maintaining standards for client protec-
tion. Among other initiatives, The Campaign
recently published, “Responsible Pricing: The
State of the Practice.” The paper outlines ways                                                       China
to determine the responsible pricing of micro-
                                                                                                      In August, ACCION moved the mission of
loans and is a step toward establishing clear
                                                                                                      microfinance in China forward by co-hosting,
standards for MFIs. www.smartcampaign.org
                                                                                                      along with sponsor Credit Suisse, a training
                                                                                                      for 80 microfinance loan officers. Leveraging
                                                                                                      its nearly 40 years of leadership in the micro-
                                                                                                      finance field, ACCION trainers translated
                                                                                                      knowledge hewn in the streets and markets
                                                                                                      of Latin America, Africa and India to this group
                                                                                                      of eager practitioners. Armed with the wisdom
                                                                                                      and knowledge they need to best serve the
                                                    India                                             entrepreneurial poor in China, these loan offi-

                                                    Mumbai-based Swadhaar FinServe is at the          cers represent a world of opportunity in this

                                                    forefront of a quiet revolution in India—urban    country, where microfinance is just being born.

                                                    microfinance. So far, the MFI, of which ACCION    Good luck! ◊£ ƒ˙ ∫√ ‘À !

                                                    is the largest minority shareholder, is garner-
                                                    ing results that are not just encouraging, but
                                                    outstanding: Their client numbers have grown
                                                    over 38 percent since the end of 2008, and
                                                    the MFI has expanded beyond Mumbai into
                                                    Baroda and Pune. Currently, Swadhaar is reach-
                                                    ing over 40,000 urban working poor.




                                                                                                      For more information about ACCION's work
                                                                                                      around the globe, visit www.accion.org.




                                                                                                                                 www.accion.org 7 Q
Thanks to Our Friends
Contributions received     Charles and Jill Gross      Mark and                     The Estate of             Friends
between January 1, 2010    Karen P. Gupta               Margaret Burgessporter       Michael B. Quanty        ($250 to $499)
and June 30, 2010                                      Patty A. Cabot               Karla Reed
                           Joe and Luisa Hamilton                                                             Anonymous (9)
                           Richard Hedden              Paul D. Cadwallader          William Reichert          Kerrie and Nate Allen
ACCIONistas
                           Morton and Merle Kane       Ryan Cairns                  Elisabeth Rhyne           Jordan J. Arbit
($10,000 to $99,000)
                           Elizabeth and               Nancy Castle                 Duncan Richardson         Chris Bache
Titus and
  Wendy Brenninkmeijer       Dennis Keenan             Clinton Caywood              Sharon Rives and          Laura Bacon
                           Dennis and Joanne Keith     Pamela Church                 Paul Kendall
Keith and Adine                                                                                               Patrik Bank
 Kretschmer                Jeanie and Murray Kilgour   Jeffrey and Elena Clark      Glenn and Sharon Ruppel
                                                                                                              Dennis and Ann Barnacle
David and                  Jan Kleinman and            David and                    William Ryan and
                                                                                                              Katherine and D. Barnhill
 Katherine Moore             Fadil Santosa              Holiday Collins              Anjelica Pearman
                                                                                                              Carly Baxter
Arthur and Toni Rock       Thomas Lehrer               William Cummings             Judy Saryan and
                                                                                      Victor Zarougian        Elizabeth Bedford
Diana Taylor               David L. Leppik             Paul Dooley and
                                                                                    Robert Scholle            John N. Bennett
                           Jennifer Loveland            Winnie Holzman
                                                                                    Michael Seiden            Stephen and
Partners                   Elisabeth J. Machamer       Wes G. Ernsberger
                                                                                                                Cristina Bergren
($5,000 to $9,999)                                     Jeffrey Gallinat             Chandra Sekhar
                           Peter L. Malkin                                                                    Dawn S. Bowen
Susan and Eric Boyd                                    David Giglio                 Margaret Sellstrom
                           John Osborn                                                                        William Braden, III
Brian and Susan Clancy                                 Lee Graber                   RJ Serra
                           Daniel Pierce                                                                      Michael Briselli and
William Friedlander                                    Edward and                   Suzanne H. Shenk
                           Robert and Sally Quinn                                                              Jeannee Sacken
Eric and Susan Grossman                                 Genevieve Gracely           Robert and
                           Mel and Dee Raff                                                                   Marcia Brown
                                                       Clifford and Doris Gurney     Andrea Solomon
Leonora Hsieh                                                                                                 Damian G. Bulfin
                           Jack L. Ringer                                           Hope B. Stevens
Jeffrey and                                            Jane A. Henson
                           Mitchell Slep                                                                      Patrick Cahn and
  Scherry Johnson                                      Glenn Hubbard                Robert A. Stolzberg
                           The Estate of                                                                       Madeleine Schulman
Tara C. Kenney                                         Dennis A. Hunter             Dana Sunshine and
                            Estelle Smucker                                                                   Traci and Dan Calabrese
                                                                                     Alexander Moldovan
Richard and Linda Miller                               Monwhea Jeng                                           Betsy S. Card
                           George and                                               Robert and
Barry and                   Barbara Lou Smyth          Nancy Jones                                            Kicab Castaneda-Mendez
                                                                                     Bonnie Temple
 Christine Phillips
                           J. Arnold Teasdale          Judy Judd                    Valerie Thomas Hamilton   Thomas and
Margaret and                                                                                                   Janice Chamberlain
                           Irene Tobias                Harry and Arlene Kiely       Robert and Vicki Tipp
 Stephen Senturia
                           Paul Tregidgo and           Wayne and                                              John and Nancy Citti
John and Jen Todd                                                                   Peter Vajda
                            Barbara Belch               M. Lynn Kinney                                        Edward H. Coburn
Mark and Anne Veldman                                                               Tina Vandersteel and
                           Rebekah Vickrey             Jennifer and Erik Kolderup     Matthew Cressotti       Elizabeth Conant and
                           Stephen A. Weyer            Michael and                                              Camille Cox
Challengers                                                                         Donna Vestal
                                                        Natasha Kosoff                                        Patricia Cook
($1,000 to $4,999)                                                                  Daniel and
                           Advocates                   Kendra and Phillip Krolik     Pamela Volkmann          Eldon and Cynthia Cotton
Anonymous (3)
                           ($500 to $999)              Frederick and                Ed and Patty Wahtera      Eric Craymer
Pauline M. Abernathy                                     Emily Kunreuther
                           Anonymous (4)                                                                      Patrick Curley
                                                                                    Scott and June Waltz
Robert and                                             Peter Lane
                           John and Sharon Amdall                                                             Walter and Edith Davie
 Susan Ackerman                                                                     Thomas J. Wersto
                           Susan Bartovics             Frances and Elliot Lehman
Julia P. Bailey                                                                     Tonia Willekes            James Davis
                           Allen Baum and              Melissa Lumpkin
John and Linda Benner                                                               Erin Wong                 Carl and
                             Liz Witzke-Baum           Paul McCarthy and                                       Constance Dellmuth
Mary Bower                                              Orla O’Callaghan            Lisa L. Yale
                           Elizabeth Letitia Beard
Charles and                                            Donald and
                           Ted and Julia Behar
 Winifred Falcon                                        Nancy McDaniel
                           Maxwell and Enid Bentley
Kate and                                               Steven and Rhonda Miller
 John-Paul Franklin        Maria and Bryan Bertram
                                                       Lindsay Noll and
Barbara Friedberg          Peter and Susan Betzer        Luke Leafgren
Lauren Friedman and        Peter Bevan                 Robert and Jana Norton
  Jack Himmelstein         Kathryn Boehnke             Karen M. Nunley
John and Michele Gillett   John C. Borton, Jr.         Kim Ogden and
Don R. Goodman             William Barton Boyer and      Frank Huntowski
Barbara and                 Elaine May Boyer           Jacqueline and
 Michael Gordon                                          Jean Paul Plumez




Q 8 VENTURE S Fall/Winter 2010–11
Jeffrey Dennis               Christine and               Robert F. Paashaus         Lelon and Jean Weaver       Stephen D. Dictor
Stephen D. Dictor             Michael Kasman             Michael J. Pappone         Ilene S. Weinreb            Mary Doerr
Gene Doutt                   Bernard Kastin              Andrew A. Patricio         Larry and Jackie White      Jeane J. Doncaster
Martin J. Dreyfuss           John and Cassie Keener      George Peterson            Joanne C. Zema              Alice Doppler
Francois Duboucheron         Robert A. Kelly             Robert and                 Cynthia S. Zimmer           Nellie Dorn
Margaret Eberbach            Joseph Kenderdine            Joan Pienkowski           T. G. Zimmerman             Don and Jan Downing
Jason Erickson               Tienna Kim and              Henry Posner, III                                      Sandra J. Downs
                               Junmo Lee                 George Prochnow
Ruth D. Ewing                                                                       Sustainer’s Society         Francois Duboucheron
                             Nancy Kitchens              Saveria and Joseph Pugni
Patrick Falkner                                                                     Anonymous (32)              Margaret Eberbach
                             Patrick Kleaver             Catherine Quense and
Eliana Felman                                                                       Miriam Adlum                Jason Erickson
                             Robert and Jean Kline        Sandy Ahlstrom
John B. Field                                                                       Robert R. Ammerman          Wes G. Ernsberger
                             David Ko                    Jeanne Radcliff
Michal Fineman                                                                      Jordan J. Arbit             Patrick Falkner
                             John and Inge Konther       Laurence and
Carol and Matthew Frigm                                                             Darrell and Laurel Batson   Keitha Farney
                             Russell and Janice Kramer     Stephanie Ralph
Amey Garber                                                                         Anne Baum                   Kathryn Feig
                             Arif and Deborah Kureshy    Edwin Rhyne
Marvin Garfinkel                                                                    Alberto Bernhardt           Mark Fernquest
                             Mary Kurien                 Maryanne Richter
William R. Garner                                                                   Vincent J. Bertino          Michal Fineman
                             David Landers               Alexander Robarts and
Kurt R.A. Giambastiani                                     Miran Yoon-Robarts       Peter Bevan                 Maribel Finley
                             William C. Leininger
Elizabeth and James Glenn                                Nancy Rudolph              Sondra Birkenes             Judith Flynn
                             Daniel Lew
Joel Golden                                              Peter and Karen Ryan       Adam J. Boltz               Stephanie and
                             Thomas Link                                                                          Owen Foizen
Daniel Goldstein and                                     Michel Santerre            Daniel F. Bostwick
 Laura Williams              Larry Lomax and                                                                    Darvin Foo
                                                         John H. Schatteles         Jean-Christian Bourcart
                               Barbara Wendt
Jim Gould                                                Robert J. Schifini         Dawn S. Bowen               Arthur R. Foster
                             Gwendoliner MacDonald
Connie Graham                                            Michael J. Schultz         Mary Bower                  Tim Foulkes
                             Robin Macilroy
Lois Greene                                              JoAnn Schwartz             Molly Brewton               Kate and
                             Diana and David MacRae                                                              John-Paul Franklin
D. Gumpertz                                              Thomas W. Sheehan          Marcia Brown
                             Gerald and                                                                         Dennis and
Margaret Gunther              Madeline Malovany          Evelyn H. Sheltrown        Robert Brown
                                                                                                                 Carol Friedman
Martin Gut                   Lorna Mansfield             John Sias                  Deborah D. Buffton
                                                                                                                William Frohn
Richard Hart and             Andrew Marmillion           Rebecca Siekevitz          Carole L. Burger
  Jennifer Rose                                                                                                 John Fulton
                             Peter and Ann Martin        Douglas Simmons            Jacqueline Burnett
Margaret Hassett                                                                                                William R. Garner
                             Melissa Mayfield            John and Janet Skadden     Virginia Burns
Laurence Hausman                                                                                                Ilse Gay
                             James McLean                Greta Smolowe              Patty A. Cabot
Agnes Hayden                                                                                                    Mary L. Glatt-Banks
                             Jesper J. Michaelsen        Justin E. Sockett          Traci and Dan Calabrese
Evan and Elaine Hazard                                                                                          Aruna Goel
                             Suzanne Miller              Ariana and Eric Sophiea    Jane F. Campbell
Lisa and David Hellerstein                                                                                      Gerard J. Goodman
                             Leonard Mitchell            Leslie Stevens             Betsy S. Card
Jean Herron                                                                                                     Catherine Grant
                             Geneva Moores and           Katherine and              Gerda Carmichael
Hans-Peter Hiestand                                                                                             Glen Grayman and
                              Peter De Boor               Hugh Stierhoff            Nicole Soucy Cassidy         Karla Rodine-Grayman
Elizabeth B. Hirsch          Maria Moret                 Eric and Mayra Strand      Alex Castillo               Vickie and Gary Greaves
Lisa Hoene                   Francois Morin              Jonathan and               Jonathan Cheetham           James and
Ronald Hogan                 Ruth I. Morton                Helen Sunshine                                         Lucinda Grovenburg
                                                                                    Paul Civili and Mary Hart
Mike Hollander               Peter A. Mullin             Mark Tasch                                             Cami Grover
                                                                                    Clicquot Club Cafe
William and                  Jeffrey and                 Sara Taylor                                            Michael and
                                                                                    Edward H. Coburn
 Hoi-Ying Holman               Trisha Murawski           Russell Tripp                                           Barbara Gruber
                                                                                    Richard Conn
Grace Hosking                Daniel Naegeli              Wendy C. Tucker                                        Ira P. Gunn
                                                                                    Katherine M. Conover
Eric and                     Craig Napoliello            David Turner                                           Barbara Hale-Seubert
  Rebecca Houghton                                                                  James Davis
                             Daniel Nicholson            Robert and                 Betty Dearborn              Seymour Hanan
David Israel-Rosen                                        Marjorie Van Handel
                             James and                                              Walter Denley               Elen Hanley
Emmette Jacob                  Elizabeth Northrop        Kim and
                                                                                    Sandra Detwiler             Judith Harris
Dilmus and Jeanette James    Fredrick Orkin                Ravi Venkataraman
                                                                                    Leah and Kenneth Dick       Thomas F. Heck
Charles and                  James Ortlieb               Florence Wagner and
 Sally Jorgensen                                           Judith Border            Eileen Dicks                Ruth and Carol Heimer
Frances Kandl                                            Frances A. Walker                                      Robert Heinz




                                                                                                                     www.accion.org 9 Q
Thanks to Our Friends (cont.)
Jonathan Hera               Jeffrey and               Henry Valente              Norman Rose                 Donor Advised
Nancy Houk                    Trisha Murawski         Mario Valladares           Robert and                  Funds, Matching
Mary Hudgins                Lindsay Noll and          Jordan VanderLaan           Sibylle Scarlett           Gift Organizations &
                              Luke Leafgren                                      Josie Sentner               Workplace Giving
Philip Incao                                          Benjamin Viemeister
                            Robert and Jana Norton                               George and                  Programs
Emmette Jacob                                         Pauline Vu
                            Aaron T. Olson                                         Barbara Lou Smyth         American International
Jacques F. Jacobson                                   Donn and Annita Weaver
                            Ellen Oppler                                         Nancy S. Truitt              Group Inc.
Andres Jatombliansky                                  Lelon and Jean Weaver
                            Angeline Pappas                                      Gary A. Winter              America’s Charities
Ellen Johnson                                         Margaret Welin
                            Andrew A. Patricio                                                               Ameriprise Financial
Diana Keegan                                          James White
                            William and                                          Institutions                Austin Community
Donna Lee Kennedy            Mary Jo Peters           Leslie Wilbur              $100,000 and above           Foundation for the
Jonathan Kimmel                                       Tonia Willekes                                          Capital Area
                            George Peterson                                      Citi Foundation
Janet and Alvin King                                  Jo Ann Williams                                        Bank of America
                            Mary M. Printzenhoff                                 International Finance
Wayne and                                             Sheila Williams              Corporation               Boeing Charitable Trust
                            Karla Reed
 M. Lynn Kinney                                       Enery Williamson           UPS Foundation              Calvert Social Invest-
                            William Reichert
Robert and Jean Kline                                                                                         ment Foundation
                            Sara Rhoton               Virginia Windley
Eric Klootwyk                                                                    Institutions                Chevron Corporation
                            Billie Jo Richards        Catherine Youngen
Yves and Carol Kraus                                                             $250 – $99,000              Cisco Systems, Inc.
                            Charles Robinson          H. Berrien Zettler
Kendra and Phillip Krolik                                                        Anonymous                   The Community
                            Fran and Maura Roby       T. G. Zimmerman
                                                                                                              Foundation of Greater
Frederick and                                                                    The Brinson Foundation
                            Heather A. Rodin                                                                  Greensboro
  Emily Kunreuther                                                               Christ United Methodist
                                                      Recife Society                                         Community Foundation
Peter Lane                  David Roscoe                                          Church
                                                      Anonymous (2)                                           of New Jersey
David Langford              Nancy Rudolph                                        Concord Advisory Group
                                                      Andres Acedo and                                       The Community
Christopher Lee             R. W. Rumsey                                         The Core Group
                                                       Belinda Barrington                                     Foundation, National
Edward Lesen and            Glenn and Sharon Ruppel                               Holding Ltd.                Capital Region
                                                      Ronald and
 Clarice Pollock            J. Rusciolelli             Patricia Anderson         Friedlander Family Fund     Dallas Jewish
Joan Levine                 Michel Santerre           James Bellevue and         The Glickenhaus              Community Foundation
Daniel Lew                  Calvin L. Satterfield       Elena Lipkowski           Foundation                 Dell Direct Giving
                                                      Albert Bildner             Hardcastle Trading USA       Program
Eileen D. Logan             Linda Schreiber
                                                      Mark and                   Honeybee Foundation         Deutsche Bank Americas
Joan Lomaki                 Martha K. Schuh
                                                       Margaret Burgessporter    The Huber Family             Foundation
Larry Lomax and             JoAnn Schwartz
                                                      Lynn Caporale               Foundation                 Eaton Vance
  Barbara Wendt             Connie Segal
                                                                                 The LaGarde                   Management
Robert Loucks                                         Carol Cavanaugh
                            Luke Shafnisky                                        Charitable Trust           ExxonMobil Foundation
Jane W. Lusk                                          Roger and
                            Gregory and                                          The David and               Fidelity Charitable
                                                       Shirley Conant
George and                   Josephine Shaya                                      Katherine Moore              Gift Fund
 Beatrice Luthringer                                  Ruth O. Frank
                            Thomas W. Sheehan                                     Family Foundation          FM Global Foundation
Ron Luz                                               Emily Garlin
                            Evelyn H. Sheltrown                                  Mouat Charitable Trust      Follett Corporation
Susan Martin                                          Gilbert W. Glass
                            Sandi Skeckowski                                     David & Carol Myers         GE Foundation
Everett Matz                                          Robert and                  Foundation
                            Darrell Smith                                                                    Global Impact
                                                       Ellen Gordman
Diane L. McAvoy             Emil Smith                                           Netherlands Develop-
                                                      June E. Heilman                                        Google Inc.
Margaret J. McComas                                                               ment Finance
                            David R. Southern                                     Company (FMO)              Grantham, Mayo,
                                                      Roy Jacobowitz and
Alisa and Josh Meggitt      Raymond Stiefel                                                                   Van Otterloo & Co. LLC
                                                       Roberta Moss              On the House
Luis Mendoza                Kevin M. Stoner                                       Foundation                 Hewlett-Packard
                                                      Keith and Adine
Bill Messerschmidt          Beverly J. Sutton          Kretschmer                Jack Ringer Family          Important Gifts, Inc.
Jesper J. Michaelsen        E. Michael Sweeney        Wendy and                    Foundation                ING Foundation
Steven P. Millard                                      Stanley Marsh, 3          Share Our Strength          International Business
                            Kathleen A. Sweet
Roger Miller                                          Caroline Ramsay Merriam    The Shelley Family Fund       Machines
                            Loyola Sylvan
Steven and Rhonda Miller                              Richard and Linda Miller   Sisters of                  The Jewish Community
                            Jennifer Tice
Mary D. Moon                                          Thomas Nagle and             the Divine Savior          Foundation of Northern
                            Paul Tice                                                                         California’s Greater
                                                       Leslie Haller             Stifler Family Foundation
Ariel Morgenstern           Nancy T. Trimble                                                                  East Bay
                                                      Mila Reyes-Mesia           The Tundra Glacier Fund
Alisha Moseby               Altagracia Trinidad                                                              The Jewish Community
                                                      Abigail Rome               Weiss Fagen Fund
                            Russell Tripp                                                                     Foundation Los Angeles




Q 10 VENTURES Fall/Winter 2010–11
                           BU ILD
                           A L EGACY
JustGive.org
Kaiser Permanente
Liberty Mutual
                           OF HOPE
Macquarie Group
McAfee, Inc.               Strengthen ACCION’s Future
The Merck Company          through Planned Giving
 Foundation
Microsoft Corporation      You can leave a legacy of hope and make a lasting impact on the
MissionFish                fight against poverty. By naming ACCION in your will or trust, you
Minneapolis Jewish         join a special group of friends known as the Recife Society. Named
 Federation
Morgan Stanley             after the town in Brazil where ACCION made the very first microloan
Network For Good           in 1973, the Recife Society continues the tradition of helping people
The New York               work their way out of poverty now and in the future.
 Community Trust
Orange County              We invite you to learn more about how to join this inner circle
 Community Foundation
                           of dedicated ACCION supporters by contacting Heidi Eagles,
PepsiCo Foundation
The Pfizer                 ACCION’s Planned Giving Officer, at (617) 624-7080 ext. 1365 or
 Foundation, Inc.          heagles@accion.org.
The Pittsburgh
 Foundation
QUALCOMM Inc.
                           “I named ACCION in my will because my hope for
The Regence Employee       the future is that people will be able to decide their
 Giving Campaign
Rochester Area             economic futures for themselves and not have
 Community Foundation
Russell Investments        it dictated to them. Microfinance enables that. I
The Schwab Fund for
 Charitable Giving
                           want to make sure that the work continues—the
Silicon Valley Community
  Foundation
                           work that I have done for economic justice in my
The Standard Employee      lifetime and the work that ACCION is doing.”
 Community Campaign
Tompkins Charitable        Caroline Ramsay Merriam, ACCION Recife Society Member
 Gift Fund
United Way of
 New York City
United Way of
 Rhode Island
Vanguard Charitable
 Endowment Program
Verizon Foundation
World Bank Community
 Connections Fund

In-Kind Donors
Advanced Merchant
 Payments, Ltd.
Foley Hoag LLP
Goodwin Procter LLP
The Horn Book, Inc.
Diana Taylor




                           Microentrepreneur Tawa Adeogun stands with her son outside the narrow, one-room stall
                           where she sells rice and vegetable oil in Lagos, Nigeria.


                                                                                             www.accion.org 1 1 Q
C O MIN G S OON . . .

ACCION’s Online MicroMarket
Where you can purchase compelling, meaningful virtual gifts for
your loved ones while supporting hardworking microentrepreneurs
around the world.
Regardless of your budget, you’ll find virtual gifts that compliment the interests of
everyone on your list, spreading good will and opportunity near and far!

Arriving just in time for the holidays. Visit www.accion.org to learn more.


                                                                                        PHOTO CREDITS
                                                                                        Front cover: Fabiola Cantero
                                                                                        Page 3: Sandra Elizabeth Gomez
                                                                                        Page 4: Christal Jeanne for
                                                                                        ACCION International
                                                                                        Page 5: Rohanna Mertens for
                                                                                        ACCION International
                                                                                        Page 6: USA – Raquel Sierra Pinto;
                                                                                        Cameroon – John Rae for
                                                                                        ACCION International
                                                                                        Page 7: All – John Rae for
                                                                                        ACCION International
                                                                                        Pages 8 and 11: John Rae for
                                                                                        ACCION International
                                                                                        Back cover: Rohanna Mertens for
                                                                                        ACCION International




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                                                                                            come




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