International, Foreign Affairs, and National Security

Fonkoze USA

  • Washington, DC
  • www.fonkoze.org

Mission Statement

Fonkoze USA's mission is to stand with the organized poor of Haiti by providing human, financial and technical resources and to raise awareness of Haiti's needs. Fonkoze USA works together with its Haitian partners to provide the financial and non-financial tools that Haitians—primarily women—need to lift their families out of poverty.

Main Programs

  1. Microfinance
  2. Chemen Lavi Miyo (Pathway to a Better Life)
  3. Boutik Sante (Community Health Store)
  4. Adult Education
Service Areas

Self-reported

International

Education and fund raising activities are conducted in many communities throughout the United States.

ruling year

1997

Interim Executive Director since 2015

Self-reported

Ms. Margaret A. Fourré

Keywords

Self-reported

microfinance, financial inclusion, literacy, economic development, women, international development, Haiti, caribbean

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EIN

52-2022113

Contact

Cause Area (NTEE Code)

International Economic Development (Q32)

Management & Technical Assistance (Q02)

Fund Raising and/or Fund Distribution (Q12)

IRS Filing Requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Programs + Results

How does this organization make a difference?

Overview

Self-reported by organization

Fonkoze has become the largest microfinance institution in Haiti, serving 60,000 borrowers and 200,000 savings clients. We leverage this unprecedented network of clients to deliver development services, improving the health, education, and economic situations of those we serve. Fonkoze USA is proud of the ongoing financial and technical support we provide to our partners in Haiti.

Programs

Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Program 1

Microfinance

Fonkoze is the largest microfinance organization in Haiti, serving 60,000 borrowers and 200,000 savings clients.

Category

International, Foreign Affairs & National Security

Population(s) Served

Female Adults

Poor/Economically Disadvantaged, Indigent, General

Budget

Program 2

Chemen Lavi Miyo (Pathway to a Better Life)

Modeled after BRAC's Graduation Approach, the CLM program enables the most vulnerable families in Haiti to lift themselves out of ultra poverty.

Category

International, Foreign Affairs & National Security

Population(s) Served

Poor/Economically Disadvantaged, Indigent, General

Female Adults

Budget

Program 3

Boutik Sante (Community Health Store)

Boutik Sante is a health social franchising initiative that will provide over 2 million Haitians with access to basic health products and services by 2020, by which time the program is expected to be self-sustaining.

Category

Health Care

Population(s) Served

Infants/Babies (under age 5)

Females, all ages or age unspecified

Budget

Program 4

Adult Education

Five educational modules are offered: Basic Literacy, Business Skills, Health and Disease Prevention, Environmental Protection and Sustainable Agriculture, and Children's Rights.

Category

Education

Population(s) Served

Female Adults

Poor/Economically Disadvantaged, Indigent, General

Budget

Results

Self-reported by organization

How does this organization measure their results? It's a hard question but an important one. These quantitative program results are self-reported by the organization, illustrating their committment to transparency, learning, and interest in helping the whole sector learn and grow.

1. Number of savings accounts used by clients

Target Population
Females, Adults, People of African descent

Connected to a Program?
n/a
TOTALS BY YEAR
Context notes for this metric

2. Number of clients who become literate because of literacy education programs by the nonprofit

Target Population
Females, Adults, People of African descent

Connected to a Program?
n/a
TOTALS BY YEAR
Context notes for this metric

3. Total dollar amount of loans issued

Target Population
Females, Adults, People of African descent

Connected to a Program?
n/a
TOTALS BY YEAR
Context notes for this metric

4. Number of borrowers served through the nonprofit's programs

Target Population
Females, Adults, People of African descent

Connected to a Program?
n/a
TOTALS BY YEAR
Context notes for this metric

Charting Impact

Self-reported by organization

Five powerful questions that require reflection about what really matters - results.

  1. What is the organization aiming to accomplish?
    Fonkoze is a family of institutions that work together to provide the financial and non-financial services to empower Haitians--primarily women--to lift themselves out of poverty.
  2. What are the organization's key strategies for making this happen?
    Fonkoze is composed of three organizations, including Fonkoze Financial Services, Fonkoze Foundation, and Fonkoze USA. Since its founding in Haiti in 1994, Fonkoze's leadership has agreed that microfinance services were essential in lifting Haitians out of poverty, yet these services needed to be complemented by additional development support in order for Fonkoze's clients to translate their loans into viable livelihoods. And so, in addition to a full spectrum of microfinance services, we also offer development services such as health, adult education, business skills development, and programs for the most vulnerable.

    Fonkoze USA conducts communications, fundraising, and outreach activities to generate support for our two partners in Haiti, Fonkoze Financial Services and Fonkoze Foundation. Fonkoze Financial Services provides microfinance services, including credit, savings, money transfer, currency exchange, and payroll processing to its clients. Fonkoze Foundation supports Fonkoze Financial Services clients by providing development services
  3. What are the organization's capabilities for doing this?
    Since its founding in 1994, Fonkoze's community-based network has expanded to 60,000 Fonkoze Financial Services borrowers—organized into 2,000 centers, each composed of six to ten Solidarity Groups, each composed of five women. Fonkoze Foundation has effectively leveraged this grassroots network to deliver programs and services throughout the country. In 2010, for example, Fonkoze Foundation's 22-month, $8.2 million Kore Fanmi program utilized the client network to support earthquake victims and their families. An American Red Cross study noted, “In a very short time, Fonkoze was able to reach almost 30,000 beneficiaries... branches across the country facilitated program deployment, without additional cost, and allowed Fonkoze to reach [households] living in remote areas."
  4. How will they know if they are making progress?
    Fonkoze USA assesses is progress based on its ongoing ability to provide financial and technical assistance to our Haitian partners.

    Fonkoze Financial Services uses standard microfinance indicators to measure the performance of its entire portfolio.

    Fonkoze Foundation's Social Impact Team uses a variety of tools, mechanisms, and metrics to assess the impact of miccrofinance and development services on our clients. Notably, it relies heavily on the Progress out of Poverty Index, which assesses household assets and characteristics as a measure of poverty.
  5. What have and haven't they accomplished so far?
    With over 60,000 borrowers and 200,000 savings clients, Fonkoze is the largest microfinance institution in Haiti. In 2015, Fonkoze disbursed $28.5 million in loans. With remittances making up 23% of Haiti's Gross Domestic Product, Fonkoze Financial Services' facilitation of international money transfers is an essential contribution towards the Haitian economy; in 2015, it saw $75 million in transfers with 249,164 transactions.

    To date, Fonkoze Foundation has "graduated" nearly 5,000 of the most vulnerable families in Haiti out of ultra poverty. Over 130,000 women have participated in adult education classes, including basic literacy and business skills. Fonkoze Foundation's innovative social franchising program has enabled 290 small entrepreneurs (all women) to sell over-the-counter health products and services to nearly 158,000 beneficiaries.
Service Areas

Self-reported

International

Education and fund raising activities are conducted in many communities throughout the United States.

Social Media

Accreditations

External Reviews

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Financials

Financial information is an important part of gauging the short- and long-term health of the organization.

FONKOZE USA INC
Fiscal year: Jan 01-Dec 31
Yes, financials were audited by an independent accountant.

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Operations

The people, governance practices, and partners that make the organization tick.

Fonkoze USA

Leadership

NEED MORE INFO ON THIS NONPROFIT?

Free: Gain immediate access to the following:
  • Address, phone, website and contact information
  • Forms 990 for 2015, 2014 and 2013
  • Board Chair and Board Members
  • Access to the GuideStar Community
Need the ability to download nonprofit data and more advanced search options? Consider a Premium or Pro Search subscription.

Interim Executive Director

Ms. Margaret A. Fourré

BIO

Margaret A. Fourré, Interim Executive Director of Fonkoze USA since February, 2016, has extensive non-profit management expertise, particularly with regard to development and communications initiatives. She has supported Fonkoze USA in a variety of capacities since 2007 and joined the staff as Deputy Director in June, 2015. Previously, she served as Director of Development for Common Hope and for St. Stephens Human Services, both in Minneapolis. At Common Hope, she increased the grassroots organization's revenue by over 30%. With a background in graphic design and marketing, Ms. Fourré has worked for and consulted with numerous organizations including Neural Stem Cell Institute in New York, Reuben Lindh Family Services in Minneapolis, Alliance Housing in Minneapolis, Child Caring, Catholic Charities of St. Paul and Minneapolis, and Continental Cablevision, among others. She has a certificate in Graphic Design from Santa Rosa Junior College and a BA in Speech/Communications from the University of Minnesota.

Governance

BOARD CHAIR

Therese Feng

Jefferies and Company

BOARD LEADERSHIP PRACTICES

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section, which enables organizations and donors to transparently share information about essential board leadership practices. Self-reported by organization

Yes

BOARD ORIENTATION & EDUCATION

Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations?

Yes

CEO OVERSIGHT

Has the board conducted a formal, written assessment of the chief executive within the past year?

Yes

ETHICS & TRANSPARENCY

Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year?

Yes

BOARD COMPOSITION

Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership?

Yes

BOARD PERFORMANCE

Has the board conducted a formal, written self-assessment of its performance within the past three years?