BBB Wise Giving Report for
Fonkoze USA

BBB Wise Giving Report issued May 2011
BBB Wise Giving Report expires May 2013


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


Find out more about this charity:

Back To Top

Charity Contact Information

Name: Fonkoze USA
Address: 1700 Kalorama Road NW, Suite 102
  Washington, DC 20009
Phone: 202-628-9033
Web Address: www.fonkoze.org
Back To Top

BBB Wise Giving Alliance Comments

Year, State Incorporated: 1997, New York
Affiliates:
Stated Purpose: "to stand with the organized poor of Haiti by providing human, financial, and technical resources and to raise awareness of Haiti's needs."

Back To Top

Evaluation Conclusions

               

Fonkoze USA (Fonkoze ) meets the 20 Standards for Charity Accountability.
Back To Top

Programs

               

Fonkoze USA provides grants, loans and technical assistance to Fonkoze Haiti and other development partners in Haiti. Fonkoze Haiti provides loans and financial services to Haiti's rural poor, mostly women market vendors. Fonkoze Haiti also provides programs of health, education, micro-insurance, SME development, and social performance monitoring. Fonkoze also provides a program for ultra-poor women that prepares them to start a business and successfully enter a microfinance program.

For the year ended December 31, 2009, Fonkoze's program expenses were:

  
Grants to Fondasyon Kole Zepol 1,494,224
Other program expenses 133,584
Education 110,630
Grants to development partners 59,496
Total Program Expenses: $1,797,934
Back To Top

Governance

               

Chief Executive : Leigh Carter, Executive Director
Compensation*:
 $90,500

Chair of the Board: Alex Counts
Chair's Profession / Business Affiliation: President, Grameen Foundation

Board Size: 11

Paid Staff Size: 4

*2009 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances. During 2009, John Mercier was the president of Fonkoze and received compensation of $90,500. The Alliance does not have compensation information on the current executive director.
Back To Top

Fund Raising

               

Method(s) Used:

Direct mail, special events, grant proposals, Internet appeals, and planned giving.
Fund raising costs were 5% of related contributions. (Related contributions, which totaled $2,390,905, are donations received as a result of fund raising activities.)
Back To Top

Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
Back To Top

Financial

               

The following information is based on Fonkoze's audited financial statements for the year ended December 31, 2009.

Source of Funds  
Contributions and grants 2,351,855
Interest and dividends 55,851
Delegation income 39,050
Unrealized gain on investments 19,205
Other 55
Realized loss on investments -8,930
Total Income $2,457,086


chart



Uses of Funds as a % of Total Expenses

Programs: 85%  Fund Raising: 6%  Administrative: 9% 

Total income   $2,457,086
  Program expenses $1,797,934
  Fund raising expenses 118,450
  Administrative expenses 194,509
 
Total expenses   $2,110,893
Income in Excess of Expenses   346,193
Beginning net assets   433,328
Ending net assets   779,521
Total liabilities   2,251,157
Total assets   $3,030,678


Back To Top

An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

Send to:



What is an Accredited Charity