2011 annual report final (1)

7/31/2019 2011 Annual Report Final (1)

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2011 Annual Report

eliminate poverty

NOW

Executive Letter

Since its founding in 2010, Eliminate Poverty Now has made great progress. In 2011, our first full year of operation, we funded 7 projects in 3countries, sharpened our strategic focus, and greatly increased ourcapacity to get work done.

The mission of Eliminate Poverty Now is to teach skills and createopportunity that enable hard working people in sub-Saharan Africa,especially women, to lift themselves out of extreme poverty. Much of ouractivity is focused in rural areas, because thats where most of the extremepoor live. And much of our activity is agricultural based, because farmingis primarily what people in rural areas do.

When choosing project initiatives, our strategy is to address local needsand local opportunities as identified by the communities themselves. Weidentify trusted partners on the ground to work with. We empower peopleby giving them skills and opportunity to help themselves. And we focus onthe ability to generate sustainable results. Our philosophy is to start smalland go slow, to measure results and to learn from mistakes. We look toexpand only those projects with demonstrated ability to create positive,sustainable impact.

It isnt easy. The challenges of creating sustainable development in Africaare well documented: a low skill base, lack of infrastructure, lack of financial resources and small local markets. Throw in periodic politicalinstability and the vagaries of climate change and you get the picture.


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Executive Letter (page 2)

But progress can be made. Well highlight several of the promising projects

were funding in this report.

Over the last year, Eliminate Poverty Now has also made substantialprogress in our capacity to get work done. Some of this reflects asignificant increase in our financial resources as detailed in the financialsection. But much reflects our success in tapping people with the skillsrequired to support our activities. In particular, we established an

Advisory Committee of four highly respected experts with over 100 yearsof development experience to help guide our work. Virtually all oursupport group is volunteer and our Board of Directors has committed tocover the modest administrative expenses we incur. As a result, we canproudly say that 100% of all public donations go to support project work in Africa.

As co-founders of Eliminate Poverty Now we are proud of what theorganization has accomplished in a relatively short period, and optimisticabout our ability to make a lasting, positive impact on peoples lives. Wehope you enjoy reading about our progress in these pages and will work hard to earn your trust and support.

John and Judy CraigCo-Founders, Eliminate Poverty Now


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2011 Annual Report

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2011 Grants by Country

Niger$83,393

Benin$21,000

Kenya$9,124


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Total Grants:Historical and Projected


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Promoting Economic Opportunity and EducationIn Benin: Songhai Womens Capital Fund

Objectives Partner with the Songhai Center, one of

Africas premier agricultural vocational

centers, based in Benin. Leverage and enhance Songhais abilityto attract and train talented youngwomen to become agriculturalentrepreneurs.

Provide low interest loans to womenwith the most promising business plansto commercialize their ideas.

Create dozens of role models of whattalented women can do given the proper

training and opportunity.

Results to date Eliminate Poverty Now has committed

$20,000 per year for 5 years to create a$100,000 revolving pool of capital.

Songhai has created a high level steeringcommittee to administer the program.

Program successfully publicized. 15initial applications reviewed. 8 low interest loans from $1,000-$5,000

have been made. Songhai will provide on-going technical

support to loan recipients to maximizethe chances of commercial success fortheir ventures.

The Program: A partnership with the Songhai Centerto enable talented women graduates to start theirown businesses.


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Promoting Economic Opportunity and EducationIn Niger: Womens Elevage

Objectives Provide low interest loans to women to

purchase breeding stock of sheep.

Women breed the sheep, keep theoffspring to start their own flock, thensell the adults to repay the loan.

As loans are repaid, funds are recycled toadditional women in the community.

Once their own flock is established,women retain 100% of the profits fromsale of their sheep.

Results to date Pilot program established with 20

women in the village of Gonzare, Niger. Women trained in proper techniques for

raising sheep. Veterinarian contracted to provide on-

going technical support. Women purchased breeding stock of 50

sheep with their low interest loans. Results tracking on plan:

19 lambs surviving from the firstbreeding.

After second breeding, women willbegin selling the original sheep torepay their loans.

The Program: Women in rural villagesearn income raising and selling sheep.


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Grants by Country:Historical and projected


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Promoting Economic Opportunity and EducationIn Kenya: RockPads

Objectives

To remove one of the obstaclesthat prevents teenage girls from

attending and completingsecondary school. To provide a cost effective sanitary

pad for adults in Nairobi andsurrounding areas.

To create a source of income forthe women who produce and sellthe pads.

Results to date Reusable sanitary pads are being

produced by parents at the Little RockSchool in Kibera, Kenyas largest slum.

The prototype was consumer testedalong with competitive products tooptimize product design.

Product is being distributed free to 200girls in Kibera in combination with classeson sex education and genderempowerment.

Product will be sold for profit to womenin Kibera and surrounding areas.

An executive MBA team from St. MarysCollege in California developed a businessplan to help guide the for -profit

business.

The Program: Produce and distributereusable sanitary pads in Nairobi, Kenya.


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2010 % 2011 %Contributions $35,998 $300,353Investment Income $49 $7,916

Total Revenue $36,047 $308,269Grants Paid $16,877 90.39% $113,517 96.90%Overhead and Administrative Expenses* $1,795 9.61% $3,636 3.10%

Total Expenses $18,672 100.00% $117,153 100.00%Revenue less Expenses $17,375 $191,116

*The Board of Eliminate Poverty Now pays all Overhead and Administrative expenses.

Financial Results


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Thank you to the following volunteers and organizations whose contributions of hours and in-kind donations made our 2011 donations go so much further.*

Eliana ArianEllen ArianBarely Concealed NarcissismPete BrachDay Pitney LLPKasi DeanBob DeNataleAnna DruryFabri-Quilt Jocelyn Gilman Judy GrationGoogle, Inc. Juniper DesignsDiane Klein

*We deeply regret any accidental omissions and hope you will let us know so that we can correct this.

Harriet and Sam LapkinDebbie LeonLunapadsMarilyn Rose DesignThe MDE GroupA.E. Nathan CompanyAdar NetefNew Jersey Jewish NewsPhilosophy IBSt. Marys College Stephen TavaresVicky TrueMatt TwomeyPeter Wentworth

Susan Werk

Our Valued Friends


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We are deeply grateful to thefollowing individuals. Their involvement

makes Eliminate Poverty Now possible.

Board of Directors

John Craig, PresidentBecca Nelson, Vice PresidentLiz Craig, Secretary/TreasurerJudy CraigRich FinkelsteinEric Nelson

Larry SamuelsMargie Samuels

Advisory Board

Yitzhak Abt

Rustom MasalawalaPete OndengDov Pasternak

2011 annual report final (1)

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