Celebrating 10 years of enriching lives in EM countries

EMpower2010 Annual Report

EMpower is...supporting young people in marginalized communities worldwide.

Our MissionEMpower supports local organizations in EM countries that provide at-risk youth with the tools and resources they need to lead healthy, productive lives.

Our VisionWe believe that young people are a critical resource for every country. Our strategic investments in locally led organizations unlock the potential of young people to change their lives and world.

“Youngpeopleareliketreesthathaven’t finishedgrowingyet.Ifsomeoneguides us,givesusstrength,andmakessure we’resafe,thenwecanstrengthenour trunksandgrowtogreatheights.” Jessica, youth entrepreneur, Cusco, Peru

Dear Friends, Dear Colleagues,

And where are those differences most acute? In the opportunities facing young people. Depending on where you are born, you are either going to learn how to read, or not; you will know hunger, or not; you will be successful finding a job, or ignored because of where you come from. If you are a girl, you can dream about school, career, and having a voice in your life plans; or know that you have no choice but adolescent marriage and domestic servitude.

This year I had the opportunity to visit Zoto, one of our grantee partners in the Philippines. I was astonished at how, in the face of abject urban poverty in the slums north of Manila, young eager entrepreneurs armed with as little as $100 are forging a livelihood and sharpening their business skills thanks to ZOTO’s EMpower-funded youth entrepreneurship program.

We have made it our mission to look for organizations in emerging market countries that provide greater opportunities to their young people. Through direct grants to the most effective and innovative local organizations, EMpower builds on the knowledge of local leaders to solve their intractable problems, and partners with them through time to ensure that they are better able to carry out their work once they no longer receive our funding.

In 10 years we have granted over $7 million and touched the lives of thousands of young people. We have seen the resilience of youth in pursuit of a better life, and the

transformative power of attention, effort and learning. We have seen what a big difference we can make. During these ten years, EMpower has grown from a great idea shared by a group of concerned EM professionals, to an international organization with a professional staff, and committed Boards in the UK and the US, and a Hong Kong Board in formation.

In the coming years, we look forward to continued work with the Nike Foundation in fostering opportunities for adolescent girls and young women. We look forward to deepening our relationships with grantee partners all over the world, to hearing of the progress made by past grantees and to meeting new partners who will continue to carry out the important work of giving young people a chance.

Finally, we are eager to work with our devoted Boards, in the UK, US and now Hong Kong, with our stalwart Underwriters in all three geographies, and especially with all our supporters around the world who will ensure that EMpower continues to thrive for another 10 years.

With thanks for your vote of confidence and support,

I believe that there are a number of key reasons why the EMpower model is such a compelling proposition and why EMpower’s message resonates so well with supporters and grantee partners alike.

Engaged grantmaking: Last summer we published EMpower’s new handbook, It’s Her Business: Preparing At-Risk Young Women to Become Entrepreneurs which is geared towards local community-base NGOs and was funded by the Nike Foundation.

It provides ideas and training for our grantee partners in several languages. It helps make their programmes stronger and helps make our support even more effective. It’s the kind of engaged grantmaking that I am delighted to see EMpower lead…and what sets us apart from many other philanthropies.

Partnerships:Whether with grantees, donors, or with the Nike Foundation, we recognize that our success depends on close, professional ties and the recognition that we will be more effective when working closely in honest, respectful, mutually beneficial relationships with all our partners.

Dedicated board leadership: EMpower’s boards and underwriters are deeply involved – providing strong financial support, good governance and commitment

to the cause of helping disadvantaged youth through our grantmaking.

Committed staff: The EMpower team is small but leverages itself by being highly professional, experienced and productive. There has been virtually no turnover of EMpower staff and this is testament to their commitment and to the organisation’s culture of learning and contribution.

Dynamism: EMpower has responded to the huge needs and opportunities by growing very quickly. In 2011 the launch of EMpower Hong Kong means that this growth continues. I fully expect that in 10 years time EMpower will have a broader footprint, a stronger structure and a bigger impact.

We should all feel incredibly proud of what we have achieved at EMpower over the past 10 years.

If you want to help promote a vision where all young people can thrive whatever their circumstances then I invite you to join us for the next 10 years.

Warm regards,

It has been 10 years since EMpower started out with just a simple idea: to give back. That is, to channel resources generated by the EM financial sector back to the countries where they were produced. To acknowledge that while economic development is occurring at a macro level, there are still harsh disparities between people at the micro level.

Ten years of growth is a key achievement for any new organisation. EMpower has grown quickly over its first 10 years thanks to the commitment and dedication of EMpower staff and thanks to the tremendous support from friends and colleagues within our industry. But most rewarding of all is the knowledge that we have had huge positive impact on tens of thousands of lives amongst the most at-risk members of society.

Marta CabreraExecutive Director, EMpower Jonathan Bayliss

Chair, EMpower UK

EMpower is...connecting young people with opportunities to earn a better income.

EMpower works in EM countries to make grants to local organizations that have a proven record of successful service with young people.

We seek out grantee partners who demonstrate effectiveness and a true interest in learning and growth.

We aim to ensure the most efficient use of resources and to minimize bureaucracy at all steps along the way so that young people receive maximum benefit.

By providing support, we hope to help our partners expand their reach or improve their programs and services, and develop innovative new approaches.

Grantmaking

“It’snotaboutmoney; it’saboutpeoplelivingbetterlives.” Guido Mosca, The Rohatyn Group

We focus our grantmaking in four areas crucial to youth development in order to ensure that young people have access to the tools and resources to thrive:

Livelihoods preparing young people to earn a decent wage, through a micro-business of their own, or equipped with skills, confidence and links to access jobs in the labor force

Education making sure young people have access to schooling and training in 21st Century skills such as computers, an international language, and key life skills to thrive in a rapidly globalizing world

Leadership engaging young people in solving their communities’ problems: helping them see how they can make a difference and thus reinforcing their sense of self-worth

Health & Wellbeing ensuring that young people know how to stay safe and healthy, avoiding or managing risks that can have lifelong consequences (early pregnancy, HIV, addictions to tobacco or other substances etc.)

A Special Focus on Girls and Young WomenRecognizing that these young women are a power force for change, EMpower seeks out and funds strong local organizations dedicated to increasing opportunities for adolescent girls. In addition, EMpower promotes the widespread distribution of It’s Her Business: A Handbook for Preparing Young, At-Risk Women to Become Entrepreneurs, the guide we developed for use by practitioners of girl-focused programming. This practical manual covers the essentials of entrepreneurship training and support so organizations can better equip young women to be successful micro-

entrepreneurs, thus improving their standard of living and that of their families.

The Handbook is accessible online at http://www.empowerweb.org/ and at http://itsherbusiness.org/.

EMpower further spreads the message by participating in panels at international conferences on young women’s economic empowerment.

Through our continuing partnership with the Nike Foundation, EMpower works to address the particular inequities facing adolescent girls in EM countries.

EMpower works closely with its grantee partners to determine how best to strengthen their effectiveness.

Organizations often are interested in learning from others doing similar work, or accessing expertise in particular areas. Where possible, EMpower helps grantee partners through one or more of the following:

• Conducting workshops on specific topics regarding youth development

• Providing training materials or other resources

• Matching interns to NGOs

• Facilitating meetings with other NGOs or donors

• Creating partnerships among organizations based on shared interests and concerns

• Sharing best practices and lessons learned among organizations

• Providing feedback on strategies, program design or important funding proposals

Capacity Building

EMpower is...giving adolescent girls the chance to be in school.

The Learner’s Network Cape Town, South Africa

In South Africa, one in three girls will have had a baby by the age of 20. Lack of employment opportunities in ‘colored’ and black communities lead young women to seek out ‘sugar daddies’ for survival, further exposing them to health risks such as unplanned pregnancy, violence, and sexually transmitted infections including HIV. The Learners Network works to develop a cadre of young people who are informed and can influence their peers and others to turn the tide on key issues affecting youth such as HIV/AIDS, teen pregnancy, violence and drug use. Investing in youth as leaders has multiple benefits: it engages youth constructively and reinforces their sense of contribution and worth; it ignites a ‘can-do’ spirit that can lead to lifelong community engagement; and it provides community members with a positive image of youth to replace commonly held negative stereotypes.

“I know that there is this road where I live and every two months or so there will be a new girl who is pregnant. There was this thirteen year old who people thought was getting fat but they didn’t know that she was pregnant... she is a child having a child.” (Learner’s Network participant)

Investinginyouthasleadershasmultiplebenefits.

Doctors to Children St. Petersburg, Russia

Fortunately, Galina found MAMA+, a Doctors to Children (DTC) program for HIV+ mothers and children, and was referred to DTC’s Vocational Guidance Project. After vocational testing and counseling, Galina decided to become a hairdresser and to pursue the necessary training. She worried about how she’d be able to juggle classes, jobs and motherhood. By discussing her concerns with a DTC counselor, she was able to find a way to make it work. During her training, Galina displayed both enthusiasm and tenacity. Her clients praised her professionalism and attentiveness. Galina was offered an internship at the training center.

Things were also improving on the home front. Her newfound confidence helped Galina persuade her partner to get a job. She has created her own professional online portfolio which allows her to work from home.

*The client’s name has been changed to protect her privacy.

Galina* completed secondary school in the Leningrad Region but after graduation her life unraveled. She moved to St. Petersburg where she eked out a living doing odd jobs. Before long, she got pregnant. Shortly before the child’s delivery, she found out that she was HIV+. She moved in with the baby’s father who was then unemployed. Neither her parents nor his were able to help them raise a child and the baby risked abandonment.

Blue Dragon Children’s Foundation Hanoi, Viet Nam

Mrs. Diep, the Home’s Director, took in Vinh and his brother and gave them the opportunity to receive the education that they, and all children, deserve. When Vinh completed grade 12, his eyes were set firmly on university, and a sponsor was found to provide funding for his university fees and living expenses.Vinh has just finished his degree at the Ho Chi Minh City University of Computer Technology and secured a job with an American company in Danang, near his family in the Hoi An region in central Viet Nam.

His mother says, “This Home has saved my children.”

Vietnam’s Blue Dragon Children’s Foundation helped Vinh and helps others like him overcome the barriers to education and a promising future.

Vinh was just a small boy when he and his brother first turned up at the Hoi An Children’s Home of Blue Dragon back in 2003. His mother lived in the poorest village of the district, across the river from ancient Hoi An. The extremity of her poverty robbed her of the means to support her children.

“ThisHomehassavedmychildren.”Galina’sclientspraisedherprofessionalismandattentiveness.

Nishtha West Bengal, India

It helps organize villagers, providing education and health services where the government’s execution falls short.

Nishtha addresses some of the key causes and consequences of poverty – lack of education; lack of credit; and poor health – working closely with villagers so that its approaches are compatible with their realities.

The girls and women of Nishtha form groups to work together on community projects, pass along knowledge, and create lasting change.

“Nishtha saved my life. If I hadn’t come to Nishtha, my education would have stopped when I was nine years old. That’s not enough education in today’s job market. With the support and encouragement of Nishtha, I have made my mother understand that I need to continue my education.” – Muslima, age 15

Nishtha is the only NGO in its area, a rural area of West Bengal that addresses the critical development challenges facing women and girls.

“IfIhadn’tcometoNishtha,my educationwouldhavestoppedwhen Iwasnineyearsold.”

Luta pela PazRio de Janeiro, Brazil

Lynn Frieda’s Trip Report 22 March 2011

Complexo da Mare is the closest slum to Rio’s international airport, and the government recently erected a large wall beside the highway, built as a form of camouflage, alienating its inhabitants, so that tourists descending on the 2014 World Cup and 2016 Olympics won’t notice the poverty.

EMpower grantee Luta pela Paz, or Fight for Peace, is best known as a boxing club. In fact, it is much more: an academy providing a better future to at-risk adolescents lacking family structure, innocent bystanders to the life in which they

were born. The goal is to produce not only ring champions, but also ‘life champions.’

In 2000, Londoner, Luke Dowdney, founded the project with only 10 members enrolled in boxing and basic citizenship and education classes. Today there are over 1,000 enrolled at Luta between the ages of 7 and 29 (and a waiting list of over 200). Luta’s approach to breaking barriers is based on five pillars: sport, personal development & education, mentoring & casework, job training & work access, and youth leadership.

The participants must first and foremost be enrolled in school (if not, Luta will make sure they return to school, or in some cases, the organization will provide fast track education for those who have been out of school for more than 3 years), and then in their spare time, they can attend the sports programs, either boxing, capoeira, or wrestling. There are social workers, teachers, mentors, and even legal services. There are also youth leaders, a group of 10 young people who represent all areas of Luta, chosen by election or via a staff nomination, to help bridge the gap between the staff and young people.

One of Luta’s bright young stars is Roberto Custodio, who arrived at the age of 14, after a trafficker murdered his father. He is now 23 and is expected to be one of Brazil’s top boxers in the London 2012 Olympic games.

Leaving Complexo da Mare, I am struck by an overwhelming sense of community, the sounds of samba on the streets and the sight of children playing football. Less than two percent of the 135,000 inhabitants are involved in the drug trade. Nevertheless, many people suffer from senseless gun violence. While the challenges young people face in the favelas continue, Luta is experiencing great success, helping the less fortunate overcome the poverty and the divisions that life has bestowed upon them.

Lynn Frieda is a photographer and journalist who travels the world in search of great stories. She recently visited our grantee partner Luta pela Paz in Rio, Brazil. Lynn is also an EMpower supporter.

The Complexo da Mare is one of the largest and poorest of Rio’s 900 townships scattered across the city. Violence and drug trafficking play an everyday role in many people’s lives. Rio’s favelas, home to one in three of the city’s roughly 6 million population, are juxtaposed against the more wealthy neighborhoods and white sandy beaches of this bustling city, providing a surreal sense of prosperity to most visitors.

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Grants Approved in FY 2010

Organization Name Organization NameCountry Country

Africa

Amandla EduFootball South Africa

Etafeni Trust South Africa

Hoops 4 Hope South Africa

Ikamva Youth South Africa

Kudirat Initiative for Democracy Nigeria

The Learner’s Network South Africa

Asia

Aangan Trust India

Akshara India

Blue Dragon Children’s Foundation Vietnam

CAI (Talent) China

Compassion for Migrant Children (CMC) China

Dandelion School China

Friends for Street Children (FFSC) Vietnam

Jabala Action Research Organisation India

Navsarjan Trust / Dalit Shakti Kendra India

Parivaar Education Society India

VACHA Trust India

Vidhayak Sansad India

Women’s Education for Advancement & Empowerment (WEAVE) Thailand

Yunnan Youth Development Center China

Zone One Tondo (ZOTO) Philippines

Latin America

Asociación Colectivo Mujeres al Derecho Colombia

Asociación Minga Peru Peru

Center for the Adolescents of San Miguel de Allende Mexico

Centro Mujeres Mexico

Colectivo Integral de Desarrollo Peru

El Hombre Sobre la Tierra (HST) Mexico

Fundación Artistica y Social La Familia Ayara Colombia

Fundación Creciendo Unidos Colombia

Fundación Cruzada Argentina (FCA) Argentina

Fundación Cruzada Patagonica (FCP) Argentina

Fundación Reciduca Argentina

Futbol con Corazón Colombia

Grupo de Estudios sobre la Mujer Rosario Castellanos Mexico

Instituto Fazer Acontecer Brazil

Instituto Sou da Paz Brazil

Luta pela Paz Brazil

Puente a la Salud Comunitaria Mexico

Reprolatina Brazil

Russia and Turkey

Big Brothers Big Sisters of Russia Russia

Bolshaya Peremena Russia

Doctors to Children Russia

Mother Child Education Foundation (ACEV) Turkey

Youth Studies Unit Turkey

EMpower is...funding 73 organizations in 14 EM countries.

EMpower at a glance FY 2010 and FY 2009 Financial Statements

Grantmaking breakdown by region and portfolio

Education 32%

Health & Wellbeing

21%

Livelihoods 20%

Leadership 27%

Latin America

43%

Africa 9%

Russia & Turkey

15%

Asia 33%

Funding breakdown by sources and uses

55%Individual

21%Corporate

24%CorporateFoundation

87%Program

9% General & Management

4% Fundraising

Statement of Financial Position* As of June 30, 2010 EMpower US EMpower UK Total FY 2010* Total FY 2009*AssetsCash and Cash Equivalents 922,074 1,264,666 2,186,740 1,214,545Accounts Receivable - 122,509 122,509 585,757Unconditional Promises to Give Unrestricted 151,780 - 151,780 134,202 Restricted to Future Programs/Periods - - - 405,000 PrePaid Expenses 10,397 - 10,397 17,239 Property, equipment and website, at cost, net of accumulated depreciation and amorts 21,948 - 21,948 31,387Security Deposit 6,413 - 6,413 6,375

Total Assets 1,112,612 1,387,175 2,499,787 2,394,505

Liabilities and Net Assets Accounts Payable and Accrued Expenses 53,553 4,980 58,533 276,790 Grants Payable 364,000 383,000 747,000 458,350

Total Liabilities 417,553 387,980 805,533 735,140

CommitmentsNet Assets Unrestricted 161,220 934,239 1,095,459 526,503 Temporarily Restricted 533,839 64,956 598,795 1,132,862

Total Net Assets 695,059 999,195 1,694,254 1,659,365

Total Liabilities and Net Assets 1,112,612 1,387,175 2,499,787 2,394,505

Statement of Activities* Year Ended June 30, 2010

EMpower US EMpower UK Total FY 2010* Total FY 2009*Changes in Unrestricted Net AssetsSupport and RevenueContributions 672,741 1,628,666 2,301,407 2,081,848Event Income 215,480 451,220 666,700 47,117Less: Direct Event Expenses (62,425) - (62,425) 27,234Donated Services 47,966 - 47,966 36,500Grant Administrative Fee 222,021 (222,021) - -Refundable Grants Awards 35,750Interest 1,138 70 1,208 8,090 1,096,921 1,857,935 2,954,856 2,551,539

Net Assets Released from Restrictions 599,023 - 599,023 562,562

Total Unrestricted Support and Revenue 1,695,944 1,857,935 3,553,879 3,114,101

ExpensesProgram Services 1,586,787 952,847 2,539,634 2,402,888Supporting Services Management and General 165,713 134,517 300,230 283,172 Fundraising 80,103 - 80,103 158,481

Total Expenses 1,832,603 1,087,364 2,919,967 2,844,541 Increase (Decrease) in Unrestricted Net Assets (136,659) 770,571 633,912 269,560

Changes in Temporarily Restricted AssetsContributions - - - 396,153Net Assets Released from Restrictions (599,023) - (599,023) (562,562)Decrease in Temporarily Restricted Net Assets (599,023) - (599,023) (166,409)

Increase (Decrease) in Net Assets (735,682) 770,571 34,889 103,151Net Assets, Beginning of Year 1,430,741 228,624 1,659,365 1,882,252

Net Assets, End of Year 695,059 999,195 1,694,254 1,985,403

* EMpowerUK and EMpowerUS are two legally separate institutions. They have been aggregated here to illustrate the breadth of EMpower’s global operations.

“EMpowerinvestsinthelongterm;they sponsorprojectsthathavepayoffsnot justtoday,butalsonextweek,nextyear andhopefullyinthenextdecade.” Tom Cooper, GMO

$250K + Nike FoundationSpinnaker CapitalBradley Wickens

$100K + Ashmore FoundationLiquidity Finance

$50K + Barclays CapitalEmerging Markets Ball LondonGeorge EstesGuillaume FonkenellGramercy AdvisorsJules GreenGuido MoscaClaude MarionTPCG ValoresHelene Williamson

$25K + Credit Suisse Securities (Europe)Eric DannheimMoctar FallFinisterre Capital LLPKay HaighJP Morgan Chase FoundationMetage Capital Ltd.Upender RaoRichard WalshYahoo!Veronica & Lars Bane

$10K + David and Maryellen BasileJonathan BaylissAndres BorregoBTIGPeter ClarkTom CooperJames DonaldKeith and Jeanne GardnerRupert HopeKathleen KinsellaChristian KopfMurali KrishnaNikos MakrisPaul and Caroline MascoThe Rohatyn GroupParvoleta ShterevaBernt TallaksenJames ValoneJed WeissGareth WilliamsPaco YbarraKarim and Nadia Zahmoul in the name of Claudine ZahmoulVincenzo Zinni

$5K + Anonymous (2)Ayo AkinluyiBank of America Merrill LynchMarc BalstonPeter BartlettEric BaurmeisterPedro BeroyJoyce ChangXavier Corin-Mick

David DaliJorge EirasEurasia GroupExotixAlexis & Anne-Marie HabibJames HealyHelios Capital Management Pte. Ltd.Michael Hirschhorn & Jimena MartinezSteven LeiningerKen LockyerMichael MarreseColm McDonaghJamie Nicholson-LeenerGreg NowitzManos PapatheofanousMatthew RyanMichael SchoenArthur and Carrie SteinmetzChristopher WilderAlex Williamson

Up to $5K + Anonymous (4)Darren WalkerRobert EnserroMichael HugmanPete VohmannKerim AcanalAlberto AgrestPatricia AhnOmer AkyolAlec AlensteinJonathan AmackerAlyce Andrews

Ahmet ArincKhalid AtaullahJohn and Allison AzzaraPatrick BauneAlex BarcinskiFrancis BeddingtonPatrick BeeleyMichael BelleroSylvia BigioRafael Biosse DuplanAdam BorneleitLarry J. BrainardPeter BuettnerArthur ByrnesEva CabreraMarta CabreraNena CabreraTxiki CabreraMartin CameoCarlos CarballoFrank CarrollConstance CannonTanya Ceccarelli and Rafael Borja Sampiero Kristin CevaMarc ChouchaniPablo CisilinoJeff Clifford, Anglo American Charitable FoundationFaustino CortinaJim CraigeMichel DanechiJoseph DayanCristiana DeAlessiMark Dewing-HommesRichard Deitz

S J DochertyVielcka DuttMatt EdwardsF S EgeliSteve EllisElm Green Preparatory SchoolAntoine EstierCornelie Ferguson, The Kilfinan TrustIgnacio FernandezTomas FialaSam FinkelsteinTom FlanaganBeth FredrickJosh FriedmanRobin ForrestRyan Foss-SkiftesvikSean Foss-SkiftesvikSarvenaz FouladiLuciana GalanMatthieu GervisIgnacio GomendioGeorgy GrigoriyantsAlex Gutierrez and Lucia SkwarekRandolph HabeckHardy FamilyPrudence HardyHenry HallPhilip HamiltonAngella and Richard HeathGunter HeilandHelios Advisors LLCDiego HerreraMohan HiraMike HodgsonRichard HolbrookRupert HopeRobin HubbardImran HussainAlex InnFaisal Irfan MianJai JacobNadya & Eric Jayaweera

Tim and Susan JensenEmrah KagitcibasiJean KaroubiSteffen KastnerJonathan KellyRaj KeswaniTanya KhotinEric KlodnickiReinhold KnappGerard Koeppel and Diane Connal Koeppel Nidhi KohliBurcu KorkutLucie KucharovaPolina KurdyavkoRob KushenCarey LathropDavid LeeMike LekanDonald and Nan LeitchDeborah LiebermanDavid LuceyJose Luengo CabreraBob MacDonaldAndrej MachacekPedro MarionJorge MariscalMartin Guillermo MarronEmmanuel and Jenny MartínezDavid MaslinCharlotte McBrideIan and Jenny McAllister-NevinsCraig McCauleyMichael McGowanAziz McMahonPaul McNamaraFarhang MehreganiLev MikheevDaniel MillerRenee Miller & Steve ZemanStefanie and Norman MilnerTimothy MoeRicardo MoraJennifer and Dan Mullineaux

Maurice NadjarAli NaqviMr. and Mrs. Bill NemereverMazen NomuraLuis OganesPavel and Kimberly OlivaDavid OliverSadi OzgurHusnu OzyeginAlbert ParkSanjay PatelJorge PepaHillary PeruzziGreg PiccininnoMinnel PorterRobert L. RauchKathryn RectorDarren ReissSabrina RicciMatias RingelHenry RitchotteJames and Lisa RocheManuel RodriguezDavid W RolleySonia RosenbaumCarlos Ruiz de GamboaJeffrey SadowskyGuy SaidenbergVictor Manuel SanchezAndreas Schenk CaviezelBruce SchoenfeldMichael SeltzerFederico ShawHakan SofuogluPeter SpringJon SquirrellMiles StaudeEddie and Fiona SteelOzan TarmanMatthew TorreyBart TurtelboomDean TylerEduardo VieiraBernado Villela

Matt VogelAlex Von SponeckKalpesh SuchdevChristopher WatsonMary Nell WegnerRobin WilsonLewis WirshbaNigel WhittakerTim WhymanHarry WoolJulio Zamora

Corporate Matching Citigroup Deutsche Bank Jefferies Merrill Lynch Payden & RygelSorosTudor UBS

FY10 AthletesPaul CookeXavier Corin-MickRichard DeitzJoe DelvauxPhilip HamiltonPaul HammettMike LekanCharlotte McBrideVittorio RivaOzan TarmanBradley WickensAlex WilliamsonVincenzo Zinni

In Kind DonationsSpinnaker CapitalCannon CommunicationsInVision CommunicationsJay Matt ProductionsOceanBarefoot

Our DonorsThank you for believing in our work

FY 2010 Underwriter

United KingdomJonathan Bayliss, Chair Marta Cabrera, EMpower, Secretary Eric Dannheim, Moore Europe Capital ManagementRafaël Biosse Duplan, Finisterre CapitalKhadijah Fancy, Philanthropic AdvisorPhilip HamiltonAngella HeathLucy Lake, CamfedNikos Makris, Macro Synergy PartnersMaurice Nadjar, Barclays CapitalOzan Tarman, Deutsche BankBradley Wickens, Spinnaker CapitalGareth Williams, NomuraHelene Williams, F&C Asset ManagementKarim Zahmoul, Barclays CapitalVincenzo Zinni, Credit Suisse, Treasurer

United KingdomLucie Kucharova, UK Operations Manager

Hong Kong(In formation)Ali Abbas Alam, Credit SuissePaul Angwin, People and Planet, Grants Committee ChairMarta Cabrera, EMpowerMaddy Foo, BTG Pactual, Treasurer and SecretaryNeil Harvey, Credit Suisse, ChairMonica Hsiao, CQS

United StatesAlec Alenstein, Eurasia GroupAndres Borrego, Credit SuisseMarta Cabrera, EMpowerJoyce Chang, JP MorganPeter Clark, The Rohatyn Group, Vice ChairJames Donald, Lazard Asset ManagementGeorge Estes, Grantham, Mayo & Van OtterlooMoctar Fall, Private InvestorBeth Fredrick, Johns Hopkins Bloomberg School of Public Health, TreasurerMichael Hirschhorn, International Human Rights FundersRupert Hope, Deutsche BankRaj Keswani, Ashmore GroupKathleen Kinsella, Royal Bank of ScotlandRobert Kushen, Open Society Institute, Secretary and Program Committee ChairGuido Mosca, The Rohatyn Group, Vice ChairMichael Seltzer, Philanthropic AdvisorJed Weiss, Fidelity Investments

United StatesMarta Cabrera, Executive DirectorVirginia Dooley, Program Officer for Africa, Russia and TurkeyJulian Liu, Program Officer for AsiaAndrea Lynch, Program Officer for Latin AmericaEmerie Snyder, Operations AssociateCady Staats, Development AssociateCynthia Steele, Executive Vice President

United KingdomThe Ashmore FoundationJonathan BaylissDriss Ben-BrahimCiti, EM GroupCredit Suisse, EM LondonDeutsche Bank Finisterre Capital LLPNikos MakrisSpinnaker CapitalVTB CapitalHelene Williamson

Underwriters * Board *

Staff *

We are very grateful for the multi-year funding of our operating expenses provided by our underwriters. They allow all other individual contributions to be deployed 100% to grantmaking.

100%ofallindividualdonationsgoestograntmaking,thankstoourunderwriters.

United StatesBarclays CapitalCiti, EM GroupPeter Clark & Guido Mosca, The Rohatyn GroupTom Cooper & George Estes, GMONicholas Cournoyer, Montpelier Investment ManagementCredit Suisse, EM GroupMoctar FallKeith and Jeanne GardnerGramercy AdvisorsJP Morgan Chase FoundationUpender RaoTPCG Valores

Hong Kong(In formation)BTG PactualCQS Asset ManagementNeil Harvey, Credit Suisse

*As at April 2011

EMpower – The Emerging Markets Foundationwww.empowerweb.org

facebook.com/empowerweb twitter.com/empowerweb

Hong KongEMpower HKIRD Registered Charityempowerhk@empowerweb.org

LondonEMpower UKCC #: 1118916empoweruk@empowerweb.org

New YorkEMpower USEIN #: 03-0529005empowerus@empowerweb.org