CARE USA 2009 Annual Report: Signs of Change by CARE

CARE USA

ANNUAL REPORT

CARE’s work spans the globe and touches someone’s life in one way or another at every single moment of the day. Our story can be told as many different ways as there are people to tell it. But we need a common language, something with universal meaning:

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Facts | p.20

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06 Investing in Women and Girls

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08 Making the Connection

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10 Creating Change

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12 Sustaining Change

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14 The Value of Partnerships

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18 Reflecting on Our Work

Thank you | p.22

Map | p.24

Presidentâ&#x20AC;&#x2122;s Letter/Board of Directors | p.26

Contents

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04 Why Equality Matters

Financials | p.28

CARE Annual Report 2009 â&#x20AC;˘ p. 3

If everyone started from the same place on the path out of poverty, CARE wouldnâ&#x20AC;&#x2122;t need to focus on women and girls. But thatâ&#x20AC;&#x2122;s not the case. The societies that lag furthest behind are those where laws and traditions hinder womenâ&#x20AC;&#x2122;s empowerment.

percent of the world’s women who cannot get bank loans. 1

“The most important determinant of a country’s competitiveness is its human talent – the skills, education and productivity of its workforce. And women account for one-half of the potential talent base throughout the world. To maximize its competitiveness and development potential, each country should strive for gender equality – that is, to give women the same rights, responsibilities and opportunities as men.” — World Economic Forum Global Gender Gap Report, 2009

percent of the world’s illiterate adults who are women. 2

percent of the world’s poorest people who are female.

percent of the world’s children out of school who are girls.

CARE WORKS TO LIFT THE WEIGHT OF INEQUALITY SO THAT EVERYONE CAN LIVE UP TO HIS OR HER POTENTIAL.

ADD ALL THIS UP, AND IT’S CLEAR: Women and girls are the largest group facing systematic discrimination and marginalization in the world. We cannot advance as a planet and a people when half of us are treated as inferior, kept from reaching our potential and denied the opportunity to contribute to society. 1. United Nations Development Programme. 2. UNESCO Institute for Statistics. 3. UNESCO Priority Gender Equality Action Plan, 2008-2013. 4. UNESCO Education for All Global Monitoring Report 2009.

CARE Annual Report 2009 • p. 5

When women and girls are doing well, those around them are too. So when CARE focuses on women and girls, it’s not to the exclusion of men and boys – it’s a strategy to accomplish more with our work in a community.

G t t p p r c l k p a

PATHWAY TO EMPOWERMENT

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Girls are powerful, both for what they contribute to their families in their youth, and for their unlimited potential as mature women. Our plan, Pathway to Empowerment, reaches girls and women at three crucial turning points in their lives: when acquiring skills and knowledge in the classroom, when pregnant or nurturing an infant, and when earning their own living.

CARE’s substantial, long-term programs and partnerships address critical factors in the lives of girls and women that affect their ability to learn, raise healthy children, and support themselves and their families. In this way, we help girls and women become even greater than they would be otherwise.

POWER WITHIN

MOTHERS MATTER

ACCESS AFRICA

It starts with education. An educated girl is more

Today’s girl is tomorrow’s mother. Far too often,

In many developing countries, a woman can work

likely to earn a greater income and be influential in

however, what should be a joyful event – the birth

from sunrise to sunset and still not earn enough to

her community. Her self-confidence grows and she

of a child – becomes a tragedy. More than half a million

meet the basic needs of her family. But what can she

believes that, by her actions, she can help shape her

women needlessly die each year from complications

do? In countries with little or no industry, private

own destiny and that of others. She also is more likely

related to pregnancy and childbirth. In most

sector jobs are exceedingly scarce. So she must create

to raise a smaller family, have healthier children and

industrialized nations, the lifetime risk of a woman

her own opportunity – and that requires both money

send those children to school. CARE helps vulnerable

dying in childbirth is 1 in 10,000. That risk for women

and support. CARE works with communities to help

girls stay in school and build their leadership skills.

in sub-Saharan Africa and parts of Asia can be as high

them form their own savings and loan associations,

Girls truly have the power to change our world, and

as 1 in 7. It is time to recognize that we will not make

where members can borrow money and learn skills to

girls’ education provides perhaps the single highest

progress against poverty as long as women are dying

start or expand their businesses. The result? Millions

return on investment in the developing world.

in their most productive years of life.

of women gain the means to lift themselves, their families and their communities out of poverty.

CARE Annual Report 2009 • p. 7

The conjunction “and” represents the holistic nature of CARE’s work. We understand the connection between education & food, income & the environment. We also understand the relationships between men & women, parents & children, citizens & policymakers. Our programs work to make the most of these vital connections.

CARE isn’t a single issue organization, because people don’t live single-issue lives. We work alongside communities as they tackle diverse but related threats, such as climate change, hunger and emergencies. Over the years, we have come to understand how one problem exacerbates another, and how one response can resolve a host of related issues. As CARE works to empower women and girls, we also must help them provide for their most basic and urgent needs, and cope with their ever-shifting surroundings. Girls must have adequate food if they are to learn and lead. Pregnant women and new mothers require special support in the aftermath of earthquakes, floods and other disasters. Women farmers need help adapting to the effects of climate change. With those realities in mind, CARE makes it a priority to help women and their communities cope with climate change, hunger and emergencies.

CLIMATE CHANGE

FOOD SECURITY

EMERGENCIES

A woman’s hard work can ultimately be fruitless

Women and children make up the majority of

Emergencies disproportionately affect poor

if her livestock is killed by drought or her crop

the world’s chronically hungry people. In many

communities, where people tend to live in

is ruined in a flood. Poor communities need help

undernourished populations, men eat first – while

unprotected coastal regions, steep hillsides,

adapting to new and harsher climate conditions

women and children eat smaller amounts or are

poorly built urban neighborhoods or other

– conditions that were caused in large part by

left with the least nutritious food. CARE works to

susceptible areas. The vast majority of natural

developed countries. CARE is advocating for a

alleviate hunger for all people by implementing

disaster deaths occur in developing countries.

comprehensive global effort to reduce emissions

programs that address the root causes of hunger

Climate change, population growth and

and help vulnerable communities – especially

and food insecurity. Whenever possible, we source

environmental degradation will likely only

women – cope with climate shocks. Women

food locally, which saves time and transportation

intensify the devastation. CARE’s emergency

shoulder the greatest burdens of climate change

costs. So girls – and boys – have the energy they

response and preparedness programs place an

and are best positioned to help their families adapt.

need for school, and women – and men – can

emphasis on the special needs of girls and women,

continue working to lift themselves out of poverty.

including pregnant women and new mothers.

p. 8 • CARE Annual Report 2009

MAKING THE CONNECTION

CARE Annual Report 2009 • p. 9

In CARE’s six decades of experience, we have come to see how the wellbeing of girls and women is the foundation for vibrant, healthy societies. Even seemingly small changes can have a profound impact on a woman’s or a girl’s ability to help herself, her family and her community.

“EVERY GREAT DREAM BEGINS WITH A DREAMER. ALWAYS REMEMBER, YOU HAVE WITHIN YOU THE STRENGTH, THE PATIENCE AND THE PASSION TO REACH FOR THE STARS TO CHANGE THE WORLD.” — HARRIET TUBMAN p. 10 • CARE Annual Report 2009

Change presents both opportunity and uncertainty. CARE’s goal is to help communities create change in ways that unlock the benefits for all.

Here’s how it works for Mihayo Mangombe, one of more than 1.6 million people in Africa who benefit from CARE’s savings-led approach to microfinance.

Mangombe lives in Luguba village in Tanzania, where CARE has put into place our flagship village savings and loan groups. Members pool their modest savings, then individuals borrow funds to start or sustain small businesses. Money is also set aside in a community or social fund, providing a much-needed safety net for their neighbors. Even though they have so little themselves, these groups are reaching out to help the poorest of the poor – families who are caring for someone with a disability or illness or, like Mangombe, have lost a breadwinner. Mangombe takes care of 11 children, two of whom are her grandchildren. Her husband died six years ago, and money is always tight. In the past, she struggled to feed and clothe her large family. Now she receives aid from her savings and loan group, and also borrows money to generate a bit of income. “During hard times, I am able to access loans,” she said. “I borrow 10,000 shillings (about $8.00) to buy fish. I fry it, sell it and make a profit of 3,000 shillings ($2.50). I borrow often but repay it as soon as I can so that I can access money again and again.” These groups are virtually the only way women such as Mangombe can access loans because rural villages in Tanzania have no formal financial or banking structures. CARE has found that the answer in many parts of Africa is not necessarily to bring banks or microfinance institutions to poor communities, but instead enable people to form their own, sustainable savings circles. Savings and loan groups are run by participants based on rules they draw up themselves. Members give the groups names such as Urafiki, meaning “friendship” in Swahili, or Mwanzo Mgumu, which translates as “difficult beginning,” reflecting how hard it is to start saving when you are just scraping by. Women are the first to reap the benefits. They can participate even if they cannot read or write. Collateral is not required and members tend to be their friends and neighbors. As primary members of the village savings and loan groups, women receive training, enjoy support from other members, earn their own income and invest in what matters most to them. And the advantages spread throughout the community as increased family income leads to improvements in areas of health and education. Members of the savings and loan group in Luguba village contribute the equivalent of 35 cents a month, and once a year they organize a village-wide fundraiser, raising as much as $550 at one time. The social funds are available to anyone in the community – not just members of the savings groups. Says the chairman of the Luguba group: “We see this as a way of being merciful to others who are in need. Life is a gift and it is our responsibility to share this gift with those who are less fortunate than us.”

CARE Annual Report 2009 • p. 11

CARE unites. We convene. Build bridges. Bring people to the table. Because the power of the movement grows exponentially when we work as a group, speak with one voice and combine our strengths. Together, we can be a force for change.

We know that the causes and consequences of poverty are numerous, complex and intertwined. That’s why CARE takes a multifaceted approach to help create lasting change in poor communities. Our work shapes public opinion and influences the practices of entire nations, including the United States. Last year was a year to think big – and we did. With a new administration in the White House and many new members of Congress, CARE and our supporters were deeply engaged in influencing policy on many of our priority issues, including maternal health, economic development, global hunger, violence against women and climate change.

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We are proud of our accomplishments this year. Members of Congress, the media and peer organizations visited CARE’s work around the globe as part of our efforts to strengthen support for improved policies and increased funding for maternal health in the developing world. CARE’s report, “Microfinance in Africa: Bringing Financial Services to Africa’s Poor,” showed that at a time when many are reeling from the worldwide economic crisis, there still is a path forward for the poor. We shared CARE’s new “Knowledge on Fire” report on the critical role of girls’ education in Afghanistan with key members of Congress and the administration.

A record number of dedicated advocates joined together at the 2009 National Conference and Celebration in Washington, D.C., in May. Well over 500 participants spent a day on Capitol Hill, where they educated their members of Congress about CARE’s work and steps the United States could take to make significant gains in the fight against global poverty. We advanced the development of a far-reaching food-security policy by bringing our experience and knowledge gained in the field to the halls of Congress. Our suggestions were incorporated in a landmark

document from the U.S. Department of State, marking the first time the U.S. government has laid out a comprehensive approach to address the underlying causes of hunger and undernutrition. Whether we’re working to improve maternal health care or remove barriers to girls’ education, or voicing the concerns of poor and marginalized people and their communities, CARE is a critical partner, making progress and supporting an agenda of empowerment for all.

CARE Annual Report 2009 • p. 13

When we merge our strengths with those of our partners, we can make great progress. There’s an African proverb that captures the essence of CARE’s approach to partnerships: “If you want to go fast, go alone. But if you want to go far, go together.”

At CARE, we are on a path that extends far beyond traditional corporate philanthropy because we believe that effective partnerships within the private sector are an essential part of finding solutions to complex global challenges. What do we mean? Beyond their philanthropy, multi-national corporations have the ability to develop pro-poor business models. We believe that by working with corporations, CARE can influence and enhance socially responsible behavior in businesses that operate in countries where we work. In this way, our corporate partners help build a world where all people live in dignity and security. This year, we traveled new distances with our corporate partners as they engaged their customers and employees, applied their technical expertise, and used their influential voices to make a positive impact in developing countries around the world. Cargill continues as a premiere Alliance-level partner, creating new business and educational opportunities for rural communities in seven countries. Walmart is helping us increase business opportunities for young women in India, Peru and Bangladesh and rallying the support of their domestic and international employees. General Mills extended their international philanthropy into the hearts and homes of U.S. women with the launch of Join My Village, an online community that connects women in the U.S. with women and families in Malawi to make real change through small actions. The Coca-Cola Company is helping us provide access to water and sanitation services in eight countries across Africa and Latin America. Gap Inc. is working with CARE and other partners through its Gap Inc. P.A.C.E. program, which provides female garment workers in Asia with life, literacy and leadership skills. The Nike Foundation and partners are bringing nuanced field research techniques to measure the social impacts of investing in adolescent girls in Burundi. Oracle is supporting science, math and technology

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education in India and Brazil through the use of Internet platforms and employee volunteers. UPS is contributing the time and expertise of its senior logistics experts to innovate the mechanisms behind CARE’s emergency responses, enabling us to better deliver aid. Credit Suisse is partnering with CARE through its Global Education Initiative to improve the quality of education for marginalized girls in the Andes region of Peru and pastoralist communities in Tanzania. Meredith Corporation amplifies our voice by sharing CARE’s message of empowerment with millions of their readers through creative partnerships with publications like More Magazine, Ladies’ Home Journal and Parents. And, through innovative programs with corporate women’s leadership groups, and partnerships with national women’s organizations, CARE has demonstrated the power of creating a global woman-to-woman connection. CARE also is increasing the impact of our corporate partnerships through alliances with the U.S. government and strategic engagement with multilateral development banks. The convening power, policy influence and expertise of the U.S. government and multilateral development banks complement the market-based approaches of our corporate partners. Together, they enhance CARE’s capacity to tackle the underlying causes of poverty. For example, through the Power to Lead Alliance, CARE, United States Agency for International Development, Cargill, Oracle and the Vodafone Foundation are promoting leadership among girls aged 10-14 in vulnerable communities in Egypt, Honduras, India, Malawi, Tanzania and Yemen. Additionally, as climate change and the food crisis threaten livelihoods around the globe, CARE and the World Wildlife Fund have formed a strategic alliance to break the linkage between poverty and ecosystem degradation. Our collective expertise, global reach and advocacy links pro-poor, women-centered development to sustainable, just and equitable resource use. CARE is not alone in our quest to develop innovative and extensive partnerships. We are pushing past the traditional approaches to corporate philanthropy and donor funding to look far down the road at the significant results that we know are within reach.

CARE Annual Report 2009 • p. 15

We see signs of a brighter tomorrow. Join us at care.org

The fact is, no one has solved the planet’s big problems. Yet. That’s why CARE keeps asking the tough questions and pushing ourselves to learn from our experience, sharing knowledge with others and testing new ideas for creating sustainable change.

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“LIFE’S MOST PERSISTENT AND URGENT QUESTION IS: WHAT ARE YOU DOING FOR OTHERS?” – MARTIN LUTHER KING JR

we ask ourselves, how can we do our work better? We know we are helping millions of people live better lives. But we won’t be satisﬁed unless we know those improvements will stand the test of time.

Yes, we work with women and girls. They are at the heart of our strategy, and we intentionally design our programs to involve and benefit them. But empowerment is so much more than this. How can we ensure that the work we’re doing is truly creating long-term change in their lives and in the lives of their families? CARE staff in Nepal debated this question for hours, examining a project focused on the economic and political empowerment of rural indigenous women and girls. Such questions and conversations are echoed around the world as CARE’s staff and partners reflect on our work and identify ways to improve it. We are challenging ourselves to ask difficult questions such as: How are issues of social justice and power dynamics being addressed? Did the most marginalized and excluded people benefit from our work? Will our efforts be sustainable? These are not easy questions, but they capture the heart of our work and allow us to critically examine the quality as well as the results. In Mali, answers to such questions have directly improved individual projects, broader programs and overall country strategy. Staff found that their empowerment strategies are a key strength and identified ways to leverage this to create greater coherence across all their programming. They also decided to focus on partnership as a priority for the coming year and have developed new ideas to foster collaboration. What works in Mali will be shared with other countries in West Africa and used globally to inform discussions about our approach to partnerships. CARE takes very seriously the responsibility that comes with the trust placed in us by donors, partners and communities. We believe that the people we work with deserve nothing less than a commitment to excellence, and we know that critically reflecting on all aspects of our work is essential to helping us achieve greater impact in the fight to eradicate poverty and social injustice.

CARE Annual Report 2009 • p. 19

Centuries ago, Italian merchants used the @ sign as a measure of capacity. More recently, it has come to symbolize Internet communications and connectedness. At CARE, our strength comes from our capacity as one of the world’s largest humanitarian organizations and our strong connections to our supporters and the people we serve.

Program Expenses

Support Services and Fundraising

HOW CARE’S EXPENSES ARE ALLOCATED

Lasting Solutions to Poverty

Emergency and Rehabilitation

CARE’S PROGRAMS BY ACTIVITY

VISION

MISSION

CORE VALUES

We seek a world of hope, tolerance and social justice, where poverty has been overcome and people live in dignity and security. CARE will be a global force and a partner of choice within a worldwide movement dedicated to ending poverty. We will be known everywhere for our unshakable commitment to

CARE’s mission is to serve individuals and families in the poorest communities in the world. Drawing strength from our global diversity, resources and experience, we promote innovative solutions and are advocates for global responsibility.

Respect: We afﬁrm the dignity, potential and

the dignity of people.

We facilitate lasting change by: strengthening capacity for self-help; providing economic opportunity; delivering relief in emergencies; inﬂuencing policy decisions at all levels; addressing discrimination in all its forms.

PROGRAMMING PRINCIPLES • • • • • •

Promote empowerment Work with partners Ensure accountability and promote responsibility Address discrimination Promote the nonviolent resolution of conﬂicts Seek sustainable results

p. 20 • CARE Annual Report 2009

contribution of participants, donors, partners and staff.

Integrity: We act consistently with CARE’s mission, being honest and transparent in what we do and say, and accept responsibility for our collective and individual actions. Commitment: We work together effectively to serve the larger community.

Excellence: We constantly challenge ourselves Guided by the aspirations of local communities, we pursue our mission with both excellence and compassion, because the people we serve deserve nothing less.

to the highest levels of learning and performance to achieve greater impact.

CARE provided almost 7 million people with improved access to school and better quality education.

CARE’s water and sanitation projects increased access to safe water and improved health and hygiene practices for over 5 million people.

More than 9 million people gained access to credit, acquired skills to start or expand businesses and improved their income through CARE’s economic development programs.

Almost 10 million people improved crop production, adapted to climate changes, increased household income and promoted the sustainable use of natural resources.

7mil. 5

10 million

9 million THIRTY

CARE supported more than 800 povertyﬁghting projects in 72 countries to reach more than 59 million people in fiscal year 2009.

Through health and social services, CARE and our partners helped more than 10 million people protect themselves from HIV, reduce stigma associated with the illness, and mitigate its negative economic impact.

Together with our partners, we reached more than 30 million people with information and services to improve their health, including family planning, maternal and newborn care.

Our emergency response and preparedness programs reached 10 million people, with special emphasis on the needs of the most vulnerable: women, children and the elderly.

CARE Annual Report 2009 • p. 21

We can’t emphasize it enough: Without you, nothing we do would be possible. Your support enables us to bring life-saving and life-changing programs to millions of people. Without you, we wouldn’t be working every day to address the underlying causes of poverty. Thank you!

Lifetime Cumulative Gifts of $1 Million and Above AES Corporation Alliance for a Green Revolution in Africa (AGRA) Mrs. Nancy K. Anderson The Andrew W. Mellon Foundation Anita M. McCullough Living Trust The Annenberg Foundation Anonymous (7) The Atlantic Foundation The Baxter International Foundation Bill & Melinda Gates Foundation The Boeing Company Bristol-Myers Squibb Foundation Cargill The Charles Schwab Foundation Charles Stewart Mott Foundation The Church of Jesus Christ of Latter-day Saints The Coca-Cola Company Estate of Priscilla B. Collins Conrad N. Hilton Foundation Credit Suisse The David and Lucile Packard Foundation David R. and Patricia D. Atkinson Foundation Delphi Asset Management Delta Air Lines Mr. Joseph H. Ellis and Mrs. Barbara I. Ellis ELMA Philanthropies Services (U.S.), Inc. Fidelity Charitable Gift Fund Fidelity Charitable Gift Fund Randall Charitable Fund The Ford Foundation Gap, Inc. GE Foundation Global Impact Harold Simmons Foundation Howard G. Buffett Foundation JPMorgan Chase Foundation The Joseph and Bonnie Kies Endowment The Jordan Family Dean and Elizabeth Kehler The Kresge Foundation The LeBrun Foundation Lloyd A. Fry Foundation Loren A. Jahn Private Charitable Foundation

Dr. Elizabeth Mary Lutas The John D. and Catherine T. MacArthur Foundation The Marshall-Reynolds Foundation The MathWorks, Inc. Michael and Susan Dell Foundation Microsoft Corporation Microsoft Giving Campaign The Morgridge Family Foundation Oak Foundation Oracle Corporation The Panaphil Foundation The Peierls Foundation Penzance Foundation Pew Charitable Trusts Pﬁzer, Inc. Randell Charitable Fund Robert T. Rolfs Foundation The Robert W. Woodruff Foundation Adelia Russell Charitable Foundation Mr. and Mrs. Ben Russell Sall Family Foundation Saperlipopette Schultz Family Foundation Sheila C. Johnson and The Sheila C. Johnson Foundation Sony Music Entertainment, Inc./Pearl Jam Mr. and Mrs. Stanley Starbucks Coffee Company The Starr Foundation Mr. Daniel M. Tellep The Thomas Lyle Williams Charitable Trust TOSA Foundation Tower Research Capital, LLC Unocal Corporation UPS Foundation Vanguard Charitable Endowment Program W.K. Kellogg Foundation Weyerhaeuser Company Foundation William and Flora Hewlett Foundation Mr. A. Morris Williams, Jr. and Mrs. Ruth A. Williams Wisconsin Evangelical Lutheran Synod

FY09 Gifts of $1 Million and Above Bill & Melinda Gates Foundation Cargill ELMA Philanthropies Services (U.S.), Inc. Howard G. Buffett Foundation

Oak Foundation Sall Family Foundation Saperlipopette The Vanguard Charitable Endowment Program

$500,000-$999,999 Catholic Relief Services Credit Suisse Foundation Fidelity Charitable Gift Fund Gap, Inc. General Mills Foundation Global Impact The Jordan Family

Michael and Susan Dell Foundation NIKE Foundation Not On Our Watch Oracle Corporation Sheila C. Johnson Foundation, Inc. Starbucks Coffee Company TOSA Foundation

$250,000-$499,999 Adelia Russell Charitable Foundation Baume & Mercier Conrad N. Hilton Foundation Ms. Susan Crown The Ford Foundation GE Foundation Google Inc. Charitable Giving Fund, Tides Foundation p. 22 • CARE Annual Report 2009

Kraft Foods The Peierls Foundation The Pine Tree Foundation Richard and Rhoda Goldman Fund Mr. and Mrs. Ben Russell Mr. Douglas Tilden The Trehan Foundation The UPS Foundation Ms. Deidra J. Wager

Each day, CARE strives to put into action the compassion and generosity represented by your gifts. And we see this gratitude paid forward by individuals and communities who, in turn, help their neighbors build brighter futures.

$15,000-$24,999

$100,000-$249,000 ACE Charitable Foundation Acorn Media Group, Inc. Boeing Company Mr. Peter J. Braam The Charles Schwab Foundation Charles Stewart Mott Foundation Mr. Thomas E. Claugus Community Foundation of Greater Memphis Covance, Inc. Credit Suisse Americas Foundation The David and Lucile Packard Foundation

The David R. & Patricia D. Atkinson Foundation The Dietrich W. Botstiber Foundation Everett/O’Connor Charitable Trust Genetech Foundation Mr. Justin S. Huscher Ipswitch, Inc. JPMorgan Chase Foundation Dean and Elizabeth Kehler Mr. Michael L. Keiser Levi Strauss Foundation Lloyd A. Fry Foundation Luke and Elizabeth Morrow The Osprey Foundation The Panaphil Foundation

The Pentecost Family The Robert Wood Johnson Foundation Mr. Daniel Schmidt Mr. Steve Schneider The Starr Foundation Stemcor USA, Inc. Stupski Family Fund of the San Francisco Foundation David A. Tepper Tutator Foundation Mr. William D. Unger The Warburg Pincus Foundation Ms. Tiffany Weakley Mr. and Mrs. Michael E. Wiles The World Bank Community Youth Hope Foundation

$50,000-$99,999 3M Foundation Abbott Laboratories & Corporation Jean K. and David T. Akers Albert and Elaine Borchard Foundation, Inc. Almeida Family Foundation Apogee Electronics Pamela T. and C. Hunter Boll The Bryan & Christina Cressey Foundation Mrs. Judith Buechner and Rev. C. Frederick Buechner Cogan Family Foundation Community Foundation for Monterey County Anthony and Lawrie Dean The Donald G. Goodwin Family Foundation, Inc.

Mr. and Mrs. Joseph H. Ellis Mr. Bert and Mrs. Candace Forbes Mr. and Mrs. John H. Ford Global Water Challenge Hurvis Charitable Foundation Gregory and Anne Jordan Kellcie Fund The Marshall-Reynolds Foundation Merck & Co., Inc. Microsoft Giving Campaign MixThis! Moet Hennessy USA Mr. & Mrs. Paul Murphy Mrs. Rita Murphy-Carfagna The Northern Trust Co. Mr. Thomas D. Poole Mr. Allan P. Scholl

Gregg and Kim Sciabica The Seattle Foundation ShareGift USA Tucker and Janet Short Mr. David Smith and Mrs. Nancy Smith United Way of San Luis Obispo County, Inc. Weyerhaeuser Company Foundation The Willow Springs Foundation The Women’s Conference World Wings International, Inc. Mr. and Mrs. Simon Yin Dr. Robert Zufall and Mrs. Kathryn Zufall

$25,000-$49,999 Ms. Edith Allen Anthony R. Abraham Foundation, Inc. The Barstow Foundation Mr. and Mrs. Robert Bartels The Baxter International Foundation Beyond the 11th Foundation Binnacle Family Foundation Ms. Charlotte T. Bordeaux The Boston Note Company Mr. and Mrs. David A. Boutwell The Cable Company CARE Alabama Mr. Charles C. Cahn Jr. The Capital Group Companies Charitable Foundation The Cedars Foundation Charles Lamar Family Foundation Citibank, NA Citigroup Preferred Custody Services Clipper Ship Foundation, Inc. The Community Foundation for the National Capital Region ConAgra Corporation Cornell University Foundation Mr. Glen A. Cunningham The Danellie Foundation The Davee Foundation Mr. James Devaney Douglas B. Marshall Jr. Family Foundation Fifth Third Bank Firmenich, Inc. Mrs. Janet A. Fisher

Dr. Brian Fry Mr. and Mrs. James P. Glaser Ms. Jill Rosenblatt Gordon Haley & Aldrich, Inc. Harold Simmons Foundation Helen S. Crowder Mrs. Marjorie Y. Hiura Sister Julia Huiskamp Alan and Glen Husak The Hyde Foundation Mr. and Mrs. Loren A. Jahn Mr. Alan K. Jennings Chandra Jessee and Julius Gaudio Janet and Howard Kagan Mr. Tim Kerr and Ms. Cynthia Wells Mr. Jeffrey L. Kofsky and Mrs. Linda Kofsky Ms. Ronni S. Lacroute The Lawrence Foundation Mr. Elliot Lehman The Lutheran Church Missouri Synod Foundation Mac’s Shell Service, Inc. Mary Catherine Bunting Foundation The Medtronic Foundation Mr. Harold C. Meissner The Merck Company Foundation Microsoft Corporation Millennium Water Alliance The Minneapolis Foundation Mrs. Albert J. Moorman Mrs. Elizabeth R. Moran Network for Good Mr. and Mrs. David R. Peeler

Ms. Charlotte Perret Mary and Myron Peterson Pharmaceutical Research and Manufacturers of America (PhRMA) Ping Y. Tai Foundation, Inc. Quixote Foundation The Reilly Family The Robert and Loek C. Neimeth Family Foundation, Inc. Rock Paper Scissors Foundation Mrs. Ardath H. Rodale Mr. Russell G. Ross, Sr. The Saint Paul Foundation Mark and Cindy Schoeppner Mr. Jonathan J. Seagle Shaker Family Charitable Foundation Sigma Partners Silicon Valley Community Foundation Stephen and Tabitha King Foundation Symantec Corporation The T. Rowe Price Program for Charitable Giving Teavana Richard and Elaine Tinberg Troutman Sanders United Way International Wal-Mart Stores, Inc. Mr. Douglas J. Weckstein and Mrs. Tara T. Weckstein Mr. Wade and Mrs. Brenda Woodson Mr. Jason Yim

The Alice Tully Foundation Mr. Richard D. and Mrs. Ruth B. Armold Mr. and Mrs. E. T. Baldridge Dr. and Mrs. J. Gregory Ballentine Mr. and Mrs. Martin Balser Dr. and Mrs. Jonathan B. Barnes Mr. Joseph Battat Bernard van Leer Foundation Mr. Don Blenko Jr. and Mrs. Marcia W. Blenko Scott and Roxanne Bok The Boston Foundation Mr. David Brand Kenneth and Cheryl Branson The Brook Family Foundation Mr. and Mrs. John Steven Caﬂisch Mrs. Nancy S. Calcagnini The California Community Foundation Mr. Walter C. D. Carlson and Ms. Deborah de Hoyos Cervantes Capital, LLC Chinese International School (Hong Kong) Chung-Wei Ng and Carl T. Kelley Citi Global Impact Funding Trust, Inc. Darbali Air Conditioning & Refrigeration Ms. Barbara A. Dawkins Dewey & LeBoeuf, LLP The Ellis Foundation, Inc. Mr. and Mrs. Scott C. Evans

Todd and Dorothy Evans Foren Family Foundation Mr. and Mrs. Robert W. Galvin Goldman Sachs Philanthropy Fund Mr. Robert J. Green Mr. and Mrs. Douglas Hamilton Mrs. Arloene Young Hawley Mr. Raeburne Heimbeck Mr. Mark Herlache Mr. Paul A. Higgins Jerry and Patsy Hubbard Dr. and Mrs. Carl C. Hug Jr. The Human Fund IBM Employee Services Center Irene E. and George A. Davis Foundation JDD Holdings, LLC Mr. Eric Jorgensen Paul and Jasveer Kavanagh Ms. Carol Kearney Mrs. Susan Kinzie Lavalette Holdings Corp. The Les Oiseaux Foundation The Litterman Family Foundation Louise Blackman Tollefson Family Foundation Mr. Joseph Mancino and Mrs. Laurel A. Mancino The Marks Family Foundation Mr. Eugene Markus Mr. and Mrs. Frank Mars Mr. John A. McNeice Jr. and Mrs. Margarete E. McNeice Merkle

Merrill Lynch Trust Company The Mosakowski Family Foundation Multiple District 19 Lions Mrs. Anna B. Munch Mr. and Mrs. Pandurang Nayak The New York Community Trust North Dakota Farmers Union Maureen O’Hara and David Easley Pfizer Foundation Pfizer, Inc. Rainbow World Fund Mr. Bradley Reid Mr. and Mrs. Jack Reis Mr. Kyle S. Rhoades Robert J. Frisby Foundation, Inc. Lucinda Roy and Larry Jackson The Saban Family Foundation Mr. Thomas and Mrs. Ulrike Schlafly Mr. Benjamin T. Shaw Mr. Frank J. Snopko Société Générale Mrs. Peggy Somoza Soros Fund Charitable Foundation Brien and Cynthia Stafford Ms. Jane Stamper Starbucks Coffee Company Virginia Wellington Cabot Foundation Marissa Wesely and Fred Hamerman West Foundation, Inc.

Mr. Clifford Hansen Ms. Olivia Hansen Health Empowering Humanity Mr. Mark Heising Hewlett-Packard Mr. Robert Horowitz and Mrs. Julie Horowitz Mr. Wentworth Hubbard J.T. Tai & Co. Foundation, Inc. The Jay and Rose Phillips Family Foundation Mr. Allen Jedlicka Mr. and Mrs. Richard J. Jessup Jewish Communal Fund Johnson & Johnson Family of Companies Ms. Debora L. Jones Journey Charitable Foundation The Joyce & Gary Wenglowski Foundation Dr. Nancy and Mr. Michael Kaehr Mr. Peter H. Kaskell and Mrs. Joan M. Kaskell Dr. Kevin Kelly Kenneth Douglass Foundation Mr. Philip Kent Mr. Steven Kessel and Ms. Sibyl Frankenburg Mr. Arthur Kieffer Mr. Kurt N. Kimber and Mrs. Angela Wyatt The Kindergarten Unit Mr. and Mrs. Chris A. Kindred Ms. Janine Krivokapich Ms. Susan Laing Mr. Jared Levy Louis H. Gross Foundation Mrs. Marcia T. MacKinnon Thomas E. Mallouk and Gael G. Mallouk Management 360 Joe and Linda Mantheiy Mr. Richard Marin Mr. Gordon A. McLean Merle and Ellen Morgan Gift Fund Mr. Karl D. and Lynette A. Miller Mr. Rohinton Mobed Dr. Gordon E. Moore The Morgridge Family Foundation Ms. Jutta Mosse Dr. Edward T. Mulhern National Philanthropic Trust Nordstrom

Mr. Matthew P. O’Loughlin Oprah’s Angel Network Pamphalon Foundation Mr. John Glenn Pitcairn Mr. and Mrs. Randall E. Pond Skylar Poole Premiere Sports Productions, LLC Mr. and Mrs. John Rakoske Mr. Larry D. Rexrode The Ritchey Family Community Property Saks Incorporated Mr. Jonathan Mark and Ms. Donna Sakson The San Diego Foundation Sandy Hill Foundation Sealift, Inc. Select Equity Group Dr. Andrew M. Sessler Mr. and Mrs. W.C. Shanley Dr. and Mrs. Carl B. Shory Side By Side Foundation Custody Simmons Family Foundation Mrs. Lorraine C. Snell Mr. Walter Snodell Mr. Jonathan Solovy and Ms. Stacey Fisher Christine Spillane Richard K. and Harriet Squire Sean T. Strickland Sundaresan William and Joyce Thibodeaux timetospa.com The Tolleson Family Foundation UnitedHealth Group Janet M. Vasilius Verite, Inc. Dr. Jonathon Vitsky and Dr. Grace Lee Rosemary Wadden Mr. and Mrs. Mark J. Walker The Walmart Foundation Wells Fargo Western Union Foundation The William and May D. Norris Foundation The William J. and Jane F. Napier Charitable Lead Trust Mr. Duncan E. Williams Ms. Jane Willits Dr. Paul L. Winter Dr. Susan Yarian

What is Your Self-Worth? Foundation Mr. Allen Wisniewski Dr. Lowell L. Wood Julie Zelinski and Matthias Vaska

$10,000-$14,999 Gaby and Genevieve Ajram Dr. Ursula Alletag Mehrdad and Sholeh Amanat Mr. Craig G. Anderson Mrs. Nancy K. Anderson Mr. John E. Andrus III Mr. and Mrs. James Bala Donald and Elizabeth Ballard Baltimore Community Foundation Paul and Mary Jan Bancroft Mr. Dennis M. Barry Farid and Ann Behfar Mr. Jean Jacques Bely Vidya and Sally Bobba Mrs. Markley C. Cameron Juan Carrillo and Dominique Mielle Mr. and Mrs. Henry Chaplin Ms. Virginia F. Coleman Community Foundation of Greater Chattanooga, Inc. Mr. John Cook Corn Products International, Inc. Mr. W. H. H. Cranmer Mrs. Jane Daniels Saul and Consuelo Diaz Digitas, LLC Mary Pohli Drake Elixir Medical Corporation Mr. Richard A. Ely and Mrs. Linda M. Ely Ernest and Rose Samuels Foundation Mr. Brandon Evans Mr. and Mrs. W. Neil Evans Federated Garden Clubs of New York State, Inc. Fidelity Investments Mr. Vincent Florentino and Mrs. Ruth E. Florentino Mr. Otto L. Forchheimer Mr. Russell Frackman and Myrna Morganstern Brian Friedman and Vanessa Slinger-Friedman Mr. and Mrs. Edward M. Friend III Dr. Marcel P.J. Gaudreau Jim Fullarton and Natalie Gauthier General Federation of Women’s Clubs Deirdre Giblin and David DuBard Give With Liberty John and Stella Graves The Greater Kansas City Community Foundation Grosvenor Building Services, Inc.

CARE Annual Report 2009 • p. 23

When used in footnotes, an asterisk tells you where to Änd something. You’ll Änd CARE in 72 countries, working to remove barriers to education, provide life-saving maternal health care, increase access to basic Änancial services and support hundreds more poverty-Äghting initiatives.

14 24

23 22

32 16 44 7 5

CARE International members

CARE International Secretariat

A. Australia B. Austria sub-ofﬁces in Hungary and Czech Republic C. Canada D. Denmark E. France F. Germany / Luxemburg G. Japan H. Netherlands I. Norway J. Thailand K. United Kingdom L. United States

Geneva, Switzerland Brussels, Belgium New York, United States

p. 24 • CARE Annual Report 2009

CARE International Member Countries with CARE Programming in FY09

To coordinate operations, one member of CARE International is designated “lead member” for each country. CARE USA is lead member for countries printed in italics. CARE International jointly manages countries in the Middle East and Eastern Europe.

21 57

D H F B

67 29

1 27

G 42

25 3

38 J

30 55 9

19 10

15 8

2 37

63 64

33 A

50 31

Countries with CARE programming in FY09 1. Afghanistan 2. Angola 3. Bangladesh 4. Benin 5. Bolivia 6. Bosnia and Herzegovina 7. Brazil 8. Burundi 9. Cambodia 10. Cameroon limited presence 11. Chad 12. Cote dâ&#x20AC;&#x2122;Ivoire 13. Croatia

14. Cuba 15. Democratic Republic of Congo 16. Ecuador 17. Egypt 18. El Salvador 19. Ethiopia 20. Georgia 21. Ghana 22. Guatemala 23. Haiti 24. Honduras 25. India

Countries where CARE worked or is working through partners: 26. Indonesia 27. Jordan 28. Kenya 29. Kosovo 30. Laos 31. Lesotho 32. Liberia 33. Madagascar 34. Malawi 35. Mali 36. Morocco limited presence 37. Mozambique 38. Myanmar

39. Nepal 40. Nicaragua 41. Niger 42. Pakistan 43. Papua New Guinea 44. Peru 45. Rwanda 46. Senegal 47. Serbia 48. Sierra Leone 49. Somalia 50. South Africa 51. Sri Lanka

52. Sudan 53. Tajikistan 54. Tanzania 55. Thailand 56. Timor Leste 57. Togo 58. Uganda 59. Vanuatu limited presence 60. Vietnam 61. West Bank/Gaza 62. Yemen 63. Zambia 64. Zimbabwe

65. Armenia 66. Bulgaria 67. Montenegro 68. Philippines 69. Romania 70. Argentina 71. Mongolia 72. Russia

CARE Annual Report 2009 â&#x20AC;˘ p. 25

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Helene D. Gayle President and CEO

Steve Holl Hollingworth Chief Operatin Operating Ofﬁcer and Executive Vice President Global Operat Operations

Joseph J. Iarocci Chief of Staff

Cathy Woo Woolard Executive Vice President Global Advoca Advocacy and External Relations

ard Chair o B d n a t Presiden m o r f r e t t Le

Patrick So Solomon

look. rywhere we e v e e g n a e signs of ch nge.” We se a h C f o s n ig report is “S ar’s annual e y is th ear-old girl, f o oja, a 16-y o P The theme d e rd o ff a the uilt school f poverty. In w a CARE-b o o e h cl n e cy s se u e io hav family’s vic t, India, I gs and her migrant s of Gujara g n a in p k a lt re sa village savin b e ’s e, E d R a A In th tr C f rk o o w members the metal w e of their itnessed ho ity to learn w n e u v rt a o h p I p y using som o e, b n s o the e in L a g a rr ir ie ounded the masilaya, S They comp lage of Kori e. m co dical help. in a tr farming vil ergency me erate ex m n e e g f o n a d e th e n m did more t women in loan progra ort pregnan p p su to d cial fun create a so savings to f change. ese signs o th te ra b le ce gether. We p comes to u ro g d te a re dic d women a roken. A de hen girls an A cycle is b W . n e m o w of girls and e whole powerment ange for th m e ch e g th in st is la e and bring st of chang through eir families itical cataly th cr a in , E of ways – st R e A v C ty e in ri y For a e v th e l, id a w eir potenti nities in a to fulﬁll th eir commu th d n a n e empowered girls, wom s. rtant mean irectly help d e W y. it other impo n d n a se commu ri microenterp ple from lth services, a e h , n o ti n keep peo e ft o educa e ic st ju itutional in increasingly n and inst o si lu xc e become an l s a a ci h so rk f o o w ere. Forces nd advocacy ls, we n’t stop th r program a ultiple leve u o m , t ly a g d in e But we do e rd rights. Acco hen we succ poverty. W asic human f b o ir s e se th u g ca n g realizi se underlyin ressing the d d a . in l o ys and men powerful to women, bo , ls ir g r fo ge d resources. inable chan e, effort an m bring susta ti f o s n o your donati e appreciate W e. g n a ch r an agent fo e. pporters is su r u o ange we se f o Each signs of ch e th te a e to cr for helping Thank you

PH ayllee,, MD, M Helene D. G nd CEO President a W *(9, (UU\HS 9LWVY[

Cutter W. Bowman Chair

Senior Vice Pr President Global Suppor Support Services

Vickie Bar Barrow-Klein Senior Vice Pr President Finance, and Chief Financial Ofﬁcer

Jean-Michel Vigreux Jean-Mich Senior Vice Pr President Program Qual Quality and Impact

BOARD OF DIRECTORS OFFICERS

MEMBERS

W. Bowman Cutter

Richard J. Almeida

Helene D. Gayle

John P. Morgridge

Chair

Retired Chairman and CEO Heller Financial

President and CEO CARE

Chairman Emeritus Cisco Systems

President and CEO

K.Y. Amoako

Lynn Walker Huntley on leave

Randall E. Pond

Doris Meissner

President Southern Education Foundation

Executive Vice President Cisco Systems

Vice Chair

President African Center for Economic Transformation

Paul J. Jansen

Virginia Sall

Dean C. Kehler

Gilles Concordel

Treasurer

President and Founder Tutator Foundation

Director Emeritus McKinsey & Company

Co Founder Sall Family Foundation

Dean C. Kehler

Ranvir K. Trehan

Vice Chairman of Walmart

Managing Partner Trimaran Capital Partners

Vice Chairman Apptis Holdings

Susan Crown

Kenneth Lehman

Bruce C. Tully

Vice President Henry Crown & Company

Managing Partner KKP Group LLC

Managing Director Beehive Ventures LLC

W. Bowman Cutter

Richard A. Marin

William D. Unger

Director, 21st Century Economy Project Roosevelt Institute

Executive Chairman Africa Israel Investments USA

Partner Emeritus Mayﬁeld Fund

Katharin S. Dyer

Doris Meissner

Monica Vachher

Chief Talent & Transformation Ofﬁcer VivaKi

Senior Fellow Migration Policy Institute

President The Astor Group

Maria Echaveste

Afaf I. Meleis

Deidra Wager

Principal Nueva Vista Group LLC

Margaret Bond Simon Dean of Nursing University of Pennsylvania

Owner DJW LLC

Helene D. Gayle

Carol Hudson Secretary

Peter D. Bell Philip Johnston President Emeriti

Eduardo Castro-Wright

As of October 2009

CARE Annual Report 2009 • p. 27

At CARE, we work hard to make sure that every donation yields multiple benefits for women, girls, communities and societies. We strive to make the most of our resources by focusing on programs and partnerships that will create lasting change.

Report from Managemen t Despite the d ownturn in the global ec nearly $701 onomy, CAR million in fisc E received a l year 2009 – 2008. Those a lm o st even with resources, m ultiplied by provide expo the talent of nential valu our staff, e as we work families and to em power women communities , in the fight against pover ty. The difficult economy ma kes it more im that we man portant than age our reso ever u rc es ef fi ciently and ef CARE’s man fectively. agement is a lways mindfu the maximu l th at we must d m value to o eliver ur donors, p serve. Nearl artners and y 91 percent those we of the money went to prog w e ra is ed this year ram activitie s. Using Forb our fundrais es m a g azine calcula ing efficiency tion, is 89.5 perce over 10 cents n t, m ea n in g is spent to ra that just ise one dolla r of private su pport. CARE faced many challen ges in fiscal donors were year 2009. In more selectiv dividual e w it h th eir giving, a increasingly nd have restricted gif ts to specific the amount p rograms, lim available for iting administerin Secondly, ou g th o se p rograms. r investmen ts were adver markets, red se ly im pacted by th ucing the re e serves that o protected us th er w ise would ha at a time wh ve en we were ex changes in o p er ie n ci n g ur donations. significant

CARE receiv ed over $240 million in pri and nearly $ vate support 460 million in su p p o rt from govern and other so ments urces to reach n ea rl y 59 million all of whom people, subsist on le ss than $2 a (48 percent, d a y. Nearly ha or $308 milli lf on) of our sp services and en d in g went to partnerships in Africa, wit million) goin h th e rest ($335 g to Asia, La tin America Eastern Euro and the Cari pe and the M bbean, iddle East an programs. d multi-regio nal The consoli dated financi al statemen demonstrate ts that follo our organiza w ti o n a l fiscal health net asset bala through our nces for rest ricted purpo and $66 mil ses of $231 m lion to use w illion here the nee managemen d is greatest t knows that . CARE’s prudent fina is critical to n ci a l stewardship ensuring th at we can co world’s poor ntinue to se rve the and underst ands that it to our donors is equally im portant , partners an d those we se rve.

Vickie J. Bar row-Klein Chief Financi al Ofﬁcer

p. 28 • CARE Annual Report 2009

CARE USA Consolidated Financial Statements

CARE USA Balance Sheets (Restated to exclude Anukul) As of June 30, 2009 and Restated 2008 In Thousands

2009

Restated 2008

Cash and cash equivalents

$ 70,115

$ 110,346

Investments, at fair value

160,072

202,654

17,092

29,564

214,245

167,497

Inventory

11,889

17,801

Deposits and other assets

56,136

68,500

Property and equipment, net

25,504

24,250

Trusts held by third parties

89,286

112,056

$ 644,339

$ 732,668

$ 50,066

$ 60,195

Program advances

66,312

122,854

Liability for split interest agreements

19,565

22,362

BeneďŹ ts accrued for employees

29,137

31,288

173,178

132,210

8,591

6,996

346,849

375,905

65,799

77,810

Temporarily restricted

124,362

146,861

Permanently restricted

107,329

132,092

297,490

356,763

$ 644,339

$ 732,668

Assets

Receivables, net Loans receivable, net

Total Assets Liabilities and Net Assets Liabilities Accounts payable and accrued expenses

Subsidiary loans payable Minority interest in subsidiary Total Liabilities Commitments and contingencies Net Assets Unrestricted

Total Net Assets Total Liabilities and Net Assets

CARE Annual Report 2009 â&#x20AC;˘ p. 29

CARE USA Consolidated Financial Statements continued

CARE USA Statements of Activities For the year ended June 30, 2009 In Thousands

Unrestricted

Temporarily Restricted

$ 62,344

$ 44,116

Total 2009

Restated Summarized 2008

220

$ 106,680

$139,934

133,934

147,643

220

240,614

287,577

Permanently Restricted

Support Private support Contributions CARE International Total Private Support

133,934 196,278

44,116

Government and other support U.S. government

274,867

267,177

Host governments

20,729

25,008

145,731

104,639

441,327

396,824

Others Total Government and other support Other Revenue Interest and dividends

8,905

3,111

12,016

17,325

Rent and miscellaneous

6,541

134

6,675

5,421

15,446

3,245

18,691

22,746

59,097

(59,097)

2,000

(2,000)

Total other revenue Net assets released from restrictions Satisfaction of program restrictions Revision of donor restrictions Total net assets released from restrictions

59,097

(57,097)

(2,000)

712,148

(9,736)

(1,780)

700,632

707,147

108,793

106,260

Rehabilitation

29,934

17,940

Development

503,765

484,032

9,100

8,519

Fund raising

24,169

28,023

Management and general

32,625

28,434

708,386

673,208

Total Operating support and revenue Expenses Program Emergency

Public information Supporting Activities

Total operating expenses Operating Support and Revenue over Expenses

708,386 3,762

(9,736)

(1,780)

(7,754)

33,939

Other Nonoperating Changes in Net Assets Minority interest in subsidiary income

(1,937)

(4,725)

Foreign exchange (loss)/gain

(2,075)

2,068

941

Actuarial loss on annuity obligations

(281)

Actuarial (loss)/gain on split interest agreements

160

349

509

Interest and dividends on gift annuity investments

Net realized and unrealized loss on investments

(12,396)

Decrease in value of trusts held by third parties

Total Changes in Net Assets before change in pension liability Net change in pension liability

(185)

(22,499) -

(2,037) (77)

(25,508)

(13,155)

(22,983)

(14,586)

(24,763)

(59,088)

2,403

(185)

413 2,816

Change in net assets

(12,011)

(22,499)

(24,763)

(59,273)

Net Assets, beginning of year as previously reported

77,810

146,861

132,092

356,763

351,547

Correction of prior year error

8,023

Change in reporting entity

(5,623)

Net Assets, beginning of year as restated Net Assets, end of year

p. 30 â&#x20AC;˘ CARE Annual Report 2009

(11,826)

(13,112)

976

77,810

146,861

132,092

356,763

353,947

$ 65,799

$ 124,362

$ 107,329

$ 297,490

$356,763

CARE USA Statements of Cash Flow For the years June 30, 2009 and Restated 2008 In Thousands Restated 2008

2009 Cash Flows From Operating Activities: Changes in net assets

$(59,273)

2,816

Adjustments to reconcile change in net assets to net cash (used in) provided by operating activities Depreciation and amortization

5,496

Contributions restricted for investment in endowment

3,100

(220)

Provision for subsidiary microcredit loan losses

3,654

754

Unrealized loss on derivative contracts

2,575

Net realized and unrealized loss on investments Actuarial loss on annuity obligations Actuarial (gain)/loss on split interest agreements

25,508

13,155

281

2,037

(509)

Decrease in value of trusts held by third parties

22,983

14,586

12,472

(1,847)

5,912

33,031

12,364

(7,348)

(Decrease)/Increase in accounts payable and accrued expenses

(12,704)

13,672

Decrease in program advances

(56,542)

(9,594)

Changes in assets and liabilities Decrease/(Increase) in receivables Decrease in inventory Decrease/(Increase) in deposits and other assets

(Decrease)/Increase in beneﬁts accrued for employees Net cash (used in) provided by operating activities

(2,151)

842

(40,154)

65,281

(110,003)

(212,097)

127,077

213,153

Cash Flows Used For Investing Activites: Purchases of investments Proceeds from sales of investments Purchases of property and equipment

(7,053)

Proceeds from sales of property and equipment

(15,174)

303

245

10,324

Net cash provided by (used in) investing activities

(13,873)

Cash Flows From Financing Activities: Proceeds from contributions restricted for investment in endowment

220

Increase in loans receivable Increase in subsidiary loans payable Increase in minority interest in subsidiary Payments to gift annuitants (Decrease)/Increase in liability for split interest agreements

(50,402)

(66,357)

40,968

42,360

1,595

4,246

(2,445)

(2,523)

(337)

800

Net cash and cash equivalents (used in) ﬁnancing activities

(10,401)

(21,474)

Net Change in Cash and Cash Equivalents

(40,231)

29,934

Cash and Cash Equivalents, beginning of year

110,346

80,412

Cash and Cash Equivalents, end of year

$ 70,115

$ 110,346

Noncash Contributions

$ 8,402

$ 22,199

Cash paid for interest

$ 14,979

$ 10,130

CARE USA Statements of Functional Expenses For the years June 30, 2009 and Restated 2008 In Thousands Program Activities

Supporting Activities Total

Fund raising

Management & general

2009 Total

2008 Total

$5,662

$154,300

$ 7,230

$18,214

$179,744

$175,300

20,298

1,551

24,384

1,808

5,321

31,513

28,267

534

6,015

218

8,526

1,242

9,831

10,049

41,746

9,133

78,567

1,141

130,587

12,997

1,885

145,469

140,094

Travel and transportation

6,007

2,482

34,266

343

43,098

490

2,123

45,711

47,897

Occupancy

2,885

1,330

14,087

110

18,412

547

1,595

20,554

19,320

Emergency

Rehabilitation

Development

$ 22,818

$ 8,766

$117,054

Professional services

1,682

853

Equipment

1,759

Personnel costs

Materials and services

Financing/Depn/Misc. Grants/Subgrants AgCommodities/CIKs Total Operating Expenses for 2009

Public information

584

1,427

54,662

56,716

985

482

58,183

48,347

5,998

5,409

106,394

117,811

117,867

128,803

25,314

72,422

97,758

1,753

99,514

75,131

$503,765

$9,100

$651,592

$24,169

$32,625

$708,386

$673,208

$108,793

$29,934

CARE Annual Report 2009 • p. 31

Headquarters

Field Ofﬁces

Atlanta 151 Ellis Street Atlanta, GA 30303-2440 T) 404-681-2552 F) 404-589-2650

Atlanta 151 Ellis Street Suite 100 Atlanta, GA 30303-2440 T) 404-681-2552 F) 404-577-5557

New York 32 West 39th Street 3rd Floor New York, NY 10018 T) 212-686-3110 F) 212-683-1099

Boston 99 Bishop Allen Drive Suite 300 Cambridge, MA 02139 T) 617-354-2273 F) 617-354-2241

Philadelphia 114 Forrest Avenue Room 106 Narberth, PA 19072 T) 610-664-4113 F) 610-664-4256

Chicago 70 East Lake Street Suite 1430 Chicago, IL 60601 T) 312-641-1430 F) 312-641-3747

San Francisco 465 California Street Suite 1210 San Francisco, CA 94104 T) 415-781-1585 F) 415-781-7204

Los Angeles 13101 Washington Blvd Suite 133 Los Angeles, CA 90066 T) 310-566-7577 F) 310-566-7576

Seattle 1402 Third Avenue Suite 912 Seattle, WA 98101 T) 206-464-0787 F) 206-464-0752

Constituent Services 1-800-422-7385 info@care.org

Planned Giving

care.org

1-800-752-6004

Washington, D.C. 1625 K Street, NW Suite 500 Washington, DC 20006 T) 202-595-2800 F) 202-296-8695

Photo Credits: FRONT COVER: ©2006 Jessica Wunderlich/CARE; BACK COVER: Barbara Kinney/CARE; Page 4, ©2009 Chas Underwood; Page 6 & 9, ©2004 Phil Borges; Page 7, from left ©2007 Valenda Campbell, ©2008 Carol Meyer/CARE, Nicole Cappello/CARE; Page 10-11 Shaw McCutcheon/CARE; Page 14-15, ©2006 Josh Estey/CARE; Page 16-17 (photo) ©2006 Nicky Lewin; Page 18, Allen Clinton/CARE; Page 19, from left 1st row: ©2005 Phil Borges, ©2006 Erin Lubin, ©2006 Jason Sangster/CARE; 2nd row: ©2005 Phil Borges, ©2006

Josh Estey/CARE, ©2006 Jessica Wunderlich/CARE; 3rd row: ©2006 Kirsten Luce/CARE, Allen Clinton/CARE, ©2006 Josh Estey/CARE; 4th row: ©2006 Kate Holt, ©2005 Josh Estey/CARE, ©2006 Ilan Godfrey; 5th row: Erin Lubin/CARE, © 2006 Georgina Cranston, ©2006 Ilan Godfrey; PAGES 26-27, Caroline Joe/CARE; Page 28, (photo) Phil Borges/ CARE, (graphic enhancements).

CARE is an Equal Opportunity Employer and Afﬁrmative Action Employer (AA/M/F/D/V) dedicated to workplace diversity. CARE® and CARE Package® are registered marks of CARE. Copyright ©2010 by Cooperative for Assistance and Relief Everywhere, Inc. (CARE). All rights reserved. Unless otherwise indicated, all photos ©CARE. CARE®, CARE Package®, I Am Powerful®, She Has The Power To Change Her World. You Have the Power to Help Her Do It.® and Defending Dignity. Fighting Poverty.® are registered marks of CARE. Printed on recycled paper.

p. 32 • CARE Annual Report 2009