Limmat Annual Report 2008 by salero salero

ANNUAL REPORT 2008

LIMMAT STIFTUNG â&#x20AC;˘ ANNUAL REPORT 2008

CONTENTS Editorial

Projects for Children Africa America Asia Europe

4 5 5 8 9

Projects for Youngsters Africa America Asia Europe

10 11 13 19 20

Projects for Adults Africa America Asia Europe

22 23 27 30 31

Events

The Financial Crisis and the Endowments

Annual Financial Statement and Efficiency Report

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Editorial On the Crisis The world-wide crisis of 2007 took another turn for the worse in the fall of 2008. Ultimately, however, it is not a financial crisis or an economic crisis: Rather, we find ourselves in a crisis of social, political and moral values. We are faced now with several questions: First, the place of money in society should be scrutinized. Fundamentally, money should flow easily, and there are many financial services that are useful and socially meaningful. A good example of this is the micro-finance sector initiated by Muhammad Yunus. Micro-credit clearly contributes directly to the fight against poverty insofar as it focuses on the beneficiaries, and takes their education seriously. But if micro-credit is contorted into a mere profit-making instrument, then it is not much help in promoting sustainable development. Secondly, one asks how all these highly-paid, highly-qualified bankers, and all the regulatory bodies and politicians, did not see the crisis coming. In some cases, they were even guilty of criminal machinations. Certainly, we shouldn’t now pigeon-hole all bankers as greedy materialists, but the fact remains that the financial world has lost a lot through this betrayal of trust. For an institution such as the Limmat Foundation, two kinds of consequences arise from this present crisis: • It must offer its know-how in sustainable, effective development cooperation to new benefactors, who because of the economic crisis will tend to be more conservative in future giving. • It must manage the monies entrusted to it well, so that they achieve their proposed ends and complete their respective projects as well as possible. But it must also invest these funds well, so that the donations are not quickly exhausted. For this, the financial instruments must be very carefully chosen. The Limmat Foundation has already outlined investment strategies that have yielded good results in past years and have been able to keep negative performance within bounds. On page 34 you can find the financial report with figures on the long-term performance of the Limmat Foundation which, despite the negative impact of the financial markets, has posted a positive report in 2008. We can only hope that future stream of cash will be regulated in such a way that money will be a means of serving the well-being of the many, and not an end that can be abused by the few.

Henri des Déserts Limmat Foundation Board Member

Projects for Children

LIMMAT STIFTUNG • ANNUAL REPORT 2008

AFRICA Congo, Bukavu Street Children in Bukavu – Pères Blancs

Because of the chaos of war in the Democratic Republic of the Congo, there are around 2,600 street children in the Bukavu region alone. Twenty of these find refuge in a home whose director was once a street child himself. The project is supported by the Swiss organization Action by Christians for the Abolition of Torture. Forty more children come to the home during the day for literacy and vocational training courses (sewing and carpentry). Limmat’s contribution

CHF

5,000

AMERICA Cali, Medellín / Manizales / Cartagena / Barranquilla, Colombia Child Helpline 106 – CorpoLatin The Línea de Atención 106 does more than just listen to a child’s troubles. It provides around the clock access to a professional team. If the telephone call does not solve the issue, then the case is passed on to a specialized institution that can address the caller’s problem. In cases of domestic violence or abuse, for example, the CorpoLatin associates call the police or the Institute for Family Welfare (ICBF). The victims are never left alone. Depending on the situation, they are given medical and/or psychological help. Debriefings take the causes of the particular incidents into account and long-term solutions are pursued. The helpline ensures that the situation is in fact resolved. In 2008, the three well-established Líneas 106 answered over 13,200 calls. 1,200 calls required further attention and/or had to be treated as social cases. Of these, 68% were young girls. CorpoLatin has developed a new strategy for the new cities. In these destinations, no new institutions will be established. Rather, a strategy of cooperation with existing child welfare institutions will be pursued. Nonetheless, CorpoLatin Colombia remains responsible for the education, the quality control and the direction of the partner organizations. In Cartagena, Actuar por Bolivar has taken over the operational role. Plan International, Children International and Partners of the Americas are also associated partners of the Línea 106. The mayor’s office has already agreed to the program, and a financing contract will be signed at the beginning of 2009. In Barranquilla, the Fundación Futuros Valores is taking the leadership role; in Bucaramanga, the Cardiovascular Foundation of Colombia. In 2008, the teams in the six cities, in addition to their daily work with the children, focused on setting up networks on all levels. Cooperation with aid organizations and government agencies was expanded and deepened. Meanwhile, other institutions active in the social sphere have begun asking about the experience of the Línea teams. Lectures on the rights of children held in schools, at vacation camps or at sporting events has made the assistance offered by Línea de Atención 106 more widely known among children. Project costs CHF 335,000 Local partners and government agencies CHF 245,000 Limmat’s contribution CHF 90,000

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Cali, Colombia Kindergarten Amiguitos – Club Activo 20-30 Kindergarten Amiguitos lies in the Buenos Aires slum of Cali, where people who have fled or been driven from the countryside are stranded. Since these internal refugees have neither possessions nor education, it is all they can do simply to survive. There is very little time left over for their often numerous children. Neglect and juvenile delinquency are the results. A good day care center works preventively in such a setting. Amiguitos cares for children between the ages of 2 months and 6 years. In this shelter, the children receive balanced meals, have quiet times and are intellectually, spiritually and socially drawn out, so that they are ready for the transition into primary school. Since 1978, this day care center has been admitting an ever greater number of children. At 200 children, it reached full capacity. Admittedly, Amiguitos is state accredited, and receives what are called scholarships from the Institute for Family Welfare (ICBF) for the daily needs of the children. This support, however, does not suffice for the expansion of the building, or to meet the growing demands of the ever-increasing number of children. The Limmat Foundation is co-financing the construction of a new building that will open in 2009. It will accommodate 300 children, and has a kitchen, playrooms and nap rooms, as well as an enclosed yard. Amiguitos is a project of its partner organization Club Activo 20-30, which has been working with the Limmat Foundation since 1995 to build two other childcare centers in other slums of Cali. Project costs CHF 260,000 Local partners and government agencies CHF 155,000 Limmat’s contribution CHF 105,000

Cali, Colombia Training for Child Care Providers – Fundación Carvajal To help ensure that small children are not left alone while their parents have to work, the Colombian Ministry of Family Welfare (Instituto Colombiano de Bienestar Familiar, ICBF) initiated the Madres Comunitarias program years ago. The madres comunitarias are women who, for a minimal wage, care for children from their neighborhood in their own homes, normally between 10 and 15 children at a time. By now there are over 60,000 such child care providers in Colombia, caring for approximately 1,000,000 children. At first glance this seems to be a great success, but at a second glance, it must be recognized that the educational and nurturing quality of this care is often sub-optimal. To ensure that children in the formative ages of 5 and under are better cared for, the Limmat Foundation together with the Fundación Carvajal have initiated a training program for the Madres Comunitarias. Five day nurseries will be established in the community and educational center Comuna 18 (see page 27), training 40 Madres Comunitarias from the surrounding area each year. In the evenings and on weekends, these nurseries will be used for continuing education workshops for primary school teachers. The long-term goal of this project is to improve the education of all the children in this impoverished neighborhood. Project costs (3 years) Local partners and government agencies Actec/Belgian government contribution Limmat’s contribution

EUR 225,000 EUR 83,000 EUR 106,000 EUR 36,000

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Cali, Colombia Open Education for Primary School Children – YMCA – Asociación Cristiana de Jóvenes (ACJ) Two million persons internally displaced by the armed conflicts in Colombia have flooded its cities over the last 10 years. As a consequence of this forced displacement, hundreds of thousands of children under the age of 18 have had to interrupt their schooling, and have never gone back to finish it. Often the reason for this is that the normal school system cannot accommodate their circumstances: many children must work to help their families survive, others have no (reliable) families and roam through the streets of the big cities, and still others have grown too old to fit into a class that is on their grade level. Through a project funded by the Limmat in 2002/3, the Escuela del Mercado project, the YMCA gained experience in teaching children who have to work during the day through a program of open education. This know-how is now being incorporated into the new project, “Learning circle”. Children with differing degrees of education, who have not found a place at a normal school, come together in these “learn circles.” In 2008, the circles were able to help 106 school-aged children work through their school materials at their own pace. The program uses the curriculum materials of the Escuela Nueva, a reform pedagogical method created by the Colombian educational scientist Vicky Colbert. At this time, additional teachers are being educated in this special teaching method so that other learning circles can be established. Project costs CHF 93,300 Local partners and government agencies CHF 48,190 Limmat’s contribution CHF 45,110

Cartagena, Colombia Plan Padrino Elementary School – Fundación Hogar Juvenil A sponsorship of 150 francs enables a child to attend the José-Galan School in the San Pedro Mártir quarter in Cartagena for a year. The San Pedro Mártir quarter houses a large immigrant community. Through the Limmat Foundation, 62 yearly donors are financing the Plan Padrino. In this way, about 80,000 francs have been collected over the last 10 years, providing scholarships for 530 children. The José-Galan School is admitting more children than originally planned. For this reason, the 240 students are divided into a morning group and an afternoon group. A large portion of the school’s budget goes to meeting the basic needs of the children. The children receive a snack and a nutritious lunch. The school cannot even afford all the necessary schoolbooks and there is no library. The financial and educational situation of the children’s parents also means the children do not have access to the world of books or to the joys of reading. The Limmat Foundation therefore has financed in this report year the construction of a school library. Project costs CHF 33,500 Local partners and government agencies CHF 22,000 Limmat’s contribution CHF 11,500

LIMMAT STIFTUNG • ANNUAL REPORT 2008

San Martin, Peru Social education, financial education – Odear Those who do not have any money cannot learn how to manage money. In Project Aflatoun, children born into poverty learn self-confidence and responsibility in financial matters. Jeroo Billimoria, who has already initiated the Child Helpline International, and who is a member of the Limmat Foundation Patrons’ Committee, has also developed the Aflatoun program. With the financial support of the Limmat Foundation, a pilot project was implemented in San Martin, a greatly underdeveloped region of Peru. In 2008, the teachers who will direct the program in 2009 were trained. This program will reach around 1,250 children and 1,000 youths. The central focus of the program is educating primary and secondary school children in financial responsibility. As part of their daily lessons, they learn how to manage (often scarce) economic resources, to save, and to execute communal projects for the improvement of their classroom. Experience shows that the knowledge of the children is influenced by the attitude of their families and whether and how parents speak with their children about the economic aspects of their daily life. Where such conversations occur, children learn self-confidence so that later in life they can manage their money more successfully. Project costs EUR Local partners and government agencies EUR Limmat’s contribution EUR

8,550 2,550 6,000

ASIA Poonamallee, India Home for Handicapped – Congregazione dei Servi delle Carità / Opere Don Guanella In Poonamallee, a suburb of Chennai in the southern Indian state of Tamil Nadu, there are almost no facilities for the handicapped. A number of seminarians from the Community of Don Guanella therefore began caring for a few handicapped children: finding things to keep them busy and entertaining them. Initially, the children received care only on the seminarians’ days off, but over time this initiative has grown into a rehabilitation center for 60 children with physical or neurological handicaps. The program now needs an appropriate building to meet the needs of the children. The Limmat Foundation has pledged the Community support for the construction and furnishing of the new center. Project costs EUR 250,000 Local partners and government agencies EUR 90,000 Limmat’s contribution EUR 160,000

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Vatluru, India Orphanage – Congregazione dei Servi delle Carità / Opere Don Guanella In principle, the Dalits of India, formerly also called the “untouchables”, are socially and materially equal to all others. In certain regions, however, this is hardly recognized in everyday life. Such is the case in the city of Vatluru, in the state of Andhra Pradesh, where the Dalits are systematically excluded from paid employment by the higher castes, and can only work in the most menial of jobs. The sons and daughters of the Dalits often do not go to school, since they cannot pay the necessary tuition. Instead, they are forced to work. The parish of Vatluru, working together with the Community of Don Guanella, has built three schools for these children. Attached to them is an orphanage for approximately 40 children. 100 EUR a year for primary and 200 EUR per year for secondary school covers room and board, school materials and tuition for a child. The Limmat Foundation supports the school with a gift of EUR 80,000: EUR 33,000 of this for an expansion project. Project costs EUR 128,000 Local partners and government agencies EUR 48,000 Limmat’s contribution EUR 80,000

EUROPE Rome, Italy Information Technology School/Scholarships – Boys’ Town The children’s village Boys’ Town was founded after World War II to care for war orphans. It now serves primarily orphans from Afghanistan and Africa, providing a true home for these children. Thanks to a permanent trust fund, the Limmat Foundation has supported the IT school of this children’s home for many years. The smaller children playfully use computers to learn how to read and write. Older children attend courses in how to use a computer, and can earn a “CAD operator” certificate that is recognized by the region of Lazio. The program builds on this knowledge to offer the boys a chance to earn their European Computer Driving License (ECDL). Similar courses are also organized at the IT institute at Girls’ Town. Project costs 2008 Local partners Limmat’s contribution

EUR 36,000 EUR 16,000 EUR 20,000

Projects for Youngsters

LIMMAT STIFTUNG • ANNUAL REPORT 2008

AFRICA Lagos, Nigeria Technical Education for Youth and Adults – Institute for Industrial Technology (IIT) – ADF AFRICAn Development Foundation Nigeria is the most populated country in Africa, and the largest petroleum producer of the continent, but also one of the poorest countries in the world. Very few benefit from the immense oil profits. Many Nigerians are malnourished; the infrastructure of the rural areas is neglected; the school system is quantitatively insufficient and qualitatively bad. Every year, thousands of people leave their rural homes and seek a new existence in the capital city of Lagos. This city of 13 million on the Gulf of Guinea has developed into one of the largest trade and production centers in Africa. Lagos is a lucrative domicile for international firms and national enterprises. These companies need a trained workforce. But in recent years, neither the state nor private enterprise has made sufficient investment in education and vocational training. The poorest Nigerians face the added obstacle that most educational centers charge tuition. The Institute for Industrial Technology (IIT) offers youth from difficult backgrounds, for example children of refugees who have had to interrupt their schooling, another chance. Since 2001, the IIT has been educating young men in mechanics, refrigeration technology, automation, electronics, electrical wiring and repair, information technology, and laboratory analysis. There is a high demand for graduates of the IIT, and those who complete the course quickly find jobs. The Institute for Industrial Technology (IIT) is one of the development projects initiated in Africa in the spirit of the Opus Dei founder Josemaría Escrivá. The Limmat Foundation cofinanced the construction and furnishing of the school building. The new classrooms, workstations and offices were ready for use in 2008. The IIT education combines theory and praxis. Advised and supported by a practicum instructor, the students acquire practical experience by working at various companies. In 2008 a total of 23 young men completed the educational program: • 86 youths were enrolled in the 3-year vocational training certificate program. The main focuses of the program are electro mechanics, automations technology, electronics and work methodology. The program also includes more general courses such as ethics and organizational structure. • 45 adults are enrolled in the two-year continuing education program. These students were sent to the ITT by their employers to improve their knowledge and skills. • 264 adults and youths attended the block course for unemployed and tradesmen. This offering is also used by the companies in the region as a means of educating their workforce.. Through all this the IIT has built up a network of relationships with local and international partner organizations in the educational sector, and has earned the respect of the companies headquartered in Lagos who have either bought services from IIT or used IIT for staff training. For this reason, the institute is for the most part financially self-sufficient. Project costs EUR Actec/Belgian government contribution EUR Local partners and government agencies EUR Limmat’s contribution EUR

284,000 170,500 82,900 30,600

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Lagos, Nigeria Wavecrest Hotel School – Women’s Board ECS There is no such thing as a two-tier educational system in Nigeria. There is only the choice between no vocational training and a university education. The Hotel Management School Wavecrest in contrast, combines its 2, 4 or 6 year programs of applied studies with practical work at the institute and with experience in hotels and restaurants, nursing homes or hospitals. The graduates of Wavecrest are in high demand. Completing the course at the College of Catering and Hospitality Management guarantees a comprehensive education at the highest level. About 40 teachers and specialists direct and mentor the 120 women students. These students come from all over the country, most of them from poor and very poor backgrounds. Places at Wavecest are in high demand, since a diploma from there opens the door to serious, paid employment: in other words, can substantially improve a person’s living situation. The young women are asked to contribute to their education according to their means, since this increases their motivation. This tuition however does not by any means cover operational costs. Therefore, Wavecrest College looks for international support, but also tries to generate its own income, an effort becoming progressively more successful as time goes on. In 2008 the team organized several continuing education courses and seminars for professionals. The students and instructors provide the service and catering at such external events. With its contribution, the Limmat Foundation has enabled the school to upgrade itself to a state recognized technical college. This required many investments in information technology, equipment and educational materials. Limmat’s contribution (2000-2008)

CHF 142,000

Lubumbashi, D. R. Congo Technical Vocational School – Institut Technique Salama In the Democratic Republic of the Congo (DRC), the majority of the people live on less than USD 2 a day. In the eastern part of the country, civil war, poor economic management and corruption have severely damaged the authority of the state and the infrastructure. The surviving populace is growing noticeably poorer. It is estimated that a million orphans must fend for themselves in the DRC. In the Lubumbashi region, in the southeast of this central African country, 54% of the population is under the age of 20. The collapse of the last 15 years has resulted in a situation where the state schools in Lubumbashi are no longer able to adequately educate the new generation of young people. For some of these children there is a small glimmer of hope, thanks to the Salesians of Don Bosco. In Lubumbashi, the Salesians care for street children and operate several schools. The Institut Technique Salama is one of these. It is one of the best technically oriented vocational schools in the country. 1,600 young men between the ages of 12 and 18 attend daily classes qualifying them to be future electricians, locksmiths, printers, auto mechanics, machine repair technicians and electronics technicians. The furnishings and equipment of the 1955 school building have grown old, and their renovation is too expensive for the Salesian fathers to fund. Together with the Association for Cultural, Technical and Educational Cooperation (Actec) and the Belgian government, the Limmat Foundation is financing the renovation and the re-equipping of Salama. Additionally, a part of this grant will be used for the continuing education of 83 teachers at a technical school in Brussels. Project costs Actec/Belgian government contribution Limmat’s contribution

EUR 404,600 EUR 323,680 EUR 80,920

LIMMAT STIFTUNG • ANNUAL REPORT 2008

AMERICA Buenos Aires, Argentina Austral Academic Medical Center – Asociación Civil de Estudios Superiores (Aces) The Limmat Foundation has given a loan to the Austral University Hospital, to support the construction of cardiology and maternity wards. The University also teaches economics, law, engineering and communications. Founders of the university included members of the Opus Dei Prelature which means that humane and Christian values have an important role in its education, in addition to the academic learning. The education of doctors and nursing personnel requires an above-average emphasis on the concrete linking of theory, daily praxis and social responsibility. Therefore, Austral organizes various social projects parallel to its university clinic activities: • A technically equipped bus drives regularly into the slums of the city, so that the children of poor families can receive good medical care. • An affiliated foundation subsidizes expensive medical treatment for indigent patients. • An Austral-financed information campaign informs the populace about skin cancer risk and offers free analysis of tissue samples in cases of suspected cancer. Project costs USD 13,700,000 Local partners and government agencies USD 9,700,000 Limmat’s contribution (loan) USD 4,000,000

Buona Vista, Dominican Republic Hotel Management School Serranía – Indesco Santo Domingo is a favorite vacation destination. Although its inhabitants live better than their neighbors in Haiti, many of them depend on money sent back by relatives living in other countries. The danger that young, girls make their way to the tourist centers and there turn to prostitution is an everyday reality. To prevent such occurrences, Indesco (Iniciativas de Educación Superior y Complementaria) has worked with the Limmat Foundation to establish the Serranía Hotel School. It lies in the Jarabacoa region, in a rural area. It is predicted that eco-, adventure- and agro tourism will have growth potential in that region. In 2008 Serranía was able to begin using its new school building. The school offers individual modular courses, and there are 209 women students presently enrolled. A further 209 have begun an advanced program which includes subjects such as service, cooking, laundry, sewing, etc. The courses are complemented by business classes and an introduction to entrepreneurship. Serranía also places a great value on the moral and ethical development of its students. Spiritual direction at the school for any who are interested in it is entrusted to the Catholic prelature of Opus Dei. Some of the students are already employed, and have been sent by their employers to Serranía to continue their education. Upon graduating, 65 of the graduates immediately found jobs in surrounding hotels and restaurants. Two have opened up their own home businesses. Project costs (2007 – 2009) USD 821,500 ODA contribution USD 88,200 Local partners and government agencies USD 547,200 Limmat’s contribution USD 186,100

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Medellín, Colombia Job Exchange for Youth – Interactuar Corporación Interactuar in Medellín has its headquarters at the foot of the Comuna Nororiental. This neighborhood has become infamous even beyond the borders of the country: from the 1970’s to the 1990’s, the poverty and crime in this slum intermingled and took on a deadly life of their own. The Medellín drug lord Pablo Escobar used to come here to recruit his hit men, who would go on to terrorize the whole city, indeed the whole country. Affected by the violence and the underlying poverty, caused among other things by the lack of education among the people, a group of entrepreneurs decided in 1983 to confront this evil at its roots by offering the people of the Comuna Nororiental an alternative that preserved their decency and their dignity. These entrepreneurs founded the Corporación Interactuar, which has contributed to the development of Medellín with vocational training programs (around 13,000 persons annually), micro-credit (approx. 18 million euros) and, since 2006, a job exchange for youth. Over the years, Medellín has become a safer city, and the inhabitants of the Nororiental neighborhood are proud that they are slowly pulling themselves out of poverty. Many of them have attended vocational training courses at Interactuar, or know someone that has received micro-credit from this organization. The activities of Interactuar are designed according to an entrepreneurial model. Any time vocational know-how is taught, it is always taught with the aim of integrating the student into the real job market. Professional integration is also the goal of the job exchange for youth and single mothers that Interactuar established in 2006. This project arose from the recognition that the youngsters who have completed a vocational training program do not automatically find a job on the open market. In this respect, the Bolsa de Empleo does not simply bring together employer and employee; rather, it on the one hand prepares the young person for entering the job market and on the other selects the right potential applicants for an employer, so that only suitable and sufficiently qualified candidates are sent for an interview. In a five-step seminar program, the job seekers learn how to realistically evaluate their own qualifications and chances, their strengths and weaknesses. Any professional deficits are identified and must be overcome, either at Interactuar or on some other training program. The youth learn how to put together an application dossier and how to present themselves in an interview. During this training, the tutors at Interactuar get to know the job candidates very well, and are better able than the typical recruiter to match a job seeker’s character and capabilities with the specifications of an advertised position. The ones who benefit from this are the employers. During the beginning stages of the job exchange, potential employers still had to be contacted and encouraged to participate in the program. In this report year, in contrast, 230 jobs a month were posted by employers who have had good experiences with candidates sent by the Bolsa de Empleo. The attractive training program and its positive resonance with employers have led to the surpassing of the project’s initial goals: 4,384 students enrolled in the program, 45% more than anticipated at the outset. Of these, 2,525 were placed in jobs. On aver-

LIMMAT STIFTUNG • ANNUAL REPORT 2008

age, a youth found a job within 3 months of completing the program, and after applying for four positions. The regular income immediately improves the living situation of the young people and their families. Their sense of self-worth is also positively impacted. The seminars at Interactuar expand their self-management skills, and also challenge them to greater personal development. Employee Testimonials In the seminars we learned how to dress in a professional environment, how to behave and speak during an interview. Most importantly for me, the coaches helped me to better present my qualifications. They were committed to finding the best possible position for me. Matilde Montoya, Saleswoman I find the seminars at Interactuar good because I learned how to build a professional future for myself. The Bolsa also taught me discipline, and to plan my life. The coaches are excellent; they were able to motivate me. I recognized that I am who I am: a person who is improving every day with joy. Elkin Giovanni Maldonado Loaiza, Chauffeur Like many young people in this country, I had a dream of getting an education and then a good job. But most of the doors in the job market remained closed for me, supposedly because I did not have any experience. Then the Bolsa de Empleo contacted me, I did the continuing education course. Now I work for a small company named Arte SaNo, where I am an assistant for administration and production. Yesenia Pineda Zapata, Secretary Employer Testimonials Our company does not have a human resources department. It’s something all of us do as the need arises. Interactuar took care of all the preliminary screening when we had to fill an open position. Our interaction with the job exchange was positive. I wouldn’t change anything at the Bolsa de Empleo, it fulfilled all our expectations. León Gómez, General Manager, Los Marinillos Pottery Workshop To help you evaluate your service, I’d like to let you know that you have done an excellent job fulfilling your promise. You provided us with a great selection of potential candidates whose qualifications met all the requirements of the posted jobs. From this pool we selected the person we felt best fit our need. Gladis Cecilia Jaramillo V., General Manager, Alimentos Nebraska Project costs (3 years) Local partner and government agencies DEZA contribution Limmat’s contribution

CHF 386,000 CHF 220,000 CHF 83,000 CHF 83,000

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Medellín, Colombia Micro-MBA in Hotel Management – Interactuar Interactuar (the former Actuar Famiempresas) in Medellín is a private institution whose core offering is educational programs and full-service assistance for prospective small-scale entrepreneurs. Thanks to their efficient work, Interactuar also receives support from government agencies and international NGOs, including the Swiss Agency for Development and Cooperation (SDC). Interactuar’s market analyses have shown that there is no praxis-oriented hotel school in Medellín, even though there is great demand for hotel personnel. Interactuar has begun to build such a school in this report year. Each year, 1,250 needy men and women will have access to training in customer service, laundry, housekeeping, office work, and such. This project will utilize the synergies that exist between it and the other vocational technical offerings of Interactuar such as food production, cooking and hygiene. Graduates of the program also receive access to a further resource: micro-credit, which graduates can use to start their own businesses. The Limmat Foundation is co-financing the construction and equipping of the new building needed for the school. Project costs (3 years) EUR 1,230,000 Local partners and government agencies EUR 255,000 Actec/Belgian government contributions EUR 780,000 Limmat’s contribution EUR 195,000

Cali, Colombia Educational Center for Young Mothers and Pregnant Girls – Fundación Pro Vida Digna Unintentionally pregnant young women face tremendous problems. To help them make the decision to keep their child, they need concrete help in changing their lives and assuming the responsibilities of motherhood. The Fundación Pro Vida Digna has taken on this task. Its educational center gives young women on the one hand the opportunity to complete their interrupted schooling, and on the other a solid vocational education in the areas of textile processing and cosmetology. Baby care, child-rearing, lifestyle decisions, self-confidence training and education in natural family planning are also part of the program. In addition to the classrooms there is a well-equipped nursery, so that the mothers can bring their babies and nurse them during the course of the day. In collaboration with a local foundation, Pro Vida Digna has begun offering courses in business management and is helping new microenterprises acquire micro-credit. In 2008 only one of the 24 course participants took advantage of this offering, while eight others wanted to get more education before taking on the risk and repayment obligation of a loan. 75 women took courses in textile making and 102 in cosmetology.

LIMMAT STIFTUNG • ANNUAL REPORT 2008

The Limmat contribution paid primarily for the outfitting of the workstations, financing the purchase of the hairdressing and cosmetology equipment. It also paid for heavy-duty multi-functional machines for the sewing studio. Since the educational program is under the direction of the Servicio Nacional de Aprendizaje (SENA), the national education service, the courses are free of charge and open to all women, independent of their circumstances. The project began in 2007 and will continue through the end of 2009. Project costs CHF 305,000 Local partners and government agencies CHF 190,000 Limmat’s contribution CHF 115,000

Cartagena, Colombia Vocational education for teenage mothers – Fundación Juan Felipe Gómez Escobar Until recently, Cartagena had the highest mortality rate of infants and small children in Colombia. It also has a high number of adolescent mothers. Many of these girls are internal refugees, poor and without education: a particularly difficult burden to bear since they have no help in supporting themselves or their child. The Juan Felipe Gómez Escobar Foundation is helping these young girls. Mothers and children are cared for professionally and free of charge in the Rafael Calvo Hospital. Here they have found, for instance, that high child mortality is linked to the malnourishment of the mothers. The Juan Felipe Gómez Foundation not only helps with these primary problems, but also works towards the sustainable betterment of the young mothers. So, the Foundation offers the young women the opportunity to begin a course of vocational education. The Limmat Foundation is supporting this education by providing 11 scholarships. The girls can choose from millinery, cosmetology, cooking and computer applications. Their children receive professional care in the nursery, which is attached to the school. The Foundation does not have any religious affiliation, but it does place great value on the spiritual care and social development of its young women. Leaders form small groups for discussion of values, education and social problems. Almost 3/4 of the graduates of this course are able to hold down a regular job, and some are even able to pursue their studies at a secondary school. Project costs USD 26,400 Local partners and government agencies USD 13,200 Limmat’s contribution USD 13,200

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Cali, Colombia Training workshops for former street children – Fundación Servicio Juvenil The Fundación Servicio Juvenil sponsors boarding schools, day care centers and street workers throughout all of Colombia, striving to help alleviate the plight of the street children. Every street child, however, must make the free decision to trade in his or her unfettered life on the street for life in a boarding school that teaches, among other things, discipline, responsibility and commitment. Children who give up their life on the street and entrust themselves to a team from the Servicio Juvenil often spend a long time in this care. The BosconiaMarcelino Boarding School in Cali takes this situation into account. The young people are able to pursue a vocational education parallel to their primary and secondary course of studies, so that they can afterwards earn a living in an honest job. At the end of the vocational training, the social workers also help the youth find a job and a new home. With the Limmat Foundation’s gift, the Bosconia-Marcelino Boarding School financed the construction of three new educational workstations in 2008, namely: • an electrical wiring and repair workstation • a diesel motor repair workstation • a carpentry workstation. The boarding school is also investing in the renovation of the already existing textile processing studios and the bakery, which now is situated on the street so that baked goods can be sold directly from there. A later stage of the project foresees classrooms for courses in cooking and hotel business. The school can accommodate 240 youths. 120 of the places are financed by the Colombian ministry for vocational training Servicio National de Aprendizaje (SENA), which has accredited the degrees from Bosconia-Marcelino. The remaining 120 places stand at the disposal of the children at Bosconia-Marcelino. The new workstations were ceremoniously dedicated on February 16, 2009. Among the guests of honor were the charismatic founder of the Fundación Servicio Juvenil the 80-year old Father Javier de Nicoló, and the director of the Social Departments of the Region del Valle. The celebration was combined with the first graduation ceremony for 60 apprentices who studied textile processing, welding and carpentry at Bosconia-Marcelino. Thanks to the recent accreditation, their diplomas are now also officially recognized. Project costs USD 194,000 Local partners and government agencies USD 145,700 Limmat’s contribution USD 48,300

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Maipu, Argentina Constructing a Conference Center – Asociación Civil Cultural de Cuyo In 1984, the Asociación Civil Cultural de Cuyo was founded with the goal of supporting young people as they make their first forays into the workforce. Besides providing supplemental vocational training in medicine, law and engineering, the association places great importance on the development and maintenance of a network of professional contacts and on fostering the spiritual and character development of the young people. With the support of the Limmat Foundation, the association has built a center for conferences and meetings with capacity for 28 persons. Affiliated to the center is a hotel management school that offers training courses for women. This project will benefit approximately 1,500 recipients annually. Project costs USD 1,400,000 Local partners and government agencies USD 1,300,000 Limmat’s contribution USD 100,000

Los Angeles, USA Westfield Residence Cultural Center – Association for Educational Development (AED) Since 1967 the Association for Educational Development (AED) has been supporting many conference and educational centers that provide continuous education courses for women of every age, regardless of religious or ethnic background. Course topics include, for example, “Doctor-Patient relationship in the Era of Mangeged Care Medicin”, “Is there a just war?”, “The Philosophy of Plato”, “Fashion, what’s in and what’s out”, “Mayan culture: Myth and Reality”, etc. The Foundation had very little representation in the city of Los Angeles, until now. The purchase and expansion of two new houses has enlarged the Association’s educational offering, and now provides about 1,250 women a year with professional training in hotel and home management, housekeeping and child rearing, ethics and nursing. Project costs USD 5,750,000 Local partners and government agencies USD 3,750,000 Limmat’s contribution (loan) USD 2,000,000

LIMMAT STIFTUNG • ANNUAL REPORT 2008

ASIA Beirut, Lebanon B-Start – Al-Kafaàt-Stiftung The name “B-Start” stands for “Business Support and Training Activities for a Resourceful Transition.” This comprehensive program is organized by AlKafaàt. The main focus of this Lebanese Foundation, founded in 1957, is the operation of workshops for the handicapped. But since the economic destruction and the high unemployment rate resulting from the Second Lebanon war of 2006, the organization has turned to the vocational education and training of unemployed adults. It follows up this training with job placement assistance and micro-credit for business start-ups. The Belgian government and the NGO Actec join the Limmat Foundation in supporting this three-year project. Project costs EUR 284,450 Actec/Belgian government contribution EUR 227,560 Limmat’s contribution EUR 56,890

EUROPE Zurich, Switzerland Home Economics Training for Monitors from Latin America – Hauwirtschafts- und Sprachschule Sonnegg In 2008, four scholarship recipients from Venezuela, Peru and Ecuador enrolled in the Home Economics and Language School Sonnegg for a two-year upgrade course. They have already completed vocational training in home economics in their home countries, and are now becoming certified as teachers of hotel management. In their countries, they will pass on their know-how in the hotel and hospitality industry to an average of 120 students each year. The course of studies at Sonnegg is both theoretical and practical, and includes subjects such as ergonomics, nutrition, cooking, laundry, textiles, safety, nursing, hygiene, housekeeping, cleaning, office management, German language, gardening and didactics. The Limmat Foundation and the Nestlé Pro Gastronomia are financing the tuition, insurance and a small allowance for the students. In this report year, the students will also take tours of Swiss food production companies and visit tourist attractions throughout Switzerland. Project costs CHF 88,000 Local partners and government agencies CHF 44,000 Limmat and Pro Gastronomia contribution CHF 44,000

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Brussels, Belgium Construction of a student residence – Studentenhuis Arenberg Since 1965, the university hall Arenberg has been housing Belgian students, but it also welcomes Erasmus and Tempus foreign exchange students. It is a house where young men find the quiet they need for studying and for the contemplation that feeds their Christian spiritual development. As a balance to this quiet environment, various sporting and cultural events and excursions are organized. The residence is now expanding with a new building that will be open to a wider public. In addition to the 15 rooms, study hall with 20 seats, and computer room, there will be three community and multi-purpose rooms set up, for 12, 20 and 30 persons respectively. These rooms are designed so that they can be interconnected to create a space for 80. In this way, the center can also accommodate seminars and conferences. Attendees can keep their bodies fit by exercising on the adjoining sports field and tennis courts, or in the swimming pool. Project costs EUR 1,985,000 Local partners and government agencies EUR 985,000 Limmat’s contribution EUR 1,000,000

Rome/Milan, Italy Scholarships for foreign women in Italy – Tamaro Foundation Foreign women students whose families cannot provide financial support are forced to work during their studies. Earning a living can often take so much energy that there is scarcely any left over for studying. Many are not able to complete their studies, and shamed by this failure do not return home to their families. They strike out on their own, barely getting by in a foreign land. The Italian author Susanna Tamaro recognized these problems, and the danger that young women students face. She has decided to support some of these foreign women with a program of annual scholarships. This investment also constitutes an effective contribution to development aid; it only considers candidates who are committed to returning to their home countries and making a contribution to society. In 2008, the Tamaro Foundation funded 10 young women from Albania, Romania, Burundi, Peru, China and Cape Verde. They are studying at universities in Rome and Milan. While they are studying, they are supported by the Franciscan Sisters who mentor them and help ensure that their stipends are utilized to full advantage. Project costs Local partners Limmat’s contribution

EUR 175,000 EUR 62,500 EUR 112,500

Projects for Adults

LIMMAT STIFTUNG • ANNUAL REPORT 2008

AFRICA Kinshasa, DRC CEPPHY: Hygiene – an efficient preventive measure – Cecfor Hygiene is a preventive measure for health maintenance that can very often mean the difference between life and death. Lack of hygiene can lead to infectious diseases such as typhus, diarrhea, tuberculosis, malaria, and the list continues. In many places in Africa, consistent bodily hygiene, garbage disposal, clean water, etc. are not to be taken for granted. To increase the awareness of this connection, and to establish concrete everyday measures in this regard, the Monkole Hospital in Kinshasa has initiated the CEPPHY project: Cellule pour la Promotion des Pratiques d’Hygiène (Health and Welfare Practices and Promotion Group). The Nursing School ISSI is taking the lead in this prevention program. For many years, the Limmat Foundation has supported ISSI by funding nursing scholarships. This nursing school is attached to the Monkole Hospital, and hygiene has long constituted part of its core requirement. The project trains instructors who can teach the populace how to protect their health by implementing these preventive strategies.

➜

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Since the personnel of many African hospitals regretfully have minimal knowledge of disease prevention, germs are often spread through instruments, ventilation systems, laundry, food, etc. The educational project CEPPHY is also forming hygiene committees at 18 other hospitals with the aim of improving hospital hygiene. As a first step, it will train 150 teachers for hospital care, to quickly establish a multiplication effect. The project will reach a total of 5,000 hospital professionals and 3,000 students. It will also continue beyond any particular course of studies, so that the standard of hygiene can be sustainably maintained. The project is coordinated by the IECD (Institut Européen de Coopération et de Développement, Paris), and is co-financed by the European Union. The Limmat Foundation is contributing with a gift of EUR 35,000, granted by the Tamaro Foundation. Project costs (3 years) European Union IECD contribution Limmat’s contribution

EUR 450,000 EUR 339,000 EUR 76,000 EUR 35,000

Kinshasa, D. R. Congo Construction of the Mère et Enfant Hospital Scholarships for the Nurses of Monkole – Centre Hospitalier Monkole Average life expectancy in the Democratic Republic of Congo is 45 years; child mortality is approximately 20.5%. One of the causes of this is the poor medical care. There are infirmaries, but the poisonous mixture of corruption and apathy destroys many a well-intentioned initiative in the DCR. In order to effectively improve this situation, the choice of a reliable and competent Congolese local organization is crucial. The Centre Congolais de Culture, Formation et de Dévelopement (CECFOR) is a trustworthy partner with which the Limmat Foundation has successfully collaborated over the years. In 1991, CECFOR opened the Monkole Day Hospital on the outskirts of Kinshasa, in the Mont-Ngafula slum (population 250,000). The 24-bed hospital very quickly reached full capacity. Thanks to the support of many international aid organizations, it has since been able to expand. In the areas of internal medicine, pediatrics, gynecology and surgery, it is now regarded as a modern, well-operated hospital. With Monkole as the central point of reference, CECFOR has also established other projects: • 3 external infirmaries in rural areas • a nursing school (ISSI) with an attached residence hall • the educational center CEFA, which provides continuing education to doctors and nursing staff from other institutions • nursing care for AIDS patients • an external surgical center • a program for the preventive care of school children • an educational program for their teachers.

LIMMAT STIFTUNG • ANNUAL REPORT 2008

The Limmat Foundation has supported many of these programs in previous years. In 2008 it financed 12 scholarships at the nursing school, co-financed the expansion of the Mère et Enfant clinic and invested in Monkole’s newest project: CEPPHY, a continuing education project for medical personnel from the entire region (see page 23). Neubau Spital Hospital Expansion costs 2008 Official Development Agencies and other sources Local contribution Limmat’s contribution

CHF CHF CHF CHF

Renovation/furnishing of an annex surgery/outpatient clinic Project costs 2007-2009 CHF Official Development Agencies CHF Local contribution CHF Limmat’s contribution CHF 12 Nursing School scholarships

CHF

3,000,000 2,364,000 300,000 335,400 1,046,000 777,000 157,000 112,000 6,760

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Yaoundé, Cameroon Mater Misericordiae Hospital – Dominican Congregation The people of Cameroon are poor, most of them very poor. There is no such thing as health insurance. Many hospitals turn away anyone who cannot pay for medical care. It is not unusual for the sick to die before the doors or in the hallways of a hospital. In a suburb of the capital city of Yaoundé, in De Mvog Betsi, there is an outpatient clinic where such injustices do not happen. The nurses of the Dominican Congregation treat any person who needs medical care in this hospital, even if the patient cannot pay for the care. Since the facilities of this clinic do not suffice for the great need, its board has decided to build a new facility with 66 beds, which will offer services in internal medicine, general surgery, orthopedics, opthalmology, maternity and gynecology, and pediatrics. The Limmat Foundation contribution financed the purchase of a mobile CPR unit with a cardiotocograph machine. The technical machinery of the Centre Hospitalier Dominicain corresponds to the needs of the region. The goal is to provide good medical care at affordable cost. The Swiss branch of Human Life International is supporting this project. In 2008 it sent a delegation of trained personnel to supervise the equipping and the opening of the hospital. Project costs CHF 45,000 Local partners and government agencies CHF 25,000 Limmat’s contribution CHF 20,000

Nairobi, Kenya Women empowerment – HLI Kenya Protecting life is the primary concern of HLI Kenya. It supports expectant mothers and organizes educational courses and information programs. The Limmat Foundation has financed a bus for these educational purposes. Representatives of HLI-Kenya use it to travel across the country and hold workshops for women on the topics of natural family planning, love and education. Project costs CHF 20,000 Local partners and government agencies CHF 5,000 Limmat’s contribution CHF 15,000

LIMMAT STIFTUNG • ANNUAL REPORT 2008

AMERICA Cali, Colombia Community and Educational Center Comuna 18 – Fundación Carvajal Comuna 18 lies on the eastern outskirts of Cali. More than 150,000 inhabitants live there, broken up into poor and very poor neighborhoods. The Pampas del Mirador is one of these slums. Shack upon shack cling to the side of a steep hill. When it rains, more than one of these houses has been known to collapse, carrying its inhabitants to their death. The settlement is illegal. Those who live here belong to the lowest rungs of the social ladder. They are people who have been driven from their homes in the country by the armed conflicts between guerillas, paramilitary, military and police. They are internally displaced: no means of existence in the country, no luck (as yet) in the city. Nothing deserving the name “infrastructure” exists in the Pampas del Mirador. There are no employment opportunities for its inhabitants and hardly any schools. The results of this are crime, domestic violence, malnourishment, illiteracy and drugs. These circumstances can only be changed if help is offered on many different levels simultaneously. The local partner of the Limmat Foundation, the Fundación Carvajal, has begun the process by breaking ground on a community and educational center. This experienced, professional foundation is building a multi-story community center in the middle of the slum. The center will provide classes in professional education and entrepreneurial counseling for the inhabitants of Comuna 18, qualifying them to find better employment opportunities both in the short and in the long term. The project suffered a setback: shortly before the start of construction, squatters occupied the land. Hoping to avoid a violent end to the unlawful tenancy, the project director worked to reach a mutual agreement with the squatters. These negotiations dragged on to the end of 2008. When the community center is finished at the beginning of 2010, it is estimated that in a three year period 9,200 persons will be able to make use of offerings such as a library, internet-access and community rooms. 695 persons will have used the workshops and attended vocational training courses, and 425 persons will have started a micro-enterprise. Project costs (3 years) EUR 827,000 Local partners and government agencies EUR 260,000 Actec/Belgian government contribution EUR 460,000 Limmat’s contribution EUR 107,000

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Cali, Colombia Educational Center for Women – Fundación Los Valles Graduates of the educational center Los Valles are women of every age. This includes many single mothers. Most of these come from the Aguablanca slum in Cali and are unemployed or underemployed in poor jobs because they have neither profession nor solid education. Los Valles offers courses in the industrial arts such as embroidery, patchwork, wood carving, silk painting, Christmas ornaments, curtain making etc. To become certified in, e.g., millinery, dressmaking, cooking, fine purse making, floristry or cosmetology, the women must have completed 1,160 units, including seminars in personality development (self-confidence, education, family, conflict resolution, family violence, values, life goals) and business management (administration, commercialization of products, bookkeeping, sustainability). Products from the students of Los Valles are profitably sold. The presentations of their semester projects are media events. Local wholesalers gladly take their crafts and decorative items because they not only correspond to the local taste, but are also of superior quality. In 2008 the center was still provisionally housed. The Limmat Foundation, working with the Association GemPro, which is supported by the care group Global Sustainable Fund of Funds, financed the construction and furnishing of a new building that was habitable by the end of the year. The new building accommodates 800 women. The center has also begun offering a consulting service for established or prospective small-scale entrepreneurs. Working together with specialized partner institutions, Los Valles also facilitates access to microcredit start-up funds for its graduates. Project costs CHF 235,000 Local partners and government agencies CHF 125,000 Limmat and GemPro’s contributions CHF 110,000

San Vicente de Cañete, Peru Reconstruction of Homes after the Earthquake– Condoray When a terrible earthquake on the coast of Peru killed hundreds of people and destroyed innumerable homes in August 2007, the Limmat Foundation quickly responded with an emergency gift of EUR 21,000. Taking the lead in the aid operation was one of Limmat’s partner organizations, the Centro de formación profesional para la mujer - Condoray, from San Vicente de Cañete, which lies only 50 kilometers north of the epicenter. With a further gift of EUR 123,000 from the Limmat Foundation, the Center has initiated a reconstruction project to rebuild the homes of 50 families whose houses were completely destroyed by the earthquake. These families come from the lowest income level, and have not received aid from any other institution. Because of problems demonstrating ownership, it took a while before the construction could begin. But very soon after this was resolved the first of the 33 square meter houses were habitable. They are built of earthquake-resistant bricks, and can be modularly enlarged. The total cost per house is EUR 8,313, of which Limmat provides EUR 2,460 and Condoray EUR 1,050. The Peruvian government is paying 46% (EUR 3,800) of each house. Thanks to the government

LIMMAT STIFTUNG • ANNUAL REPORT 2008

subsidy, the self-financed portion of the house is greatly reduced. The Condoray program expects each future inhabitant of the house to make a financial contribution of EUR 460, and they make a further EUR 540 contribution in the form of helping with the construction. These conditions not only increase the stake that each owner has in his home, but also help prevent corruption. The Limmat Foundation’s Project Director inspected the first six of the houses while they were still under construction in February of 2009. These were turned over to their owners in March of 2009. The rest of the houses should be completed by the end of 2009. Project costs Peruvian government contribution Local partners Limmat’s contribution

EUR EUR EUR EUR

415,000 190,000 102,000 123,000

Quelzaltengo, Guatemala Micro-credit for Women Entrepreneurs – Fundap The rural highlands of Guatemala are primarily populated by the Maya, most of them poor and 60% of them extremely poor. They cannot afford fertile land and are reduced to growing corn, beans, rice, sorghum and potatoes for their own needs on otherwise abandoned plots of land. Poverty and origins also bars their access to commercial credit. To enable this ethnic group to participate in the economic community, the “Bancos Comunales” were established in certain communities of Guatemala with the help of NGOs. These are rotation funds that provide low-interest start-up financing for a retail store, a craft studio, or home improvement for the poorest of the poor. 20-30 women take part in each fund. The borrowers slowly pay back loans of 150-300 euros with interest, thereby enlarging the fund. Eventually the fund will be large enough to meet the needs of its members, and these members will be able to operate it without the aid of outside financial support. The distribution of micro-credit is a main focus of the activities of Fundap (the Foundation for the Integral Development of Socio-economic Programs). This Guatemalan foundation was founded in 1982 by a group of businessmen and has extensive experience with development projects that promote self-determination, responsibility and entrepreneurship, particularly among women. The actual project, “Mujer empresaria” (Entrepreneurial Woman), goes beyond the distribution of micro-credit. The experience of the last few years has shown that poverty can be sustainably overcome when unhindered access to financial services is coupled with practically oriented training. Therefore, Fundap gives these women entrepreneurs courses in credit management, which teach them administrative business management as well as strategic management. In joint venture with the Belgian NGO Actec, the Limmat Foundation is supporting the “Mujer empresaria” project, which is also being co-financed by the Belgian government. Project costs Actec/Belgian government contributions Beteiligung durch andere Limmat’s contribution

EUR 560,000 EUR 448,480 EUR 36,450 EUR 75,670

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Alotenango, Guatemala Building a Village in Alotenango – Fondazione Jepa – Limmat Stiftung The Jepa Subfoundation combines the most advanced modern techniques with the everyday realities of developing countries. To transfer this technology successfully, the local authorities and/or representatives of the local educational elite must be included in the initial planning phase. It often happens that as a result of this discussion, the plan is altered and improved. The goal is to make the project self-sufficient as quickly as possible. Working together with the Alotenango municipality and the San Carlos University, the Jepa Foundation has supported in 2008 the development of 80 houses for the needy. Each house has a floor space of 50 square meters, and can be modularly enlarged. Thanks to solar collectors, a bio-fuel plant, a water treatment facility and a reservoir, the inhabitants are self-sufficient when it comes to energy and hot water. Each house costs about USD 4,000. Thanks to the low-cost financing model, which projects a 10-year repayment on the loan, the houses are affordable even for the poor. Project Alotenango

CHF

14,825

ASIA Kazakhstan / Rome, Italy Research Scholarships – Fondazione Jepa – Limmat Stiftung Since 1994, the Jepa Foundation, a subfoundation of the Limmat, has been giving annual support to researchers from developing countries continuing their education in the industrialized world. Preference is given to projects that are important for the developing countries but are not given enough support there. Scholarships are awarded on the condition that the recipient returns to his or her home country after the course of research is completed. In 2008 the Limmat Foundation supported four scholarships in medical research. Three doctors from Kazakhstan completed continuing education courses in anesthesiology and resuscitation at the University of Rome. A kidney specialist from Mongolia came to study internal medicine, also in Rome. Limmat’s scholarship contribution

CHF

6,400

LIMMAT STIFTUNG • JAHRESBERICHT 2008

EUROPE Corfu, Greece Home for the Aged – Catholic Archdiocese Corfu Until recently, care for the elderly was not common in poor countries, and was in many cases impossible, since people weren’t able to earn enough to set anything aside for it. On the island of Corfu, elderly with little or no pension income live in the Theotoki Home for the Aged. Regardless of their religion, they are cared for by the Catholic Sisters of the Order of Malta. Thanks to a gift from the Limmat Foundation, the sisters were able to complete the expansion of their facility in 2008. The home can now accommodate 27 persons. Project costs Local partners/other sources Limmat’s contribution

EUR 800,000 EUR 610,000 EUR 190,000

Luzerne, Switzerland Support for Expecting Mothers – Ja zum Leben The Maria Christina Subfoundation has been supporting the organization Ja zum Leben (“Yes to Life”) for several years with a small annual gift. This organization supports women who are in a difficult situation because of a pregnancy. Thanks to intensive support and vocational training, these expectant mothers are able to envision new life prospects for themselves and for their children. Ja zum Leben Luzerne operates an emergency counseling hotline for mothers, housing and employment services, and educational placement. Limmat’s contribution

CHF

5,000

Rome, Italy Refugee Home La Casa di Marco – Centro Arrupe The Centro Arrupe is a project of the Jesuit Refugee Service. This international aid organization is represented in 50 countries, assisting refugees and migrants and advocating for their rights. In the last 8 years, the center has been able to help 1,500 refugees. Attached to the center is the Casa di Marco where mothers and children in difficult financial situations are taken in and cared for in a family setting. The Italian author Susanna Tamaro’s fund is one of the various sponsors supporting this home which was enlarged in 2008 thanks to the help of volunteers. Project costs Local partners Limmat’s contribution

EUR 38,550 EUR 20,550 EUR 18,000

EVENTS

13th Esmeralda Charity Cup 2008 450 men and women golfers participated in the 2008 Esmeralda Charity Cup for the Street Children in Colombia. This 13th season ended successfully on October 1st, at the GC Heidental. The final challenged even the expert golfers, as pin flags stood out stiff in the cold wind. For once, there were no albatrosses or eagles flying over the fairway. Instead of birdies, shots gone astray landed in the ponds or were lost in the rough. But finally, the tenacity of the 32 finalists and 44 guests paid off. In the afternoon, the sky cleared up; the sun began to warm frozen fingers and feet. The interplay of light and shadow as the clouds rolled away created that backdrop always so impressive at the GC Heidental, at the southern foot of the Jura. Proceeds from the tournament, doubled by the main sponsor, are used as always to help the street children of Colombia. This year the tournament raised around CHF 105,000. The income will fund the following projects of the Limmat Foundation: • The construction of carpentry, electrical wiring and auto repair workshops at the Bosconia-Marcelino School in Cali, a boarding school for 120 former street children (see page 18). • The establishment of the “Línea 106” child helpline in two new Colombian cities (see page 5) . The dedication of the Esmeralda community has not escaped the notice of the Colombian government. Colombian ambassador her Excellency Claudia Jimenez traveled from Bern to Heidental to personally participate in the gala event closing the tournament, and to thank everyone on behalf of the street children of her country. This year again, the efforts of the participants were rewarded, indeed even more amply than in the past. The tournament for the street children can count itself lucky that for all these years many sponsors have remained true to supporting this cause, generously donating highly desirable prizes for the qualification rounds and the fi-

LIMMAT STIFTUNG • JAHRESBERICHT 2008

nal round. The main sponsor was the Crédit Agricole Private Bank (Switzerland). In 2008, the Spanish Tourist Agency, Internet Services, Christinger AG, Pyramide Klinik am See, Victorinox, Hotel Sofitel Santa Clara and the magazine Golf Leader also made large contributions. Co-sponsors included Paul Michel, Caran d’Ache, Lindt, Dior, Mila d’Opiz, Estée Lauder, Artigiano, Zerres, MacGolf, GeschenkIdee, Koviss Golf, De’Shama, Château André Ziltener, Swiss Golf, Nissan and Avianca. The fashion label Clover showed its golf collection, and cellist Jona Iten earned great applause for his performance.

Karl Lukas Honegger Patronage The painter and sculptor Karl Lukas Honegger (1902-2003) was posthumously honored in 2008 by having a square in his hometown of Herrlibreg named after him. The Karl-Lukas-Honegger Square was officially dedicated on an unseasonably cold morning in September. Rolf Jenny, the mayor of Herrliberg, and Paul von Arx, president of the Friends’ Association Karl Lukas Honegger, paid tribute to the artist, whose memory and wideranging work are being held in trust as a subfoundation of the Limmat. Around 80 guests, including former member of the Swiss federal council and Herrliberg resident Christoph Blocher, attended the unveiling of the sign “Karl-Lukas-Honegger-Platz” and the sculpture “Girl picking flowers” which stands close by. Honegger’s work was also honored at two expositions. The first was in February 2008 at the Kulturschiene, Herrliberg, the other just before Christmas at the Im Bettli gallery in Dübendorf. Both exhibits attracted many visitors. The world premier of two films by Wolfgang Scharf marked the 106th birthday of the artist. During the 1990’s, Honegger had spent several days accompanying the filmmaker with his camera.

LIMMAT STIFTUNG • ANNUAL REPORT 2008

The Financial Crisis and the EndowmentS Collapse of the Easy Money Culture In the autumn of 2008, the financial crisis reached a level that almost no one had foreseen. After the correction in the American real estate market beginning in the summer of 2007 came the revelation that many major banks were also deeply engaged in this risky sector. A chain reaction followed, and confidence in financial institutions progressively eroded. Confidence, however, is fundamental for a functioning economy. The financial crisis of 2008 was a consequence of an unbridled „culture of easy money, of greed and consumerism.“ Seen in this light, the crisis is also something good: it has forced a return to authentic values and an authentic economy, in the sense of a real creation of value.

• Indexed investment performance of the Foundation and Subfoundations’ endowment (31/12/87 = 100) 600

450

300

150

0 1987

1990

1993

1996

1999

Stocks in spite of it all There have always been disruptions in the stock market. The collapse of stocks in 2008 was, however, the largest move downwards in many decades. Nonetheless, stocks remain as a rule a good investment, reflecting the formation and anticipation of real value creation. Over short and medium-range time frames their fluctuations can be very unpleasant, as we saw in 2008; over the long-term (viewed over a period of decades) stocks still outperform other investment categories, such as bonds. From this perspective, it makes objective sense to invest a part of the Foundation’s long-term invested funds in stocks. So, “being there”, even when it’s something of a roller coaster ride, is not the worst of strategies. The last 10 years are a lost decade, with zero performance. The average yearly performance of the Limmat Foundation from 1999 to 2008 amounts to only +1.1%. Looking at the last 20 years (1989 to 2008), this performance nonetheless comes to +13.7% (see graph). 2002

2005

2008

Donations for the most part unaffected The significance of this: what was lost in a bad year was not donated monies, but the earnings of earlier years. A concrete example: in 1996 a subfoundation was founded within the Limmat Foundation with a donation of 5.6 million francs. Through the end of 2008, this subfoundation funded 5.7 million worth of projects, and there still remains, thanks to productive investments, 2.1 million in the subfoundation. The long-term investment returns have enabled over time an additional 2 million francs of project support: 35% more than the amount originally given by the donor. Some donations were placed, with the agreement of the donors, in earmarked funds that were invested in securities. In such cases, it is understandable that the crash of 2008 has occasioned non realized losses. These funds are likely, however, to return to their previous nominal value in a few years. Most donations are, however, tied at face value to their intended purpose, and were not affected by the stock market. The return to trust How long the crisis and its painful consequences, such as the rise in unemployment, will last is hard to say. But as soon as confidence can be restored, the market can begin to hope for a normalization of the economy. Foundations with long-term goals should not at that point miss the train.

LIMMAT STIFTUNG • ANNUAL REPORT 2008

LIMMAT STIFTUNG â&#x20AC;˘ ANNUAL REPORT 2008

Annual Financial Statement and Efficiency Report 2008 The Annual Financial Statement of the Foundation (project center and sub-foundations) was written and revised according to the recommendations of the Swiss GAAP FER. In the following we publish the Annual Financial Statement of the project center.

Balance Sheet

Note 12/31/08 12/31/07 CHF CHF ASSETS Liquid assets and long-term deposits 1 3,870,545.22 5,794,736.21 Receivables 179,687.15 307,026.98 Prepaid expenses and deferred receivables 30,170.50 41,033.00 Receivables from sub-foundations 0.00 94,611.90 Current assets 4,080,402.87 6,237,408.09 Real estate 2 2,680,000.00 2,460,000.00 Securities 1 10,082,414.71 15,638,366.66 Loans 84,000.00 168,000.00 Non-current assets 12,846,414.71 18,266,366.66 Total Assets 16,926,817.58 24,503,774.75 LIABILITIES Payables to sub-foundations 217,781.44 Payables 13,550.96 Deferred revenue and accrued expenses 0.00 Short-term borrowed capital 231,332.40 Mortgages 2 500,000.00 Provisions 3 0.00 Long-term borrowed capital 500,000.00 Original Endowment 100,000.00 Capital earnings 20,895,193.94 Annual result -4,799,708.76 Foundation capital as at 12/31/08 4 16,195,485.18 Total liabilities 16,926,817.58

0.00 8,580.81 8,580.81 900,000.00 2,600,000.00 3,500,000.00 100,000.00 20,336,977.98 558,215.96 20,995,193.94 24,503,774.75

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Notes I. Goal of the Limmat Foundation The Limmat Foundation acts exclusively for non-profit ends within and outside of Switzerland, namely, any kind of support for the needy, both individuals and nonprofit institutions (art. 3 of the Foundation Charter). II. Statement of principles for financial reporting The statement of principles for the financial reporting can be found at www.limmat. org/PFR. III. Line item explanation of the balance sheet 1. Liquid assets and securities Securities are valued according to current market value. Therefore, on the liabilities page, a provision for market price fluctuation will be shown (cf. note 3). The securities are part of the fixed assets, and therefore appear in the Financial Report under that heading. The accrued interest of CHF 17,090.00 as of 31.12.2008 are included in the prepaid expenses and deferred receivables 2. Real Estate Rosenbühlstrasse 32, 8044 Zürich (Foundation domicile) (in CHF) Date of Building latest appraisal Book (carrying) value 1/1/08 2,360,000.00 Additions 220,000.00 Book (carrying) value 12/31/08 2,580,000.00 Cumulated Depreciation *) 0.00 Net Value 12/31/08 2,580,000.00 Mortgages 500,000.00 Insurance/Replacement (Current) value 03/06/09 3,269,800.00 Estimated curent market value 02/03/06 *) Because of the low appraisal value of property, no depreciation is necessary. 3. Provisions There is a targeted provision for market fluctuations of approx. 12% of the invested assets (net current assets + securities). Due to the negative result of 2008, the provision of CHF 2,600,000 has been completely dissolved. 4. Capital Original endowment: CHF 100,000 on 3/13/1972. Capital earnings do arise from donations, but for the most part are a result of the financial gains (less administration costs) of the Foundation (project center) since 1972. Organizational capital (Project Center) is not intended for projects, but for the infrastructure of the foundation.

Furniture & Fixtures 100,000.00

100,000.00 0.00 100,000.00 250,000.00

Total 2,460,000.00 220,000.00 2,680,000.00 0.00 2,680,000.00 500,000.00 3,519,800.00 5,980,000.00

LIMMAT STIFTUNG â&#x20AC;˘ ANNUAL REPORT 2008

Annual Statement of Account

Note

2008 CHF

Contributions from public institutions 2,362.40 Project-related contributions for administration 24,820.00 Contributions and fundraising 27,182.40 Human resource costs 5 -139,875.00 Travel and representation costs -22,508.95 Indirect project costs -162,383.95 Statement of Foundation Activity -135,201.55 Human resource costs 5 -535,366.95 Travel and representation costs -13,814.65 Informational material and conferences -21,766.00 Information technology and office machines -43,036.20 Financial audit -25,748.35 General office and administration costs -27,635.35 Administrative costs -667,367.50 Rental income 22,000.00 Real estate expenses -36,699.84 Net real estate expenses -14,699.84 Statement of Administration -682,067.34 Earned income on liquid assets and long-term deposits 117,398.20 Securities earnings 238,987.73 Financial Earnings 356,385.93 Bank fees, commissions, deposit fees -34,216.93 Market-value adjustment for securities -6,668,216.62 Market-value adjustment for currency -614,631.08 Net market-value adjustment -7,282,847.70 Results Assets Management -6,960,678.70 Real Estate adjustment -36,079.25 Financial Result -6,996,757.95 Earnings from services to third parties 16,763.70 Other Results 16,763.70 Annual Result before Allocation of Funds -7,797,263.14 Variations in provisions 3 2,600,000.00 Sub-foundation contributions to the project center: -according to project expenditure 364,134.98 -according to capital or financial result 33,419.40 Total Allocation of Funds 2,997,554.38 Annual Result -4,799,708.76

2007 CHF 0,00 7,640.00 7,640.00 -100,465.00 -12,820.60 -113,285.60 -105,645.60 -548,712.20 -16,117.81 -23,111.55 -6,450.30 -25,157.45 -28,569.65 -648,118.96 22,000.00 -42,880.50 -20,880.50 -668,999.46 141,216.23 223,106.47 364,322.70 -47,286.80 834,527.95 -203,447.81 631,080.14 948,116.04 -50,582.13 897,533.91 17,981.05 17,981.05 140,869.90 -100,000.00 173,340.02 344,006.04 417,346.06 558,215.96

LIMMAT STIFTUNG • ANNUAL REPORT 2008

IV. Line item explanation of the profit and loss account 5. Human Resource costs (Human Resource in CHF) Indirect project costs Administrative costs Total Human Resource

138,875.00 535,366.95

Human Resource for project management Other Human Resource

Wages Social Insurance Training

674,241.95

Total

586,679.60 81,241.90 7,320.45 675,241.95

All employees (4.5 full-time positions) are employed with full benefits. The members of the Board do not receive compensation. V. Further disclosures Founder: The Limmat Foundation was founded in 1972 by Dr Arthur Wiederkehr (Zürich, +2001). Compensation: Members of the Board of Directors receive no compensation from the foundation. They are reimbursed only for travel costs and other foundation-related expenses. Volunteer work: Friends of the Foundation also provide non-compensated services such as project visitation and collaboration. This volunteer labor amounted to approximately 585 work hours in 2008. Related organizations: The Limmat Foundation is independent. Close contacts are maintained with partner organizations, but this independence is nonetheless safeguarded. The Limmat Foundation is also a member of proFonds, the umbrella organization for philanthropic organizations in Switzerland. VI. Efficiency Report In the following, a series of graphics will illustrate and analyze the consolidated achievement of the Limmat Foundation.

HIGHLIGHTS Financial «highlights» of the Limmat Foundation (Project Center and sub-foundations) in CHF 1,000 2008 Contributions received Loans repayed Total income for projects Contributions to projects Loans granted to educational projects Total for project support Return on Investments: 10-year average Return on Investments: 20-year average Operational «highlights» Number of ongoing projects Countries in which the Limmat Foundation has funded projects Countries with ongoing projects Full-time employees Sub-foundations within the Limmat Foundation Earmarked Funds

2,249 6,096 8,345 4,664 9,009 13,673 1.1% 13.7%

2007

5-yr average

1,433 4,996 6,429 3,524 1,001 4,525 5.6% 19.5%

2,100 4,800 7,000 4,200 3,200 7,400

2008

2007

51 67 17 4.5 12 40

44 67 20 4.3 12 38

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Projects and Beneficiaries Contributions of the Limmat Foundation according to Project Category and Continent, 2008 (without loans) HA DC OCDE HA Total HA DC Total DC OCDE Total OCDE Total

Humanitarian aid Development cooperation Philanthropic projects in industrial countries in 1,000 CHF Continent Project type Africa Asia Latin America Europe Care of needy children 5 Humanitarian projects 487 355 492 355 0 0 Care of needy children 289 Care of needy persons 94 28 Medical care 433 Vocational education for youth 95 115 Vocational education for youth + microcredits 92 Vocational education for adults 50 373 Vocational education for adults + microcredits 54 175 Education of educators 50 672 54 1122 0 Care of needy persons 160 Humanitarian projects 5 Medical care 2 Vocational education for youth 985 Education of educators 793 0 0 0 1945

1164

409

• Type of projects according to contribution volume 2008 Care of children / former streetchildren 6% Training of trainers 18%

Vocational education adults + microcredits 5% Vocational education adults 9% Vocational education youth + microcredits 2%

Training of trainers 7%

Vocational education adults + microcredits 31%

Care of the needy 6% Health care 9%

Humanitarian Projects 18%

Vocational education youth 27%

Care of children / former streetchildren 15%

Care of the needy 4%

1122

1945

Total 5 843 848 289 122 433 210 92 423 229 50 1848 160 5 2 985 793 1945 4640

Health care 9%

Vocational education adults + microcredits 5%

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Training of Vocational trainers 7% education adults 9%

Humanitarian Care of children / former streetchildrenProjects 15% 18%

Vocational education Vocational youth + microcredits 2% education adults + microcredits 31%

Care of Vocational the education needy youth 4% 27%

• Humanitarian Aid and Development Cooperation Projects 2008: 25,000 Beneficiaries Health care 11% Vocational Training of education trainers 7% adults 12%

Humanitarian Care of children Projects 1%/ former streetchildren 15% Vocational education youth 17% Care of the needy 4%

Vocational education Vocational youth + education microcredits 2% adults + microcredits 31%

Health care 11% Limmat: CHF 4,605,000Humanitarian 29%

Others:Vocational education CHF 3,272,000 21% adults 12%

Projects 1%

Vocational education youth 17%

Vocational education youth + microcredits 2%

Care of children / former streetchildren 6% ODA: CHF 3,071,000 19%Limmat: CHF 4,605,000 29% Care of the needy 6%

Local partners: CHF 4,846,000 31% Training Others: of trainers 18% CHF 3,272,000 21%

• Projects 2008: 66% of the beneficiaries are women 8’000

Health care 9%

Vocational education adults + microcredits 5%

7’000 6’000

Vocational education adults 9% Local partners: CHF 4,846,000 31% Vocational education

5’000 4’000

Humanitarian Projects 18% ODA: CHF 3,071,000 19%

youth + microcredits 2%

3’000

Vocational education youth 27%

2’000 1’000 -

8’000 7’000 Care of children /Training Care of of 6’000 former the7% needy trainers streetchildren 5’000

Women 4’0002,116 3’0001,804

Men

2’000

Health care

Vocational education youth

Vocational

263

2,218

275

1,700

7,585

142

1,070

120

2,100

275

1,285

315

1,602

Care of the needy

Care of the needy 4% Administration and Project Management CHF 841'000 (10.1%) Health care Humanitarian

youth + microcredits 2%

Projects

Bookkeeping and Financial Management 1.6% Health care 11% Vocational Vocational Vocational Vocational Humanitarian education youth education youth education adults education adults General Administration Projects 1% + microcredits + microcredits

4.5%

263

2,218

275

1,700

7,585

142

1,070

120

Vocational 2,100

275

1,285

315

1,602

education youth 17%

ProjectManagement 1.9%

External contributions Local partners: CHF 4,846,000 31% Donations to projects 46,9%

600 8’000 7’000

5’000

Net financial result

4’000 900 3’000

ProjectManagement 1.9%

Bookkeeping and Financial Administration and Management 1.6% Project Management Limmat: CHF 841'000 (10.1%) CHF 4,605,000 29%Information and Fund Raising 2.1% General Administration 4.5%

Contributions to projects CHF 7.4 Mio (89.9%)

b-foundation contributions cording to capital financial result

Training of trainers

1,880

Loan granted to educational Others: projects 38.6% CHF 3,272,000 21% Donations to projects 46,9%

6’000 b-foundation contributions 300 r project work

Training of trainers

1,880

• Breakdown of financing 2008 2,116 689 only projects by donations Women supported Vocational education 1,804 254 Total CHF 15,8 M. Men

et financial result project center

Vocational

689

Loan granted to / Vocational educational Care of children education projects 38.6% former streetchildren adults 12%

900

Vocational

Care of childreneducation / formeryouth education adults education adults + microcredits + microcredits streetchildren 15%

254 Vocational education adults + microcredits 31%

1’000

Contributions to projects CHF 7.4 Mio (89.9%)

Humanitarian Projects

External contributions

ODA: CHF 3,071,000 19%

Information and Fund Raising 2.1%

Local partners: CHF 4,846,000 31%

6’000 LIMMAT STIFTUNG • ANNUAL REPORT 2008 5’000

ODA: CHF 3,071,000 19%

4’000 3’000

8’000

2’000

7’000

1’000

6’000

5’000 Administration Costs and Care of children / Care of 4’000 Health care former the needy Projects Volume streetchildren

Humanitarian Projects

Vocational education youth

3’000

1,880 263 2’000 Women • Total Expenditures CHF 8.3 Mio. (Annual Average 2004-08)

Men

2,116

689

1,804

254

1’000

1,070

120

Vocational Vocational Vocational education youth education adults education adults + microcredits + microcredits

Training of trainers

2,218

275

1,700

7,585

142

2,100

275

1,285

315

1,602

Care of children / Care of Health care Humanitarian Vocational Bookkeeping and Financial education youth Administration and former the needy Projects Management 1.6% streetchildren Project Management

Loan granted to educational projects 38.6%

Women

2,116

Men

1,804

Contributions to projects CHF 7.4 Mio (89.9%)

CHF 841'000 (10.1%) 689

1,880

263

254

1,070

General Administration 120 2,100

2,218

4.5%

275

1,700

275

1,285

Bookkeeping and Financial Administration and Management 1.6% Project ManagementProjectManagement CHF 841'000 (10.1%) 1.9%

Loan granted to educational projects 38.6%

Donations to projects 46,9%

Vocational Vocational education youth education adults ed + microcredits +

Information and Fund Raising 2.1%

General Administration 4.5%

ProjectManagement 1.9%

Contributions to projects CHF 7.4 Mio (89.9%)

Information and Fund Raising 2.1%

External contributions Donations to projects 46,9%

• Project Center: 900 Financing of the Administration Costs (2008) Net financial result Total CHF 841,000, incl. project management of project center 600

External contributions Sub-foundation contributions 300 for project work Sub-foundation contributions according to capital or financial result

900 Net financial result of project center

600

0 Revenues

Administration and Project management

Sub-foundation contributions 300 for project work Sub-foundation contributions according to capital or financial result

0 Revenues

Administration and Project management

The project center covers that portion of the expenditure that is not covered by sub-foundation contributions. Contributions of the Limmat Foundation for projects and project-related contributions of the sub-foundations to the project center: in 1,000 CHF Contributions to external project New loans Foundation projects Total

Project contributions Contributions for Administration 4,640 144 9,009 117 35 25 13,685 286

% 3.1% 1.3% 2.1%

Contributions Received and Expenses for Fund Raising and Communication: in 1,000 CHF Contributions received 2008 (gross) 2,259 Human Resource costs for fundraising, PR & communication 178 Average annual donations received 2004-2008 2,140

% 7.9%

LIMMAT STIFTUNG • ANNUAL REPORT 2008

Board of the Foundation and Management The Board of Directors numbered 9 members as at December, 31th, 2008: • • • • • • • • •

Dr. Hans Thomas (president) Elisabeth András (secretary) Henri des Déserts Dr. Cédric George Marguerite Juon Dr. Heinrich Liechtenstein Sabina Manassi Dr. Franz X. Stirnimann Andrea Vigevani

Appointment to the Board of the Limmat Foundation takes place every three years (election year: 2010). The 2008 Annual Board Meeting took place on April 15. Another meeting was held on November 11. The Commissions of the Board (Finances, Communication) hold also a meeting in November. Decisions about the projects were made by the members responsible for the sub-foundations. Management of the foundation is the responsibility of the project center: François Geinoz (Executive Director), Dr Franz Benito (Administration), Juan J. Alarcon (Project Director) and André Meier.

Patronage Committee The Limmat Foundation has a Patronage Committee which includes the following persons: • Jeroo Billimoria, President of Child Helpline International Foundation, Amesterdam (since 2008) • Prof. Ernst-B. Blümle, founder of the Verbands-Management Institut, University of Fribourg (until his death in April 2008) • Prof. Luis Fernando Cruz, former President, Fundación Carvajal, Cali, Colombia • Prof. J. Gregory Dees, The Fuqua School of Business, Duke University, USA (since 2008) • Jean-Pierre Hocké, former UN High Commissioner for Refugees • Dr. Mark R. Hoenig, managing partner, Egon Zehnder International • Nicolas Imboden (former Bundesrat delegate for trade agreements) • Dr. Arthur Loepfe, Swiss National Councillor (CVP) • Ueli Maurer, Swiss National Councillor (until his election as member of the Swiss Government in December 2008) • S.K.u.K.H. Archduke Rudolf of Austria • Prof. Edward Owczarczak, CEO Management Joint Trust • Otmar Sorgenfrei, former Executive Director, Fondation Nestlé Pro Gastronomia • Susanna Tamaro, author • Dr. Alfred Wiederkehr, lawyer • Pirmin Zurbriggen, Olympic gold medalist Dr. Fritz Tschui dies: On Friday September 19, 2008, after a serious illness, Dr. Fritz Tschui died at the age of 75. Fritz Tschui served on the Board of Directors of the Limmat Foundation from 1986 to 2004. Till his death he remained a member of the Esmeralda Subfoundation. We will always remember him with gratitude for his constant good humor, his positive thinking, and his deep connection with the Limmat Foundation.

Limmat Stiftung Rosenb端hlstrasse 32 CH 8044 Z端rich Tel.: +41 44 266 2030 Fax: +41 44 266 2031 www.limmat.com limmat@limmat.com Spendenkonto: PC 80-10060-3