MICROCAPITAL BRIEF: World Vision Microfinance Subsidiary, VisionFund Cuts Paper Annual Report, Announces Loan Portfolio of $341m in Electronic Formats Including IPhone App

VisionFund, the microfinance subsidiary of US-based Christian relief organization World Vision, has released its 2010 annual review. VisionFund has cut back the size of its paper report in favor of presenting its annual review in multiple mediums such as online and through Apple’s app store for access via iPhone.

The annual review consists of an externally audited financial review of VisionFund’s 40 affiliated microfinance institutions (MFIs). VisionFund reports total assets of USD 418 million, gross loan portfolio of USD 341 million and 638,000 active borrowers [2].

The annual review is accessible at: http://www.buildingonsolidfoundations.org/ and the financial review is accessible at: http://www.visionfundinternational.org/VisionFund/VisionFundweb.nsf/maindocs/A19B119E0F872CD488257849005B4731?opendocument

By: Alexandra Pattee, Research Associate

About VisionFund International: VisionFund International was created in 2003 as a wholly owned subsidiary of World Vision with the purpose of managing its microfinance institutions (MFIs). As of 2010, VisionFund had 40 affiliate MFIs, total assets of USD 418 million, an overall portfolio of USD 341 million and approximately 638,000 active borrowers.

About World Vision: World Vision is a private Christian relief, development and advocacy organization dedicated to alleviating poverty. It is active in three areas: providing immediate disaster relief; developing long-term, sustainable development programs; and sponsoring children in need. According to 2008 data from World Vision, the organization served 100 million people across 98 countries. During FY2010 World Vision raised USD 2.6 billion for gifts-in-kind and handled USD 304 million in food aid programmes. Total operating expenses during this period amounted to USD 1.13 billion. In 2003, World Vision created VisionFund International, a wholly owned subsidiary of World Vision with the purpose of managing its microfinance institutions (MFIs). https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=VisionFund+International

Sources and Resources:

[1] VisionFund Press Release, Submitted directly to MicroCapital.org

[2] VisionFund Annual Review, http://www.buildingonsolidfoundations.org/

MicroCapital.org Article, February 7, 2011, “Simon McKeon, Board Member of Nonprofit VisionFund, Named “Australian of the Year””, https://www.microcapital.org/microcapital-brief-simon-mckeon-board-member-of-nonprofit-visionfund-named-australian-of-the-year/

MicroCapital.org Article, November 9, 2010, “responsAbility Social Investments Invests $12.4m in Microfinance Institutions (MFIs) ProCredit Holding and Visionfund Cambodia”, https://www.microcapital.org/microcapital-brief-responsability-social-investments-invests-12-4m-in-microfinance-institutions-mfis-procredit-holding-and-visionfund-cambodia/

MicroCapital’s Microfinance Universe Profile: World Vision International, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=World+Vision

MicroCapital’s Microfinance Universe Profile: VisionFund International, https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=VisionFund+International

Browse the MicroCapital Universe and add your entry to the wiki at: https://www.microcapital.org/microfinanceuniverse/

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