2012 Annual Report - Cherie Blair Foundation for Women

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2012 Annual Report - Cherie Blair Foundation for Women

Annual Report and Accounts 2012


Report of the trustees for the year ended 31 October 2011

Contents

A message from the Chairman 1

A message from the CEO 2

Trustees’ report

Governance and management 3

Objectives and activities for the public benefit 4

Enterprise Development Programme 6

Mentoring Women in Business Programme 14

Mobile Technology Programme 16

Financial review 19

Future plans 21

Statement of trustees’ responsibilities 21

Independent auditors’ report 23

Statement of financial activities 25

Balance sheet 26

Notes to the financial statements 27

Reference and administrative details 37

Acknowledgements 38

Cover photo: Naasu G. Fofanah, Gender Affairs Specialist, Office of the President, Sierra Leone addressing a

group of women entrepreneurs in a networking workshop by AFFORD-SL in Eastern Sierra Leone,

photo by Priya Patel, Cherie Blair Foundation for Women


A message from the Chairman

As the global economic crisis continues, it is ever more important that we make

the most of women’s business potential. The Foundation has seen substantial

growth in the number of women entrepreneurs supported in the past year. To

date, it has reached over 23,000 women entrepreneurs across 50 countries.

It is inspiring to see what can be achieved through multi-sector partnerships.

The Foundation’s ability to convene organisations on a global scale and bring

about transformational initiatives is remarkable. Our Founder contributes

generously to these and our staff and supporters ensure their success.

Central to what we do is the formation of partnerships across sectors. Within

our charitable objectives we build broad alliances based on women

entrepreneurs’ needs and the private sector’s expertise. The Mentoring Women

in Business Programme benefits both mentors and mentees – one reason why

many corporate partners join us in this initiative. Our work with mobile

technology includes operators and manufacturers as well as national non-profit

organisations. We offer tailored business support through our Enterprise

Development Programme with the support of organisations across sectors and

around the world.

Rather than compete with other non-profit organisations, we welcome crossorganisational

liaison and learning. This open, collaborative approach is a key

factor behind the numbers we reach and the quality of our work. It has helped

women like Shilpa in India improve their confidence, Sahar in Lebanon get a

business loan and Louisa in Sierra Leone create employment opportunities.

Through collaboration with coalitions such as the Global Banking Alliance and

the Aspen Network of Development Entrepreneurs, we share ideas and work to

develop best practice.

This year we have been able to help thousands of women entrepreneurs and

we will continue to support many more in years to come. It is with great

pleasure that I present the Cherie Blair Foundation for Women’s annual report.

My thanks go to all who make our work possible.

Robert Clinton

Chairman

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A message from the CEO

Mary, one of the women entrepreneurs we work with in Kenya, owns and

manages a sanitation business – not the usual path for a Kenyan woman. She

initially struggled to substantially increase her sales but since getting involved

with the Foundation, she has obtained new contracts, hired three new

employees and made significant investments for the development of her

business.

The Cherie Blair Foundation for Women has focused on reaching more women

like Mary. This year we have significantly increased our charitable expenditure.

We have focused on further developing our three core programmes with the

aim of supporting women entrepreneurs to build their confidence, capability and

capital. This includes several in-depth research projects and the development

of a strong monitoring and evaluation framework.

Our Enterprise Development Programme strategy was developed this financial

year and promises to reach 3,500 women in total in the next three years. Our

Mentoring Women in Business Programme has been further developed based

on lessons learned in the previous year and we are on track to reach 1,000

women with mentoring support over the internet by 2014. The Mobile

Technology Programme has seen tremendous growth, tripling the numbers of

women reached to over 20,000 in this financial year and has well-researched

plans to reach tens of thousands more.

We have been developing staff capacity both in-house and in our partner

organisations. The Foundation has an established culture of learning that

carries on a tradition of continuous efforts to improve our work, deepen our

impact and widen our reach.

Our focus remains firmly on the women entrepreneurs we support and we drive

resources to partners in the countries we work in to ensure women have the

appropriate solutions for the unique challenges they face in their context. We

also work with other international non-profits and the private and public sectors

to amplify our impact as much as possible.

We are very grateful to our funding partners who have pooled their resources to

develop women’s enterprise, our international steering committee members

who contribute their time and expertise and our founder who tirelessly

advocates women’s economic rights.

It has been a rewarding year and I am thrilled that we could make a difference

to so many women around the world. Thank you to everyone who is helping to

turn our vision into a reality.

Henriette Kolb

CEO

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Report of the trustees for the year ended 31 October 2012

Report of the trustees

The trustees present their report and the audited financial statements for the year ended 31 October

2012. These have been prepared in accordance with accounting policies set out on pages 27-28 and

comply with the Charity’s Memorandum and Articles of Association, applicable law and the

requirements of the Statement of Recommended Practice, second edition “Accounting and Reporting

by Charities” issued in March 2005 (SORP 2005). Reference and administrative information set out

on page 37 forms part of this report.

The Cherie Blair Women’s Foundation was incorporated with Companies House on 2 April 2007

under the registration number 06198893, limited by guarantee and registered in England and Wales.

The Foundation was registered with the Charity Commission on 8 September 2008 (No. 1125751).

On 10 September 2008, the Company passed a Special Resolution to change its name to the Cherie

Blair Foundation for Women, following which the Registrar of Companies issued a Certificate of

Incorporation on Change of Name from the Cherie Blair Women’s Foundation to the Cherie Blair

Foundation for Women, dated 30 September 2008.

Governance and management

Trustees

The board of trustees convenes meetings

regularly, at least five times a year. Trustees

are recruited by the board of trustees. The

selection is based on integrity and specific

expertise required by the charity. The

chairman of the board and the CEO are

responsible for inducting new trustees and

identifying training opportunities for individual

trustees as needed.

In June 2012 Pat O'Driscoll, who had been a

trustee of the Foundation since 2008, lost her

battle to cancer. She brought a calm

professionalism, wisdom and insight to the

work of the charity and is much missed. The

Foundation currently has five trustees serving

on the board.

Organisational structure and

staffing

The trustees are responsible for setting the

strategic direction and policies of the charity.

The CEO reports to the board of trustees and

is responsible for the day-to-day management

of the Foundation and implementing the

strategy and policies. Senior management

report directly to the CEO.

Risk management

In line with the Charity Commission’s

guidelines on risk management, the board of

trustees has developed a risk register,

outlining the potential financial, governance,

operational, external and compliance risks the

charity could face, weighing the likelihood and

potential impact of each and taking action to

further manage those risks as appropriate. The

register is reviewed on an on-going basis by

the trustees. Key risks have been identified

and addressed as appropriate.

Grant making policy

The Foundation co-develops projects together

with partner organisations and judges each

case for support, including grants and

donations, on its merits. Prior to making any

commitment for support, the Foundation will

assess the details of the project, including

timescales for implementation, its budget and

the means of obtaining value for money. The

Foundation will also consider whether the

proposing organisation is capable of

undertaking the project, has a satisfactory

financial position and is non-political in its

mandate and execution of activities.

Grants or donations are made to

organisations, rather than individuals, whose

activities support the Foundation’s objectives.

The Foundation does not launch Calls for

Proposals and does not accept unsolicited

applications. The Foundation does not

normally provide grants or donations for

projects where the grant or donation is to

cover expenditure that has already been

incurred or committed. The Foundation does

not normally provide grants or donations for

capital infrastructure. Any grant or donation

offered may be subject to conditions relating to

specifications, project management, progress

reports, payment of claims, publicity and future

use.

Any grant or donation offered may be

conditional on the availability of funding from

other sources or depend on the impact that the

project may have.

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Report of the trustees for the year ended 31 October 2012

Objectives and activities for the public benefit

Vision

Our vision is a world where women have equal

opportunities and the capability, confidence

and capital necessary to establish and grow

businesses, resulting in a brighter future for

the women themselves and their communities

as a whole.

Mission

Our mission is to provide women with the

skills, technology, networks and access to

finance that they need to become successful

small and growing business owners, so that

they can contribute to their economies and

have a stronger voice in their societies.

Charitable objects

The object of the charity is to raise the status

of women in developing and emerging markets

by focusing on their economic empowerment.

The Foundation supports women

entrepreneurs in filling the gap in the economy

commonly referred to as the ‘missing middle’ –

small and medium enterprises. Support goes

to women who are ready to take the next step

towards becoming successful entrepreneurs or

who are already running small or micro

businesses. The Foundation’s charitable

expenditure to further these goals amounted to

93% of total expenditure this year.

Based on commonly identified challenges

women entrepreneurs face across the world,

the Foundation focuses its research, services

and advocacy on: capacity development,

access to technology, access to capital and

savings products and access to peer and

mentor networks.

Public benefit

The trustees confirm that they have complied

with the duty in the Charities Act 2011 to have

due regard to the Charity Commission’s

general guidance on public benefit. The

Foundation’s activities, which include project

management, service delivery, research and

grant funding, all provide public benefits.

Public benefit is also demonstrated throughout

this report, in particular through the

achievements below.

Achievements

In this financial year, the Foundation has

successfully met its objectives by

implementing projects across Africa, Asia,

Latin America and the Middle East. It has

directly reached over 23,000 women with

support since its establishment and tens of

thousands more indirectly through advocacy,

research and employment opportunities. The

Foundation’s projects are designed to have a

lasting impact, sustainably lifting families out of

poverty by supporting women’s economic

inclusion and development.

The Foundation has continued to support

women entrepreneurs in developing and

emerging markets with the skills, technology,

networks and access to finance that they need

to become successful small and growing

business owners, so that they can contribute

to their economies and have a stronger voice

in their societies.

We have expanded our work, developing the

existing Business Support Programme plans

into an updated and enhanced Enterprise

Development Programme, which has already

reached over 2,000 women this financial year

and is set to reach over 3,500 in total over the

next three years. We have reached record

numbers of women entrepreneurs through e-

mentoring which puts us on track to meet the

Mentoring Women in Business Programme’s

goal of reaching 1,000 women by October

2014. We have continued to build upon the

Mobile Technology Programme strategy,

expanding our research into integrating

women in mobile retail channels and tailoring

mobile value added services for women. Our

findings have been put into practice through

the development and implementation of

projects with partners. We have reached over

20,000 women through the Mobile Technology

Programme this year and expect to reach tens

of thousands more in coming years.

During the past year the Foundation has

ramped up its access to capital work. The

Foundation has trained staff and conducted indepth

research on the financial needs of the

women entrepreneurs we support.

Consequently a comprehensive access to

capital strategy has been put in place.

In line with the Foundation’s business plan for

2011-2013, the Foundation has deepened and

broadened its partnerships with other

organisations working on the economic

empowerment of women and contributing to

the advancement of gender equality. The

Foundation has been working across sectors

with organisations on mobile technology

solutions for the challenges women

entrepreneurs face in their business ventures.

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Report of the trustees for the year ended 31 October 2012

Woman entrepreneur in Indonesia with Cherie Blair, photo by Ceri Howes, Cherie Blair Foundation for Women

The Foundation has partners in over 50

countries in its Mentoring Women in Business

Programme to offer cross-border support to

women entrepreneurs through e-mentoring.

Through our Enterprise Development

Programme, the Foundation has partnered

with business incubators, non-profits,

chambers of commerce, business leaders and

international corporations in order to provide

tailored support to women entrepreneurs.

The Foundation has increasingly contributed to

global policy dialogue and practice on

women’s economic empowerment. The

Founder, CEO, trustees, programme directors

and other staff have been actively involved in

advocating the benefits of supporting women’s

enterprise development. We have participated

in panel discussions around the world, written

blogs on fostering women’s entrepreneurship,

shaped discussion in high level public debates

and contributed to the global discussion in the

press and through social media.

Activites in the last financial year included but

are not limited to the following: supporting

Secretary Clinton’s International Council for

Women’s Business Leadership; contributing to

the dialogue on women’s economic

empowerment at the Aspen Ideas Festival;

organising advocacy activities around

International Women’s Day; advising

organisations around the world on mentoring,

enterprise development and mobile technology

strategies for supporting women’s economic

empowerment; contributing to international

networks and coalitions on women’s

enterprise; advising on the post 2015 global

development agenda; and organising a

number of high level global discussions around

women’s entrepreneurship and women’s

financial inclusion.

These activities have resulted in organisations

taking up new activities to support women’s

economic empowerment, new and

strengthened existing partnerships allowing

the Foundation to expand its work and raised

awareness around the importance of women’s

enterprise development.

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Report of the trustees for the year ended 31 October 2012

Enterprise Development Programme

The potential of women entrepreneurs remains largely untapped in developing and emerging markets,

with many still lacking the skills, capital and access to markets they need to be successful micro,

small and growing business owners. Women are also three times more likely to operate in the

informal economy due to legal and cultural constraints, which restrict the potential for their businesses

to grow.

The Enterprise Development Programme was developed from the Foundation’s business support

projects to deliver tailored business training, facilitate business registration and enhance access to

capital and markets for women entrepreneurs. The programme prioritises women who have achieved

some level of success but need support to take their businesses to the next level.

Our tailored support equips women entrepreneurs with the tools to transition into small and growing

businesses. During the financial year we hired a dedicated programme director and programme

coordinator to develop the strategy and manage projects within the Enterprise Development

Programme. Since starting at the Foundation, the programme director has convened an international

steering committee and has brought international partner organisations together across sectors to

support and implement the programme strategy.

Sierra Leone Women’s Entrepreneurs

Together with the African Foundation for

Development in Sierra Leone, with support

from the Pratt Foundation, we have

established the first national network for

women entrepreneurs that offers tailored

business services, peer support, networking

opportunities, and access to markets and

capital to facilitate the growth of women’s

businesses. The project is guided by a

steering committee, made up of local

municipality members, private sector

organisations and non-governmental

organisations, that provides strategic direction,

additional business skills and resources, and

contextual knowledge to the project.

In six months, the network has so far reached

and connected 80 women entrepreneurs. The

network links these businesses to suppliers,

markets, training, resources and to other

women entrepreneurs with whom they can do

business.

“I am really looking forward to

developing my marketing and branding

skills as well as forming new linkages

with possible clients, suppliers and

partners. I hope to use these new

network connections to attract more

clients and expand my guesthouse.”

- Louisa Musa, Kenema, Sierra Leone

Workshop on identifying barriers to women’s entrepreneurship

hosted by AFFORD-SL, photo by Priya Patel, Cherie Blair

Foundation for Women

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Report of the trustees for the year ended 31 October 2012

Part of this project involved two regional

workshops in Freetown and Kenema in June

2012 which explored the key barriers that

deter women from growing their businesses,

provided a platform for networking

opportunities, informed the women about the

national network and successfully identified

training needs for the women involved. Each

workshop benefited over 30 women

entrepreneurs. Following the networking

events, six women entrepreneurs’ businesses

were selected to undergo incubation. These

businesses range from an internet café to a

fashion boutique to cassava processing and

production.

In the next financial year, these women will be

assigned to a local business mentor who will

help them develop and strengthen a detailed

three-year business plan, develop milestones

to scale up their businesses to the next level

and establish an action plan for growth, as well

as provide additional business training and

market information as required. Tailored

business training will also be held for the

women who attended the two workshops.

The aims in the long term are to increase the

number of women in sustainable business in

Sierra Leone, thereby creating employment

opportunities and to nurture credible women

role models, who will help create an

encouraging climate for other women

entrepreneurs to follow.

Supporting Women Entrepreneurs in Lebanon

women benefitted from one-to-one coaching

with their business mentors and each

successfully produced a credible business

plan which put them in a better position for

applying for loans and developing their

businesses further.

The project resulted in ten women-owned

businesses being established through

intensive incubation support provided by BIAT,

an IT course delivered by Digital Opportunity

Trust (DOTS) and the efforts of the women

entrepreneurs themselves.

Women entrepreneurs at the BIAT centre in Lebanon

where they receive business coaching, photo by Priya

Patel, Cherie Blair Foundation for Women

Together with Tomorrow’s Youth Organization,

the René Moawad Foundation and J.P.

Morgan, we have supported women

entrepreneurs to develop sustainable

businesses in Northern Lebanon through

business skills training, incubation services,

product development and access to markets.

This financial year, the project completed its

19-month cycle. An independent evaluation

found that 42 women benefited from a four-day

business plan development and

entrepreneurial skills training workshop

conducted by the Business Incubation

Association of Tripoli (BIAT). Eighteen of these

“Through my training, I was able to

identify networks for the sale of my

accessories and strongly define my

business strategy. The training helped

me to strengthen my existing business

skills and to fill the gaps where I was less

informed, such as in marketing/branding,

IT and the English language.”

- Hwayda, Lebanon

Four of the ten women in the project are

already making a profit. Eight of the women

are employing staff and two women have

taken on new premises outside the home to

grow their businesses. The women in the

project have created more than 60

employment opportunities in total. This is a

positive result, given the political and security

context in Northern Lebanon.

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Report of the trustees for the year ended 31 October 2012

In Lebanon’s fragile economy, Sahar is an

inspiring business owner. She made

outstanding progress with her honey

production business. Prior to joining our

project, Sahar struggled with access to capital

and business management. With the support

of advisors within the programme, Sahar has

secured a loan to buy packaging materials and

to expand to meet increasing demand. She

has already seen a 60% increase in profit,

which she will use to repay her loan and

reinvest in the business.

This project is an excellent example of crosssector

collaboration at work. We were able to

convene a number of organisations to ensure

the women involved in the project received the

best carefully tailored and appropriate support

to meet their needs. J.P. Morgan provided

valuable guidance and assistance with the

project development and access to capital

aspect. Tomorrow’s Youth Organization, the

René Moawad Foundation, BIAT and the

project’s steering committee were central to

consultations with the women involved,

ensuring that the project development was

participatory throughout. We are also grateful

to the number of banks, institutions and

alliances that assisted us to make a difference

to the women entrepreneurs and their

communities.

The lessons learned in this project have been

used to develop a new project in collaboration

with Tomorrow’s Youth Organization in Nablus

and Lebanon to support 90 women

entrepreneurs to develop micro and small

enterprises using a similar model, as well as

addressing the issue of accessing capital.

Middle East Entrepreneurs Project

In partnership with Tomorrow’s Youth

Organization and the Oak Foundation, we

have developed a two-year project,

implemented from November 2012, that

supports women entrepreneurs in

marginalised areas to develop their micro and

small enterprises through leadership and

business skills training, coaching, incubation

and facilitating access to capital.

The Cherie Blair Foundation for Women

works with us to design programmes

customised to local needs, while

contributing their expertise and support.

- Nadine Okla, Project Manager,

Lebanon

The Programme Director has together with our

local partner developed this project using

lessons learned from previous projects in

Lebanon and Palestine to benefit 90 women

with initial business training and 30 women

with individual business coaching. The project

strategy document was designed in such a

way that out of the women involved, 15

women-led businesses will be incubated.

It is expected that the majority of women will

increase their capability and confidence and

that many will reach new markets in their

businesses. The project development also

ensures that women will benefit from one-toone

support in accessing capital and will

receive further intensive training on financial

risks and opportunities, so that at least 30

women targeted have more than one financing

option available to them to help grow their

businesses by the end of the project.

The Programme Director has included an

element of network building in the project,

whereby project staff in Lebanon and Palestine

work with programme participants to develop

informal regional links. As a result, it expected

that women will demonstrate greater

knowledge about demand in local and

international markets, connect to existing

networks of peers and resources, as well as

benefit from access to market data and value

chain information at the local and regional

level to help inform their business decisions.

The ultimate goal of this project is to increase

the potential of women entrepreneurs and

enhance their roles as contributors to the

Palestinian and Lebanon economies.

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Report of the trustees for the year ended 31 October 2012

Fostering Young Israeli Women Entrepreneurs

“The courses in the programme gave me

the support and tools I needed to build

up my headscarf business from scratch

and now I feel that the concept of

entrepreneurship has become a part of

me.”

- Reut Bublil, Akko, Israel

The Foundation, in partnership with Western

Galilee College, has developed a

comprehensive economics and management

degree programme in Northern Israel to

develop women’s entrepreneurial skills. This

financial year coincides with the third and final

year of the course for the project’s first intake.

Nineteen Arab and Jewish women have

successfully completed the unique three-year

BA Economics and Management programme.

All have expressed positive changes in their

social and professional development. Most of

the women have secured employment in the

fields of business, IT or banking, whilst others

are furthering their studies or are following

through with entrepreneurial ambitions.

Throughout the three years, the students have

benefited from academic tutoring, workplace

training, and educational workshops including

one with the Ministry of Foreign Affairs in

Jerusalem, exposure visits to world-renowned

technology companies like Google and

Amdocs, and a host of other business

development opportunities.

Six students undertook a week-long study visit

to the UK, where they met with inspiring

business leaders and completed workexperience

placements with entrepreneurs and

successful businesses. The women left

London with newfound energy, a widened

perspective on their career paths and the

confidence to realise that success is within

their reach.

The Foundation has secured a grant from the

Self-Worth Foundation, to support a further

intake of students over the next three years. A

final external evaluation will be conducted at

the start of the next financial year. Learning

and recommendations from the report's

findings ensure the high quality and impact of

the programme is maintained.

Programme Manager Dr Miri Said with students from Western Galilee College

visiting the London Stock Exchange, photo courtesy of Dr Miri Said

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Report of the trustees for the year ended 31 October 2012

Self-Worth Foundation Fostering Women Entrepreneurs Project

The Foundation, together with Economic

Empowerment for Women (EEW) and Koret

Israel Economic Development Fund (KIEDF)

and with funding from the Women’s Self-Worth

Foundation, has been supporting Jewish and

Arab women entrepreneurs in developing and

expanding their micro-enterprises through

business incubation services, access to capital

and a peer-to-peer network.

To date, 32 women have begun to improve

their capability and confidence through the

business incubation centre in Beit Shemesh.

Over 60 women have been interviewed as

potential candidates to participate in the

coming months. Incubation activities in Beit

Shemesh have included an accelerated

business course, development of business

plans, establishment of regional forums and

consulting services. At least 40 women

entrepreneurs will benefit from networking

opportunities through the Beit Shemesh

incubator’s first regional forum at the beginning

of the following financial year.

Upon completion of the business incubation a

number of these women will benefit from

microloans provided by KIEDF as part of the

project. So far, three women are already

receiving microloans as part of the project.

Michal is one of them. She runs a French

pastry and coffee shop. She is well known for

her French cuisine and unique bakery items

which have a special niche in Jerusalem and

the surrounding area with high potential for

sales. Michal has received a loan from KIEDF

to purchase new supplies and expand one of

her best selling pastry products. An additional

eight potential clients have received support in

developing their loan requests, which involve

working on their business plans and goals for

the future.

The next financial year will focus on on-going

enterprise development and loan distribution

for up to 60 existing women entrepreneurs in

Michal in her pastry shop in Jerusalem, photo by KIEDF

addition to a new group in Katomonim and

KiryatYovel.

In Shemesh, business incubation services will

continue and access to capital will follow for up

to 40 existing women entrepreneurs in addition

to a new group. KIEDF and EEW will also be

working together to coordinate relevant

organisations working in each location, in

order to build up a network of service providers

which women entrepreneurs can tap into to

develop their businesses.

The ultimate goal of the project is to increase

the number of sustainable women-led

businesses in Jersualem’s marginalised

communities through strengthening women’s

confidence, capability and capital.

India Mentor Development Programme

Following our commitment to support women

entrepreneurs in India at the Foundation’s

2010 Women Mean Business Conference, the

Foundation teamed up with the National

Entrepreneurship Network (NEN) to develop a

group of 60 highly effective, accessible

mentors across India.

In this financial year, 68 mentors were

successfully trained in assessing market

opportunities, product development, pricing

techniques for start-ups and financing for

entrepreneurs. This exceeded the original

target of 60.

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Report of the trustees for the year ended 31 October 2012

As a result, over 980 women entrepreneurs

were mentored, well over the target of 400 set

in the project’s first year.

“I was a total novice who just came up

with an idea. It was the programme that

encouraged me to pursue it and guided

me through the entire process. It has

been the driving force behind my

startup.”

- Aswin Yogesh, Chennai, India

To ensure on-going support, mentors were

also offered one-on-one mentoring. The

results of this support have been positive:

faculty mentors became more confident about

supporting women entrepreneurs to develop

their businesses.

The programme’s ultimate objective is to

increase the number of successful women

entrepreneurs in India who are growing

businesses that create wealth and muchneeded

jobs.

Initial results are positive. For example, Bala

set up her own company to train and recruit

Professor Joyeeta Mukherjee’s deputy mentoring a group of

women entrepreneurs in the fashion industry in Mumbai, India,

photo provided by the National Entrepreneurship Network

graduates into engineering and IT positions.

She started off relying on family contacts and

struggled to generate steady revenue. Since

joining the project, Bala has been paired with a

mentor, Radhika Meenakshi. Radhika has

supported Bala to rework her business

strategy to tap into new markets. This has

dramatically increased her customer base by

40% and her revenue by nearly 500%.

India Connectivity Report

The Foundation collaborated with the

International Center for Research on Women

(ICRW) to produce Connectivity: How Mobile

Phones, Computers and the Internet Can

Catalyze Women’s Entrepreneurship, the

result of an in-depth examination of four

innovative programmes in diverse areas of

rural India.

ICRW researchers set out to investigate how

information and communication technologies

(ICTs), particularly mobile phones, can – and

are – changing women’s lives through

business creation.

The research follows our 2010 Women Mean

Business Conference in Mumbai, where

leading professionals and women

entrepreneurs gathered to discuss how ICT

could help women overcome the barriers that

women entrepreneurs in India face.

Women Mean Business Conference participant in

Mumbai, photo provided by the Cherie Blair

Foundation for Women

Our findings were widely distributed

internationally to organisations working on

mobile technology and/or women’s

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Report of the trustees for the year ended 31 October 2012

entrepreneurship in India, including the mobile

industry, governments, international nonprofits

and institutions. The study illustrates

how the role of ICTs and entrepreneurship is

shifting perceptions about women’s roles and

positions in society.

As a result of this study, the Foundation’s

Mobile Technology Programme has developed

an initiative with the aim of creating economic

opportunities for women entrepreneurs and

accelerating their businesses. In partnership

with the Self Employed Women’s Association

(SEWA), they are developing a mobile-based

management information system that is

simple, user friendly and will enhance the

efficiency of SEWA’s rural distribution network.

Business Development Centre for Women

In partnership with the Business Women

Forum, the Foundation has been supporting a

business development centre in Ramallah for

Palestinian women entrepreneurs who want to

set up or develop their own businesses. The

centre, a one-stop shop for business support,

has expanded its reach from 46 to a total of 88

women entrepreneurs since the last financial

year.

Services provided include feasibility studies

across different sectors, evaluating marketing

opportunities, legal consulting, incubating highgrowth

projects and on-going training and

skills upgrading. The centre receives advice

from a multi-sector Palestinian advisory board

and cooperates with various chambers of

commerce, such as Bethlehem, and with

Palestinian universities.

Oriana Nasser has benefited from a

combination of consulting services, workshops

and trainings. She is currently running her

family business in Bethlehem, Jerusalem

Stone Source Company, which employs 160

skilled workers. Oriana worked with the

Business Development Centre for Women to

assess the marketing capabilities of her

company, as well as develop a marketing plan

under the supervision of professional

consultants.

Of the 88 supported, 15 women participated in

a one day workshop on the role of social

media in broadening customer base and

sourcing information. Eight women

entrepreneurs have received intensive training

and coaching via business consultants to help

them produce business plans. Five women

have benefited from a training session with an

international designer via video conference

and more than 10 businesswomen have

reported an increase in revenue (ranging from

10% to140%).

The centre has also created market linkages

for several women. For example it has linked

Najwa Hamdan & Manal Ehmidat who co-own

a handicrafts business to local gift shops in

Ramallah. Similarly Sabreen Mosha’sha’ who

owns a ‘Kitchen Club’ business teaching kids

how to cook has successfully been linked to

private and governmental schools and she has

already participated in promotional days and

activities at these schools. Others are being

supported by centre consultants to develop

their packaging and change some technical

specifications to meet the export market

requirements.

Oriana Nasser, owner of Jerusalem Stone Source

Company, attending a workshop,

photo provided by Business Women Forum

12


Report of the trustees for the year ended 31 October 2012

With this support, as well as trainings and

workshops, Oriana was able to increase

product visibility, raise the profile of the

products and services that her company offers,

identify new leads for the business and

increase market share locally and

internationally.

In the next financial year we will continue to

support more businesswomen and conduct

research into the barriers and opportunities in

accessing capital for women-owned SMEs in

Palestine. The findings of the study will

support us to improve women’s access to

suitable financial services in Palestine so that

they can grow and scale up their businesses.

Students at ‘Kitchen Club’ – a business run by Sabreen Mosha’sha’ in Ramallah

which teaches children how to cook, photo provided by Kitchen Club

13


Report of the trustees for the year ended 31 October 2012

Mentoring Women in Business Programme

By combining mentoring with technology, the

Mentoring Women in Business Programme is

pioneering a new way of supporting women

entrepreneurs. Mentoring accelerates the

strides women are already making and takes

their businesses, confidence and skills to the

next level.

Equipped with an interactive online platform

developed with Google, we match women

entrepreneurs from developing and emerging

countries with male and female mentors, who

are highly-successful professionals and

entrepreneurs from around the world. Over the

course of twelve months, mentees work online

with their mentors to achieve key business and

professional goals.

The programme crosses cultural and physical

boundaries. It connects people from different

corners of the world and creates a community

of committed, ambitious entrepreneurs who

are invested in each other’s success.

The Mentoring Women in Business

Programme was developed to enhance the

success of women-led businesses in

developing and emerging markets. We built a

virtual community for women entrepreneurs to

support each other and receive online

mentoring and business advice. Overall, we

supported over 400 women entrepreneurs

from 50 different countries during the financial

year through e-mentoring.

half reporting they built confidence, gained

new business skills or revised their business

strategies. Over 40% were able to launch a

new business or expand their current business

after eight months of working with their mentor.

22% hired new employees and 25% gained

new clients. Over 17% credited their ability to

keep their business from failing to the support

provided through this programme.

“With Carmen’s help, I am starting to

shape up and beginning to understand

what is required when setting up a

business. It’s not all about jumping into

a pool; it’s about learning the different

strokes required to swim and get to the

other side .”

- Angela Ndereyerio, Mentee and seed

business owner, Kenya

“It has been an amazing journey that

could not have materialised without you

and your truly incredible energy, drive

and passion and your ability to pull

together and mobilise people towards

impressive objectives. A huge thanks to

Cherie Blair for instigating and

supporting so wholeheartedly this

transformational program.”

- Athina Kafetsiou, Mentor

Over 80% of the women entrepreneurs who

completed our last survey reported that their

mentoring relationships had a positive impact

on their businesses. Of mentee respondents

from our February 2012 group, 94% attributed

specific progress to their mentors, with over

Erin, an entrepreneur in Malaysia, demonstrates how

she uses her tablet to connect with her mentor at the

Malaysian launch of the Mentoring Women in Business

Programme with Qualcomm Wireless Reach, Maxis,

the Malaysian Ministry of Women and YPVWM

14


Report of the trustees for the year ended 31 October 2012

But, she was alone. She lacked support and

faced hostility from her family and community

as a woman trying to start her own business.

Because Shilpa lacked a support system, she

struggled with a software company she hired

to help her build her assessment. After nearly

two years, the company failed to deliver a

useable product. Some businessmen in town

told her that she was “just a woman trying to

play business”.

Dr Shilpa Datar, based in India, speaking with

programme coordinator, Allison Kahn,

photo provided by the Cherie Blair Foundation

for Women

The women who participated in the

programme gained new skills, built their

confidence, developed digital literacy and

accessed new networks. Take Shilpa, for

example. Despite the challenges of an

arranged marriage at a young age, a family

that wouldn’t allow her to attend full-time

university, and having small children at home,

Shilpa was determined to pursue her dreams.

“It was one of the defining moments of

my life to reach out and ask for help! The

feeling that I am not alone trying to

stumble along is indescribable!”

- Dr Shilpa Datar, Mentee and

entrepreneur in India

She not only managed to complete her

undergraduate and post graduate degrees, but

went on to finish her PhD despite her family’s

opposition. With a psychology degree and

celebrated dissertation in hand, she set out to

create a pioneering set of tools for assessing

personalities from a non-western perspective.

Shilpa had the ambition, ideas, and work ethic

needed to start her business and create an

innovative product, but lacked support.

Mentoring filled that void. Shilpa was matched

with Priya Nallamuthu, an engineer and IT

consultant in the UK. They started meeting

online using Google Hangouts to assess

Shilpa’s business plan and sort through the

various obstacles she’d been facing.

Over the course of a year working together,

they managed to find a software developer to

complete her assessment tools, patent her

idea, put her competitive product on the

market, and start building her client base and

marketing her product. At the end of 2012,

she received the respected “Veda Brahma

Award for Excellence in Innovation” for her

ground-breaking work.

The hostility and barriers she faced as a

woman doing business in her community

haven’t necessarily faded away, but she now

has a support system as she works to

overcome them.

Transforming the lives of women like Shilpa

would not be possible without the efforts of our

partner organisations. Our partners nominate

mentors and mentees from around the world to

apply to our programme, which allows us to

match women entrepreneurs with mentors who

meet their needs. Thank you to all our partner

organisations, to our steering committee

members, volunteers, mentors and everyone

who brings this programme to life.

15


Report of the trustees for the year ended 31 October 2012

Mobile Technology Programme

Combining research, projects and advocacy, the Mobile Technology Programme aims to create

sustainable economic opportunities for women entrepreneurs through the use of mobile phones and

services. In the last financial year, this programme undertook further research, which was put into

practice, as detailed below.

Furthermore, the founder, CEO and Foundation staff have been advocating the benefits of mobile

technology for women’s enterprise development in particular. US Ambassador-at-Large for Global

Women's Issues, Melanne Verveer, credited the Foundation for “spawning a global movement” to

close the gender gap in access to mobile phones in developing countries. The Foundation has made

a significant contribution to the discussion on how mobile technology can be used to empower women

on an international scale and there is evidence that other organisations have instigated projects as a

result of our leadership in this field, amplifying our impact much further as we share research findings

and lessons learned across sectors.

Mobile Value Added Services Projects

With support from the ExxonMobil Foundation,

the Cherie Blair Foundation for Women has

been testing tailored mobile value-added

services for women entrepreneurs in

Indonesia, Nigeria and Egypt. We identified

eight core challenges specifically faced by

women entrepreneurs in our three chosen

target markets, ranging from difficulty

accessing customer and marketing networks

to barriers to accurate market prices and

supplier information. We disseminated findings

from the resulting report, Mobile Value Added

Service: A Business Growth Opportunity for

Women, which led to collaborations to

implement projects on the ground, using the

information in the report to benefit women

entrepreneurs.

“Studies like this will help us understand

how technology can best support women

in the developing world. Expanding the

use of mobile technology for women will

help raise living standards, leading to

more prosperity for them, their families

and their countries.”

- Suzanne M. McCarron, President of the

ExxonMobil Foundation

The service, called Business Women, was

launched in Nigeria in August 2012 and was in

the process of being developed at year end in

Indonesia. By the end of the financial year, it

had already reached 15,000 women

entrepreneurs. It is expected to reach tens of

thousands more.

As part of this project, in October 2012, the

Cherie Blair Foundation for Women developed

a financial literacy and business development

training to supplement the Business Women

mobile service in both Nigeria and Indonesia,

through local partners Youth for Technology

Foundation and Mercy Corps, respectively.

The first weeks were spent largely on project

design and focused heavily on identifying the

local needs of women in each country. Both

projects were developed to benefit 2,000

women in each country with the knowledge

and skills they need to improve their

confidence and businesses.

The Cherie Blair Foundation for Women,

together with commercial partners such as

Nokia, MTN Nigeria and Indosat, along with

local NGO partners in Nigeria and Indonesia

and funding partner, ExxonMobil Foundation,

developed a customised service that

specifically addresses the key challenges that

women entrepreneurs in these countries face.

16

Entrepreneur using her mobile phone to

connect with suppliers and customers, photo

provided by Youth for Technology Foundation


Report of the trustees for the year ended 31 October 2012

Mobile Retail Channels Study

The past year offered numerous opportunities

for the Mobile Technology Programme to

further develop insights on the inclusion of

women entrepreneurs in the retail channels of

mobile operators, which were initially studied

in our 2011 report, Women Entrepreneurs in

Mobile Retail Channels: Empowering Women,

Driving Growth. This research was the first of

its kind and spelled out the commercial

justifications for mobile operators to include

more women in their retail channels.

“I feel female agents are better and they

are more hardworking than males.

Female sales agents are quick,

cooperative, faithful and hardworking.”

- Distributor, Uganda

Thousands of potential business opportunities

for women exist in this sphere, which this

study highlighted. During the financial year, the

Foundation was able to identify a number of

these opportunities and brought one to life, in

an exciting collaboration that spans three

countries in Africa and will involve, corporate,

NGO and institutional partners.

In 2012, the Foundation partnered with

Millicom (Tigo) and the US Agency for

International Development (USAID) to design

a project that would purposefully and directly

engage thousands of women across Ghana,

Rwanda and Tanzania in Millicom (Tigo)’s

mobile money retail chain, called the Tigo

Cash Agent network. The Foundation carefully

selected local microfinance partner

organisations and developed a detailed

monitoring and evaluation framework, in

addition to increasing its organisational

capacity to effectively run and manage a

project that will be funded by USAID.

These activities are central building blocks to

creating a successful and sustainable project,

and we look forward to working with 4,150

women entrepreneurs across these three

countries in the coming year, as they receive

entrepreneurship training and support, as well

as working capital loans that will enable them

to initially establish and then grow thousands

of successful mobile money enterprises.

Supply Chain Management Solutions

The Foundation, alongside the Vodafone

Foundation in India, is working in partnership

with SEWA to develop a mobile-based

management information system for SEWA’s

rural distribution network.

The network operates largely in India’s Gujarat

State, procuring farm produce from local

marginal farmers at market prices. The

network then processes and packages this

produce before selling it at affordable prices.

The scale and reach of of the network has

increased dramatically since its inception and,

over time, systems have been developed to

account for increased sales volumes and an

expanding supply chain. However, inventory

management and sales reporting remains a

challenge, which is what this project aims to

address.

In 2012, the Foundation worked closely with

Indian developer Ekgaon Technologies and

SEWA to identify the core needs of the women

entrepreneurs that operate within the network.

Based on this work, Ekgaon started the work

of developing the system, which by October

2012 was nearing its completion. The roll-out

of the solution will be followed by hands-on

trainings of women entrepreneurs in SEWA’s

rural distribution network, to ensure that the

system is accessible and appropriate for their

daily business needs. Ultimately, the

Foundation and SEWA will reach over 2,000

women throughout rural Gujarat with these

trainings and with the mobile-enabled business

solution, allowing women to efficiently and

accurately manage their entire supply chain.

Women in SEWA’s network exploring the new

mobile information system, photo by Anant

Nautiyal, Cherie Blair Foundation for Women

17


Report of the trustees for the year ended 31 October 2012

Nyanza Women’s Economic Empowerment

In Kenya, many women find that they do not

have the same land ownership rights as men,

making it very difficult to secure a loan as they

do not hold the necessary collateral. However,

with the explosive growth of mobile technology

throughout Sub-Saharan Africa, improving

access to finance can now be addressed

through the mobile phone. The Cherie Blair

Foundation for Women and CARE

International have joined forces to train 5,000

women entrepreneurs in business skills and

connect at least 15% of these women to formal

financial services using the mobile phone.

The women entrepreneurs involved are based

in Nyanza Province in Western Kenya and

entrepreneurial activities vary from fishing,

horticulture and manufacturing to service, retail

and wholesale. The business skills training

incorporates a selection of income generating

activity, marketing, profitability analysis,

business planning and steps in business

initiation and diversification. Project monitoring

and focus groups found that there has been

noticeable impact at the individual, household

and enterprise level.

Entrepreneurs both in terms of agricultural and

other manufacturing enterprises have had

increases in income which has led to an

increase in savings and an increase in the

capital base of their businesses. The survey

respondents reported that they are

increasingly able to pay school fees for their

children in secondary schools and tertiary

institutions. An impact study completed by

CARE International last year demonstrated

that women are more actively involved in

household decision making and a number of

women said that they have been able to invest

in livestock which previously was the men’s

domain.

Entrepreneur, Lilian Adhiambo, makes a call from her shop in Western Kenya, photo by Kate Holt

18


Report of the trustees for the year ended 31 October 2012

Financial review

The Foundation continues to be in good financial health and has managed to attract the support of

generous donors and partners, for which we are very grateful.

Incoming resources for the year totalled £1,818,151. Funding came from a mixture of individuals,

trusts, foundations, government agencies and corporations. The majority of incoming resources was

derived from charitable activities, totalling £1,334,549, with the remainder coming from voluntary

income and a small amount from activities for generating funds and investment income.

Of the incoming resources from charitable activities, 50% was attributed to the Enterprise

Development Programme, 30% to the Mentoring Women in Business and 20% to the Mobile

Technology Programme. In addition the Foundation has confirmed funding commitments for future

years for grants awarded in 2011-12 from USAID of $625,965, Oak Foundation of £101,406 and the

Vodafone Foundation in India of £94,773.

19


Report of the trustees for the year ended 31 October 2012

Resources expended totalled £2,268,372 for the financial year, with the vast majority of resources

spent on charitable activities. Of the total expenditure, 93% went towards charitable spending, 5% on

generating income and 2% towards governance.

The Foundation spent a total of £2,113,299 on charitable activity in the financial year. The majority –

47% – was spent on the Mobile Technology Programme, with 39% spent on the Enterprise

Development Programme and 14% spent on the Mentoring Women in Business Programme.

Reserves Policy

The trustees regularly monitor the level of reserves to ensure that there are sufficient resources

available to satisfactorily carry out the planned activities of the Cherie Blair Foundation for Women

and to fulfil all contractual, statutory and legal obligations. At present the trustees allocate unrestricted

reserves to building the capacity of the charity and its programmes. However, over time the goal is to

increase the charity’s reserves, in line with the Foundation’s business plan. At year-end the trustees

designated funds from the unrestricted reserves to establish a general reserve fund. The trustees are

satisfied that there will be sufficient resources available to meet future planned expenditure and to

allow for grants to be made in the coming year in accordance with the charity’s charitable objects.

Reserves at the end of the 2011-2012 financial year totalled £697,230, of which £229,719 was

20


Report of the trustees for the year ended 31 October 2012

unrestricted. The remaining £467,511 is restricted to cover specific programme expenditure in future

periods.

Future plans

In line with the Foundation’s business plan, the Foundation will continue to further develop the

strategy of the three programmes. Our goal over the next three years is to extend our reach,

transforming the lives of over 3,500 women entrepreneurs through the Enterprise Development

Programme, more than 1,000 women entrepreneurs through our Mentoring Women in Business

Programme and over 100,000 women entrepreneurs through our Mobile Technology Programme. We

will do this by working with non-profit, public and private sector organisations internationally. We will

also be implementing the access to capital strategy developed in 2012.

Statement of trustees’ responsibilities

The trustees (who are also directors of the Cherie Blair Foundation for Women for the purposes of

company law) are responsible for preparing the trustees’ report and the financial statements in

accordance with applicable law and United Kingdom Accounting Standards (United Kingdom

Generally Accepted Accounting Practice).

Company law requires the trustees to prepare financial statements for each financial year which give

a true and fair view of the state of affairs of the charitable company and of the incoming resources

and application of resources, including the income and expenditure, of the charitable company for that

period. In preparing these financial statements, the trustees are required to:

• select suitable accounting policies and then apply them consistently;

• observe the methods and principles in the Charities SORP;

• make judgements and estimates that are reasonable and prudent;

• state whether applicable UK Accounting Standards have been followed, subject to any

material departures disclosed and explained in the financial statements; and

• prepare the financial statements on the going concern basis unless it is inappropriate to

presume that the charitable company will continue in operation.

The trustees are responsible for keeping proper accounting records that disclose with reasonable

accuracy at any time the financial position of the charitable company and enable them to ensure that

the financial statements comply with the Companies Act 2006. They are also responsible for

safeguarding the assets of the charitable company and hence for taking reasonable steps for the

prevention and detection of fraud and other irregularities.

In so far as the trustees are aware:

• there is no relevant audit information of which the charitable company’s auditors are unaware;

and

• the trustees have taken all steps that they ought to have taken to make themselves aware of

any relevant audit information and to establish that the auditors are aware of that information.

The trustees are responsible for the maintenance and integrity of the corporate and financial

information included on the charitable company's website. Legislation in the United Kingdom

governing the preparation and dissemination of financial statements may differ from legislation in

other jurisdictions.

Members of the charity guarantee to contribute an amount not exceeding £1 to the assets of the

Foundation in the event of winding up. The total number of such guarantees at 31 October 2012 was

5 (2011 - 6). The trustees are Members of the charity but this entitles them only to voting rights. The

trustees have no beneficial interest in the Foundation.

21


Report of the trustees for the year ended 31 October 2012

Sayer Vincent were re-appointed as the charitable company's auditors during the year and have

expressed their willingness to continue in that capacity.

Approved by the trustees on 28th March 2013 and signed on their behalf by

Robert Clinton

Chairman

22


Independent auditors’ report for the year ended 31 October 2012

Independent auditors’ report

to the members of the Cherie Blair Foundation for Women

We have audited the financial statements of the Cherie Blair Foundation for Women for the year

ended 31 October 2012 which comprise the income and expenditure account, balance sheet and the

related notes. The financial reporting framework that has been applied in their preparation is

applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted

Accounting Practice).

This report is made solely to the charitable company's members, as a body, in accordance with

Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we

might state to the charitable company's members those matters we are required to state to them in an

auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or

assume responsibility to anyone other than the charitable company and the charitable company's

members, as a body, for our audit work, for this report, or for the opinions we have formed.

Respective responsibilities of trustees and auditors

As explained more fully in the Statement of trustees’ responsibilities set out in the trustees’ report, the

trustees (who are also the directors of the charitable company for the purposes of company law) are

responsible for the preparation of the financial statements and for being satisfied that they give a true

and fair view.

Our responsibility is to audit and express an opinion on the financial statements in accordance with

applicable law and International Standards on Auditing (UK and Ireland). Those standards require us

to comply with the Auditing Practices Board’s Ethical Standards for Auditors.

Scope of the audit of the financial statements

An audit involves obtaining evidence about the amounts and disclosures in the financial statements

sufficient to give reasonable assurance that the financial statements are free from material

misstatement, whether caused by fraud or error. This includes an assessment of: whether the

accounting policies are appropriate to the charitable company’s circumstances and have been

consistently applied and adequately disclosed; the reasonableness of significant accounting estimates

made by the trustees; and the overall presentation of the financial statements. In addition, we read all

the financial and non-financial information in the trustees’ report to identify material inconsistencies

with the audited financial statements. If we become aware of any apparent material misstatements or

inconsistencies we consider the implications for our report.

Opinion on financial statements

In our opinion the financial statements:

• give a true and fair view of the state of the charitable company’s affairs as at 31 October 2012

and of its incoming resources and application of resources, including its income and

expenditure, for the year then ended;

• have been properly prepared in accordance with United Kingdom Generally Accepted

Accounting Practice; and

• have been prepared in accordance with the requirements of the Companies Act 2006.

Opinion on other matter prescribed by the Companies Act 2006

In our opinion the information given in the trustees’ report for the financial year for which the financial

statements are prepared is consistent with the financial statements.

23


Independent auditors’ report for the year ended 31 October 2012

Matters on which we are required to report by exception

We have nothing to report in respect of the following matters where the Companies Act 2006 requires

us to report to you if, in our opinion:

1. adequate accounting records have not been kept or returns adequate for our audit have not

been received from branches not visited by us; or

2. the financial statements are not in agreement with the accounting records and returns; or

3. certain disclosures of trustees’ remuneration specified by law are not made; or

4. we have not received all the information and explanations we require for our audit.

Catherine L Sayer

Senior Statutory Auditor

for and on behalf of Sayer Vincent, Statutory Auditors

SAYER VINCENT

8 Angel Gate

City Road

LONDON

EC1V 2SJ

28 th March 2013

24


Statement of financial activities for the year ended 31 October 2012

Statement of financial activities

(incorporating an income and expenditure account)

2012 2011

Restricted Unrestricted Total Total

Note £ £ £ £

Incoming resources

Incoming resources from

generated funds

Voluntary income 2 - 425,661 425,661 307,183

Activities for generating

funds 3 - 54,949 54,949 -

Investment income - 2,992 2,992 492

Incoming resources from

charitable activities 4

Mobile Technology

Programme 266,341 - 266,341 1,240,681

Mentoring Programme 401,620 - 401,620 210,878

Enterprise Development

Programme 666,588 - 666,588 141,857

Total incoming resources 1,334,549 483,602 1,818,151 1,901,091

Resources expended

Costs of generating funds 5

Costs of generating

voluntary income 4,094 100,209 104,303 79,888

Costs of activities for

generating funds - 5,247 5,247 -

Charitable activities 5

Mobile Technology

Programme 923,962 61,352 985,314 244,228

Mentoring Programme 286,716 6,345 293,061 175,165

Enterprise Development

Programme 667,313 167,611 834,924 442,884

Governance costs 5 - 45,523 45,523 32,000

Total resources

expended 1,882,085 386,287 2,268,372 974,165

Net (outgoing) /incoming

resources before other

recognised gains and

losses 6 (547,536) 97,315 (450,221) 926,926

Foreign exchange rate

gain/(loss) (5,363) 11,224 5,861 (32,028)

Net movement in funds (552,899) 108,539 (444,360) 894,898

Reconciliation of funds

Total funds brought forward 1,020,410 121,180 1,141,590 246,692

Total funds carried forward 467,511 229,719 697,230 1,141,590

All of the above results are derived from continuing activities. There were no other recognised gains

or losses other than those stated above. Movements in funds are disclosed in Note 14 to the financial

statements.

25


Balance sheet as at 31 October 2012

Balance sheet company number: 06198893

as at 31 October 2012

2012 2011

Note £ £ £

Fixed assets

Tangible fixed assets 9 17,444 6,669

Current assets

Debtors 10 223,172 122,956

Cash at bank and in hand 1,452,688 1,308,445

1,675,860 1,431,401

Liabilities

Creditors: amounts due within one

year 11 650,842 296,480

Net current assets 1,025,018 1,134,921

Creditors: amounts due after more

than one year 12 345,232 -

Net assets 13 697,230 1,141,590

The funds of the charity 14

Restricted funds

In surplus 467,511 1,020,410

Unrestricted funds

General funds 148,050 77,263

Designated funds 81,669 43,917

Total charity funds 697,230 1,141,590

Approved by the trustees on 28 th March 2013 and signed on their behalf by

Robert Clinton

Chairman

26


Notes to the financial statements for the year ended 31 October 2012

Notes to the financial statements

1. Accounting policies

a. The financial statements have been prepared under the historical cost convention

and in accordance with applicable accounting standards and the Companies Act

2006. They follow the recommendations in the Statement of Recommended Practice,

Accounting and Reporting by Charities (SORP 2005).

The Foundation has taken the small company exemption from producing a cash flow

statement for the year in accordance with the Companies Act 2006.

b. Voluntary income is received by way of donations and gifts and is included in full in

the statement of financial activities when receivable. Rental income is recognised in

respect of the period to which it relates.

c. Donated services are recognised when the benefit to the charity is reasonably

quantifiable. The value placed on these resources is the estimated value to the

charity of the service received.

d. Revenue grants are credited to the statement of financial activities when received or

receivable whichever is earlier.

Where unconditional entitlement to grants receivable is dependent upon fulfilment of

conditions there is uncertainty as to whether the charity can meet such conditions the

incoming within the charity's control, the incoming resources are recognised when

there is sufficient evidence that conditions will be met. Where resource is deferred,

even in those cases where, under accounting conventions, the corresponding grant

payable is recognised in full.

e. Incoming resources for charitable activities are donations raised for projects. These

are recognised in the statement of financial activities when receivable.

f. Sponsorship income and ticket sales relating to events are recognised in the period in

which the events are held. Any sponsorship income received in advance is deferred

where it relates to events held in a future accounting period.

g. Restricted funds are to be used for specific purposes as laid down by the donor.

Expenditure which meets these criteria is charged to the fund.

h. Unrestricted funds are donations and other incoming resources received or generated

for the charitable purposes.

i. Designated funds are unrestricted funds earmarked by the trustees for particular

purposes.

j. Costs of generating funds relate to the costs incurred by the charitable company in

soliciting voluntary contributions, as well as the cost of any activities with a

fundraising purpose.

k. Resources expended are recognised in the period in which they are incurred.

Resources expended include attributable VAT which cannot be recovered.

l. Grants payable are included in the period in which the grants are approved by the

trustees. The programmes which are funded by the grants from the Foundation are

regularly reviewed and monitored. The trustees retain the rights to terminate the grant

commitments if they are not satisfied with the progress of the programmes during the

monitoring process, in which case the grants will be written back.

27


Notes to the financial statements for the year ended 31 October 2012

1. Accounting policies (continued)

m. Resources expended are allocated to the particular activity where the cost relates

directly to that activity. However, support costs, comprising the salary and overhead

costs of the central function, are apportioned on the following basis which are an

estimate, based on staff time, of the amount attributable to each activity. Of the total

support costs, 8% was allocated to the cost of generating funds, 27% on the Mobile

Technology Programme, 14% on the Mentoring Programme, 41% on the Enterprise

Development Programme and 10% on governance costs.

n. Governance costs are the costs associated with the governance arrangements of the

charity. These costs are associated with constitutional and statutory requirements

and include any costs associated with the strategic management of the charity’s

activities.

o. Depreciation is provided at rates calculated to write down the cost of each asset to its

estimated residual value over its expected useful life. The depreciation rates in use

are as follows:

Fixtures and fittings

Office equipment

5 years

3 years

Items of equipment are capitalised where the purchase price exceeds £500.

Depreciation costs are allocated to activities on the basis of the use of the related

assets in those activities. Assets are reviewed for impairment if circumstances

indicate their carrying value may exceed their net realisable value and value in use.

p. Rentals payable under operating leases, where substantially all the risks and rewards

of ownership remain with the lessor, are charged to the statement of financial

activities in the year in which they fall due.

q. Monetary assets and liabilities in foreign currencies are translated into sterling at the

rates of exchange ruling at the balance sheet date. The ensuing unrealised foreign

exchange rate loss is shown on the statement of financial activities. Transactions in

foreign currencies are translated into sterling at the average rate of exchange for the

year. Exchange differences are taken into account in arriving at the net incoming

resources for the year.

2. Voluntary income

2012 2011

Restricted Unrestricted Total Total

£ £ £ £

Donations from individuals

and organisations - 408,424 408,424 270,472

Donated services and facilities - 16,640 16,640 23,128

Gift aid income - 597 597 13,583

Total - 425,661 425,661 307,183

28


Notes to the financial statements for the year ended 31 October 2012

3. Activities for Generating Funds

2012 2011

Restricted Unrestricted Total Total

£ £ £ £

Fundraising events - 45,750 45,750 -

Rental income - 9,199 9,199 -

Total - 54,949 54,949 -

4. Incoming resources from charitable activities

(a) Mobile Technology

Programme

2012 2011

Restricted Unrestricted Total Total

£ £ £ £

Retailer Study 15,811 - 15,811 91,087

Programme support 38,069 - 38,069 57,667

Mobile Services Projects - - - 959,850

Nyanza Project - - - 132,077

Supply Chain Management

Project 212,461 - 212,461 -

266,341 - 266,341 1,240,681

2012 2011

Restricted Unrestricted Total Total

£ £ £ £

(b) Mentoring Programme 401,620 - 401,620 210,878

2012 2011

Restricted Unrestricted Total Total

£ £ £ £

(c) Enterprise Development

Programme

Women Mean Business - - - 137,785

Fostering Young Israeli Women

Entrepreneurs Project

163,314 - 163,314 3,072

Business Development Centre

for Women - - - 1,000

Self-Worth Foundation Fostering

Women Entrepreneurs Project 319,908 - 319,908 -

Sierra Leone Entrepreneurs

Project 49,614 - 49,614 -

Middle East Entrepreneurs

Project 102,926 - 102,926 -

Launch and Workshop 30,826 - 30,826 -

666,588 - 666,588 141,857

29


Notes to the financial statements for the year ended 31 October 2012

5. Total resources expended

Cost of

generating

funds

Mobile

Technology

Programme

Mentoring

Programme

Enterprise

Development

Programme

Governance

costs

Support

costs

2012

Total

2011

Total

£ £ £ £ £ £ £ £

Staff costs (Note 7) 63,913 101,210 111,742 107,762 10,326 90,360 485,313 287,364

Other staff costs 145 - 4,590 - - 14,935 19,670 12,157

Fundraising events 5,247 - - - - - 5,247 -

Consultancy fees - - - - - - - 1,000

Grants payable

to partners - 519,384 64,499 610,625 - - 1,194,508 315,508

Travel and

subsistence - - - - 6,773 6,773 4,344

Other project costs - 52,964 80,240 20,837 - - 154,041 100,807

Conference

delivery - - - - - - - 68,936

Marketing and

promotion 21,105 - - - - 10,349 31,454 16,262

Research - 247,959 - - - 3,728 251,687 71,214

Premises - - - - - 63,012 63,012 47,491

Office costs - - - - - 39,207 39,207 28,516

Audit and

accountancy - - - - 8,160 789 8,949 16,005

Legal and

professional - - - - 1,517 - 1,517 2,870

Depreciation - - 90 - - 6,904 6,994 1,691

90,410 921,517 261,161 739,224 20,003 236,057 2,268,372 974,165

Support costs 19,140 63,797 31,900 95,700 25,520 (236,057) - -

Total resources

expended 109,550 985,314 293,061 834,924 45,523 - 2,268,372 974,165

All grants are payable to partner institutions for project costs as outlined on page 31. The Foundation does not make grants to individuals.

30


Notes to the financial statements for the year ended 31 October 2012

5. Total resources expended (continued)

Grant details:

Mobile Technology programme

Partner

Total

grant

Mobile Services Projects Youth for Technology 124,696

Mobile Services Projects Mercy Corps 144,688

Supply Chain Management Project Mahila SEWA Trust 250,000

£

Mentoring Programme

Mentoring Programme

Yayasin Pendidikan and Vokasional

Wanita Malaysia 64,499

Enterprise Development Programme

Fostering Young Israeli Women

Entrepreneurs Project Western Galilee College 122,545

Middle East Entrepreneurs Project Tomorrow’s Youth Organization 172,984

Self-Worth Foundation Fostering

Women Entrepreneurs Project Economic Empowerment for Women 135,048

Self-Worth Foundation Fostering

Women Entrepreneurs Project

Koret Israel Economic Development

Funds 135,048

Sierra Leone Entrepreneurs Project AFFORD Sierra Leone 45,000

1,194,508

6. Net outgoing resources for the year

This is stated after charging: 2012 2011

£ £

Depreciation 6,994 1,691

Auditors' remuneration:

audit 6,800 6,500

other services Nil 750

Trustees' remuneration Nil Nil

Trustees' reimbursed expenses Nil Nil

31


Notes to the financial statements for the year ended 31 October 2012

7. Staff costs and numbers

Staff costs were as follows: 2012 2011

£ £

Salaries and wages 436,743 258,526

Social security costs 48,570 28,838

485,313 287,364

Total emoluments paid to staff were: 436,743 258,526

One employee earned between £60,001 and £70,000 during the year (2011:one).

No remuneration, directly or indirectly, out of the funds of the Foundation was paid or payable for

the year to any trustee or to any person or persons known to be connected to them.

The average weekly number of employees (full-time equivalent) during the year was as follows:

2012 2011

No.

No.

Fund generation 1.5 1.1

Charitable activities 7.3 3.9

Support 2.3 1.2

Governance 0.2 0.2

11.3 6.4

8. Taxation

The charitable company is exempt from corporation tax as all its income is charitable and is

applied for charitable purposes.

9. Tangible fixed assets

Fixtures and

fittings

Office

equipment Total

£ £ £

Cost

At the start of the year 1,378 8,742 10,120

Additions in year 2,935 14,834 17,769

At the end of the year 4,313 23,576 27,889

Depreciation

At the start of the year 646 2,805 3,451

Charge for the year 717 6,277 6,994

At the end of the year 1,363 9,082 10,445

Net book value

At the end of the year 2,950 14,494 17,444

At the start of the year 732 5,937 6,669

32


Notes to the financial statements for the year ended 31 October 2012

10. Debtors

2012 2011

£ £

Other debtors 23,071 23,052

Prepayments 17,694 16,197

Donations and sponsorships receivable 182,407 83,707

223,172 122,956

11. Creditors: amounts due within one year

2012 2011

£ £

Trade creditors 11,525 10,902

Grant commitments 565,094 232,200

Taxation and social security 15,439 9,858

Other creditors 39,982 32,812

Accruals 16,543 10,708

Deferred income 2,259 -

650,842 296,480

12. Creditors: amounts due after more than one year

2012 2011

£ £

Grant commitments 345,232 -

345,232 -

13. Analysis of net assets between funds

Restricted Unrestricted Designated Total

funds

funds

funds funds

£ £ £ £

Tangible fixed assets 451 16,993 - 17,444

Net current assets 812,292 131,057 81,669 1,025,018

Creditors due after

more than one year (345,232) - - (345,232)

Net assets at the end of the

year 467,511 148,050 81,669 697,230

33


Notes to the financial statements for the year ended 31 October 2012

14. Outgoing resources including foreign exchange gains and losses

At the

start of

the year

Incoming

resources

Outgoing

resources Transfers

At the

end of

the year

£ £ £ £ £

Restricted funds

Mentoring

Programme 35,713 401,620 (286,716) - 150,617

Enterprise

Development

Programme* - 666,588 (667,313) - (725)

Mobile

Technology

Programme † 980,603 266,341 (929,325) - 317,619

Fundraising 4,094 - (4,094) - -

Total restricted

funds ‡ 1,020,410 1,334,549 (1,887,448) - 467,511

Unrestricted

funds

General funds 77,263 494,826 (374,039) (50,000) 148,050

Designated

funds

General

Reserve Fund - - - 50,000 50,000

Mobile

Technology

Programme 13,917 - (5,903) - 8,014

Mentoring

Programme 30,000 - (6,345) - 23,655

Total

unrestricted

funds 121,180 494,826 (386,287) - 229,719

Total funds 1,141,590 1,829,375 (2,273,735) - 697,230

* The Oak Foundation has awarded the Cherie Blair Foundation for Women a grant, payable over two

years, part of which was received in the 2011-12 financial year. However, the expenditure which

corresponds to this income has been recognised in large part in this financial year in accordance with

standard accounting practice. In the following financial year, the accounts will show the receipt of the

remaining part of this grant, which totals £101,406.


The Vodafone Foundation in India has awarded the Cherie Blair Foundation for Women a grant,

payable in three instalments. Two instalments have been included in income in the 2011-12 financial

year. However, the expenditure which corresponds with this grant has been accounted for in large part

in the 2011-12 year. The remaining instalment, totalling £94,773 will be accounted for in future

accounting periods.

‡ If the expenditure which corresponds to the above two awards had not been recognised in large part in

the current financial year, then the restricted funds at year end would be £766,642.

34


Notes to the financial statements for the year ended 31 October 2012

14. Outgoing resources including foreign exchange gains and losses (continued)

Purposes of restricted funds

Mentoring Programme

The Mentoring Women in Business Programme was developed in collaboration with Google

to enhance the success of women-led businesses in developing and emerging markets.

Together, we built a virtual community for women entrepreneurs to support each other and

receive online mentoring and advice.

Enterprise Development Programme

The Enterprise Development Programme develops women’s enterprise by providing tailored

business support through strategic partnerships. Complemented by the mentoring and mobile

technology initiatives, the programme facilitates access to networks, training and finance to

foster women-led businesses. The Enterprise Development Programme is built from projects

within our former Business Development Programme. In 2012, a programme manager was

hired to further develop the strategy and launch the Enterprise Development Programme,

which encompasses the business development work of the Foundation. A programme launch

was planned to take place just after the end of the financial year as well as a workshop for

beneficiaries in London, scheduled around the launch activities.

Fostering Young Israeli Women Entrepreneurs

The Foundation, in partnership with Western Galilee College, has developed a

comprehensive economics and management degree programme to develop women’s

entrepreneurial skills.

Middle East Entrepreneurs Project

In partnership with Tomorrow’s Youth Organization, we are supporting women entrepreneurs

to develop sustainable businesses through product development support, access to new

markets, networks, mentoring and business skills training.

Self-Worth Foundation Fostering Women Entrepreneurs Project

We have joined forces with Economic Empowerment for Women and Koret Israel Economic

Development Fund to support Jewish and Arab women entrepreneurs in developing and

expanding their micro-enterprises through business incubation services, access to capital and

a peer-to-peer network.

Sierra Leone Women Entrepreneurs Project

Together with the African Foundation for Development in Sierra Leone, we are establishing a

national network for women entrepreneurs that will offer tailored business services, peer

support, networking opportunities, and access to markets and capital to facilitate the growth of

their businesses.

Mobile Technology Programme

Combining research, projects and advocacy, the Mobile Technology Programme aims to

create sustainable economic opportunities for women entrepreneurs through the use of

mobile phones and services.

35


Notes to the financial statements for the year ended 31 October 2012

14. Outgoing resources including foreign exchange gains and losses (continued)

Mobile Value Added Services Projects

Taking forward the work of our Women and Mobile report, we have started a new project with

support from ExxonMobil that will test tailored mobile value-added services for women

entrepreneurs in Indonesia, Nigeria and Egypt. Through this project, we are identifying the

challenges specifically faced by women entrepreneurs in our three chosen target markets and

addressing them using mobile value-added services. The benefits of this two-year project will

be enjoyed by thousands of women entrepreneurs.

Mobile Retail Channels Study

Through new research, we have developed insights on the inclusion of women entrepreneurs

in the retail channels of mobile operators. This research is the first of its kind and spells out

the commercial justifications for mobile operators to include more women in their retail

channels. Thousands of potential business opportunities for women exist in this sphere, which

this study highlights.

Supply Chain Management Solutions Project

The Foundation, alongside the Vodafone Foundation in India, is working in partnership with

India’s Self Employed Women’s Association (SEWA) to develop a mobile-based Management

Information System (MIS) for SEWA’s Rural Distribution Network (RUDI).

Fundraising

Fundraising outgoing resources covered part of the cost of a full-time fundraiser, in line with

restrictions on the donation given.

Purposes of designated funds

General Reserve Fund

This has been established in line with the trustees’s objective of building up a general reserve

as part of the Foundation’s risk management, financial management and budget process.

Mobile Technology Programme

This meets the general and miscellaneous expenditure of the Mobile Technology Programme

that does not fall under project specific restricted funding.

Mentoring Women in Business Programme

This meets the general and miscellaneous expenditure of the Mentoring Women in Business

Programme.

15. Operating lease commitments

The charity had annual commitments at the year-end under operating leases expiring as

follows:

Property

2012 2011

£ £

2 - 5 Years 35,392 -

35,392 -

36


Reference and administrative details for the year ended 31 October 2012

Reference and administrative details

Company number 06198893

Charity number 1125751

Registered office and

operational address

66 Lincoln's Inn Fields

London

WC2A 3LH

Head office PO Box 60519

London

W2 7JU

Founder and Patron

Trustees

Cherie Blair

Trustees, who are also directors under company law, who served

during the year and up to the date of this report were as follows:

Robert Clinton, Chairman

Sara Carello

Pat O'Driscoll (until 9 June 2012)

Martin Kaye

Jessica Learmond-Criqui

Amy Christiansen Si-Ahmed

Bankers Lloyds TSB Coutts & Co

25 Gresham Street 440 Strand

London

London

EC2 7HN

WC2R 0QS

Solicitors

Auditors

Farrer & Co

66 Lincoln's Inn Fields

London

WC2A 3LH

Sayer Vincent

Chartered accountants and registered auditors

8 Angel Gate

City Road

London

EC1V 2SJ

Principal staff

Henriette Kolb, CEO

37


Acknowledgements

The Foundation is grateful for the generous support received from a range of donors and partners.

Working together, we can make a difference to women entrepreneurs around the world.

We would like to express our thanks to our key supporters listed below, as well as our other donors

and those who choose to remain anonymous.

Mr and Mrs Tony and Cherie Blair

SNR Denton

Enterprise Rent-A-Car

UK Jewish Agency

DHL Living Responsibly Fund

Hewlett Packard

Microsoft

Eversheds

Buffin Foundation

Ernst & Young

Cherie Blair pictured with business owner, Caren Dulo in Western Kenya, during a visit to our Nyanza Women’s

Economic Empowerment Project in partnership with Care International UK, photo by Kate Holt

38


Cherie Blair Foundation for Women

PO Box 60519, London W2 7JU

Registered Charity No. 1125751

Registered Office:

66 Lincoln’s Inn Fields, London WC2A 3LH

enquiries@cherieblairfoundation.org

www.cherieblairfoundation.org

© Cherie Blair Foundation for Women 2013

38

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