Alfanar's Success - A Tribute to the Strength of Tarek Ben Halim's Vision

Thoughts from Alfanar's Board Chair, Lubna S. Olayan Dear Friends, 2010 was a remarkably challenging, yet enriching year for Alfanar, the Arab world’s first venture philanthropy organisation.  On December 11, 2009, we lost our inspired founder and the world lost a visionary, my very dear friend Tarek Ben Halim.  Today, as we report to you on Alfanar’s progress, we are proud to attribute our success to Tarek’s inspiration and his growing legacy. We at Alfanar pride ourselves on being a bold, committed, and rigorous organisation.  We are focused on achieving the vision Tarek set out for us—that by backing new social ventures and fostering the growth of self-reliant and enterprising social purpose organisations, we might create a better future for those most in need across the Arab region. Through the perseverance of the Tarek Ben Halim Memorial Committee chaired by Ms. Charlotte Boyle and the support of over 35 donor-investors this year, including our US affiliate Alfanar, Inc., U.S., we raised around £420,000 in 2010.  Over the next five years, we are working to cultivate deep and multi-faceted partnerships with our donor-investor community.  We have set a goal of raising over £3,000,000 to support the growth of Alfanar’s venture philanthropy work in Egypt, Lebanon, and the Gulf by 2015. In 2010, our Cairo office, headed by Managing Director Nada Mobarak and Programme Assistant Heba El Sayed, successfully added four new organisations to Alfanar’s portfolio of partners in Egypt, increasing our investment spend to £111,000, up from £65,000 in 2009.  We doubled our full-time team to four, hiring Managing Director Myrna Atalla in London to head up our fundraising and expansion efforts and Programme Assistant Tamara Ben-Halim to pilot Alfanar’s new youth outreach initiative – “Jussoor.  Connect for Change”. A special thank you goes to Alfanar Trustee Ms. Julia Middleton who, from 2009 through 2010, dedicated her time and passion to heading the Board and overseeing operations during a difficult transition period.  Today, we are proud to announce that the Alfanar Board has appointed two new trustees, Ms. Cynthia Oakes and Mr. Hakeem Belo Osagie. We thank everyone who made a donation in 2010 and has supported us over the years. We would never be moving into 2011 with such momentum without your dedication and belief in Tarek’s vision and in Alfanar’s mission. --Lubna S. Olayan Alfanar Board Chair