Annual Report 2009

MAR FUND

4 Environmental Funds4 National representatives1 CCAD representative7 Donors or Collaborators

BOARD OF DIRECTORS:Executive Director

+Assistant

AdministrativeCoordination

TechnicalCoordination

EvaluationCommittee

Grants ReviewCommittee

FinanceCommittee

DevelopmentCommittee

In-countryadministrationand oversight

HondurasFund(FB)

GuatemalaFund(FCG)

BeliceFund

(PACT)

MéxicoFund

(FMCN)

The Mesoamerican Reef Fund (MAR Fund) was created as a fi nancial mechanism to support conservation and sustainable use of natural resources in the Mesoamerican Reef Region.

To optimize performance, the MAR Fund staff and Board are supported by four committees: Grants Review, Finance, Evaluation, and Development Committee.

VISIONBy 2013, the Mesoamerican Reef Fund will be known and respected as a trustworthy and transparent fundraising and granting mechanism able to sustain and fi nance effective transnational alliances, policies, and practices that conserve the Mesoamerican reef and advance the health and well-being of the region’s people.

MISSIONTo enable innovative, transnational solutions to critical Mesoamerican reef issues through providing meaningful, long-term fi nancial support and trustworthy reef management advice so that future generations can enjoy and benefi t from a thriving reef system.

EDITORIAL

CREDITS

INFORMATION

COVER PHOTOS:• Peter Rockstroh• Melanie McField• COBI• TIDE

TEXTS:Claudio González

REVISION:Maria José González

Maria José GonzálezExecutive Director

MAR Fund0 calle 19-45 “A” zona 15Vista Hermosa IIGuatemala, Guatemala 01015TeleFax: (502) 2369-4996www.fondosam.orgwww.marfund.orge-mail: mjgonzalez@marfund.org

LETTER FROM THE CHAIRMAN

ANNUAL REPORT 2009

On behalf of the Board of Directors and as Chairman of the MAR Fund, I am pleased to share our achievements

throughout 2009.

We have obtained signifi cant results through the projects that have been supported and the partnerships we have

established, oriented towards the consolidation of a truly regional and lasting fund that will continue supporting

conservation and sustainable use initiatives in the Mesoamerican Reef.

During 2009, we established an important partnership with and support from the German Development Bank (KfW).

In addition, the Community Fisheries Program has been implemented through two pilot projects, which from the onset

have been of great interest to both authorities and civil society in all four countries of the region. We have given

continuity to the Grants Program by launching the third call for proposals with the objective of supporting the design,

implementation and monitoring of fi sheries co-management mechanisms in the Mesoamerican Reef.

As in previous years, the MAR Fund is committed to continuing to raise the funds that are required for the strategic

priorities in the region. We fi rmly believe that the direction taken years ago to conserve the Mesoamerican Reef – a

Mesoamerican resource of global importance – was the correct one.

Finally, I would like to express our gratitude and acknowledge the valuable support from The Summit Foundation, AVINA

Foundation, German Development Bank (KfW), Conservation International, Marisla Foundation, Oak Foundation, The

Curtis and Edith Munson Foundation, The Henry Foundation, The Central American Comission on Environmental and

Development (CCAD), and World Wildlife Fund. The confi dence they have placed in us is allowing us to fulfi ll our

mission and reach our goals.

Sincerely,

Lorenzo RosenzweigChairman

ANNUAL REPORT 2009

PRIORITY MARINE PROTECTED

AREAS

The centerpiece of MAR Fund’s programmatic activities is the consolidation of a functional network of interconnected marine and coastal protected areas to ensure the health of the Mesoamerican Reef ecosystems.

There are at least 63 protected areas in the Mesoamerican Reef region. Given their large number and to ensure improved effi ciency and achievement of their conservation objectives, a priority-setting process was facilitated with the purpose of establishing an initial regional network of priority coastal and marine protected areas of high ecological value in all four countries of the MAR region. The investment needs for each protected area were established as part of the process in order to maximize the impact of the network.

As a result of the participative priority-setting process, fourteen protected areas have been established, distributed among the four countries of the region (Table 1).

What we have supported in these priority areas is summarized in the following pages.

Figure 1 shows the location of the priority protected areas.

COUNTRY

BELICE

PROTECTED AREA

Table 1. Priority Coastal and Marine Protected Areas in the MAR Region

Figure 1. Location of priority protected areas.

CUBA

GUATEMALA

EL SALVADOR

HONDURAS

NICARAGUA

BELIZE

CARIBBEANSEA

YUCATANBASIN

Yum BalamProtected Area

of Flora and Fauna

Santuario del ManatíEcological Conservation Area

Banco ChinchorroBiosphere Reserve

Arrecifes de Xcalak National Park

Corozal Bay Wildlife Refuge

South Water Caye Marine Reserve

Payneʼs CreekNational Park

Port HondurasMarine Reserve

Punta de ManabiqueWildlife Refuge

Barras del RioMotagua Omoa Baracoa

Bioilogical Reserve

Rio SarstúnMultiple Use Area

Turtle Harbour - Rock Harbour Wildlife Refuge

Capiro y CalenturaNational Park

(Laguna de Guaimoreto)

Sandy Bay West End Marine ReserveGulf of

Honduras

CaymanRidge

CaymanTrench

MesoamericanReef System

MesoamericanReef System

Scale 1:3,500,000

CozumelIsland

CampecheBank

Gulf ofMexico

PACIFIC OCEAN

MEXICO

ANNUAL REPORT 2009

Figure 2. Location of the projects supported during the second call for proposals.

Second Request for Proposals. Results

We launched the second request for proposals in 2008. The objective was to fi nance innovative applied management practices in the initial priority area network with private sector participation in public-private partnerships. Six projects were supported.

Figure 2 shows the location of the approved projects: All projects achieved the expected results with success and exceeded expectations. Key results are listed below:

1. Community Stewards Program: Payne’s Creek National Park and Port Honduras Marine Reserve, Belize.

• Thirteen community leaders were recruited, trained, and graduated on basic computer skills, report presentation and writing, and communication. Use and management of GPS devices was also included in the training program.

• Radios, GPS units, spotlights, binoculars, life vests, raincoats, and fl ashlights were purchased and provided to each one of the community leaders who completed the training.

2. Tobacco Caye Marine Station; a facility established for regional training and education, and the foundation for a sustainable model of community co-management of the South Water Caye Marine Reserve (SWCMR) through community outreach and education programs.

• The Tobacco Caye Marine Station (TCMS) was built on Tobacco Caye, located within the South Water Caye Marine Reserve. The station includes a multiple use room furnished with two storage closets, one working table, and 12 benches for 2 persons each. Two computers with Internet access are available, powered through a solar energy system. The purpose of the station is to provide training opportunities to groups of college students and school children. The website of the marine station has been designed and published (www.tcmsbelize.org) and includes information on the activities carried out in the station.

GRANTS PROGRAM

Arrecifes de Sian Kaʼan Biosphere Reserve

Banco Chinchorro Biosphere Reserve

South Water Caye Marine Reserve

1

3

5

2

4

6

6

Gulf ofHonduras

PACIFIC OCEAN

CUBA

GUATEMALA

EL SALVADOR

HONDURAS

NICARAGUA

BELIZE

CARIBBEANSEA

YUCATANBASIN

YUCATANPLAIN

CaymanRidge

CaymanTrenchMesoamerican

Reef System

MesoamericanReef System

Scale 1:3,500,000

CozumelIsland

YucatanChannel

CampecheBank

Gulf ofMexico

MEXICO

N

Turtle Harbour - Rock Harbour Wildlife Refuge

Payneʼs CreekNational Park

Rio SarstúnMultiple Use Area

• An environmental education program was implemented for 180 students from six schools of the Stan Creek community. Children participated in fi eld trips to the South Water Caye Marine Reserve (SWCMR) and the Tobacco Caye Marine Station (TCMS), learning about bio-diversity and the importance of and threats to coral reefs, mangrove forests, and sea grasses.

3. Establishment of “No Trawling Zones” by Fishermen within the Río Sarstún Multiple Use Area, Guatemala.

• Members of a cooperative named Cooperativa Integral de Pesca Río Dulce, Livingston, who engage in shrimp fi shing through trawling, and fi shermen from the Río Sarstún Multiple Use Area, who are not trawlers, proposed two different no-trawling zones in Cocolí Bay and designed the respective fi shing management plans.

• The Fisheries and Aquiculture Management Unit (UNIPESCA), the Guatemalan Fisheries Authority, is evaluating both proposed no-trawling zones with the intent of fusing them into one single zone and including it into the revised regulations of the Fishing Law.

• The fi shing community of Cocolí Bay participated actively in building and installing three fi sh aggregation devices in the bay to protect and increase the fi sh population in the area.

4. Integrated Management of the Utila Marine Area, Honduras.

• The Bay Islands Conservation Association (BICA) implemented an environmental education plan for 344 children in six schools on the island. Several activities were carried out as part of this effort, including Pumpkin Hill beach clean-up and a puppet show about waste recycling, among others.

• All 90 mooring buoys in Utila were repaired, mapped, and numbered.

• A Code of Conduct for tourists was developed and distributed to visitors to Utila, in order to reduce the negative impact of recreational diving activities on the reef as well as illegal resource extraction.

Community Stewards Program training workshop.PHOTO BY: TIDE

Tobacco Caye Marine Station.PHOTO BY: Monkey Bay Wildlife Sanctuary.

Preparing the fi sh aggregation devices (FAD’s) to be installed in Cocolí Bay.PHOTO BY: FUNDAECO

ANNUAL REPORT 2009

• Construction of the Visitor Center of Utila was completed. The Center will provide information to tourists about the following: diving locations, activities, services and businesses available in Utila. Furthermore, handicrafts made by islanders will be sold at the Center.

5. Sustainable Fishing and Marketing of the Queen Conch (Strombus gigas) from the Banco Chinchorro Biosphere Reserve (RBBCH, Spanish acronym), Mexico.

• A Committee Against Environmental Crime was created for the Banco Chinchorro Biosphere Reserve. The Committee is made up by federal, state, and municipal institutions, fi shermen’s organizations, and non-governmental organizations (NGOs), and its objective is to foster sustainable fi shing in the region through increased coordination and surveillance.

• The allowed volume of Queen conch extraction was reduced to 6 tons – half the volume allowed in 2008.

• The closed season for Queen conch extraction was increased by two months, currently including the month of February and the period from June-November.

• To disseminate information about and promote the closed season, 10,000 stickers, 1,200 calendars, and 5,000 bookmarks illustrating the closed season were produced and distributed among fi shermen, salespersons, tourists, and the community in general in RBBCH. In addition, two radio programs were broadcast and three newspaper articles were published.

• The amount of time used for surveillance actions by authorities was increased by 11.7% to patrol sites with the highest probabilities of poaching, according to the data base with 7 years of information on critical areas.

• One hundred and one supervision and surveillance expeditions were implemented in RBBCH, during which 66 poacher vessels were discoursed, two vessels were confi scated, and one fi shing permit was revoked. In addition, 270 expeditions were carried out in Xcalak Reef National Park, as illegally caught marine resources transit through the park.

PHOTO BY: BICA

Utila Visitors Center.PHOTO BY: BICA

Repairing and mapping the 90 buoys from the Utila diving sites.PHOTO BY: BICA

ANNUAL REPORT 2009

• The National Commission of Natural Protected Areas (Comisión Nacional de Áreas Naturales Protegidas – CONANP) trained 141 employees from federal and state institutions to improve patrolling and surveillance efforts.

6. Lobster Certifi cation and Marketing in Banco Chinchorro. Pilot project using a fi shing collective’s brand: “Lobsters of the Banco Chinchorro and Sian Ka’an Biosphere Reserves”, Mexico.

• In June 2009 the collective lobster brand “Chakay from Banco Chinchorro and Sian Ka’an” was certifi ed.

• Since the creation of the brand, lobster has increased its market value by 30% because its sustainable fi shing methods are recognized by hotels, restaurants, and individual buyers who are willing to pay more for a product that is managed in a sustainable manner.

• The Cooperative now sells the product directly to the customers without going through middlemen.

Monitoring the lobster from Banco Chinchorro Biosphere Reserve and Sian Ka’an. PHOTO BY: RAZONATURA.

Fisher’s Integrator Cooperative.PHOTO BY: RAZONATURA

ANNUAL REPORT 2009

Illegal fi shers captured by the authorities.PHOTO BY: Banco Chinchorro Biosphere Reserve.

Committee Against Environmental Crime.PHOTO BY: Banco Chinchorro Biosphere Reserve.

The third request for proposals was launched on May 29. The purpose of this request for proposals is to support innovative initiatives geared toward the design, establishment, management, and monitoring of co-management mechanisms for fi sheries resources by organized groups of fi shermen and/or to support enforcement of existing fi shing regulations. Table 2 lists the approved projects.

Figure 3 shows the location of approved projects.

Third Request for

Proposals

Table 2. Approved Projects during the Third Call .

1

2

3

4

5

PROTECTED AREANo. PROJECT

Building the capacity of fishermen associations for involvement in community management of Port Honduras Marine Reserve (PHMR).

Sustainable exploitation of Queen conch and spiny lobster in Banco Chinchorro Biosphere Reserve and Xcalak Reef National Park.

Optimization of the sustainable use, artisanal innovation, and alternatives for the co-management and use of the collective lobster brand: “Chakay from Banco Chinchorro and Sian Ka´an Biosphere Reserves”.

Restocking the Cayo Centro zone with Queen conch (Strombus gigas) to be managed by the Banco Chinchorro fishing community.

Enforcement of fishing regulations in the Gulf of Honduras: Phase 2

Port Honduras Marine Reserve (PHMR), Belize

Gulf of Honduras

Banco Chinchorro Biosphere Reserve / Xcalak Reef National Park, Mexico/ Sian Ka’an Biosphere Reserve, Mexico

Banco Chinchorro Biosphere Reserve / Xcalak Reef National Park, Mexico

Banco Chinchorro Biosphere Reserve, Mexico

Figure 3: Location of approved projects.

ANNUAL REPORT 2009

1

33

4

4

5

2

PACIFIC OCEAN

CUBA

GUATEMALA

EL SALVADOR

HONDURAS

NICARAGUA

BELIZE

CARIBBEANSEA

YUCATANBASIN

YUCATANPLAIN

CaymanRidge

CaymanTrench

MesoamericanReef System

MesoamericanReef System

Scale 1:3,500,000

CozumelIsland

YucatanChannel

CampecheBank

Gulf ofMexico

MEXICO

N

Gulf of HondurasPort HondurasMarine Reserve

Arrecifes de Sian Kaʼan Biosphere Reserve

Arrecifes de Xacalak National Park

Banco Chinchorro Biosphere Reserve

Pilot Projects.

After the workshops that were successfully implemented in all four countries of the MAR region, which exceeded expectations in terms of attendance, interest, and collaboration among participants and organizers, we had the opportunity to fi nance two pilot projects through the support of the AVINA Foundation.

Members of the Cooperative of Fishermen of Puerto Morelos National Reef Park in Mexico were trained in scuba diving and ecosystem monitoring, with technical assistance by the Mexican NGO Comunidad y Biodiversidad (COBI). The Cooperative and the National Commission of Natural Protected Areas (CONANP), the institution managing the park, established eight marine reserves (no take zones). After monitoring both inside and outside the designated marine reserves, a baseline was established for biodiversity and health status of the reef. The impact of the closed season on the reef ecosystem was also evaluated. A monitoring plan will now be developed so that the long-term changes and recovery processes of the reef can be measured.

In Honduras, the three fi shing communities of the Barras de Cuero y Salado Wildlife Refuge established an association of fi shermen named Asociación de Pescadores La Rosita, Cuero y Salado (APROCUS). The Association, together with the Cuero y Salado Foundation (FUCSA), which is the organization managing the Refuge, and with technical assistance from WWF, demarcated three fi sheries co-management sites within the Refuge, including a total of four marine reserves (no take zones) of 1 km in diameter each. Subsequently, APROCUS submitted a proposal for an agreement authorizing them to co-manage the three established fi shing sites together with FUCSA. The agreement also involves the Institute of Forest Conservation (Instituto de Conservación Forestal – ICF) and the Secretariat of Agriculture and Livestock (Secretaría de Agricultura y Ganadería – SAG). Both authorities have reviewed and approved the agreement, which will be signed in 2010.

Fishermen in the following new sites have expressed interest in participating in the co-management of fi sheries:

COMMUNITY

FISHERIES PROGRAM

Figure 4. Location of pilot projects from the Community Fisheries Program.

ANNUAL REPORT 2009

1

2

PACIFIC OCEAN

CUBA

GUATEMALA

EL SALVADOR

HONDURAS

NICARAGUA

BELIZE

CARIBBEANSEA

YUCATANBASIN

YUCATANPLAIN Cayman

Ridge

CaymanTrench

Gulf ofHonduras

MesoamericanReef System

MesoamericanReef System

Scale 1:3,500,000

CozumelIsland

YucatanChannel

CampecheBank

Gulf ofMexico

MEXICO

N

Arrecife de Puerto MorelosNational Park

Barras de Cuero y SaladoWildlife Refuge

APROCUS’s Board of Directors taking oath during its creation.PHOTO BY: Martín Galo.

Members of APROCUS analyzing the co-managementarea to be proposed.

PHOTO BY: Martín Galo.

Fishermen monitoring within the Arrecife de Puerto Morelos National Park. PHOTO BY: COBI

a. Punta Gorda and Monkey River in Port Honduras Marine Reserve, Belizeb. San Francisco del Mar and La Graciosa Bay in Punta de Manabique Wildlife Refuge, Guatemalac. West End, Roatán, Hondurasd. Punta Gorda, Roatán, Hondurase. Capiro and Calentura National Park, Honduras

Figure 4 shows the location of pilot projects from the Community Fisheries Program.

“Special Enforcement Program for the Southern Belize Barrier Reef Complex” Project

The goal of this project developed by the Southern Environmental Association (SEA) of Belize, is to build a strong interagency enforcement team that will actively take on patrolling and enforcement in Southern Belize to reduce illegal fi shing activities.

To achieve this objective, an inter-institutional surveillance group was established and equipped. The group includes two representatives from SEA, two from the Belize Fisheries Department, and two from the Belize Police Force. The members of this group have been trained in conservation of natural resources, protected area management, and fi shing regulations. The group patrols the targeted marine areas and prosecutes fi shermen engaged in illegal fi shing.

The patrolling results at the end of the year were as follows: 67 detentions and 70 convictions of illegal fi shermen (Belizean nationals and foreigners). In addition, a data base has been established which records the number of vessels, accused individuals, charges, convictions, and the percentage of successful proceedings during the year on a monthly basis.

“Enforcement of Fishing Regulations in the Gulf of Honduras: Phase 1” Project

This project was implemented by the Tri-national Alliance for Conservation of the Gulf of Honduras (Alianza Trinacional para la Conservación del Golfo de Honduras – TRIGOH), initially focusing on the Guatemalan portion of the GoH and strengthening compliance fi shing regulations.

Relevant results from the project are listed below:

ANNUAL REPORT 2009

PHOTO BY: Peter Rockstroh

PHOTO BY: TIDE

PHOTO BY: TIDE

• A baseline of illegal fi shing actions in the Guatemalan Caribbean was established, with authorities and fi shermen providing feedback annually.

• A system to announce closed seasons and protected species through banners and posters placed in strategic locations, to promote awareness of the prohibition against the purchase and consumption of species during closed season.

• Creation and ownership of a fi shing Code of Conduct by members of TRIGOH, with the aim of achieving sustainable use of fi sheries resources.

• Implementation of the fi rst tri-national forum for members TRIGOH, discussing priorities for the work that should be carried out by those involved in the fi sheries sector.

“Conservation of Marine

Resources in Central America”

Project

The MAR Fund is on the cusp of securing a 5 million Euro/5 year award from the German Development Bank (KfW) to ensure the conservation and sustainable use of marine and coastal resources in four selected MPAs, one in each country of the MAR. The pre-feasibility study (2007) and feasibility study (2009), required for the assessment process of the Bank, were completed with fi nancial support from KfW.

The project design was completed based on the most recent study. The objective of the project is to consolidate select marine protected areas in the region and to ensure conservation and sustainable use of their marine and coastal resources in the medium term.

ANNUAL REPORT 2009

The project will include the following components:

• Protection and conservation of marine and coastal resources;

• Best practices for management and sustainable use of marine and coastal resources;

• Effective communication and information sharing to adopt new practices.

The following priority areas have been selected for this stage of the project:

• Port Honduras Marine Reserve, Belize• Punta de Manabique Wildlife Refuge, Guatemala• Sandy Bay West End Marine Reserve, Honduras• Yum Balam Flora and Fauna Protection Area, Mexico

In November 2009, a visit to assess three of the selected protected areas was carried out: Punta de Manabique, Sandy Bay West End, and Yum Balam. Meetings were held with managers of the areas during the visits to learn about their key needs. The assessment visit to Port Honduras Marine Reserve in Belize will be carried out in the fi rst quarter of 2010.

PHOTO BY: Melanie McField.

PHOTO BY: Peter Rockstroh.

PHOTO BY: Peter Rockstroh.PHOTO BY: Rafael de la Parra.

ANNUAL REPORT 2009

Two events were organized to introduce the MAR region and the MAR Fund to a wider audience of potential collaborators. The fi rst event was carried out in Laguna Beach on May 20. The event was hosted by Mr. Herbert Bedolfe, Executive Director of the Marisla Foundation. Dr. Nichole Price, from the Scripps Institute, was the keynote speaker. Dr. Price delivered a wonderful and illustrative address about ocean acidifi cation and other threats to coral reefs.

The second event took place in Los Angeles on May 21. Our host for this event was Mr. Terry Tamminen, Chairman of the Climatic Strategies Center, with Mr. Greg McGillivray, from McGillivray Films, as the keynote speaker. In addition to showing the video clip about his fi lm on coral reefs, Mr. McGillivray also shared advances of his new fi lm about the North Pole.

As a result of the events, we have expanded our network of friends who understand the need for conservation and sustainable use of natural resources in the MAR region. We stay in touch with them with periodic updates.

Several advances were made in 2009 regarding the operation and structure of the MAR Fund.

The new 2009-2013 Strategic Plan was developed, with full participation of the Board of Directors. The Plan is currently being implemented and its structure has served as the basis for the 2010 Work Plan.

The MAR Fund proudly presents three new board members: Gina De Ferrari, a new Additional Member, Margarita Salazar, the new CCAD Representative, and Edén García, the Belize National Member. We shall miss Mr. Carlos Saavedra from The Summit Foundation, who retired from the Board of Directors. We thank him for his constant commitment and support since the inception of the MAR Fund.

The MAR Fund has established and added a new committee – the Development Committee – to its organizational structure. The primary role of the Committee is to develop and support fund-raising strategies and campaigns for operational and programmatic activities of the Fund.

MAR REGION PRESENTATION

EVENTS

STRUCTURAL NEWS

PHOTO BY: Claudio González.

ANNUAL REPORT 2009

None of our efforts would have been possible without the support from organizations and individuals who believe in us, support us, and collaborate with us for conservation and sustainable use of natural resources in the MAR region.

We would like to thank our founding members: Belize Protected Areas Conservation Trust (PACT), Fundación para la Conservación de los Recursos Naturales y Ambiente de Guatemala (FCG), Fundación Biosfera de Honduras (FB), and Fondo Mexicano para la Conservación de la Naturaleza (FMCN). The staff in the above mentioned organizations have been a key element to the successful implementation of the projects we support, through continuous follow-up and monitoring of the activities that are carried out.

Furthermore, we are grateful to the following organizations, which selfl essly supported our cause throughout the year:

• AVINA Foundation• Central American Comission on Environmental and

Development (CCAD)• Conservation International• German Development Bank (KfW)• Marisla Foundation• Oak Foundation• The Curtis and Edith Munson Foundation• The Henry Foundation• The Summit Foundation• World Wild Life Fund

In addition, we would like to thank all individual donors who have made contributions through various fund-raising mechanisms. Every donation counts – thank you for your valuable support.

OUR SINCERE GRATITUDE

ANNUAL REPORT 2009

FINANCIAL STATEMENTS

ASSETS 2009 2008 2009 2008LIABILITIES AND NET ASSETS

CURRENT: Cash

Advances

Current assets

FURNITURE AND COMPUTER EQUIPMENT

Total Assets

CURRENT: Payable accounts

Total liabilities

NET ASSETS Net income (expenses) for the year Accumulated net income Total Net Assets Total Liabilities and Net Assets

$ 569,472

$ 11,092

$ 580,564

$ 33

$ 580,597

$ 392

$ 392

$ 134,569$ 445,636

$ 580,205$ 580,597

$ 1,200.00

$ 1,200.00

$ 330,880$ 114,756

$ 445,636$ 446,836

$ 446,355

$ 461

$ 446,816

$ 20

$ 446,836

BALANCE SHEETSAs of December 31, 2009 and 2008

(Expressed in US$)

INCOME, EXPENSES AND NET ASSETS STATEMENTSFor the year ended December 31, 2009 and 2008

(Expressed in US$)

ANNUAL REPORT 2009

2009 2008

DONATIONS

BANK INTEREST

Total income received

EXPENSES Net income (expenses) for the year Accumulated net income

Net Assets

$ 712,447.00

$ 74.00

$ 712,521.00

$ (577,952.00)

$ 134,569.00

$ 445,636.00

$ 580,205.00

$ 675,965.00

$ 50.00

$ 676,015.00

$ (345,828.00)

$ 330,187.00

$ 115,449.00

$ 445,636.00