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L RE

PORT

To the JIFFI family,

Eleven months ago on the Friday after our last class as juniors, I remember grabbing a meal with Andrew Weiler, Cristin Pacifico, and Alec Fogarty (who was calling in from Spain where he studied abroad) at a local restaurant. Our meeting had one task: to determine the vision of JIFFI for the coming year. After much deliberation and the realization that Peter really was going to be leaving us, we decided on three main goals: size up our impact, solidify our processes, and serve the community. Over the past year, these three pillars have complemented our mission statement and guided our organization. We raised over $7,500 through our recent crowdfunding campaign and distributed seventeen loans to clients. We analyzed our loan process and created a firm structure to be built on over the coming years. And we established partnerships with nonprofit leaders and tested new ways to reach out to the community. As with any start-up, our decisions were not always perfect, but we have learned much from our mistakes. First, our trial run of summer operations taught us that client communication is of the utmost importance and must be prioritized. Second, a re-evaluation of our loan process mid-year showed us that we need staff members available to always pick up a client call. Lastly, our increase in the number of divisions forced us to emphasize collaboration and unity throughout the entirety of JIFFI. While we can never guarantee flawless operations, be assured that JIFFI will never make the same mistake twice, especially given our new leadership team. I could not be happier to announce that Jack will be leading JIFFI this coming year. Jack has been a part of JIFFI since he first arrived on Notre Dame’s campus, even attending a JIFFI meeting before his first class. Always open to feedback and striving to take a holistic approach to innovation, Jack has extensive experience with financial empowerment curriculum and has attended several conferences on microfinance. It has been a pleasure working with him the past two years, in addition to Amanda, Helen, Victoria, and Sam, four individuals leading along with him who have each contributed an enormous amount of time and effort to our organization. I firmly believe that they will continue to advance JIFFI’s mission and make a positive impact on the South Bend community. Finally, I simply would like to extend my appreciation for each of you. Thank you to Alec, Cristin, and Andrew for your assistance in decision-making and goal-setting. JIFFI would have immediately fallen apart if I didn’t have you three by my side. Thank you to the amazing JIFFI team for your unwavering dedication to do what is right for the community. It is clear that your values are in the right place. Thank you to Vanessa Carter, Executive Director of Lend for America, for seeing and treating us as a real organization and not a student club. Your continual check-ups always forced us to take a step back and look at the big picture. Thank you to each of our Directors for your unique expertise and advising. Your diverse opinions and backgrounds have been a priceless benefit. To all donors, partners, advisors, and other stakeholders, thank you for the opportunity to take everything that I learned in the classroom and apply it to the community. Thank you for giving a group of several undergraduate students a chance to make a difference in the community. Thank you for allowing JIFFI to be what it is today. With sincere gratitude and high hopes for JIFFI’s future,

Jake, CEO 2014-2015

FROM OUR RETIRING CEOTABLE OF

CONTENTSLetters

Key Message Statement

Year In Review

Community Partners

Loan Profiles

A Special Thanks

Board of Directors

Staff Profiles

Financials

2 - 3

4

5 - 7

8

9

10

11

12 - 14

15 - 16

2

4

Who we are:The Jubilee Initiative for Financial Inclusion (JIFFI) is a nonprofit community financial services provider founded by University of Notre Dame and Saint Mary's students. We aim to replace predatory payday lending that perpetuates poverty in South Bend. We offer cash advances supplemented by helpful personal financial planning tools to help our clients get ahead instead of falling behind.

Our mission:To enable our clients to unlock their full potential through affordable credit solutions, financial empowerment programs, and supportive relationships.

Our vision:To shape a better financial environment for our community and uphold the financial dignity of every individual by providing access to fair credit and opportunities to build financial assets.

What we offer:Affordable Credit Solutions Weprovideemergencyloansthatalleviatefinancialhardshipforclientsfacingdifficult circumstances.BylengtheningloantermsandofferinganAPRof21%,wepresentan accommodatingalternativetoexploitativepaydayloans.

Achieving Financial Dignity OurgoalatJIFFIistohelpeachclientrealizehisorherownfinancialdignity.Weprovide accesstofaircreditopportunitiestobuildfinancialassetssothatourclientscanfocuson theirdreamsandaspirationsinsteadofworryingaboutmakingittothenextpaycheck. Throughourfinancialempowermentprograms,wehelpourclientsbuildthefinancial awarenesstheyneedtoturnthosedreamsintoreality.

Building Relationships That Last Westrivetoformsignificantrelationshipswitheachoneofourclients,growinginourshared senseofcommunityanddevelopingourunderstandingofhumansolidarityintheprocess. Eachclientbringsauniquestorythatenablesustotailorpotentialloanstofittheirspecific needswiththehopethatourassistancewillpropelthemtobrighterandmorestablefutures.

KEY MESSAGE STATEMENT

3

Dear Friends of JIFFI,

I would like to begin this letter by saying that I could not possibly be more excited for the upcoming Fiscal Year. It is unbelievable to look back at where JIFFI started as an organization and see how far we have come. As the CEO, I hope to continue that trend. I am looking forward to seeing us grow: not in the number of people within our organization, but the number that we are able to impact in the community. The nature of our organization as a student-run non-profit with zero paid staff makes us extremely unique, and I hope for us to keep this identity while furthering our mission. For next year specifically, we have a three-pronged plan to increase our impact within the South Bend community: Increase Our Volume of Clients, Test and Continuously Improve our Processes, and Further Establish our Brand. To assist us in these goals, I have created a new officer, the Chief Marketing Officer. The role of this officer is to be in charge of all external relations for JIFFI. This includes oversight of our Development, Community Relations, and Marketing Divisions. This position will be integral in allowing us to increase the volume of clients that are going through our client process at JIFFI as well as further establishing our brand. In addition to this new position within JIFFI, we hope to accomplish our three goals for Fiscal Year 2015 through an expansion of our community outreach. In order to Increase Our Volume of Clients, we will utilize the relationships that we have with our current community partners as well as building new relationships with organizations where people who could benefit from our products already go. This increase in client volume will allow us to test the processes that we currently have in place for our client process as well as our Financial Empowerment Program. We will see how well our processes work with a much higher volume of clients and see if we need to make any changes in order to improve our products. Finally, we hope to further establish our brand through the expansion of our partners in the community as well as offering our clients the highest quality of service possible. If we are able to accomplish these three things, I cannot wait to see where we will be at this time next year.

Sincerely,

Jack Markwalter

FROM OUR INCOMING CEO

6

LENDFORAMERICACONFERENCEIn November 2014, JIFFI sent a team of six members to the Lend for America Summit in Berkeley, California. There, our team attended informational sessions and workshops and presented about JIFFI’s mission to other members at the Summit. JIFFI is truly thankful to be a part of such an amazing organization that is vital to the success of so many micro finance institutions, including our own.

NOVEMBER:

IMPLEMENTEDSALSEFORCEThis January, JIFFI’s Operations division switched our client processes to Salesforce, one of the top cloud-based customer relationship management providers in the world. So far, Salesforce has helped to streamline our client process and collect important statistics on our client base. We look forward to exploring more ways to utlize Salesforce in our operations in the coming year!

JANUARY:

5

ATTAINA501(C)3STATUSBy receiving a 501(c)(3) status, JIFFI was able to raise more money and develop a better loan process. We can now accept tax-deductible donations and have become eligible for numerous grants and competitions. In terms of our loan process, the non-profit status allowed us to receive free software from both Google for Non-Profits and the Salesforce Foundation. Because of this, we are able to keep all of our data on servers separate from the University of Notre Dame, providing for more privacy and security.

JULY:

JIFFIPITCHCOMPETITIONAt the Irish Impact: Social Entrepreneurship at Notre Dame conference in September 2014, JIFFI won the “Coffeehouse favorite” $2000 award! JIFFI extends a huge thanks to the Zielsdorf family for making this possible. The Irish Impact Conference is an event dedicated to social entrepreneurship, a movement that continues to spark dialogue across the globe. The conference brings together students, faculty, and social entrepreneurs from around the world in a wide variety of industries. JIFFI was selected as a last-minute presenter in the Zielsdorf Pitch Competition, which features six presentations in front of a panel of judges with business (and start-up) experience.

AUGUST:

YEAR IN REVIEW

South Bend Heritage is a nonprofit organization that was established in July 1974 to help reverse the physical and social decline taking place in South Bend’s urban neighborhoods. It is committed to the stabilization and empowerment of the South Bend community, and its projects include rehabilitating homes for resale, house moves and operating a loan fund that helped over 35 owners restore their homes. Since its establishment, South Bend Heritage has cultivated and maintained $60 million in direct residential and commercial development, and 311 residential rental units in four main sites and several scattered sites.

St. Joseph County Bridges Out of Poverty The St. Joseph County Bridges Out of Poverty Initiative takes a breakthrough framework to break the cycle of poverty and create community sustainability. SJC Bridges and its partner organizations have graduated more than 300 people from a 15-week workshop called GETTING AHEAD in a Just Gettin’ By World. SJC Bridges also trains employers, schools, colleges, agencies, churches, schools and individuals, and provides avenues to get involved. The success of SJC to educate, collaborate and advocate is creating a group of citizens - working across sectors, political parties, and economic class committed to the long-term sustainability and well-being of our community.

South Bend Center for the HomelessThe South Bend Center for the Homeless has provided more than 700,000 safe nights and over 1.5 million meals to more than 50,000 men, women and children. Its main focus, however, is not just life-saving, but providing members with life-changing services by llinking them with the programs, agencies and people who can break the cycle of homelessness. Its innovative service model offers homeless families and individuals an on-site, structured, step-by-step process to achieve and maintain self-sufficiency. Its mission is threefold: (1) break the cycle of homelessness, (2) bring together disparate groups so that each can discover the worth, dignity and potential of the other, and (3) pioneer a service model worthy of replication.

COMMUNITY PARTNERSNEWJIFFI.ORGLAUNCHIn February, the Marketing team launched the latest and greatest version of our

webiste (www.jiffi.org). The site contains more timely JIFFI information and a sleeker design that we hope enhances the experience of our clients and supporters!

FEBRUARY:

INDIEGOGOFINISHJIFFI’s Development department launched our second ever crowdfunding

campaign through Indiegogo in January. After almost two months of fundraising, JIFFI raised $7,670 through the generosity of our donors, exceeding our goal by $170! The money raised will be used to help JIFFI get an Indiana lender’s license, which will allow JIFFI to make more than 25 loans per calendar year. The success of this campaign was a huge step forward to making this happen!

MARCH:

87

John MarkwalterConnie MickMari JonesRobert DavidJack LeaheyBrenda ChapaAlberto ElizondoJacob StantonLiz PiconeEdward MazelisDiane NataleKeun Woong ParkTia NewellAnne Marie KaesMaureen ConklinAnna Gallo-DohnerJoe and Sandra CorishTracy SmikleMichael and Stephanie BodeKristina FlathersJennifer WileyMaggie ThomannBeth SerrillLeo and Beth FernandezGripple Inc. Frank LiWill BottemaChris RuflinTyler JohnsonTeresa ElstonMiriam Provost

Vincent VangaeverJim HullJohn HullJoe and Mary GeraghtyJustin McCurdyScott NewmanMr. and Mrs. Brian HoganWilliam FallonPatty DonahueLiz PiconeCatherine FontanaAlisha AndersonAyun BrownAlex CatonRaymond Vander HeydenLydia BaekEric HuangHyung WooPeter ButtigiegStephen ReifenbergMathew FrazeeCJ Condon Viviane RouraCorey LugauerSamantha MasokasJennifer WaddellBrian MoranJason HoardPete PietraszewskiThomas KaramTim ShermanHanna Yang

Bryan RickettsEric PalutsisAdam PasquinellyMatt BayerElliott RunburgDiane NataleErin CallaghanDan CourtneyMarie ColeMr. and Mrs. BebarDavid HurleyJoseph CatalanoCatherine BoltenPeter WhiteJustin McCurdyIsaiah LeePeter WooSherrie SeitzJohn & Barb StanaKeira HeneghanJudy ScharfKristina DowneyAmber WernerNicholas PaidoshWalter CampbellSandy PillJohn and Mathilde SateriJuanita MarkwalterHenry GordonWilliam Hodges

A SPECIAL THANKS TO:YEAR IN REVIEW

Age: 23Purpose of loan: To help her finance furniture purchases Number of children: 1Approx monthly income: $938Loan amount: $100

Age: 45Purpose of loan: To help her finance buying a carNumber of children: 1Approx monthly income: $1,404Loan amount: $500

Age: 35Purpose of loan: To help with her rent payments Number of children: 3Approx monthly income: $2,396-$2,888Loan amount: $500

Age: 35Purpose of loan: To help her pay for fumigation of bed bugs and to pay for a new mufflerNumber of children: 3Approx monthly income: $2,156-$2,756Loan amount: $130

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THANK YOU

12

Marc Ackerman, 2015Senior Associate of

OperationsMajor: Economics and

Finance

Jake Bebar, 2015Chief Executive OfficerMajor: Management

Consulting

Aaron Bode, 2017VP of Human Asset

ManagementMajor: Economics and Ap-

plied Math

Emily Campbell, 2017VP of Community RelationsMajor: Business and English

Amanda Conklin, 2017VP of Credit

Major: International Economics

Samantha DiMaggio, 2016VP of Risk Management

Major: Finance

Aidan Dore 2017Senior Associate of Risk

ManagementMajor: Finance and Arabic

Kristina Flathers, 2015Senior Associate of

AccountingMajor: Accounting

Greg Florio, 2015Senior Associate of

AccoutningMajor: Finance

Jandra Aranguren, 2015Associate of Marketing

Major: Computer Science & Industrial Design

Ashley Calvani, 2017Associate of Marketing

Major: Marketing and Eco-nomics

Alex Caton, 2015VP of Legal

Major: Political Science

Gary Dai, 2017Associate of Risk

ManagementMajor: Finance and ACMS

Emily David, 2017Associate of DevelopmentMajor: Economics, Poverty

Studies, and Italian

Viviana Dewey, 2016Associate of Credit

Major: PLS and Economics

Vicotria Etherton, 2017Vp of DevelopmentMajor: Finance and Applied Computers

STAFF 2014-15

11

Melissa Paulsen, ChairmanAssistant Director at the

Gigot Center for Entrepreneurship in the

Mendoza College of Business

Jake BebarSenior

Studying Management Consulting at Notre Dame

Peter LombardoDirector for Community

Involvement at South Bend Center for the Homeless

Connie Mick, Ph. DDirector of Community Based Learning, Co-director of the

Poverty Studies Interdisciplinary Minor

William SchmuhlFinancial and Managerial

Accounting Professor at the University of Notre Dame

Andrew WeilerSenior

Studying Economics, Philos-ophy, and Political Science at

Notre Dame

Amber WernerAmeriCorps service member, Co-instructor at Bridges Out

of Poverty

Peter WooAlumni

Studied Finance and Philosophy at Notre Dame

Cristin Pacifico, SecretarySenior

Studying Finance and Peace Studies at Notre Dame

Jacob Stanton, TreasurerAlumni

Studied Finance and Economics at Notre Dame

BOARD OF DIRECTORS 2014-15 STAFF 2014-15

14

Devon Roura, 2017Associate of Development

Major: Finance and Economics

Thomas Seitz, 2017Associate of Develppment

Major: Finance and Economics

Changhwa Sul, 2017Associate of Risk

ManagementMajor: Finance

Margaret Thomann, 2018Associate of Human Asset

ManagementMajor: Computer Science

Jenny Ng. 2017Senior Associate of Financial

EmpowermentMajor: Finance and

Portuguese

Edwin Onattu, 2016Senior Associate of

OperationsMajor: Computer Science

Cristin Pacifico, 2015Chief Financial Officer

Major: Finance and Peace Studies

Helen Sheng, 2017VP of Marketing

Major: IT Management

Anvi Ton, 2017Senior Associate of Financial

EmpowermentMajor: Finance and

Sociology

Vince Vangaever, 2017Associate of Financial Em-

powermentMajor: Finance and Political

Science

Victoria Velasquez, 2017Associate of Community

RelationsMajor: Management Consulting

and Political Science

Grace Watkins, 2017Associate of LegalMajor: Economics

Andrew Weiler, 2015Chief Operating Officer

Major: Economics

STAFF 2014-15

13

Alec Fogarty, 2015Chief Inevestment Officer

Major: Finance, Economics, and Spanish

Agustin Garcia, 2016Internal ConsultantMajor: Finance and

Economics

Juan Gutierrez, 2016Senior Associate of

DevelopmentMajor: Finance and French

John Hayes, 2016Senior Associate of

MarketingMajor: Finance,

Economics, and Italian

Cristina Gutierrez, 2016Senior Associate of

MarketingMajor: Finance and

Psychology

Jack Markwalter, 2017VP of Financial Empowerment

Major: Finance and Political Science

Nikhil Garg, 2018Associate of Operations

Major: Finance and Computer Appications

Jake Grabowski, 2017Associate of Financial

EmpowermentMajor: Finance and Romance

Languages

John Haley, 2018Associate of Marketing

Major: Finance and Film, Television, and Theater

Patrick Hawley, 2017Associate of Accounting

Major: Finance

Mchael Hayes, 2016Associate of Accounting

Major: Accountancy

Megan Howell, 2017Senior Assoiciate of Human

Asset ManagementMajor: Economics and Math-

ematics

Chris Hull, 2018Associate of CreditMajor: Finance or

Accountancy

Eric Mazelis, 2015Associate of Lega

Major: Finance and Political Science

Madeline McCormick, 2017Associate of CreditMajor: Finance or

Accountancy

Phoebe Natale, 2018Associate of CreditMajor: Finance or

Accountancy

STAFF 2014-15

1615

JULY:

AUGUST:

Financials

Jubilee Initiative for Financial InclusionStatement of Activities

From July 2012 Through April 2015 2012 2013 2014

RevenuesUnrestricted Donations $1,731 $9,200 $8,293Interest on Loans 0 0 0Loan Fees 0 0 0 Total Revenues 1731 9200 8293

Expenses Administrative Expenses 40 2,146 7,524 Other 0 0 0 Total Admin Expense 40 2,146 7,524 Change in Net Assets 1,691 7,054 769Beginning Net Assets 0 8,830 10,879Net Assets, Ending $1,691 $15,885 $11,649

Jubilee Initiative for Financial InclusionStatement of Financial Position

From July 2012 Through April 2015 2012 2013 2014

ASSETS Cash $1,496 $8,759 $8,627 Loans Recievable 195 71 2253 (Loan Loss Reserve) 0 0 0 Net Loans Receivable 195 71 2253 Other Assets 0 0 0 Total Assets 1691 8830 10879 LIABILITIES Short-Term Debt 0 0 0 Long-term Debt 0 0 0 Total Liabilities 0 0 0

Total Liabilities & Net Assets $1,691 $8,830 $10,879