Dear Friends,

In June, 2003, The Global ShareResource Foundation began our first campaign year, "Helping the Poor Respond to Opportunity." We obtained generous donations and pledges close to $23,000. These funds enabled us to help build a schoolhouse in Loogar, Afghanistan, provide scholarships to students and teachersÕ honoraria to a vocational school in Babahoyo, Ecuador, distribute school materials and supplies to Aeta Minority schoolchildren in Zambales, Philippines, and supply food and clothing to displaced children in Baranquilla, Colombia.

It is a small beginning in the face of the world's needs, but we have begun, and we are committed to continue with the campaign until we can provide tangible hope for a steady income for the working poor of our world. We believe that the best way to reduce the social conflicts in our global village is to provide hope for the disadvantaged poor caught in inescapable poverty.

With your partnership, we can make a difference.

Rev. Douglas Grandgeorge
President New York, March 31, 2004

The Global ShareResource Foundation Statement of Activities 2002-2003
Receipts
Board Donations	$1,000
Cash Donations – Unrestricted	$17,936
Donated Items	$2,197
Pledges	$1,800
Total Receipts	$22,933
Disbursements
Projects Funded	$10,900
Developmental Cost	$4,086
Organizational Costs	$2,058
Total Disbursements	$17,044
Net Receipts	$5,889
Statement of Financial Position 2002-2003
Assets
Cash in Bank	$4,089
Pledges	$1,800
Total Assets	$5,889
Liabilities and Fund Balance	$0
Total Liabilities and Fund Balance	$5,889

2002-2003 Directors and Associates

Stella Fernando-Reyes, David Michel,
Cheryl R. Lehman, Marie Luarca-Reyes,
Esmeralda O. Lyn, Philippe Lerch,
Mariechelle Marbella, Rene Goicochea,
V.Jane Orendain, Nick Luna.

2002-2003 Corporate Sponsors: