IESC Remains Strong and Focused and Continues to Deliver Robust Results
September 4, 2025
The following serves as an advance notice regarding the forthcoming release of our 2024 annual report (accessible soon at Annual Reports – IESC), as well as an update on IESC given the profound changes of this year. Regarding 2024, it was a milestone year for IESC. Not only did we make significant progress alongside those we serve, but we also commemorated 60 years of impact since our founding in 1964.
IESC was established by American business leaders who believed that supporting private sector growth and innovation could drive economic development and improve lives and communities – both in the U.S. and around the world. They were also committed to fostering self-reliance. Since then, we have helped transform dozens of countries from receiving foreign assistance to achieving economic self-sufficiency. Many of these countries, such as Singapore, South Korea, Portugal, and the Czech Republic, are now high-income countries and key U.S. business partners. Today, we remain as committed as ever to these founding principles.
In 2024, we continued to fulfill the strategic objectives of our funders, which included the U.S. Government, the European Union, and many generous individuals. Over the years, we have successfully implemented programs on behalf of a wide range of multilateral, bilateral, corporate, and foundation funders whose goals align with ours. Meeting funder expectations is a key measure of success for IESC, and one we consistently exceed. In 2024, we surpassed our funder satisfaction targets while delivering measurable results across our programs – supporting 13,321 individuals to secure new or better jobs and helping businesses increase sales by $281 million. We also strengthened IESC’s financial position, ensuring we are well equipped to continue achieving our mission. In short, we completed our 60th year with IESC as capable, impactful, and dynamic as ever.
Much has changed in the world since our founding in 1964, and IESC has continually adapted to stay effective. As we release last year’s annual report in 2025, we recognize the unprecedented shift in the foreign assistance landscape. The first half of 2025 brought profound changes, including the dissolution of USAID and the cancellation of thousands of U.S. Government-funded programs. For IESC, this meant the early closure of programs through which we had been enhancing food security, boosting farmer incomes, establishing trade partnerships with U.S. businesses, increasing youth employment, and strengthening businesses throughout the economically developing world. While this has been a challenging time, particularly for our valued staff and program participants, IESC remains strong and focused. We continue to deliver robust results on our active programs and are actively pursuing many new programs through which we can make a positive difference.
Our commitment to IESC’s mission is unwavering. We look forward to working with you in the years ahead to expand our impact and continue improving economies, communities, and lives in the U.S. and around the world.
Sincerely,
David Hartingh, President and CEO
Wing Keith, Board Chair
