Grassroots International recorded a second straight year of growth in our programs and revenue. Support from individuals and institutions increased by more than a quarter million dollars over the previous year, a 22% rise. A large measure of this growth was driven by enthusiasm for the Global Justice Campaign, which encompasses new initiatives marking the start of our third decade of work.The surplus funds carried over into our next fiscal year will help build these initiatives.The increased revenue also allowed us to make more than $600,000 in cash grants to our partners and other organizations working for global justice, an increase of nearly 15% from the previous year. Meanwhile, we have continued to keep operating costs down and reduced our spending on support services. In fiscal 2003, we were able to devote 87% of our expenses to programs and education. Grassroots continues to operate without U.S. government funding—now, perhaps, more importantly than ever—and we will remain a bold voice for global justice. As always, your active support makes all of this possible.