Sostenica Inc
- Assets
- $1.2m
- Revenue
- $494.7k
- Investments
- $0.0
- Employees
- 1
- Location
- West Chester, PA
- Founding
- 11/2001
- Data as of
- 12/2020
- EIN
- 23-3061896
Organization Overview
Sostenica Inc is located in West Chester, PA. The organization was established in 2001. According to its NTEE Classification (Q32) the organization is classified as: International Economic Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sostenica Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2020, Sostenica Inc generated $494.7k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 13.6% each year . All expenses for the organization totaled $673.8k during the year ending 12/2020. While expenses have increased by 23.3% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
SOSTENICA EMPOWERS THE PEOPLE OF NICARAGUA TO ACHIEVE FINANCIAL SECURITY AND HEALTHY LIVES WITHIN VIBRANT, SUSTAINABLE COMMUNITIES THROUGH MICROCREDIT, TECHNICAL ASSISTANCE, AND OUTREACH TO LOW INCOME SMALLHOLDER FARMERS AND SCHOOL CHILDREN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RESEARCH STRATEGIES FOR SUSTAINABLE AGRICULTURE IN RURAL NICARAGUA AND TRAIN LOCAL FARMERS IN STRATEGIES DEVELOPED. RESEARCH INTO OCCUPATIONAL RISK FACTORS OF CHRONIC KIDNEY DISEASE (CKD) AMONG A COHORT OF CENTRAL AMERICAN WORKERS AFFECTING CLIENTS OF SOSTENICA.
ADMINISTER AND PROMOTE MICRO-LENDING PROGRAM TO SUPPORT SUSTAINABLE ECONOMIC DEVELOPMENT IN RURAL NICARAGUA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Denicola Executive Director | OfficerTrustee | 50 | $60,000 |
Tim Keyes Treasurer | Officer | 3 | $0 |
Alan Wright President | Officer | 5 | $0 |
Peter Guarino Vice President | Officer | 1 | $0 |
Rachel Lindsay Secretary | Officer | 3 | $0 |
V Scott Bihl Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $433,333 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $433,333 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $494,726 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $344,405 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $60,000 |
| Compensation of current officers, directors, key employees. | $13,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,270 |
| Payroll taxes | $4,590 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $6,500 |
| Fees for services: Accounting | $13,087 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,699 |
| Advertising and promotion | $376 |
| Office expenses | $5,019 |
| Information technology | $1,782 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,515 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $39,156 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,868 |
| Insurance | $4,508 |
| All other expenses | $186,053 |
| Total functional expenses | $673,828 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $117,920 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $6,596 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $3,913 |
| Net Land, buildings, and equipment | $3,870 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,027,832 |
| Total assets | $1,160,131 |
| Accounts payable and accrued expenses | $933 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $419,071 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $1,178,694 |
| Other liabilities | $0 |
| Total liabilities | $1,598,698 |
| Net assets without donor restrictions | -$471,317 |
| Net assets with donor restrictions | $32,750 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,160,131 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sostenica Inc has recieved totaling $20.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $20 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
C I S Development Foundation Inc East Brunswick, NJ | $9,322,702 | $62,866,043 |
Polish-American Freedom Foundation New York, NY | $332,912,578 | $20,651,430 |
Dress For Success Worldwide New York, NY | $9,765,263 | $14,118,582 |
Endeavor Global Inc New York, NY | $17,758,887 | $22,239,624 |
Mennonite Economic Development Associates Lancaster, PA | $26,265,593 | $14,802,817 |
Financial Services Volunteer Corps Inc New York, NY | $4,338,276 | $8,058,219 |
Romanian American Foundation New York, NY | $151,764,693 | $36,392,050 |
Serrv International Inc Westminster, MD | $5,915,930 | $5,889,769 |
Nest Inc New York, NY | $5,296,909 | $4,810,117 |
Cerge-Ei Foundation New York, NY | $13,211,124 | $3,287,220 |
Junior Achievement Of New York New York, NY | $4,177,610 | $3,603,746 |
Junior Achievement Usa Bridgeville, PA | $5,474,447 | $2,637,956 |