Nascent Solutions Inc
- Assets
- $4.5m
- Revenue
- $10.6m
- Investments
- $0.0
- Employees
- 20
- Location
- Alexandria, VA
- Founding
- 03/2005
- Data as of
- 12/2021
- EIN
- 41-2155341
Organization Overview
Nascent Solutions Inc is located in Alexandria, VA. The organization was established in 2005. According to its NTEE Classification (Q33) the organization is classified as: International Relief, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2021, Nascent Solutions Inc employed 20 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nascent Solutions 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 12/2021, Nascent Solutions Inc generated $10.6m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 27.8% each year . All expenses for the organization totaled $11.1m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE SELF-RELIANCE BY HARNESSING THE CREATIVE AND ENTREPRENEURIAL DRIVE OF AFRICANS TO SOLVE PROBLEMS, BUILD RESILIENT LOCAL ECONOMIES, AND IMPROVE THE QUALITY OF LIFE FOR THEIR FAMILIES AND COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NASCENT IS IMPLEMENTING ITS FIVE-YEAR (2018-2023) MCGOVERN-DOLE INTERNATIONAL FOOD FOR EDUCATION AND CHILD NUTRITION PROGRAM IN CAMEROON. THE OBJECTIVE OF THE PROGRAM IS TO IMPROVE THE LITERACY OF SCHOOL-AGE CHILDREN AND PROMOTE THE USE OF GOOD HEALTH AND NUTRITION PRACTICES. THE DIRECT PROGRAM COST IN THE YEAR 2021 IS $3,580,848 AND THE ALLOCATED INDIRECT COST IS $930,161. BOTH THE GRANT AND THE DIRECT COST INCLUDE A COMMODITY GRANT OF $1,517,595 AGREEMENT # FFE-631-2018/011-00
NASCENT ALSO STARTED TO IMPLEMENT ITS FIVE-YEAR (2019-2024) MCGOVERN-DOLE INTERNATIONAL FOOD FOR EDUCATION AND CHILD NUTRITION PROGRAM IN MALAWI. THE OBJECTIVE OF THE PROGRAM IS TO IMPROVE THE LITERACY OF SCHOOL-AGE CHILDREN AND PROMOTE THE USE OF GOOD HEALTH AND NUTRITION PRACTICES. THE DIRECT PROGRAM COST IN THE YEAR 2021 IS $2,643,416 AND THE ALLOCATED INDIRECT COST IS $686,670. BOTH THE GRANT AND THE DIRECT COST INCLUDE A COMMODITY GRANT OF $1,283,699. AGREEMENT # FFE-612-2019/008-00
COMBINED SMALLER PROJECTS:IN 2021, COMBINED SMALLER PROJECTS ACCOUNTED FOR DIRECT PROGRAM COST IN THE AMOUNT OF $184,112, INDIRECT COST OF $55,499, AND FUND RAISING COST OF $127. BOTH THE GRANT AND THE DIRECT COST INCLUDE A COMMODITY GRANT OF $187,123. COMBINED SMALLER PROJECT ARE DETAILED ON SCHEDULE O.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beatrice Wamey President And CEO | Officer | 40 | $264,165 |
Patrick Gallagher Senior Director Monitoring An | Trustee | 40 | $138,349 |
Frehiwot Tarekegn Director Of Finance And Accou | OfficerTrustee | 40 | $111,329 |
Chenelle Jackson Tiana Director Of Operations | OfficerTrustee | 40 | $91,480 |
Boubacar Cisse Director Of Finance And Accou | 40 | $86,667 | |
Michael Mccusker Director Of Programs | 40 | $77,424 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,192,782 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,450,786 |
| Noncash contributions included in lines 1a–1f | $3,445,966 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,643,568 |
| 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 | $10,643,568 |
| 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 | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $264,165 |
| Compensation of current officers, directors, key employees. | $196,131 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,762,452 |
| Pension plan accruals and contributions | $42,598 |
| Other employee benefits | $340,817 |
| Payroll taxes | $97,301 |
| Fees for services: Management | $218,876 |
| Fees for services: Legal | $15,352 |
| Fees for services: Accounting | $15,541 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,500,028 |
| Advertising and promotion | $9,711 |
| Office expenses | $0 |
| Information technology | $23,558 |
| Royalties | $0 |
| Occupancy | $287,240 |
| Travel | $1,127,990 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,790 |
| Insurance | $25,787 |
| All other expenses | $0 |
| Total functional expenses | $11,069,250 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $219,333 |
| Savings and temporary cash investments | $500,396 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $408,798 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,359,013 |
| Prepaid expenses and deferred charges | $18,337 |
| Net Land, buildings, and equipment | $19,493 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $7,649 |
| Total assets | $4,533,019 |
| Accounts payable and accrued expenses | $311,045 |
| Grants payable | $0 |
| Deferred revenue | $17,678 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $328,723 |
| Net assets without donor restrictions | $2,682,803 |
| Net assets with donor restrictions | $1,521,493 |
| 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 | $4,533,019 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Nascent Solutions Inc has recieved totaling $16.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $16 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Rise Against Hunger Raleigh, NC | $11,336,568 | $47,200,303 |
Halo Trust Usa Inc Washington, DC | $9,736,478 | $47,613,594 |
Results For Development Institute Inc Washington, DC | $16,759,449 | $40,353,687 |
Lutheran World Relief Inc Baltimore, MD | $72,287,667 | $69,634,457 |
Mana Nutritive Aid Products Inc Matthews, NC | $67,621,644 | $74,041,127 |
Christian Relief Services Charities Inc Alexandria, VA | $4,032,952 | $38,457,221 |
International Orthodox Christian Charities Inc Baltimore, MD | $21,145,773 | $37,778,660 |
United Palestinian Appeal Inc Washington, DC | $6,253,375 | $30,902,975 |
Christian Relief Services Charities Inc Alexandria, VA | $1,058,086 | $23,184,836 |
Evidence Action Inc Washington, DC | $85,532,359 | $22,021,780 |
Blumont International Inc Arlington, VA | $12,865,572 | $19,569,982 |
Dr Pradip And Kumkum Ghosh Foundation Inc Ellicott City, MD | $53,748,610 | $18,352,785 |