Nascent Solutions Inc
- Assets
- $1.0m
- Revenue
- $11.2m
- Investments
- $0.0
- Employees
- 10
- Location
- Alexandria, VA
- Founding
- 03/2005
- Data as of
- 12/2023
- 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 12/2023, Nascent Solutions Inc employed 10 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 12/2023, Nascent Solutions Inc generated $11.2m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 18.1% each year . All expenses for the organization totaled $16.6m during the year ending 12/2023. While expenses have increased by 24.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE SELF-RELIANCE BY HARNESSING THE CREATIVE AND ENTREPRENEURIAL DRIVE OF RURAL WOMEN AND YOUTHS TO PROBLEM SOLVE, 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 IMPLEMENTED MCGOVERN-DOLE INTERNATIONAL FOOD FOR EDUCATION AND CHILD NUTRITION (MCGOVERN-DOLE) PROGRAM IN CAMEROON (USDA FFE-631-2018/011-0012) FUNDED UNDER THE UNITED STATES DEPARTMENT OF AGRICULTURE (USDA). THE AIM OF THE PROJECTS IS TO IMPROVE THE LITERACY OF SCHOOL-AGE CHILDREN AND INCREASE THEIR USE OF POSITIVE HEALTH AND DIETARY PRACTICES. THE PROJECT BENEFITED 488,094 DIRECT AND 421,935 INDIRECT BENEFICIARIES AND 119,789 STUDENTS FROM 240 PRIMARY SCHOOLS ACROSS FOUR REGIONS IN CAMEROON - ADAMAWA, EAST, NORTH, AND NORTH-WEST. THE 2023 PROGRAM DIRECT COST WAS $4,092,655 AND INDIRECT COST WAS $787,017. BOTH GRANTS AND DIRECT COSTS INCLUDED A COMMODITY GRANT OF $6,310,715. FFE 631 2018/011-00
NASCENT IMPLEMENTED MCGOVERN-DOLE INTERNATIONAL FOOD FOR EDUCATION AND CHILD NUTRITION (MCGOVERN-DOLE) PROGRAM IN MALAWI (USDA FFE-621- 2019/008-00)FUNDED UNDER THE UNITED STATES DEPARTMENT OF AGRICULTURE (USDA). THE PROGRAM BENEFITED 498,000 DIRECT AND INDIRECT BENEFICIARIES AND 77,000 STUDENTS FROM 106 PUBLIC SCHOOLS IN SIX DISTRICTS: LILONGWE, KASUNGU, AND NTCHEU IN THE CENTRAL REGION AND THYOLO, MULANJE, AND CHIRADZULU IN THE SOUTHERN REGION. THE BENEFICIARIES INCLUDED STUDENTS AND THEIR FAMILIES, TEACHERS, SCHOOL ADMINISTRATORS, CIVIL SERVANTS, PARENT-TEACHER ASSOCIATION (PTA) MEMBERS, MEMBERS OF SCHOOL MANAGEMENT COMMITTEES (SMCS), MEMBERS OF COMMODITY MANAGEMENT COMMITTEES (CMCS), VOLUNTEER COOKS, PREGNANT AND LACTATING WOMEN AND CHILDREN AGED BETWEEN 5 TO 36 MONTHS. THE 2023 PROGRAM DIRECT COST WAS $2,784,431 BOTH GRANTS AND DIRECT COSTS INCLUDED A COMMODITY GRANT OF $2,094,472 AND INDIRECT EXPENSE OF $535,447. FFE-621- 2019/008-00
COMBINED SMALLER PROJECTS:IN 2023, NASCENT ALSO IMPLEMENTED THE USAID INTERNATIONAL FOOD RELIEF PARTNERSHIP PROJECTS IN CAMEROON (72-OBHA 22FA0003)AND OTHER SMALLER PROJECTS 72-OBHA 22FA00009. THE IFRP PROJECT WAS IMPLEMENTED IN SOUTH WEST REGION OF CAMEROON AND BENEFITED 8,217. THE 2023 PROGRAM DIRECT COST WAS $126,338 AND $11,306 RESPECTIVELY AS WELL AS INDIRECT COSTS OF $24,295 AND $2,174 RESPECTIVELY
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Beatrice Wamey President And CEO | Officer | 40 | $307,413 |
Chenelle Jackson Tiana Director Of Operaions | Trustee | 0 | $167,309 |
Patrick Gallagher Senior Director Monitoring An | Trustee | 40 | $159,702 |
Dr Avis Graham Board Member | Trustee | 0 | $0 |
Dr Raymond Terry Board Member | Trustee | 0 | $0 |
Dr Lenox Graham Board Chair | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $11,049,417 |
| All other contributions, gifts, grants, and similar amounts not included above | $104,864 |
| Noncash contributions included in lines 1a–1f | $2,386,069 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $11,154,281 |
| 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 | $11,154,281 |
| 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. | $307,413 |
| Compensation of current officers, directors, key employees. | $230,560 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,312,643 |
| Pension plan accruals and contributions | $964,677 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $267,404 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,619 |
| Advertising and promotion | $13,230 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $322,980 |
| Travel | $1,045,304 |
| 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 | $7,912 |
| Insurance | $33,020 |
| All other expenses | $11,361,623 |
| Total functional expenses | $16,640,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $578,764 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $232,943 |
| Accounts receivable, net | $199,347 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,197 |
| Net Land, buildings, and equipment | $9,288 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,150 |
| Total assets | $1,036,689 |
| Accounts payable and accrued expenses | $55,123 |
| 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 | $142,307 |
| Total liabilities | $215,108 |
| Net assets without donor restrictions | $821,581 |
| Net assets with donor restrictions | $0 |
| 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 | $1,036,689 |