Us Nigeria Council For Food Securit Y Trade And Investment Inc
- Assets
- $80.9k
- Revenue
- $142.6k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 01/2016
- Data as of
- 12/2023
- EIN
- 81-0993968
Organization Overview
Us Nigeria Council For Food Securit Y Trade And Investment Inc is located in Washington, DC. The organization was established in 2016. According to its NTEE Classification (B05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Us Nigeria Council For Food Securit Y Trade And Investment 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, Us Nigeria Council For Food Securit Y Trade And Investment Inc generated $142.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.5%) each year. All expenses for the organization totaled $179.7k during the year ending 12/2023. 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 BROADEN AND EXPAND INTERACTION AND UNDERSTANDING BETWEEN THE UNITED STATES AND NIGERIA THROUGH RESEARCH IN THE AREAS OF FOOD SECURITY, TRADE, INVESTMENTS, TOURISM, HISTORY, EDUCATION AND CULTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AN IN-PERSON DINNER WAS HELD IN WASHINGTON DC ON APRIL 13 ON THE MARGINS OF THE WORLD BANK/IMF SPRING MEETINGS. THE USNC WELCOMED THE EXECUTIVE GOVERNOR OF NIGERIAS LAGOS STATE AS A KEYNOTE SPEAKER. HE SPOKE ABOUT HIS ECONOMIC PRIORITIES AS HE ENTERS HIS SECOND TERM AS GOVERNOR, PARTICULARY HIGHLIGHTING HIS INITIATIVES IN THE HIGH TECH SECTOR.
A WEBINAR ROUNDTABLE WITH THE NIGERIAS INCOMING MINISTER OF FINANCE AND WITH THE US CHARGE DAFFAIRESCDA IN ABUJA WAS HELD ON JULY 6. THE MINISTER-DESIGNATE OUTLINED THE GOVERNMENTS EFFORT TO REFORM THE SLUMPING ECONOMY BY MAKING PRO-MARKET CHANGES, WHILE THE CDA SPOKE ABOUT THE OPTIMISM US INVESTORS FELT ABOUT THE NEW ADMINISTRATION IN ABUJA.
AN IN-PERSON BREAKFAST EVENT WAS HELD IN NEW YORK CITY ON SEPTEMBER 20 ON THE MARGINS OF THE U.N.GENERAL ASSEMBLE. THE USNC WELCOMED NIGERIAS MINISTER FOR TRADE, INDUSTRY AND INVESTMENT AND NIGERIAS MINISTER OF THE DIGITAL ECONMY, BOTH OF WHOM SPOKE ON THEIR EFFORTS TO CATALYZE ECONOMIC GROWTH BY SUPPORTING SECTORS IN WHICH NIGERIA HAS COMPARATIVE ADVANTAGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Terence Mcculley Chair,board Of Directors | Trustee | 2 | $0 |
Peter Bazos Member,board Of Directors | Trustee | 2 | $0 |
Franklin Olakunle Amoo Member,board Of Directors | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $142,563 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $142,563 |
| 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 | $142,563 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $368 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $31,340 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $62,342 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $179,732 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $80,882 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $80,882 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| 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 | $80,882 |
| Total liabilities and net assets/fund balances | $80,882 |