Civic Intelligence

Nascent Solutions Inc.

990 • Fiscal year 2022 • EIN 41-2155341

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 13, 2023

Refreshing map…

85 Bragg Street STE 500Alexandria, VA 22312

(703) 333-5822

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

36th percentile

0.08x

Higher debt load relative to assets than 36% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

16th percentile

0.04x

Higher debt load relative to revenue than 16% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

64th percentile

14%

Higher net margin than 64% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

73rd percentile

$265,607

Higher top officer pay than 73% of similar nonprofits.

Top officer pay equals 1.8% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

91st percentile

51%

Faster asset growth than 91% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

81st percentile

36%

Faster revenue growth than 81% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Up

$6,860,525

Up $2,327,506 (+51%) from 2021

Net Assets

Up

$6,308,125

Up $2,103,829 (+50%) from 2021

Liabilities

Up

$552,400

Up $223,677 (+68%) from 2021

Revenue

Up

$14,513,852

Up $3,870,284 (+36%) from 2021

Expenses

Up

$12,410,023

Up $1,340,773 (+12%) from 2021

Net Income

Up

$2,103,829

Up $2,529,511 (+594%) from 2021

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MAssets 2010: $128,678Liabilities 2010: $9,325Net Assets 2010: $119,3532010Assets 2011: $123,756Liabilities 2011: $61,596Net Assets 2011: $62,1602011Assets 2012: $12,049Liabilities 2012: $25,620Net Assets 2012: -$13,5712012Assets 2013: $33,916Liabilities 2013: $95,033Net Assets 2013: -$61,1172013Assets 2014: $23,412Liabilities 2014: $205,301Net Assets 2014: -$181,8892014Assets 2015: $666,904Liabilities 2015: $101,870Net Assets 2015: $565,0342015Assets 2016: $734,871Liabilities 2016: $117,724Net Assets 2016: $617,1472016Assets 2017: $350,822Liabilities 2017: $117,628Net Assets 2017: $233,1942017Assets 2018: $1,729,225Liabilities 2018: $126,317Net Assets 2018: $1,602,9082018Assets 2019: $1,000,319Liabilities 2019: $153,680Net Assets 2019: $846,6392019Assets 2020: $4,923,167Liabilities 2020: $293,189Net Assets 2020: $4,629,9782020Assets 2021: $4,533,019Liabilities 2021: $328,723Net Assets 2021: $4,204,2962021Assets 2022: $6,860,525Liabilities 2022: $552,400Net Assets 2022: $6,308,1252022Assets 2023: $1,036,689Liabilities 2023: $215,108Net Assets 2023: $821,5812023Assets 2024: $322,700Liabilities 2024: $288,357Net Assets 2024: $34,3432024

Highlighted filing

2022

Assets$6,860,525
Liabilities$552,400
Net Assets$6,308,125

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$20M$10M$0-$10MRevenue 2010: $1,409,522Expenses 2010: $1,421,230Net Income 2010: -$11,7082010Revenue 2011: $1,055,944Expenses 2011: $1,113,137Net Income 2011: -$57,1932011Revenue 2012: $580,734Expenses 2012: $656,465Net Income 2012: -$75,7312012Revenue 2013: $22,403Expenses 2013: $69,949Net Income 2013: -$47,5462013Revenue 2014: $64,417Expenses 2014: $180,339Net Income 2014: -$115,9222014Revenue 2015: $1,910,861Expenses 2015: $1,163,937Net Income 2015: $746,9242015Revenue 2016: $2,954,740Expenses 2016: $2,902,626Net Income 2016: $52,1142016Revenue 2017: $2,176,785Expenses 2017: $2,552,115Net Income 2017: -$375,3302017Revenue 2018: $6,570,120Expenses 2018: $5,200,406Net Income 2018: $1,369,7142018Revenue 2019: $4,746,884Expenses 2019: $5,485,476Net Income 2019: -$738,5922019Revenue 2020: $10,346,876Expenses 2020: $6,563,537Net Income 2020: $3,783,3392020Revenue 2021: $10,643,568Expenses 2021: $11,069,250Net Income 2021: -$425,6822021Revenue 2022: $14,513,852Expenses 2022: $12,410,023Net Income 2022: $2,103,8292022Revenue 2023: $11,154,281Expenses 2023: $16,640,825Net Income 2023: -$5,486,5442023Revenue 2024: $5,066,529Expenses 2024: $5,853,767Net Income 2024: -$787,2382024

Highlighted filing

2022

Revenue$14,513,852
Expenses$12,410,023
Net Income$2,103,829
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 13, 2023
Return Version
2022v5.0
Gross Receipts
$14,513,852
Mission and Program Overview

Mission

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable-$4,117,297-
Inventories for Sale or Use$3,359,013--
Accounts Receivable$408,798$2,697,537▲ $2,288,739
Savings and Temporary Cash Investments$500,396--
Cash and Non-Interest-Bearing Accounts$219,333$16,248▼ $203,085
Land, Buildings, and Equipment, Net$19,493$13,266▼ $6,227
Prepaid Expenses and Deferred Charges$18,337$8,528▼ $9,809
Total Assets$4,533,019$6,860,525▲ $2,327,506
Other Assets Total$7,649$7,649→ $0
Liabilities
Accounts Payable and Accrued Expenses$311,045$391,226▲ $80,181
Other Liabilities-$143,496-
Deferred Revenue$17,678$17,678→ $0
Total Liabilities$328,723$552,400▲ $223,677
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$2,682,803$4,786,632▲ $2,103,829
Net Assets With Donor Restrictions$1,521,493$1,521,493→ $0
Total Net Assets Fund Balance$4,204,296$6,308,125▲ $2,103,829
Total Liabilities and Net Assets / Fund Balance$4,533,019$6,860,525▲ $2,327,506

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$13,266$60,200$73,466
Other Assets Org$1,499--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Beatrice WameyPresident and CEOFT$265,607$265,607
Patrick GallagherSenior Director Monitoring anFT$135,526$135,526
Frehiwot TarekegnDirector of Finance and AccouFT$123,334$123,334

Board Members and Trustees

NameTitle
Dr Lenox GrahamBoard Chair
Beatrice NamataBoard Member
Comfort AtangaBoard Member
Dr Avis GrahamBoard Member
Dr Raymond TerryBoard Member
Jude Samua NyambiBoard Member
Pamela NelsonBoard Member
Reverend Gerald RobinsonBoard Member
Haris MujadidiDirector of Finance and Compl
Chenelle Jackson TianaDirector of Operaions

Highest Paid Contractors

ContractorServicesLocationCompensation
Baord Of Trustees-univ Of IllinoisTraining506 S Right ST 209 HAB MC 339, Urbana, IL 61801$117,839
Revenue and Support

Revenue Composition

Contributions and Grants
$14,513,852
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$1,386,339
Change in Net Assets
$2,103,829

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,513,852
Total Revenue per Audited Statements
$14,513,852
Total Revenue per Form 990
$14,513,852
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,342,427
Salaries, Compensation, and Employee Benefits$3,067,596
Total Fundraising Expense$149
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses$7,211,699$277,748$149$7,489,596
Other Salaries and Wages$1,626,814$753,229-$2,380,043
Travel$1,310,928$13,242-$1,324,170
Pension Plan Contributions$261,607$160,339-$421,946
Occupancy$228,162$64,353-$292,515
Current Officers, Directors, Trustees, and Key Employees$66,402$199,205-$265,607
Fees for Services Management$85,353$100,197-$185,550
Advertising$18,527$1,611-$20,138
Insurance$12,583$7,385-$19,968
Depreciation Depletion-$6,227-$6,227
Fees for Services Other-$4,263-$4,263
Total Functional Expenses$10,822,075$1,587,799$149$12,410,023

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$12,410,023
Total Expenses per Audited Statements$12,410,023
Total Expenses per Form 990$12,410,023
International Activity

International Summary

Offices
3
Employees
122
Spending
$12,410,023

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Sub-Saharan AfricaProgram servicesNSI manages 2 McGDol3122$12,410,023
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Leave and Payroll$106,698
Payroll Liabilities$25,059
Other Accounts Payable$9,184
Credit Cards$2,555
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990 governing body review Part VI line 11

The CEO presents the Form 990 to the Board of Directors for their review and comments. TheCEO and the Finance Director then respond to questions (if any) through a regular channelor emails

Conflict of interest policy compliance Part VI line 12C

Employees and Members of the Board of Directors are required to report any conflict ofinterest to the CEO or the Chair Person of the Baord of Diretors

CEO executive director top management comp Part VI line 15A

The salary of the CEO is reviewed every yearand approved by the Board Chair Person basedon the annual performance review of the CEO

Other officer or key employee compensation Part VI line 15B

The salary of other Key Employees is reviewed every year and approved by the Board ChairPerson based on the annual performance review by the CEO and input from the CEO

Governing documents etc available to public Part VI line 19

The Governing Documents, conflict of interest,and Financial Statements are made availableupon request.

Filing and Contact Details

Filer

Filer Name
Nascent Solutions Inc
EIN
41-2155341
Address
85 Bragg Street STE 500, Alexandria, VA 22312

Signing Officer

Name
Beatrice Wamey
Title
CEO
Phone
7033335822
Signed
2023-11-13
Discuss with paid preparer
No

Organization Details

Principal Officer
Beatrice Wamey
Formed
2004
Legal Domicile
Va
Voting Board Members
9
Independent Board Members
8
Employees
13

Preparer

Firm
American Consulting Partners Corpor
Address
9420 Annapolis Road Ste 203, Lanham, MD 20706
Preparer
James Afueh
Phone
2403986382
Supplemental Narrative

Additional Explanations

List of other fees for services expenses Part IX line 11G

These are oustside contract services paid by the project office.

List of other expenses Part IX line 24E

These are oustside contract services paid by the project office.

Part III response or note to any other line in Part III

2022 Annual Report OverviewNascent Solutions Inc. (Nascent) implemented McGovern-Dole International Food for Education and Child Nutrition (McGovern-Dole) Program in Malawi (USDA FFE-612- 2019/008-00) and Cameroon (USDA FFE-631-2018/011-00) 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. Nascent also implemented the USAID International Food Relief Partnership projects in Liberia (IFRP#720BHA21FA00009).

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IRS990/Form990PartVIISectionAGrp/TitleTxt0President and CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt1Senior Director Monitoring an
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director of Finance and Accou
IRS990/Form990PartVIISectionAGrp/TitleTxt3Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt4Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt5Board Chair
IRS990/Form990PartVIISectionAGrp/TitleTxt6Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt7Board Member
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director of Finance and Compl
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director of Operaions
IRS990/Form990PartVIISectionAGrp/TitleTxt10Board Member
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IRS990/MissionDesc0To 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.
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IRS990/PrincipalOfficerNm0Beatrice Wamey
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IRS990/ProgSrvcAccomActy2Grp/Desc0Nascent implemented McGovern-Dole International Food for Education and Child Nutrition (McGovern-Dole) Program in Malawi (USDA FFE-612- 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 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), mother support group (MSG) members, members of commodity management committees (CMCs), volunteer cooks, pregnant and lactating women and children aged between 6 to 36 months. The 2022 program direct cost was $3,449,113 Both Grants and Direct Costs included a Commodity Grant of $907,080. FFE 612 2019/008-00
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt04356193
IRS990/ProgSrvcAccomActy2Grp/GrantAmt06478085
IRS990/ProgSrvcAccomActy3Grp/Desc0Combined Smaller Projects:In 2022, Nascent also implemented the USAID International Food Relief Partnership projects in Liberia (IFRP#720BHA21FA00009)and other smaller projects. The IFRP project was implemented in Bong County in Liberia and benefited 1200 PLW and 3600 children 6 24 months old.
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/RegionTxt0Sub-Saharan Africa
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0NSI manages 2 McGDol
IRS990ScheduleF/AccountActivitiesOutsideUSGrp/TypeOfActivitiesConductedTxt0Program services
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Beatrice Wamey
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0President and CEO
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The CEO presents the Form 990 to the Board of Directors for their review and comments. TheCEO and the Finance Director then respond to questions (if any) through a regular channelor emails
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Employees and Members of the Board of Directors are required to report any conflict ofinterest to the CEO or the Chair Person of the Baord of Diretors
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The salary of the CEO is reviewed every yearand approved by the Board Chair Person basedon the annual performance review of the CEO
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3The salary of other Key Employees is reviewed every year and approved by the Board ChairPerson based on the annual performance review by the CEO and input from the CEO
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The Governing Documents, conflict of interest,and Financial Statements are made availableupon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5These are oustside contract services paid by the project office.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6These are oustside contract services paid by the project office.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt72022 Annual Report OverviewNascent Solutions Inc. (Nascent) implemented McGovern-Dole International Food for Education and Child Nutrition (McGovern-Dole) Program in Malawi (USDA FFE-612- 2019/008-00) and Cameroon (USDA FFE-631-2018/011-00) 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. Nascent also implemented the USAID International Food Relief Partnership projects in Liberia (IFRP#720BHA21FA00009).
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5List of other fees for services expenses Part IX line 11g

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.32$0.29$0.03$5.07$5.85$0.79
2023Summary only. Only limited summary data is available for this year.$1.04$0.22$0.82$11.2$16.6$5.49
2022Detailed filing. Detailed filing data is available for this year.$6.86$0.55$6.31$14.5$12.4$2.10
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.53$0.33$4.20$10.6$11.1$0.43
2020Summary only. Only limited summary data is available for this year.$4.92$0.29$4.63$10.3$6.56$3.78
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.00$0.15$0.85$4.75$5.49$0.74
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.73$0.13$1.60$6.57$5.20$1.37
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.35$0.12$0.23$2.18$2.55$0.38
2016XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$0.73$0.12$0.62$2.95$2.90$0.05
2015Detailed filing. Detailed filing data is available for this year.$0.67$0.10$0.57$1.91$1.16$0.75
2014Detailed filing. Detailed filing data is available for this year.$0.02$0.21$0.18$0.06$0.18$0.12
2013Detailed filing. Detailed filing data is available for this year.$0.03$0.10$0.06$0.02$0.07$0.05
2012Summary only. Only limited summary data is available for this year.$0.01$0.03$0.01$0.58$0.66$0.08
2011Summary only. Only limited summary data is available for this year.$0.12$0.06$0.06$1.06$1.11$0.06
2010Summary only. Only limited summary data is available for this year.$0.13$0.01$0.12$1.41$1.42$0.01