Nafasi Fund

Nonprofit profile at a glance

EIN
815363891
IRS 990 coverage
2020–2024
Forms available
Form 990 2024, Form 990-N 2019
Location
Huntsville, AL, USA
Phone
2562416750
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Youth Development Programs

Official website

Reported finances

Revenue
$2,540,782
Expenses
$9,707,042
Assets
$3,789,283
Liabilities
$9,413

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Highest reported compensation

  • ERNEST COMER III (MANAGING DIRECTOR): $18,220 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Undergird the powerful work of black-led organizations by connecting them to the opportunities capacity and space they need to increase their effectiveness and grow independent; when their vision is realized black-led organizations will be strong and sustainable with all ofthe tools they need to determine and direct social change.

What it reported doing in 2024

Nafasi fund provides the funds to qualified black-led organizations to help them seize on opportunities and grow their business.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 95% of its reported program spending out as grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 81
  • Accountability: 79
  • Sustainability: 24
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 96%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 86.7%; rating input score 87; 2nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 78.3%; rating input score 78; 21st percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -282%; rating input score 0; 0th percentile among comparable filings
  • Total-asset coverage ratio: 0.39; rating input score 13; 13th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 0.2%; rating input score 82; 82nd percentile among comparable filings

Growth

  • Program expense growth: 67.3% per year; rating input score 100; 98th percentile among comparable filings
  • Revenue growth: 8.5% per year; rating input score 100; 62nd percentile among comparable filings
  • Asset growth: 23.6% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 96% of spending went to programs
  • Governance: 2 of 2 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $9.3M in reported program spending
  • Leadership: top reported pay $18K · 3 people listed
  • Highest-paid contractors: 4 contractors listed · $7.6M reported
  • Consistency: 43 of 45 current checks pass · 2 findings to review
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 5 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • Related organizations: 3 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Operating margin scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 13/100.
  • Moderate — Transparency & Controls: Schedule A contributions reconciliation did not reconcile in the filed values.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.