Nascent Solutions Inc

Nonprofit profile at a glance

EIN
412155341
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-EZ 2014
Location
Alexandria, VA, USA
Phone
7033335822
Rating
73
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
International Relief

Official website

Reported finances

Revenue
$5,066,529
Expenses
$5,853,767
Assets
$322,700
Liabilities
$288,357

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

Leadership & pay

17 people listed

Executive titles in this filing

  • Beatrice Wamey (President and CEO)

Highest reported compensation

  • Beatrice Wamey (President and CEO): $279,547 total reported compensation
  • Haris Mujadidi (Director of Finance and Compliance): $147,500 total reported compensation
  • Patrick Gallagher (Senior Director Monitoring and Eval): $142,516 total reported compensation

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

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.

What it reported doing in 2024

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 targeted nearly 500,000 beneficiaries - learners, their families, teachers, administrators, government officials, Parent-Teacher Associations (PTAs), and other secondary beneficiaries in the 106 schools host communities in 5 districts. The project provided 174,742 meals from home-grown sources. Nascent distributed 352,893 assorted school supplies to 48,872 Standard 1-4 learners (24,553 girls and 24,319 boys). Increased Teacher Attendance to 88.4% from 86% Improved Literacy Skills in the range of 5.1% to 22% Increased Knowledge and Practices on Sanitation and Hygiene where 90% acquired knowledge and 60% consistently washing their hands

Operating model

Revenue model
Grant-funded. 95% of the money available for current operations came from government grants.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 48
  • Accountability: 93
  • Sustainability: 9
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 91.1%; rating input score 91
  • Program expense ratio: 78.9%; rating input score 79
  • Fundraising efficiency: $155.42 raised per $1 spent on fundraising; rating input score 90; 90th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 87.5%; rating input score 88; 19th percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -15.5%; rating input score 9; 9th percentile among comparable filings
  • Total-asset coverage ratio: 0.06; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: 0.89; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 9.7%; rating input score 31; 31st percentile among comparable filings

Growth

  • Program expense growth: 18.9% per year; rating input score 100; 84th percentile among comparable filings
  • Revenue growth: 18.6% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 17.6% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 91.1% of revenue deployed · 78.9% of spending went to programs
  • Governance: 7 of 8 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $4.6M in reported program spending
  • Leadership: top reported pay $280K · 17 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 27 of 27 current checks pass
  • Schedules: 6 filed schedules · includes foreign activity and executive pay
  • Filing history: 11 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 4 filed money-flow records
  • 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.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • High — Sustainability: Operating margin scored 9/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.
  • Moderate — Sustainability: Officer compensation ratio scored 31/100.