Nest

What it reported doing in 2024

Makers united is building a more inclusive community of u.s. Maker-entrepreneurs and craftspeople by co-creating an ecosystem where bipoc and low- income makers feel recognized and represented and have access to the tools they need to grow their businesses and thrive. A subset of nest's global network of creative entrepreneurs, makers united elevates the voices of diverse makers in the united states to ensure that the growing american makers movement is generating opportunity for all makers regardless of gender, race, economic means or ability. Makers united is committed to building a better-connected ecosystem for makers. To do this, nest maps the local landscape of small business support and connects the dots between makers and the local, national, and peer resources they need. Additionally, through the program, creative entrepreneurs can gain access to exclusive opportunities like the madewell maker collective, etsy's uplift makers program, nest's flagship makers future fund, and more! Nest supports historically marginalized communities across the us and invests in the preservation of important craft traditions. These special programs include work with gee's bend quilters of Alabama, the gullah weavers of South Carolina, native and indigenous craftspeople, makers in appalachia, nyc's garment district, the craft community in puerto rico. Additionally, we have a regional program for arriving immigrants and refugees in 4 states.nest's ethical handcraft program is revolutionizing the industry by making homework a safe and viable option for workers worldwide. Leveraging international labor organization principles, nest developed the first-ever set of universally applicable standards and verification methodology for decentralized supply chains in the unregulated informal economy. Estimates suggest that around the world 300 million people, the majority of whom are women, are working from their homes or small workshops to support fashion and home decor production. This work ranges from skilled-based labor like hand-knotting rugs and sewing soles onto shoes, to stringing beaded jewelry, crafting decorative tassels, folding tissue paper, and packing poly bags. For these workers, handwork offers them an opportunity to earn an income while caring for their families and limits the need for long and sometimes dangerous travel into cities. Launched at the united nations alongside a committee of founding brands and retailers, the program has reached supply chains on 5 continents. Today, nest partners with brands like target, west elm, pottery barn, and patagonia to implement ethical handcraft programming within select supply chains. This provides them with greater insight into their production and enables them to make better-informed sourcing decisions and impactful corporate policies. 57% increase in the number of businesses that have policies on critical rights and wellbeing for home-based workers; 72% increase in the number of businesses that have a set minimum hiring age; a necessary benchmark to limit child labor; 78% increase in the number of businesses that have set environmental protection guidelines for their production. Nest's artisan business accelerators are application-based, intensive, and holistic programs that provide high-potential handcraft businesses and social enterprises from the nest guild with the support they need to become vital players in the international marketplace. Nest's flagship program, the artisan accelerator, continues to establish itself as the preeminent accelerator of artisan businesses equipping highly-motivated social entrepreneurs with a suite of targeted programming to drive their business growth and social impact in the handcraft sector. Handcraft enterprises that participate in any of nest's business accelerator programs gain access to key learning resources and develop new skills to complement and strengthen their business operations, develop and market their products, and support their workers

Financial Efficiency

• Mission deployment rate: 73.7%; rating input score 74
• Program expense ratio: 79.3%; rating input score 79
• Fundraising efficiency: $9.14 raised per $1 spent on fundraising; rating input score 35; 35th percentile among comparable filings

Transparency & Controls

• Consistency checks: 94.1%; rating input score 94; 23rd percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 1 of 8 controls in place; rating input score 12
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Fail
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Fail
  • Conducts site visits: Fail
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 0%; rating input score 0; 6th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 90.9%; rating input score 91; 21st 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: 8.9%; rating input score 60; 60th percentile among comparable filings
• Total-asset coverage ratio: 1.13; rating input score 41; 41st percentile among comparable filings
• Liabilities to assets ratio: 0.09; rating input score 61; 61st percentile among comparable filings
• Officer compensation ratio: 18.7%; rating input score 14; 14th percentile among comparable filings

Growth

• Program expense growth: 15.4% per year; rating input score 100; 78th percentile among comparable filings
• Revenue growth: 14.5% per year; rating input score 100; 81st percentile among comparable filings
• Asset growth: 15% per year; rating input score 100; 74th percentile among comparable filings