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Nonprofiteer
← NEW ENERGY NEXUS ENVENTURE

Form 990 for tax year 2024

Filed by NEW ENERGY NEXUS ENVENTURE.

Totals

Total revenue
$106,494
Total expenses
$149,361
Contributions and grants received
$106,494
Grants paid
$135,000
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$165,277
Total liabilities, end of year
$168,928
Net assets or fund balances, end of year
-$3,651
Program services expenses (Part IX)
$135,235
Management and general expenses
$14,126
Fundraising expenses
$0
Program service expenses (Part III)
$135,235

Program services were 90.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $105,000

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $1,494

  • 1g · Noncash contributions included above

    $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $135,000 · program services $135,000

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0

  • 7 · Other salaries and wages

    total $0 · program services $0

  • 8 · Pension plan contributions

    total $0 · program services $0

  • 9 · Other employee benefits

    total $0 · program services $0

  • 10 · Payroll taxes

    total $0 · program services $0

  • 11a · Fees: management

    total $0 · program services $0

  • 11b · Fees: legal

    total $0 · program services $0

  • 11c · Fees: accounting

    total $5,310 · management and general $5,310

  • 11d · Fees: lobbying

    total $0 · management and general $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · management and general $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $1,140 · management and general $1,140

  • 14 · Information technology

    total $235 · program services $235

  • 24a · Other expenses: BANK FEES

    total $780 · management and general $780

  • 24b · Other expenses: EXCHANGE LOSS

    total $6,896 · management and general $6,896

  • 24e · All other expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $39,191 · end of year $165,252

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 10a · Land, buildings and equipment: cost or other basis

    $0

  • 10b · Land, buildings and equipment: accumulated depreciation

    $0

  • 10c · Land, buildings and equipment, net

    end of year $0

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 15 · Other assets

    beginning of year $25 · end of year $25

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $762

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $168,166

  • 28 · Net assets with donor restrictions

    beginning of year $39,216 · end of year -$3,651

Mission and programs · 2024

Mission

SUPPORT RURAL COOPERATIVES AND COMMUNITY-BASED ORGANIZATIONS IN UGANDA WORKING ON CLEAN ENERGY INITIATIVES

  • NEW ENERGY NEXUS ENVENTURE IS WORKING ON COMPLETING THE MERGER WITH ENVENTURE AND IS ALREADY CONTINUING THE ACTIVITIES OF ENVENTURE: SUPPORTING RURAL COOPERATIVES AND COMMUNITYBASED ORGANIZATIONS IN UGANDA WORKING ON CLEAN ENERGY INITIATIVES. THE ACTIVITIES INCLUDEPROVIDING SEED FUNDING AND ACCELERATOR PROGRAMS TO HELP ENTREPRENEURS IN THE CLEAN ENERGY SPACE SCALE THEIR BUSINESSES IN UGANDA.

    Expenses $135,235 · Grants $135,000

As filed on the 2024 return.

Listed in Part VII

  • Ian Rogoff

    Chair

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Jon Foster

    Secretary/Treasurer

    Total calculated
    $0
    Hours/week
    1 + 6 related

  • Chia-Lin Simmons

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Michel Gelobter

    Board Member

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Christina Borsum

    CFO

    Total calculated
    $221,375
    From this org
    $0
    From related orgs
    $207,783
    Other
    $13,592
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $207,783 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $6,300 related
    Nontaxable benefits
    $0 + $7,292 related
    Filer's total
    $0 + $221,375 related

  • Danny Kennedy

    Executive Director END: 7/2024

    Total calculated
    $157,803
    From this org
    $0
    From related orgs
    $129,471
    Other
    $28,332
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $129,471 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $3,884 related
    Nontaxable benefits
    $0 + $24,448 related
    Filer's total
    $0 + $157,803 related

  • Henri Van Eeghen

    CEO START: 8/2024

    Total calculated
    $120,014
    From this org
    $0
    From related orgs
    $112,485
    Other
    $7,529
    Hours/week
    1 + 39 related

  • Grace Nitafan

    Controller

    Total calculated
    $191,803
    From this org
    $0
    From related orgs
    $176,109
    Other
    $15,694
    Hours/week
    1 + 39 related

    Schedule J breakdown matched by us

    Base
    $0 + $176,109 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $5,383 related
    Nontaxable benefits
    $0 + $10,311 related
    Filer's total
    $0 + $191,803 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
18 November 2025
IRS schema version
2024v5.1
Source object
202523219349326277

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