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← NASIB FOUNDATION

Form 990 for tax year 2023

Filed by NASIB FOUNDATION.

Totals

Total revenue
$480,442
Total expenses
$883,449
Contributions and grants received
$0
Grants paid
$786,133
Program service revenue
$0
Investment income
$480,442
Other revenue
$0
Total assets, end of year
$18,739,283
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$18,739,283
Program services expenses (Part IX)
$786,133
Management and general expenses
$97,316
Fundraising expenses
$0
Program service expenses (Part III)
$786,133

Program services were 89.0% 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.

  • 3 · Investment income

    total $489,192 · excluded $489,192

  • 7a · Gross sales of assets other than inventory

    securities $2,923,542

  • 7b · Less cost or other basis and sales expenses

    securities $2,932,292

  • 7c · Gain or loss

    securities -$8,750

  • 7d · Net gain or loss

    total -$8,750 · excluded -$8,750

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $786,133 · program services $786,133

  • 11f · Fees: investment management

    total $94,099 · management and general $94,099

  • 13 · Office expenses

    total $15 · management and general $15

  • 20 · Interest

    total $63 · management and general $63

  • 24a · Other expenses: FOREIGN TAXES

    total $2,339 · management and general $2,339

  • 24b · Other expenses: OTHER TAXES

    total $800 · management and general $800

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,655 · end of year $11,289

  • 12 · Investments: other securities

    beginning of year $17,031,425 · end of year $18,727,994

  • 27 · Net assets without donor restrictions

    beginning of year $17,034,080 · end of year $18,739,283

Mission and programs · 2023

Mission

OUR MISSION IS TO PARTNER WITH OUR COMMUNITY TO SUPPORT AND ENHANCE THE LIVES OF UNDERPRIVILEGED CHILDREN,TO PROVIDE THEM WITH EDUCATIONAL RESOURCES, AND TO CARRY ON OTHER CHARITABLE ACTIVITIES ASSOCIATED WITH THIS PURPOSE AS ALLOWED BY LAW.

Activities or mission (Part I)

SUPPORT AND ENHANCE THE LIVES OF UNDERPRIVILEGED CHILDREN AROUND THE WORLD

  • NASIB FOUNDATION REMAINS COMMITTED TO ITS MISSION OF EMPOWERING AND TRANSFORMING COMMUNITIES WORLDWIDE THROUGH EDUCATION. IN 2022, A SIGNIFICANT PORTION OF OUR PROGRAM-RELATED EXPENSES WENT TOWARD SUPPORTING INITIATIVES THAT UNDERSCORE OUR UNWAVERING DEDICATION TO ENHANCING ACCESS TO HIGH-QUALITY EDUCATION, PROMOTING LIFELONG LEARNING, AND FACILITATING OPPORTUNITIES FOR INDIVIDUALS AND COMMUNITIES TO REALIZE THEIR FULL POTENTIAL. THROUGH STRATEGIC PARTNERSHIPS AND PURPOSEFUL INVESTMENTS, WE ASPIRE TO FOSTER A BRIGHTER FUTURE IN WHICH EDUCATION PLAYS A PIVOTAL ROLE IN DRIVING POSITIVE CHANGE AND EQUIPPING INDIVIDUALS WITH THE KNOWLEDGE AND SKILLS NEEDED TO BUILD THRIVING, INCLUSIVE, AND SUSTAINABLE SOCIETIES.

    Expenses $786,133 · Grants $786,133

As filed on the 2023 return.

Listed in Part VII

  • Samia Mohamed

    PRESIDENT

    Total calculated
    $0
    Hours/week
    3

  • Pamella Townsend

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mukhtar Ahmed

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Barwako Nalayeh

    SECRETARY AND TREASURER

    Total calculated
    $0
    Hours/week
    0

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.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202443209349314119

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