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Nonprofiteer
← NEW INCENTIVES

Form 990 for tax year 2024

Filed by NEW INCENTIVES.

Totals

Total revenue
$10,295,787
Total expenses
$25,825,420
Contributions and grants received
$8,193,040
Grants paid
$18,000,000
Program service revenue
$0
Investment income
$2,102,747
Other revenue
$0
Total assets, end of year
$89,657,978
Total liabilities, end of year
$825,228
Net assets or fund balances, end of year
$88,832,750
Program services expenses (Part IX)
$24,338,108
Management and general expenses
$1,356,095
Fundraising expenses
$131,217
Program service expenses (Part III)
$24,338,108

Program services were 94.2% 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.

  • 1f · All other contributions, gifts and grants

    $8,193,040

  • 3 · Investment income

    total $2,102,747 · excluded $2,102,747

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $18,000,000 · program services $18,000,000

  • 5 · Compensation of officers, directors and key employees

    total $719,024 · program services $377,510 · management and general $215,694 · fundraising $125,820

  • 7 · Other salaries and wages

    total $141,524 · program services $42,457 · management and general $99,067

  • 9 · Other employee benefits

    total $9,262 · program services $2,779 · management and general $6,483

  • 10 · Payroll taxes

    total $41,672 · program services $19,443 · management and general $16,832 · fundraising $5,397

  • 11b · Fees: legal

    total $4,552 · management and general $4,552

  • 11c · Fees: accounting

    total $498,134 · program services $222,112 · management and general $276,022

  • 11f · Fees: investment management

    total $182,228 · management and general $182,228

  • 11g · Fees: other

    total $4,127,861 · program services $3,811,086 · management and general $316,775

  • 13 · Office expenses

    total $18,347 · management and general $18,347

  • 14 · Information technology

    total $195,324 · management and general $195,324

  • 17 · Travel

    total $3,613 · management and general $3,613

  • 23 · Insurance

    total $21,158 · management and general $21,158

  • 24a · Other expenses: PROGRAM EXPENSES

    total $1,694,569 · program services $1,694,569

  • 24b · Other expenses: RESEARCH

    total $168,152 · program services $168,152

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,224,321 · end of year $6,446,681

  • 2 · Savings and temporary cash investments

    beginning of year $19,150,794 · end of year $14,954,023

  • 3 · Pledges and grants receivable

    beginning of year $4,558,988 · end of year $115,001

  • 4 · Accounts receivable

    beginning of year $352,057 · end of year $1,299,274

  • 9 · Prepaid expenses and deferred charges

    beginning of year $284,935 · end of year $358,053

  • 11 · Investments: publicly traded securities

    beginning of year $68,961,807 · end of year $66,484,946

  • 17 · Accounts payable and accrued expenses

    beginning of year $606,412 · end of year $825,228

  • 27 · Net assets without donor restrictions

    beginning of year $98,016,652 · end of year $87,418,473

  • 28 · Net assets with donor restrictions

    beginning of year $4,909,838 · end of year $1,414,277

Mission and programs · 2024

Mission

SEE SCHEDULE ONEW INCENTIVES IMPLEMENTS EVIDENCE-BASED PROGRAMMING TO SAVE LIVES IN A MANNER THAT DOES THE MOST GOOD PER DOLLAR. WE PROVIDE CASH INCENTIVES TO INCREASE CHILDHOOD VACCINATION RATES.CORE VALUESCAREGIVERS FIRSTINFANTS AND THEIR CAREGIVERS ARE OUR TOP PRIORITY.ACCOUNTABILITYWE VALUE TRANSPARENCY AND SCRUTINY. WE INCORPORATE TRACKING AND VERIFICATION IN ALL OF OUR WORK, AND PROMOTE CRITICAL THINKING AND PROFESSIONAL SKEPTICISM.INTEGRITYWE HAVE ZERO TOLERANCE FOR DISHONESTY. WE ARE GUIDED BY THE PRINCIPLES OF INCORRUPTIBILITY, MERITOCRACY, AND IMPARTIALITY. WE STAND UPON THE MORAL COURAGE OF EACH TEAM MEMBER.PURSUIT OF EXCELLENCEWE BELIEVE IN PURSUING EXCELLENCE BY USING SCIENCE, EVIDENCE, AND DATA TO DRIVE PROGRAM DESIGN AND IMPLEMENTATION. WE MEASURE, TEST AND ITERATE, AND VALUE FEEDBACK LOOPS.

Activities or mission (Part I)

IMPLEMENT EVIDENCE-BASED PROGRAMMING TO SAVE LIVES IN A MANNER THAT DOES THE MOST GOOD PER DOLLAR. WE PROVIDE CASH INCENTIVES TO INCREASE CHILDHOOD VACCINATION RATES.

  • NEW INCENTIVES, VIA ITS NIGERIA-BASED ORGANIZATION, ALL BABIES ARE EQUAL INITIATIVE (ABAE), OPERATED A CONDITIONAL CASH TRANSFER PROGRAM TO INCENTIVIZE MOTHERS (AND OTHER CAREGIVERS) TO VACCINATE THEIR INFANTS ACCORDING TO THE NIGERIAN ROUTINE IMMUNIZATION SCHEDULE TO REDUCE VACCINE-PREVENTABLE DEATHS. NEW INCENTIVES DISBURSED 8,754,280 CASH TRANSFERS TO CAREGIVERS AFTER VERIFYING COMPLETION OF REQUIRED IMMUNIZATIONS AND ENROLLED 1,735,095 CAREGIVERS AND THEIR INFANTS INTO THE CCTS FOR ROUTINE IMMUNIZATIONS PROGRAM.NOTE: THE $18,000,000 UNDER GRANTS PAID BY THE ORGANIZATION IS THE TOTAL OF TRANSFERS FROM NEW INCENTIVES TO ITS FOREIGN-CONTROLLED ENTITY ALL BABIES ARE EQUAL INITIATIVE (ABAE). ABAE DISBURSES GRANTS TO ELIGIBLE PROGRAM PARTICIPANTS ACCORDING TO STRICT ELIGIBILITY CRITERIA AND PROTOCOLS. DETAILED MONITORING IS CARRIED OUT TO ASSESS ADHERENCE TO PROGRAM PROTOCOLS AND CASH TRANSFER DISBURSEMENT POLICIES.IN 2024, NEW INCENTIVES ENROLLED 1,735,095 INFANTS IN THE CCT PROGRAM WITH 498,135 IMMUNIZATION DAYS, AND ARE NOW OPERATING IN 182 LGAS WITH 6,477 CLINICS.

    Expenses $24,338,108 · Grants $18,000,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Pratyush Agarwal

    DIRECTOR AND CHIEF OPERATING OFFICER

    Total calculated
    $359,577
    From this org
    $342,700
    From related orgs
    $0
    Other
    $16,877
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $342,700
    Bonus
    $0
    Other
    $0
    Deferred
    $13,277
    Nontaxable benefits
    $3,600
    Filer's total
    $359,577

  • Svetha Janumpalli

    DIRECTOR AND CHIEF EXECUTIVE OFFICER

    Total calculated
    $359,447
    From this org
    $342,700
    From related orgs
    $0
    Other
    $16,747
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $342,700
    Bonus
    $0
    Other
    $0
    Deferred
    $13,147
    Nontaxable benefits
    $3,600
    Filer's total
    $359,447

  • Elizabeth Hixson

    SR. COMM. & DEV. ASSOCIATE

    Total calculated
    $150,785
    From this org
    $141,524
    From related orgs
    $0
    Other
    $9,261
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $129,823
    Bonus
    $11,701
    Other
    $0
    Deferred
    $5,661
    Nontaxable benefits
    $3,600
    Filer's total
    $150,785

  • Patrick Peter Stadler

    DIRECTOR AND BOARD CHAIR

    Total calculated
    $0
    Hours/week
    2

  • Salina Yeung

    DIRECTOR AND TREASURER

    Total calculated
    $0
    Hours/week
    2

  • Michael Thomas

    DIRECTOR AND SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • Jeffrey Leniger

    DIRECTOR (AS OF 09/2024)

    Total calculated
    $0
    Hours/week
    2

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 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

The filer's explanations (Part III)

PART I, LINE 3
THE ORGANIZATION USES THE FAIR PAY FOR NORTHERN CALIFORNIA NONPROFITS REPORT. THE REPORT PROVIDES A DETAILED SUMMARY OF THE SURVEY RESULTS, WITH SUBCATEGORY FINDINGS GROUPED BY OPERATION SIZE (IN TERMS OF EXPENDITURES, OR NUMBER OF EMPLOYEES, ETC.), JOB FUNCTIONS, STANDARD BENEFIT PRACTICES, INSURANCE, AND OTHER BENEFIT COSTS THAT MAY BE PART OF THE OVERALL COMPENSATION PACKAGE. THE BOARD ALSO FACTORS IN OTHER RELEVANT COMPENSATION SURVEYS AS WELL AS COMPENSATION DATA REPORTED IN 990 RETURNS FROM COMPARABLE ORGANIZATIONS. A BOARD MEMBER WILL PROVIDE A PROPOSED COMPENSATION BASED ON THE REPORT NOTED IN THE FAIR PAY FOR NORTHERN CALIFORNIA NONPROFITS REPORT. ALL BOARD MEMBERS, EXCLUDING THE CEO AND COO, WILL VOTE TO APPROVE THIS. AN EXECUTIVE EMPLOYMENT AGREEMENT IS ALSO IN PLACE. THIS AGREEMENT SPECIFIES SALARY FOR THE YEAR SIGNED AND STATES THAT THE EXECUTIVE SALARY WILL BE SUBJECT TO REVIEW, AND ADJUSTMENTS WILL BE MADE BASED UPON THE ORGANIZATION'S NORMAL PERFORMANCE REVIEW PRACTICES.

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.

  • ALL BABIES ARE EQUAL INITIATIVE

    PROGRAM SERVICES · NI · controlled entity

    Directly controlled by NEW INCENTIVES

Provenance

Return type
form_990
Tax year
2024
Filed
31 October 2025
IRS schema version
2024v5.2
Source object
202543049349301964

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