Naney, Incorporated

Trust is Our Foundation

Correll, MN   |  www.naneyinc.org

Mission

Naney, Incorporated invests in the dignity of communities in Niger, focusing on capital and capacity.

Ruling year info

2017

President and CEO

Jocelyn Farrington

Main address

63434 US Hwy 12

Correll, MN 56227 USA

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EIN

82-2148940

NTEE code info

International Economic Development (Q32)

IRS filing requirement

This organization is required to file an IRS Form 990-N.

Programs and results

What we aim to solve

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Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Investment Package

NANEY groups, anywhere from 20-100 people, generally women, save a minimum of $10 each over a year. In Niger, the annual per capital income is about $1000. Saving $10 over a year in Niger is like saving $600 in a year in the US. It is reasonable but also significant.

Once the group – and the individual – has proven their ability to work together and save through the savings activity, NANEY provides two starter investments to each individual, managed in the group. A $40 sheep loan and a $40 peanut loan.

These two loans provide a minimum return on investment of 100% for each individual (meaning that for a $40 loan they generate at least $80 of revenue) in the first year. The loans are structured to be self-perpetuating, generating capital for the group and allowing new individuals to join. NANEY’s initial investment in a community will double in value in 5 years and that capital stays in the group and in the community. Once additional capital is generated, it can be used to fund other projects of importance or value to the community.

Population(s) Served

Where we work

Financials

Naney, Incorporated
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Operations

The people, governance practices, and partners that make the organization tick.

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Connect with nonprofit leaders

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  • Analyze a variety of pre-calculated financial metrics
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  • Compare nonprofit financials to similar organizations

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Naney, Incorporated

Board of directors
as of 12/5/2019
SOURCE: Self-reported by organization
Board chair

Jocelyn Farrington

Patrick Johnson

Edge Capital Partners LLC

Christine Heaton

Big Elm Brewing

Kabirou Amusa

Cara Greger

Minnesota Department of Natural Resources

Patrick Kadian

Paul Bellin

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? No
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? No
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? No
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? No
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No