2020
Annual Report
Table of Contents
2
1
Letter from the CEOs
5
Impact Areas
2
About NESsT
6
Response to Covid-19
3
Incubation & Impact Investing
7
Supporters
4
Impact by the Numbers
8
Financials
Annual Report 2020
Letter from the CEOs Dear Friends and Supporters of NESsT, The year 2020 was a year that was extremely tough for everyone and the toughest one NESsT has ever lived. A year of several global crises sprung from systemic exploitation of our delicate planet and many of its citizens, and who sadly were also those most affected by these crises. A year that presented all of us with unique challenges, and that will forever remind us what it feels like to consistently choose courage.
The courage of the NESsT team, and the concerted effort they made to support our portfolio of enterprises. It was amazing to see them react to the crisis; reaching out to our entrepreneurs, surveying them on their immediate needs and of their employees and families; but also listening to their business challenges and providing them with needed resources so that they could streamline and pivot to new business lines and sales channels. The courage of our entrepreneurs, who demonstrated to the world that the same resilience they apply every day in running and growing their companies in remote places with the most underserved populations, made them the perfect frontline respondents to the crisis. It was incredible to see how quickly they reacted and began working locally to save lives; repurposing their products to make them available to those in need; revamping their operations so that they could keep their workers safely working and providing for their families. And the courage and generosity of our supporters, who reached out and
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Annual Report 2020
offered additional support so that we could meet immediate needs and help sustain our portfolio. Because of this courage, resilience and generosity, NESsT sustained 3,200 quality jobs in 2020 that led to a 23% increase in income and improved the lives of 35,600 people. We invested close to $1 million in recoverable grants and patient loans, while ensuring the survival of our portfolio of enterprises. Our Loan Fund created a new working capital product that it deployed to ensure that suppliers would have the inputs needed to sell their goods in a timely manner. And we were able to launch new programs such as the Latin America Accelerator with IKEA Social Entrepreneurship in Brazil, Chile, Colombia and Peru; the Amazon Indigenous Rights and Resources with USAID and WWF; the Amazon Incubator with the Climate and Land Use Alliance in Brazil; and NESsT Empowers supporting youth and women to access the Digital Economy with Google.org, J.P. Morgan Chase Foundation, BNY Mellon, and Credit Suisse in Poland. We invite you to read more about these stories in this report. Thank you for your belief in NESsT. Un fuerte abrazo (a heartfelt embrace), Nicole & Loïc
About NESsT We invest in enterprises that create quality jobs for underserved communities while sustaining the planet. We managed two programs to meet the diverse needs of growing enterprises.
Incubation To accelerate enterprises towards investment readiness with pre-seed capital & business mentoring.
Impact Investing To fuel the growth of enterprises with seed-stage debt capital & strategic advisory services.
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Incubation Program Since 1997, we have provided tailored business assistance alongside flexible financing, mostly in the form of grants and recoverable grants, to assist social enterprises to become profitable.
| 16 social enterprises comprised the incubation program across Brazil, Peru, and Poland. By the end of the year, 3 enterprises exited the portfolio and 3 entered through scouting in Brazil and Poland. Among the partners that have made the incubation program possible are BNY Mellon, Cisco, the Climate and Land Use Alliance, Google.org, IKEA Social Entrepreneurship, Fundação Arymax and Trafigura Foundation. In partnership with these supporters, we provided access to short-term working capital (pre-crisis, enterprises were seeking primarily long-term financing to invest in growth) and prepared to expand the portfolios in 2021 based on the increasing needs of social enterprises as the pandemic carried on. On the technical assistance side, these enterprises needed advice and expertise to develop downside scenarios, update their strategies, adapt their products/services, develop new online sales channels, and pursue new business opportunities responding to Covid-19 humanitarian needs. 5
Annual Report 2020
Photo: Instituto Aliança Empregos | Brazil
SUPPORTER SPOTLIGHT
IKEA Social Entrepreneurship Social Impact Objective Unemployment, Sustainable Agriculture, Circular Economy
Communities Supported At -risk women and youth, people with disabilities, ethnic minorities, migrants, small producers
Location Chile, Colombia, Peru, Brazil
Description of Program The accelerator welcomes 15 social enterprises that are on track to support 1,500 people from vulnerable backgrounds over the next three years. These enterprises were selected for their commitment to employment creation for low-income communities and for their potential to enter new markets, whether through new product lines, customer segments, and/or interest from new geographies.
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“IKEA Social entrepreneurship is about creating greater opportunities for the many people to live a better everyday life. Our partnership with NESsT will use a combination of IKEA knowledge and expertise from NESsT to support the scaling of 15 social entrepreneurs across Latin America so they can provide better income opportunities for vulnerable groups, but also for us to learn from them, on how we can together create a more fair and equal world.”
Åsa Skogström Feldt, Managing Director IKEA Social Entrepreneurship.
SUPPORTER SPOTLIGHT
Cisco Social Impact Objective Tech for Social Impact
Communities Supported Low-income communities
Location Global
Description of Program Cisco supports NESsT’s global operations by funding the automation of its due diligence, mentor management, and coaching services. Through Cisco support, NESsT has partnered with talented developers at Team Coaches to make entrepreneurship education accessible to entrepreneurs in the Amazon, as well as to empower each Portfolio Manager to improve their services to entrepreneurs by automating admin and data visualization tasks. 7
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“At Cisco, we believe in the power of technology to solve pressing social and environmental problems, and we want to inspire and empower social entrepreneurs to do so. We have been thrilled to see NESsT scale their operations to reach more social entrepreneurs supporting vulnerable populations, build their network of investors, and progress toward financial sustainability.”
Charu Adesnik Deputy Director, Cisco Foundation
Impact Investing: NESsT Fund The NESsT Fund provides debt capital to highimpact enterprises in South America that are advancing job creation. An impact-first fund, it targets enterprises with high social and environmental impact with highgrowth prospects but that are under-served by the traditional financial system. Over the course of 2020, the NESsT Fund welcomed two new social enterprises to the portfolio, bringing the total to three, all from Peru. The Fund’s portfolio all consisted of rural businesses supporting smallholder farmers to access markets for environmentallysustainable products including moss, deforestation-free coffee, and organic fruit. In addition to capital, the Fund provides business assistance to portfolio enterprises as well as those applying for our loans. Business assistance focuses on financial management, impact reporting and strengthening the capacity of enterprises to develop systems to streamline their operations.
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PERU | INKA MOSS Collects and processes sphagnum moss – a natural product that is highly demanded internationally for floral arrangements. The company trains and sources this natural resource from indigenous farmers, predominantly women, providing them with fair wages, and investing in infrastructure development in their communities. PERU | CAECOS Export organic, free-trade through its cooperative made up of 370 smallholder farmers living in the central jungle of the Peruvian Amazon who earn an average income that is 31% higher than the income earned by other farmers in the region.
Lending During the Pandemic The pandemic affected the lending operations of the NESsT Fund. The most significant impact was on the fund’s pipeline: | Enterprise operations were delayed due to lockdowns, which affected supply chains, in particular in rural areas. Furthermore, in some sectors such as retail and tourism, the pandemic forced small enterprises to put operations on hold. | Governments implemented stimulus programs that provided low-cost loans to small businesses in South America. The government loan programs channeled funds to small businesses that would not generally qualify for bank loans and normally would rely on lenders such as the NESsT Fund. In response to the pandemic, the Fund launched a new working capital loan product to provide shortterm liquidity to enterprises. Many enterprises responded favorably to this new product.
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Photo: Inka Moss | Peru
Fund Portfolio Spotlight: Greenbox Transforms regions in the Amazon Andes of Peru from harvesting coca plants for use in drug trafficking to harvesting organic fruit for value-add products. Through its exports, the enterprise is on track to employ 522 smallholder farmers over the next four years. Junín native, Magaly Crisóstomo, is the head of administration at Greenbox and oversees the company’s day to day revenues and spending, including documenting controls and logistics. In June, 2020, NESsT began to offer masterclasses to portfolio companies to help them manage key challenges during the COVID-19 crisis. Magaly joined the masterclasses to solidify her knowledge in the areas of business and finance. In Junín, 24.5% of people live in poverty and the industries for work for women are severely limited. Beyond supporting farmers, Greenbox is enabling local community members like Magaly to access career mobility. She aspires to take on more finance-related responsibilities at Greenbox and is pursuing a degree in accounting to expand her skillset, “My experience at Greenbox has been one of constant growth and learning,” she adds.
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2020 By the Numbers
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3,276
Portfolio Enterprises
Jobs sustained
88%
9%
Of people employed by NESsT Portfolio have a contract
Average increase in sales across NESsT Portfolio
23% Increase in income for people employed by NESsT Portfolio
$886k Invested into the NESsT Portfolio (grants, loans, recoverable grants)
Global Impact to Date 71,000 jobs sustained
Small & Medium Enterprises • $21M deployed in mentoring •
• •
•
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& financing 91%loan repayment rate 300+incubators implemented 50 Countries (Primarily Latin America, Central and Southeastern Europe) 96,000online followers
Annual Report 2020
• 47%increase in salesin 2020 • 200enterprises financed • 1,200enterprises mentored
• 19,000entrepreneurs trained
670,000 lives improved 16% increase in earnings
Impact Areas We focus on three impact areas when selecting social enterprises for our incubation and impact investing programs. These impact areas represent high-growth opportunities when it comes to generating dignified employment and access to income, ensuring job security, and proven business models that drive the support of private and public allies. Our programs aligning with these priority areas encompass the following: | NESsT Amazonia: Regenerative agriculture, circular economy, ecotourism. | Empowers: Workforce development, youth inclusion, diversity, equity and inclusion hiring.
| Gender Equity: Women in tech, women in leadership, financial empowerment.
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Photo: NESsT Portfolio Event | Poland
NESsT Amazonia Poverty lies at the heart of a significant proportion of the forest’s destruction. Farmers, loggers, ranchers and miners rush in from all over the Amazon basin and beyond to improve their livelihoods from the forest’s many natural resources. In the process, newcomers infiltrate the region and clear the forest, yet the natural resources they extract can only provide unsafe, unstable, underpaid work that further their conditions of poverty. Local and indigenous communities stand as one of the most important stakeholders against deforestation. Indigenous-led enterprises and those operating regenerative value chains in the Amazon basin provide significant opportunities to improve community livelihoods and resources for conservation. In 2020, NESsT continued to invest in local entrepreneurial solutions in the Amazon basin that build environmental resiliency. This culminated in strengthening the social entrepreneurship and impact investing ecosystem by undertaking the following initiatives:
| 750 conservation enterprises mapped | 15 sustainable value chains evaluated
| 17 Amazonia impact investors identified | 1 of 7 Open Calls to source indigenous-led enterprises. The remainder are scheduled for 2021. 14
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SUPPORTER SPOTLIGHT
World Wildlife Fund & USAID Social Impact Objective Amazon Indigenous Rights and Resources; Climate Change
Communities Supported Indigenous communities
Location Brazil, Colombia, Peru, Ecuador
Description of Program The program provides business mentoring, grants and patient capital to 30 early-stage indigenous-led enterprises in the Amazon basin that bring innovative products to the market that respect both their heritage and the planet. The products offered by these enterprises underscore the importance of conserving these environments and the autonomy of these communities in owning their entrepreneurial activities.
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Examples of Indigenous-Led Enterprises Selected Location: Colombia
Amazoníca de Colombia produces Cacay, Buriti, and Sacha Inchi oil, cultivated through an agroforestry approach and collected by the indigenous communities of Putumayo. The company currently works with 20 indigenous families and has client bases in Cali, Bogota and Medellín. 16
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Econawa is a family-owned eco-tourism company that seeks to preserve the habitat and traditional culture of the Awá community by working with 10 Awá native families to provide services to tourists, including lessons about the Awa culture and boat excursions in the Amazon rivers.
Comaji is an association formed by 15 families that are committed to maintaining the balance between preserving the rainforest and providing for its community members. The social enterprise produces 100% pure oil from Amazonian palms such as canangucha that are used for medicinal purposes.
Arte Colibrí - Artesanías is an association led mainly by women that offers products such as handle weaving, wool weaving, beaded weaving and various wood carvings, representing Putumayo today. The company’s artworks have participated in fairs in Colombia, Switzerland, and France.
Examples of Indigenous-Led Enterprises Selected Location: Peru Asociación Bosques de las Nuwas is an eco-tourism company made up of members of the Shampuyacu native community, from the Awajún district in San Martín. In addition, they manage a nursery with more than 100 varieties of medicinal plants for the preparation and marketing of infusions, while also preserving the food security of the community through the preservation of different types of cassava in danger of extinction. Asociación Social de Pescadores Artesanales de Paiche Puitsatawarakana Kukama This association involves 117 partners from 7 Kukama-Kukamiria native communities of the Lagunas district, of the Alto Amazonas Province in Loreto, and is dedicated to the breeding, processing and marketing of Paiche (Arapaima Gigas). The organization was established within the framework of the "Forest Entrepreneurs" project executed by WWF in alliance with FEDECOCA and CORPI-SL, through which it has been providing training, technical assistance and implementation in productive means. Asociación de Mujeres Productoras Charapi de La Comunidad Nativa Musakarusha This enterprise is comprised of women from the native community Musa Karusha of Loreto who are dedicated to the activity of harvesting taricaya eggs, applying ancestral techniques that enter the market.
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NESsT Empowers Talent shortage is the top concern for employers across the globe. We launched Empowers, a program that engages high-growth corporations who are interested in addressing their talent needs by hiring candidates who might not have all the desired skills and qualifications, but who could perform the job well with appropriate training. Five enterprises from Brazil and Peru comprise this portfolio and mitigate the talent shortage by enabling their clients to shift from recruiting solely across traditional channels and instead hiring these social enterprises to 1- train and vet talent from underserved communities including youth, women and people with disabilities; and 2- host courses for their HR departments and leadership across the company on diversity, equity and inclusion. Upon the onset of COVID-19, NESsT partnered with its portfolio companies, Future Collars and Mamo Pracuj Foundation, to host a Career Summit for Women in IT that convened 1,200 women and 20+ corporations from 17 countries. Both social enterprises are diversifying the tech workforce in Poland by providing technical training and services to ensure that women, especially parents, stand out during the recruiting process and thrive in their roles long after hiring. 18
Annual Report 2020
Photo: Future Collars | Poland
SUPPORTER SPOTLIGHT
BNY Mellon Foundation Social Impact Objective Unemployment & income generation
Communities Supported At-Risk women, orphaned youth, Low-income individuals
Location Poland & Brazil
Description of Program NESsT and BNY Mellon seek to ensure equal access to the digital economy for underrepresented communities, such as women, orphaned youth, and low-income communities. Volunteers from BNY Mellon have supported the development of the curricula and offered training and mentoring opportunities for the youth and women, through very engaged corporate social responsibility programs.
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“We have programs that help women start their careers in Technology through internal recruitment. With some examples in our company, I notice that they entered the field gradually, after many years of experience. I urge others to do the same even if they merely wade along the shore.”
Ewa Carr de-Avelon General Manager of BNY Mellon Poland
Gender Equity is not a given in social impact Gender Lens Investing for NESsT means directing its investments towards enterprises that employ and/or include women in their supply chains. Moreover, these enterprises should already achieve or seek to achieve the following: | Eliminate gender biases in their hiring practices, close the gender wage gap, and provide the same professional development opportunities and level of job security to women as men. | Create workplaces that focus on gender inclusion and address the specific needs of women employees (i.e. sexual, harassment policy, workplace safety, antidiscrimination, and others). | Increase the number of women in management positions and in their supply chains. In return, NESsT commits to support enterprises to transition from quantifying gender equity towards implementing changes with quantitative and qualitative outputs.
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Photo: Estrafalario | Peru
Gender Lens Investing at NESsT: By the Numbers
79% 60% 55% of jobs created by our enterprises benefit women.
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of our enterprises serve women as employees or clients.
of our enterprises are women-led.
46% of our enterprises have women in senior management roles.
Gender Lens Investing for Fund Managers How-To Guide delivered into email inboxes over seven weeks We convened an online community of 100+ impact fund managers who are responsible for trainingtheir leadership, portfolio managers, and investees inbuilding gender equitable practices into their businesses. We covered the full process, from drafting the strategy to selecting the metricsandpiloting them withaportfolio.NESsT’swork wasfeaturedin Sage 3.0,an initiative by Catalyst-at-Large,WhartonSocial Impact Initiative, Visa Foundation,andBankof America.
“In less than 8 months, we assessed our current impact investing framework, we proposed a new gender lens framework and set of metrics, we tested it with our entrepreneurs and the people they impact. Based on what we learned, we created and implemented a new framework. This meant adjusting our impact measurement tools, working with our portfolio to ensure that they understand the gender dynamics of their business, and supporting them to incorporate gender inclusive policies and practices.” – Renata Truzzi, NESsT Country Director, Brazil
With support from:
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Learnings from COVID-19: When Crisis Struck Every Enterprise at Once Our unwavering philosophy has always been to provide high-impact enterprises with flexible capital that is aligned with the costs and risks they face in achieving positive social changes. As a result of the COVID-19 pandemic, we distributed emergency funding to the social enterprises in our portfolio with the greatest need. These companies worked to ensure that their employees, among the highest at risk from the COVID-19 pandemic, were able to access the income they needed to meet their immediate needs and prepare for the devastating impact of economic shock that will push people further into crisis. 23
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Photo: Llama Pack | Peru
Responding to COVID-19
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March 2020
September 2020
The World Health Organization declares COVID-19 a pandemic after months of delayed action that failed to prevent worldwide spread. National lockdowns begin.
NESsT Enterprises are gaining traction on the new short- and long-term goals that were identified through the contingency planning with NESsT portfolio managers.
Annual Report 2020
June 2020
December 2020
NESsT launches masterclasses to support entrepreneurs with business pivots after months of surveying entrepreneurs on the impact of the pandemic on their business, their employees and supplies.
NESsT launches open calls to expand its support of social enterprises working in remote and underserved communities with new partners, including USAID, IKEA Social Entrepreneurship, and the World Wildlife Fund.
Contingency Planning Process Social enterprises are rapidly evolving so their need to pivot is nothing new. Even though our many of portfolio enterprises had plans to develop their e-commerce and digital infrastructure, the pandemic required that they accelerate these transitions. At the same time, entrepreneurs had to monitor government and public health regulations, understand lifestyle changes developed as a result of the virus, and sustain client and employee satisfaction during a period of crisis. While the productivity and programming was delayed because of the discrepancies in the global response to the virus, NESsT determined a path forward with each enterprise through a contingency planning process that included several elements.
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1
One-on-one coaching, matching to mentors, and organization of peer-to-peer exchanges.
2
Masterclasses to train entrepreneurs in new skill areas.
3
Loan restructuring and new financing rounds.
4
Design of new product and business opportunities alongside entrepreneurs to sustain social and environmental mission.
5
Investment in virtual portfolio management infrastructure at NESsT.
Short-Term Relief The pandemic restricted people’s movements and prevented many employees and their clients from exchanging goods and services that ensured their livelihoods. The employees and suppliers of our enterprises live in communities where people generally earn the minimum wage, and do not have savings. Through our dignified employment surveys, we know that the average household size of a family of a NESsT Enterprise employee is five. With massive unemployment experienced all at once, social entrepreneurs felt an acute sense of pressure to meet payroll and avoid layoffs, knowing that most of their employees are part of households living in poverty. Our social entrepreneurs initially perceived that their impact would be difficult to recover given the investment of time and resources recruiting, training and mobilizing in remote and vulnerable communities. Over the course of the year, the enterprises responded to the crisis by altering their business strategies and pivoting toward platforms and activities to turn these challenges into opportunities for their businesses. Over the course of 2020, we provided funding in form of grants to sustain jobs and ensure worker safety; supported companies with accessing emergency funding (i.e. government, philanthropic, clients); evaluated high-stake, short-term decisions alongside entrepreneurs; and provided guidance to entrepreneurs on worker safety.
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Portfolio enterprise Pixed repurposed its 3D printing equipment to provide personal protective equipment to healthcare professionals in Lima, Peru.
Long-Term Response: Making Frontline Investing the New Normal During the pandemic, NESsT benefitted from its well-established process that provides us direct access to portfolio leadership, their employees and clients. The response of these enterprises at the frontline repeats itself over and over again: they demonstrate empathy, flexibility, rapidness, risk tolerance, and a deep desire to save and improve lives. Our role as their incubator and impact investor was to catalyze capital and other resources to ensure that those who live in conditions of exclusion were given an opportunity to overcome the hardships. The pandemic brought to light an opportunity for our industry to make frontline investing the new normal. Having supported enterprises to position themselves for future growth simply because they sustained their operations and the trust of their communities at a time when so many businesses have been forced to close permanently, NESsT finished the year with several new financial products as well as investors with whom we agreed to expand the portfolio in 2021. Among the achievements that will result in long-term impacts are the following: 27
Annual Report 2020
1
2
3
4
Launched new financial products (e.g. short-term working capital loans, bridge funding) Leveraged new funding to support companies as they transform themselves & expand into new industries. Established loan guarantee funds. Evaluated and ensured genderinclusive support (i.e. addressing caregiver & employment double burden; surge of domestic violence experienced by women while sheltering in place).
Social Enterprise Spotlight by Industry How these enterprises ensured that the communities they employ and serve could sustain access to resources.
COUNTRY ENTERPRISE DESCRIPTION COVID-19 IMPACT
RESPONSE
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Digital Economy
Sustainable Agriculture
EcoTourism
🇧🇷 Brazil
🇵🇪 Peru
🇵🇪 Peru
Greenbox
Llama Pack
Trains youth from low-income backgrounds for roles in high-growth industries.
Organic fruit producer and manufacturer exporting for B2B clients internationally.
Runs a Llama Trek Service, Llama Park and intercultural educational courses that provide alternative income to pastoral communities.
Widespread unemployment led to decreased demand for entry-level talent & lockdowns closed education centers.
Demand for healthy snacks and designation as essential business increased demand from its clients.
Mandatory lockdowns shut down travel globally for the year.
Transferred its education program into a digital platform to train 1,000 youth and built a talent bank that has placed 200 youth into employment.
Expanded product lines from pineapple, mango and banana, to include turmeric and ginger with investment from the NESsT Fund.
Trained 45 llama farmers and provided humanitarian assistance to low-income communities in Cusco as a recipient of the NESsT Relief Fund.
CIEDS
Social Enterprise Spotlight by Industry How these enterprises ensured that the communities they employ and serve could sustain access to resources.
Digital Economy
Mamo Pracuj | Poland Assisted 296 women with entering the tech workforce during the pandemic, including mothers; and is building an online community reaching nearly 60k visitors monthly to increase the representation of women in tech. 29
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Fashion
Estrafalario | Peru 100% YoY growth in sales through the employment of 45 incarcerated women and their production of 20,000 masks for sale and donations.
Hospitality, Restaurant, and Catering
DALBA | Poland Provided meals to healthcare professionals and purchased a delivery van to complete bistro deliveries with NESsT funding.
Empanacombi | Peru Adapted its packaging, order fulfillment process, and launched new menu items to generate revenue to sustain its employees full time.
Supporters
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International Board & Individual Supporters Our supporters volunteer their business management, financial and social sector expertise to help NESsT achieve its mission. Thank you for choosing NESsT!
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Board of Directors
Individual Supporters
Irina Anghel-Enescu Loïc Comolli Lord Mervyn Davies of Abersoch, CBE Nicolas Duleroy Nicole Etchart Edwin Gutierrez Geoff Hamlin Brett Hamsik (Secretary) Johanna Posada (Treasurer) Bret Rosen (Chair) Brian Wardrop David York
Khalid AlAbbas Fabiana Cid de Andrade Ghislaine Augier Grant Brooker Michelle Brown Collyer Family Lee Davis Oscar Decotelli Katherine Downs Victor Espinoza Timothy Fleskes Ian Fishwick Alice Gasch Edwin Gutierrez Geoff Hamlin Brett Hamsik Alexander Johnson Domenic Johnson Mark Hepsworth Sergio Honorio Freita Evy Marquez David McArthur Alex Mendoza Joe Kastner Isabel Kelly Jennifer and Tim Kingston Family Fund
Annual Report 2020
Martha Kramer David Lubin Brad Michaels Manuel Orillac Neal Osborn Christopher Peel James Peel Juan and Johanna Posada Rosalu Queiroz Mark Rosen Riefler/Boyatt Family Fund David Salvo Richard Smith Steve Smith Muriel Soupart Clint Swigart Vlad Taralunga Ozan Tarman Victor Espinoza Alice Gasch Gunasiri Wanigaratne William White David York Varant Zanoyan
Financials SUPPORT & REVENUE Private Contributions & Grants Government Grants
$2,243681 $365,060
In-Kind Contributions
$31,845
Investment Returns
$62,261
Foreign Currency Gain / Loss
(36,284)
Total Operating Revenue
$2,692,654
OPERATING EXPENSES Program Services General & Administrative Fundraising
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$1,322,361 $153,141 $69,859
Total Expenses
$1,545,361
Increase in Net Assets
$1,147,293
Net Assets, Beginning of Year
$1,451,871
Net Assets, End of Year
$2,599,164
Annual Report 2020
Contact Giving@nesst.org