NEXLEAF ANALYTICS BUILDS WIRELESS CONNECTED DEVICES AND SENSOR TECHNOLOGIES TO CREATE POSITIVE IMPACT THROUGH HEALTH, ENVIRONMENTAL AND SOCIAL INTERVENTIONS. NEXLEAF ANALYTICS DEVELOPS LIGHTWEIGHT, FIELDTESTED SENSORS, CELL PHONE APPLICATIONS, [continued on page 2]

501(c)(3) charity; gifts are tax-deductible.
70¢ of each $1 spent went to programs.
$1.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $701K a year · 9% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.1M
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
12 mo
of spending, in cash
Looks good: 11.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $2.5M
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$993K
9% of total assets
Looks good: liabilities are 9% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 9 voting members
Looks good: 7 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.5M
-59% vs prior year
Spent
$9.6M
To programs
70%
Net assets
$10.1M
By yearFY2020–FY2024
Revenue
$6.5M
FY2023▼ -59%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.5M
FY2021$4.9M
FY2022$15.6M
FY2023$6.5M
FY2024$4.8M
Expenses
$9.6M
FY2023▲ +40%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.6M
FY2021$4.2M
FY2022$6.9M
FY2023$9.6M
FY2024$8.5M
Net assets
$10.1M
FY2023▼ -24%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.8M
FY2021$4.4M
FY2022$13.2M
FY2023$10.1M
FY2024$6.4M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 2010.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $6.7M Management & general 27% · $2.6M Fundraising 3% · $283K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

14 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation
CEO/Co-Founder
$215,257Pt VII · Sec A
Head of Product
$179,385Pt VII · Sec A
CTO/Co-Founder
$167,952Pt VII · Sec A
Software Engineer
$145,626Pt VII · Sec A
Engineering Dir
$140,129Pt VII · Sec A
Software Engineer
$128,141Pt VII · Sec A
SR Backend Engr
$127,790Pt VII · Sec A
$0Pt VII · Sec A

Nithya Ramanathan’s $215K as CEO/Co-Founder is at the 76th percentile of top reported officer pay among 3128 $1–10M health care nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Nithya Ramanathan$215,000$215,257$173,320$153,388$150,000
Charles C Mills—$179,385$156,337——
Martin Lukac$168,487$167,952$158,915$148,281$145,000
Kevin Arts$164,986————
Oluwayemisi E Adetunji——$150,872$32,936—
Terence D Honles$147,098$145,626$144,157$138,325$130,000
Lucas Howell$145,562$140,129$140,477$133,075—
Gajaba Varuna Wijesinghe———$138,044—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Develops wireless sensors and apps for health, environmental, and social impact.

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Provided by the organization

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3 programs · $6.7M · in their own filed words · FY2023
01

Vaccines

Remote temperature monitoring of cold chain equipment: Our vaccine program uses wireless technologies to monitor the temperature inside of refrigerators and cold storage facilities, which are used to store vaccines and other temperature-sensitive medications.

$6.7Mprogram expense
02

Air Pollution and Clean Cookstove Monitoring

Nexleaf develops a low-cost, wireless clean or improved cookstove sensor. This sensor monitors the amount of cooking performed on such cookstoves to help verify the amount of carbon emissions that can be saved by switching to cleaner burning cooking methods.

Pt IX · col B
03

Hope and Innovation

Exploring new applications of our technologies:Programs supported by the organization all utilize mobile sensing technology to monitor and develop data for various activities, environments, and/or communities.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Gavi AllianceFY2024$1.6M
Total grants receivedfrom 3 funders$2.5M
See all 3 funders →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$6.5M
Ln 12
Gifts and grantsLn 1h$3.9M
Fees for servicesLn 2g$2.2M
Investment incomeLn 3$354K
Money outPt IX
$9.6M
Ln 25
Programscol B$6.7M
Managementcol C$2.6M
Fundraisingcol D$283K
Owns and owesPt X
$10.1M
net assets · Ln 32
Cash and savingsLn 1–2$9.4M
Total assetsLn 16$11.0M
LiabilitiesLn 26$993K
PeoplePt VI, VII
14
listed · VII A
PaidVII A7
Voting boardVI 1a9
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.9M
Fees for servicesLn 2g$2.2M
Investment incomeLn 3$354K
Gains on assetsLn 7$0
Total revenueLn 12$6.5M
Assets in detailPt X, end of year
CashLn 1$9.4M
SavingsLn 2$0
Cash and savings togetherLn 1–2$9.4M
InvestmentsLn 11–13$553K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$11.0M
LiabilitiesLn 26$993K
Net assetsLn 32$10.1M
OperationsPt I, VI
EmployeesI 535
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$11.6M$9.4M
InvestmentsLn 11–13$1.3M$553K
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$14.1M$11.0M
LiabilitiesLn 26$923K$993K
Net assetsLn 32$13.2M$10.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$388K$304K$62K$22K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$3.7M$2.9M$600K$211K
Pension plan contributionsLn 8$101K$79K$16K$6K
Other employee benefitsLn 9$394K$309K$63K$22K
Payroll taxesLn 10$230K$180K$37K$13K
Management feesLn 11a$0
Legal feesLn 11b$6K$6K
Accounting feesLn 11c$48K$48K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$554K$368K$182K$4K
Advertising and promotionLn 12$0
Office expensesLn 13$107K$60K$46K$962
Information technologyLn 14$60K$28K$32K$463
RoyaltiesLn 15$0
OccupancyLn 16$5K$3K$2K
TravelLn 17$606K$259K$343K$4K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$23K$23K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$15K$15K
Other expenses (24a–d)Ln 24$3.3M$2.2M$1.1M$14
All other expensesLn 24e$1K$1K
Total functional expensesLn 25$9.6M$6.7M$2.6M$283K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $4.8M$8.5M−$3.7M$6.4M 990 PDF
FY2023 Viewing $6.5M$9.6M−$3.1M$10.1M 990 PDF
FY2022 $15.6M$6.9M$8.7M$13.2M 990 PDF
FY2021 $4.9M$4.2M$663K$4.4M 990 PDF
FY2020 $5.5M$4.6M$887K$3.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $6,460,831 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $14,167,851$3,924,269
I-9 Program service revenuePrior year $1,390,088$2,182,184
I-10 Investment incomePrior year $21,807$354,378
I-11 Other revenue$0
I-12 Total revenuePrior year $15,579,746$6,460,831
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,673,525$4,852,595
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,177,528$4,716,268
I-18 Total expensesPrior year $6,851,053$9,568,863
I-19 Revenue less expensesPrior year $8,728,693−$3,108,032
Part VI · Governance 7 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $6,460,831 across 9 lines filed
VIII-1f All other contributions, gifts and grants$3,924,269
VIII-1h Total contributions, gifts and grants$3,924,269
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,182,184$2,182,184
VIII-3 Investment incomeExcluded from tax $354,378$354,378
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $2,182,184 · Excluded from tax $354,378$6,460,831
Part IX · Statement of functional expenses $9,568,863 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staffPrograms $303,749 · Management $62,219 · Fundraising $21,830$387,798
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wagesPrograms $2,929,600 · Management $600,085 · Fundraising $210,553$3,740,238
IX-8 Pension plan contributionsPrograms $79,183 · Management $16,220 · Fundraising $5,691$101,094
IX-9 Other employee benefitsPrograms $308,554 · Management $63,203 · Fundraising $22,176$393,933
IX-10 Payroll taxesPrograms $179,784 · Management $36,826 · Fundraising $12,922$229,532
IX-11a Management fees$0
IX-11b Legal feesManagement $6,165$6,165
IX-11c Accounting feesManagement $48,314$48,314
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for servicesPrograms $368,387 · Management $181,732 · Fundraising $3,831$553,950
IX-12 Advertising and promotion$0
IX-13 Office expensesPrograms $59,616 · Management $46,371 · Fundraising $962$106,949
IX-14 Information technologyPrograms $27,635 · Management $31,709 · Fundraising $463$59,807
IX-15 Royalties$0
IX-16 OccupancyPrograms $3,276 · Management $1,899$5,175
IX-17 TravelPrograms $259,009 · Management $343,118 · Fundraising $4,348$606,475
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 InterestPrograms $22,534$22,534
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 InsuranceManagement $14,607$14,607
IX-24 Other expenses (24a–d)Programs $2,180,192 · Management $1,110,958 · Fundraising $14$3,291,164
IX-24e All other expensesManagement $1,128$1,128
IX-25 Total functional expensesPrograms $6,721,519 · Management $2,564,554 · Fundraising $282,790$9,568,863
Part X · Balance sheet $11,047,461 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $11,619,431$9,432,723
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivableStart of year $793,454$641,815
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred chargesStart of year $379,939$420,291
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securitiesStart of year $731,227$0
X-13 Program-related investmentsStart of year $552,632$552,632
X-14 Intangible assets$0
X-15 Other assetsStart of year $8,360$0
X-16 Total assetsStart of year $14,085,043$11,047,461
X-17 Accounts payable and accrued expensesStart of year $216,027$227,864
X-19 Deferred revenueStart of year $124,347$164,600
X-24 Unsecured notes and loans payableStart of year $500,000$500,000
X-25 Other liabilitiesStart of year $82,467$100,073
X-26 Total liabilitiesStart of year $922,841$992,537
X-27 Net assets without donor restrictionsStart of year $13,162,202$9,204,924
X-28 Net assets with donor restrictions$850,000
X-32 Total net assets or fund balancesStart of year $13,162,202$10,054,924
X-33 Total liabilities and net assetsStart of year $14,085,043$11,047,461
Part XI · Reconciliation of net assets $10,054,924 net assets at year end
XI-1 Total revenue$6,460,831
XI-2 Total expenses$9,568,863
XI-3 Revenue less expenses−$3,108,032
XI-4 Net assets at start of year$13,162,202
XI-5 Net unrealized gains (losses) on investments$754
XI-10 Net assets at end of year$10,054,924

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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