2025-11-17T14:47:17-08:00 2024-12-31 STEVEN J HANDZEL 302 N HIGH ST WEST CHESTER PA 19380 990 2024-01-01 233061896 SOSTENICA INC SOST 2034410717 175 RICHDALE AVE CAMBRIDGE MA 02140 ALAN WRIGHT BOARD PRESIDENT 2034410717 2025-11-06 true true Steven J Handzel P00579470 6106967480 2025-11-06 2024 2025-03-06 01:10:19Z X ALAN WRIGHT 175 RICHDALE AVE CAMBRIDGE MA 02140 20080 false X N/A X 2000 PA SosteNica empowers the people of Nicaragua to achieve financial security and healthy lives within vibrant,sustainable communities through microcredit,technical assistance, and outreach to low income smallholder farmers and school children. 9 7 0 0 0 0 15450 20080 0 0 47569 0 63019 20080 0 0 0 0 0 309194 3132 309194 3132 -246175 16948 733289 730156 1509920 1489839 -776631 -759683 SosteNica empowers the people of Nicaragua to achieve financial security and healthy lives within vibrant,sustainable communities through microcredit,technical assistance, and outreach to low income smallholder farmers and school children. false false 0 0 0 Research strategies for sustainable agriculture in rural Nicaragua and train local farmers in strategies developed. Research into occupational risk factors of Chronic Kidney Disease (CKD) among a cohort of Central American workers affecting clients of SosteNica. Program suspended during 2022. 0 0 0 Microlending in Nicaragua. Due to political and economic issues in Nicaragua, this program did not receive any interest income nor did it pay dividends to investors in the program. 0 true false false false false false false false false false false false false true false false false false false false true false false false false false false false false false false false false true false false false false false false false false false false false false false true 0 0 0 false true NU false false false false false false false false X 9 7 false false false false false false false true true false false true true true true true true false false false PA X X Joseph DeNicola 2037078518 29 Old Orchard Rd North Haven CT 06473 X Joseph DeNicola Executive Director 5.00 X X 0 0 0 Rev Owen Owens Member 1.00 X 0 0 0 V Scott Bihl Member 1.00 X 0 0 0 Joanna Lane Member 1.00 X 0 0 0 DeLaura Padovan Member 1.00 X 0 0 0 Alan Wright President 1.00 X X 0 0 0 Rachel Lindsay Secretary 1.00 X X 0 0 0 Tim Keyes Treasurer 1.00 X X 0 0 0 Peter Guarino Vice President 1.00 X X 0 0 0 0 0 0 0 false false false 0 20080 20080 0 0 0 0 20080 0 0 0 2804 0 2804 0 61 0 61 0 267 0 267 0 3132 0 3132 0 13390 10257 719899 719899 733289 730156 397270 398529 1112650 1091310 1509920 1489839 X -776631 -759683 -776631 -759683 733289 730156 16948 X false false false X 0 0 433333 265423 178720 63020 20080 960576 0 61393 31533 18867 0 0 111793 0 494726 296956 197587 63020 20080 1072369 0 0 0 1072369 1072369 1.00000 1.00000 0.00000 0.00000 X Funds in Administration (Micro Lending) 719899 719899 Central America 0 0 Program Services Program discontinued 0 0 0 0 0 0 0 false false false false false false Talmadge Hill Commun Co-directors Microlending X 100000 95253 false true true Justin Wright Bd Member Son Microlending X 72000 81724 false true true Joseph DeNicola Board Member Microlending X 50000 48099 false true true Alan Wright Board President Microlending X 38000 36365 false true true V Scott Bihl Board Member Microlending X 35000 32885 false true true Peter Guarino Board Member Microlending X 31543 28971 false true true Rachel Lindsay Board Member Microlending X 20000 18796 false true true Delaura Padovan - Hi Board Member Microlending X 18000 18020 false true true George Lindsay Board Member Microlending X 20000 16897 false true true Maren Padovan-Hickma Bd Member Family Microlending X 12000 12013 false true true Oliver Kline Bd Member Family Microlending X 10000 9506 false true true 398529 Pt VI, Line 11b The return is prepared by a CPA based on data provided by the Executive Director. A draft is forwarded to the Board President for review. Once finalized, the final 990 is forwarded to the board by the President via email. Pt VI, Line 12c The Board reviews the policy annually for individual and collective board compliance. Pt VI, Line 19 :Key governing and financial documents are made available to the public on the website. Financial documents are also emailed to individual investors. As noted in the 2023 return, most program services of SosteNica halted in 2022. Micro lending was becoming problematic during 2023. This was a result of political instability in Nicaragua. Continued instability has resulted in an inability to resume the charitable purpose of SosteNica and called into question microlending. The organization effectively ceased operation in 2024 eliminating paid staff responsible for regulatory fiscal filings. The board elected to dissolve the corporation in October 2025 and reached out to a prior accountant to assist with the dissolution process. In ascertaining the status of fiscal affairs, accountant learned that prior staff had not filed either the 2024 990 nor an extension request. Within two weeks this return was prepared by what would have been the extension deadline. The organization is in a negative equity position. Remaining assets are pledges to pay creditors. Creditors will be paid approximately 15 cents on the dollar. Articles of dissolution have been adopted and legal requirements have commenced. Organization will file a final 990 on a timely basis to account for the dissolution process. In order that all creditors might be paid the maximum possible, we respectfully request that no penalty be assessed.