Totals
- Total revenue
- $267,003
- Total expenses
- $288,078
- Contributions and grants received
- $212,312
- Grants paid
- $0
- Program service revenue
- $54,691
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $24,301
- Total liabilities, end of year
- $59,785
- Net assets or fund balances, end of year
- -$35,484
- Program services expenses (Part IX)
- $203,604
- Management and general expenses
- $37,724
- Fundraising expenses
- $46,750
- Program service expenses (Part III)
- $203,604
Program services were 70.7% 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.
-
1a · Federated campaigns
$0
-
1b · Membership dues
$0
-
1c · Fundraising events
$0
-
1d · Related organizations
$0
-
1e · Government grants (contributions)
$1,000
-
1f · All other contributions, gifts and grants
$211,312
-
1g · Noncash contributions included above
$0
-
2a · Program service revenue: PROGRAM SERVICE FEES
total $54,691 · related or exempt $54,691 · unrelated business $0 · excluded $0
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
6c · Rental income or loss
real property $0 · personal property $0
-
7c · Gain or loss
securities $0 · other assets $0
-
8a · Fundraising events: contributions included on line 1c
$0
-
11e · Other revenue, total
$0
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $150,000 · program services $112,500 · management and general $7,500 · fundraising $30,000
-
9 · Other employee benefits
total $20,458 · program services $20,458
-
10 · Payroll taxes
total $13,461 · program services $10,096 · management and general $673 · fundraising $2,692
-
11b · Fees: legal
total $11,245 · management and general $11,245
-
11c · Fees: accounting
total $12,290 · management and general $12,290
-
11g · Fees: other
total $3,724 · program services $2,714 · management and general $285 · fundraising $725
-
12 · Advertising and promotion
total $402 · program services $183 · fundraising $219
-
13 · Office expenses
total $1,362 · program services $1,091 · management and general $135 · fundraising $136
-
14 · Information technology
total $21,214 · program services $18,032 · fundraising $3,182
-
17 · Travel
total $21,131 · program services $14,951 · fundraising $6,180
-
20 · Interest
total $1,453 · management and general $1,453
-
22 · Depreciation, depletion and amortization
total $627 · management and general $627
-
23 · Insurance
total $6,054 · program services $5,146 · management and general $303 · fundraising $605
-
24a · Other expenses: PROGRAM EXPENSES
total $17,728 · program services $17,728 · management and general $0 · fundraising $0
-
24b · Other expenses: DUES AND SUBSCRIPTIONS
total $5,894 · program services $705 · management and general $2,178 · fundraising $3,011
-
24c · Other expenses: BANK CHARGES AND PROCESSING FEES
total $1,035 · program services $0 · management and general $1,035 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $44,474 · end of year $21,023
-
9 · Prepaid expenses and deferred charges
end of year $380
-
10a · Land, buildings and equipment: cost or other basis
$3,525
-
10b · Land, buildings and equipment: accumulated depreciation
$627
-
10c · Land, buildings and equipment, net
end of year $2,898
-
17 · Accounts payable and accrued expenses
end of year $3,176
-
24 · Unsecured notes and loans payable
end of year $56,609
-
25 · Other liabilities
beginning of year $58,883
-
27 · Net assets without donor restrictions
beginning of year -$14,409 · end of year -$74,330
-
28 · Net assets with donor restrictions
beginning of year $0 · end of year $38,846
Mission and programs · 2023
Mission
DRIVING INNOVATION, GROWTH, AND HUMAN DEVELOPMENT THROUGH KNOWLEDGE EXCHANGE AND CROSS-CULTURAL COLLABORATION.
-
BULGARIA INNOVATION HUB-ACCELERATOR PROGRAM - OVER THE PAST YEAR, BIH HAS SUCCESSFULLY COMPLETED TWO ACCELERATOR PROGRAMS-ONE IN THE SPRING OF 2023, AND ONE IN THE FALL, BOTH HELD IN A HYBRID FORMAT, VIRTUAL (VIA ZOOM) AND IN-PERSON IN SAN FRANCISCO FOR THE LAST WEEK OF THE PROGRAM. THE PROGRAM PROVIDED ENTREPRENEURIAL AND BUSINESS EDUCATION TO 10 COMPANIES AND OVER 40 ENTREPRENEURS. THE PROGRAM'S IMPACT CONTRIBUTED TO THE CREATION OF 300+ NEW JOBS ACROSS BULGARIA, SOUTHEASTERN EUROPE, AND THE UNITED STATES. WE EXPANDED OUR GLOBAL MENTOR NETWORK BY RECRUITING MORE THAN 45 NEW MENTORS, EACH BRINGING EXTENSIVE ENTREPRENEURIAL AND INDUSTRY EXPERTISE TO SUPPORT FOUNDERS. ADDITIONALLY, BIH HOSTED EDUCATIONAL AND NETWORKING EVENTS IN BOTH BULGARIA AND THE US, FOSTERING KNOWLEDGE EXCHANGE AND STRENGTHENING CROSS-CULTURAL COLLABORATION BETWEEN THE US AND SOUTHEASTERN EUROPEAN ENTREPRENEURIAL ECOSYSTEMS. THE PROGRAM CONTINUES TO BRIDGE THE KNOWLEDGE AND NETWORK GAP BETWEEN BULGARIA, CEE AND SILICON VALLEY, POSITIONING THE REGION AS A PROMISING TECHNOLOGY AND INNOVATION HUB FOR US INVESTORS AND PARTNERS.
Expenses $81,442 · Revenue $54,691
-
OUTREACH AND EDUCATION - BIH ORGANIZATION'S CORE PROGRAM PROVIDES IMPACTFUL EDUCATION AND OUTREACH TO EMPOWER HIGH-IMPACT ENTREPRENEURS TO BECOME GLOBAL LEADERS WHO CREATE SOCIAL AND ECONOMIC IMPACT IN BULGARIA, CEE, AND BEYOND. EDUCATIONAL ACTIVITIES INCLUDE WORKSHOPS, TRAINING SESSIONS, AND EVENTS TO BUILD ESSENTIAL SKILLS, WITH EXPENSES COVERING VENUE RENTAL, CATERING, MATERIALS, AND VIDEO PRODUCTION FOR PROGRAM CURRICULUM. THESE RESOURCES CREATE ACCESSIBLE LEARNING OPPORTUNITIES FOR OUR PARTICIPANTS. OUR OUTREACH STRATEGY LEVERAGES SOCIAL MEDIA, NEWSLETTERS, AND CONTENT MANAGEMENT PARTNERSHIPS TO EXPAND OUR REACH AND ENGAGE OUR COMMUNITY. COLLABORATIONS LIKE RECURSIVE SUPPORT CONSISTENT COMMUNICATION AND BROADER IMPACT. THESE OUTREACH AND EDUCATION INITIATIVES ARE CRUCIAL IN FULFILLING OUR MISSION AND DRIVING POSITIVE OUTCOMES IN OUR COMMUNITY.
Expenses $122,162
As filed on the 2023 return.
Listed in Part VII
-
Pavlina YanakievaPAVLINA YANAKIEVA
EXECUTIVE DIRECTOR
- Total calculated
- $151,350
- From this org
- $151,350
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $150,000
- Bonus
- $0
- Other
- $1,350
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $151,350
-
Bogomil BalkanskyBOGOMIL BALKANSKY
PRESIDENT
- Total calculated
- $0
- Hours/week
- 3
-
Vassil TerzievVASSIL TERZIEV
SECRETARY
- Total calculated
- $0
- Hours/week
- 3
-
Ivan DimovIVAN DIMOV
TREASURER
- Total calculated
- $0
- Hours/week
- 3
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 · Written employment contract
- 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
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.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 15 November 2024
- IRS schema version
- 2023v5.0
- Source object
- 202423209349322977
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