Form 990 for tax year 2023
Filed by AMERICAN FOUNDATION FOR BULGARIA INC.
Totals
- Total revenue
- $725,854
- Total expenses
- $793,089
- Contributions and grants received
- $364,439
- Grants paid
- $505,147
- Program service revenue
- $0
- Investment income
- $393,172
- Other revenue
- -$31,757
- Total assets, end of year
- $1,870,325
- Total liabilities, end of year
- $7,315
- Net assets or fund balances, end of year
- $1,863,010
- Program services expenses (Part IX)
- $745,776
- Management and general expenses
- $47,313
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $745,776
Program services were 94.0% 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.
-
1e · Government grants (contributions)
$41,266
-
1f · All other contributions, gifts and grants
$323,173
-
1g · Noncash contributions included above
$27,378
-
3 · Investment income
total $26,864 · unrelated business $0 · excluded $0
-
7a · Gross sales of assets other than inventory
securities $525,000
-
7b · Less cost or other basis and sales expenses
securities $158,692
-
7c · Gain or loss
securities $366,308
-
7d · Net gain or loss
total $366,308 · related or exempt $0 · unrelated business $0 · excluded $366,308
-
8a · Fundraising events: gross income
$59,702
-
8b · Fundraising events: direct expenses
$91,459
-
8c · Net income from fundraising events
total -$31,757 · unrelated business $0 · excluded -$31,757
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $47,043 · program services $47,043
-
3 · Grants to foreign organizations and individuals
total $458,104 · program services $458,104
-
5 · Compensation of officers, directors and key employees
total $35,134 · program services $35,134 · management and general $0 · fundraising $0
-
7 · Other salaries and wages
total $17,370 · program services $17,370 · management and general $0 · fundraising $0
-
10 · Payroll taxes
total $18,129 · program services $18,129 · management and general $0 · fundraising $0
-
11c · Fees: accounting
total $22,550 · program services $0 · management and general $22,550 · fundraising $0
-
13 · Office expenses
total $13,727 · program services $0 · management and general $13,727 · fundraising $0
-
16 · Occupancy
total $46,995 · program services $46,995 · management and general $0 · fundraising $0
-
17 · Travel
total $8,645 · program services $8,645 · management and general $0 · fundraising $0
-
22 · Depreciation, depletion and amortization
total $2,188 · program services $0 · management and general $2,188 · fundraising $0
-
23 · Insurance
total $2,467 · program services $0 · management and general $2,467 · fundraising $0
-
24a · Other expenses: BANK CHARGES
total $1,034 · program services $0 · management and general $1,034 · fundraising $0
-
24b · Other expenses: CONSULTING
total $105,517 · program services $105,517 · management and general $0 · fundraising $0
-
24c · Other expenses: PRINTING
total $1,692 · program services $0 · management and general $1,692 · fundraising $0
-
24d · Other expenses: EQUIPMENT NON-CAPITAL
total $750 · program services $0 · management and general $750 · fundraising $0
-
24e · All other expenses
total $11,744 · program services $8,839 · management and general $2,905 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $45,784 · end of year $111,813
-
6 · Loans and receivables from disqualified persons
end of year $750
-
10a · Land, buildings and equipment: cost or other basis
$53,557
-
10b · Land, buildings and equipment: accumulated depreciation
$31,330
-
10c · Land, buildings and equipment, net
beginning of year $24,415 · end of year $22,227
-
11 · Investments: publicly traded securities
beginning of year $607,350 · end of year $475,521
-
15 · Other assets
beginning of year $1,260,014 · end of year $1,260,014
-
17 · Accounts payable and accrued expenses
beginning of year $4,815 · end of year $4,815
-
22 · Loans and payables to officers and key people
beginning of year $2,500 · end of year $2,500
-
27 · Net assets without donor restrictions
beginning of year $1,930,248 · end of year $1,863,010
Mission and programs · 2023
Mission
Promote a broader understanding of Bulgaria by Americans.
-
To sponsor and organize conferences, seminars in the field of sciences, arts and culture as well as facilitate exchange between Bulgaria and the USA in the above.
Expenses $745,776 · Grants $505,147 · Revenue $295,662
-
To sponsor reseach and educational and cultural projects in both Bulgaria and the USA.
As filed on the 2023 return.
Listed in Part VII
-
Theodore Vassilev
Executive Director
- Total calculated
- $0
- Hours/week
- 4
-
Peter Boyvalenkov
Director
- Total calculated
- $0
- Hours/week
- 1
-
Alexey Hristov
Director
- Total calculated
- $35,134
- From this org
- $35,134
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
-
Kathleen T Bailey
Director
- Total calculated
- $0
- Hours/week
- 1
-
Elena Poptodorova
Director
- Total calculated
- $0
- Hours/week
- 1
-
Svetoslav Ovcharov
Director
- Total calculated
- $0
- Hours/week
- 1
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.
Grants on this return
-
EDUCATIONAL
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 2 May 2024
- IRS schema version
- 2023v5.1
- Source object
- 202433199349310733
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