ALBANIAN-AMERICAN ENTERPRISE FUND

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1995

Legal Domicile

Principal Officer

MARTIN MATA

Phone

3474468138

Tax Period

2021-10-01 to 2022-09-30

ALBANIAN-AMERICAN ENTERPRISE FUND, founded in 1995, is a community nonprofit that reported $6.6M in total revenue in fiscal year 2021. Revenue decreased 11% compared to the prior year. The organization ran a surplus of $6.5M, a strong 98% operating margin.

Mission

THE ALBANIAN-AMERICAN ENTERPRISE FUND (AAEF OR THE FUND) IS A PRIVATE INVESTMENT FUND ESTABLISHED TO ASSIST ALBANIA IN ITS TRANSITION TO A MARKET ECONOMY. TO ACCOMPLISH THIS, THE AAEF WILL INVEST IN A WIDE ARRAY OF PRIVATE ENTERPRISES, DISSEMINATE WESTERN BUSINESS KNOW-HOW, AND WHEN APPROPRIATE, PROPOSE CHANGES TO GOVERNMENT POLICIES AFFECTING BUSINESS. MOREOVER, IT IS THE FUNDS INTENT TO DEMONSTRATE TO OTHER POTENTIAL INVESTORS THAT INVESTMENT IN ALBANIA CAN BE SUCCESSFUL AND PROFITABLE. THE FUND STRIVES TO BE A CATALYST FOR ADDITIONAL PRIVATE INVESTMENT IN ALBANIA.AAEF IS A NONSTOCK NONPROFIT CORPORATION ESTABLISHED PURSUANT TO THE SUPPORT FOR EAST EUROPEAN DEMOCRACY ACT OF 1989 FOR THE PRIMARY PURPOSE OF PROMOTING THE PRIVATE SECTOR DEVELOPMENT IN ALBANIA AND POLICIES AND PRACTICES CONDUCTIVE TO SUCH DEVELOPMENT. THE FUND IS CAPITALIZED BY A GRANT AGREEMENT WITH THE US AGENCY FOR INTERNATIONAL DEVELOPMENT (USAID).

Program Service Accomplishments

Program 1

Expenses: $141,369 Revenue: $4,898,248

DEVELOPMENT OF PRIVATE SECTOR OF COUNTRY OF ALBANIA; THROUGH LOANS-GRANTS-EQUITY INVESTMENTS-FEASIBILITY STUDIES- TECHNICAL ASSISTANCE-TRAINING-INSURANCE-AND OTHER

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2021)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $4,898,248

Investment Income $1,740,737

Other Revenue $0

TOTAL REVENUE $6,638,985

Expense Breakdown

Grants Paid $0

Salaries & Benefits $21,176

Fundraising Expenses $0

Program Expenses $141,369

Other Expenses $120,193

TOTAL EXPENSES $141,369

Year-over-Year Comparison

	2021	2020	Change
Revenue	$6,638,985	$7,453,961	-0.1%
Expenses	$141,369	$105,181	+0.3%
Net Income	$6,497,616	$7,348,780	-0.1%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

N/A

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$479,810

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL D GRANOFF	CHAIRMAN	2.00	Director	$0	$0	$0
DIANNE BLANE	BOARD MEMBER	2.00	Director	$0	$0	$0
ALEKSANDER SARAPULI	CO-CEO	4.00	Officer	$7,562	$17,920	$169,160
MARTIN MATA	CO-CEO	4.00	Officer	$7,562	$17,920	$169,160
FLORIDA QELLO	SECRETARY	4.00	Officer	$0	$10,212	$141,490

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2022	$6,638,985	$141,369	$82,761,194	$6,497,616
2021	$7,453,961	$105,181	$95,067,525	$7,348,780
2020	$6,874,966	$116,634	$79,161,091	$6,758,332
2019	$3,729,516	$5,161,701	$70,207,697	$-1,432,185
2018	$3,323,231	$232,602	$69,208,409	$3,090,629