SOFIA AMERICAN SCHOOLS INC

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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

1926

Legal Domicile

Principal Officer

Theodora Konetsovska

Phone

2129447733

Tax Period

2023-01-01 to 2023-12-31

SOFIA AMERICAN SCHOOLS INC, founded in 1926, is a mid-sized nonprofit in the International Affairs sector that reported $10.5M in total revenue in fiscal year 2023. Revenue grew 14% year-over-year, indicating healthy expansion. Expenses of $9.9M left a modest 6% surplus.

Mission

THE ORGANIZATION WAS CREATED FOR THE SOLE PURPOSE OF PROVIDING EDUCATION FOR BULGARIAN YOUTHS.

Program Service Accomplishments

Program 1

Expenses: $8,910,951 Revenue: $7,739,996

THE ORGANIZATION OPERATES THE AMERICAN COLLEGE OF SOFIA, AN INDEPENDENT, HIGHLY SELECTIVE, CO-EDUCATIONAL NOT-FOR-PROFIT SECONDARY SCHOOL IN BULGARIA. WITH ENGLISH AS THE PRIMARY LANGUAGE OF...

THE ORGANIZATION OPERATES THE AMERICAN COLLEGE OF SOFIA, AN INDEPENDENT, HIGHLY SELECTIVE, CO-EDUCATIONAL NOT-FOR-PROFIT SECONDARY SCHOOL IN BULGARIA. WITH ENGLISH AS THE PRIMARY LANGUAGE OF INSTRUCTION, THE COLLEGE OFFERS A RIGOROUS CORE CURRICULUM ENRICHED BY AN ARRAY OF ELECTIVE COURSES AND EXTRA-CURRICULAR ACTIVITIES. WHILE THE COLLEGE'S PRIMARY MISSION IS TO EDUCATE BULGARIAN YOUTH, IT EMBRACES QUALIFIED STUDENTS OF ALL NATIONALITIES, RACES, AND FAITHS IN BELIEF THAT A WIDE VARIETY OF STUDENTS WILL ENRICH EDUCATIONAL OPPORTUNITIES FOR ALL. THE COLLEGE INTEGRATES THE VALUES AND BEST PRACTICES OF AMERCAN PEDAGOGY WITH THE RICH EDUCATIONAL TRADITIONS OF BULGARIA AND EUROPE. IT ASPIRES TO PREPARE STUDENTS TO MEET THE MOST DEMANDING CRITERIA OF ANY UNIVERSITY IN THE WORLD. THE COLLEGE ENABLES STUDENTS TO DEVELOP CRITICAL THINKING SKILLS, PARTICIPATE IN RESPECTFUL EXCHANGES OF DIVERSE OPINIONS, AND BECOME ENTHUSIASTIC LIFELONG LEARNERS. IN SO DOING, STUDENTS WILL LEARN TO DEMONSTRATE SENSITIVITY TO THE GLOBAL HUMAN CONDITION AND THE ENVIRONMENT, CHERISH DEMOCRATIC VALUES, AND BECOME RESPONSIBLE CITIZENS AND LEADERS.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,333,675

Program Service Revenue $9,095,029

Investment Income $108,415

Other Revenue $0

TOTAL REVENUE $10,537,119

Expense Breakdown

Grants Paid $1,355,033

Salaries & Benefits $6,157,803

Fundraising Expenses $0

Program Expenses $8,910,951

Other Expenses $2,428,168

TOTAL EXPENSES $9,941,004

Year-over-Year Comparison

	2023	2022	Change
Revenue	$10,537,119	$9,243,375	+0.1%
Expenses	$9,941,004	$9,235,467	+0.1%
Net Income	$596,115	$7,908	+74.4%

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

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

$274,855

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
EMILY SARGENT-BEASLEY	President	40.00	Officer	$183,449	$91,406	$274,855
RICHARD EWING	N/A	0.00		$30,000	$10,468	$40,468
CHRIS DELL	Trustee	1.00	Director	$0	$0	$0
Avis Bohlen	Trustee	1.00	Director	$0	$0	$0
BORISLAV STEFANOV	Trustee	1.00	Director	$0	$0	$0
BORIS STATEV	Trustee	1.00	Director	$0	$0	$0
FRANK BAUER	Trustee	1.00	Director	$0	$0	$0
Joel Studebaker	Trustee	1.00	Director	$0	$0	$0
Karen Collias	Trustee	1.00	Director	$0	$0	$0
Katherine Georgiev	Treasurer	10.00	Officer Director	$0	$0	$0
Marcie Ries	Trustee	1.00	Director	$0	$0	$0
Nedko Kyuchukov	Trustee	1.00	Director	$0	$0	$0
Nellie Gipson	Trustee	1.00	Director	$0	$0	$0
Roger Whitaker	Trustee	1.00	Director	$0	$0	$0
Sam Seymour	VICE CHAIR	10.00	Director	$0	$0	$0
Tom Marshall	Trustee	1.00	Director	$0	$0	$0
Trayan Trayanov	Trustee	1.00	Director	$0	$0	$0
Valentin Georgiev	Trustee	1.00	Director	$0	$0	$0
Theodora Konetsovska	Chairman	10.00	Officer	$0	$0	$0
WILLIAM WILLIAMS	Trustee	1.00	Officer	$0	$0	$0
Dave Wilson	Secretary	2.00	Officer	$0	$0	$0

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
2024	No data	No data	No data	No data
2023	$10,537,119	$9,941,004	$19,687,568	$596,115
2022	$9,243,375	$9,235,467	$19,078,825	$7,908
2021	$8,581,010	$8,728,783	$18,766,081	$-147,773
2020	$7,977,956	$8,144,533	$18,597,085	$-166,577
2019	$7,480,694	$7,908,451	$18,923,068	$-427,757
2018	$13,437,989	$7,771,405	$19,035,433	$5,666,584