American Foundation for Bulgaria I… - Form 990 Financial Data

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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

2003

Legal Domicile

Principal Officer

Theodore Vassilev

Phone

2128421228

Tax Period

2023-01-01 to 2023-12-31

American Foundation for Bulgaria Inc, founded in 2003, is a small nonprofit in the Education sector that reported $726K in total revenue in fiscal year 2023. Revenue surged 31% from the prior year, signaling strong growth momentum. Net assets of $1.9M represent 31 months of operating reserves.

Mission

Promote a broader understanding of Bulgaria by Americans.

Program Service Accomplishments

Program 1

Expenses: $745,776 Revenue: $295,662

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.

Program 2

Expenses: $0 Revenue: $0

To sponsor reseach and educational and cultural projects in both Bulgaria and the USA.

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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 $364,439

Program Service Revenue $0

Investment Income $393,172

Other Revenue $-31,757

TOTAL REVENUE $725,854

Expense Breakdown

Grants Paid $505,147

Salaries & Benefits $70,633

Fundraising Expenses $0

Program Expenses $745,776

Other Expenses $217,309

TOTAL EXPENSES $793,089

Year-over-Year Comparison

	2023	2022	Change
Revenue	$725,854	$554,771	+0.3%
Expenses	$793,089	$642,063	+0.2%
Net Income	$-67,235	$-87,292	-0.2%

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

N/A

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

Total Directors

$35,134

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Theodore Vassilev	Executive Director	4.00	Officer Director Key Emp	$0	$0	$0
Peter Boyvalenkov	Director	1.00	Director	$0	$0	$0
Alexey Hristov	Director	4.00	Director	$35,134	$0	$35,134
Kathleen T Bailey	Director	1.00	Director	$0	$0	$0
Elena Poptodorova	Director	1.00	Director	$0	$0	$0
Svetoslav Ovcharov	Director	1.00	Director	$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	$725,854	$793,089	$1,870,325	$-67,235
2022	$554,771	$642,063	$1,937,563	$-87,292
2021	$561,109	$665,173	$2,024,857	$-104,064
2020	$527,100	$591,055	$2,128,921	$-63,955
2019	$637,370	$828,856	$2,192,876	$-191,486
2018	$852,067	$905,306	$2,384,363	$-53,239

American Foundation for Bulgaria Inc