TURKISH AMERICAN CULTURAL ASSOC OF… - 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

1976

Legal Domicile

Principal Officer

SINAN INGEC

Phone

2063398222

Tax Period

2023-01-01 to 2023-12-31

TURKISH AMERICAN CULTURAL ASSOC OF WA, founded in 1976, is a small nonprofit in the Arts, Culture & Humanities sector that reported $340K in total revenue in fiscal year 2023. Revenue surged 120% from the prior year, signaling strong growth momentum.

Mission

PROMOTE TURKISH CULTURE, ART HERITAGE AND TO SPONSOR POSITIVE RELATIONSHIPS BETWEEN VARIOUS TURKISH AND LOCAL COMMUNITES

Program Service Accomplishments

Program 1

Expenses: $35,131

HELD TURKFEST, A CHILDREN'S FESTIVAL TO PROMOTE AND EDUCATE TURKISH AMERICANS IN THE PACIFIC NORTHWEST. IT FEATURES A VARIETY OF TRADITIONAL AND CONTEMPORARY PERFORMANCES, ART AND TEXTILE...

HELD TURKFEST, A CHILDREN'S FESTIVAL TO PROMOTE AND EDUCATE TURKISH AMERICANS IN THE PACIFIC NORTHWEST. IT FEATURES A VARIETY OF TRADITIONAL AND CONTEMPORARY PERFORMANCES, ART AND TEXTILE EXHIBITIONS, FILMS, CHILDREN/YOUTH ACTIVITIES, CUISINE, AND WORKSHOPS.

Program 2

Expenses: $31,542

HELD SEATTLE TURKISH FILM FESTIVAL TO PROVIDE AN INTERNATIONAL PLATFORM FOR TALENTED TURKISH FILMMAKERS TO SHOWCASE THEIR WORK IN SEATTLE

Program 3

Expenses: $20,889

HELD INTERNATIONAL CHILDREN'S FRIENDSHIP FESTIVAL TO FOSTER CULTURAL EXCHANGE AND FRIENDSHIP. THE EVENT IS RUN BY CHILDREN AND FEATURES PERFORMANCES BY CHILDREN, WITH VARIOUS NATIONALITIES...

HELD INTERNATIONAL CHILDREN'S FRIENDSHIP FESTIVAL TO FOSTER CULTURAL EXCHANGE AND FRIENDSHIP. THE EVENT IS RUN BY CHILDREN AND FEATURES PERFORMANCES BY CHILDREN, WITH VARIOUS NATIONALITIES REPRESENTED THROUGH MUSIC, FOLK DANCING, AND ART.

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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 $165,347

Program Service Revenue $175,021

Investment Income $2

Other Revenue $0

TOTAL REVENUE $340,370

Expense Breakdown

Grants Paid $92,610

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $87,562

Other Expenses $250,200

TOTAL EXPENSES $342,810

Year-over-Year Comparison

	2023	2022	Change
Revenue	$340,370	$154,446	+1.2%
Expenses	$342,810	$138,945	+1.5%
Net Income	$-2,440	$15,501	-1.2%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SINAN INGEC	PRESIDENT	10.00	Officer	$0	$0	$0
BILGE OZHAN	VICE PRESIDENT	5.00	Officer	$0	$0	$0
PELIN MUHARREMOGLU	SECRETARY	5.00	Officer	$0	$0	$0
CANSU GURLER	SOCIAL CHAIRPERSON	5.00	Officer	$0	$0	$0
BATUHAN BIYIKOGLU	TREASURER	5.00	Officer	$0	$0	$0
OZGUR KOC	SUBSTITUTE DIRECTOR	5.00	Director	$0	$0	$0
ONUR BAYSAN	SUBSTITUTE DIRECTOR	5.00	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	$340,370	$342,810	$97,040	$-2,440
2020	$59,138	$38,336	$80,766	$20,802
2019	$98,474	$101,750	$60,149	$-3,276
2018	$99,293	$101,003	$57,531	$-1,710

TURKISH AMERICAN CULTURAL ASSOC OF WA