AMERICAN FOREIGN SERVICE ASSOCIATI… - 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

1972

Legal Domicile

Principal Officer

ASGEIR SIGFUSSON

Phone

2023384045

Tax Period

2023-01-01 to 2023-12-31

AMERICAN FOREIGN SERVICE ASSOCIATION SCHOLARSHIP FUND, founded in 1972, is a community nonprofit in the Education sector that reported $2.6M in total revenue in fiscal year 2023. Revenue surged 378% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.9M, a strong 75% operating margin.

Mission

THE AFSA SCHOLARSHIP PROGRAM PROVIDES TO CHILDREN OF FOREIGN SERVICE EMPLOYEES WHO ARE AFSA MEMBERS: NEED-BASED, FINANCIAL AID SCHOLARSHIPS (FOR UNDERGRADUATE STUDY) AND ONE-TIME ONLY ACADEMIC AND ART MERIT SCHOLARSHIPS (FOR HIGH SCHOOL SENIORS).

Program Service Accomplishments

Program 1

Expenses: $460,931

SCHOLARSHIPS: THE AFSA SCHOLARSHIP PROGRAM OFFERS COLLEGE AID TO CHILDREN OF AFSA MEMBERS WHOS PARENTS ARE/WERE FOREIGN SERVICE EMPLOYEES. WE PROVIDE FINANCIAL AID SCHOLARSHIPS TO UNDERGRADUATES AND ACADEMIC MERIT AWARDS, ART MERIT AWARDS, AND A COMMUNITY SERVICE AWARD TO GRADUATING HIGH SCHOOL SENIORS. THE ABOVE ACTIVITIES COULD NOT HAPPEN WITHOUT THE GENEROUS BEQUESTS AND DONATIONS FROM THOSE IN THE FOREIGN SERVICE COMMUNITY. NO AFSA MEMBERSHIP DUES ARE USED IN THE AFSA SCHOLARSHIP PROGRAM. THIS ROBUST AFSA MEMBER BENEFIT HAS DISBURSED MORE THAN $4.9 MILLION TO 2,500 STUDENTS IN THE LAST 29 YEARS.

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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 $85,416

Program Service Revenue $0

Investment Income $2,492,495

Other Revenue $0

TOTAL REVENUE $2,577,911

Expense Breakdown

Grants Paid $403,500

Salaries & Benefits $150,838

Fundraising Expenses $0

Program Expenses $460,931

Other Expenses $88,708

TOTAL EXPENSES $643,046

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,577,911	$539,061	+3.8%
Expenses	$643,046	$582,417	+0.1%
Net Income	$1,934,865	$-43,356	-45.6%

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

$439,687

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ASEGIR SIGFUSSON	EXECUTIVE DIRECTOR	5.00	Officer	$0	$37,499	$268,193
FEMI OSHOBUKOLA	DIRECTOR OF FINANCE	5.00	Officer	$0	$8,910	$171,494
THOMAS YAZDGERDI	PRESIDENT	10.00	Officer Director	$0	$0	$0
TINA WONG	STATE VICE PRESIDENT	10.00	Officer Director	$0	$0	$0
RANDY CHESTER	USAID VICE PRESIDENT	10.00	Officer Director	$0	$0	$0
JOSHUA BURKE	FCS VICE PRESIDENT	10.00	Officer Director	$0	$0	$0
LISA AHRAMJIAN	FAC VICE PRESIDENT	5.00	Officer Director	$0	$0	$0
JOHN NALAND	RETIREE VICE PRESIDENT	0.50	Officer Director	$0	$0	$0
SUE SAARNIO	SECRETARY	0.50	Officer Director	$0	$0	$0
JOHN O'KEEFE	TREASURER	0.50	Officer Director	$0	$0	$0
EDWARD STAFFORD	RETIREE REPRESENTATIVE	0.50	Director	$0	$0	$0
MARY DALY	RETIREE REPRESENTATIVE	0.50	Director	$0	$0	$0
STEVE HERMAN	USAGM REPRESENTATIVE	0.50	Director	$0	$0	$0
CHRISTOPHER SAENGER	USAID REPRESENTATIVE	0.50	Director	$0	$0	$0
JOE RAGPLE	APHIS REPRESENTATIVE	0.50	Director	$0	$0	$0
ZEKE SPEARS	FAS REPRESENTATIVE	0.50	Director	$0	$0	$0
JAY CARREIRO	FCS REPRESENTATIVE	0.50	Director	$0	$0	$0
KIMBERLY HARRINGTON	STATE REPRESENTATIVE	0.50	Director	$0	$0	$0
LYNTTE BEHNKE	STATE REPRESENTATIVE	0.50	Director	$0	$0	$0
C LOGAN WHEELER	STATE REPRESENTATIVE	0.50	Director	$0	$0	$0
WHIYNEY WIEDMAN	STATE REPRESENTATIVE	0.50	Director	$0	$0	$0
DAVID JOSAR	STATE REPRESENTATIVE	0.50	Director	$0	$0	$0
GREG FLOYD	STATE REPRESENTATIVE	0.50	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	$2,577,911	$643,046	$17,159,511	$1,934,865
2022	$539,061	$582,417	$15,575,557	$-43,356
2021	$976,935	$616,078	$14,112,327	$360,857
2020	$644,664	$527,600	$12,825,853	$117,064
2019	$651,681	$558,000	$11,715,491	$93,681
2018	$1,255,431	$490,289	$10,099,149	$765,142

AMERICAN FOREIGN SERVICE ASSOCIATION SCHOLARSHIP FUND