Latvian Foundation 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

1970

Legal Domicile

Principal Officer

Renate Kenney

Tax Period

2025-01-01 to 2025-12-31

Latvian Foundation Inc, founded in 1970, is a small nonprofit in the Arts, Culture & Humanities sector that reported $107K in total revenue in fiscal year 2025. Revenue grew 19% year-over-year, indicating healthy expansion. The organization ran a surplus of $30K, a strong 28% operating margin.

Mission

Preservation of Latvian Culture: to maintain and perpetuate Latvian culture and ethnic traditions; to sponsor research on Latvian history; to support cultural and educational events; to sponsor literary works

Program Service Accomplishments

Program 1

Expenses: $31,233

Maintain and perpetuate Latvian culture and ethnic traditions via support of traditional and contemporary music, folk songs and ethnic cultural artifacts including folk costume design and origin.

Program 2

Expenses: $21,900

Research and education undertakings of Latvian social history, modern day history and diaspora documentaries.

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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 (2025)

Revenue Breakdown

Contributions & Grants $37,190

Program Service Revenue $0

Investment Income $67,950

Other Revenue $1,527

TOTAL REVENUE $106,667

Expense Breakdown

Grants Paid $53,133

Salaries & Benefits $0

Fundraising Expenses $2,000

Program Expenses $53,133

Other Expenses $23,722

TOTAL EXPENSES $76,855

Year-over-Year Comparison

	2025	2024	Change
Revenue	$106,667	$89,377	+0.2%
Expenses	$76,855	$68,906	+0.1%
Net Income	$29,812	$20,471	+0.5%

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

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
RENATE KENNEY	President	20.00	Director	$0	$0	$0
RITA GRENDZE	Secretary	8.00	Director	$0	$0	$0
KATRINA PIPASTS	Treasurer	8.00	Director	$0	$0	$0
JANA ANCA-TETERE	Board Member	8.00	Director	$0	$0	$0
LINDA BYRON	Audit Committee	1.00	Director	$0	$0	$0
ANNA GLASS	Board Member	8.00	Director	$0	$0	$0
NORA STEELE	Vice President	8.00	Director	$0	$0	$0
IEVA DEXTER	Audit Committee	1.00	Director	$0	$0	$0
ELIZABETE LUDVIKS	Grant Manager	8.00	Director	$0	$0	$0
INDRA LACIS	Audit Committee	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
2025	$106,667	$76,855	$1,749,111	$29,812
2024	No data	No data	No data	No data
2023	$242,063	$65,501	$1,372,966	$176,562
2022	$139,529	$82,269	$1,202,190	$57,260
2021	$146,665	$76,245	$1,497,853	$70,420
2020	$381,403	$82,788	$1,251,603	$298,615