DAUGAVAS VANAGI LATVIAN WELFARE AS… - 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

1956

Legal Domicile

Principal Officer

JOHN KANCANS

Phone

7189338167

Tax Period

2023-01-01 to 2023-12-31

DAUGAVAS VANAGI LATVIAN WELFARE ASSOCIATION INC, founded in 1956, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $99K in total revenue in fiscal year 2023. Revenue surged 31% from the prior year, signaling strong growth momentum. Expenses of $90K left a modest 9% surplus.

Mission

PROMOTE, MAINTAIN, AND FOSTER THE PRESERVATION OF LATVIAN CULTURE, LANGUAGE, EDUCATION, AND WELFARE

Program Service Accomplishments

Program 1

Expenses: $16,174 Revenue: $64,390

THE ORGANIZATION GAVE SCHOLARSHIPS TO AMERICAN YOUTHS OF LATVIAN DESCENT FROM NYC METRO AREA ATTENDING NON-PROFIT LATVIAN SUMMER CAMPS IN THE U.S. ORGANIZED CULTURAL AND SOCIAL EVENTS IN THE NYC...

THE ORGANIZATION GAVE SCHOLARSHIPS TO AMERICAN YOUTHS OF LATVIAN DESCENT FROM NYC METRO AREA ATTENDING NON-PROFIT LATVIAN SUMMER CAMPS IN THE U.S. ORGANIZED CULTURAL AND SOCIAL EVENTS IN THE NYC METRO AREA TO PROMOTE LATVIAN CULTURE, LANGUAGE, AND EDUCATION.

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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 $3,992

Program Service Revenue $64,390

Investment Income $23,813

Other Revenue $7,096

TOTAL REVENUE $99,291

Expense Breakdown

Grants Paid $8,726

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $16,174

Other Expenses $81,721

TOTAL EXPENSES $90,447

Year-over-Year Comparison

	2023	2022	Change
Revenue	$99,291	$75,987	+0.3%
Expenses	$90,447	$88,227	+0.0%
Net Income	$8,844	$-12,240	-1.7%

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
JOHN KANCANS	PRESIDENT	4.00	Officer	$0	$0	$0
VALDA RAINEY	VICE PRESIDE	4.00	Officer	$0	$0	$0
ANITA SILINA	SECRETARY	1.00	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	$99,291	$90,447	$1,163,738	$8,844
2022	$75,987	$79,484	$1,127,187	$-3,497
2021	$150,508	$124,454	$1,237,156	$26,054
2020	$63,779	$68,424	$1,207,071	$-4,645
2019	$115,586	$94,446	$1,214,266	$21,140

DAUGAVAS VANAGI LATVIAN WELFARE ASSOCIATION INC