MACEDONIA 2025

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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

2007

Legal Domicile

Principal Officer

MITRE KUTANOVSKI

Phone

2193101410

Tax Period

2019-01-01 to 2019-12-31

MACEDONIA 2025, founded in 2007, is a small nonprofit in the International Affairs sector that reported $152K in total revenue in fiscal year 2019. Revenue surged 33% from the prior year, signaling strong growth momentum. Expenses of $233K exceeded revenue, resulting in a 53% operating deficit.

Mission

STIMULATE ECONOMIC DEVELOPMENT IN AND BETWEEN MACEDONIA AND THE UNITED STATES THROUGH OUTREACH SUMMITS AND COMMUNITY OUTREACH

Program Service Accomplishments

Program 1

Expenses: $220,640 Revenue: $141,109

TO STIMULATE ECONOMIC DEVELOPMENT. HAVING MEETINGS AND SEMINARS IN THE UNITED STATES AND MACEDONIA - PROFESSIONALS PROMOTE BUSINES DEVELOPMENT - 10 PROFESSIONALS

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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 (2019)

Revenue Breakdown

Contributions & Grants $141,859

Program Service Revenue $0

Investment Income $10,408

Other Revenue $0

TOTAL REVENUE $152,267

Expense Breakdown

Grants Paid $220,640

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $220,640

Other Expenses $11,950

TOTAL EXPENSES $232,590

Year-over-Year Comparison

	2019	2018	Change
Revenue	$152,267	$114,573	+0.3%
Expenses	$232,590	$206,548	+0.1%
Net Income	$-80,323	$-91,975	-0.1%

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
ROBERT ARSOV	CHAIRMAN	1.00	Officer Director	$0	$0	$0
MITRE KUTANOVSKI	TREASURER	1.00	Officer Director	$0	$0	$0
MIKE ZAFIROVSKI	BOARD MEMBER	1.00	Director	$0	$0	$0
CHRIS PAVLOVSKI	BOARD MEMBER	1.00	Director	$0	$0	$0
JIM NIKOPOULOS	BOARD MEMBER	1.00	Director	$0	$0	$0
ZHIVKO MUKAETOV	BOARD MEMBER	1.00	Director	$0	$0	$0
VERA STAVROFF	VICE CHAIR WOMAN - BOARD MEMBER	1.00	Officer Director	$0	$0	$0
JOHN BITOV JR	BOARD MEMBER	1.00	Director	$0	$0	$0
ZORAN MARTINOVSKI	BOARD MEMBER	1.00	Director	$0	$0	$0
PETER SIMEON	BOARD MEMBER	1.00	Director	$0	$0	$0
ROBERT STEVANOVSKI	BOARD MEMBER	1.00	Director	$0	$0	$0
NEVENKA DIMITROVA	BOARD MEMBER	1.00	Director	$0	$0	$0
ANA ARSOV	BOARD MEMBER	1.00	Director	$0	$0	$0
MICHAEL CKLAMOVSKI	BOARD MEMBER	1.00	Director	$0	$0	$0
JUANA MARIN	BOARD MEMBER	1.00	Director	$0	$0	$0
ALEK ICEVA	BOARD MEMBER	1.00	Director	$0	$0	$0
KATI ICEVA	BOARD MEMBER	1.00	Director	$0	$0	$0
JERRY NAUMOFF	BOARD MEMBER	1.00	Director	$0	$0	$0
MIHAIL MATESKI	BOARD MEMBER	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
2019	$152,267	$232,590	$50,835	$-80,323
2018	$114,573	$206,548	$130,820	$-91,975