TURKISH AMERICAN SOCIETY 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

1997

Legal Domicile

Principal Officer

YASAR SELNIK

Phone

8476407272

Tax Period

2024-08-01 to 2025-07-31

TURKISH AMERICAN SOCIETY INC, founded in 1997, is a community nonprofit in the Education sector that reported $6.4M in total revenue in fiscal year 2024. Revenue surged 30% from the prior year, signaling strong growth momentum.

Mission

IN A WORLD WHERE EVEN THE FURTHEST POINT IS WITHIN AN ARM'S REACH, IT IS INEVITABLE TO LIVE WITHOUT DIVERSITY. IN ORDER FOR EVERYONE TO LIVE PEACEFULLY, IT IS IMPORTANT FOR INDIVIDUALS TO AVOID SUBJECTS THAT MIGHT SEPARATE VARIOUS SOCIETIES. IT IS THE MISSION OF THE NIAGARA EDUCATIONAL SERVICES TO SERVE COMMUNAL PEACE, LOVE, AND FRIENDSHIP BY STRIVING TO BRING FORTH THE COMMON VALUES OF HUMANITY SUCH AS STRONG ETHICS, DEMOCRACY, AND COMPASSION. THE TURKISH AMERICAN SOCIETY, INC'S., ACKNOWLEDGES THE IMPORTANCE OF SPREADING THESE MOST SIGNIFICANT VALUES THROUGHOUT THE COMMUNITIES AND ALSO TAKING THEM ON AS A COMMON VIRTUE. IN ORDER TO BUILD A BETTER FUTURE, THE NIAGARA EDUCATIONAL SERVICES WILL WORK HAND IN HAND WITH OTHER COMMUNITY, FAITH GROUPS, AND INSTITUTIONS THAT RECOGNIZE THE SAME MISSION.

Program Service Accomplishments

Program 1

TURKISH AMERICAN SOCIETY OF CHICAGO IS SERVING AS COMMUNITY CENTER. DURING THE YEAR, WEEKEND SCHOOL, SUMMER SCHOOL, TUTORING, CLASSES, HOLIDAY PROGRAMS, WINTER RETREAT CAMP, COMMUNITY FESTIVAL AND...

TURKISH AMERICAN SOCIETY OF CHICAGO IS SERVING AS COMMUNITY CENTER. DURING THE YEAR, WEEKEND SCHOOL, SUMMER SCHOOL, TUTORING, CLASSES, HOLIDAY PROGRAMS, WINTER RETREAT CAMP, COMMUNITY FESTIVAL AND MANY OTHER EVENTS WERE ORGANIZED. APPROX. 1500 COMMUNITY MEMBERS WERE SERVED.

Program 2

SCIENCE ACADEMY OF CHICAGO IS AN INDEPENDENT, COEDUCATIONAL, COLLEGE PREPARATORY DAY SCHOOL PROVIDING ACCELERATED EDUCATION TO STUDENTS FROM GRADE PRE-KINDERGARTEN THROUGH GRADE EIGHT. ADMISSION IS OPEN TO ALL QUALIFIED STUDENTS AND IS NOT BASED ON RACE, RELIGION, COLOR OR ETHINIC ORIGIN. APPROX.275 STUDENTS WERE INSTRUCTED. THE SUBJECTS TAUGHT BY THE SCIENCE ACADEMY OF CHIAGO ARE ENGLISH, SCIENCE, MATHEMATICS, SOCIAL STUDIES, COMPUTER TECHNOLOGY, FOREIGN LANGUAGES, CHARACTER EDUCATION, DRAMA, ART, MUSIC AND PHYSICAL 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 (2024)

Revenue Breakdown

Contributions & Grants $1,407,504

Program Service Revenue $5,022,354

Investment Income $0

Other Revenue $0

TOTAL REVENUE $6,429,858

Expense Breakdown

Grants Paid $0

Salaries & Benefits $4,326,197

Fundraising Expenses $0

Program Expenses $6,531,816

Other Expenses $2,205,619

TOTAL EXPENSES $6,531,816

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,429,858	$4,934,729	+0.3%
Expenses	$6,531,816	$4,893,848	+0.3%
Net Income	$-101,958	$40,881	-3.5%

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

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
RANA YURTSEVER	PRESIDENT	N/A	Director	$0	$0	$0
HAKAN SAHSIVAR	TREASURER	N/A	Officer Director	$0	$0	$0
MUSTAFA A YAZICI	SECRETARY	N/A	Director	$0	$0	$0
BEKMURAT AMIRAKUL	DIRECTOR	N/A	Director	$0	$0	$0
HASAN OZTURK	DIRECTOR	N/A	Officer Director	$0	$0	$0
GULSERBEK TOKTOBOEV	DIRECTOR	N/A	Director	$0	$0	$0
IRFAN BIRSEN	DIRECTOR	N/A	Director	$0	$0	$0
SERPIL CAPUTLU	DIRECTOR	N/A	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	$6,429,858	$6,531,816	$9,561,944	$-101,958
2024	$5,695,545	$5,887,529	$9,662,757	$-191,984
2023	$4,934,729	$4,893,848	$9,837,947	$40,881
2022	$3,661,400	$3,597,015	$9,952,466	$64,385
2021	$2,548,827	$2,895,481	$10,435,806	$-346,654
2020	$2,519,213	$2,963,693	$10,254,969	$-444,480
2019	$2,779,992	$2,947,728	$10,855,453	$-167,736
2018	$2,351,242	$2,449,552	$11,128,950	$-98,310