LATVIAN CENTER GAREZERS (EIN 381786562) - Form 990 Financial Analysis & Trantor Score

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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

1965

Legal Domicile

Principal Officer

MARA ABELTINS

Phone

2692445441

Tax Period

2024-01-01 to 2024-12-31

LATVIAN CENTER GAREZERS, founded in 1965, is a community nonprofit in the Arts, Culture & Humanities sector that reported $4.9M in total revenue in fiscal year 2024. Revenue surged 304% from the prior year, signaling strong growth momentum. The organization ran a surplus of $3.5M, a strong 71% operating margin.

Mission

GAREZERS PROSPERS AS A MEETING PLACE FOR LATVIANS OF ALL AGES, TO RAISE AND EDUCATE LATVIAN YOUTH, TO STRENGHTEN THE LATVIAN LANGUAGE, CULTURE AND SPIRITUAL VALUES, TO PROMOTE THE LATVIAN WAY OF LIFE AND DEVELOP LINKS WITH LATVIA.

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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 $4,052,690

Program Service Revenue $715,653

Investment Income $54,259

Other Revenue $66,685

TOTAL REVENUE $4,889,287

Expense Breakdown

Grants Paid $3,850

Salaries & Benefits $458,536

Fundraising Expenses $4,270

Program Expenses $1,217,737

Other Expenses $936,214

TOTAL EXPENSES $1,398,600

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,889,287	$1,210,832	+3.0%
Expenses	$1,398,600	$1,195,262	+0.2%
Net Income	$3,490,687	$15,570	+223.2%

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

100

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

$59,969

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ILENA RUSMANIS	PAST EXEC DI	40.00	Officer	$59,969	$0	$59,969
EGONS KUBULINS	PRESIDENT	8.00	Officer Director	$0	$0	$0
INGRIDA PETERSONS	CHAIRMAN	8.00	Officer Director	$0	$0	$0
ANDREJS JUNGE	VICE CHAIRMA	6.00	Officer Director	$0	$0	$0
ANDRA ZOMMERS	SECRETARY	3.00	Officer Director	$0	$0	$0
MARIS KANCS	TREASURER	6.00	Officer Director	$0	$0	$0
JANIS KUKAINIS	MEMBER	1.00	Director	$0	$0	$0
MARKUS APEILS	MEMBER	3.00	Director	$0	$0	$0
VILNIS KUBULINS	MEMBER	1.00	Director	$0	$0	$0
KRISTAPS PUTELIS	MEMBER	1.00	Director	$0	$0	$0
ANDA VIZULIS	MEMBER	3.00	Director	$0	$0	$0
EDVINS ROZE	MEMBER	1.00	Director	$0	$0	$0
CHARLES RAGAUSS	MEMBER	1.00	Director	$0	$0	$0
KARLIS MEMENIS	MEMBER	1.00	Director	$0	$0	$0
MARA ABELTINS	EXECUTIVE DI	40.00	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	$4,889,287	$1,398,600	$8,298,000	$3,490,687
2023	$1,210,832	$1,195,262	$4,777,969	$15,570
2022	$1,911,962	$1,231,725	$4,634,557	$680,237
2021	$1,156,418	$1,141,461	$4,046,891	$14,957
2020	$1,112,206	$844,325	$3,812,916	$267,881
2019	$1,359,803	$1,245,057	$3,509,617	$114,746
2018	$1,192,484	$1,179,764	$3,277,788	$12,720

LATVIAN CENTER GAREZERS