TURKISH AMERICAN SOCIETY OF MINNES… - 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

2001

Legal Domicile

Principal Officer

Kenan Baltaci

Phone

7153388015

Tax Period

2024-01-01 to 2024-12-31

TURKISH AMERICAN SOCIETY OF MINNESOTA, founded in 2001, is a small nonprofit in the International Affairs sector that reported $140K in total revenue in fiscal year 2024. Net assets of $483K represent 41 months of operating reserves.

Mission

TASMN's mission is to enrich the life of every Minnesotan by engaging them in cultural experience, education, interfaith dialogue, and humanitarian relief drawing from the Turkic cultural heritage.

Program Service Accomplishments

Program 1

Expenses: $135,588 Revenue: $140,071

PROGRAM ACCOMPLISHMENTS INCLUDE ANNUAL DIALOGUE DINNER WITH MORE THAN 100 PEOPLE FROM DIFFERENT CULTURES AND TRADITIONS. RAMADAN AND EID AL-AHDA CELEBRATIONS WITH MORE THAN 130 COMMUNITY MEMBERS...

PROGRAM ACCOMPLISHMENTS INCLUDE ANNUAL DIALOGUE DINNER WITH MORE THAN 100 PEOPLE FROM DIFFERENT CULTURES AND TRADITIONS. RAMADAN AND EID AL-AHDA CELEBRATIONS WITH MORE THAN 130 COMMUNITY MEMBERS. WEEKLY COMMUNITY GATHERINGS WITH MORE THAN 60 PEOPLE.

Program 2

Expenses: $0 Revenue: $0

Program 3

Expenses: $0 Revenue: $0

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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 $123,495

Program Service Revenue $16,576

Investment Income $0

Other Revenue $0

TOTAL REVENUE $140,071

Expense Breakdown

Grants Paid $47,850

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $135,588

Other Expenses $103,431

TOTAL EXPENSES $151,281

Year-over-Year Comparison

	2024	2023	Change
Revenue	$140,071	$137,900	+0.0%
Expenses	$151,281	$138,037	+0.1%
Net Income	$-11,210	$-137	+80.8%

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
Kenan Baltaci	President	8	Director	$0	$0	$0
Murat Ilyasov	Secretary	6	Director	$0	$0	$0
Aysegul Baltaci	Member	9	Director	$0	$0	$0
Tolga Misirli	Executive Director	18	Officer	$0	$0	$0
Ozer Asdemir	Treasurer	2	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	$140,071	$151,281	$732,455	$-11,210
2023	$137,900	$138,037	$746,867	$-137
2022	$103,873	$91,238	$750,739	$12,635
2021	$332,605	$51,083	$481,244	$281,522
2020	$74,745	$82,120	$405,730	$-7,375

TURKISH AMERICAN SOCIETY OF MINNESOTA