FREE RUSSIA FOUNDATION

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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

2014

Legal Domicile

Principal Officer

NATALIYA ARNO

Phone

2025492417

Tax Period

2023-01-01 to 2023-12-31

FREE RUSSIA FOUNDATION, founded in 2014, is a community nonprofit in the International Affairs sector that reported $5.1M in total revenue in fiscal year 2023. Revenue surged 50% from the prior year, signaling strong growth momentum. Expenses of $4.7M left a modest 7% surplus.

Mission

THE WORK OF FREE RUSSIA FOUNDATION IS FOCUSED IN THREE KEY MISSION AREAS: 1. ADVANCING THE VISION OF A DEMOCRATIC, PROSPEROUS AND PEACEFUL RUSSIA GOVERNED BY THE RULE OF LAW BY EDUCATING THE NEXT GENERATION OF RUSSIAN LEADERS COMMITTED TO THESE IDEALS; 2. STRENGTHENING CIVIL SOCIETY IN RUSSIA AND DEFENDING HUMAN RIGHTS ACTIVISTS PERSECUTED BY THE RUSSIAN GOVERNMENT; AND 3. SUPPORTING FORMULATION OF AN EFFECTIVE AND SUSTAINABLE RUSSIA POLICY IN THE UNITED STATES AND EUROPE BY EDUCATING POLICY MAKERS AND INFORMING PUBLIC DEBATE.

Program Service Accomplishments

Program 1

Expenses: $4,257,632 Revenue: $46,200

SUPPORTING GLOBAL RUSSIAN PRO-DEMOCRACY FORCES THROUGH EDUCATIONAL PROGRAMS; RAISING AWARENESS ABOUT RUSSIA-RELATED ISSUES AMONG WESTERN POLICY-MAKERS INCLUDING SEMINARS AND BRIEFINGS FOR THE U.S...

SUPPORTING GLOBAL RUSSIAN PRO-DEMOCRACY FORCES THROUGH EDUCATIONAL PROGRAMS; RAISING AWARENESS ABOUT RUSSIA-RELATED ISSUES AMONG WESTERN POLICY-MAKERS INCLUDING SEMINARS AND BRIEFINGS FOR THE U.S. CONGRESS, STATE DEPARTMENT, EUROPEAN PARLIAMENT, NATIONAL EUROPEAN PARLIAMENTS, THINK TANKS, DEMOCRACY PROMOTION, HUMAN RIGHTS AND MEDIA ORGANIZATIONS; CONDUCTING RESEARCH ON THE CURRENT SITUATION IN RUSSIA AND PROSPECTS FOR PRO-DEMOCRACY FORCES, ON THE WAYS THE CURRENT RUSSIAN GOVERNMENT UNDERMINES WESTERN INSTITUTIONS, SPREADS FAKE NEWS AND DISINFORMATION AND BRINGS ITS CORRUPT PRACTICES TO THE WEST. FORMULATING RECOMMENDATIONS FOR WESTERN GOVERNMENTS, PARLIAMENTS, EXPERT AND MEDIA COMMUNITY, AND CIVIL SOCIETY TO COUNTER KREMLIN'S DISINFORMATION AND KLEPTOCRACY. CONSOLIDATING EXILED PRO-DEMOCRACY RUSSIANS AND TRAINING THEM ON HOW TO ADVOCATE FOR RUSSIA-RELATED PRO-DEMOCRACY CAUSES AND INITIATIVES.

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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 $5,061,139

Program Service Revenue $0

Investment Income $225

Other Revenue $0

TOTAL REVENUE $5,061,364

Expense Breakdown

Grants Paid $1,720,868

Salaries & Benefits $253,188

Fundraising Expenses $0

Program Expenses $4,257,632

Other Expenses $2,757,980

TOTAL EXPENSES $4,732,036

Year-over-Year Comparison

	2023	2022	Change
Revenue	$5,061,364	$3,363,197	+0.5%
Expenses	$4,732,036	$3,021,764	+0.6%
Net Income	$329,328	$341,433	0.0%

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

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

$309,968

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
HON DAVID J KRAMER	BOARD CHAIRMAN	0.50	Officer Director	$0	$0	$0
HON PAIGE ALEXANDER	BOARD VICE CHAIR	0.50	Officer Director	$0	$0	$0
DR SERGEY ALEKSASHENKO	BOARD TREASURER	0.50	Officer Director	$0	$0	$0
DR ALINA POLYAKOVA	BOARD MEMBER	0.50	Director	$0	$0	$0
ELLEN BORK	BOARD MEMBER	0.50	Director	$0	$0	$0
THOMAS FIRESTONE	BOARD MEMBER	0.50	Director	$0	$0	$0
RALF FUEKS	BOARD MEMBER	0.50	Director	$0	$0	$0
TOOMAS HENDRIK ILVES	BOARD MEMBER	0.50	Director	$0	$0	$0
AMB IAN KELLY	BOARD MEMBER	0.50	Director	$0	$0	$0
SARAH MENDELSON	BOARD MEMBER	0.50	Director	$0	$0	$0
DR DANIEL TREISMAN	BOARD MEMBER	0.50	Director	$0	$0	$0
ANDREW WOOD	BOARD MEMBER	0.50	Director	$0	$0	$0
NATALIYA ARNO	PRESIDENT	32.20	Officer	$123,896	$10,108	$166,358
NADEZHDA VALUEVA	COO & SECRETARY	26.40	Officer	$76,042	$8,748	$128,540
OLGA GOLOVANENKO	CFO	39.50	Officer	$15,070	$0	$15,070

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	$5,061,364	$4,732,036	$2,026,427	$329,328
2022	$3,363,197	$3,021,764	$2,351,508	$341,433
2021	$2,113,288	$1,306,473	$1,678,814	$806,815
2020	$1,459,899	$1,303,730	$681,283	$156,169
2019	$2,176,780	$2,057,647	$415,856	$119,133
2018	$1,004,881	$832,521	$288,056	$172,360