World Federation of Free Latvians

EIN: 521037082 501(c)(3) International Affairs

Rockville, MD

Total Revenue
$350,201
Total Expenses
$349,254
Total Assets
$243,225
Net Assets
$238,653
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1981
Legal Domicile
MD
Principal Officer
Peter Blumberg
Phone
3013407646
Tax Period
2023-01-01 to 2023-12-31

World Federation of Free Latvians, founded in 1981, is a small nonprofit in the International Affairs sector that reported $350K in total revenue in fiscal year 2023. Revenue surged 24% from the prior year, signaling strong growth momentum.

Mission

To support and encourage the continued development of democracy in Latvia and to provide leadership and coordination of educational and cultural activities to 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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $322,819
Program Service Revenue $26,952
Investment Income $430
Other Revenue $0
TOTAL REVENUE $350,201

Expense Breakdown

Grants Paid $27,708
Salaries & Benefits $161,795
Fundraising Expenses $0
Program Expenses $244,207
Other Expenses $159,751
TOTAL EXPENSES $349,254

Year-over-Year Comparison

2023 2022 Change
Revenue $350,201 $281,988 +0.2%
Expenses $349,254 $275,004 +0.3%
Net Income $947 $6,984 -0.9%
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

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Governance

Voting Members
16
Independent Members
16
Employees
N/A
Volunteers
17

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
4
$36,548
Total Directors
16
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Peter Blumberg President 25.00
Officer Director
$0 $0 $0
Martin Andersons Vice President 25.00
Officer Director
$0 $0 $0
Elisa Freimanis Board member 1.00
Director
$0 $0 $0
Valda Grinberga Board member 1.00
Director
$0 $0 $0
Diana Karklins Board member 1.00
Director
$0 $0 $0
Fritz Kristbergs Board member 1.00
Director
$0 $0 $0
Andris Kesteris Board member 1.00
Director
$0 $0 $0
Liva Zemitis Board member 1.00
Director
$0 $0 $0
Skaidrite Agulevica Board member 1.00
Director
$0 $0 $0
Ilze Libeka Board member 1.00
Director
$0 $0 $0
Reinis Dancis Board member 1.00
Director
$0 $0 $0
Justine Kreslina Board member 1.00
Director
$0 $0 $0
Karoline Zobens-East Board member 1.00
Director
$0 $0 $0
Marite Klavina Board member 1.00
Director
$0 $0 $0
Lauma Vlasova Board member 1.00
Director
$0 $0 $0
Renate De Karvalo-Albrehta Board member 1.00
Director
$0 $0 $0
Janis Gramatins Treasurer 20.00
Officer
$0 $0 $0
Raits Eglitis Secretary General 40.00
Officer
$33,473 $3,075 $36,548
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 $350,201 $349,254 $243,225 $947
2022 $281,988 $275,004 $263,234 $6,984
2021 $270,442 $238,145 $261,038 $32,297
2020 $156,697 $189,098 $236,694 $-32,401
2019 $171,935 $230,837 $261,568 $-58,902
2018 $357,295 $252,380 $323,184 $104,915
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