THE EURASIA 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

1992

Legal Domicile

Principal Officer

ELIZABETH COLL

Phone

2022347370

Tax Period

2024-10-01 to 2025-09-30

THE EURASIA FOUNDATION, founded in 1992, is a mid-sized nonprofit in the International Affairs sector that reported $27.8M in total revenue in fiscal year 2024. Revenue fell 23% from the prior year — a significant decline worth monitoring.

Mission

EURASIA FOUNDATION BELIEVES SOCIETIES FUNCTION BEST WHEN PEOPLE TAKE RESPONSIBILITY FOR THEIR OWN CIVIC AND ECONOMIC PROSPERITY. THROUGH COOPERATION BASED ON MUTUAL RESPECT, OUR PROGRAMS EQUIP CITIZENS TO DEFINE AND ACHIEVE OUTCOMES OF ENDURING (CONTINUED ON SCHEDULE O)BENEFIT TO THEIR COMMUNITIES. WHILE BUILDING THE LEADERSHIP SKILLS OF WOMEN AND YOUNG PEOPLE, WE HELP SMALL BUSINESS BECOME MORE SUCCESSFUL, LOCAL GOVERNMENT MORE RESPONSIVE AND CIVIC ORGANIZATIONS MORE EFFECTIVE AND RESILIENT.

Program Service Accomplishments

Program 1

Expenses: $20,025,694

EURASIA PROGRAMSEURASIA FOUNDATION'S PROGRAMS IN THE EURASIA REGION (UKRAINE, RUSSIA, CENTRAL ASIA, SOUTH CAUCASUS) ARE IMPLEMENTED IN PARTNERSHIPS WITH THE EF'S LEGACY FOUNDATIONS (EURASIA...

EURASIA PROGRAMSEURASIA FOUNDATION'S PROGRAMS IN THE EURASIA REGION (UKRAINE, RUSSIA, CENTRAL ASIA, SOUTH CAUCASUS) ARE IMPLEMENTED IN PARTNERSHIPS WITH THE EF'S LEGACY FOUNDATIONS (EURASIA FOUNDATION OF CENTRAL ASIA, EAST EUROPE FOUNDATIONS, EURASIA PARTNERSHIP FOUNDATION, AND NEW EURASIA FOUNDATION) AND OTHER IMPLEMENTING PARTNERS. EF'S MAJOR PROGRAMS IN THE EURASIA REGION FOCUSED ON CAPACITY BUILDING OF CIVIL SOCIETY ORGANIZATIONS, SUPPORTING A NETWORK OF RESOURCE, RESEARCH AND TRAINING CENTERS, FACILITATING SOCIAL EXPERTISE EXCHANGE, BUILDING PARTNERSHIPS BETWEEN UNIVERSITIES, AND INCREASING TRANSPARENCY AND ACCOUNTABILITY THROUGH E-GOVERNANCE AND DIGITAL TRANSFORMATION ACTIVITIES.

Program 2

Expenses: $2,884,508

MENA PROGRAMSEURASIA FOUNDATION'S PROGRAMS IN THE MIDDLE EAST AND NORTH AFRICA REGION USE INNOVATIVE ONLINE EDUCATION AND SOCIAL NETWORKING PLATFORMS TO PROVIDE TRAINING IN ENTREPRENEURSHIP...

MENA PROGRAMSEURASIA FOUNDATION'S PROGRAMS IN THE MIDDLE EAST AND NORTH AFRICA REGION USE INNOVATIVE ONLINE EDUCATION AND SOCIAL NETWORKING PLATFORMS TO PROVIDE TRAINING IN ENTREPRENEURSHIP, ADVOCACY, CIVIC EDUCATION, AND CRITICAL THINKING.

Program 3

Expenses: $946,302

CENTRAL ASIA PROGRAMSEURASIA FOUNDATION (EF) SUPPORTS THE CULTIVATION OF A VIBRANT AND RESPONSIVE CITIZEN-ORIENTED CIVIL SOCIETY IN CENTRAL ASIA.

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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 $26,981,738

Program Service Revenue $0

Investment Income $627,634

Other Revenue $217,157

TOTAL REVENUE $27,826,529

Expense Breakdown

Grants Paid $11,595,936

Salaries & Benefits $8,074,797

Fundraising Expenses $0

Program Expenses $23,856,504

Other Expenses $7,968,928

TOTAL EXPENSES $27,639,661

Year-over-Year Comparison

	2024	2023	Change
Revenue	$27,826,529	$36,362,407	-0.2%
Expenses	$27,639,661	$36,939,538	-0.3%
Net Income	$186,868	$-577,131	-1.3%

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

$447,569

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
PAMELA SPRATLEN	CHAIRMAN	4.00	Officer Director	$0	$0	$0
RICHARD L MORNINGSTAR	VICE CHAIRMAN	4.00	Officer Director	$0	$0	$0
ERIC GREEN	SECRETARY - AS OF 10/2024	4.00	Officer Director	$0	$0	$0
SUSAN REICHLE	SECRETARY - UNTIL 10/2024	4.00	Officer Director	$0	$0	$0
BRAD STEVENSON	TREASURER	4.00	Officer Director	$0	$0	$0
ANNE AARNES	MEMBER	2.00	Director	$0	$0	$0
ERIC BOYLE	MEMBER	2.00	Director	$0	$0	$0
RANDY BREGMAN	MEMBER	2.00	Director	$0	$0	$0
SEAN CAIRNCROSS	MEMBER - UNTIL 2/2025	2.00	Director	$0	$0	$0
SCOTT CULLINANE	MEMBER	2.00	Director	$0	$0	$0
JILL DOUGHERTY	MEMBER	2.00	Director	$0	$0	$0
CONAN FRENCH	MEMBER	2.00	Director	$0	$0	$0
SUSAN FRITZ	MEMBER	2.00	Director	$0	$0	$0
ALONZO FULGHAM	MEMBER - UNTIL 2/2025	2.00	Director	$0	$0	$0
ALEXANDRA HALL HALL	MEMBER - UNTIL 10/2024	2.00	Director	$0	$0	$0
SHANTHI KALATHIL	MEMBER	2.00	Director	$0	$0	$0
JENNIFER MURTAZASHVILI	MEMBER	2.00	Director	$0	$0	$0
ANDRAS SIMONYI	MEMBER	2.00	Director	$0	$0	$0
DAVID SLADE	MEMBER - UNTIL 2/2025	2.00	Director	$0	$0	$0
JUDYTH TWIGG	MEMBER	2.00	Director	$0	$0	$0
LEIF ULSTRUP	MEMBER	2.00	Director	$0	$0	$0
MARY BURCE WARLICK	MEMBER - UNTIL 10/2024	2.00	Director	$0	$0	$0
DJ WOLFF	MEMBER	2.00	Director	$0	$0	$0
ELIZABETH COLL	PRESIDENT	40.00	Officer	$240,464	$41,501	$281,965
MATTHEW MOSNER	GENERAL COUNSEL - UNTIL 03/2025	40.00	Officer	$127,638	$37,966	$165,604
ROBERT O'DONOVAN	SENIOR VICE PRESIDENT	40.00	Highest	$203,947	$37,809	$241,756
RUSLANBEK MONOLBAEV SR DIR	OF BUSINESS DEVELOPMENT	40.00	Highest	$162,023	$49,975	$211,998
SARA SHIRZAD SR DIRECTOR	OF INNOVATIVE TRAINING SOLUTIONS	40.00	Highest	$179,043	$10,707	$189,750
HRACHYA TOPALYAN DIRECTOR OF	CIVIC ENGAGEMENT AND LEADERSHIP	40.00	Highest	$137,162	$48,011	$185,173
ADAM STUBITS	VP OF OPERATIONS - UNTIL 2/2025	40.00	Highest	$124,004	$16,193	$140,197

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	$27,826,529	$27,639,661	$5,248,520	$186,868
2024	$36,362,407	$36,939,538	$6,010,032	$-577,131
2023	$21,414,985	$21,528,969	$7,810,336	$-113,984
2022	$21,294,197	$21,652,382	$6,927,044	$-358,185
2021	$16,957,437	$16,744,127	$7,282,681	$213,310
2020	$10,131,298	$11,371,049	$5,739,424	$-1,239,751
2019	$8,408,392	$8,820,104	$4,708,084	$-411,712
2018	$9,241,468	$9,784,749	$5,704,979	$-543,281