Hudson Turkish American Cultural Inc Association Inc (EIN 562440451) - 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

2004

Legal Domicile

Principal Officer

NEBI DEMIRSOY

Phone

2018406456

Tax Period

2023-01-01 to 2023-12-31

Hudson Turkish American Cultural Inc Association Inc, founded in 2004, is a community nonprofit in the Arts, Culture & Humanities sector that reported $3.0M in total revenue in fiscal year 2023. Revenue surged 52% from the prior year, signaling strong growth momentum.

Mission

DEDICATED TO ADDRESSING THE SOCIAL AND CULTURAL NEEDS OF TURKISH AND AMERICAN PEOPLE LIVING IN NJ AND PROMOTES UNDERSTANDING OF AMERICAN AND TURKISH CULTURES WITHIN THE COMMUNITY TO IMPROVE UNITY.

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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 $2,078,358

Program Service Revenue $908,778

Investment Income $0

Other Revenue $4,682

TOTAL REVENUE $2,991,818

Expense Breakdown

Grants Paid $282,900

Salaries & Benefits $1,322,429

Fundraising Expenses $151,271

Program Expenses $2,673,324

Other Expenses $1,630,682

TOTAL EXPENSES $3,236,011

Year-over-Year Comparison

	2023	2022	Change
Revenue	$2,991,818	$1,969,057	+0.5%
Expenses	$3,236,011	$2,268,148	+0.4%
Net Income	$-244,193	$-299,091	-0.2%

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

N/A

Volunteers

N/A

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

$109,053

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Albert Karakus	President	1.00	Director	$0	$0	$0
Mustafa Gerdan	Secretary	1.00	Director	$0	$0	$0
Andy N Dogan	Vice President	1.00	Director	$0	$0	$0
Halil Tan	Treasurer	1.00	Director	$0	$0	$0
Hulya Karaca	Board Member (former)	1.00	Director	$0	$0	$0
Manucar Markoitze	Board Member	1.00	Director	$0	$0	$0
Zeliha Yarma	Board Member (former)	1.00	Director	$0	$0	$0
Tuba Kutlu	Board Member	1.00	Director	$0	$0	$0
ERKAN ERTOSUN	Chief Executive Officer/former	40.00	Officer	$93,314	$0	$93,314
NEBI DEMIRSOY	Chief Executive Officer	40.00	Officer	$15,739	$0	$15,739

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	$2,991,818	$3,236,011	$3,238,485	$-244,193
2022	$1,969,057	$2,268,148	$3,528,746	$-299,091
2021	$1,865,867	$1,637,307	$2,717,078	$228,560
2020	$1,040,995	$847,460	$870,921	$193,535
2019	$903,076	$900,811	$550,588	$2,265
2018	$790,523	$1,118,464	$537,518	$-327,941

Hudson Turkish American Cultural Inc Association Inc