TURKISH AMERICAN ARTS SOCIETY OF N… - 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

2017

Legal Domicile

Principal Officer

IBRAHIM YAZICI

Phone

2129671100

Tax Period

2024-07-01 to 2025-06-30

TURKISH AMERICAN ARTS SOCIETY OF NEW YORK, founded in 2017, is a small nonprofit in the Arts, Culture & Humanities sector that reported $306K in total revenue in fiscal year 2024. Revenue fell 20% from the prior year — a significant decline worth monitoring.

Mission

TO PROMOTE TURKISH CULTURE THROUGH THE ARTS BY (I) EXPANDING THE PRODUCTION AND DISSEMINATION OF TURKISH MUSIC, CINEMA, AND VISUAL AND AUDITORY ARTS; (II) PRESENTING TURKISH ART TO AN EVER EXPANDING AUDIENCE; AND (III)COLLABORATING WITH OTHER CULTURAL GROUPS AND ORGANIZATIONS TO INCLUDE TURKISH ART WITHIN THEIR PRODUCTIONS AND PRESENTATIONS AND VISE-VERSA.

Program Service Accomplishments

Program 1

Expenses: $301,610 Revenue: $92,533

IN 2022 NEW MANHATTAN SINFONIETTA ORCHESTRA COLLABORATED WITH HMTC - HOLOCAUST MEMORIAL AND TOLERANCE CENTER IN NASSAU COUNTY FOR THE "HYMNS FROM AUSCHWITZ CONCERT" AT CARNEGIE HALL.NEW MANHATTAN...

IN 2022 NEW MANHATTAN SINFONIETTA ORCHESTRA COLLABORATED WITH HMTC - HOLOCAUST MEMORIAL AND TOLERANCE CENTER IN NASSAU COUNTY FOR THE "HYMNS FROM AUSCHWITZ CONCERT" AT CARNEGIE HALL.NEW MANHATTAN SINFONIETTA ORCHESTRA WAS ESTABLISHED UNDER TAASNY. "KARAGOZ EVERYWHERE", ANOTHER BRANCH OF TAASNY, PERFORMS CONTINUOUSLY TRADITIONAL PUPPET SHOWS TO CONTINUE THE LEGACY OF A 700 YEAR- OLD TRADITION CALLED KARAGOZ SHADOW THEATER (ACCEPTED AS AN INTANGIBLE CULTURAL HERITAGE OF HUMANITY BY UNESCO). THUS, TURKISH CULTURE HAS BEEN INTRODUCED TO DIVERSE GROUPS OF AUDIENCES ACROSS THE UNITED STATES.

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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 $213,819

Program Service Revenue $92,533

Investment Income $0

Other Revenue $0

TOTAL REVENUE $306,352

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $301,610

Other Expenses $318,756

TOTAL EXPENSES $318,756

Year-over-Year Comparison

	2024	2023	Change
Revenue	$306,352	$384,554	-0.2%
Expenses	$318,756	$369,678	-0.1%
Net Income	$-12,404	$14,876	-1.8%

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

146

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
IBRAHIM YAZICI	FOUNDER & PRESIDENT	5.00	Officer Director	$0	$0	$0
AYSEN DARCAN	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
BEDIRHAN SEZER	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
KUTAY MANFURAT	VICE PRESIDENT	2.00	Officer Director	$0	$0	$0
NESE DEMIRCAN OZBAY	TREASURER	2.00	Officer Director	$0	$0	$0
MELTEM COLAK	BOARD MEMBER	1.00	Director	$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
2025	$306,352	$318,756	$18,447	$-12,404
2024	No data	No data	No data	No data
2023	$401,871	$406,221	$6,648	$-4,350
2022	$258,403	$271,789	$8,532	$-13,386

TURKISH AMERICAN ARTS SOCIETY OF NEW YORK