BULGARIA INNOVATION HUB INC

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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

2019

Legal Domicile

Principal Officer

PAVALINA YANAKIEVA

Phone

6505763951

Tax Period

2023-01-01 to 2023-12-31

BULGARIA INNOVATION HUB INC, founded in 2019, is a small nonprofit in the Community Improvement sector that reported $267K in total revenue in fiscal year 2023. Revenue surged 77% from the prior year, signaling strong growth momentum.

Mission

DRIVING INNOVATION, GROWTH, AND HUMAN DEVELOPMENT THROUGH KNOWLEDGE EXCHANGE AND CROSS-CULTURAL COLLABORATION.

Program Service Accomplishments

Program 1

Expenses: $81,442 Revenue: $54,691

BULGARIA INNOVATION HUB-ACCELERATOR PROGRAM - OVER THE PAST YEAR, BIH HAS SUCCESSFULLY COMPLETED TWO ACCELERATOR PROGRAMS-ONE IN THE SPRING OF 2023, AND ONE IN THE FALL, BOTH HELD IN A HYBRID FORMAT, VIRTUAL (VIA ZOOM) AND IN-PERSON IN SAN FRANCISCO FOR THE LAST WEEK OF THE PROGRAM. THE PROGRAM PROVIDED ENTREPRENEURIAL AND BUSINESS EDUCATION TO 10 COMPANIES AND OVER 40 ENTREPRENEURS. THE PROGRAM'S IMPACT CONTRIBUTED TO THE CREATION OF 300+ NEW JOBS ACROSS BULGARIA, SOUTHEASTERN EUROPE, AND THE UNITED STATES. WE EXPANDED OUR GLOBAL MENTOR NETWORK BY RECRUITING MORE THAN 45 NEW MENTORS, EACH BRINGING EXTENSIVE ENTREPRENEURIAL AND INDUSTRY EXPERTISE TO SUPPORT FOUNDERS. ADDITIONALLY, BIH HOSTED EDUCATIONAL AND NETWORKING EVENTS IN BOTH BULGARIA AND THE US, FOSTERING KNOWLEDGE EXCHANGE AND STRENGTHENING CROSS-CULTURAL COLLABORATION BETWEEN THE US AND SOUTHEASTERN EUROPEAN ENTREPRENEURIAL ECOSYSTEMS. THE PROGRAM CONTINUES TO BRIDGE THE KNOWLEDGE AND NETWORK GAP BETWEEN BULGARIA, CEE AND SILICON VALLEY, POSITIONING THE REGION AS A PROMISING TECHNOLOGY AND INNOVATION HUB FOR US INVESTORS AND PARTNERS.

Program 2

Expenses: $122,162 Revenue: $0

OUTREACH AND EDUCATION - BIH ORGANIZATION'S CORE PROGRAM PROVIDES IMPACTFUL EDUCATION AND OUTREACH TO EMPOWER HIGH-IMPACT ENTREPRENEURS TO BECOME GLOBAL LEADERS WHO CREATE SOCIAL AND ECONOMIC IMPACT IN BULGARIA, CEE, AND BEYOND. EDUCATIONAL ACTIVITIES INCLUDE WORKSHOPS, TRAINING SESSIONS, AND EVENTS TO BUILD ESSENTIAL SKILLS, WITH EXPENSES COVERING VENUE RENTAL, CATERING, MATERIALS, AND VIDEO PRODUCTION FOR PROGRAM CURRICULUM. THESE RESOURCES CREATE ACCESSIBLE LEARNING OPPORTUNITIES FOR OUR PARTICIPANTS. OUR OUTREACH STRATEGY LEVERAGES SOCIAL MEDIA, NEWSLETTERS, AND CONTENT MANAGEMENT PARTNERSHIPS TO EXPAND OUR REACH AND ENGAGE OUR COMMUNITY. COLLABORATIONS LIKE RECURSIVE SUPPORT CONSISTENT COMMUNICATION AND BROADER IMPACT. THESE OUTREACH AND EDUCATION INITIATIVES ARE CRUCIAL IN FULFILLING OUR MISSION AND DRIVING POSITIVE OUTCOMES IN OUR COMMUNITY.

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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 $212,312

Program Service Revenue $54,691

Investment Income $0

Other Revenue $0

TOTAL REVENUE $267,003

Expense Breakdown

Grants Paid $0

Salaries & Benefits $183,919

Fundraising Expenses $46,750

Program Expenses $203,604

Other Expenses $104,159

TOTAL EXPENSES $288,078

Year-over-Year Comparison

	2023	2022	Change
Revenue	$267,003	$150,662	+0.8%
Expenses	$288,078	$438,378	-0.3%
Net Income	$-21,075	$-287,716	-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

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

$151,350

Total Directors