BOSNIAN AMERICAN ASSOCIATION 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

Principal Officer

IGOR KUVAC

Tax Period

2023-01-01 to 2023-12-31

BOSNIAN AMERICAN ASSOCIATION INC, founded in 2019, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $54K in total revenue in fiscal year 2023. Revenue fell 61% from the prior year — a significant decline worth monitoring. The organization ran a surplus of $11K, a strong 21% operating margin.

Mission

THE MISSION OF THE BOSNIAN-AMERICAN ASSOCIATION OF BOWLING GREEN IS TO PROMOTE AND FOSTER BOSNIAN-AMERICAN HERITAGE AND ACTIVISM AND COLLABORATE WITH COMMUNITY STAKEHOLDERS OF THE BOSNIAN-AMERICAN COMMUNITY IN BOWLING GREEN, KENTUCKY, AND THE UNITED STATES IN AN EFFORT TO ESTABLISH BETTER RELATIONSHIPS AND CREATE AND INCLUSIVE ENVIRONMENT FOR BOSNIAN-AMERICANS. SECOND, THE MISSION OF THE BOSNIAN-AMERICAN ASSOCIATION IS TO ENGAGE IN COMMUNITY EFFORTS TO GIVE BACK TO THE BOWLING GREEN COMMUNITY AND BOSNIANS ABROAD.

Program Service Accomplishments

Program 1

Expenses: $5,701

BOSNIAN AMERICAN ASSOCIATION, INC (BAA) OFFERS BOSNIAN LANGUAGE, CULTURE AND HISTORY CLASSES IN THE EFFORT TO PRESERVE THE BOSNIAN CULTURE AND HERITAGE AMONG THE BOSNIAN-AMERICAN COMMUNITY IN BOWLING GREEN, KY. THESE CLASSES ARE OFFERED IN HOPES THAT OUR NEIGHBORS WILL IMMERSE THEMSELVES IN THE COMPLETE BOSNIAN EXPERIENCE AND TO CLOSE THE CULTURAL AND LANGUAGE GAPS THAT EXIST. BAA WILL ALSO HOST EVENTS AND SEMINARS THAT FOCUS ON TEACHING THE LOCAL COMMUNITY ABOUT BOSNIAN FOOD, MUSIC, DANCING, AND OTHER CULTURAL ACTIVITIES OBSERVED IN BOSNIA. BAA WANTS TO HELP THE COMMUNITY ACHIEVE LONG-TERM AND SUSTAINABLE OUTCOMES, PROCESSES, DECISION-MAKING, AND IMPLEMENTATION OF IDEAS THAT EFFECT EVERYONE.

Program 2

Expenses: $37,457

BAA BELIEVES THEY CAN BREAK DOWN CULTURAL BARRIERS AS WELL AS PROMOTE DIVERSITY AND INCLUSION WITHIN THE BOWLING GREEN COMMUNITY BY UTILIZING THE GAME OF SOCCER. BAA BELIEVES SOCCER WILL PROMOTE TEAM BUILDING, CHARACTER, AND WORK ETHIC DEVELOPMENT WITH A DIVERSE GROUP OF CHILDREN AS WELL AS PARENTS.

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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 $29,546

Program Service Revenue $24,810

Investment Income $0

Other Revenue $0

TOTAL REVENUE $54,356

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $43,158

Other Expenses $43,158

TOTAL EXPENSES $43,158

Year-over-Year Comparison

	2023	2022	Change
Revenue	$54,356	$140,138	-0.6%
Expenses	$43,158	$146,118	-0.7%
Net Income	$11,198	$-5,980	-2.9%

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

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMEL ATIC	DIRECTOR	N/A	Director	$0	$0	$0
IRMA GOLUBOVIC	DIRECTOR	N/A	Director	$0	$0	$0
ASMIRA HUSIC	PRESIDENT	N/A	Officer Director	$0	$0	$0
IGOR KUVAC	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
MIRELA OSMANOVIC	DIRECTOR	N/A	Director	$0	$0	$0
ADNAN SALIHOVIC	TREASURER	N/A	Officer Director	$0	$0	$0
MEHMED SALIHOVIC	DIRECTOR	N/A	Director	$0	$0	$0
SANELA SALIHOVIC	SECRETARY	N/A	Officer Director	$0	$0	$0
SEDIN SALIHOVIC	DIRECTOR	N/A	Director	$0	$0	$0
MIRSAD ZUKIC	DIRECTOR	N/A	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
2024	No data	No data	No data	No data
2023	$54,356	$43,158	$30,935	$11,198
2019	$135,221	$110,556	$24,665	$24,665