PROGRES FOUNDATION CORPORATION

EIN: 863800184 501(c)(3) Human Services

Middletown, CT

Total Revenue
$478,337
Total Expenses
$402,654
Total Assets
$172,617
Net Assets
$148,924
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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
2021
Legal Domicile
CT
Principal Officer
Aynabat Yaylymova
Phone
2029036493
Tax Period
2023-01-01 to 2023-12-31

PROGRES FOUNDATION CORPORATION, founded in 2021, is a small nonprofit in the Human Services sector that reported $478K in total revenue in fiscal year 2023. Revenue surged 73% from the prior year, signaling strong growth momentum. The organization ran a surplus of $76K, a strong 16% operating margin.

Mission

Progres Foundation Progres with one s as in the Turkmen language is a non-profit organization based in the United States that supports various progressive initiatives that contribute to understanding of social realities and to shaping a new vision and approaches to sustainable human development in Turkmenistan. Progres Foundation's activities consist primarily of informing and educating the public in Turkmenistan with an emphasis on free access to information and critical thinking by engaging with Turkmen nationals around the world.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $478,185
Program Service Revenue $0
Investment Income $152
Other Revenue $0
TOTAL REVENUE $478,337

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $363,874
Other Expenses $402,654
TOTAL EXPENSES $402,654

Year-over-Year Comparison

2023 2022 Change
Revenue $478,337 $275,766 +0.7%
Expenses $402,654 $204,225 +1.0%
Net Income $75,683 $71,541 +0.1%
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

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Governance

Voting Members
4
Independent Members
4
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
0
$0
Total Directors
4
$124,540
Key Employees
1
$124,540
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Joel Cowan President 1.00
Director
$0 $0 $0
Lisa Coll Treasurer 1.00
Director
$0 $0 $0
Adele Simons Secretary 1.00
Director
$0 $0 $0
Aynabat Yaylymova Executive Director 40.00
Director Key Emp Highest
$124,540 $0 $124,540
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
2023 $478,337 $402,654 $172,617 $75,683
2022 $275,766 $204,225 $104,385 $71,541
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