Romanian American Foundation
- Assets
- $151.8m
- Revenue
- $36.4m
- Investments
- $0.0
- Employees
- 0
- Location
- New York, NY
- Founding
- 10/2011
- Data as of
- 12/2017
- EIN
- 27-1095214
Organization Overview
Romanian American Foundation is located in New York, NY. The organization was established in 2011. According to its NTEE Classification (Q32) the organization is classified as: International Economic Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Romanian American Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2017, Romanian American Foundation generated $36.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (12.4%) each year. All expenses for the organization totaled $5.1m during the year ending 12/2017. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2017
Describe the Organization's Mission:
Part 3 - Line 1
TO STRENGTHEN AND PROMOTE CONDITIONS FOR A SUSTAINABLE MARKET ECONOMY AND A DEMOCRATIC SOCIETY THAT PROVIDES ACCESS TO OPPORTUNITY FOR ALL SEGMENTS OF THE ROMANIAN SOCIETY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ASSIST IN BUILDING AND MAINTAINING A MARKET ECONOMY AND DEMOCRATIC SOCIETY IN ROMANIA. THE FOUNDATION CONTRIBUTES TO DEVELOPING ENTREPRENEURSHIP, IMPROVING EDUCATION, PROMOTING THE SPIRIT OF PHILANTHROPY IN ROMANIA AND FOSTERING INNOVATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Roxana Vitan President | Officer | 40 | $62,711 |
Bogdan Giurginca Treasurer And CFO | Officer | 40 | $60,411 |
Philip Henderson Chairman | OfficerTrustee | 1 | $0 |
Mihai Tudor Vice Chair | OfficerTrustee | 1 | $0 |
Arthur Hickok Corporate Secretary | Officer | 2 | $0 |
Emily Grand Asst. Corporate Secretary | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $2,548,167 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $33,843,883 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,392,050 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $3,219,880 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $125,977 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $240,402 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $17,437 |
| Payroll taxes | $221,425 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $71,912 |
| Fees for services: Accounting | $36,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $293,595 |
| Fees for services: Other | $109,305 |
| Advertising and promotion | $18,149 |
| Office expenses | $24,800 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $131,746 |
| Travel | $27,292 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $135,112 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $82,371 |
| Insurance | $11,745 |
| All other expenses | $0 |
| Total functional expenses | $5,102,451 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,339,879 |
| Savings and temporary cash investments | $7,508,287 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,178 |
| Investments—publicly traded securities | $104,684,264 |
| Investments—other securities | $0 |
| Investments—program-related | $1,877,728 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $151,764,693 |
| Accounts payable and accrued expenses | $117,412 |
| Grants payable | $2,009,621 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,127,033 |
| Net assets without donor restrictions | $149,637,660 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $149,637,660 |
Grants Awarded
Over the last fiscal year, Romanian American Foundation has awarded $977,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
South Portland, ME PURPOSE: EDUCATION | $807,000 |
Arlington, VA PURPOSE: ENTREPRENEURSHIP | $170,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Polish-American Freedom Foundation New York, NY | $332,912,578 | $20,651,430 |
Omidyar-Tufts Microfinance Fund Somerville, MA | $114,828,830 | -$1,213,909 |
Dress For Success Worldwide New York, NY | $9,765,263 | $14,118,582 |
Endeavor Global Inc New York, NY | $17,758,887 | $22,239,624 |
Mennonite Economic Development Associates Lancaster, PA | $26,265,593 | $14,802,817 |
Financial Services Volunteer Corps Inc New York, NY | $4,338,276 | $8,058,219 |
Romanian American Foundation New York, NY | $151,764,693 | $36,392,050 |
Nest Inc New York, NY | $5,296,909 | $4,810,117 |
Cerge-Ei Foundation New York, NY | $13,211,124 | $3,287,220 |
Junior Achievement Of New York New York, NY | $4,177,610 | $3,603,746 |
Junior Achievement Usa Bridgeville, PA | $5,474,447 | $2,637,956 |
Junior Achievement Of New Jersey Edison, NJ | $1,756,989 | $2,071,361 |