Friends Of Ufm Inc

Organization Overview

Friends Of Ufm Inc is located in Mclean, VA. The organization was established in 2011. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Ufm Inc 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 12/2021, Friends Of Ufm Inc generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO SUPPORT THE WORK OF UNIVERSIDAD FRANCISCO MARROQUIN OF GUATEMALA CITY, GUATEMALA ... ...TO TEACH AND DISSEMINATE THE ETHICAL, LEGAL, AND ECONOMIC PRINCIPLES OF A SOCIETY OF FREE AND RESPONSIBLE PERSONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

UFM MADRID CAMPUS: IN 2018, UFM BEGAN OPERATIONS IN MADRID, SPAIN, WHERE IT OPERATES AS A FOREIGN UNIVERSITY. THE ORGANIZATION HAS A PROGRAM TO SUPPORT THIS CAMPUS. AS CLASSES BEGAN IN SEPTEMBER 2018, UFM BECAME THE ONLY LATIN AMERICAN UNIVERSITY AUTHORIZED TO OPERATE IN EUROPE. IT IS LOCATED IN ONE OF THE MOST POPULAR COUNTRIES FOR STUDY ABROAD AND ONE OF THE WORLD'S MOST COMPETITIVE ACADEMIC MARKETS FOR BUSINESS ADMINISTRATION AND ENTREPRENEURSHIP. AS A FOREIGN UNIVERSITY OPERATING IN SPAIN, THE OPPORTUNITIES TO DEVELOP NEW EDUCATIONAL PRODUCTS THAT ADDRESS THE IMPORTANCE OF LIBERTY IN ALL ITS MANIFESTATIONS ARE IMMENSE. FRIENDS OF UFM AIMS TO MAKE UFM MADRID A HIGH-PROFILE SHOWCASE FOR A DISRUPTIVE AND REPLICABLE EDUCATION MODEL, IN WHICH BOTH LEARNING PROCESS AND CONTENT ...CONTINUED ON SCHEDULE O CONTINUED FROM PAGE 2... REFLECT THE PRINCIPLES OF INDIVIDUAL FREEDOM, FREE MARKETS, AND PERSONAL RESPONSIBILITY. UFM ASPIRES TO BECOME THE EUROPEAN HUB FOR ALL WHO PROMOTE THESE PRINCIPLES. UFM MADRID IS A CHANCE TO EXPLORE AND EVOLVE WAYS TO REACH NEW AUDIENCES AND TO BE MORE EFFECTIVE IN HOW WE COMMUNICATE IDEAS. IT IS ALSO AN OPPORTUNITY TO RE-INTRODUCE CLASSICAL LIBERALISM INTO THE EDUCATIONAL CULTURE OF EUROPE. BY OFFERING YOUNG PEOPLE A SOLID EDUCATION THAT INSPIRES THEM TO SEEK A LIFE OF MEANING GROUNDED IN INDIVIDUAL LIBERTY AND RESPONSIBILITY, WE ASPIRE TO FORGE A CRITICAL MASS OF THOUGHT LEADERS, IN ALL SPHERES OF LIFE, WHO ARE COMMITTED TO PROMOTING AND DEFENDING THE VALUES THAT SUSTAIN A FREE SOCIETY.


ITA SCHOLARSHIP PROGRAMS: THE ORGANIZATION PROVIDES FUNDING FOR SCHOLARSHIP PROGRAMS AT UFM (ITA IS A SPANISH ACRONYM MEANING "PROMOTING ACADEMIC TALENT") THAT SEEK TO IDENTIFY THE POOREST, MOST HIGHLY QUALIFIED AND MOTIVATED STUDENTS IN GUATEMALA IN ORDER TO MAKE IT POSSIBLE FOR THEM TO EARN AN UNDERGRADUATE DEGREE. THE PROGRAMS INCLUDE SCHOLARSHIPS FOR: LAW STUDENTS; THE ADOLFO LAU SCHOLARSHIP PROGRAM NAMED AFTER A LONG-TIME UFM PROFESSOR OF ARCHITECTURE THAT PASSED AWAY IN 2012; THE INSTITUTE OF POLITICAL STUDIES AND INTERNATIONAL RELATIONS (EPRI); THE MANUEL F. AYAU SOCIETY, WHICH WAS ESTABLISHED BY UFM TO HONOR THE LEGACY OF MANUEL F. AYAU AND SUPPORTS SCHOLARS AND PROFESSORSHIPS; SUMMER PROGRAMS AT UFM'S MADRID CAMPUS AND OTHER LOCATIONS; AND OTHER DONOR-RESTRICTED SCHOLARSHIPS.


LEARNING INNOVATION CENTER (FORMERLY ONGOING LEARNING): THIS IS A PROGRAM THAT WAS RENAMED IN DECEMBER 2021 WHERE FRIENDS SUPPORTS THE ORGANIZATION'S CENTRO HENRY HAZLITT TO CONDUCT WORKSHOPS FOR UFM FACULTY AND STUDENTS ON DIFFERENT TEACHING, COLLABORATION, AND FACILITATION METHODOLOGIES.


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Board, Officers & Key Employees

Name (title)Compensation
Rodolfo Milani
President
$0
Daniel Green
Treasurer/secretary
$0
Vidar Jorgensen
Director
$0

Financial Statements

Statement of Revenue
Federated campaigns$3,247
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$1,203,949
Noncash contributions included in lines 1a–1f $10,886
Total Revenue from Contributions, Gifts, Grants & Similar$1,207,196
Total Program Service Revenue$1,700
Investment income $0
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$225
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $1,208,671

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Friends Of Ufm Inc has recieved totaling $60,000.

Awarding OrganizationAmount
Atlas Economic Research Foundation

Arlington, VA

PURPOSE: Economic Education

$60,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$6,250
Earnings-$225
Admin Expense$152,729
Net Contributions$1,218,552
Grants$1,037,092
Ending Balance$34,756

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