Turkish Cultural Foundation
- Assets
- $7.0m
- Revenue
- $1.0m
- Investments
- $5.2m
- Employees
- 0
- Location
- concord, MA
- Founding
- 06/2000
- Data as of
- 12/2020
- EIN
- 04-3484459
Organization Overview
Turkish Cultural Foundation is located in concord, MA. The organization was established in 2000. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Turkish Cultural 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 12/2020, Turkish Cultural Foundation generated $1.0m in total revenue. All expenses for the organization totaled $2.6m during the year ending 12/2020. While expenses have increased by 6.7% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Turkish Cultural Foundation has awarded 14 individual grants totaling $2,788,429. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2020
Describe the Organization's Program Activity:
Part 3 - Line 4a
TCF CONTINUED TO RESEARCH, DOCUMENT, PRESERVE, AND PROMOTE TURKEY'S HERITAGE THROUGH THE WORK OF PRESERVATION, CUTURAL LECTURES SERIES AND VIRTUAL GALLERY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Yalcin Ayasli Trustee | 40 | $244,200 | |
Dr Serpil Ayasli Trustee | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $1,016,279 |
| Interest on Savings | $0 |
| Dividends & Interest | $12,953 |
| Net Rental Income | $56,375 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | -$69,367 |
| Total Revenue | $1,016,240 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $244,200 |
| Other employee salaries and wages | $74,125 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $10,179 |
| Depreciation | $120,665 |
| Occupancy | $110,716 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $40,028 |
| Total operating and administrative expenses | $613,254 |
| Contributions, gifts, grants paid | $2,000,000 |
| Total expenses and disbursements | $2,613,254 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,408 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $12,500 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,150,174 |
| Net Land, buildings, and equipment | $1,814,943 |
| Other assets | $0 |
| Total assets | $6,986,025 |
| Accounts payable and accrued expenses | $11,937 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $11,937 |
Grants Awarded
Over the last fiscal year, Turkish Cultural Foundation has awarded $2,000,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
TURKISH PHILANTROPY FUND PURPOSE: PHILANTHROPIC GRANT | $1,000,000 |
TURKISH COALITION OF AMERICA PURPOSE: PHILANTHROPIC GRANT | $1,000,000 |