American-Scandinavian Foundation
- Assets
- $48.8m
- Revenue
- $6.8m
- Investments
- $5.3m
- Employees
- 26
- Location
- New York, NY
- Founding
- 05/1920
- Data as of
- 06/2022
- EIN
- 13-1623897
Organization Overview
American-Scandinavian Foundation is located in New York, NY. The organization was established in 1920. According to its NTEE Classification (Q20) the organization is classified as: Promotion of International Understanding, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 06/2022, American-Scandinavian Foundation employed 26 individuals. This organization is the central organization for a national or regional group of organizations. American-Scandinavian 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 06/2022, American-Scandinavian Foundation generated $6.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $4.6m during the year ending 06/2022. While expenses have increased by 0.3% per year over the past 7 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, American-Scandinavian Foundation has awarded 38 individual grants totaling $975,431. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO BUILD INTERNATIONAL UNDERSTANDING WITH EXTENSIVE PROGRAMS OF FELLOWSHIPS, GRANTS, INTERN/TRAINEE SPONSORSHIP, PUBLISHING, EDUCATIONAL AND MEMBERSHIP OFFERINGS.
Describe the Organization's Program Activity:
TRAINING AND FELLOWSHIP - FELLOWSHIPS AND GRANTS FROM THE AMERICAN SCANDINAVIAN FOUNDATION WERE AWARDED ON A COMPETITIVE BASIS TO AMERICANS FOR STUDY OR RESEARCH IN DENMARK, FINLAND, ICELAND, NORWAY, AND SWEDEN AND TO SCANDINAVIANS IN THE U.S. AND RECOMMENDED BY ASF'S COOPERATING ORGANIZATIONS IN EACH OF THE NORDIC COUNTRIES. THE RECIPIENTS REPRESENTED A VERY BROAD RANGE OF FIELDS AND UNIVERSITIES AND WERE AT THE GRADUATE, POST-GRADUATE, OR PROFESSIONAL LEVEL. IN ADDITION, THE ASF MADE PUBLIC PROJECT GRANT TO EDUCATIONAL AND CULTURAL INSTITUTIONS TO BRING SCANDINAVIAN CULTURE AND IDEAS TO VENUES THROUGHOUT THE U.S. OVER THE YEAR, THESE GRANTS SUPPORTED NORDIC PROJECTS IN VARIOUS STATES. THE TRAINING AND INTERNSHIP PROGRAM HELPS YOUNG SCANDINAVIANS AND AMERICANS RECEIVE PRACTICAL WORK EXPERIENCE ACROSS THE ATLANTIC.
MEMBERSHIP
PUBLIC PROGRAMS - SCANDINAVIA HOUSE CONTINUES TO BE A VITAL CENTER FOR CULTURAL PROGRAMS AND EXCHANGE BETWEEN THE U.S. AND THE FIVE NORDIC COUNTRIES. MORE THAN 100 EDUCATIONAL AND CULTURAL PROGRAMS WERE PRESENTED DURING THE YEAR. PUBLIC PROGRAMS INCLUDED WEEKLY SCREENINGS OF SCANDINAVIAN FILMS, MUSICAL PERFORMANCES, LECTURES, PRESENTATIONS, LANGUAGE CLASSES, EXHIBITIONS AND CHILDREN'S PROGRAM.
PUBLICATIONS - THE AMERICAN-SCANDINAVIAN FOUNDATION PUBLISHES VARIOUS CULTURAL AND EDUCATIONAL MATERIALS BOTH ONLINE AND IN PRINT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Edward P Gallagher President | OfficerTrustee | 35 | $253,666 |
Stephen Mcgrath Director Of Finance & Administ | 35 | $118,851 | |
Sally Yerkovich Director Of Educational Exchan | 35 | $105,095 | |
Lynn Carter Secretary | Officer | 14 | $26,738 |
Daphne L Davidson Co-Chairman Of The Board | OfficerTrustee | 1 | $0 |
Eugene V Kokot Co-Chairman Of The Board | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $106,120 |
| Fundraising events | $267,500 |
| Related organizations | $0 |
| Government grants | $110,375 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,639,567 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,123,562 |
| Total Program Service Revenue | $123,643 |
| Investment income | $1,518,345 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $278,421 |
| Net Gain/Loss on Asset Sales | $2,778,527 |
| Net Income from Fundraising Events | -$108,751 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $84,800 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,805,044 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $251,408 |
| Grants and other assistance to domestic individuals. | $895,660 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $310,700 |
| Compensation of current officers, directors, key employees. | $55,295 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,193,245 |
| Pension plan accruals and contributions | $78,692 |
| Other employee benefits | $222,595 |
| Payroll taxes | $110,703 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $34,320 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $74,291 |
| Fees for services: Other | $179,885 |
| Advertising and promotion | $200 |
| Office expenses | $187,276 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $365,838 |
| Travel | $25,277 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,385 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $560,817 |
| Insurance | $87,485 |
| All other expenses | $0 |
| Total functional expenses | $4,586,777 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $883,482 |
| Savings and temporary cash investments | $236,681 |
| Pledges and grants receivable | $30,250 |
| Accounts receivable, net | $172,693 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $70,438 |
| Prepaid expenses and deferred charges | $240,983 |
| Net Land, buildings, and equipment | $13,092,941 |
| Investments—publicly traded securities | $28,692,833 |
| Investments—other securities | $5,336,058 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $48,756,359 |
| Accounts payable and accrued expenses | $265,504 |
| Grants payable | $1,366,398 |
| Deferred revenue | $31,538 |
| 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 | $1,663,440 |
| Net assets without donor restrictions | $18,926,318 |
| Net assets with donor restrictions | $28,166,601 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $48,756,359 |
Grants Awarded
Over the last fiscal year, American-Scandinavian Foundation has awarded $231,408 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
FINLANDIA UNIVERSITY PURPOSE: Folk Arts | $35,175 |
UNITED NATIONS INTERNATIONAL SCHOOL PURPOSE: SCHOLARSHIP | $92,608 |
BUXTON IN BLOOM GRUE CHRUCH PROJECT PURPOSE: Folk Arts | $44,900 |
FOLKLORE VILLAGE FARM INC PURPOSE: Folk Arts | $26,725 |
NORDIC CENTER OF DULUTH PURPOSE: Folk Arts | $12,000 |
SOUTHERN METHODIST UNIVERSITY PURPOSE: Public Project | $20,000 |