Sofia American Schools Inc
- Assets
- $19.1m
- Revenue
- $9.2m
- Investments
- $0.0
- Employees
- 39
- Location
- New York, NY
- Founding
- 12/1947
- Data as of
- 12/2022
- EIN
- 13-6400773
Organization Overview
Sofia American Schools Inc is located in New York, NY. The organization was established in 1947. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2022, Sofia American Schools Inc employed 39 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sofia American Schools 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 12/2022, Sofia American Schools Inc generated $9.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $9.2m during the year ending 12/2022. While expenses have increased by 5.6% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE PRIMARY PURPOSE OF THE ORGANIZATION IS TO PROVIDE EDUCATION FOR BULGARIAN YOUTHS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES THE AMERICAN COLLEGE OF SOFIA, AN INDEPENDENT, HIGHLY SELECTIVE, CO-EDUCATIONAL NOT-FOR-PROFIT SECONDARY SCHOOL IN BULGARIA. WITH ENGLISH AS THE PRIMARY LANGUAGE OF INSTRUCTION, THE COLLEGE OFFERS A RIGOROUS CORE CURRICULUM ENRICHED BY AN ARRAY OF ELECTIVE COURSES AND EXTRA-CURRICULAR ACTIVITIES. WHILE THE COLLEGE'S PRIMARY MISSION IS TO EDUCATE BULGARIAN YOUTH, IT EMBRACES QUALIFIED STUDENTS OF ALL NATIONALITIES, RACES, AND FAITHS IN BELIEF THAT A WIDE VARIETY OF STUDENTS WILL ENRICH EDUCATIONAL OPPORTUNITIES FOR ALL. THE COLLEGE INTEGRATES THE VALUES AND BEST PRACTICES OF AMERCAN PEDAGOGY WITH THE RICH EDUCATIONAL TRADITIONS OF BULGARIA AND EUROPE. IT ASPIRES TO PREPARE STUDENTS TO MEET THE MOST DEMANDING CRITERIA OF ANY UNIVERSITY IN THE WORLD. THE COLLEGE ENABLES STUDENTS TO DEVELOP CRITICAL THINKING SKILLS, PARTICIPATE IN RESPECTFUL EXCHANGES OF DIVERSE OPINIONS, AND BECOME ENTHUSIASTIC LIFELONG LEARNERS. IN SO DOING, STUDENTS WILL LEARN TO DEMONSTRATE SENSITIVITY TO THE GLOBAL HUMAN CONDITION AND THE ENVIRONMENT, CHERISH DEMOCRATIC VALUES, AND BECOME RESPONSIBLE CITIZENS AND LEADERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Emily Sargent-Beasley President | Officer | 40 | $90,000 |
Richard Ewing President | Officer | 40 | $90,000 |
Ann Ferren Trustee | Trustee | 1 | $0 |
Avis Bohlen Trustee | Trustee | 1 | $0 |
Borislav Stefanov Trustee | Trustee | 1 | $0 |
Boris Statev Trustee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Veselinov Service Ltd Maintenance | 12/30/22 | $127,128 |
Oldes Ltd Catering | 12/30/22 | $117,648 |
Kamo Build Group Ltd Construction | 12/30/22 | $433,231 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $509,661 |
| All other contributions, gifts, grants, and similar amounts not included above | $682,271 |
| Noncash contributions included in lines 1a–1f | $56,157 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,191,932 |
| Total Program Service Revenue | $7,925,767 |
| Investment income | $50,561 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,243,375 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,100,990 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $340,882 |
| Compensation of current officers, directors, key employees. | $136,353 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,186,374 |
| Pension plan accruals and contributions | $37,534 |
| Other employee benefits | $216,547 |
| Payroll taxes | $747,171 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,596 |
| Fees for services: Accounting | $108,399 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $107,981 |
| Advertising and promotion | $37,336 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $840,103 |
| Travel | $56,749 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,864 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $599,601 |
| Insurance | $0 |
| All other expenses | $138,300 |
| Total functional expenses | $9,235,467 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,158,946 |
| Savings and temporary cash investments | $2,184,401 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $95,677 |
| 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 | $206,786 |
| Net Land, buildings, and equipment | $12,900,763 |
| Investments—publicly traded securities | $1,532,252 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $19,078,825 |
| Accounts payable and accrued expenses | $1,018,163 |
| Grants payable | $0 |
| Deferred revenue | $1,298,750 |
| 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 | $439,032 |
| Total liabilities | $2,755,945 |
| Net assets without donor restrictions | $14,989,750 |
| Net assets with donor restrictions | $1,333,130 |
| 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 | $19,078,825 |