Turkish Philanthropy Funds Inc
- Assets
- $15.9m
- Revenue
- $4.9m
- Investments
- $0.0
- Employees
- 5
- Location
- New York, NY
- Founding
- 12/2007
- Data as of
- 06/2022
- EIN
- 20-8392006
Organization Overview
Turkish Philanthropy Funds Inc is located in New York, NY. The organization was established in 2007. According to its NTEE Classification (Q12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 06/2022, Turkish Philanthropy Funds Inc employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Turkish Philanthropy Funds 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 06/2022, Turkish Philanthropy Funds Inc generated $4.9m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 12.3% each year . All expenses for the organization totaled $3.7m during the year ending 06/2022. While expenses have increased by 6.9% per year over the past 6 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 2017, Turkish Philanthropy Funds Inc has awarded 58 individual grants totaling $1,917,295. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S MISSION IS HELPING INDIVIDUAL AND CORPORATE DONORS REALIZE THEIR PHILANTHROPIC GOALS TO MEET COMMUNITY NEEDS IN THE UNITED STATES OF AMERICA AND IN TURKEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRANSITIONARY GRANTMAKING: TPF PARTNERS WITH NON-PROFIT ORGANIZATIONS IN TURKEY WHICH CAN RAISE FUNDS IN THE USA THROUGH TPF (ONLINE, ETC). THESE FUNDS ARE THEN GRANTED TO THESE ORGANIZATIONS WITH APPROVAL FROM THE BOARD.
DONOR-ADVISED GRANTMAKING: TPF OFFERS CERTAIN FUND TYPES INCLUDING ADVISED DESIGNATED AND FRIENDS OF FUNDS THAT ALLOW DONORS TO REMAIN ENGAGED IN THE GRANTMAKING PROCESS BY SUGGESTING USES FOR THEIR GIFT. DONORS MAKE GRANT RECOMMENDATIONS FOR A GRANT TO A SPECIFIC ORGANIZATION OR A PROJECT ONCE TPF'S STAFF HAVE ENSURED THE RECIPIENT ORGANIZATION IS A 501(C)(3) EQUIVALENT (FOR TURKEY) OR IN GOOD STANDING (FOR U.S.) AND THAT THE ORGANIZATION IS FINANCIALLY SOUND AND HAS FILED THE NECESSARY TAX DOCUMENTS. TPF'S BOARD OF DIRECTORS REVIEWS AND APPROVES THE GRANT. GRANTS ARE MONITORED AND EVALUATED BASED ON TPF'S GRANT MANAGEMENT PROCEDURES.
DISCRETIONARY GRANTMAKING: TPF PARTNERS WITH NON-PROFIT ORGANIZATIONS IN TURKEY WHICH CAN SUBMIT APPLICATIONS TO BE CONSIDERED FOR A GRANT IN THE AREAS OF EDUCATION, GENDER EQUALITY, SOCIAL AND ECONOMIC DEVELOPMENT, AND DISASTER RELIEF. ALL GRANTS ARE APPROVED BY THE BOARD OF DIRECTORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mehmet Kirdar Chairman | OfficerTrustee | 8 | $0 |
Maria Kupcu Figueroa Co-Vice-Chair | OfficerTrustee | 4 | $0 |
Osman Coskun Kurtulus Co-Vice-Chair | OfficerTrustee | 4 | $0 |
Lawrence Kaye Secretary | OfficerTrustee | 4 | $0 |
Civan Gokay Treasurer | Trustee | 4 | $0 |
Didem Altop Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $677,200 |
| Related organizations | $0 |
| Government grants | $70,357 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,994,833 |
| Noncash contributions included in lines 1a–1f | $12,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,742,390 |
| Total Program Service Revenue | $0 |
| Investment income | $119,438 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $108,670 |
| Net Income from Fundraising Events | -$57,432 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,913,066 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $799,263 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,794,089 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $254,954 |
| Compensation of current officers, directors, key employees. | $162,724 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $200,571 |
| Pension plan accruals and contributions | $6,257 |
| Other employee benefits | $13,416 |
| Payroll taxes | $33,518 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $93,896 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,639 |
| Fees for services: Other | $16,364 |
| Advertising and promotion | $62,742 |
| Office expenses | $32,708 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,993 |
| Travel | $10,094 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $207,060 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $14,056 |
| All other expenses | $0 |
| Total functional expenses | $3,711,745 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,166,889 |
| Pledges and grants receivable | $105,561 |
| 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 | $51,385 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $13,621,793 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $15,945,628 |
| Accounts payable and accrued expenses | $116,601 |
| Grants payable | $83,509 |
| 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 | $200,110 |
| Net assets without donor restrictions | $9,579,144 |
| Net assets with donor restrictions | $6,166,374 |
| 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 | $15,945,628 |
Grants Awarded
Over the last fiscal year, Turkish Philanthropy Funds Inc has awarded $453,468 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
MANHATTAN COLLEGE PURPOSE: EQUALITY & EQUITY IN EDUCATION | $26,600 |
NEUROSURGERY RESEARCH & EDUCATION FOUNDATION CO V PURPOSE: HEALTH INNOVATIONS | $25,000 |
ROBERT COLLEGE FOUNDATION PURPOSE: EQUALITY & EQUITY IN EDUCATION | $10,950 |
GEORGIA UNIVERSITY FOUNDATION PURPOSE: EQUALITY & EQUITY IN EDUCATION | $8,000 |
TRUSTEES OF ROBERT COLLEGE OF ISTANBUL PURPOSE: EQUALITY & EQUITY IN EDUCATION | $10,000 |
THE EVERGREEN SCHOOL PURPOSE: EDUCATIONAL SUPPORT | $12,896 |