Fabsit
- Assets
- $1.0m
- Revenue
- $365.6k
- Investments
- $0.0
- Employees
- 1
- Location
- Boston, MA
- Founding
- 05/1987
- Data as of
- 05/2022
- EIN
- 22-2789574
Organization Overview
Fabsit is located in Boston, MA. The organization was established in 1987. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fabsit 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 05/2022, Fabsit generated $365.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.1% each year. All expenses for the organization totaled $346.4k during the year ending 05/2022. While expenses have increased by 7.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FOSTER EXCELLENCE IN SECONDARY EDUCATION AND HEALTH CARE IN TURKEY THROUGH SUPPORT THE AMERICAN BOARD SCHOOLS AND HOSPITAL AND THROUGH THEM, TO INSTILL VALUES AND PROVIDE KNOWLEDGE TO HELP YOUNG MEN AND WOMEN BECOME CONTEMPORARY LEADERS CONTRIBUTING TO THE DEVELOPMENT OF TURKEY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ESTABLISHED TO PROVIDE FINANCIAL AND EDUCATIONAL ASSISTANCE TO SCHOOLS AND HOSPITALS IN TURKEY. THE EXPENDITURES ALLOCATED TO PROGRAM SERVICES WERE ACTUAL GRANTS AND AN ALLOCATION OF ALL OTHER EXPENSES BASED ON ESTIMATED TIME.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ismail Ekmekci President | OfficerTrustee | 5 | $0 |
Balca Korkut Gok Secretary | OfficerTrustee | 3 | $0 |
Kerem Turunc Vice President | OfficerTrustee | 3 | $0 |
Tarik Mughisuddin Treasurer | OfficerTrustee | 3 | $0 |
Hakan Ozkabas Director | Trustee | 3 | $0 |
Barclay Shepard Director | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $175,700 |
| All other contributions, gifts, grants, and similar amounts not included above | $106,308 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $282,008 |
| Total Program Service Revenue | $46,000 |
| Investment income | $7,825 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $29,767 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $365,600 |
| 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 | $243,795 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $60,000 |
| Pension plan accruals and contributions | $10,000 |
| Other employee benefits | $0 |
| Payroll taxes | $4,833 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,400 |
| Advertising and promotion | $0 |
| Office expenses | $1,549 |
| Information technology | $785 |
| Royalties | $0 |
| Occupancy | $660 |
| Travel | $5,789 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,816 |
| All other expenses | $0 |
| Total functional expenses | $346,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $27,777 |
| Savings and temporary cash investments | $16,910 |
| Pledges and grants receivable | $0 |
| 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 | $1,144 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $961,423 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,007,254 |
| Accounts payable and accrued expenses | $4,300 |
| Grants payable | $0 |
| 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 | $4,300 |
| Net assets without donor restrictions | $899,672 |
| Net assets with donor restrictions | $103,282 |
| 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 | $1,007,254 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Fabsit has recieved totaling $7,326.
| Awarding Organization | Amount |
|---|---|
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $7,303 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $23 |
Endowment Analysis
| Beg. Balance | $1,026,652 |
| Earnings | -$108,520 |
| Net Contributions | $238,213 |
| Grants | $243,795 |
| Ending Balance | $912,550 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Friends Of The Israel Defense Forces New York, NY | $197,064,966 | $87,861,352 |
Central Fund Of Israel Cedarhurst, NY | $25,861,859 | $55,454,981 |
American Friends Of Yeshiva Dmir Inc Brooklyn, NY | $9,703,912 | $39,700,022 |
Acumen Fund Inc New York, NY | $151,257,086 | $30,454,797 |
Armenian General Benevolent Union New York, NY | $296,944,132 | $43,918,491 |
Root Capital Inc Cambridge, MA | $84,001,332 | $21,396,934 |
Jerusalem Foundation Inc New York, NY | $41,082,907 | $16,301,645 |
American Society Of The University Of Haifa New York, NY | $7,655,758 | $11,239,823 |
Tibet Fund New York, NY | $8,176,885 | $9,507,647 |
Friends Of Ir David Inc New York, NY | $1,931,131 | $8,657,861 |
Yeshivas Chasidei Belz-Belz Institutions In Israel Brooklyn, NY | $1,824,863 | $9,693,412 |
United Board For Christian Higher Education In Asia New York, NY | $134,521,171 | $6,638,102 |