Albanian-American Development Foundation
- Assets
- $216.1m
- Revenue
- $9.3m
- Investments
- $208.3m
- Employees
- 0
- Location
- New York, NY
- Founding
- 01/2011
- Data as of
- 12/2018
- EIN
- 27-2782213
Organization Overview
Albanian-American Development Foundation is located in New York, NY. The organization was established in 2011. According to its NTEE Classification (Q33) the organization is classified as: International Relief, 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. Albanian-American Development 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 12/2018, Albanian-American Development Foundation generated $9.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 23.5% each year . All expenses for the organization totaled $7.0m during the year ending 12/2018. While expenses have increased by 17.6% per year over the past 4 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
2018
Describe the Organization's Mission:
Part 3 - Line 1
IT IS THE FOUNDATION'S MISSION TO FACILITATE THE DEVELOPMENT OF A SUSTAINABLE PRIVATE SECTOR ECONOMY AND A DEMOCRATIC SOCIETY IN ALBANIA, AND TO CONTRIBUTE TO STABILITY IN SOUTHEASTERN EUROPE. SPECIFICALLY, THE FOUNDATION WILL SPONSOR THE FOLLOWING PROGRAMS TO FURTHER ITS MISSION: EDUCATION FOR SUSTAINABLE DEVELOPMENT; ENTREPRENEURSHIP; LEADERSHIP DEVELOPMENT; AND SUPPORT FOR CULTURAL TOURISM AND ECOTOURISM.THE FOUNDATION WILL ESTABLISH A CENTER IN TIRANA WHICH WILL PROVIDE A LOCAL BASE OF OPERATIONS FOR THE FOUNDATION, OFFER ACCESS TO MATERIALS RELEVANT TO ITS AREAS OF ACTIVITY, AND PROVIDE A CENTRAL SITE FOR THE FOUNDATION'S SERVICES AND PROGRAMS. IT WILL ALSO SERVE AS A SYMBOL OF UNITED STATES COMMITMENT AND CONTRIBUTIONS TO THE DEMOCRACY AND WELL-BEING OF THE PEOPLE OF ALBANIA.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPMENT OF PRIVATE SECTOR OF COUNTRY OF ALBANIA; THROUGH LOANS-GRANTS-EQUITY INVESTMENTS-FEASIBILITY STUDIES- TECHNICAL ASSISTANCE-TRAINING-INSURANCE-AND OTHER
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Martin Mata Co-Ceo | Officer | 32 | $124,712 |
Aleksander Sarapuli Co-Ceo | Officer | 32 | $124,712 |
Florida Qello Secretary Of The Board | Officer | 32 | $87,209 |
Michael D Granoff Chairman | Trustee | 2 | $0 |
Douglas G Carlston Board Member | Trustee | 2 | $0 |
Cafo Boga Board Member | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $5,000,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,000,000 |
| Total Program Service Revenue | $0 |
| Investment income | $4,877,877 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$614,855 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,264,607 |
| 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 | $389,993 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $336,633 |
| Compensation of current officers, directors, key employees. | $336,633 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $672,423 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $50,426 |
| Payroll taxes | $0 |
| Fees for services: Management | $26,634 |
| Fees for services: Legal | $33,224 |
| Fees for services: Accounting | $17,716 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $452,055 |
| Fees for services: Other | $598,562 |
| Advertising and promotion | $19,312 |
| Office expenses | $129,931 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $69,360 |
| Travel | $77,193 |
| 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 | $414,727 |
| Depreciation, depletion, and amortization | $121,033 |
| Insurance | $32,599 |
| All other expenses | $0 |
| Total functional expenses | $7,013,354 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,844,324 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $3,151,688 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $208,265,208 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $803,805 |
| Total assets | $216,065,025 |
| Accounts payable and accrued expenses | $1,372,004 |
| 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 | $217,235 |
| Total liabilities | $1,589,239 |
| Unrestricted restricted net Assets | $214,475,786 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $214,475,786 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Albanian-American Development Foundation has recieved totaling $15,408,503.
| Awarding Organization | Amount |
|---|---|
Albanian-American Enterprise Fund New York, NY PURPOSE: ASSIST ALBANIA IN ITS TRANSITION TO A MARKET ECONOMY IN ACCORDANCE WITH EXEMPT PURPOSE AND GRANT AGREEMENTS. | $15,000,000 |
Albanian-American Enterprise Fund New York, NY PURPOSE: ASSIST ALBANIA IN ITS TRANSITION TO A MARKET ECONOMY IN ACCORDANCE WITH EXEMPT PURPOSE AND GRANT AGREEMENTS. | $408,503 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tov Vchesed Foundation Inc Monsey, NY | $610,324 | $14,594,457 |
Kolel Shomre Hachomos Of Jerusalem Inc Brooklyn, NY | $8,417,391 | $12,158,295 |
Marys Meals Usa Inc Bloomfield, NJ | $3,234,334 | $9,784,357 |
We Charity Williamsville, NY | $15,990,436 | $8,510,977 |
Big Heart Foundation Inc Clifton, NJ | $8,754,377 | $8,531,455 |
Grassroots International Inc Boston, MA | $13,759,969 | $12,517,391 |
Afsnc Inc New York, NY | $3,029,853 | $9,756,195 |
Alima Usa Inc New York, NY | $6,341,096 | $6,115,397 |
Metro World Child Foundation Inc Brooklyn, NY | $2,538,697 | $8,020,281 |
World Spiritual Awareness Forum Inc Roslyn Heights, NY | $803,724 | $7,990,339 |
Refugepoint Inc Boston, MA | $13,622,053 | $13,092,298 |
Albanian-American Development Foundation New York, NY | $216,065,025 | $9,264,607 |