Friends Of Ufm Inc
- Assets
- $72.2k
- Revenue
- $521.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Mclean, VA
- Founding
- 02/2011
- Data as of
- 12/2023
- EIN
- 27-2852264
Organization Overview
Friends Of Ufm Inc is located in Mclean, VA. The organization was established in 2011. According to its NTEE Classification (T50) the organization is classified as: Philanthropy, Charity & Voluntarism Promotion, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Friends Of Ufm 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 12/2023, Friends Of Ufm Inc generated $521.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (12.8%) each year. All expenses for the organization totaled $605.8k during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (11.3%) per year over the past 9 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT THE WORK OF UNIVERSIDAD FRANCISCO MARROQUIN OF GUATEMALA CITY, GUATEMALA ... ...TO TEACH AND DISSEMINATE THE ETHICAL, LEGAL, AND ECONOMIC PRINCIPLES OF A SOCIETY OF FREE AND RESPONSIBLE PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ITA SCHOLARSHIP PROGRAMS: THE ORGANIZATION PROVIDES FUNDING FOR SCHOLARSHIP PROGRAMS AT UFM (ITA IS A SPANISH ACRONYM MEANING "PROMOTING ACADEMIC TALENT") THAT SEEK TO IDENTIFY THE POOREST, MOST HIGHLY QUALIFIED & MOTIVATED STUDENTS IN GUATEMALA IN ORDER TO MAKE IT POSSIBLE FOR THEM TO EARN AN UNDERGRADUATE DEGREE. THE PROGRAMS INCLUDE SCHOLARSHIPS FOR: LAW STUDENTS; THE ADOLFO LAU SCHOLARSHIP PROGRAM NAMED AFTER A LONG-TIME UFM PROFESSOR OF ARCHITECTURE THAT PASSED AWAY IN 2012; THE INSTITUTE OF POLITICAL STUDIES & INTERNATIONAL RELATIONS (EPRI); THE MANUEL F. AYAU SOCIETY, WHICH WAS ESTABLISHED BY UFM TO HONOR THE LEGACY OF MANUEL F. AYAU & SUPPORTS SCHOLARS & PROFESSORSHIPS; & OTHER SCHOLARSHIPS.
ANTIGUA FORUM GATHERS POLITICAL REFORMERS, ENTREPRENEURS, AND EXPERTS FROM AROUND THE WORLD TO WORK ON PROJECTS THAT FIND REAL SOLUTIONS TO REAL PROBLEMS. AT EACH EVENT, PARTICIPANTS FROM UP TO TWO DOZEN COUNTRIES WORK IN SMALL GROUPS, GUIDED BY TRAINED FACILITATORS, TO HELP PROJECT OWNERS COME UP WITH CONCRETE ACTION PLANS. THERE ARE NO LECTURES, JUST PRODUCTIVE ENCOUNTERS.
OTHER PROGRAMS AND ONE-TIME PROJECTS: FRIENDS PROVIDES SUPPORT TO ADMINISTER OTHER PROGRAMS AND ONE-TIME OR SPECIAL PROJECT SUPPORT TO UFM. FRIENDS MADE GENERAL SUPPORT GRANTS OF $104,962 IN THE YEAR ENDED DECEMBER 31, 2023, TO UFM TO BE ADMINISTERED BY THE UFM PRESIDENT'S OFFICE AT THE DISCRETION OF THE UFM PRESIDENT. FRIENDS ALSO MADE A $46,000 GRANT IN THE YEAR ENDED DECEMBER 31, 2023, TO UFM TO SUPPORT THE GIS NEXT GREAT ADVENTURE ("NGA") FELLOWSHIP, IN HONOR TO GIANCARLO IBARGEN SEGOVIA, AND OPERATED BY UFM ACTONMBA AS AN OPPORTUNITY TO DIFFERENTIATE UFM FROM ALL OTHER UNIVERSITIES THAT CLAIM TO SUPPORT ENTREPRENEURSHIP. IN ADDITION, DURING 2023, FRIENDS MADE $15,893 IN OTHER SMALL GRANTS TO UFM FOR OTHER PROGRAMS AND PROJECTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vidar Jorgensen Director | Trustee | 2 | $0 |
Daniel Green Treasurer/secretary | OfficerTrustee | 2 | $0 |
Rodolfo Milani President | OfficerTrustee | 2 | $0 |
Hugo Diaz Director | Trustee | 2 | $0 |
Luis Antonio Samayoa Director | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $953 |
| Membership dues | $0 |
| Fundraising events | $3,678 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $514,987 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $519,618 |
| Total Program Service Revenue | $0 |
| Investment income | $74 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $1,782 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $521,474 |
| 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 | $527,388 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $48,810 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $18,000 |
| Advertising and promotion | $0 |
| Office expenses | $7,174 |
| Information technology | $2,694 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $686 |
| All other expenses | $1,074 |
| Total functional expenses | $605,826 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $64,531 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $5,559 |
| 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 | $2,084 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $72,174 |
| Accounts payable and accrued expenses | $14,922 |
| Grants payable | $35,118 |
| 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 | $50,040 |
| Net assets without donor restrictions | $15,098 |
| Net assets with donor restrictions | $7,036 |
| 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 | $72,174 |