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 12/2021, Friends Of Ufm Inc generated $1.2m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.4%) each year. All expenses for the organization totaled $1.7m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.6%) per year over the past 7 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
2021
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
UFM MADRID CAMPUS: IN 2018, UFM BEGAN OPERATIONS IN MADRID, SPAIN, WHERE IT OPERATES AS A FOREIGN UNIVERSITY. THE ORGANIZATION HAS A PROGRAM TO SUPPORT THIS CAMPUS. AS CLASSES BEGAN IN SEPTEMBER 2018, UFM BECAME THE ONLY LATIN AMERICAN UNIVERSITY AUTHORIZED TO OPERATE IN EUROPE. IT IS LOCATED IN ONE OF THE MOST POPULAR COUNTRIES FOR STUDY ABROAD AND ONE OF THE WORLD'S MOST COMPETITIVE ACADEMIC MARKETS FOR BUSINESS ADMINISTRATION AND ENTREPRENEURSHIP. AS A FOREIGN UNIVERSITY OPERATING IN SPAIN, THE OPPORTUNITIES TO DEVELOP NEW EDUCATIONAL PRODUCTS THAT ADDRESS THE IMPORTANCE OF LIBERTY IN ALL ITS MANIFESTATIONS ARE IMMENSE. FRIENDS OF UFM AIMS TO MAKE UFM MADRID A HIGH-PROFILE SHOWCASE FOR A DISRUPTIVE AND REPLICABLE EDUCATION MODEL, IN WHICH BOTH LEARNING PROCESS AND CONTENT ...CONTINUED ON SCHEDULE O CONTINUED FROM PAGE 2... REFLECT THE PRINCIPLES OF INDIVIDUAL FREEDOM, FREE MARKETS, AND PERSONAL RESPONSIBILITY. UFM ASPIRES TO BECOME THE EUROPEAN HUB FOR ALL WHO PROMOTE THESE PRINCIPLES. UFM MADRID IS A CHANCE TO EXPLORE AND EVOLVE WAYS TO REACH NEW AUDIENCES AND TO BE MORE EFFECTIVE IN HOW WE COMMUNICATE IDEAS. IT IS ALSO AN OPPORTUNITY TO RE-INTRODUCE CLASSICAL LIBERALISM INTO THE EDUCATIONAL CULTURE OF EUROPE. BY OFFERING YOUNG PEOPLE A SOLID EDUCATION THAT INSPIRES THEM TO SEEK A LIFE OF MEANING GROUNDED IN INDIVIDUAL LIBERTY AND RESPONSIBILITY, WE ASPIRE TO FORGE A CRITICAL MASS OF THOUGHT LEADERS, IN ALL SPHERES OF LIFE, WHO ARE COMMITTED TO PROMOTING AND DEFENDING THE VALUES THAT SUSTAIN A FREE SOCIETY.
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 AND 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 AND INTERNATIONAL RELATIONS (EPRI); THE MANUEL F. AYAU SOCIETY, WHICH WAS ESTABLISHED BY UFM TO HONOR THE LEGACY OF MANUEL F. AYAU AND SUPPORTS SCHOLARS AND PROFESSORSHIPS; SUMMER PROGRAMS AT UFM'S MADRID CAMPUS AND OTHER LOCATIONS; AND OTHER DONOR-RESTRICTED SCHOLARSHIPS.
LEARNING INNOVATION CENTER (FORMERLY ONGOING LEARNING): THIS IS A PROGRAM THAT WAS RENAMED IN DECEMBER 2021 WHERE FRIENDS SUPPORTS THE ORGANIZATION'S CENTRO HENRY HAZLITT TO CONDUCT WORKSHOPS FOR UFM FACULTY AND STUDENTS ON DIFFERENT TEACHING, COLLABORATION, AND FACILITATION METHODOLOGIES.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Daniel Green Treasurer/secretary | OfficerTrustee | 2 | $0 |
Rodolfo Milani President | OfficerTrustee | 2 | $0 |
Vidar Jorgensen Director | Trustee | 2 | $0 |
Statement of Revenue | |
---|---|
Federated campaigns | $3,247 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $1,203,949 |
Noncash contributions included in lines 1a–1f | $10,886 |
Total Revenue from Contributions, Gifts, Grants & Similar | $1,207,196 |
Total Program Service Revenue | $1,700 |
Investment income | $0 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$225 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $1,208,671 |
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 | $1,562,816 |
Benefits paid to or for members | $0 |
Compensation of current officers, directors, key employees. | $50,000 |
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 | $3,422 |
Fees for services: Management | $0 |
Fees for services: Legal | $0 |
Fees for services: Accounting | $51,896 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $32,736 |
Advertising and promotion | $0 |
Office expenses | $1,281 |
Information technology | $5,802 |
Royalties | $0 |
Occupancy | $0 |
Travel | $141 |
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 | $1,001 |
All other expenses | $688 |
Total functional expenses | $1,709,783 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $103,216 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $26,840 |
Accounts receivable, net | $25 |
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 | $1,343 |
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 | $131,424 |
Accounts payable and accrued expenses | $14,698 |
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 | $14,698 |
Net assets without donor restrictions | $55,130 |
Net assets with donor restrictions | $61,596 |
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 | $131,424 |
Over the last fiscal year, we have identified 1 grants that Friends Of Ufm Inc has recieved totaling $60,000.
Awarding Organization | Amount |
---|---|
Atlas Economic Research Foundation Arlington, VA PURPOSE: Economic Education | $60,000 |
Beg. Balance | $6,250 |
Earnings | -$225 |
Admin Expense | $152,729 |
Net Contributions | $1,218,552 |
Grants | $1,037,092 |
Ending Balance | $34,756 |
Organization Name | Assets | Revenue |
---|---|---|
Players Philanthropy Fund Towson, MD | $12,344,741 | $23,235,628 |
Better Medicare Alliance Inc Washington, DC | $3,588,076 | $11,134,798 |
Piedmont Triad Charitable Foundation Greensboro, NC | $5,589,144 | $15,418,213 |
The Philanthropy Roundtable Inc Washington, DC | $16,718,572 | $10,468,910 |
Council On Foundations Inc Washington, DC | $28,475,981 | $12,025,472 |
Independent Sector Washington, DC | $46,005,638 | $15,271,435 |
Capital Research Center Washington, DC | $10,585,659 | $6,083,008 |
Rethink Charity Mineral, VA | $1,112,987 | $5,137,197 |
Phi Delta Kappa International Inc Arlington, VA | $1,144,067 | $2,025,770 |
National Center For Family Philanthropy Inc Washington, DC | $7,834,627 | $8,108,744 |
Marlene And Spencer Hays Foundation Nashville, TN | $119,169,427 | $6,377,944 |
Moments Of Hope Outreach Studley, VA | $714,742 | $2,126,416 |