World Federation Of Free Latvians
- Assets
- $263.2k
- Revenue
- $282.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Rockville, MD
- Founding
- 02/1983
- Data as of
- 12/2022
- EIN
- 52-1037082
Organization Overview
World Federation Of Free Latvians is located in Rockville, MD. The organization was established in 1983. According to its NTEE Classification (Q30) the organization is classified as: International Development, 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. World Federation Of Free Latvians 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 12/2022, World Federation Of Free Latvians generated $282.0k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $275.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.9%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT AND ENCOURAGE THE CONTINUED DEVELOPMENT OF DEMOCRACY IN LATVIA AND TO PROVIDE LEADERSHIP AND COORDINATION OF EDUCATIONAL AND CULTURAL ACTIVITIES TO LATVIA
Describe the Organization's Program Activity:
Part 3 - Line 4a
STRENGTHENING DEMOCRACY AND ECONOMIC PROCESSES IN LATVIA. REGULAR COORDINATION WITH NGO AND GOVERNMENTAL AGENCIES IN LATVIA ON CURRENT ISSUES, PARTICULARLY ON LATVIANS OUTSIDE LATVIA. COLLECTION AND DISSEMINATION OF INFORMATION REGARDING LATVIA'S HISTORY AND ASSISTING INTEGRATION INTO INTERNATIONAL INSTITUTIONS. EXTENSIVE EFFORTS TO BUILD UPON CONTACTS DEVELOPED AT 2013 WORLD LATVIAN ECONOMICS AND INNOVATIONS FORUM LED TO A MAJOR FORUM IN 2015 AIMED AT PROMOTING LATVIAN DIASPORA ENGAGEMENT IN LATVIA'S DEVELOPMENT. SINCE THEN THE FORUM HAS BECOME AN ANNUAL EVENT, AND HAS BEEN HELD IN MELBOURNE, AUSTRALIA IN 2016, IN CHICAGO, UNITED STATES IN 2017, IN VALMIERA, LATVIA IN 2018 AND IN 2019, AND SINCE 2020 ANNUALLY IN RIGA, LATVIA.
COORDINATE EDUCATIONAL AND CULTURAL ACTIVITIES OUTSIDE LATVIA, PROMOTE THE LEARNING OF THE LATVIAN LANGUAGE, CULTURE AND HISTORY; ASSIST PARTICIPATION IN MULTIGENERATIONAL CULTURAL SEMINARS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Blumberg President | OfficerTrustee | 25 | $0 |
Martin Andersons Vice President | OfficerTrustee | 25 | $0 |
Elisa Freimanis Board Member | Trustee | 1 | $0 |
Valda Grinberga Board Member | Trustee | 1 | $0 |
Diana Karklins Board Member | Trustee | 1 | $0 |
Fritz Kristbergs Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $21,979 |
| Fundraising events | $0 |
| Related organizations | $180,000 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $31,646 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $233,625 |
| Total Program Service Revenue | $42,614 |
| Investment income | $5,749 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $281,988 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $12,050 |
| Grants and other assistance to domestic individuals. | $2,200 |
| Grants and other assistance to Foreign Orgs/Individuals | $24,455 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $28,345 |
| Compensation of current officers, directors, key employees. | $7,086 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $37,108 |
| Pension plan accruals and contributions | $6,254 |
| Other employee benefits | $0 |
| Payroll taxes | $53,048 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,363 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $13,348 |
| Information technology | $3,750 |
| Royalties | $0 |
| Occupancy | $8,027 |
| Travel | $15,543 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,052 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $916 |
| Insurance | $6,842 |
| All other expenses | $0 |
| Total functional expenses | $275,004 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $209,731 |
| 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 | $8,694 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $13,693 |
| Investments—publicly traded securities | $31,116 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $263,234 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $29,219 |
| 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 | $29,219 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $234,015 |
| 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 | $263,234 |