Kuwait-America Foundation
- Assets
- $18.8m
- Revenue
- $1.8m
- Investments
- $15.2m
- Employees
- 18
- Location
- Washington, DC
- Founding
- 07/1991
- Data as of
- 12/2022
- EIN
- 52-1730454
Organization Overview
Kuwait-America Foundation is located in Washington, DC. The organization was established in 1991. According to its NTEE Classification (Q20) the organization is classified as: Promotion of International Understanding, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2023, Kuwait-America Foundation employed 18 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kuwait-America 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 12/2022, Kuwait-America Foundation generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.0%) each year. All expenses for the organization totaled $2.7m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE FOUNDATION'S PRIMARY PURPOSE IS TO INITIATE EDUCATIONAL AND PHILANTHROPIC ACTIVITIES IN AMERICA WHICH RESULT IN A GREATER UNDERSTANDING OF THE CULTURE AND HISTORY OF KUWAIT AND ENHANCE RELATIONSHIPS BETWEEN THE PEOPLE OF THE TWO NATIONS.
Describe the Organization's Program Activity:
DISADVANTAGED PERSONS: THE FOUNDATION SUPPORTS CERTAIN PROGRAMS AND ORGANIZATIONS, SUCH AS THE UNITED NATIONS, WHEN IT COMES TO ADDRESSING THE NEEDS OF DISADVANTAGED PERSONS, SUCH AS THE HOMELESS, CHILDREN AT RISK, AND WOMEN IN NEED IN AND OUTSIDE OF THE UNITED STATES.
REDUCING THE VIOLENCE PROGRAM: THE FOUNDATION WORKS WITH AMERICAN CO-SPONSORS TO DEVELOP AND IMPLEMENT PROGRAMS RELATED TO REDUCING VIOLENCE IN THE UNITED STATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daniel Q Callister Trustee, Consultant | Trustee | 20 | $24,000 |
Hassan Al-Ebraheem PHD Chairman | OfficerTrustee | 5 | $0 |
Fawzi Al-Sultan Vice Chair | OfficerTrustee | 1 | $0 |
Issam Mohammed Al-Bahar Trustee | Trustee | 1 | $0 |
Qutayba Al-Ghanim Trustee | Trustee | 1 | $0 |
Abdullatif Al-Hamad Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,281,536 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,281,536 |
| Total Program Service Revenue | $0 |
| Investment income | $395,125 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $176,124 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,849,894 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,011,394 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $134,121 |
| Compensation of current officers, directors, key employees. | $80,135 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $345,688 |
| Pension plan accruals and contributions | $400 |
| Other employee benefits | $53,598 |
| Payroll taxes | $37,458 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $53,541 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $54,455 |
| Fees for services: Other | $27,529 |
| Advertising and promotion | $0 |
| Office expenses | $40,031 |
| Information technology | $34,237 |
| Royalties | $0 |
| Occupancy | $144,956 |
| Travel | $122,198 |
| 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 | $93,291 |
| Insurance | $14,253 |
| All other expenses | $0 |
| Total functional expenses | $2,670,700 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $142,583 |
| Savings and temporary cash investments | $919,503 |
| 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 | $2,483,423 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $15,213,434 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $470 |
| Total assets | $18,759,413 |
| Accounts payable and accrued expenses | $24,381 |
| 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 | $2,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,024,381 |
| Net assets without donor restrictions | $16,735,032 |
| Net assets with donor restrictions | $0 |
| 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 | $18,759,413 |
Grants Awarded
Over the last fiscal year, Kuwait-America Foundation has awarded $151,051 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
UNITED STATES ASSOCIATION FOR UNHCR PURPOSE: PROGRAM SUPPORT | $100,000 |
SOCIAL & ECONOMIC ACTION FOR LEBANON INC PURPOSE: BEIRUT EMERGENCY FUND | $51,051 |