Saudi Arabian U S Business Council Inc
- Assets
- $2.4m
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 19
- Location
- Vienna, VA
- Founding
- 08/1994
- Data as of
- 12/2022
- EIN
- 52-1874501
Organization Overview
Saudi Arabian U S Business Council Inc, operating under the name Us-Saudi Business Council, is located in Vienna, VA. The organization was established in 1994. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2022, Us-Saudi Business Council employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Us-Saudi Business Council is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2022, Us-Saudi Business Council generated $2.2m 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 (9.1%) each year. All expenses for the organization totaled $3.4m during the year ending 12/2022. 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
IMPROVING THE KNOWLEDGE AND UNDERSTANDING OF SAUDI ARABIA WITHIN THE US BUSINESS COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COUNCIL WORKED TO PROMOTE JOINT VENTURES AND TRADE OPPORTUNITIES IN SAUDI ARABIA, CONDUCTED RESEARCH FOR BOTH U.S. AND SAUDI COMPANIES, AND PROVIDED ADVICE ON OPERATING IN THE SAUDI MARKET. THE COUNCIL IDENTIFIED POTENTIAL BUSINESS PARTNERS FOR U.S. AND SAUDI COMPANIES, HELPED FACILITATE VISAS FOR BUSINESS TRAVEL TO SAUDI ARABIA, AND ARRANGED MEETINGS WITH COUNTERPART COMPANIES AND GOVERNMENT OFFICIALS. THE COUNCIL CONDUCTED 10 PROMOTIONAL EVENTS ABOUT THE SAUDI BUSINESS CLIMATE HIGHLIGHTING THE BUSINESS OPPORTUNITIES IN THE U.S. AND SAUDI MARKETS. IN ADDITION, THE COUNCIL ORGANIZED TWO TRADE MISSIONS TO SAUDI ARABIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Abdullah S Jum'ah Chairman | Trustee | 1 | $0 |
Steven Demetriou Chairman | Trustee | 1 | $0 |
Eng Mubarak Al-Khafrah Vice Chairman | Trustee | 1 | $0 |
Abdulaziz Alajaji Director (as Of 01/2022) | Trustee | 1 | $0 |
Khalid Al Abdulkarim Director | Trustee | 1 | $0 |
Walid Abukhaled Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,000,000 |
| 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 | $1,000,000 |
| Total Program Service Revenue | $1,163,554 |
| Investment income | $94,522 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$38,186 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,219,890 |
| 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 | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,028,157 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,180,456 |
| Pension plan accruals and contributions | $45,078 |
| Other employee benefits | $182,211 |
| Payroll taxes | $136,515 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $38,923 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,612 |
| Fees for services: Other | $12,705 |
| Advertising and promotion | $0 |
| Office expenses | $70,341 |
| Information technology | $172,933 |
| Royalties | $0 |
| Occupancy | $138,051 |
| Travel | $32,160 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $220,562 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,720 |
| Insurance | $23,048 |
| All other expenses | $0 |
| Total functional expenses | $3,353,332 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $67,374 |
| Savings and temporary cash investments | $357,258 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,993 |
| 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 | $63,912 |
| Net Land, buildings, and equipment | $7,296 |
| Investments—publicly traded securities | $1,834,208 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,415 |
| Total assets | $2,361,456 |
| Accounts payable and accrued expenses | $565,556 |
| Grants payable | $0 |
| Deferred revenue | $145,000 |
| 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 | $710,556 |
| Net assets without donor restrictions | $1,650,900 |
| 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 | $2,361,456 |