ROMANIAN-AMERICAN FOUNDATION: Form 990, tax year 2024
View the entire original 990 at ProPublica ↗
- Organization
- ROMANIAN-AMERICAN FOUNDATION (EIN 93-2369284)
- Tax period
- 2024-01-01 to 2024-12-31
- Filed
- 2025-11-11
- IRS object ID
- 202543159349301624
- Schema version
- 2024v5.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule B
- Schedule D
- Schedule F
- Schedule I
- Schedule L
- Schedule M
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2025-11-11T08:59:29-06:00 | ReturnTs |
| Tax Period End | 2024-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 872525370 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | CITRIN COOPERMAN ADVISORS LLC | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 500 EXCHANGE STREET SUITE 9-100 | AddressLine1Txt |
| City | PROVIDENCE | CityNm |
| State Abbreviation | RI | StateAbbreviationCd |
| ZIP | 02903 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2024-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 932369284 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ROMANIAN-AMERICAN FOUNDATION | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ROMA | BusinessNameControlTxt |
| Phone | 9735099509 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 227 INWOOD AVENUE | AddressLine1Txt |
| City | MONTCLAIR | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 07043 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ARTHUR HICKOK | PersonNm |
| Person Title | SECRETARY | PersonTitleTxt |
| Phone | 9735099509 | PhoneNum |
| Signature | 2025-11-10 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | AMANDA ADAMS | PreparerPersonNm |
| PTIN | P00748038 | PTIN |
| Phone | 4014214800 | PhoneNum |
| Preparation | 2025-11-10 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2024 | TaxYr |
| Build TS | 2025-03-06 01:10:19Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Change | Yes (X) | AddressChangeInd |
| Name Change | Yes (X) | NameChangeInd |
| Principal Officer | BOGDAN VERNESCU | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 227 INWOOD AVENUE | AddressLine1Txt |
| City | MONTCLAIR | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 07043 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $208,995,834 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | RAFONLINE.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2023 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | TO STRENGTHEN AND PROMOTE CONDITIONS FOR A SUSTAINABLE MARKET ECONOMY AND A DEMOCRATIC SOCIETY THAT PROVIDES ACCESS TO OPPORTUNITY FOR ALL SEGMENTS OF THE ROMANIAN SOCIETY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 13 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 13 | VotingMembersIndependentCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Total Volunteers | 14 | TotalVolunteersCnt |
| Total Gross UBI | -$144,800 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $2,318,999 | PYContributionsGrantsAmt |
| CY Contributions Grants | $159,016,692 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $0 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $0 | CYProgramServiceRevenueAmt |
| PY Investment Income | $0 | PYInvestmentIncomeAmt |
| CY Investment Income | $11,779,827 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $2,318,999 | PYTotalRevenueAmt |
| CY Total Revenue | $170,796,519 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $5,521,185 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $0 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $80,000 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $10,541 | PYOtherExpensesAmt |
| CY Other Expenses | $2,178,256 | CYOtherExpensesAmt |
| PY Total Expenses | $10,541 | PYTotalExpensesAmt |
| CY Total Expenses | $7,779,441 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $2,308,458 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $163,017,078 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $2,308,458 | TotalAssetsBOYAmt |
| Total Assets EOY | $175,123,528 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $0 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $2,007,760 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $2,308,458 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $173,115,768 | NetAssetsOrFundBalancesEOYAmt |
| Mission | TO STRENGTHEN AND PROMOTE CONDITIONS FOR A SUSTAINABLE MARKET ECONOMY AND A DEMOCRATIC SOCIETY THAT PROVIDES ACCESS TO OPPORTUNITY FOR ALL SEGMENTS OF THE ROMANIAN SOCIETY. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $6,448,295 | ExpenseAmt |
| Grant | $5,521,185 | GrantAmt |
| Desc | IN ORDER TO ASSIST IN BUILDING AND MAINTAINING A MARKET ECONOMY AND DEMOCRATIC SOCIETY IN ROMANIA, THE FOUNDATION CONTRIBUTES TO DEVELOPING ENTREPRENEURSHIP, IMPROVING EDUCATION, PROMOTING THE SPIRIT OF PHILANTHROPY IN ROMANIA AND FOSTERING INNOVATION. | Desc |
| Total Program Service Expenses | $6,448,295 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | Yes (1) | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | Yes (1) | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | Yes (1) | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | 0 | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | Yes (1) | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | Yes (1) | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | 0 | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | Yes (1) | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | Yes (1) | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 11 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 0 | EmployeeCnt |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | Yes (1) | ForeignFinancialAccountInd |
| Foreign Country | RO | ForeignCountryCd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 13 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 13 | IndependentVotingMemberCnt |
| Family Or Business Rln | Yes (1) | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | 0 | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| States Where Copy Of Return Is Fld | DE | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | BOGDAN GIURGINCA CFO | PersonNm |
| Phone | 0312251223 | PhoneNum |
Foreign Address ForeignAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 6 GINA PATRICHI STREET SECTOR 1 | AddressLine1Txt |
| City | BUCHAREST | CityNm |
| Country | RO | CountryCd |
| Foreign Postal | 010449 | ForeignPostalCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt |
|---|---|---|---|---|---|---|
| BOGDAN VERNESCU | ||||||
| CHAIRMAN | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| MAGDALENA MANEA | ||||||
| VICE CHAIRMAN | 1.00 | Yes (X) | Yes (X) | $0 | $0 | $0 |
| PAIGE ALEXANDER | ||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |
| DINU-MIHAIL BUMBACEA | ||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |
| KRISTINA PERKIN DAVISON | ||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |
| GARY HATTEM | ||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JAMES J JACKSON | ||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |
| JOYCE S KLINE | ||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |
| CRISTIAN NACU | ||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ANDREEA ROSCA | ||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |
| WALTER VEIRS | ||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |
| KRYSTYNA WOLNIAKOWSKI | ||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |
| CHRISTOPHER WORMAN | ||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ADRIAN IONESCU | ||||||
| TRUSTEE | 1.00 | Yes (X) | $0 | $0 | $0 | |
| ROXANA VITAN | ||||||
| PRESIDENT | 40.00 | Yes (X) | $0 | $0 | $104,756 | |
| SUZANA DOBRE | ||||||
| VP, STRATEGY & PROGRAMS | 40.00 | Yes (X) | $0 | $0 | $13,968 | |
| BOGDAN GIURGINCA | ||||||
| TREASURER & CFO | 40.00 | Yes (X) | $0 | $0 | $71,457 | |
| EMILY GRAND | ||||||
| ASSISTANT CORPORATE SECRETARY | 5.00 | Yes (X) | $0 | $0 | $0 | |
| ARTHUR HICKOK | ||||||
| CORPORATE SECRETARY | 2.00 | Yes (X) | $0 | $0 | $0 | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $0 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $190,181 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 1 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | 0 | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (4 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| SEI | |||||
| 1 FREEDOM VALLEY DRIVE | OAKS | PA | 19456 | INVESTMENT ADVISORY IN US | $595,896 |
| BABSON COLLEGE | |||||
| 231 FOREST STREET | WELLESLEY | MA | 02457 | PROGRAMMATIC SERVICES IN U.S. | $179,759 |
| BAKER HOSTETLER | |||||
| 1050 CONNECTICUT AVENUE NW SUITE 1 | WASHINGTON | DC | 20036 | LEGAL SERVICES IN US | $172,166 |
| HARVARD GRADUATE SCHOOL OF EDUCATION | |||||
| 13 APPIAN WAY | CAMBRIDGE | MA | 02138 | PROGRAMMATIC SERVICES IN U.S. | $160,000 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 4 | CntrctRcvdGreaterThan100KCnt |
| Related Organizations | $159,016,692 | RelatedOrganizationsAmt |
| Noncash Contributions | $158,003,733 | NoncashContributionsAmt |
| Total Contributions | $159,016,692 | TotalContributionsAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $15,261,176 | TotalRevenueColumnAmt |
| Unrelated Business Revenue | -$144,800 | UnrelatedBusinessRevenueAmt |
| Exclusion | $15,405,976 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $34,717,966 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $38,199,315 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | -$3,481,349 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | -$3,481,349 | TotalRevenueColumnAmt |
| Exclusion | -$3,481,349 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $170,796,519 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | -$144,800 | UnrelatedBusinessRevenueAmt |
| Exclusion | $11,924,627 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $380,300 | TotalAmt |
| Program Services | $380,300 | ProgramServicesAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,140,885 | TotalAmt |
| Program Services | $5,140,885 | ProgramServicesAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $80,000 | TotalAmt |
| Management And General | $80,000 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $172,504 | TotalAmt |
| Program Services | $15,749 | ProgramServicesAmt |
| Management And General | $156,755 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $34,824 | TotalAmt |
| Management And General | $34,824 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $784,917 | TotalAmt |
| Management And General | $784,917 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $479,437 | TotalAmt |
| Program Services | $459,709 | ProgramServicesAmt |
| Management And General | $19,728 | ManagementAndGeneralAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $72,670 | TotalAmt |
| Program Services | $65,577 | ProgramServicesAmt |
| Management And General | $7,093 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $56,930 | TotalAmt |
| Program Services | $38,176 | ProgramServicesAmt |
| Management And General | $18,754 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $100,470 | TotalAmt |
| Program Services | $90,423 | ProgramServicesAmt |
| Management And General | $10,047 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,880 | TotalAmt |
| Program Services | $24,765 | ProgramServicesAmt |
| Management And General | $6,115 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $203,096 | TotalAmt |
| Program Services | $32,382 | ProgramServicesAmt |
| Management And General | $170,714 | ManagementAndGeneralAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $102,792 | TotalAmt |
| Program Services | $92,513 | ProgramServicesAmt |
| Management And General | $10,279 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,125 | TotalAmt |
| Management And General | $19,125 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (3 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| EQUIPMENT RENT/MAINT. | $43,573 | $38,226 | $5,347 |
| PROGRAM DEVELOPMENT EXP | $36,409 | $33,015 | $3,394 |
| DUES & MEMBERSHIPS | $7,877 | $7,089 | $788 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $32,752 | TotalAmt |
| Program Services | $29,486 | ProgramServicesAmt |
| Management And General | $3,266 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,779,441 | TotalAmt |
| Program Services | $6,448,295 | ProgramServicesAmt |
| Management And General | $1,331,146 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part X | Yes (X) | InfoInScheduleOPartXInd |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $952,782 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $14,661 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $3,061,324 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $622,794 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,308,458 | BOYAmt |
| EOY | $2,438,530 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $135,546,730 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $34,943,357 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $1,227,468 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,308,458 | BOYAmt |
| EOY | $175,123,528 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $469,880 | EOYAmt |
Grants Payable GrantsPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $1,537,880 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $2,007,760 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,308,458 | BOYAmt |
| EOY | $173,115,768 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,308,458 | BOYAmt |
| EOY | $173,115,768 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,308,458 | BOYAmt |
| EOY | $175,123,528 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $163,017,078 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $8,308,106 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$517,874 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule B IRS990ScheduleB
Contributor Information ContributorInformationGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributor | RESTRICTED | ContributorNum |
Contributor Business Name ContributorBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RESTRICTED | BusinessNameLine1 |
Contributor US Address ContributorUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | RESTRICTED | AddressLine1 |
| Address Line2 | RESTRICTED | AddressLine2 |
| City | RESTRICTED | City |
| State | RESTRICTED | State |
| ZIP Code | RESTRICTED | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Contributions | RESTRICTED | TotalContributionsAmt |
Schedule D IRS990ScheduleD
CY Endwmt Fund CYEndwmtFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Contributions | $165,834,300 | ContributionsAmt |
| Investment Earnings Or Losses | $12,480,705 | InvestmentEarningsOrLossesAmt |
| Other Expenditures | $7,040,000 | OtherExpendituresAmt |
| Administrative Expenses | $784,917 | AdministrativeExpensesAmt |
| End Year Balance | $170,490,088 | EndYearBalanceAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Board Designated Balance EOY | 1.00000 | BoardDesignatedBalanceEOYPct |
| Endowments Held Unrelated Org | 0 | EndowmentsHeldUnrelatedOrgInd |
| Endowments Held Related Org | 0 | EndowmentsHeldRelatedOrgInd |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $2,886,753 | OtherCostOrOtherBasisAmt |
| Depreciation | $450,558 | DepreciationAmt |
| Book Value | $2,436,195 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $174,571 | OtherCostOrOtherBasisAmt |
| Depreciation | $172,236 | DepreciationAmt |
| Book Value | $2,335 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $2,438,530 | TotalBookValueLandBuildingsAmt |
Other Securities OtherSecuritiesGrp (3 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| DIVERSIFIED STRATEGY OF PROPERTY FUNDS | $8,152,874 | F |
| MULTI-STRATEGY, HEDGE FUNDS OF FUNDS | $11,239,400 | F |
| DIVERSIFIED STRATEGY OF PRIVATE EQUITY FUNDS | $15,551,083 | F |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Securities | $34,943,357 | TotalBookValueSecuritiesAmt |
| Total Rev Etc Audited Fincl Stmt | $19,302,309 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $8,308,106 | NetUnrealizedGainsInvstAmt |
| Other Revenue | -$707 | OtherRevenueAmt |
| Revenue Not Reported | $8,307,399 | RevenueNotReportedAmt |
| Revenue Subtotal | $10,994,910 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $784,917 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $159,016,692 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $159,801,609 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $170,796,519 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $6,971,600 | TotExpnsEtcAuditedFinclStmtAmt |
| Other Expenses Included | $977,076 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $977,076 | ExpensesNotReportedAmt |
| Expenses Subtotal | $5,994,524 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $784,917 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $1,000,000 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $1,784,917 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $7,779,441 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (5 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART V, LINE 4: | THE ORGANIZATION'S ENDOWMENT FUND IS A QUASI-ENDOWMENT FUND ESTABLISHED BY THE ORGANIZATION'S BOARD OF TRUSTEES. THE QUASI-ENDOWMENT FUND WILL BE USED TO SUPPORT THE ORGANIZATION'S MISSION TO STRENGTHEN AND PROMOTE CONDITIONS FOR A SUSTAINABLE MARKET ECONOMY AND A DEMOCRATIC SOCIETY THAT PROVIDES ACCESS TO OPPORTUNITY FOR ALL SEGMENTS OF THE ROMANIAN SOCIETY. THE ORGANIZATION HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ITS QUASI-ENDOWMENT FUND THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | REVENUE OF FUNDATIA ROMANO-AMERICANA -707. |
| PART XI, LINE 4B - OTHER ADJUSTMENTS: | CONTRIBUTION FROM RAF OLD DUE TO MERGER 159,016,692. |
| PART XII, LINE 2D - OTHER ADJUSTMENTS: | EXPENSES OF FUNDATIA ROMANO-AMERICANA 977,076. |
| PART XII, LINE 4B - OTHER ADJUSTMENTS: | CONTRIBUTION TO FUNDATIA ROMANO-AMERICANA 1,000,000. |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | 0 | GrantRecordsMaintainedInd |
Account Activities Outside US AccountActivitiesOutsideUSGrp (4 entries)
| RegionRegionTxt | OfficesOfficesCnt | EmployeeEmployeeCnt | Type Of Activities ConductedTypeOfActivitiesConductedTxt | Region Total ExpendituresRegionTotalExpendituresAmt | Specific Services ProvidedSpecificServicesProvidedTxt |
|---|---|---|---|---|---|
| EUROPE (INCLUDING ICELAND & GREENLAND) | 0 | 0 | GRANTS TO RECIPIENTS LOCATED IN REGION | $5,140,885 | |
| EUROPE (INCLUDING ICELAND & GREENLAND) | 0 | 0 | PROGRAM RELATED INVESTMENTS | $1,262,140 | |
| CENTRAL AMERICA AND THE CARIBBEAN | 0 | 0 | INVESTMENTS | $11,239,400 | |
| EUROPE (INCLUDING ICELAND & GREENLAND) | 0 | 0 | PROGRAM | $372,798 | DEVELOPING ENTREPRENEURSHIP, IMPROVING EDUCATION, PROMOTING THE SPIRIT OF PHILANTHROPY IN ROMANIA AND FOSTERING INNOVATION. |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 0 | SubtotalOfficesCnt |
| Subtotal Employees | 0 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 0 | TotalOfficeCnt |
| Total Employee | 0 | TotalEmployeeCnt |
| Subtotal Spent | $18,015,223 | SubtotalSpentAmt |
| Continuation Spent | $0 | ContinuationSpentAmt |
| Total Spent | $18,015,223 | TotalSpentAmt |
Grants To Org Outside US GrantsToOrgOutsideUSGrp (40 entries)
| RegionRegionTxt | Purpose Of GrantPurposeOfGrantTxt | Cash GrantCashGrantAmt | Manner Of Cash DisbursementMannerOfCashDisbursementTxt | Non Cash AssistanceNonCashAssistanceAmt |
|---|---|---|---|---|
| EUROPE | COMMUNITY DEVELOPMENT | $40,000 | WIRE TRANSFER | $0 |
| EUROPE | TECHNOLOGICAL INNOVATION | $16,000 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $80,000 | WIRE TRANSFER | $0 |
| EUROPE | EDUCATION | $55,000 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $85,000 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $67,000 | WIRE TRANSFER | $0 |
| EUROPE | EDUCATION | $79,800 | WIRE TRANSFER | $0 |
| EUROPE | ENTREPRENEURSHIP | $90,000 | WIRE TRANSFER | $0 |
| EUROPE | TECHNOLOGICAL INNOVATION | $10,000 | WIRE TRANSFER | $0 |
| EUROPE | ENTREPRENEURSHIP | $93,700 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $67,500 | WIRE TRANSFER | $0 |
| EUROPE | ENTREPRENEURSHIP | $50,506 | WIRE TRANSFER | $0 |
| EUROPE | EDUCATION | $59,000 | WIRE TRANSFER | $0 |
| EUROPE | EDUCATION | $82,580 | WIRE TRANSFER | $0 |
| EUROPE | EDUCATION | $80,000 | WIRE TRANSFER | $0 |
| EUROPE | EDUCATION | $70,200 | WIRE TRANSFER | $0 |
| EUROPE | EDUCATION | $60,000 | WIRE TRANSFER | $0 |
| EUROPE | EDUCATION | $100,000 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $120,000 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $40,000 | WIRE TRANSFER | $0 |
| EUROPE | EDUCATION | $68,767 | WIRE TRANSFER | $0 |
| EUROPE | ENTREPRENEURSHIP | $572,000 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $118,000 | WIRE TRANSFER | $0 |
| EUROPE | ENTREPRENEURSHIP | $80,000 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $13,000 | WIRE TRANSFER | $0 |
| EUROPE | ENTREPRENEURSHIP | $195,497 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $25,000 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $20,000 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $25,000 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $20,000 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $81,258 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $94,000 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $105,000 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $78,000 | WIRE TRANSFER | $0 |
| EUROPE | ENTREPRENEURSHIP | $634,002 | WIRE TRANSFER | $0 |
| EUROPE | EDUCATION | $305,000 | WIRE TRANSFER | $0 |
| EUROPE | EDUCATION | $115,000 | WIRE TRANSFER | $0 |
| EUROPE | EDUCATION | $190,075 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $50,000 | WIRE TRANSFER | $0 |
| EUROPE | COMMUNITY DEVELOPMENT | $1,000,000 | WIRE TRANSFER | $0 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 0 | Total501c3OrgCnt |
| Total Other Org | 39 | TotalOtherOrgCnt |
| Transfer To Foreign Corp | Yes (1) | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | Yes (1) | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | 0 | PassiveForeignInvestmestCoInd |
| Foreign Partnership | 0 | ForeignPartnershipInd |
| Boycott Countries | 0 | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 2: | DURING THE GRANT TERM, GRANT RECIPIENTS ARE REQUIRED TO SUBMIT PROGRESS REPORTS (NARRATIVE AND DETAILED FINANCIAL REPORTS) ONCE OR TWICE PER YEAR. THESE ARE REVIEWED BY STAFF OF FUNDATIA ROMANO-AMERICANA FOR COMPLIANCE WITH THE TERMS OF THE GRANT AGREEMENT. AS A GENERAL RULE, THE FIRST INSTALLMENT IS AN ADVANCE PAYMENT BUT THE FOLLOWING INSTALLMENTS ARE TRANSFERRED TO THE GRANTEE ONLY AFTER APPROVAL OF THE INTERMEDIATE/PROGRESS REPORTS. PROGRAM STAFF OF FUNDATIA ROMANO-AMERICANA VISIT THE GRANTEES DURING THE TERM OF THE GRANT (ONE OR MORE SITE VISITS PER YEAR), WRITE VISIT REPORTS AND KEEP A JOURNAL WITH NOTES FOLLOWING RELEVANT COMMUNICATION WITH THE GRANTEES. PROGRAM STAFF OF FUNDATIA ROMANO-AMERICANA PREPARE PERIODIC EVALUATION REPORTS BASED ON GRANTEES' CONTRACTUAL REPORTS, DISCUSSIONS, SITE VISITS, AND RELEVANT SECTOR DEVELOPMENTS. ALL DOCUMENTS ARE RETAINED IN THE ORGANIZATION'S RECORDS SYSTEM. AS PER THE GRANT AGREEMENT, EACH GRANTEE IS REQUIRED TO RETAIN ORIGINAL SUBSTANTIATION DOCUMENTS, INCLUDING ACCOUNTING RECORDS, RELATED TO THE ACTIVITIES AND ELIGIBLE EXPENDITURE TO ENSURE AN ADEQUATE AUDIT TRAIL. DEPENDING ON EACH PROJECT'S DURATION, THERE MAY BE ONE OR TWO AUDIT TRAILS (INTERMEDIATE OR FINAL). THE AUDIT TRAIL IS PERFORMED BY AN INDEPENDENT AUDITOR, SELECTED AND CONTRACTED BY THE ORGANIZATION. THE EXAMINATION INCLUDES VERIFICATION OF FINANCIAL RECORDS, PERFORMANCE RECORDS, COMPLIANCE INFORMATION, ETC. THE AUDITOR PRESENTS A REPORT WITH THE FINDINGS DIRECTLY TO THE STAFF OF THE ORGANIZATION. FUNDATIA ROMANO-AMERICANA ("FRA") IS A SUBSIDIARY OF THE ROMANIAN-AMERICAN FOUNDATION ("RAF"). RAF FUNDS FRA THROUGH A GRANT THAT IS APPROVED BY THE BOARD OF TRUSTEES OF RAF. RAF MONITORS THE GRANT ON A CONTINUOUS BASIS THROUGH ITS CONTROL OF FRA. EVERY YEAR FRA DEVELOPS A BUDGET FOR ITS OPERATIONS AND PRESENTS IT TO RAF. RAF CONSOLIDATES THIS IN ITS OWN BUDGET THAT IS EVENTUALLY APPROVED BY THE RAF BOARD. FRA THEN ISSUES MONTHLY FINANCIAL STATEMENTS THAT ARE CONSOLIDATED UNDER US GAAP TOGETHER WITH THE FINANCIAL STATEMENTS OF RAF. RAF'S CONSOLIDATED FINANCIAL STATEMENTS ARE REPORTED QUARTERLY TO THE FINANCE AND INVESTMENT COMMITTEE OF RAF AND TO THE BOARD OF TRUSTEES OF RAF. SUCH REPORTING INCLUDES A CONSOLIDATED BUDGETARY EXECUTION OF ACTUAL VERSUS BUDGET FIGURES; DETAILED EXPLANATIONS ARE PROVIDED FOR THE VARIANCES. EVERY YEAR RAF ISSUES USGAAP AUDITED CONSOLIDATED FINANCIAL STATEMENTS AND THE AUDITORS REPORT THEIR FINDINGS TO THE BOARD OF TRUSTEES OF RAF. |
| PART I, LINE 3: | THE AMOUNTS REPORTED FOR EXPENDITURES IN PART I WERE DETERMINED USING THE ACCRUAL METHOD OF ACCOUNTING. THE AMOUNTS REPORTED FOR INVESTMENTS REPRESENT THE FAIR MARKET VALUE OF SUCH INVESTMENTS AT THE END OF THE TAX YEAR. |
| PART II, LINE 1 ACCOUNTING METHOD: | THE AMOUNTS REPORTED IN PART II WERE DETERMINED BASED ON THE ACCRUAL METHOD OF ACCOUNTING. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable
Recipient Business Name RecipientBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | COUNCIL ON INTERNATIONAL EDUCATIONAL EXCHANGE | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 300 FORE STREET | AddressLine1Txt |
| City | PORTLAND | CityNm |
| State Abbreviation | ME | StateAbbreviationCd |
| ZIP | 04101 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Recipient EIN | 135619649 | RecipientEIN |
| IRC Section | 501(C)(3) | IRCSectionDesc |
| Cash Grant | $380,300 | CashGrantAmt |
| Non Cash Assistance | $0 | NonCashAssistanceAmt |
| Purpose Of Grant | EDUCATION | PurposeOfGrantTxt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 1 | Total501c3OrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, LINE 2: | FormAndLineReferenceDesc |
| Explanation | MONITORING OF GRANTS MADE TO U.S. ORGANIZATIONS RETAIN ALL THE RIGORS OF GRANTS PROVIDED TO FOREIGN ORGANIZATIONS. THE GRANTEE ORGANIZATION PROVIDES A PROPOSAL AND COINCIDING BUDGET FOR PROGRAM EXPENSES. THE GRANT REQUEST AND BUDGET IS APPROVED BY THE RAF BOARD OF DIRECTORS. AFTER APPROVAL, WE SIGN A GRANT AGREEMENT THAT INCLUDES THE BUDGET. DURING IMPLEMENTATION OF THE GRANT, THERE ARE TYPICALLY THREE CATEGORIES OF EXPENDITURES: 1. ORGANIZATION MANAGEMENT FEE, PRE-NEGOTIATED AND PAID FOR ON AN ANNUAL BASIS. 2. SUB-GRANTING OR CONTRACTING TO A US UNIVERSITY THAT HOSTS THE PROGRAM AND PROVIDES CAPACITY DELIVERY. AGAIN, THIS IS PRE-NEGOTIATED AND PAID OUT ON AN ANNUAL BASIS. 3. LOGISTICS EXPENSES (DIRECT COSTS) USUALLY THESE EXPENSES INCLUDE TRAVEL, HOTEL, AND MEALS. THESE EXPENSES ARE MONITORED THROUGH INVOICES PAID. GRANT RECIPIENTS PROVIDE PROGRESS REPORTS THAT DESCRIBE PROGRESSES MADE IN THE GRANT IMPLEMENTATION AND A FINANCIAL REPORT AS TO WHERE THE FUNDS WERE SPENT. | ExplanationTxt |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | GHS PHILANTHROPY MANAGEMENT | PersonNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | OWNED >35% BY OFFICERS | RelationshipDescriptionTxt |
| Transaction | $80,000 | TransactionAmt |
| Transaction | ARTHUR HICKOK AND EMILY GRAND OWNED GHS PHILANTHROPY MANAGEMENT ("GHS") DURING THE REPORTING PERIOD OF THIS FORM 990. GHS RECEIVED COMPENSATION FOR PROFESSIONAL SERVICES IN THE ABOVE AMOUNT FOR THE REPORTING PERIOD. MR. HICKOK AND MS. GRAND RECUSED THEMSELVES FROM MATTERS CONCERNING THE SELECTION AND COMPENSATION OF THE MANAGEMENT SERVICES FIRM RETAINED BY RAF. | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Schedule M IRS990ScheduleM
Securities Publicly Traded SecuritiesPubliclyTradedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $130,884,974 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
Secur Prtnrshp Trust Intrsts SecurPrtnrshpTrustIntrstsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Non Cash Checkbox | Yes (X) | NonCashCheckboxInd |
| Contribution | 1 | ContributionCnt |
| Noncash Contributions Rpt F990 | $25,522,294 | NoncashContributionsRptF990Amt |
| Method Of Determining Revenues | FMV | MethodOfDeterminingRevenuesTxt |
Other Non Cash Contri Table OtherNonCashContriTableGrp (4 entries)
| Non Cash CheckboxNonCashCheckboxInd | DescDesc | ContributionContributionCnt | Noncash Contributions Rpt F990NoncashContributionsRptF990Amt | Method Of Determining RevenuesMethodOfDeterminingRevenuesTxt |
|---|---|---|---|---|
| Yes (X) | PROGRAM RELATED INVESTMENTS | 1 | $841,688 | FMV |
| Yes (X) | RECEIVABLES | 1 | $517,874 | FMV |
| Yes (X) | FIXED ASSETS | 1 | $232,864 | BOOK |
| Yes (X) | DEPOSITS | 1 | $4,039 | BOOK |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form8283 Received | 0 | Form8283ReceivedCnt |
| Any Property That Must Be Held | 0 | AnyPropertyThatMustBeHeldInd |
| Review Process Unusual NC Gifts | 0 | ReviewProcessUnusualNCGiftsInd |
| Third Parties Used | 0 | ThirdPartiesUsedInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, COLUMN (B): | FormAndLineReferenceDesc |
| Explanation | ALL OF THE ABOVE NONCASH CONTRIBUTIONS WERE AS A RESULT OF THE MERGER OF ROMANIAN-AMERICAN FOUNDATION INTO RAF NEW (NOW NAMED ROMANIAN-AMERICAN FOUNDATION). THE NUMBER REPORTED IS THE NUMBER OF DONORS OF SUCH ITEMS. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 2 | OFFICERS ARTHUR HICKOK AND EMILY GRAND HAVE A FAMILY RELATIONSHIP AND A BUSINESS RELATIONSHIP. |
| FORM 990, PART VI, SECTION A, LINE 4 | THE FOUNDATION AMENDED AND RESTATED ITS CERTIFICATE OF INCORPORATION TO CHANGE ITS NAME. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS PREPARED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM USING THE ORGANIZATION'S CERTIFIED FINANCIAL-RECORDS AND THROUGH DISCUSSIONS WITH THE ORGANIZATION'S PRESIDENT AND CHIEF FINANCIAL OFFICER. THE PRESIDENT THEN REVIEWS THE FORM 990 WITH THE MEMBERS OF THE ORGANIZATION'S BOARD OF TRUSTEES. EACH MEMBER IS PROVIDED WITH ACCESS TO THE FORM 990 PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. |
| FORM 990, PART VI, SECTION B, LINE 12C | THE ORGANIZATION'S INDEPENDENT AUDITORS CONFIRM WITH EACH TRUSTEE AND KEY EMPLOYEE THAT THEY HAVE COMPLIED WITH THE POLICY'S REQUIREMENTS DURING THE ORGANIZATION'S ANNUAL AUDIT. |
| FORM 990, PART VI, SECTION B, LINE 15 | OFFICERS ONLY RECEIVE COMPENSATION FROM A RELATED ORGANIZATION, NOT THE FOUNDATION. THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE COMPENSATION OF THE CEO AND OTHER OFFICERS, INCLUDING COMPARABILITY DATA, ON AN ANNUAL BASIS IN CONNECTION WITH OF ITS APPROVAL OF THE ORGANIZATION'S BUDGET. |
| FORM 990, PART VI, SECTION C, LINE 19 | THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC. |
| FORM 990, PART X: | THE FOUNDATION'S AUDITED FINANCIAL STATEMENTS ARE CONSOLIDATED AND INCLUDE THE ACTIVITY OF THE FOUNDATION'S RELATED ORGANIZATION, FUNDATIA ROMANO-AMERICANA. THEREFORE, THE AMOUNTS PRESENTED IN PART X DIFFER FROM THE AMOUNTS IN THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION BECAUSE THEY INCLUDE THE INTERCOMPANY BALANCES ON THE FOUNDATION'S BOOKS THAT ARE ELIMINATED IN CONSOLIDATION FOR FINANCIAL STATEMENT PURPOSES. |
| FORM 990, PART XI, LINE 9: | ADJUSTMENT TO REMOVE FUNDATIA ROMANO-AMERICANA NET ASSETS -517,874. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp (2 entries)
| Address Line1ForeignAddress/AddressLine1Txt | CityForeignAddress/CityNm | CountryForeignAddress/CountryCd | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile Foreign CountryLegalDomicileForeignCountryCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Controlled OrganizationControlledOrganizationInd | Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Legal Domicile StateLegalDomicileStateCd | Exempt Code SectionExemptCodeSectionTxt | Direct Controlling NADirectControllingNACd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| FUNDATIA ROMANO-AMERICANA | ||||||||||||||
| 6 GINA PATRICHI ST | BUCHAREST | RO | DEVELOPING ENTREPRENEURSHIP, EDUCATION, PHILANTHROPY, INNOVATION | RO | ROMANIAN-AMERICAN FOUNDATION | Yes (1) | ||||||||
| ROMANIAN-AMERICAN FOUNDATION | ||||||||||||||
| DEVELOPING ENTREPRENEURSHIP, EDUCATION, PHILANTHROPY, INNOVATION | 0 | 31 WEST 34TH ST STE 7010 | NEW YORK | NY | 10001 | 271095214 | DE | 501(C)(4) | N/A | |||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | Yes (1) | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (2 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| FUNDATIA ROMANO-AMERICANA | ||
| B | $1,000,000 | CASH |
| ROMANIAN-AMERICAN FOUNDATION | ||
| C | $159,016,692 | FMV |