2014-01-08T13:11:34-06:00 2013-05-31 042442519 EDELSTEIN AND COMPANY LLP 160 FEDERAL STREET 9TH FLOOR BOSTON MA 021101772 990 2012-06-01 222789574 FRIENDS OF THE AMERICAN BOARD SCHOOLS IN TURKEY INC FRIE 6175233433 14 BEACON STREET NO 708 BOSTON MA 02108 ISMAIL EKMEKCI 6175233433 2014-01-06 1 ALFONSO PERILLO P00950491 6172276161 2014-01-06 2012 2015-11-30 17:44:51Z ISMAIL EKMEKCI 14 BEACON STREET NO 708 BOSTON MA 02108 1065731 0 X WWW.FABSIT.ORG X 1986 DE FINANCIAL AND EDUCATIONAL ASSISTANCE TO SCHOOLS AND HOSPITALS IN TURKEY 13 13 1 0 0 0 126826 842112 20960 30000 14253 43264 0 0 162039 915376 9115 766082 0 0 90570 80118 0 0 25661 28457 41926 128142 888126 33897 27250 705826 812662 9625 17016 696201 795646 X TO FOSTER EXCELLENCE IN SECONDARY EDUCATION AND HEALTH CARE IN TURKEY THROUGH SUPPORT OF THE AMERICAN BOARD SCHOOLS AND HOSPITAL, AND THROUGH THEM, TO INSTILL VALUES AND PROVIDE KNOWLEDGE TO HELP YOUNG MEN AND WOMEN IN TURKEY BECOME CONTEMPORARY LEADERS CONTRIBUTING TO THE DEVELOPMENT OF TURKEY AND THE WORLD COMMUNITY. 0 0 817641 766082 30000 ESTABLISHED TO PROVIDE FINANCIAL AND EDUCATIONAL ASSITANCE TO SCHOOLS AND HOSPITALS IN TURKEY. THE EXPENDITURES ALLOCATED TO PROGRAM SERVICES WERE ACTUAL GRANTS AND AN ALLOCATION OF ALL OTHER EXPENSES BASED ON ESTIMATED TIME. 817641 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 X 13 13 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 0 0 MA X KADRIYE EKMEKCI 6175233433 14 BEACON STREET STE 708 BOSTON MA 02108 ISMAIL EKMEKCI 5.00 X X 0 0 0 KEREM TURUNC 3.00 X X 0 0 0 ROXANNE BARRY 3.00 X X 0 0 0 MEHMET BAYSAN 3.00 X X 0 0 0 ZAFER ECEVIT 3.00 X 0 0 0 DILHAN KALYON 3.00 X 0 0 0 DOROTHY KELLER 3.00 X 0 0 0 ROBERT KELLER 3.00 X 0 0 0 BALCA KORKUT 3.00 X 0 0 0 HAKAN OZAKBAS 3.00 X 0 0 0 BARCLAY SHEPARD 3.00 X 0 0 0 SELIM SULOS 3.00 X 0 0 0 YASAR YASER 3.00 X 0 0 0 PAULA DINCER RESIGNED 22813 40.00 X 65000 0 18904 65000 0 18904 0 0 0 0 0 676626 165486 842112 PROGRAM SERVICE REVENU 900099 30000 30000 30000 29532 29532 164087 150355 13732 13732 13732 915376 30000 0 43264 766082 766082 72101 36051 18025 18025 3000 1500 750 750 264 130 67 67 4753 2377 1188 1188 19163 19163 9184 4712 2236 2236 732 366 183 183 9912 4956 2478 2478 347 173 87 87 2588 1294 647 647 888126 817641 44824 25661 89200 115629 22511 3387 3716 6141 455 4556 4556 1 0 362624 670351 244473 705826 812662 17016 9625 9625 17016 X 621633 676832 44198 83444 30370 35370 696201 795646 705826 812662 27250 72195 0 X X 0 1 X 0 1 1 X 84794 279064 246555 126826 842112 1579351 84794 279064 246555 126826 842112 1579351 1579351 25237 23644 22619 22806 29532 123838 1703189 114425 0.92730 0.94620 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 685803 795803 115235 766082 41742 789017 711392 44315 -60789 9115 685803 837749 201211 74397 401965 711392 579797 226069 45704 13821 837749 0.84940 0.04480 0.10580 0 0 4556 4556 0 0 X 987571 72195 72195 915376 0 915376 888126 0 888126 0 888126 DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: BOARD DESIGNATED ENDOWMENT IS TO SUPPORT THE ORGANIZATION IN PROVIDING FINANCIAL AND EDUCATIONAL ASSISTANCE TO SCHOOLS AND HOSPITALS IN TURKEY. THE PERMANENT ENDOWMENT IS HELD IN PERPETUITY. EARNINGS RESULTING FROM THE INVESTMENT OF PRINCIPAL ARE AVAILABLE TO MAKE SCHOLARSHIP AWARDS. THE TEMPORARILY RESTRICTED ENDOWMENT CONSISTS OF THE FOLLOWING: RESTRICTED FOR GRANTS TO SCHOOLS AND HOSPITALS IN TURKEY $62,227 RESTRICTED FOR SCHOLARSHIPS $18,198 OTHER RESTRICTED PURPOSES $ 3,019 TOTAL TEMPORARILY RESTRICTED FUNDS AT 5/31/13 $83,444 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE ORGANIZATION HAS EVALUATED THE TAX POSITIONS TAKEN ON RETURNS FOR OPEN YEARS AND THOSE EXPECTED TO BE TAKEN ON RETURNS FOR THE YEAR ENDED MAY 31, 2013. IT IS MANAGEMENT'S BELIEF THAT SUCH TAX POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION BY TAX AUTHORITIES. ACCORDINGLY, NO LIABILITY FOR UNCERTAIN TAX POSITIONS HAS BEEN REFLECTED IN THESE FINANCIAL STATEMENTS. RETURNS FOR TAX YEARS BEGINNING WITH THOSE FILED FOR THE YEAR ENDED MAY 31, 2010 ARE OPEN TO EXAMINATION. 1 EUROPE 0 0 GRANTMAKING N/A 766082 0 0 0 0 0 0 766082 0 766082 EUROPE CAMPUS UPGRADES AT THE AMERICAN COLLEGIATE INSTITUTE 300000 WIRE TRANSFER N/A N/A EUROPE UPGRADE THE INFRASTRUCTURE OF THE USKUDAR AMERICAN ACADEMY 376626 WIRE TRANSFER N/A N/A EUROPE FINANCIAL AND EDUCATIONAL ASSISTANCE TO SCHOOLS AND HOSPITALS IN TURKEY 30000 CHECK N/A N/A EUROPE SCHOLARSHIPS FOR STUDENTS 14000 CHECK N/A N/A EUROPE SCHOLARSHIPS FOR STUDENTS 40000 WIRE TRANSFER N/A N/A 3 0 0 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: STRATEGIC PLANS AND BUDGETS ARE SUBMITTED BY GRANT RECIPIENTS OUTSIDE OF THE UNITED STATES FOR REVIEW BY FRIENDS OF THE AMERICAN BOARD SCHOOLS IN TURKEY'S (FABSIT) BOARD OF DIRECTORS. FABSIT REQUIRES WRITTEN ANNUAL REPORTS FROM GRANT RECIPIENTS UPON THE USE OF THE FUNDS. METHOD USED TO ACCCOUNT FOR EXPENDITURES: SCHEDULE F, PART I, LINE 3: ACCRUAL METHOD OF ACCOUNTING FORM 990, PART VI, SECTION A, LINE 2 DOROTHY KELLER AND ROBERT KELLER: FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 8B NO COMMITTEE HAS THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 THE OFFICERS AND THE BOARD OF DIRECTORS REVIEW THE FORM 990 BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION REQUIRES EACH NEW KEY EMPLOYEE, OFFICER OR DIRECTOR TO REVIEW A COPY OF THE "POLICY ON CONFLICTS OF INTEREST AND DISCLOSURE OF CERTAIN INTERESTS" AND TO ACKNOWLEDGE IN WRITING THAT HE OR SHE HAS DONE SO. ADDITIONALLY, EACH KEY EMPLOYEE, OFFICER OR DIRECTOR, ANNUALLY COMPLETES A DISCLOSURE FORM IDENTIFYING ANY RELATIONSHIPS, POSITIONS, OR CIRCUMSTANCES IN WHICH THE EMPLOYEE IS INVOLVED THAT HE OR SHE BELIEVES COULD CONTRIBUTE TO A CONFLICT OF INTEREST ARISING. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS ESTABLISHES THE COMPENSATION FOR THE EXECUTIVE DIRECTOR. THE BOARD OF DIRECTORS REVIEWS SALARY INFORMATION FROM COMPARABLE ORGANIZATIONS CONTAINED IN GUIDESTAR'S MOST RECENTLY PUBLISHED SALARY SURVEY. THEY HAVE ESTABLISHED A COMPENSATION PACKAGE FOR THE EXECUTIVE DIRECTOR THAT WAS WITHIN THE RANGE OF ORGANIZATIONS SIMILAR IN SIZE AND SCOPE TO FABSIT. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC INSPECTION, UPON REQUEST, AT 14 BEACON STREET, BOSTON, MA 02108. RESPONSIBILITY FOR OVERSIGHT OF THE AUDITED FINANCIAL STATEMENTS FORM 990, PART XII, LINE 2C THE BOARD OF DIRECTORS HAS THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND THE SELECTION OF THE INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.