Bulgaria Innovation Hub Inc

Nonprofit profile at a glance

EIN
833952884
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-PF 2020
Location
Lafayette, CA, USA
Phone
6505763951
Rating
69
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Chambers of Commerce & Business Leagues

Official website

Reported finances

Revenue
$430,664
Expenses
$401,297
Assets
$53,667
Liabilities
$57,884

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

7 people listed

Executive titles in this filing

  • PAVLINA YANAKIEVA (EXECUTIVE DIRECTOR)
  • BOGOMIL BALKANSKY (PRESIDENT)

Highest reported compensation

  • PAVLINA YANAKIEVA (EXECUTIVE DIRECTOR): $207,335 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Driving innovation, growth, and human development through knowledge exchange and cross-cultural collaboration.

What it reported doing in 2024

General program - in 2024, bih conducted its annual accelerator program in a hybrid format, consisting of two weeks of virtual training and one week in person in silicon valley. The program provided entrepreneurial education and mentorship to 9 companies and more than 35 entrepreneurs from bulgaria and southeastern europe. Participants engaged in workshops, business training sessions, and feedback presentations with industry mentors, experts, and investors. The program concluded with a community event, hosted with partner organizations, to showcase participant progress and foster closer cross-cultural collaboration and knowledge exchange. This initiative advanced bih's charitable mission by building skills, expanding networks, and supporting entrepreneurs in accessing opportunities to grow their businesses and contribute meaningfully to their communities.

Operating model

Revenue model
Donor-supported. 90% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and most voting board members are independent. The filing reports few safeguards for money sent abroad and the filing does not identify recipients for some grant dollars.

Rating breakdown

  • Financial Efficiency: 82
  • Transparency & Controls: 51
  • Accountability: 71
  • Sustainability: 29
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.5%; rating input score 90
  • Program expense ratio: 96.1%; rating input score 96
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Missing
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 6.8%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 0.13; rating input score 8; 8th percentile among comparable filings
  • Liabilities to assets ratio: 1.08; rating input score 4; 4th percentile among comparable filings
  • Officer compensation ratio: 51.7%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: 52.1% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 49.5% per year; rating input score 100; 97th percentile among comparable filings
  • Asset growth: 11.3% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 89.5% of revenue deployed · 96.1% of spending went to programs
  • Governance: 6 of 7 board members independent · 4 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $386K in reported program spending
  • Leadership: top reported pay $207K · 7 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 6 filed schedules · includes major donors, foreign activity, and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 3 of 7 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 8/100.
  • Review — Sustainability: Operating margin scored 54/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • High — Sustainability: Liabilities to assets ratio scored 4/100.