Romanian-american Investment Foundation

Nonprofit profile at a glance

EIN
521889172
IRS 990 coverage
2014–2017
Forms available
Form 990 2017
Location
New York, NY, USA
Phone
2128124362
Rating
63
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
International Economic Development

Reported finances

Revenue
$67,911
Expenses
$1,297,293
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • PHILIP HENDERSON (CHAIRMAN - PRESIDENT)

Highest reported compensation

  • BOGDAN GIURGINCA (TREASURER): $60,206 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The organization's purpose was to encourage the creation and expansion of small and medium sized enterprises in romania through loans and investments. The organization had an office in bucharest and had negotiated loans and investments in excess of $350 million since inception.

What it reported doing in 2017

Before the organization filed its certificate of dissolution, the organization encouraged the creation and expansion of small and medium sized enterprises in romania through loans and investments.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Grant intermediary. The nonprofit sent 98% of its reported program spending out as grants.

The verdict

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 72
  • Accountability: 31
  • Sustainability: 2
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 94.6%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -1,810.3%; rating input score 3; 3rd percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 2; 2nd percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: Limited

Growth

  • Program expense growth: -88.2% per year; rating input score 0; 4th percentile among comparable filings
  • Revenue growth: Limited
  • Asset growth: -108.3% per year; rating input score 0; 1st percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 94.6% of spending went to programs
  • Governance: 6 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $1.2M in reported program spending
  • Leadership: top reported pay $60K · 12 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 7 filed schedules · includes foreign activity and grants
  • Filing history: 4 filing years from 2014 to 2017
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 2 filed related-organization links
  • 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.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Operating margin scored 3/100.
  • High — Sustainability: Total-asset coverage ratio scored 2/100.
  • High — Growth: Asset growth scored 0/100.