The American-Scandinavian Foundation
Nonprofit profile at a glance
- EIN
- 131623897
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-T 2024
- Location
- New York, NY, USA
- Phone
- 2127793587
- Rating
- 91
- Verdict
- STRONG
- Rating confidence
- Standard
- Sector
- Promotion of International Understanding
Reported finances
- Revenue
- $6,039,745
- Expenses
- $6,941,422
- Assets
- $54,991,768
- Liabilities
- $1,931,259
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
65 people listed
Executive titles in this filing
- EDWARD P GALLAGHER (PRESIDENT)
Highest reported compensation
- EDWARD P GALLAGHER (PRESIDENT): $320,807 total reported compensation
- SALLY YERKOVICH (DIRECTOR OF EDUCATIONAL EXCHAN): $140,370 total reported compensation
- STEPHEN P MCGRATH (DIRECTOR OF FINANCE & ADMIN): $129,180 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The american-scandinavian foundation is a publicly-supported not-for-profit organization committed to promoting educational, cultural and professional exchange between the united states and the nordic countries (denmark, finland, iceland, norway and sweden). Asf offers fellowships, cultural grants, training/internships, publications, exhibitions and other public programs reinforcing the strong relationships between the two regions, and honoring their shared values as well as appreciating their differences.
What it reported doing in 2024
Training and fellowship - fellowships and grants from the american scandinavian foundation were awarded on a competitive basis to americans for study or research in denmark, finland, iceland, norway, and sweden and to scandinavians in the u.s. And recommended by asf's cooperating organizations in each of the nordic countries the recipients represented a very broad range of fields and universities and were at the graduate, post-graduate, or professional level. In addition, the asf made public project grant to educational and cultural institutions to bring scandinavian culture and ideas to venues throughout the u.s. Over the year, these grants supported nordic projects in various states. The training and internship program helps young scandinavians and americans receive practical work experience across the atlantic.
Operating model
- Revenue model
- Donor-supported. 69% of the money available for current operations came from contributions and gifts.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 71% for direct work, and 29% for grants.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 89
- Transparency & Controls: 96
- Accountability: 99
- Sustainability: 43
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 83.5%; rating input score 83
- Fundraising efficiency: $13.9 raised per $1 spent on fundraising; rating input score 48; 48th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 5 of 6 controls in place; rating input score 83
- Compensation committee: Pass
- Independent consultant: Missing
- Other Form 990s reviewed: Pass
- Written employment contract: Pass
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 98.4%; rating input score 98; 27th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- 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: -14.9%; rating input score 9; 9th percentile among comparable filings
- Total-asset coverage ratio: 7.92; rating input score 89; 89th percentile among comparable filings
- Liabilities to assets ratio: 0.04; rating input score 75; 75th percentile among comparable filings
- Officer compensation ratio: 8.9%; rating input score 34; 34th percentile among comparable filings
Growth
- Program expense growth: 3.8% per year; rating input score 100; 32nd percentile among comparable filings
- Revenue growth: 2.2% per year; rating input score 100; 22nd percentile among comparable filings
- Asset growth: 0.8% per year; rating input score 100; 15th percentile among comparable filings
Details
- Where the money goes: 100% of revenue deployed · 83.5% of spending went to programs
- Governance: 61 of 62 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $5.8M in reported program spending
- Leadership: top reported pay $321K · 65 people listed · 5 of 6 pay-setting controls reported
- Consistency: 38 of 38 current checks pass
- Schedules: 7 filed schedules · includes major donors, grants, and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 17 filed money-flow records
- Related organizations: 13 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.
- Moderate — Financial Efficiency: Fundraising efficiency scored 48/100.
- High — Sustainability: Operating margin scored 9/100.
- Moderate — Sustainability: Officer compensation ratio scored 34/100.