Turken Foundation Inc

Nonprofit profile at a glance

EIN
471421022
IRS 990 coverage
2014–2023
Forms available
Form 990 2023
Location
New York, NY, USA
Phone
6465854510
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Reported finances

Revenue
$19,646,301
Expenses
$3,117,849
Assets
$117,368,470
Liabilities
$40,377,676

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

11 people listed

People named in this filing

  • BEHRAM TURAN (CHAIRMAN)
  • MEMIS YETIM (TREASURER)
  • ESRA ALBAYRAK (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Provide student housing, educational grants and scholarships and promote cultural awareness through education.

What it reported doing in 2023

Provide student housing including grants & subsidies to meet the gap in culturally & religiously appropriate housing in the New York city & beyond for muslim students. The housing to include protecting the privacy of female students, provide gender separation in living accomodations, provide halal food service, enforce restrictions against the use of drugs, alcohol and to provide prayer rooms and religious support for holy days.the foundation has also provided subsidized housing to various students during the current year

Operating model

Revenue model
Affiliate-supported. 100% of the money available for current operations came from contributions from related organizations.
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 - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 37
  • Transparency & Controls: 81
  • Accountability: 100
  • Sustainability: 92
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 13.9%; rating input score 14
  • Program expense ratio: 87.6%; rating input score 88
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 85.7%; rating input score 86; 1st percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 84.1%; rating input score 98; 98th percentile among comparable filings
  • Total-asset coverage ratio: 37.64; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.34; rating input score 44; 44th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 96; 96th percentile among comparable filings

Growth

  • Program expense growth: 6.9% per year; rating input score 100; 57th percentile among comparable filings
  • Revenue growth: -5% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 16.7% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 13.9% of revenue deployed · 87.6% of spending went to programs
  • Governance: 11 of 11 board members independent · 7 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $2.7M in reported program spending
  • Leadership: top reported pay $0 · 11 people listed
  • Consistency: 21 of 24 current checks pass · 3 findings to review
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 8 filing years from 2014 to 2023
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Mission deployment rate scored 14/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Transparency & Controls: Schedule D expense reconciliation did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Schedule D revenue reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 44/100.