Turkish Philanthropy Funds Inc

Nonprofit profile at a glance

EIN
208392006
IRS 990 coverage
2015–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
6465308988
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Fund Raising and Fund Distribution

Reported finances

Revenue
$8,723,427
Expenses
$6,578,234
Assets
$36,871,399
Liabilities
$3,525,743

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

Leadership & pay

24 people listed

Executive titles in this filing

  • SENAY ATASELIM YILMAZ (EXECUTIVE DIRECTOR)

Highest reported compensation

  • SENAY ATASELIM YILMAZ (EXECUTIVE DIRECTOR): $260,522 total reported compensation
  • OZYUREK OZHARARPINAR (DIRECTOR OF PHILANTHROPY): $116,809 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 organization's mission is helping individual and corporate donors realize their philanthropic goals to meet community needs in the united states of america and in turkey

What it reported doing in 2024

Donor-advised grantmaking: tpf offers certain fund types including advised designated and friends of funds that allow donors to remain engaged in the grantmaking process by suggesting uses for their gift. Donors make grant recommendations for a grant to a specific organization or a project once tpf's staff have ensured the recipient organizations is a 501(c)(3) equivalent (for turkey) or in good standing (for u.s.) and that the organization is financially sound and has filed the necessary tax documents. Tpf's board of directors reviews and approves the grant. Grants are monitored and evaluated based on tpf's grant management procedures.

Operating model

Revenue model
Donor-supported. 92% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 91% of its reported program spending out as grants.
  • Includes noncash contributions: Reported contributions include donated property or goods.

The verdict

STRONG - 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 reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 80
  • Transparency & Controls: 67
  • Accountability: 100
  • Sustainability: 76
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 76.5%; rating input score 77
  • Program expense ratio: 82.7%; rating input score 83
  • Fundraising efficiency: $67.02 raised per $1 spent on fundraising; rating input score 82; 82nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.8%; rating input score 94; 20th 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: Pass
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Fail
    • Conducts field audits: Fail
    • May suspend future funding: Fail
    • Requires financial reports: Fail
    • Conducts site visits: Fail
    • Requires grant agreements: Pass
    • May require repayment: Fail
  • Grant itemization coverage: 93.4%; rating input score 93; 28th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 8 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: 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: 24.6%; rating input score 81; 81st percentile among comparable filings
  • Total-asset coverage ratio: 5.61; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 5.7%; rating input score 49; 49th percentile among comparable filings

Growth

  • Program expense growth: 20.7% per year; rating input score 100; 86th percentile among comparable filings
  • Revenue growth: 16.1% per year; rating input score 100; 83rd percentile among comparable filings
  • Asset growth: 18.8% per year; rating input score 100; 82nd percentile among comparable filings

Details

  • Where the money goes: 76.5% of revenue deployed · 82.7% of spending went to programs
  • Governance: 22 of 22 board members independent · 8 of 8 filing controls reported
  • Programs: 4 filed program accomplishments · $5.4M in reported program spending
  • Leadership: top reported pay $261K · 24 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 36 of 37 current checks pass · 1 finding to review
  • Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
  • Filing history: 10 filing years from 2015 to 2024
  • Contacts: How to reach this organization
  • Money network: 22 filed money-flow records
  • Related organizations: 20 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: 6 of 8 not reported.
  • Moderate — Sustainability: Officer compensation ratio scored 49/100.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.