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Fabsit EIN 22-2789574

Fabsit FY2020 filing

EIN  22-2789574 Public charity (501(c)(3)) Boston, MA
Form 990 (PDF)
You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →
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Size
$100K–1M
What they do
Supports American schools and hospitals in Turkey to foster excellence and develop future leaders.
Leadership
Ismail Ekmekci · President
Money in and out
$199K revenue, $253K expenses
Bottom line
77% program efficiency

Supports American schools and hospitals in Turkey to foster excellence and develop future leaders. For fiscal year 2020 it reported $199K in revenue, $253K in expenses, and $884K in net assets.Pt I

Where the money goes · FY2020
Total revenue
$199K
Pt VIII · Ln 12
Total expenses
$253K
Pt IX · Ln 25
Net assets
$884K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$54K
Where spending went · Part IX cols B–D
Program services $0.77 Management & general $0.13 Fundraising $0.10
Program efficiency
77%
of spending reaches programs
Operating runway
42.3mo
months of highly liquid reserves at operating expense rate
Surplus margin
-27%
revenue over expenses, this year

Summary of the Filing

Part I · fiscal year 2020 · Form 990
Revenue
$199K
FY2020
Expenses
$253K
FY2020
Total assets
$904K
FY2020
Total liabilities
$20K
FY2020
Total revenue
$199K
Pt VIII · Ln 12
Total expenses
$253K
Pt IX · Ln 25
Net assets
$884K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$54K
Total assetsPt X · Ln 16$904K
Program-expense ratioPt IX · col B77%
Voting members of governing bodyPt I · Ln 312
Independent voting membersPt I · Ln 412
Mission & Programs · Part III

Where the work happens

1 program service account for $195K of program spending, described in the organization's own filed words · FY2019.
01

Established to provide financial and educational assistance to schools and hospitals in turkey. The expenditures allocated to program services were actual grants and an allocation of all other expenses based on estimated time.

$195Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CFabsit
EINHdr · item D22-2789574
Principal addressHdr · item CBoston, MA
WebsiteHdr · item Jwww.fabsit.org
Year of formationHdr · item Lpending
State of legal domicileHdr · item MMA
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFInternational (Q123)
Ruling yearIRS BMFMay 1987

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a12
Independent voting membersPt VI · Ln 1b12
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
Kerem Turunc
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$172K · 87%
Program service revenue$46K · 23%
Contributions & grants87%$172K
Program service revenue23%$46K
Total revenueLn 12$199K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.77 Management & general $0.13 Fundraising $0.10
Program services77%$195K
Management & general13%$33K
Fundraising10%$25K
Total functional expensesLn 25$253K

Balance Sheet

Part X · end of year
CashLn 1$38K
Total assetsLn 16$904K
Total liabilitiesLn 26$20K
Total net assetsLn 32$884K
Months of cash on handcomputed1.8

Financial Metrics

Form 990 · FY2020 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $892K · Operating expenses/yr $253K
42.3 months
Where the money goes
Program services
Program services $195K · Total expenses $253K
77%
Management & General
Management & general $33K · Total expenses $253K
13%
Fundraising
Fundraising $25K · Total expenses $253K
10%
Cost to raise $1
Fundraising expense $25K · Solicited contributions $172K
$0.14 to raise $1
Where the money comes from
Contribution dependence
Contributions & grants $172K · Total revenue $199K
87%
Government reliance
Government grants — · Total revenue $199K
—
Earned-income share
Program service revenue $46K · Total revenue $199K
23%
Investment reliance
Investment income $-19K · Total revenue $199K
-10%
Program self-sufficiency
Program service revenue $46K · Total expenses $253K
18%
Growth & trend
Revenue growth (YoY)
This year $199K · Prior year —
No prior year on file
Net-asset trend (YoY)
End of year $884K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $199K · Expenses $253K
-27%
Liabilities-to-Assets
Total liabilities — · Total assets $904K
—
Net-asset ratio
Net assets $884K · Total assets $904K
98%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $854K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $904K
94%
People & payroll
Highest Reported Total Compensation
Individual Ismail Ekmekci · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $253K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $75K · Total expenses $253K
30%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 77%——
Overhead ratio 13%——
Fundraising cost ratio 14%——
Accounting fee ratio 1%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
Fidelity Investments Charitable Gift FundFY2024$10K
Total grants receivedfrom 1 funder$10K

Similar Organizations

Closest in mission — by what they do
Turkey Valley Education FoundationIA
American Association of Blacks in Higher Education INCDC
Academics Without Borders
American Turkish Friendship AssociationVA
Educapital FoundationNJ
American Turkish Association INCMD
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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2025 (Latest)$193K revenue · ⤓ 990 PDF
FY2024$289K revenue · ⤓ 990 PDF
FY2023$169K revenue · ⤓ 990 PDF
FY2022$366K revenue · ⤓ 990 PDF
FY2021$371K revenue · ⤓ 990 PDF
FY2020$199K revenue · viewing · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2020IRS
Classification, formation year, addressIRS Business Master File
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