Civic Intelligence

Turken Foundation Inc.

990 • Fiscal year 2019 • EIN 47-1421022

Jul 01, 2018 to Jun 30, 2019 • Filed on Mar 10, 2020

4 West 43rd StreetNew York, NY 10036

(718) 791-5002

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

8th percentile

0.00x

Higher debt load relative to assets than 8% of similar nonprofits.

2019 filings • NTEE B • $50M-$100M nonprofits • Source year 2019

Liabilities / Revenue

5th percentile

0.01x

Higher debt load relative to revenue than 5% of similar nonprofits.

2019 filings • NTEE B • $50M-$100M nonprofits • Source year 2019

Net Margin

99th percentile

96%

Higher net margin than 99% of similar nonprofits.

2019 filings • NTEE B • $50M-$100M nonprofits • Source year 2019

Top Officer Pay

10th percentile

$0

Higher top officer pay than 10% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • NTEE B • $50M-$100M nonprofits • Source year 2019

Asset Growth

80th percentile

13%

Faster asset growth than 80% of similar nonprofits.

2019 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2018 to 2019

Revenue Growth

99th percentile

899%

Faster revenue growth than 99% of similar nonprofits.

2019 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2018 to 2019

Assets

Up

$51,235,136

Up $5,916,197 (+13%) from 2018

Net Assets

Up

$51,120,619

Up $21,916,966 (+75%) from 2018

Liabilities

Down

$114,517

Down $16,000,769 (-99%) from 2018

Revenue

Up

$22,853,649

Up $20,566,585 (+899%) from 2018

Expenses

Down

$936,683

Down $395,753 (-30%) from 2018

Net Income

Up

$21,916,966

Up $20,962,338 (+2196%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2014: $1Liabilities 2014: $02014Assets 2015: $23,256,320Liabilities 2015: $83,007Net Assets 2015: $23,173,3132015Assets 2016: $22,278,849Liabilities 2016: $91,464Net Assets 2016: $22,187,3852016Assets 2017: $43,680,873Liabilities 2017: $15,431,848Net Assets 2017: $28,249,0252017Assets 2018: $45,318,939Liabilities 2018: $16,115,286Net Assets 2018: $29,203,6532018Assets 2019: $51,235,136Liabilities 2019: $114,517Net Assets 2019: $51,120,6192019Assets 2020: $67,183,391Liabilities 2020: $7,482,787Net Assets 2020: $59,700,6042020Assets 2022: $94,636,659Liabilities 2022: $32,876,494Net Assets 2022: $61,760,1652022Assets 2023: $99,212,722Liabilities 2023: $38,750,210Net Assets 2023: $60,462,5122023Assets 2024: $117,880,230Liabilities 2024: $40,948,922Net Assets 2024: $76,931,3082024

Highlighted filing

2019

Assets$51,235,136
Liabilities$114,517
Net Assets$51,120,619

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$30M$20M$10M$0-$10MRevenue 2014: $0Expenses 2014: $0Net Income 2014: $02014Revenue 2015: $24,460,759Expenses 2015: $1,287,446Net Income 2015: $23,173,3132015Revenue 2016: $1,378,620Expenses 2016: $2,364,548Net Income 2016: -$985,9282016Revenue 2017: $7,958,227Expenses 2017: $1,898,967Net Income 2017: $6,059,2602017Revenue 2018: $2,287,064Expenses 2018: $1,332,436Net Income 2018: $954,6282018Revenue 2019: $22,853,649Expenses 2019: $936,683Net Income 2019: $21,916,9662019Revenue 2020: $9,348,841Expenses 2020: $768,856Net Income 2020: $8,579,9852020Revenue 2022: $18,984Expenses 2022: $807,223Net Income 2022: -$788,2392022Revenue 2023: $2,497,019Expenses 2023: $2,800,822Net Income 2023: -$303,8032023Revenue 2024: $19,767,826Expenses 2024: $3,195,433Net Income 2024: $16,572,3932024

Highlighted filing

2019

Revenue$22,853,649
Expenses$936,683
Net Income$21,916,966
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Mar 10, 2020
Return Version
2018v3.1
Gross Receipts
$22,853,649
Mission and Program Overview

Mission

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$39,585,847$49,344,242▲ $9,758,395
Loans From Officers Directors$15,532,329$0▼ $15,532,329
Cash and Non-Interest-Bearing Accounts$5,367,089$1,678,850▼ $3,688,239
Prepaid Expenses and Deferred Charges$2,000$12,000▲ $10,000
Accounts Receivable$700$0▼ $700
Intangible Assets$1,147$688▼ $459
Total Assets$45,318,939$51,235,136▲ $5,916,197
Other Assets Total$362,156$199,356▼ $162,800
Liabilities
Accounts Payable and Accrued Expenses$542,271$79,636▼ $462,635
Other Liabilities$40,686$34,881▼ $5,805
Total Liabilities$16,115,286$114,517▼ $16,000,769
Net Assets / Fund Balance
Unrestricted Net Assets$22,703,743$36,656,522▲ $13,952,779
Permanently Rstr Net Assets$6,499,910$14,464,097▲ $7,964,187
Total Net Assets Fund Balance$29,203,653$51,120,619▲ $21,916,966
Total Liabilities and Net Assets / Fund Balance$45,318,939$51,235,136▲ $5,916,197

Asset Categories

AssetBook ValueDepreciationBasis
Land$31,778,798-$31,778,798
Other Land Buildings$15,114,743-$15,114,743
Buildings$2,482,350-$2,482,350
Equipment$42,723-$42,723
Compensation and Service Providers

Board Members and Trustees

NameTitle
Behram TuranChairman
Ahmet BayraktutarDirector
Esra AlbayrakDirector
Fehmi BilgeDirector
Ibrahim BacaciDirector
Melike KabatasDirector
Mustafa IlbeyliDirector
Omer Faruk AlbayrakDirector
Selim CakirDirector
Zulkarneyn VardarDirector
Haluk GaniGeneral Secretary
Memis YetimTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$22,845,437
Program Service Revenue
$7,154
Investment Income
$1,058
Other Revenue
$0
All Other Contributions
$81,250
Change in Net Assets
$21,916,966

Audited Revenue Reconciliation

Revenue per Audited Statements
$22,853,649
Total Revenue per Audited Statements
$22,853,649
Total Revenue per Form 990
$22,853,649
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$856,987
Total Fundraising Expense$115,469
Salaries, Compensation, and Employee Benefits$79,696
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$516,041$20,062$115,469$651,572
Occupancy$42,059$33,660$0$75,719
Other Salaries and Wages$0$73,599$0$73,599
Depreciation Depletion$0$72,652$0$72,652
Travel$26,212$0$0$26,212
Office Expenses$0$26,013$0$26,013
Payroll Taxes$0$6,097$0$6,097
Fees for Services Legal$4,819$0$0$4,819
Total Functional Expenses$589,131$232,083$115,469$936,683

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$936,683
Total Expenses per Audited Statements$936,683
Total Expenses per Form 990$936,683
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Dinner$81,240$81,240$7,395$73,845
Total Events$81,240$81,240$115,469$-34,229
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$15,532,329$0▼ $15,532,329
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Security Deposits Payable$34,881
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Turken Foundation Inc
EIN
47-1421022
Phone
7187915002
Address
4 WEST 43RD STREET, NEW YORK, NY 10036

Signing Officer

Name
Behram Turan
Title
Chairman
Phone
7187915002
Signed
2020-03-10

Organization Details

Principal Officer
Behram Turan
Formed
2014
Legal Domicile
Ny
Voting Board Members
12
Independent Board Members
12
Employees
2
Volunteers
44

Preparer

Firm
M Hassanali CPA PLLC
Address
400 Post Ave Suite 211, Westbury, NY 11590
Preparer
Mustali Hassanali
Phone
2126455955
Supplemental Narrative

Additional Explanations

Pt VI, Line 8B

The board maintians board minutes for each meeting and keep a copy in office. Actions are taken on decisions made in meetings and updates are provided in next meetings

Pt VI, Line 11B

Form 990 and related financials was presented to the board for review prior to filing

Pt VI, Line 12C

The board on annual basis discloses any conflict of interest that they may have that can impact the Organization

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IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDE 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
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt067230
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt07154
IRS990/ProgSrvcAccomActy3Grp/Desc0CULTURAL AND SOCIAL AWARENESS PROGRAMS AND EXPERIENCES FOR STUDENTS TO LEARN MORE ABOUT MUSLIM CULTURES AND TO PROMOTE CROSS-CULTURAL RELATIONSHIPS BETWEEN MUSLIM CULTURES AND TRADITIONS WITH AMERICAN CULTURES AND TRADITIONS.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0521901
IRS990/ProgSrvcAccomActy3Grp/GrantAmt00
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt00
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt01577868
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0100000
IRS990/PYInvestmentIncomeAmt0361657
IRS990/PYOtherExpensesAmt01066725
IRS990/PYProgramServiceRevenueAmt0347539
IRS990/PYRevenuesLessExpensesAmt0954628
IRS990/PYSalariesCompEmpBnftPaidAmt0165711
IRS990/PYTotalExpensesAmt01332436
IRS990/PYTotalRevenueAmt02287064
IRS990/QuidProQuoContributionsInd0false
IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt021916966
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt022764187
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt00
IRS990ScheduleA/AmountsRcvdDsqlfyPersonGrp/TotalAmt00
IRS990ScheduleA/First5Years509Ind0X
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt022845437
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01577868
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt07220190
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt0519670
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt024388887
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt056552052
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt07154
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt0347539
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0738026
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt067998
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01160717
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/CurrentTaxYearMinus1YearAmt0361657
IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt0361657
IRS990ScheduleA/InvestmentIncomeCYPct00
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/PubliclySupportedOrg509a2Ind0X
IRS990ScheduleA/PublicSupportCY170Pct00
IRS990ScheduleA/PublicSupportCY509Pct00
IRS990ScheduleA/PublicSupportTotal509Amt058074426
IRS990ScheduleA/SubstAndDsqlfyPrsnsTotGrp/TotalAmt00
IRS990ScheduleA/SubstantialContributorsAmtGrp/TotalAmt00
IRS990ScheduleA/TaxRevLeviedOrgnztnlBnft509Grp/TotalAmt00
IRS990ScheduleA/Total509Grp/CurrentTaxYearAmt022852591
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus1YearAmt02287064
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus2YearsAmt07958216
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt0587668
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt024388887
IRS990ScheduleA/Total509Grp/TotalAmt058074426
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt058074426
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine20RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/City0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/ZIPCode0RESTRICTED
IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd0true
IRS990ScheduleD/BuildingsGrp/BookValueAmt02482350
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt02482350
IRS990ScheduleD/EquipmentGrp/BookValueAmt042723
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt042723
IRS990ScheduleD/ExpensesSubtotalAmt0936683
IRS990ScheduleD/LandGrp/BookValueAmt031778798
IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt031778798
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt015114743
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt015114743
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt034881
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS PAYABLE
IRS990ScheduleD/RevenueSubtotalAmt022853649
IRS990ScheduleD/TotalBookValueLandBuildingsAmt049418614
IRS990ScheduleD/TotalExpensesPerForm990Amt0936683
IRS990ScheduleD/TotalLiabilityAmt034881
IRS990ScheduleD/TotalRevenuePerForm990Amt022853649
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt022853649
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0936683
IRS990ScheduleG/FundraisingEventInformationGrp/DirectExpenseSummaryEventsAmt0115469
IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ANNUAL DINNER
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsEvent1Amt081240
IRS990ScheduleG/FundraisingEventInformationGrp/GrossReceiptsTotalAmt081240
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt081240
IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt081240
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt0-34229
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt07395
IRS990ScheduleG/FundraisingEventInformationGrp/OtherDirectExpensesEvent1Amt07395
IRS990ScheduleG/FundraisingEventInformationGrp/RentFacilityCostsEvent1Amt0108074
IRS990ScheduleG/FundraisingEventInformationGrp/RentFcltyCostsTotalEventsAmt0108074
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0false
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The board maintians board minutes for each meeting and keep a copy in office. Actions are taken on decisions made in meetings and updates are provided in next meetings
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Form 990 and related financials was presented to the board for review prior to filing
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The board on annual basis discloses any conflict of interest that they may have that can impact the Organization
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TempOrPermanentEndowmentsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt045318939
IRS990/TotalAssetsEOYAmt051235136
IRS990/TotalAssetsGrp/BOYAmt045318939
IRS990/TotalAssetsGrp/EOYAmt051235136
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt022845437
IRS990/TotalEmployeeCnt02
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt0115469
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0232083
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0589131
IRS990/TotalFunctionalExpensesGrp/TotalAmt0936683
IRS990/TotalGrossUBIAmt01058
IRS990/TotalLiabilitiesBOYAmt016115286
IRS990/TotalLiabilitiesEOYAmt0114517
IRS990/TotalLiabilitiesGrp/BOYAmt016115286
IRS990/TotalLiabilitiesGrp/EOYAmt0114517
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt029203653
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt051120619
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt0589131
IRS990/TotalProgramServiceRevenueAmt07154
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt07154
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt022853649
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt01058
IRS990/TotalVolunteersCnt044
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt045318939
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt051235136
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt00
IRS990/TravelGrp/ManagementAndGeneralAmt00
IRS990/TravelGrp/ProgramServicesAmt026212

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