Civic Intelligence

Turken Foundation Inc.

990 • Fiscal year 2020 • EIN 47-1421022

Jul 01, 2019 to Jun 30, 2020 • Filed on Jul 14, 2021

Organization ProfileN/A
4 West 43rd StreetNew York, NY 10036

(646) 585-4510

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.11x

Higher debt load relative to assets than 33% of similar nonprofits.

2020 filings • NTEE B • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

72nd percentile

0.80x

Higher debt load relative to revenue than 72% of similar nonprofits.

2020 filings • NTEE B • $50M-$100M nonprofits • Source year 2020

Net Margin

99th percentile

92%

Higher net margin than 99% of similar nonprofits.

2020 filings • NTEE B • $50M-$100M nonprofits • Source year 2020

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.

2020 filings • NTEE B • $50M-$100M nonprofits • Source year 2020

Asset Growth

88th percentile

31%

Faster asset growth than 88% of similar nonprofits.

2020 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

3rd percentile

-59%

Faster revenue growth than 3% of similar nonprofits.

2020 filings • NTEE B • $50M-$100M nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Up

$67,183,391

Up $15,948,255 (+31%) from 2019

Net Assets

Up

$59,700,604

Up $8,579,985 (+17%) from 2019

Liabilities

Up

$7,482,787

Up $7,368,270 (+6434%) from 2019

Revenue And Expenses
Liabilities / Revenue72nd percentileNet Margin99th percentile

Revenue

Down

$9,348,841

Down $13,504,808 (-59%) from 2019

Expenses

Down

$768,856

Down $167,827 (-18%) from 2019

Net Income

Down

$8,579,985

Down $13,336,981 (-61%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth88th percentile

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

2020

Assets$67,183,391
Liabilities$7,482,787
Net Assets$59,700,604
Open 2020 Filing

Operations Trend

Revenue Growth3rd percentile

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

2020

Revenue$9,348,841
Expenses$768,856
Net Income$8,579,985
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Jul 14, 2021
Return Version
2019v5.1
Gross Receipts
$9,348,841
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$49,344,242$66,724,377▲ $17,380,135
Cash and Non-Interest-Bearing Accounts$1,678,850$197,532▼ $1,481,318
Prepaid Expenses and Deferred Charges$12,000$33,197▲ $21,197
Intangible Assets$688$229▼ $459
Accounts Receivable$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$51,235,136$67,183,391▲ $15,948,255
Other Assets Total$199,356$228,056▲ $28,700
Liabilities
Accounts Payable and Accrued Expenses$79,636$7,447,906▲ $7,368,270
Other Liabilities$34,881$34,881→ $0
Total Liabilities$114,517$7,482,787▲ $7,368,270
Net Assets / Fund Balance
Net Assets With Donor Restrictions$29,264,097$38,490,482▲ $9,226,385
Net Assets Without Donor Restrictions$21,856,522$21,210,122▼ $646,400
Total Net Assets Fund Balance$51,120,619$59,700,604▲ $8,579,985
Total Liabilities and Net Assets / Fund Balance$51,235,136$67,183,391▲ $15,948,255

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$32,531,144-$32,531,144
Land$31,778,798-$31,778,798
Buildings$2,519,223-$2,519,223
Equipment$42,723-$42,723
Compensation and Service Providers
Top Officer Pay10th percentile

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
$9,328,385
Program Service Revenue
$19,756
Investment Income
$700
Other Revenue
$0
All Other Contributions
$100,000
Change in Net Assets
$8,579,985

Audited Revenue Reconciliation

Revenue per Audited Statements
$9,348,841
Total Revenue per Audited Statements
$9,348,841
Total Revenue per Form 990
$9,348,841
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$768,856
Total Fundraising Expense$90,106
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$372,526$26,081$90,106$488,713
Occupancy$101,469$35,006$0$136,475
Depreciation Depletion$0$73,598$0$73,598
Fees for Services Accounting$0$46,000$0$46,000
Travel$13,832$0$0$13,832
Office Expenses$0$5,815$0$5,815
Fees for Services Legal$4,423$0$0$4,423
Total Functional Expenses$492,250$186,500$90,106$768,856

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$768,856
Total Expenses per Audited Statements$768,856
Total Expenses per Form 990$768,856
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$100,000$100,000$511$99,489
Total Events$100,000$100,000$90,106$9,894
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$0$0→ $0
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 35% controlled entity
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
6465854510
Address
4 WEST 43RD STREET, NEW YORK, NY 10036

Signing Officer

Name
Behram Turan
Title
Chairman
Phone
6465854510
Signed
2021-07-14

Organization Details

Principal Officer
Behram Turan
Formed
2014
Legal Domicile
Ny
Voting Board Members
12
Independent Board Members
12
Employees
0
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”

Form 990, Part IX, Line 11G

“Grants & Scholarships 18870. 18870. 0. 0.”

Form 990, Part IX, Line 11G

“Event Direct Costs 154725. 64619. 0. 90106.”

Form 990, Part IX, Line 11G

“Real Estate Taxes 6497. 0. 6497. 0.”

Form 990, Part IX, Line 11G

“Insurance 9838. 0. 9838. 0.”

Form 990, Part IX, Line 11G

“Bank Service Charges 3753. 0. 3753. 0.”

Form 990, Part IX, Line 11G

“Meals & Entertainment 5415. 5415. 0. 0.”

Form 990, Part IX, Line 11G

“Telephone & Internet Expenses 3971. 0. 3971. 0.”

Form 990, Part IX, Line 11G

“Payroll Processing Fee 1293. 1293. 0. 0.”

Form 990, Part IX, Line 11G

“Repairs & Maintenance 432. 0. 432. 0.”

Form 990, Part IX, Line 11G

“Utilities 1590. 0. 1590. 0.”

Form 990, Part IX, Line 11G

“Auto Expenses 147. 147. 0. 0.”

Form 990, Part IX, Line 11G

“Management Fees 281376. 281376. 0. 0.”

Form 990, Part IX, Line 11G

“Dues & Subscription 806. 806. 0. 0.”

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IRS990/PrincipalOfficerNm0BEHRAM TURAN
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IRS990/ProgramServiceRevenueGrp/Desc0RENTAL INCOME
IRS990/ProgramServiceRevenueGrp/ExclusionAmt019756
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt019756
IRS990/ProgramServiceRevenueGrp/UnrelatedBusinessRevenueAmt00
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/ExpenseAmt0120339
IRS990/ProgSrvcAccomActy2Grp/GrantAmt00
IRS990/ProgSrvcAccomActy2Grp/RevenueAmt019756
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.
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IRS990/ProgSrvcAccomActy3Grp/GrantAmt00
IRS990/ProgSrvcAccomActy3Grp/RevenueAmt00
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IRS990/PYExcessBenefitTransInd0false
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IRS990/PYOtherExpensesAmt0856987
IRS990/PYProgramServiceRevenueAmt07154
IRS990/PYRevenuesLessExpensesAmt021916966
IRS990/PYSalariesCompEmpBnftPaidAmt079696
IRS990/PYTotalExpensesAmt0936683
IRS990/PYTotalRevenueAmt022853649
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReconcilationRevenueExpnssAmt08579985
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/RelatedOrganizationsAmt09226385
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt022845437
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt01577868
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt07220190
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt0519670
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt041491550
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearAmt019756
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus1YearAmt07154
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0347539
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus3YearsAmt0738026
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt067998
IRS990ScheduleA/GrossReceiptsAdmissionsGrp/TotalAmt01180473
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IRS990ScheduleA/GrossReceiptsNonUnrltBusGrp/TotalAmt0361657
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt07958216
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt0587668
IRS990ScheduleA/Total509Grp/TotalAmt043033680
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IRS990ScheduleB/ContributorInformationGrp/ContributorNum0RESTRICTED
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IRS990ScheduleD/LandGrp/InvestmentCostOrOtherBasisAmt00
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt034881
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SECURITY DEPOSITS PAYABLE
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt066871888
IRS990ScheduleD/TotalExpensesPerForm990Amt0768856
IRS990ScheduleD/TotalLiabilityAmt034881
IRS990ScheduleD/TotalRevenuePerForm990Amt09348841
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0768856
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0ANNUAL DINNER
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueEvent1Amt0100000
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IRS990/ScheduleJRequiredInd0false
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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/ExplanationTxt3Grants & Scholarships 18870. 18870. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4Event Direct Costs 154725. 64619. 0. 90106.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Real Estate Taxes 6497. 0. 6497. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Insurance 9838. 0. 9838. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Bank Service Charges 3753. 0. 3753. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Meals & Entertainment 5415. 5415. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Telephone & Internet Expenses 3971. 0. 3971. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt10Payroll Processing Fee 1293. 1293. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt11Repairs & Maintenance 432. 0. 432. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt12Utilities 1590. 0. 1590. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt13Auto Expenses 147. 147. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt14Management Fees 281376. 281376. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt15Dues & Subscription 806. 806. 0. 0.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Pt VI, Line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Pt VI, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Pt VI, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc10Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc11Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc12Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc13Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc14Form 990, Part IX, Line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc15Form 990, Part IX, Line 11g
IRS990/SchoolOperatingInd0false
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IRS990/SubjectToProxyTaxInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalAssetsGrp/BOYAmt051235136
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IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt09328385
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt090106

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$67,183,391
Liabilities
$7,482,787
Net assets
$59,700,604
Revenue
$9,348,841
Expenses
$768,856
Net income
$8,579,985
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$118$40.9$76.9$19.8$3.20$16.6
2023Detailed filing. Detailed filing data is available for this year.$99.2$38.8$60.5$2.50$2.80$0.30
2022Detailed filing. Detailed filing data is available for this year.$94.6$32.9$61.8$0.02$0.81$0.79
2020Detailed filing. Detailed filing data is available for this year.$67.2$7.48$59.7$9.35$0.77$8.58
2019Detailed filing. Detailed filing data is available for this year.$51.2$0.11$51.1$22.9$0.94$21.9
2018Detailed filing. Detailed filing data is available for this year.$45.3$16.1$29.2$2.29$1.33$0.95
2017Summary only. Only limited summary data is available for this year.$43.7$15.4$28.2$7.96$1.90$6.06
2016Detailed filing. Detailed filing data is available for this year.$22.3$0.09$22.2$1.38$2.36$0.99
2015Detailed filing. Detailed filing data is available for this year.$23.3$0.08$23.2$24.5$1.29$23.2
2014Summary only. Only limited summary data is available for this year.$0.00$0.00$0.00$0.00$0.00