Civic Intelligence

Raf New Inc

990 • Fiscal year 2023 • EIN 93-2369284

Jun 23, 2023 to Dec 31, 2023 • Filed on Oct 21, 2024

Organization ProfileRAFONLINE.ORG
31 West 34th St Ste 7010 7th FLNew York, NY 10001

(212) 812-4362

Siviq Scores

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

Liabilities / Assets

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

27th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Net Margin

98th percentile

100%

Higher net margin than 98% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

80th percentile

$94,447

Higher top officer pay than 80% of similar nonprofits.

Top officer pay equals 4.1% of source-year revenue.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2023

Balance Sheet
Liabilities / Assets27th percentile

Assets

$2,308,458

No earlier filing loaded for comparison.

Net Assets

$2,308,458

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue27th percentileNet Margin98th percentile

Revenue

$2,318,999

No earlier filing loaded for comparison.

Expenses

$10,541

No earlier filing loaded for comparison.

Net Income

$2,308,458

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$200M$150M$100M$50M$0Assets 2023: $2,308,458Liabilities 2023: $0Net Assets 2023: $2,308,4582023Assets 2024: $175,123,528Liabilities 2024: $2,007,760Net Assets 2024: $173,115,7682024

Highlighted filing

2023

Assets$2,308,458
Liabilities$0
Net Assets$2,308,458
Open 2023 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$200M$150M$100M$50M$0Revenue 2023: $2,318,999Expenses 2023: $10,541Net Income 2023: $2,308,4582023Revenue 2024: $170,796,519Expenses 2024: $7,779,441Net Income 2024: $163,017,0782024

Highlighted filing

2023

Revenue$2,318,999
Expenses$10,541
Net Income$2,308,458
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jun 23, 2023 to Dec 31, 2023
Signed
Oct 21, 2024
Return Version
2023v5.1
Gross Receipts
$2,318,999
Mission and Program Overview

Mission

To strengthen and promote conditions for a sustainable market economy and a democratic society that provides access to opportunity for all segments of the romanian society.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$0$2,308,458▲ $2,308,458
Total Assets$0$2,308,458▲ $2,308,458
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$2,308,458-
Total Net Assets Fund Balance$0$2,308,458▲ $2,308,458
Total Liabilities and Net Assets / Fund Balance$0$2,308,458▲ $2,308,458

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$2,308,458$10,541$2,318,999
Compensation and Service Providers
Top Officer Pay80th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Roxana VitanPresidentPT$94,447$94,447
Bogdan GiurgincaTreasurer & CFOPT$66,114$66,114

Board Members and Trustees

NameTitle
Paige AlexanderChairman
Magdalena ManeaVice Chairman
Adrian IonescuTrustee
Bogdan VernescuTrustee
Christopher WormanTrustee
Cristian NacuTrustee
Dinu-mihail BumbceaTrustee
Gary HattemTrustee
James J JacksonTrustee
Joyce S KlineTrustee
Kristina Perkin DavisonTrustee
Krystyna WolniakowskiTrustee
Walter VeirsTrustee
Emily GrandAssistant Corporate Secretary
Arthur HickokCorporate Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$2,318,999
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$2,308,458

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Real Estate Commercial1$2,318,999Fair Market Value
Total Noncash Contributions1$2,318,999-

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,318,999
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,318,999
Total Revenue per Form 990
$2,318,999
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$10,541
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion-$10,541-$10,541
Total Functional Expenses$0$10,541$0$10,541

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$10,541
Total Expenses per Audited Statements$10,541
Total Expenses per Form 990$10,541
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
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

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Officers arthur hickok and emily grand have a family relationship and a business relationship.”

Form 990, Part VI, Section B, Line 11B

“The form 990 is prepared by an independent certified public accounting firm using the organization's certified financial-records and through discussions with the organization's president and chief financial officer. The president then reviews the form 990 with the members of the organization's board of trustees. Each member is provided with access to the form 990 prior to filing with the internal revenue service.”

Form 990, Part VI, Section B, Line 12C

“The organization's independent auditors confirm with each trustee and key employee that they have complied with the policy's requirements during the organization's annual audit.”

Form 990, Part VI, Section C, Line 19

“The organization's financial statements are available to the public upon written request. The organization's conflict of interest policy and governing documents are not available to the public.”

Filing and Contact Details

Filer

Filer Name
Raf New Inc
EIN
93-2369284
Phone
2128124362
Address
31 WEST 34TH ST STE 7010 7TH FL, NEW YORK, NY 10001

Signing Officer

Name
Arthur Hickok
Title
Secretary
Phone
2128124362
Signed
2024-10-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Bogdan Vernescu
Formed
2023
Legal Domicile
De
Voting Board Members
13
Independent Board Members
13
Employees
0
Volunteers
13

Preparer

Firm
Citrin Cooperman Advisors LLC
Address
500 EXCHANGE STREET SUITE 9-100, PROVIDENCE, RI 02903
Preparer
Amber Bichun
Phone
4014214800
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt02308458
IRS990ScheduleD/TotalExpensesPerForm990Amt010541
IRS990ScheduleD/TotalRevenuePerForm990Amt02318999
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02318999
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt010541
IRS990/ScheduleJRequiredInd00
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/Form8283ReceivedCnt00
IRS990ScheduleM/RealEstateCommercialGrp/ContributionCnt01
IRS990ScheduleM/RealEstateCommercialGrp/MethodOfDeterminingRevenuesTxt0FAIR MARKET VALUE
IRS990ScheduleM/RealEstateCommercialGrp/NonCashCheckboxInd0X
IRS990ScheduleM/RealEstateCommercialGrp/NoncashContributionsRptF990Amt02318999
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0OFFICERS ARTHUR HICKOK AND EMILY GRAND HAVE A FAMILY RELATIONSHIP AND A BUSINESS RELATIONSHIP.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS PREPARED BY AN INDEPENDENT CERTIFIED PUBLIC ACCOUNTING FIRM USING THE ORGANIZATION'S CERTIFIED FINANCIAL-RECORDS AND THROUGH DISCUSSIONS WITH THE ORGANIZATION'S PRESIDENT AND CHIEF FINANCIAL OFFICER. THE PRESIDENT THEN REVIEWS THE FORM 990 WITH THE MEMBERS OF THE ORGANIZATION'S BOARD OF TRUSTEES. EACH MEMBER IS PROVIDED WITH ACCESS TO THE FORM 990 PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION'S INDEPENDENT AUDITORS CONFIRM WITH EACH TRUSTEE AND KEY EMPLOYEE THAT THEY HAVE COMPLIED WITH THE POLICY'S REQUIREMENTS DURING THE ORGANIZATION'S ANNUAL AUDIT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd01
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd11
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0ROMANIAN-AMERICAN FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0ROMANIAN-AMERICAN FOUNDATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1FUNDATIA ROMANO-AMERICANA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0271095214
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(4)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ForeignAddress/AddressLine1Txt06 GINA PATRICHI ST
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ForeignAddress/CityNm0BUCHAREST
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ForeignAddress/CountryCd0RO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileForeignCountryCd0RO
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0DE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0DEVELOPING ENTREPRENEURSHIP, EDUCATION, PHILANTHROPY, INNOVATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1ROMANIA SUB OF RAF
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt031 WEST 34TH ST STE 7010 7TH FL
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0NEW YORK
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0NY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd010001
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd00
IRS990ScheduleR/TransactionsRelatedOrgGrp/InvolvedAmt02318999
IRS990ScheduleR/TransactionsRelatedOrgGrp/MethodOfAmountDeterminationTxt0FMV
IRS990ScheduleR/TransactionsRelatedOrgGrp/OtherOrganizationName/BusinessNameLine1Txt0ROMANIAN-AMERICAN FOUNDATION
IRS990ScheduleR/TransactionsRelatedOrgGrp/TransactionTypeTxt0C
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0DE
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsEOYAmt02308458
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt02308458
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt02318999
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt010541
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt010541
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02308458
IRS990/TotalOtherCompensationAmt00
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02318999
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt013
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02308458
IRS990/TotReportableCompRltdOrgAmt0160561
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt031 WEST 34TH ST STE 7010 7TH FL
IRS990/USAddress/CityNm0NEW YORK
IRS990/USAddress/StateAbbreviationCd0NY
IRS990/USAddress/ZIPCd010001
IRS990/VotingMembersGoverningBodyCnt013
IRS990/VotingMembersIndependentCnt013
IRS990/WebsiteAddressTxt0RAFONLINE.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ARTHUR HICKOK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum02128124362
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-10-21
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0RAF NEW INC
ReturnHeader/Filer/BusinessNameControlTxt0RAFN
ReturnHeader/Filer/EIN0932369284
ReturnHeader/Filer/PhoneNum02128124362

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,308,458
Liabilities
$0
Net assets
$2,308,458
Revenue
$2,318,999
Expenses
$10,541
Net income
$2,308,458
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$175$2.01$173$171$7.78$163
2023Detailed filing. Detailed filing data is available for this year.$2.31$0.00$2.31$2.32$0.01$2.31