BBB Wise Giving Report for
Turkish Philanthropy Funds

BBB Wise Giving Report issued May 2010
BBB Wise Giving Report expires May 2012


This BBB Accredited charity meets all 20 Standards for Charity Accountability. Find out more...


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Charity Contact Information

Name: Turkish Philanthropy Funds
Address: 216 East 45th Street, 7th Floor
  New York , NY 10017
Phone: 646-530-8988
646-530-8978
Web Address: www.tpfund.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 2007, Delaware
Affiliates: None
Stated Purpose: "to help donors realize their philanthropic goals to meet community needs in the U.S. and in Turkey."

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Evaluation Conclusions

               

Turkish Philanthropy Funds (TPF) meets the 20 Standards for Charity Accountability.
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Programs

               

TPF is a diaspora organization of the Turkish-American community that employs the community foundation model. TPF's donor centric model allows donors to give "through" rather than giving directly to TPF. As a US-based public charity, TPF offers individuals, families advisors (legal and financial), and civil society organizations a range of professional services to develop efficient and tax- effective gift plans.

For the fiscal year ended June 30, 2009, TPF's program expenses were:

  
Program services 900,495
Total Program Expenses: $900,495
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Governance

               

Chief Executive : Ozlenen E. Kalav, Chief Executive Officer
Compensation*:
 $0

Chair of the Board: Haldun Tashman
Chair's Profession / Business Affiliation: Retired

Board Size: 8

Paid Staff Size: 0

*July 1, 2008 - June 30, 2009 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances. TPF reports that the Chief Executive Officer is not compensated.
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Fund Raising

               

Method(s) Used:

Grant proposals, matching gift appeals, Internet appeals, door to door solicitations, and planned giving.
Fund raising costs were less than 1% of related contributions. (Related contributions, which totaled $3,390,616, are donations received as a result of fund raising activities.)
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Tax Status

               

This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
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Financial

               

The following information is based on TPF's audited financial statements for the fiscal year ended June 30, 2009.

Source of Funds  
Donations and grants 3,390,616
Realized gains on investments 38,753
Interest and divident income 20,537
Unrealized gains (losses) -1,345
Total Income $3,448,561


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Uses of Funds as a % of Total Expenses

Programs: 83%  Fund Raising: 1%  Administrative: 16% 

Total income   $3,448,561
  Program expenses $900,495
  Fund raising expenses 7,194
  Administrative expenses 169,758
 
Total expenses   $1,077,447
Income in Excess of Expenses   2,371,114
Beginning net assets   1,433,154
Ending net assets   3,804,268
Total liabilities   39,095
Total assets   $3,843,363


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An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the BBB Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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