2025-11-13T10:29:38-06:00 2024-12-31 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2024-01-01 136400773 SOFIA AMERICAN SCHOOLS INC SOFI 2129447733 12 MIDDLESEX ROAD PO BOX 67039 CHESTNUT HILL MA 02467 THEODORA KONETSOVSKA CHAIR 2129447733 2025-11-13 1 1 JOYCE RIPIANZI CPA P00548581 5083669100 2025-11-13 2024 2025-03-06 01:10:19Z EMILY SARGENT BEASLEY 12 MIDDLESEX ROAD PO BOX 67039 CHESTNUT HILL MA 02467 11209011 0 X HTTPS://WWW.ACS.BG/ X 1926 MA THE PRIMARY PURPOSE OF THE ORGANIZATION IS TO PROVIDE EDUCATION FOR BULGARIAN YOUTHS. 22 21 37 21 0 0 1333675 637153 9095029 10454478 108415 117380 0 0 10537119 11209011 1355033 1608924 0 0 6157803 6938729 0 0 0 2428168 3297532 9941004 11845185 596115 -636174 19687568 19937904 2487671 3065781 17199897 16872123 X THE ORGANIZATION WAS CREATED FOR THE SOLE PURPOSE OF PROVIDING EDUCATION FOR BULGARIAN YOUTHS. 0 0 10101906 1608924 10454478 SEE SCHEDULE OTHE ORGANIZATION OPERATES THE AMERICAN COLLEGE OF SOFIA, AN INDEPENDENT, HIGHLY SELECTIVE, CO-EDUCATIONAL NOT-FOR-PROFIT SECONDARY SCHOOL IN BULGARIA. WITH ENGLISH AS THE PRIMARY LANGUAGE OF INSTRUCTION, THE COLLEGE OFFERS A RIGOROUS CORE CURRICULUM ENRICHED BY AN ARRAY OF ELECTIVE COURSES AND EXTRA-CURRICULAR ACTIVITIES. WHILE THE COLLEGE'S PRIMARY MISSION IS TO EDUCATE BULGARIAN YOUTH, IT EMBRACES QUALIFIED STUDENTS OF ALL NATIONALITIES, RACES, AND FAITHS IN BELIEF THAT A WIDE VARIETY OF STUDENTS WILL ENRICH EDUCATIONAL OPPORTUNITIES FOR ALL. THE COLLEGE INTEGRATES THE VALUES AND BEST PRACTICES OF AMERCAN PEDAGOGY WITH THE RICH EDUCATIONAL TRADITIONS OF BULGARIA AND EUROPE. IT ASPIRES TO PREPARE STUDENTS TO MEET THE MOST DEMANDING CRITERIA OF ANY UNIVERSITY IN THE WORLD. THE COLLEGE ENABLES STUDENTS TO DEVELOP CRITICAL THINKING SKILLS, PARTICIPATE IN RESPECTFUL EXCHANGES OF DIVERSE OPINIONS, AND BECOME ENTHUSIASTIC LIFELONG LEARNERS. IN SO DOING, STUDENTS WILL LEARN TO DEMONSTRATE SENSITIVITY TO THE GLOBAL HUMAN CONDITION AND THE ENVIRONMENT, CHERISH DEMOCRATIC VALUES, AND BECOME RESPONSIBLE CITIZENS AND LEADERS. 10101906 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 4 0 1 37 1 0 1 BU 0 0 0 0 0 0 0 0 0 0 X 22 21 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA NY X AAFCPAS INC 5083669100 50 WASHINGTON STREET WESTBOROUGH MA 01581 THEODORA KONETSOVSKA CHAIR 2.00 X X 0 0 0 SAM SEYMOUR VICE CHAIR 2.00 X X 0 0 0 KATHERINE GEORGIEV TREASURER 2.00 X X 0 0 0 DAVID WILSON SECRETARY 2.00 X X 0 0 0 AVIS BOHLEN TRUSTEE 2.00 X 0 0 0 WILLIAM WILLIAMS TRUSTEE 2.00 X 0 0 0 BORIS STATEV TRUSTEE 2.00 X 0 0 0 BORISLAV STEFANOV TRUSTEE 2.00 X 0 0 0 CHRISTOPHER DELL TRUSTEE 2.00 X 0 0 0 FRANK BAUER TRUSTEE 2.00 X 0 0 0 JOEL STUDEBAKER TRUSTEE 2.00 X 0 0 0 KAREN COLLIAS TRUSTEE 2.00 X 0 0 0 MARCIE RIES TRUSTEE 2.00 X 0 0 0 DIMITER HRISTOV TRUSTEE 2.00 X 0 0 0 NEDKO KYUCHUKOV TRUSTEE 2.00 X 0 0 0 NELLIE GIPSON TRUSTEE 2.00 X 0 0 0 ROGER WHITAKER TRUSTEE 2.00 X 0 0 0 THOMAS MARSHALL TRUSTEE 2.00 X 0 0 0 TRAYAN TRAYANOV TRUSTEE 2.00 X 0 0 0 VALENTIN GEORGIEV TRUSTEE 2.00 X 0 0 0 VESSELIN ARNAUDOV TRUSTEE 2.00 X 0 0 0 EMILY SARGENT BEASLEY PRESIDENT 40.00 X 185196 92971 21538 185196 92971 21538 1 0 1 0 VESELINOV SERVICE LTD 47A 4TH STR KREMIKOVCI DISTRICT SOFIA BU 1839 MAINTENANCE OF SCHOOL BUILDINGS 149492 OLDES LTD 14 LESHTAVA STR BISTRITSA VILLA SOFIA BU 1444 CATERING SERVICES 121004 2 637153 110072 637153 TUITION AND FEES 611710 10454478 10454478 10454478 117380 117380 11209011 10454478 0 117380 1608924 1608924 299705 299705 5334697 5334697 31394 31394 1272933 1272933 38288 38288 141264 141264 165692 56154 109538 79715 79715 45460 45460 786837 346475 440362 191617 70349 121268 918323 734658 183665 21253 21253 FOREIGN EXCHANGE LOSS, 495717 495717 PROFESSIONAL MATERIALS 149102 149102 TAXES 72240 72240 MISCELLANEOUS 66797 56777 10020 125227 119485 5742 11845185 10101906 1743279 0 2717712 3003231 2065599 968824 42071 66925 208911 323542 19845984 7635407 12809568 12210577 1843707 3364805 19687568 19937904 422896 2034850 1598034 616868 466741 414063 2487671 3065781 X 15696096 15153605 1503801 1718518 17199897 16872123 19687568 19937904 -636174 308400 0 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1476531 55036 206730 47049 1691248 1305859 50756 155251 35336 1476530 1405946 -85251 14836 1305859 1168530 255223 17807 1405946 1042099 144739 18306 1168532 0.51700 0.48300 0 0 16027259 4982997 11044262 3818725 2652410 1166315 12210577 LONG-TERM EMPLOYEE BENEFITS PAYABLE 414063 414063 X 9908487 308400 308400 9600087 1608924 1608924 11209011 10236261 0 10236261 1608924 1608924 11845185 PART V, LINE 4: ENDOWMENT FUNDS INCLUDE PERMANENTLY AND TEMPORARILY RESTRICTED ASSETS HELD TO FUND OR TO PROVIDE A SOURCE OF INCOME TO FUND SCHOLARSHIPS AND PRIZES, AND TO OTHERWISE MAINTAIN THE EDUCATIONAL AND GENERAL NEEDS OF THE AMERCAN COLLEGE OF SOFIA. PART X, LINE 2: THE ORGANIZATION HAS CONCLUDED THAT THERE ARE NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. IF THE ORGANIZATION WAS TO INCUR AN INCOME TAX LIABILITY IN THE FUTURE, INTEREST ON ANY INCOME TAX LIABILITY WOULD BE REPORTED AS INTEREST EXPENSE AND PENALTIES ON ANY INCOME TAX LIABILITY WOULD BE REPORTED AS INCOME TAXES. THE ORGANIZATION'S CONCLUSIONS REGARDING UNCERTAIN TAX POSITIONS MAY BE SUBJECT TO REVIEW AND ADJUSTMENT AT A LATER DATE BASED UPON ONGOING ANALYSES OF TAX LAWS, REGULATIONS AND INTERPRETATIONS THEREOF AS WELL AS OTHERS FACTORS. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST EDUCATION FEE 1,608,924. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED AGAINST EDUCATION FEE 1,608,924. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ALL ANNOUNCEMENTS INDICATE THAT ENROLLMENT IS OPEN TO ALL WHO APPLY AND THAT ACCEPTANCE IS BASED ON ENTRANCE EXAMINATION SCORES. 1 EUROPE 1 224 PROGRAM SERVICES OPERATION OF SECONDARY SCHOOL 9741928 1 224 0 0 1 224 9741928 0 9741928 FINANCIAL AID EUROPE 310 1608924 TUITION WAVER FMV 0 0 0 0 0 0 PART I, LINE 2: THE SCHOOL OFFERS NEED-BASED FINANCIAL AID TO THOSE STUDENTS WHO HAVE SUCCESSFULLY PASSED THE ENTRANCE EXAM, AS WELL AS SCHOLARSHIPS ESTABLISHED BY DONORS. ALL SUCH FINANCIAL AID IS AWARDED IN THE FORM OF A TUITION FEE REDUCTION WHICH ENSURES THAT THE FUNDS ARE USED ONLY FOR TUITION PURPOSES AND ARE NOT OTHERWISE DIVERTED. PART I, LINE 3F: OPERATION OF SECONDARY SCHOOL IN SOFIA, BULGARIA, SERVING APPROX 900 STUDENTS. THE SCHOOL PROVIDES TEACHERS AND ADMINSTRATION AS WELL AS FACILITIES. X X X 1 1 X X 0 0 0 0 0 0 0 0 1 1 EMILY SARGENT BEASLEY PRESIDENT 185196 0 0 0 0 92971 0 0 0 21538 185196 114509 0 0 PART I, LINE 1A THE ORGANIZATION IS REQUIRED TO PROVIDE ECONOMY ROUNDTRIP AIRFARE FOR THE SPOUSE OF THE PRESIDENT ONCE EACH YEAR PER HIS/HER CONTRACT. THE PRESIDENT HAS THE USE OF A CREDIT CARD IN THE ORGANIZATION'S NAME, WHICH IS USED BY HIM/HER FOR ANNUAL RECRUITING TRAVEL AND RELATED EXPENSES. THE PRESIDENT IS REQUIRED, BY THE TERMS OF THE CONTRACT, TO LIVE IN A RESIDENCE ON THE CAMPUS PROVIDED BY THE ORGANIZATION. PART I, LINE 8 THE AMOUNT PAID TO THE ORGANIZATION'S PRESIDENT WAS PAID PURSUANT TO HIS/HER INITIAL WRITTEN CONTRACT AND IS ELIGIBLE FOR THE INITIAL CONTRACT EXCEPTION DESCRIBED IN TREASURY REGS. SECTION 53.4958-4(A)(3). X 1 110072 FMV 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE BYLAWS OF THE ORGANIZATION PROVIDE FOR MEMBERS OF THE CORPORATION WHO SERVE THREE YEAR TERMS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE CORPORATION ELECT MEMBERS AND ELECT THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE EXECUTIVE COMMITTEE OF THE BOARD REVIEWS FORM 990. FORM 990, PART VI, SECTION B, LINE 12C EACH OFFICER AND TRUSTEE IS REQUIRED TO COMPLETE AND SIGN AN ANNUAL CONFLICT OF INTEREST AND RELATED PARTY TRANSACTION QUESTIONNAIRE PRIOR TO THE FILING OF FORM 990. IF ANY CONFLICTS WERE DISCLOSED, THE BOARD WOULD REVIEW, RESOLVE AND DOCUMENT THE ACTIVITY IN THE MINUTES. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION OF THE PRESIDENT IS DETERMINED BY THE BOARD OF TRUSTEES AND IS DOCUMENTED BY A CONTRACT BETWEEN THE ORGANIZATION AND THE INDIVIDUAL. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION WILL PROVIDE COPIES OF ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS UPON REQUEST. FORM 990, PART XII, LINE 2C: THE PROCESS FOR AUDIT OVERSIGHT AND THE SELECTED AUDITOR HAS NOT CHANGED FROM THE PRIOR YEAR.