New York Armenian Home Inc
- Assets
- $602.0k
- Revenue
- $246.1k
- Investments
- $139.4k
- Employees
- 0
- Location
- Forest Hills, NY
- Founding
- 03/1950
- Data as of
- 12/2022
- EIN
- 11-1733759
Organization Overview
New York Armenian Home Inc is located in Forest Hills, NY. The organization was established in 1950. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York Armenian Home Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, New York Armenian Home Inc generated $246.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (17.6%) each year. All expenses for the organization totaled $417.1k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (15.0%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION PROVIDED CUSTODIAL AND PERSONAL CARE SERVICES FOR ELDERLY INDIVIDUALS THROUGH APRIL OF 2018 WHEN IT CEASED OPERATIONS AND SOLD ITS PROPERTY. THE ORGANIZATION IS CURRENTLY PURSUING VARIOUS PLANS TO USE THE PROCEEDS FROM THE SALE OF THEIR FORMER PROPERTY IN OTHER LOCATIONS CONSISTENT WITH IT'S MISSION AND PURPOSE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2018, THE ORGANIZATION SOLD ITS PROPERTY UTILIZED TO CARRY OUT ITS EXEMPT PURPOSE AND WILL BE USING PROCEEDS TO BUILD ANOTHER ADULT CARE FACILITY. THE ORGANIZATION IS CURRENTLY IN THE PLANNING STAGE OF CONSTRUCTION AND WILL BE CARRYING OUT ITS MISSION WHEN THE BUILDING IS COMPLETED.
THE ORGANIZATION CONTRIBUTED TO THE FOUNDATION OF THE NEW YORK ARMENIAN HOME INC AND ARMENIAN HOME OF NEW YORK , INC IN FURTHERANCE OF ITS MISSION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Neiri Amirian Chairperson | 15 | $0 | |
Craig Kallem Vice Chairman | 10 | $0 | |
Armen Caprielian Treasurer | 4 | $0 | |
Arousiag Markarian Secretary | 3 | $0 | |
Mardiros Anatasian Board Member | 1 | $0 | |
Alan Arifian Board Member | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $229,502 |
| Interest on Savings | $7,760 |
| Dividends & Interest | $8,819 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $0 |
| Capital Gain Net Income | $0 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $246,081 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $134 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $18 |
| Other expenses | $21,505 |
| Total operating and administrative expenses | $417,041 |
| Contributions, gifts, grants paid | $75 |
| Total expenses and disbursements | $417,116 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $462,604 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $7,911 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $601,970 |
| Accounts payable and accrued expenses | $6,017 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $28,753 |
| Total liabilities | $34,770 |
Grants Awarded
Over the last fiscal year, New York Armenian Home Inc has awarded $49,098,772 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
FOUNDATION OF NEW YORK ARMENIAN HOME INC PURPOSE: THE ORGANIZATION CONTRIBUTED TO THE FOUNDATION OF THE NEW YORK ARMENIAN HOME INC IN FURTHERANCE OF ITS MISSION. | $35,097,422 |
ARMENIAN HOME OF NEW YORK INC PURPOSE: THE ORGANIZATION CONTRIBUTED TO THE ARMENIAN HOME OF NEW YORK, INC IN FURTHERANCE OF ITS MISSION. | $14,001,350 |