Fund For Armenian Relief Inc
- Assets
- $27.9m
- Revenue
- $8.6m
- Investments
- $5.6m
- Employees
- 3
- Location
- New York, NY
- Founding
- 08/1993
- Data as of
- 12/2023
- EIN
- 13-3706646
Organization Overview
Fund For Armenian Relief Inc is located in New York, NY. The organization was established in 1993. According to its NTEE Classification (Q30) the organization is classified as: International Development, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2023, Fund For Armenian Relief Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fund For Armenian Relief 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 12/2023, Fund For Armenian Relief Inc generated $8.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 11.7% each year . All expenses for the organization totaled $5.9m during the year ending 12/2023. While expenses have increased by 2.6% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
FAR PROVIDES SHORT-TERM EMERGENCY RELIEF AND IMPLEMENTS LONG-TERM PROGRAMS FOR ECONOMIC GROWTH AND SOCIAL DEVELOPMENT OF ARMENIA BY HELPING THE CHILDREN AND ELDERLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ECONOMIC DEVELOPMENT PROGRAMS - SEE SCHEDULE O FOR PROGRAM DESCRIPTION
EDUCATIONAL PROGRAMS - SEE SCHEDULE O FOR PROGRAM DESCRIPTION.
CHILDRENS PROGRAMS - SEE SCHEDULE O FOR PROGRAM DESCRIPTION
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Garnik Nanagoulian Executive Director | OfficerTrustee | 40 | $136,000 |
Bagrat Sargsyan Country Director | Officer | 40 | $72,733 |
Bree Perlman Director Of Development | Officer | 40 | $57,500 |
Bishop Mesrop Parsamyan President | OfficerTrustee | 1 | $0 |
Randy Sapah-Gulian Chairman | OfficerTrustee | 1 | $0 |
Abp Khajag Barsamian Vice Chairman | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Focal Change Inc Promotion | 12/30/23 | $121,916 |
Kanaka Cjsc Grant Construction | 12/30/23 | $512,650 |
Red Havas Consulting | 12/30/23 | $226,944 |
Geoterm Llc Renovations | 12/30/23 | $111,938 |
Aren Meliksetyan Pe Education Services | 12/30/23 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,344,566 |
| Noncash contributions included in lines 1a–1f | $51,424 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,344,566 |
| Total Program Service Revenue | $168,305 |
| Investment income | $325,954 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $717,380 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,556,205 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $16,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $2,001,975 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $266,233 |
| Compensation of current officers, directors, key employees. | $20,169 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $907,704 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $14,656 |
| Payroll taxes | $19,110 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,669 |
| Fees for services: Accounting | $133,649 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $52,174 |
| Fees for services: Other | $362,798 |
| Advertising and promotion | $244,133 |
| Office expenses | $127,617 |
| Information technology | $6,000 |
| Royalties | $0 |
| Occupancy | $128,038 |
| Travel | $101,626 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $31,164 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $33,143 |
| Insurance | $33,543 |
| All other expenses | $25,985 |
| Total functional expenses | $5,884,833 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $180,363 |
| Savings and temporary cash investments | $3,824,795 |
| Pledges and grants receivable | $6,445,127 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $55,760 |
| Inventories for sale or use | $166,200 |
| Prepaid expenses and deferred charges | $62,527 |
| Net Land, buildings, and equipment | $1,370,877 |
| Investments—publicly traded securities | $8,122,963 |
| Investments—other securities | $5,641,462 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,075,311 |
| Total assets | $27,945,385 |
| Accounts payable and accrued expenses | $145,431 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $145,431 |
| Net assets without donor restrictions | $7,730,806 |
| Net assets with donor restrictions | $20,069,148 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $27,945,385 |
Grants Awarded
Over the last fiscal year, Fund For Armenian Relief Inc has awarded $16,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
DIOCESE OF THE ARMENIAN CHURCH EASTERN PURPOSE: Emergency Relief | $10,000 |
ST JOHN ARMENIAN CHURCH PURPOSE: Orphan Children | $6,000 |