Armenian Church Endowment Fund Inc
- Assets
- $127.4m
- Revenue
- $190.1k
- Investments
- $117.4m
- Employees
- 1
- Location
- New York, NY
- Founding
- 08/2005
- Data as of
- 12/2020
- EIN
- 20-2821426
Organization Overview
Armenian Church Endowment Fund Inc is located in New York, NY. The organization was established in 2005. According to its NTEE Classification (X90) the organization is classified as: Interfaith Coalitions, under the broad grouping of Religion-Related and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Armenian Church Endowment Fund 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 12/2020, Armenian Church Endowment Fund Inc generated $190.1k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (40.9%) each year. All expenses for the organization totaled $3.5m during the year ending 12/2020. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Armenian Church Endowment Fund Inc has awarded 174 individual grants totaling $15,327,005. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
ARMENIAN CHURCH ENDOWMENT FUND'S ("ACEF") MISSION IS TO PROVIDE PROFESSIONAL ASSET MANAGEMENT SERVICES TO THE PARISHES AND RELATED ENTITIES OF THE DIOCESE OF THE ARMENIAN CHURCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O FOR A COMPLETE PROGRAM DESCRIPTION FOR THE ARMENIAN CHURCH ENDOWMENT FUND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bishop Daniel Findikyan President | OfficerTrustee | 1 | $0 |
Melanie Dadourian Co-Chair | OfficerTrustee | 1 | $0 |
Robert E Cannuscio Secretary | OfficerTrustee | 1 | $0 |
Eric Baroyan Co-Chair | OfficerTrustee | 1 | $0 |
Gregory Zorthian Vice Chair | OfficerTrustee | 1 | $0 |
Aline Khatchadourian Treasurer | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $857,223 |
| Investment income | $67,554 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$989,979 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $190,058 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $425,038 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $102,427 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $12,484 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $110,640 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $370,800 |
| Fees for services: Other | $0 |
| Advertising and promotion | $4,613 |
| Office expenses | $4,298 |
| Information technology | $6,299 |
| Royalties | $0 |
| Occupancy | $36,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $469 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $44,040 |
| All other expenses | $0 |
| Total functional expenses | $3,477,120 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $488,654 |
| Savings and temporary cash investments | $6,019,269 |
| Pledges and grants receivable | $69,900 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $87,598 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $3,383,833 |
| Investments—other securities | $117,384,709 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $127,433,963 |
| Accounts payable and accrued expenses | $21,911 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $46,316,329 |
| 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 | $60,123 |
| Total liabilities | $46,398,363 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $81,035,600 |
Grants Awarded
Over the last fiscal year, Armenian Church Endowment Fund Inc has awarded $2,317,264 in support to 26 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: PROGRAMS | $1,176,930 |
Armonk, NY PURPOSE: PROGRAMS | $326,612 |
Bayside, NY PURPOSE: PROGRAMS | $106,458 |
New York, NY PURPOSE: PROGRAMS | $90,363 |
Southfield, MI PURPOSE: PROGRAMS | $80,058 |
Southfield, MI PURPOSE: PROGRAMS | $71,274 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Armenian Church Endowment Fund Inc has recieved totaling $111,000.
| Awarding Organization | Amount |
|---|---|
United Armenian Charities Inc New York, NY PURPOSE: ENDOWMENT | $50,000 |
United Armenian Charities Inc New York, NY PURPOSE: ENDOWMENT | $50,000 |
United Armenian Charities Inc New York, NY PURPOSE: ENDOWMENT | $10,000 |
Vartkess And Rita Balian Family Foundation Inc Arlington, VA PURPOSE: SUPPORT FOR SEC.501(C)(3) ORGANIZATION | $1,000 |
Endowment Analysis
| Beg. Balance | $80,891,548 |
| Earnings | $19,027,654 |
| Admin Expense | $200,919 |
| Net Contributions | $862,020 |
| Other Expense | $64,362 |
| Grants | $2,869,182 |
| Ending Balance | $97,646,759 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Manna On Main Street Lansdale, PA | $3,444,081 | $9,699,470 |
Interfaith Neighbors Inc Asbury Park, NJ | $14,340,015 | $7,072,413 |
Interfaith Works Of Central New York Inc Syracuse, NY | $4,431,684 | $4,338,770 |
Armenian Church Endowment Fund Inc New York, NY | $127,433,963 | $190,058 |
South Hills Interfaith Ministries Bethel Park, PA | $5,280,298 | $3,515,168 |
Interfaithfamily Com Inc Natick, MA | $1,146,201 | $2,291,739 |
One Spirit Learning Alliance Ltd New York, NY | $931,925 | $1,324,370 |
Interfaith Homes Of Longmeadow Inc Longmeadow, MA | $6,128,851 | $1,316,168 |
World Peace Association-Limited Oyster Bay, NY | $13,316 | $1,032,676 |
Israel Alliance Corp Lawrence, NY | $120,906 | $1,093,859 |
Morristown Unitarian Fellowship Morristown, NJ | $1,871,142 | $1,369,979 |
Pleasant Valley Ecumenical Network Saylorsburg, PA | $1,295,832 | $1,280,687 |