Armenian Church Endowment Fund Inc
- Assets
- $135.7m
- Revenue
- -$5.3m
- Investments
- $70.1m
- Employees
- 0
- Location
- New York, NY
- Founding
- 08/2005
- Data as of
- 12/2022
- 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.
Since 2014, Armenian Church Endowment Fund Inc has awarded 202 individual grants totaling $17,886,695. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
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:
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 |
|---|---|---|---|
Very Rev FR Mesrop Parsamyan President | OfficerTrustee | 1 | $0 |
Robert E Cannuscio Secretary | OfficerTrustee | 1 | $0 |
Melanie Dadourian Director | Trustee | 1 | $0 |
Eric Baroyan Director | Trustee | 1 | $0 |
Gregory Zorthian Chair | OfficerTrustee | 1 | $0 |
Nancy Berberian Director | Trustee | 1 | $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 | $460,175 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $460,175 |
| Total Program Service Revenue | $259,328 |
| Investment income | $750,186 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$6,749,253 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$5,279,564 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,624,117 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $455,233 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $98,919 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $13,071 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,170 |
| Fees for services: Accounting | $120,918 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $282,513 |
| Fees for services: Other | $0 |
| Advertising and promotion | $14,781 |
| Office expenses | $6,858 |
| Information technology | $7,293 |
| 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 | $697 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $47,327 |
| All other expenses | $25,602 |
| Total functional expenses | $3,734,499 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,317,961 |
| Savings and temporary cash investments | $5,381,712 |
| Pledges and grants receivable | $60,125 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $2,030 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $58,778,147 |
| Investments—other securities | $70,142,728 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $135,682,703 |
| Accounts payable and accrued expenses | $12,781 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $53,973,811 |
| 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 | $35,757 |
| Total liabilities | $54,022,349 |
| Net assets without donor restrictions | $1,489,678 |
| Net assets with donor restrictions | $80,170,676 |
| 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 | $135,682,703 |
Grants Awarded
Over the last fiscal year, Armenian Church Endowment Fund Inc has awarded $2,559,690 in support to 28 organizations.
| Grant Recipient | Amount |
|---|---|
DIOCESE OF THE ARMENIAN CHURCH PURPOSE: Program | $1,291,565 |
ST NERSESS ARMENIAN SEMINARY PURPOSE: Program | $359,028 |
FUND FOR ARMENIAN RELIEF PURPOSE: Program | $97,403 |
ST LEON ARMENIAN CHURCH PURPOSE: Program | $52,448 |
ST JAMES ARMENIAN CHURCH PURPOSE: Program | $30,948 |
HOLY MARTYRS ARMENIAN DAY SCHOOL PURPOSE: Program | $114,302 |