Armenian Library And Museum Of America Inc
- Assets
- $16.4m
- Revenue
- $1.7m
- Investments
- $1.2m
- Employees
- 10
- Location
- Watertown, MA
- Founding
- 03/1987
- Data as of
- 06/2021
- EIN
- 22-2778232
Organization Overview
Armenian Library And Museum Of America Inc is located in Watertown, MA. The organization was established in 1987. According to its NTEE Classification (A50) the organization is classified as: Museums, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 06/2021, Armenian Library And Museum Of America Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Armenian Library And Museum Of America 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 06/2021, Armenian Library And Museum Of America Inc generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $1.2m during the year ending 06/2021. While expenses have increased by 9.8% per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO COLLECT, PRESERVE, AND DISPLAY OBJECTS AND WRITTEN WORKS OF ARMENIAN CULTURAL SIGNIFICANCE, PAST AND PRESENT, TO ARCHIVE AND SHARE WITH THE PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE PRIMARY PURPOSE OF THE ARMENIAN MUSEUM'S EDUCATION AND EVENT PROGRAMS IS TO CARRY OUT THE MUSEUM'S MISSION, THROUGH DIVERSE EDUCATIONAL PROGRAMS AND ACTIVITIES. THESE PROGRAMS CULTIVATE INTELLECTUAL CURIOSITY ABOUT ARMENIAN HERITAGE AND ENGAGE STUDENTS AND LIFE-LONG LEARNERS IN COMPREHENSIVE LEARNING. BY PROVIDING AGE-APPROPRIATE, DIFFERENTIATED INSTRUCTION TO ADDRESS THE VARIED LEARNING STYLES OF VISIORS, WE PROMOTE AND DEVELOP STUDENTS' SELF-CONFIDENCE AND SENSE OF PERSONAL AGENCY. EVENTS THAT EXPLORE RICH MUSICAL, LITERARY, AND ARTISTIC TRADITIONS AS WELL AS CONTEMPORARY PRACTICES WILL CONTINUE TO GROW AND EXPAND TO REACH NEW AUDIENCES. -TO CARRY OUT THE MISSION OF THE ARMENIAN MUSEUM OF AMERICA, THROUGH DIVERSE EDUCATIONAL PROGRAMS AND ACTIVITIES. -CULTIVATE INTELLECTUAL CURIOSITY ABOUT ARMENIAN HISTORY & CULTURE AND ENGAGE STUDENTS IN COMPREHENSIVE LEARNING. -PROVIDE AGE-APPROPRIATE, DIFFERENTIATED INSTRUCTION TO ADDRESS THE VARIED LEARNING STYLES OF STUDENTS AND VISITORS. -SELF-REFLECT AND EVALUATE EFFECTIVENESS OF PROGRAMS AND ALWAYS STRIVE TO IMPROVE AND CREATE THE BEST POSSIBLE LEARNING EXPERIENCE FOR ARMENIANS AND NON-ARMENIANS ALIKE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Berj Chekijian Director Of Finance | Officer | 28 | $47,840 |
Jason A Sohigian Executive Director | Officer | 40 | $25,300 |
Michele M Kolligian President | OfficerTrustee | 5 | $0 |
Stuart Green Assistant Secretary | OfficerTrustee | 2 | $0 |
Arakel Almassian Vice President | OfficerTrustee | 1 | $0 |
James A Erdekian Vice President; Treasurer | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $67,505 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $166,962 |
| All other contributions, gifts, grants, and similar amounts not included above | $352,836 |
| Noncash contributions included in lines 1a–1f | $13,899 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $587,303 |
| Total Program Service Revenue | $8 |
| Investment income | $191,504 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $159,294 |
| Net Gain/Loss on Asset Sales | $715,937 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,300 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,695,346 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $137,940 |
| Compensation of current officers, directors, key employees. | $34,485 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $303,880 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31,285 |
| Payroll taxes | $32,874 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $61,681 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $91,976 |
| Fees for services: Other | $31,125 |
| Advertising and promotion | $15,958 |
| Office expenses | $34,212 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $142,063 |
| Travel | $8,184 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,994 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $181,150 |
| Insurance | $23,344 |
| All other expenses | $0 |
| Total functional expenses | $1,160,924 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $89,088 |
| Savings and temporary cash investments | $79,020 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $600 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,066 |
| Prepaid expenses and deferred charges | $6,335 |
| Net Land, buildings, and equipment | $2,054,949 |
| Investments—publicly traded securities | $6,227,434 |
| Investments—other securities | $1,217,688 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,752,221 |
| Total assets | $16,428,401 |
| Accounts payable and accrued expenses | $84,447 |
| 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 | $84,447 |
| Net assets without donor restrictions | $9,590,211 |
| Net assets with donor restrictions | $6,753,743 |
| 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 | $16,428,401 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Armenian Library And Museum Of America Inc has recieved totaling $68,906.
| Awarding Organization | Amount |
|---|---|
United Armenian Charities Inc New York, NY PURPOSE: PRESERVE AND PRESENT CULTURE HISTORY AND ART OF THE ARMENIAN PEOPLE | $35,000 |
Oneworld Boston Inc Woburn, MA PURPOSE: EDUCATIONAL AWARENESS | $25,000 |
Watertown Community Foundation Inc Watertown, MA PURPOSE: SUPPORT GENERAL OPERATIONS AND A FULL-TIME STAFF OF SIX TO RE-OPEN TO THE PUBLIC IN SUMMER 2021,AND CURRENTLY OFFER A SERIES OF FOUR DIFFERENT VIRTUAL PROGRAMS. | $7,500 |
Bedrosian Foundation Philadelphia, PA PURPOSE: IN SUPPORT OF OPERATIONS | $1,000 |
Vartkess And Rita Balian Family Foundation Inc Arlington, VA PURPOSE: PERFORMINGS ARTS PROGRAM SUPPORT | $250 |
Joseph And Rae Gann Charitable Foundation Bal Harbour, FL PURPOSE: GENERAL | $100 |
Endowment Analysis
| Beg. Balance | $3,133,978 |
| Earnings | $1,031,814 |
| Other Expense | $397,185 |
| Ending Balance | $3,768,607 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mystic Seaport Museum Inc Mystic, CT | $122,267,932 | $26,794,983 |
The Paley Center For Media New York, NY | $149,800,581 | $16,736,827 |
Stone Barns Restoration Corp Pocantico Hills, NY | $107,933,883 | $7,964,721 |
Margaret Woodbury Strong Museum Rochester, NY | $223,670,725 | $24,556,351 |
The Studio Museum In Harlem New York, NY | $153,708,532 | $40,471,884 |
The Maritime Aquarium At Norwalk Inc South Norwalk, CT | $19,089,489 | $11,308,442 |
George Eastman Museum Rochester, NY | $59,825,841 | $12,306,953 |
Naismith Memorial Basketball Hall Of Fame Inc 1150 West Columbus Ave Springfield, MA | $33,159,743 | $5,379,532 |
National Museum Of Mathematics New York, NY | $42,218,242 | $9,885,068 |
Shelburne Museum Incorporated Shelburne, VT | $56,455,494 | $11,449,784 |
Bruce Museum Inc Greenwich, CT | $42,027,905 | $8,121,476 |
Brant Foundation Inc Greenwich, CT | $0 | $5,637,610 |