Tekeyan Cultural Association Inc
- Assets
- $21.5m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 3
- Location
- Watertown, MA
- Founding
- 02/1970
- Data as of
- 12/2021
- EIN
- 23-7055686
Organization Overview
Tekeyan Cultural Association Inc is located in Watertown, MA. The organization was established in 1970. According to its NTEE Classification (A23) the organization is classified as: Cultural & Ethnic Awareness, under the broad grouping of Arts, Culture & Humanities and related organizations. As of 12/2021, Tekeyan Cultural Association Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tekeyan Cultural Association 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 12/2021, Tekeyan Cultural Association Inc generated $1.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (19.6%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2021. 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
SUPPORT SCHOOLS, PUBLICATIONS, CULTURAL GROUPS AND YOUTH GROUPS FOR ARMENIANS IN THE UNITED STATES AND ABROAD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
NEWSPAPER AND OTHER PUBLICATIONS
CULTURAL EVENTS
MISCELLANEOUS OTHER INCOME RELATED TO THE ASSOCIATION'S EXEMPT FUNCTION
GRANTS TO RELIGIOUS ORGANIZATIONS, TO OTHER ARMENIAN NONPROFIT ORGANIZATIONS, GRANTS FOR HUMANITARIAN RELIEF, AND GRANTS TO OTHER MISCELLANEOUS CHARITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hagop Vartivarian Secretary | OfficerTrustee | 40 | $65,000 |
Edmond Azadian President | OfficerTrustee | 1 | $0 |
Vatche Semerdjian Assistant Secretary | OfficerTrustee | 1 | $0 |
Maro Bedrosian Treasurer | OfficerTrustee | 1 | $0 |
Kevork Marachelian Assistant Treasurer | OfficerTrustee | 1 | $0 |
Dr Arshavir Gundjian Vice President | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $4,135 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $76,394 |
| All other contributions, gifts, grants, and similar amounts not included above | $274,803 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $355,332 |
| Total Program Service Revenue | $114,066 |
| Investment income | $358,125 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $60,692 |
| Net Gain/Loss on Asset Sales | $1,033,542 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,921,757 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $245,477 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $458,999 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $65,000 |
| Compensation of current officers, directors, key employees. | $58,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $221,526 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $18,463 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $4,791 |
| Fees for services: Accounting | $21,098 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $78,409 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $11,188 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $58,454 |
| Travel | $19,091 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,380 |
| Insurance | $24,087 |
| All other expenses | $29,333 |
| Total functional expenses | $1,416,681 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $266,238 |
| Savings and temporary cash investments | $1,779,645 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $113,040 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $60,913 |
| Prepaid expenses and deferred charges | $8,405 |
| Net Land, buildings, and equipment | $3,092,765 |
| Investments—publicly traded securities | $16,197,730 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $21,518,736 |
| Accounts payable and accrued expenses | $170,776 |
| Grants payable | $0 |
| Deferred revenue | $323,417 |
| 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 | $494,193 |
| Net assets without donor restrictions | $18,083,556 |
| Net assets with donor restrictions | $2,940,987 |
| 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 | $21,518,736 |
Grants Awarded
Over the last fiscal year, Tekeyan Cultural Association Inc has awarded $206,915 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Watertown, MA PURPOSE: SUPPORT PUBLICATION OF ARMENIAN MIRROR-SPECTATOR NEWSPAPER | $206,915 |
Grants Recieved
Over the last fiscal year, we have identified 7 grants that Tekeyan Cultural Association Inc has recieved totaling $38,100.
| Awarding Organization | Amount |
|---|---|
Hovsep Foundation Union, NJ PURPOSE: SOCIAL SERVICE | $15,100 |
Hovsep Foundation Union, NJ PURPOSE: SOCIAL SERVICE | $15,000 |
Haiganoosh Mengushian Ajemian Robert Ajemian Gloria Etc Bloomfield Hills, MI PURPOSE: GENERAL | $5,000 |
Parsekian Foundation Inc South Boston, MA PURPOSE: GENERAL OPERATIONS | $1,000 |
John Mirak Foundation Arlington, MA PURPOSE: GENERAL PURPOSE | $1,000 |
Vartkess And Rita Balian Family Foundation Inc Arlington, VA PURPOSE: SUPPORT FOR SEC.501(C)(3) ORGANIZATION | $500 |
Endowment Analysis
| Beg. Balance | $2,264,337 |
| Earnings | $517,416 |
| Grants | $144,866 |
| Ending Balance | $2,636,887 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Japan Society Inc New York, NY | $91,776,832 | $10,515,982 |
French Institute-Alliance Francaise New York, NY | $24,965,114 | $8,095,199 |
Center For Jewish History Inc New York, NY | $52,466,984 | $9,804,079 |
National Yiddish Book Center Inc Amherst, MA | $63,979,400 | $12,290,218 |
Hispanic Society Of America New York, NY | $100,790,486 | $5,124,176 |
Columbus Citizens Foundation Inc New York, NY | $32,932,983 | $6,043,809 |
Swiss Institute New York, NY | $5,483,468 | $4,486,430 |
The Workmens Circle Arbeter Ring Incorporated New York, NY | $40,155,204 | $3,248,855 |
An Claidheamh Soluis Inc New York, NY | $72,072,476 | $13,153,865 |
Circle Lodge-Camp Kinder Ring Of The Workmens Circle Incorporated Hopewell Junction, NY | $6,012,413 | $4,542,835 |
Tibet House Inc New York, NY | $7,378,902 | $3,678,339 |
Spanish Speaking Elderly Council - Raices Inc Brooklyn, NY | $947,855 | $3,320,048 |