Western Diocese Endowment Fund Inc
- Assets
- $74.3m
- Revenue
- $10.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Fresno, CA
- Founding
- 04/2008
- Data as of
- 12/2021
- EIN
- 26-1971117
Organization Overview
Western Diocese Endowment Fund Inc is located in Fresno, CA. The organization was established in 2008. According to its NTEE Classification (X19) the organization is classified as: Support N.E.C., 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. Western Diocese 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 2017, Western Diocese Endowment Fund Inc has awarded 19 individual grants totaling $10,056,966. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THE WESTERN DIOCESE ENDOWMENT FUND, INC. IS TO SUPPORT THE ACTIVITIES OF THE WESTERN DIOCESE OF THE ARMENIAN CHURCH OF NORTH AMERICA BY PROVIDING ONGOING FINANCIAL SUPPORT TO VARIOUS CHURCHES AND RELIGIOUS ACTIVITIES OF THE WESTERN DIOCESE
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL SUPPORT TO VARIOUS CHURCHES AND RELIGIOUS ACTIVITIES OF THE WESTERN DIOCESE OF THE ARMENIAN CHURCH OF NORTH AMERICA
CONTRIBUTIONS AND GRANTS
INVESTMENT INCOME
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Yaldezian II Treasurer | OfficerTrustee | 0 | $0 |
Richard Mushegain Secretary | OfficerTrustee | 0 | $0 |
Archbishop Hovnan Derderian President | OfficerTrustee | 0 | $0 |
David Keligian Assistant Sec. | OfficerTrustee | 0 | $0 |
Zaven Akian Vice Chairman | OfficerTrustee | 0 | $0 |
Varoujan Altebarmakian MD Chairman | OfficerTrustee | 0 | $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 | $1,149,650 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,149,650 |
| Total Program Service Revenue | $0 |
| Investment income | $6,394,129 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $3,177,606 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $10,721,385 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,433,090 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $40,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $2,876,458 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,304,542 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $224,837 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $3,950,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $67,799,155 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $74,278,534 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $2,437,120 |
| 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 | $2,437,120 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $71,841,414 |
| 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 | $74,278,534 |
Grants Awarded
Over the last fiscal year, Western Diocese Endowment Fund Inc has awarded $2,418,800 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
WESTERN DIOCESE ARMENIAN CHURCH PURPOSE: Further religious purposes | $1,259,210 |
San Francisco, CA PURPOSE: Further religious purposes | $1,092,293 |
ST GREGORY A&M HOVSEPIAN SCH PURPOSE: Further religious/education purpose | $54,873 |
ST SAHAGMESROB CHURC PURPOSE: Further religious purposes | $12,424 |
Endowment Analysis
| Beg. Balance | $63,996,487 |
| Earnings | $9,571,735 |
| Admin Expense | $443,368 |
| Net Contributions | $1,149,650 |
| Grants | $2,433,090 |
| Ending Balance | $71,841,414 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Western Diocese Endowment Fund Inc Fresno, CA | $74,278,534 | $10,721,385 |
The Center For Jewish Campus Life Inc Stanford, CA | $8,051,289 | $1,861,555 |
One Planet One People Inc Walnut Creek, CA | $343,272 | $618,904 |
Minorities For Christ International Ripon, CA | $1,558,620 | $1,214,422 |
Cantinas Foundation Pasadena, CA | $21,079,081 | $76,120 |
Rasayana Berkeley, CA | $572,956 | $583,881 |
Every Man Ministries Inc Mission Viejo, CA | $382,223 | $762,980 |
Rugged Cross Ranch Ministries Yamhill, OR | $694,178 | $542,099 |
Love In The Name Of Christ Of Benton County Corvallis, OR | $279,470 | $302,668 |
Jacks Family Foundation Santa Barbara, CA | $1,724,615 | $313,173 |
Sisters Of The Blessed Korean Martyrs Bellflower, CA | $3,030,926 | $664,913 |
Accelerate Group Inc Peoria, AZ | $1,721,415 | $477,084 |