St Nersess Armenian Seminary Inc
- Assets
- $20.1m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 8
- Location
- Armonk, NY
- Founding
- 09/1976
- Data as of
- 05/2022
- EIN
- 51-0198454
Organization Overview
St Nersess Armenian Seminary Inc is located in Armonk, NY. The organization was established in 1976. According to its NTEE Classification (B50) the organization is classified as: Graduate & Professional Schools, under the broad grouping of Education and related organizations. As of 05/2022, St Nersess Armenian Seminary Inc employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. St Nersess Armenian Seminary 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 05/2022, St Nersess Armenian Seminary Inc generated $2.1m 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 (13.0%) each year. All expenses for the organization totaled $1.2m during the year ending 05/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION OF SEMINARIANS AND COURSES OF STUDY FOR VARIOUS OTHER GROUPS. PROVIDE ROOM AND BOARD FOR SEMINARIANS WHILE THEY PREPARE TO BECOME MEMBERS OF THE CLERGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RELIGIOUS EDUCATION OF SEMINARIANS AND COURSES OF STUDY FOR VARIOUS OTHER GROUPS. PROVIDE ROOM AND BOARD FOR SEMINARIANS WHILE THEY PREPARE TO BECOME MEMBERS OF THE CLERGY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rev FR Mardiros Chevian Dean, St. Nersess Armenian Seminary | Trustee | 40 | $66,800 |
Most Rev Archbishop Hovnan Derderia Primate, First Vice President, Western Diocese Of The Armenian Church | OfficerTrustee | 0.5 | $0 |
Maria Stepanian Assistant Secretary | OfficerTrustee | 0.5 | $0 |
Richard Papalian Treasurer | OfficerTrustee | 0.5 | $0 |
Very Reverend Father Mesrop Parsamy Prmate And President Diocese Of Armenian Church Of America (eastern) | OfficerTrustee | 0.5 | $0 |
Karen Dilimetin Assistant Treasurer | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $302,540 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,307,811 |
| Noncash contributions included in lines 1a–1f | $97,309 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,610,351 |
| Total Program Service Revenue | $18,386 |
| Investment income | $423,973 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | -$89,648 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,109,997 |
| 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. | $119,020 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $286,248 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $24,916 |
| Payroll taxes | $28,027 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,806 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $23,520 |
| Fees for services: Other | $0 |
| Advertising and promotion | $21,140 |
| Office expenses | $10,716 |
| Information technology | $5,995 |
| Royalties | $0 |
| Occupancy | $141,856 |
| Travel | $27,887 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,088 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $272,976 |
| Insurance | $33,932 |
| All other expenses | $235,442 |
| Total functional expenses | $1,243,569 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $141,773 |
| Savings and temporary cash investments | $1,310,573 |
| Pledges and grants receivable | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $8,703,771 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $9,973,268 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $20,129,385 |
| Accounts payable and accrued expenses | $10,711 |
| 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 | $263 |
| Total liabilities | $10,974 |
| Net assets without donor restrictions | $8,977,539 |
| Net assets with donor restrictions | $11,140,872 |
| 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 | $20,129,385 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that St Nersess Armenian Seminary Inc has recieved totaling $500.
| Awarding Organization | Amount |
|---|---|
Zari And Gregory Semerdjian Charitable Foundation Tacoma, WA PURPOSE: SUPPORT EDUCATION OF FUTURE ARMENIAN CHURCH LEADERS | $500 |
Endowment Analysis
| Beg. Balance | $10,629,884 |
| Earnings | -$357,586 |
| Admin Expense | $23,520 |
| Net Contributions | $140,096 |
| Other Expense | $424,003 |
| Ending Balance | $9,964,871 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Boston Architectural College Boston, MA | $43,735,977 | $21,122,754 |
Rabbi Isaac Elchanan Theological Seminary New York, NY | $154,914,739 | $24,312,479 |
Webb Institute Glen Cove, NY | $108,979,783 | $22,554,419 |
Clark Summit University Clarks Summit, PA | $12,253,431 | $11,847,715 |
Rosedale Technical College Pittsburgh, PA | $9,955,350 | $10,972,229 |
Sackler School Of Medicine New York, NY | $3,810,351 | $9,320,787 |
New York Academy Of Art New York, NY | $18,557,370 | $9,146,405 |
Auburn Theological Seminary New York, NY | $28,146,377 | $5,237,023 |
Hartford International University For Religion And Peace Hartford, CT | $70,630,501 | $3,322,795 |
Massachusetts School Of Law At Andover Andover, MA | $10,679,528 | $4,847,415 |
New York Theological Seminary New York, NY | $2,378,321 | $4,439,036 |
Yeshiva Derech Chaim Brooklyn, NY | $2,751,947 | $4,396,697 |