Creative Armenia
- Assets
- $357.0k
- Revenue
- $720.8k
- Investments
- $0.0
- Employees
- 1
- Location
- Los Angeles, CA
- Founding
- 10/2016
- Data as of
- 12/2021
- EIN
- 81-2439399
Organization Overview
Creative Armenia is located in Los Angeles, CA. The organization was established in 2016. According to its NTEE Classification (Q21) the organization is classified as: International Cultural Exchange, under the broad grouping of International, Foreign Affairs & National Security and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Creative Armenia 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, Creative Armenia generated $720.8k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 16.5% each year . All expenses for the organization totaled $694.0k during the year ending 12/2021. While expenses have increased by 21.1% per year over the past 5 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
SUPPORTS CREATIVE ARTISTS AND SERVES TO ENCOURAGE AND DEVELOP EMERGING TALENT IN FILM, MUSIC, AND ACROSS ALL ARTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FISCAL SPONSORSHIP: A PROGRAM BY WHICH FILMMAKERS, MUSICIANS, AND OTHER ARTISTS RAISE INTEREST AND FUNDS FOR THEIR CREATIVE PROJECTS, BY ASKING DONORS TO CONTRIBUTE VIA CREATIVE ARMENIA, WHICH RETAINS AN INDUSTRY-STANDARD FEE, THEN PASSES ON THE DONATION TO THE ARTIST HIM/HERSELF.
ARTIST PROMOTION: A PROGRAM OF SUPPORT FOR MORE THAN A HUNDRED ARTISTS WHO BELONG TO THE CREATIVE ARMENIA NETWORK. THE PROGRAM INCLUDES GRANTS CALLED SPARK GRANTS, AS WELL AS A VARIETY OF OTHER PROMOTIONAL AND CAREER GROWTH BENEFITS.
CA-AGBU FELLOWSHIPS: AN ANNUAL FELLOWSHIP THAT PROVIDES A PACKAGE OF FUNDING, MENTORSHIP, AND PROMOTION TO INNOVATIVE ARTISTS ACROSS ALL FIELDS.
OTHER PROGRAMS: A CREATIVE RESIDENCY FOR CUTTING-EDGE ARTISTS (EAST-WEST RESIDENCY), A CREATIVE INCUBATOR (ARTBOX) WHICH NURTURES BUSINESS-MINDED ART PROJECTS, AND A DIGITAL COMPETITION SERIES (CREATIVE CHALLENGES).
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Garin Hovannisian President | OfficerTrustee | 40 | $97,500 |
Mark Stefanos Vice President | OfficerTrustee | 1 | $0 |
Hakop Barseghian Cfo/secretary | OfficerTrustee | 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 | $720,785 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $720,785 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $720,785 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $419,410 |
| Grants and other assistance to Foreign Orgs/Individuals | $125,065 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $97,500 |
| Compensation of current officers, directors, key employees. | $24,375 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $7,745 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,987 |
| Office expenses | $1,154 |
| Information technology | $195 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,291 |
| 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 | $694,009 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $356,973 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $356,973 |
| Accounts payable and accrued expenses | $0 |
| 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 | $2,623 |
| Total liabilities | $2,623 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $354,350 |
| Total liabilities and net assets/fund balances | $356,973 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Creative Armenia has recieved totaling $110,051.
| Awarding Organization | Amount |
|---|---|
Armenian General Benevolent Union New York, NY PURPOSE: CULTURAL | $100,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: INTERNATIONAL, FOREIGN AFFAIRS | $10,000 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $51 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
India Community Center Inc Milpitas, CA | $9,157,974 | $4,442,272 |
Netfreedom Pioneers Marina Del Rey, CA | $110,658 | $2,497,553 |
Pacific American Foundation Kaneohe, HI | $2,150,270 | $2,183,484 |
Playing For Change Foundation Santa Monica, CA | $1,030,554 | $1,870,331 |
Boys & Girls Clubs Of Stanislaus County Inc Modesto, CA | $1,125,657 | $1,334,449 |
Apex Social San Clemente, CA | $1,135,098 | $1,016,198 |
Civic Leadership Usa San Mateo, CA | $148,622 | $1,659,165 |
Israel-America Academic Exchange Beverly Hills, CA | $2,379,863 | $1,081,373 |
Creative Armenia Los Angeles, CA | $356,973 | $720,785 |
Korean American Education Foundation Inc Los Angeles, CA | $3,242,762 | $526,257 |
Borderlinks Tucson, AZ | $604,759 | $422,200 |
Camp Lightbulb Incorporated Los Angeles, CA | $95,961 | $405,194 |