The Vahik And Alice@petrossian Foundation
- Assets
- $107.3k
- Revenue
- $247.1k
- Investments
- $101.7k
- Employees
- 0
- Location
- Glendale, CA
- Founding
- 01/2017
- Data as of
- 12/2022
- EIN
- 81-6591272
Organization Overview
The Vahik And Alice@petrossian Foundation is located in Glendale, CA. The organization was established in 2017. According to its NTEE Classification (T22) the organization is classified as: Private Independent Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vahik And Alice@petrossian Foundation 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 12/2022, Vahik And Alice@petrossian Foundation generated $247.1k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.7% each year. All expenses for the organization totaled $112.0k during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2017, Vahik And Alice@petrossian Foundation has awarded 102 individual grants totaling $477,928. 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.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vahak Petrossian President | 5 | $0 | |
Alice Petrossian Vice President | 5 | $0 | |
Chris Petrossian Trustee | 1 | $0 | |
Shant Petrossian Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $216,160 |
| Interest on Savings | $0 |
| Dividends & Interest | $8,815 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $22,165 |
| Capital Gain Net Income | $22,165 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $247,140 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $1,295 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $11,267 |
| Printing and publications | $0 |
| Other expenses | $119 |
| Total operating and administrative expenses | $14,131 |
| Contributions, gifts, grants paid | $97,853 |
| Total expenses and disbursements | $111,984 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,676 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $0 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $107,349 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, The Vahik And Alice@petrossian Foundation has awarded $97,853 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
TUFENKIAN PRESCHOOL PURPOSE: SOCIAL SERVICES | $1,250 |
ARMENIAN EDUCATION FOUNDATION PURPOSE: SOCIAL SERVICES | $1,850 |
ARMENIA MEDIA NETWORK PURPOSE: SOCIAL SERVICES | $2,450 |
AMERICAN ARMENIAN MEDICAL SOCIETY PURPOSE: SOCIAL SERVICES | $200 |
HOMENETMEN GLENDALE CHAPTER PURPOSE: SOCIAL SERVICES | $250 |
ARMENIAN WOUNDED HEROES FUND PURPOSE: SOCIAL SERVICES | $71,700 |