Armenian Cultural Association Of New York Inc
- Assets
- $8.4m
- Revenue
- $354.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Bayside, NY
- Founding
- 11/2019
- Data as of
- 12/2022
- EIN
- 83-4123496
Organization Overview
Armenian Cultural Association Of New York Inc is located in Bayside, NY. The organization was established in 2019. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Armenian Cultural Association Of New York Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OPERATED EXCLUSIVELY FOR THE PRESERVATION OF THE ARMENIAN CULTURAL AND HISTORICAL HERITAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ARMENIAN CULTURAL ASSOCIATION OF AMERICA, INC. ("ACCA"), IS A NOT-FOR-PROFIT CORPORATION FORMED UNDER THE LAWS OF THE STATE OF MASSACHUSETTS AND ORGANIZED FOR THE CHARITABLE PURPOSES OF PRESERVING AND CONTINUING ARMENIAN CULTURE AND HISTORICAL HERITAGE WITH A NATIONAL FOCUS. ACAA IS EXEMPT FROM FEDERAL TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986 (THE "CODE"). ACAA CAUSED THE FORMATION OF ARMENIAN CULTURAL ASSOCIATION OF NEW YORK, INC. ("ACANY"), A NEW YORK NOT-FOR-PROFIT CORPORATION, IN MARCH 2019, WITH A SIMILAR CHARITABLE PURPOSE AS ACAA BUT WITH A FOCUS IN NEW YORK. ACANY IS ALSO EXEMPT FROM FEDERAL TAX UNDER SECTION 501(C)(3) OF THE CODE. CONTEMPORANEOUS WITH SUCH FORMATION, ACAA PLEDGED TO FUND ACANY WITH THE PROCEEDS REALIZED FROM THE SALE OF PROPERTY LOCATED AT 69-23 47TH AVENUE, WOODSIDE, NEW YORK 11377 (THE "PROPERTY"). THE PROPERTY WAS SOLD ON MARCH 29, 2019, WHEREBY, ACAA RECEIVED, AFTER THE PAYMENT OF ALL COSTS, NET SALE PROCEEDS IN THE AMOUNT OF $7,744,409.61. ACAA THEN, CONSISTENT WITH ITS PLEDGE, TRANSFERRED THAT $7,744,409.61 FROM THE SALE OF THE PROPERTY TO ACANY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Valot Atakhanian Chair | OfficerTrustee | 1 | $0 |
John Mkrtschjan Vice Chair | OfficerTrustee | 1 | $0 |
Razmig Haroun Treasurer | OfficerTrustee | 1 | $0 |
Armen Caprielian Secretary | OfficerTrustee | 1 | $0 |
Robert Setrakian Director | Trustee | 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 | $7,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,500 |
| Total Program Service Revenue | $0 |
| Investment income | $66,485 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $275,084 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $354,899 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $73,000 |
| 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 | $1,750 |
| Fees for services: Accounting | $3,500 |
| 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 | $85 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $3,733 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,290 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $170 |
| Total functional expenses | $89,528 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,686,364 |
| 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 | $4,690,858 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $8,377,222 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $8,377,222 |
| Total liabilities and net assets/fund balances | $8,377,222 |
Grants Awarded
Over the last fiscal year, Armenian Cultural Association Of New York Inc has awarded $29,510 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ARMENIAN CULTURAL ASSOCIATION OF AMERICA PURPOSE: ONGOING PROGRAMS AND ARTKASH FUND | $24,510 |
ANCA ENDOWMENT FUND PURPOSE: OUTREACH TO ARMENIAN AMERICAN COMMUNITIES | $5,000 |