National Association for Armenian Studies and Research Inc (EIN 042215574) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1955

Legal Domicile

Principal Officer

Ara N Araz

Phone

6174891610

Tax Period

2024-01-01 to 2024-12-31

National Association for Armenian Studies and Research Inc, founded in 1955, is a small nonprofit that reported $809K in total revenue in fiscal year 2024. Revenue fell 32% from the prior year — a significant decline worth monitoring. Expenses of $990K exceeded revenue, resulting in a 22% operating deficit.

Mission

The general purposes of the Association are: (1) To foster and promote Armenian Studies through scholarship, research, and publication; (2) To work for the establishment of endowed professorships, fellowships, scholarships, departments, and courses of instruction in Armenian Studies at colleges, universities, and other institutions of higher learning; (3) To solicit and administer funds and to cooperate with universities, foundations, and similar organizations for the advancement of Armenian studies and research; and (4) To sponsor and promote educational, cultural, and other activities and projects for the realization of the purposes and objectives of the Association.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $548,197

Program Service Revenue $4,393

Investment Income $240,361

Other Revenue $15,621

TOTAL REVENUE $808,572

Expense Breakdown

Grants Paid $101,669

Salaries & Benefits $421,913

Fundraising Expenses $74,138

Program Expenses $703,049

Other Expenses $466,633

TOTAL EXPENSES $990,215

Year-over-Year Comparison

	2024	2023	Change
Revenue	$808,572	$1,182,415	-0.3%
Expenses	$990,215	$947,629	+0.0%
Net Income	$-181,643	$234,786	-1.8%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✓ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$99,029

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Ara N Araz	Chairperson	10.00	Officer Director	$0	$0	$0
Dr Henry C Theriault	Vice Chairperson eff. 11/24	10.00	Officer Director	$0	$0	$0
Margaret Mgrublian	Vice Chairperson until 11/24	5.00	Officer Director	$0	$0	$0
Brian Ansbigian	Treasurer eff. 11/24	10.00	Officer Director	$0	$0	$0
Bruce W Roat	Treasurer until 11/24	5.00	Officer Director	$0	$0	$0
Jirair Balayan	Secretary eff. 6/24	2.00	Officer Director	$0	$0	$0
Arlene Saryan Alexander	Secretary until 6/24	5.00	Officer Director	$0	$0	$0
Nancy R Kolligian	Advisor	5.00	Officer Director	$0	$0	$0
Mark Momjian	Advisor	5.00	Officer Director	$0	$0	$0
Dr Nick Akgulian	Director	2.00	Director	$0	$0	$0
Ara Arakelian	Director eff. 11/24	2.00	Director	$0	$0	$0
Mihran Aroian	Director	2.00	Director	$0	$0	$0
Dr Susan E Barba	Director	2.00	Director	$0	$0	$0
Roupen Berberian	Director until 11/24	2.00	Director	$0	$0	$0
Michael Bobelian	Director	2.00	Director	$0	$0	$0
Houry Boyamian	Director eff. 11/24	2.00	Director	$0	$0	$0
Dr Sharon Chekijian	Director	2.00	Director	$0	$0	$0
Ani Hovannisian	Director	2.00	Director	$0	$0	$0
Dr Susan Jerian	Director eff. 11/24	2.00	Director	$0	$0	$0
Dr Gregory Ketabgian	Director	2.00	Director	$0	$0	$0
Joan E Kolligian	Director	2.00	Director	$0	$0	$0
Nancy Kricorian	Director	2.00	Director	$0	$0	$0
Stephen A Kurkjian	Director	2.00	Director	$0	$0	$0
Dr Armineh Mirzabegian	Director	2.00	Director	$0	$0	$0
Dr Khatchig Mouradian	Director	2.00	Director	$0	$0	$0
Dr Anna Ohanyan	Director until 11/24	2.00	Director	$0	$0	$0
Gerald Papazian	Director	2.00	Director	$0	$0	$0
Dr Mary Papazian	Director	2.00	Director	$0	$0	$0
Judith Saryan	Director	2.00	Director	$0	$0	$0
Shushan M Teager	Director until 11/24	2.00	Director	$0	$0	$0
Silva Sedrakian	Executive Director	40.00	Officer	$99,029	$0	$99,029

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$808,572	$990,215	$11,320,406	$-181,643
2023	$1,182,415	$947,629	$11,302,675	$234,786
2022	$1,239,127	$873,381	$10,721,419	$365,746
2021	$1,559,938	$767,881	$10,865,003	$792,057
2020	$446,895	$669,139	$10,313,854	$-222,244
2019	$850,307	$476,330	$10,080,995	$373,977
2018	$1,861,625	$665,230	$6,634,137	$1,196,395

National Association for Armenian Studies and Research Inc