ARMENIAN HISTORICAL ASSOCIATION OF… - Form 990 Financial Data

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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

1998

Legal Domicile

Principal Officer

DR MARTIN PAPAZIAN

Phone

4014545111

Tax Period

2024-04-01 to 2025-03-31

ARMENIAN HISTORICAL ASSOCIATION OF RI, founded in 1998, is a micro nonprofit in the Arts, Culture & Humanities sector that reported $70K in total revenue in fiscal year 2024. Revenue surged 56% from the prior year, signaling strong growth momentum. The organization ran a surplus of $23K, a strong 33% operating margin.

Mission

THE MISSION OF THE ARMENIAN HISTORICAL ASSOCIATION OF RHODE ISLAND IS TO PROMOTE ARMENIAN CULTURE, HERITAGE AND HISTORY IN THE STATE OF RHODE ISLAND WHILE PRESERVING ITS ETHNIC HERITAGE THROUGH PUBLIC EXHIBITIONS, DISPLAYS, ARTIFACTS AND MEDIA.

Program Service Accomplishments

Program 1

Expenses: $46,781

(1) THE ARMENIAN HISTORICAL ASSOCIATION OF RHODE ISLAND(AHARI) SHOWCASES AND MAKES AVAILABLE IT'S EXHIBITION GALLERY AND MUSEUM TO THE GENERAL PUBLIC. ALSO, AHARI HAS A ROBUST WEBSITE PLUS IT HAS A YOUTUBE PAGE AVAILABLE FOR GENERAL PUBLIC VIEWING.NOTE - THE PROGRAM EXPENSES NOTED IN STATEMENT ONE OF $46,781 IS IN TOTAL FOR ALL PROGRAMS.

Program 2

(2) WITH THE EXHIBITION GALLERY AND MUSUEM, THE MISSION IS ACCOMPLISHED BY PROMOTION OF ARMENIAN CULTURE, HERITAGE AND HISTORY IN THE STATE OF RHODE ISLAND WHILE PRESERVING ITS ETHNIC HERITAGE...

(2) WITH THE EXHIBITION GALLERY AND MUSUEM, THE MISSION IS ACCOMPLISHED BY PROMOTION OF ARMENIAN CULTURE, HERITAGE AND HISTORY IN THE STATE OF RHODE ISLAND WHILE PRESERVING ITS ETHNIC HERITAGE THROUGH PUBLIC EXHIBITIONS, DISPLAYS, ARTIFACTS AND MEDIA. IN ADDITION, AHARI HELD SUCCESSFUL IN-PERSON AND ZOOM PROGRAMS/PRESENTATIONS THROUGHOUT THE YEAR. ALSO, AHARI OFFERS IN-PERSON ORAL HISTORY ACCOUNTS OF SECOND AND THIRD GENERATION ARMENIANS WHOSE ANCESTORS SURVIVED THE ARMENIAN GENOCIDE WITH THE GOAL OF DOCUMENTING INTEREVIEWS IN A DIGITALIZED FORMAT. HISTORICAL PHOTOS, LETTERS AND OTHER DOCUMENTS ARE WELCOMED TOO.

Program 3

(3) AHARI NOW ACCEPTS MEMBERSHIP DUES/DONATIONS AS A FORM OF GENERATING INCOME AND INTEREST IN THE EXHIBITION GALLERY AND MUSEUM.

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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 $39,067

Program Service Revenue $0

Investment Income $30,883

Other Revenue $0

TOTAL REVENUE $69,950

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $46,781

Other Expenses $46,781

TOTAL EXPENSES $46,781

Year-over-Year Comparison

	2024	2023	Change
Revenue	$69,950	$44,741	+0.6%
Expenses	$46,781	$50,458	-0.1%
Net Income	$23,169	$-5,717	-5.1%

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

N/A

Volunteers

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Role	Reportable Comp	Other Comp	Total
DR MARTIN PAPAZIAN	TREASURER	Officer Director	$0	$0	$0
MARTHA JAMGOCHIAN	CHAIR	Officer Director	$0	$0	$0
CAMILLE GREGORIAN	VICE CHAIR	Officer Director	$0	$0	$0
SUSAN CHAKMAKIAN	CORRESPONDING SECRETARY	Officer Director	$0	$0	$0
NAOMI MARSH	BOARD MEMBER	Director	$0	$0	$0
MANOOG KAPRIELIAN DECEASED 8102025	BOARD MEMBER	Director	$0	$0	$0
AZARIG KOOLOIAN JR	BOARD MEMBER	Director	$0	$0	$0
MARGARET CHEVIAN	BOARD MEMBER	Director	$0	$0	$0
JANET EVANS HOUSER	BOARD MEMBER	Director	$0	$0	$0
JOHN HARPOOTIAN ESQ	BOARD MEMBER	Director	$0	$0	$0
VAROUJAN KARENTZ	BOARD MEMBER	Director	$0	$0	$0
JENNIFER KEZIRIAN WEST	RECORDING SECRETARY	Officer Director	$0	$0	$0
TOM ZORABEDIAN	BOARD MEMBER	Director	$0	$0	$0
ANNA-MARIE MARTIROSIAN	BOARD MEMBER	Director	$0	$0	$0

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
2025	$69,950	$46,781	$1,165,301	$23,169
2024	$44,741	$50,458	$1,137,196	$-5,717
2023	$49,777	$35,703	$1,010,921	$14,074
2022	$14,774	$32,266	$1,096,458	$-17,492
2021	$31,809	$21,219	$1,074,592	$10,590
2020	$21,704	$23,691	$761,185	$-1,987
2019	$29,969	$47,901	$861,383	$-17,932
2018	$32,301	$39,784	$863,254	$-7,483

ARMENIAN HISTORICAL ASSOCIATION OF RI