FUND FOR ARMENIAN RELIEF INC

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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

1993

Legal Domicile

Principal Officer

Bree perlman

Phone

2128895150

Tax Period

2024-01-01 to 2024-12-31

FUND FOR ARMENIAN RELIEF INC, founded in 1993, is a community nonprofit in the International Affairs sector that reported $9.0M in total revenue in fiscal year 2024. The organization ran a surplus of $2.3M, a strong 26% operating margin.

Mission

FAR IS DEDICATED TO HONORING THE PAST, EMPOWERING THE PRESENT ANDENSURING THE FUTURE FOR PEOPLE IN ARMENIA. FAR GIVES HOPE, GUIDANCE AND OPPORTUNITY TO THOSE IN NEED, EMPOWERING THEM TO CREATE A BETTERPRESENT AND HELPING THEM PAVE THE WAY TO A STRONGER FUTURE. FAR'S VISION IS TO DEVELOP AN EQUITABLE, SUSTAINABLE, AND RESILIENT ARMENIAN HOMELAND, WHERE PEOPLE ARE THRIVING: LEADING DIGNIFIED LIVES WITH UNIVERSAL ACCESS TO OPPORTUNITIES TO REALIZE THEIR FULL POTENTIAL THROUGH EDUCATION, HEALTHCARE AND DECENT WORK. THEY ARE PROUD MEMBERS OF A PROGRESSIVE NATION MAKING INDISPENSABLE CONTRIBUTIONS TO THE BETTERMENT OF THEIR LOCAL COMMUNITIES AND THE WORLD AT LARGE. FAR PROVIDES SHORT TERM EMERGENCY RELIEF AND IMPLEMENTS LONG-TERM PROGRAMS FOR THE ECONOMIC GROWTH AND SOCIAL DEVELOPMENT OF ARMENIA.IT HELPS THE MOST VULNERABLE SEGMENTS OF THE POPULATION - CHILDREN AND THE ELDERLY - AND PREPARES PROFESSIONALS TO LEAD THEIR NEWLY INDEPENDENT COUNTRY. HEADQUARTERED IN NEW YORK, FAR HAS THREE OFFIC

Program Service Accomplishments

Program 1

Expenses: $1,757,430

Economic development programs - See Schedule O for program description

Program 2

Expenses: $644,817

Educational programs - see Schedule O for program description.

Program 3

Expenses: $1,613,429

Childrens Programs - see Schedule O for program description

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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 $8,244,800

Program Service Revenue $510

Investment Income $774,483

Other Revenue $0

TOTAL REVENUE $9,019,793

Expense Breakdown

Grants Paid $2,267,429

Salaries & Benefits $1,494,593

Fundraising Expenses $330,106

Program Expenses $5,703,097

Other Expenses $2,736,290

TOTAL EXPENSES $6,681,172

Year-over-Year Comparison

	2024	2023	Change
Revenue	$9,019,793	$8,556,205	+0.1%
Expenses	$6,681,172	$5,884,833	+0.1%
Net Income	$2,338,621	$2,671,372	-0.1%

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

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

$483,195

Total Directors

$166,207

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
GARNIK NANAGOULIAN	EXECUTIVE DIR - thru 9/30/24	40.0	Officer Director	$166,207	$0	$166,207
Bree Perlman	Executive Dir - eff 10/1/24	40.0	Officer	$147,692	$0	$147,692
Bagrat Sargsyan	COUNTRY DIRECTOR	40.0	Officer	$91,957	$0	$91,957
Margarit Piliposyan	COUNTRY DIRECTOR	40.0	Officer	$77,339	$0	$77,339
Bishop Mesrop Parsamyan	President	1.0	Officer Director	$0	$0	$0
Randy Sapah-Gulian	Chairman	1.0	Officer Director	$0	$0	$0
Abp Khajag Barsamian	Vice Chairman	1.0	Officer Director	$0	$0	$0
Carl Bazarian	Vice Chairman	1.0	Officer Director	$0	$0	$0
Dennis Tarzian	Treasurer	1.0	Officer Director	$0	$0	$0
Marta Batmasian	Secretary	1.0	Officer Director	$0	$0	$0
Pontish Yeramyan	Assistant Secretary	1.0	Officer Director	$0	$0	$0
Armen Avanessians	BOARD MEMBER	1.0	Director	$0	$0	$0
Dr Richard Babain	Board member	1.0	Director	$0	$0	$0
Lynn D Barsamian	Board member	1.0	Director	$0	$0	$0
Bonnie A Barsamian Dunn	Board member	1.0	Director	$0	$0	$0
Zara Ingilizian	BOARD MEMBER	1.0	Director	$0	$0	$0
Rev Fr Yeprem Kelegian	Board member	1.0	Director	$0	$0	$0
Edward S Mardigian	Board member	1.0	Director	$0	$0	$0
Sandra Shaninian	Board member	1.0	Director	$0	$0	$0
Greg Toufayan	Board member	1.0	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
2024	$9,019,793	$6,681,172	$30,851,623	$2,338,621
2023	$8,556,205	$5,884,833	$27,945,385	$2,671,372
2022	$11,857,339	$6,112,784	$25,112,155	$5,744,555
2021	$5,051,910	$5,552,682	$20,899,343	$-500,772
2020	$6,456,613	$4,465,281	$20,409,893	$1,991,332
2019	$4,448,637	$4,948,179	$17,762,737	$-499,542
2018	$3,480,800	$4,665,109	$17,341,020	$-1,184,309