THE ARMENIAN EYECARE PROJECT

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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

2002

Legal Domicile

Principal Officer

ROGER OHANESIAN MD

Phone

9499334069

Tax Period

2024-01-01 to 2024-12-31

THE ARMENIAN EYECARE PROJECT, founded in 2002, is a community nonprofit in the Diseases & Disorders sector that reported $4.5M in total revenue in fiscal year 2024. Revenue surged 138% from the prior year, signaling strong growth momentum. The organization ran a surplus of $1.7M, a strong 37% operating margin.

Mission

TO ELIMINATE PREVENTABLE BLINDNESS FOR ARMENIAN CHILDREN AND ADULTS BY PROVIDING MEDICAL CARE AND SURGERY, SCREENING AND EDUCATION, AS WELL AS CONDUCTING EYECARE RESEARCH.

Program Service Accomplishments

Program 1

Expenses: $2,351,501 Revenue: $0

DIRECT MEDICAL CARE AND SURGERY, AS WELL AS MOBILE HOSPITAL TO CONDUCT RESEARCH, SCREEN PATIENTS, AND PROVIDE EDUCATION IN AN EFFORT TO ELIMINATE PREVENTABLE BLINDNESS IN ARMENIA AND TO MAKE 21ST...

DIRECT MEDICAL CARE AND SURGERY, AS WELL AS MOBILE HOSPITAL TO CONDUCT RESEARCH, SCREEN PATIENTS, AND PROVIDE EDUCATION IN AN EFFORT TO ELIMINATE PREVENTABLE BLINDNESS IN ARMENIA AND TO MAKE 21ST CENTURY EYE CARE AVAILABLE TO EVERY ARMENIAN CHILD AND ADULT.

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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 $4,596,323

Program Service Revenue $0

Investment Income $41,507

Other Revenue $-102,416

TOTAL REVENUE $4,535,414

Expense Breakdown

Grants Paid $0

Salaries & Benefits $690,731

Fundraising Expenses $115,322

Program Expenses $2,351,501

Other Expenses $2,149,945

TOTAL EXPENSES $2,840,676

Year-over-Year Comparison

	2024	2023	Change
Revenue	$4,535,414	$1,905,387	+1.4%
Expenses	$2,840,676	$2,282,436	+0.2%
Net Income	$1,694,738	$-377,049	-5.5%

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MICHAEL AGHAJANIAN	BOARD MEMBER	2	Director	$0	$0	$0
DAVID KELIGIAN JD CPA	CFO/TREASURER	2	Officer Director	$0	$0	$0
LISA KALUSTIAN	BOARD MEMBER	2	Director	$0	$0	$0
MEREDITH KHACHIGIAN	BOARD MEMBER	2	Director	$0	$0	$0
RICHARD A HILL MD	BOARD MEMBER	2	Director	$0	$0	$0
ROGER OHANESIAN MD	PRESIDENT/BD	10	Officer Director	$0	$0	$0
BARUCH D KUPPERMANN PHD MD	BOARD MEMBER	2	Director	$0	$0	$0
JOHN A HOVANESIAN MD	VICE PRESIDENT/BD	2	Officer Director	$0	$0	$0
KHODAM ROSTOMIAN MD	BOARD MEMBER	2	Director	$0	$0	$0
TOM LEE MD	BOARD MEMBER	2	Director	$0	$0	$0
MICHAEL SAHAKIAN	BOARD MEMBER	2	Director	$0	$0	$0
GLORIA SEFTON	BOARD MEMBER	2	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	$4,535,414	$2,840,676	$5,086,287	$1,694,738
2023	$1,905,387	$2,282,436	$3,180,227	$-377,049
2022	$1,726,364	$2,693,389	$3,551,133	$-967,025
2021	$2,577,746	$1,931,656	$4,533,308	$646,090
2020	$2,533,687	$1,185,886	$3,878,218	$1,347,801
2019	$1,205,499	$1,735,057	$2,534,485	$-529,558
2018	$2,022,098	$2,280,315	$3,107,313	$-258,217