FRIENDS OF TEACH FOR ARMENIA INCORPORATED

EIN: 472833171 501(c)(3) Education

LOS ANGELES, CA

Total Revenue
$1,422,807
Total Expenses
$1,206,330
Total Assets
$1,262,464
Net Assets
$1,255,401
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2013
Legal Domicile
CA
Principal Officer
LARISA HOVANNISIAN
Phone
3109889824
Tax Period
2024-01-01 to 2024-12-31

FRIENDS OF TEACH FOR ARMENIA INCORPORATED, founded in 2013, is a community nonprofit in the Education sector that reported $1.4M in total revenue in fiscal year 2024. Revenue surged 48% from the prior year, signaling strong growth momentum. The organization ran a surplus of $216K, a strong 15% operating margin.

Mission

TO ELIMINATE EDUCATIONAL INEQUITY, ESPECIALLY IN ARMENIA, BY WORKING WITH THE TEACH FOR ALL NETWORK TO RAISE FUNDS TO IMPROVE EDUCATIONAL OUTCOMES WITH POVERTY STRICKEN CHILDREN, RECRUITING AND TRAINING RECENT COLLEGE GRADUATES, AND LAUNCHING FUNDRAISING CAMPAIGNS TO FINANCE ALL OBJECTIVES ABOVE.

Program Service Accomplishments

Program 1
Expenses: $675,251

WE RAISE VITAL RESOURCES TO FUND INDIVIDUALS AND ORGANIZATIONS WHO ARE WORKING TO ADDRESS THE ROOT CAUSES OF EDUCATIONAL INEQUITY IN ARMENIA.

Program 2
Expenses: $433,684

WE PARTNER WITH INDIVIDUALS AND ORGANIZATIONS TO ENABLE INNOVATIVE SOLUTIONS SO THAT ALL KIDS CAN HAVE ACCESS TO A GREAT EDUCATION.

Program 3
Expenses: $57,641

WE BUILD AWARENESS AROUND THE ISSUE OF EDUCATIONAL INEQUITY IN ARMENIA THROUGH EVENTS, FORUMS, AND VOLUNTEER PROGRAMS.

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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%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,435,415
Program Service Revenue $0
Investment Income $0
Other Revenue $-12,608
TOTAL REVENUE $1,422,807

Expense Breakdown

Grants Paid $863,550
Salaries & Benefits $0
Fundraising Expenses $3,903
Program Expenses $1,166,576
Other Expenses $342,780
TOTAL EXPENSES $1,206,330

Year-over-Year Comparison

2024 2023 Change
Revenue $1,422,807 $958,493 +0.5%
Expenses $1,206,330 $727,920 +0.7%
Net Income $216,477 $230,573 -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

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Liquidity & Cash Position

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Governance

Voting Members
5
Independent Members
5
Employees
N/A
Volunteers
11

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
3
$0
Total Directors
5
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LARISA HOVANNISIAN CHAIR/PRESIDENT 5.00
Officer Director
$0 $0 $0
ANDY TOROSYAN CFO 5.00
Officer Director
$0 $0 $0
SUREN SEROPIAN SECRETARY 5.00
Officer Director
$0 $0 $0
SYLVA SIMONIAN DIRECTOR 5.00
Director
$0 $0 $0
CAROL ASLANIAN DIRECTOR 5.00
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 $1,422,807 $1,206,330 $1,262,464 $216,477
2023 $958,493 $727,920 $1,580,312 $230,573
2022 $560,929 $266,522 $808,351 $294,407
2021 $597,683 $711,479 $513,944 $-113,796
2020 $320,294 $191,178 $467,657 $129,116
2019 $202,381 $49,064 $338,541 $153,317
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