ST NERSESS ARMENIAN SEMINARY INC (EIN 510198454) - 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

1974

Legal Domicile

Principal Officer

KAREN DILIMETIN

Phone

9142730200

Tax Period

2024-06-01 to 2025-05-31

ST NERSESS ARMENIAN SEMINARY INC, founded in 1974, is a community nonprofit that reported $1.4M in total revenue in fiscal year 2024. Revenue fell 50% from the prior year — a significant decline worth monitoring. Expenses of $1.7M exceeded revenue, resulting in a 24% operating deficit.

Mission

ST. NERSESS ARMENIAN SEMINARY PROVIDES QUALITY EDUCATION AND TRAINING TO OUR SEMINARIANS, CURRENT CLERGY, AND THE COMMUNITY. ITS COMMITMENT TO THE GROWTH OF THE ARMENIAN CHURCH WILL BE ACHIEVED THROUGH THE CONTINUING EDUCATION OF CURRENT PRIESTS; SUPPORT AND TRAINING OF ARMENIAN PRIESTS FROM ABROAD; RESEARCH AND EDUCATIONAL OPPORTUNITIES FOR EXCHANGE FACULTY AND STUDENTS; AND THE CONTINUATION OF OUR 60+ YEAR TRADITION OF SUMMER YOUTH CONFERENCES AND DEACONS' TRAINING PROGRAMS. ST. NERSESS ARMENIAN SEMINARY IS THE ONLY SEMINARY IN THE WESTERN HEMISPHERE.

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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 $773,572

Program Service Revenue $78,587

Investment Income $500,037

Other Revenue $11,817

TOTAL REVENUE $1,364,013

Expense Breakdown

Grants Paid $64,976

Salaries & Benefits $702,266

Fundraising Expenses $47,758

Program Expenses $1,051,743

Other Expenses $926,285

TOTAL EXPENSES $1,693,527

Year-over-Year Comparison

	2024	2023	Change
Revenue	$1,364,013	$2,720,936	-0.5%
Expenses	$1,693,527	$1,435,049	+0.2%
Net Income	$-329,514	$1,285,887	-1.3%

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

$115,817

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MR KARNIG DURGARIAN	CHAIRPERSON	0.50	Officer Director	$0	$0	$0
MR DAVID ONANIAN	VICE CHAIR AS OF 1/2025	0.50	Officer Director	$0	$0	$0
MR RICHARD PAPALIAN	TREASURER	0.50	Officer Director	$0	$0	$0
MS KAREN DILIMETIN	ASSISTANT TREASURER	0.50	Officer Director	$0	$0	$0
MR MICHAEL KASPARIAN	SECRETARY	0.50	Officer Director	$0	$0	$0
MS CAROL B ASLANIAN	SECRETARY THRU 10/2024	0.50	Officer Director	$0	$0	$0
MRS MARIA STEPANIAN	ASST. SECRETARY THRU 10/2024	0.50	Officer Director	$0	$0	$0
MR GLENN A AJAMIAN	DIRECTOR	0.50	Director	$0	$0	$0
MR RAFFI V BALIAN	DIRECTOR	0.50	Director	$0	$0	$0
MR ROBERT GEORGE	DIRECTOR	0.50	Director	$0	$0	$0
REV FATHER VART GYOZALYAN	DIRECTOR	0.50	Director	$0	$0	$0
DN DIRAN JEBEJIAN	DIRECTOR	0.50	Director	$0	$0	$0
DN ARA JEKNAVORIAN	DIRECTOR	0.50	Director	$0	$0	$0
REV FATHER YEPREM KELEGIAN	DIRECTOR	0.50	Director	$0	$0	$0
MR GREGORY MELCONIAN	DIRECTOR THRU 10/2024	0.50	Director	$0	$0	$0
MRS MARGARET MGRUBLIAN	DIRECTOR	0.50	Director	$0	$0	$0
PROFESSOR MARK MOVSESIAN	DIRECTOR	0.50	Director	$0	$0	$0
REV FATHER SARKIS PETOYAN	DIRECTOR	0.50	Director	$0	$0	$0
REV FATHER KRIKOR SABOUNJIAN	ADVISOR	0.50	Director	$0	$0	$0
MR DOUGLAS TASHJIAN	DIRECTOR	0.50	Director	$0	$0	$0
MICHAEL A ZEYTOONIAN ESQ	DIRECTOR	0.50	Director	$0	$0	$0
MR KEVORK ZORYAN	DIRECTOR	0.50	Director	$0	$0	$0
RT REV BISHOP MESROP PARSAMYAN	PRIMATE, PRESIDENT DIOCESE OF THE ARMENAIN CHURCH	0.50	Officer	$0	$0	$0
MOST REV ARCHBISHOP HOVNAN DERDERIA	PRIMATE, VP WESTERN DIOCESE OF THE ARMENIAN CHURCH	0.50	Officer	$0	$0	$0
REV FATHER MICHAEL CHEVIAN	DEAN, ST. NERSESS ARMENIAN ACADEMY	40.00	Officer	$72,012	$43,805	$115,817

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	$1,364,013	$1,693,527	$21,584,573	$-329,514
2024	$2,720,936	$1,435,049	$21,472,243	$1,285,887
2023	$1,120,747	$1,365,556	$19,952,136	$-244,809
2022	$2,109,997	$1,243,569	$20,129,385	$866,428
2021	$1,651,919	$1,209,642	$20,115,805	$442,277
2020	$601,721	$1,163,922	$17,217,074	$-562,201
2019	$947,469	$1,202,488	$17,787,330	$-255,019
2018	$923,107	$1,204,071	$17,800,056	$-280,964

ST NERSESS ARMENIAN SEMINARY INC