ST NERSESS ARMENIAN SEMINARY INC

EIN: 510198454 501(c)(3)

ARMONK, NY

Total Revenue
$1,364,013
Total Expenses
$1,693,527
Total Assets
$21,584,573
Net Assets
$21,573,690
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1974
Legal Domicile
NY
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 IS A RELIGIOUS EDUCATIONAL INSTITUTION OF HIGHER LEARNING FOR THE SUPPORT, EDUCATION AND TRAINING OF MEN AND WOMEN DEDICATED TO SERVICE AND MINISTRY IN THE ARMENIAN CHURCH.

Program Service Accomplishments

Program 1
Expenses: $1,051,743 Revenue: $78,587

RELIGIOUS EDUCATION OF SEMINARIANS, INCLUDING ROOM AND BOARD ON CAMPUS. EXTENDED STUDY PROGRAMS IN OUR SEMINARIES IN ARMENIA AND JERUSALEM TO STRENGTHEN THE ARMENIAN EDUCATION OF OUR AMERICAN BORN...

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RELIGIOUS EDUCATION OF SEMINARIANS, INCLUDING ROOM AND BOARD ON CAMPUS. EXTENDED STUDY PROGRAMS IN OUR SEMINARIES IN ARMENIA AND JERUSALEM TO STRENGTHEN THE ARMENIAN EDUCATION OF OUR AMERICAN BORN SEMINARIANS.EDUCATIONAL AND TRAINING WORKSHOPS FOR CURRENT PRIESTS THROUGH CONTINUING EDUCATION PROGRAMS. ACCLIMATION AND ACCULTURATION SUPPORT AND TRAINING FOR ARMENIAN PRIESTS FROM ABROAD WHO WILL SERVE IN NORTH AMERICAN DIOCESES.RESEARCH AND EDUCATIONAL OPPORTUNITIES FOR EXCHANGE FACULTY AND STUDENTS FROM THE MOTHER SEE OF HOLY ETCHMIADZIN AND THE ARMENIAN PATRIARCHATE OF JERUSALEM.UNDERGRADUATE PROGRAMS THAT COMBINE LOCAL COLLEGE STUDY AND COURSES, WORSHIP, AND RESIDENCE AT ST. NERSESS SEMINARY.CONTINUATION AND EXPANSION OF THE 50+ YEAR TRADITION OF SUMMER YOUTH PROGRAMS, RETREATS, AND ALTAR SERVER 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 $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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Liquidity & Cash Position

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Governance

Voting Members
19
Independent Members
19
Employees
9
Volunteers
21

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
10
$115,817
Total Directors
22
$0
Key Employees
0
$0
Highest Compensated
0
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
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