ARMENIA FUND INC

EIN: 954485698 501(c)(3) Philanthropy & Grantmaking

GLENDALE, CA

Total Revenue
$477,839
Total Expenses
$14,889,490
Total Assets
$44,802,290
Net Assets
$44,723,502
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Financial Trends

Organization Details

Formation Year
1994
Legal Domicile
CA
Principal Officer
MARIA MEHRANIAN
Phone
8182436222
Tax Period
2023-01-01 to 2023-12-31

ARMENIA FUND INC, founded in 1994, is a small nonprofit in the Philanthropy & Grantmaking sector that reported $478K in total revenue in fiscal year 2023. Revenue fell 67% from the prior year — a significant decline worth monitoring. Expenses of $14.9M exceeded revenue, resulting in a 3016% operating deficit.

Mission

SUPPORT THE PEOPLE OF ARMENIA.

Program Service Accomplishments

Program 1
Expenses: $11,532,047 Revenue: $0

CONSTRUCTION AND INFRASTRUCTURE PROJECTSFUNDING AND IMPLEMENTATION MANAGEMENT FOR CONSTRUCTION IN THE FOLLOWING AREAS:(I)ARTSAKH $7,837,950CONTINUED REHABILITATION AND REPAIR OF EXISTING HOUSING...

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CONSTRUCTION AND INFRASTRUCTURE PROJECTSFUNDING AND IMPLEMENTATION MANAGEMENT FOR CONSTRUCTION IN THE FOLLOWING AREAS:(I)ARTSAKH $7,837,950CONTINUED REHABILITATION AND REPAIR OF EXISTING HOUSING, CONSTRUCTION OF NEW MULTI-FAMILY AND SINGLE-FAMILY HOUSING UNITS FOR INTERNALLY DISPLACED PERSONS (IDP), MULTIPLE HOUSING, SINGLE AND MULTI-FAMILY PROJECTS IN STEPANAKERT, ASKERAN; FOLLOWING THE 2020 WAR AND THE DISPLACEMENT OF THOUSANDS OF FAMILIES FROM THEIR HOMES IN ARTSAKH (DUE TO DAMAGE/DESTRUCTION OF THEIR HOMES OR FORCED EVACUATION FROM OCCUPIED AREAS), ARMENIA FUND EMBARKED ON A ROBUST PROGRAM OF HOUSING CONSTRUCTION IN SAFER AND RELATIVELY PROTECTED AREAS OF ARTSAKH TO ACCOMMODATE THE DISPLACED FAMILIES.(II)GYUMRI HOUSING CONSTRUCTION $3,292,549A MULTI-YEAR, PHASED HOUSING CONSTRUCTION PROJECT IN THE CITY OF GYUMRI TO RELOCATE FAMILIES WHO, FOLLOWING THE 1988 EARTHQUAKE, HAVE LIVED IN INADEQUATE CONDITIONS, TO PERMANENT HOUSING. TWO BUILDINGS OF 15-UNITS WILL ALSO HOUSE FAMILIES OF LOST AND INJURED SERVICE MEMBERS OF THE 44-DAY WAR. GYUMRI 2ND PHASE HOUSING PROJECT TO HOUSE THE VICTIMS OF THE EARTHQUAKE AND FALLEN AND INJURED SOLDIERS OF THE 2020 WAR IN THE CITY OF GYUMRI, ARMENIA.(III)NERKIN KHNDZORESK $290,197: CONSTRUCTION OF SIX HOUSES FOR DISPLACED REFUGEES FROM ARTSAKH. (IV)NOYEMBERYAN MEDICAL CENTER $111,351:FUNDED THE COMPLETE RENOVATION AND RECONSTRUCTION OF THE INFECTIONS DEPARTMENT OF THE NOYEMBERYAN MEDICAL CENTER LOCATED IN THE TAVUSH REGION OF ARMENIA. MERE KILOMETERS FROM THE BORDER, THE NOYEMBERYAN MEDICAL CENTER IS A VITAL CENTER FOR WOUNDED SERVICEMEN TO RECEIVE IMMEDIATE TREATMENT. THIS PHASE OF THE PROJECT INCLUDED UPGRADES TO THE EARTHQUAKE RESISTANCE OF THE BUILDING, REPLACING THE ASBESTOS SLATE ROOF TO METAL, BUILDING A NEW FOUNDATION FOR THE BUILDING, INSTALLING HEATING THROUGHOUT THE BUILDING, REBUILDING THE INTERNAL SEWAGE SYSTEM OF THE BUILDING, AND UPGRADING THE ELECTRICAL INFRASTRUCTURE OF THE CENTER.

Program 2
Expenses: $915,909 Revenue: $0

ARTSAKH REFUGEE INITIATIVE URGENT HUMANITARIAN AIDIN SEPTEMBER 2023, AFTER IMPOSING A BLOCKADE FOR AN ENTIRE YEAR, THE MILITARY OF AZERBAIJAN BEGAN USING EXCESSIVE FORCE TO COMPLETE THEIR ETHNIC...

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ARTSAKH REFUGEE INITIATIVE URGENT HUMANITARIAN AIDIN SEPTEMBER 2023, AFTER IMPOSING A BLOCKADE FOR AN ENTIRE YEAR, THE MILITARY OF AZERBAIJAN BEGAN USING EXCESSIVE FORCE TO COMPLETE THEIR ETHNIC CLEANSING OF THE REGION OF ARTSAKH. AS A RESULT, 120,000 ARMENIANS LIVING IN ARTSAKH WERE FORCIBLY DISPLACED FROM THEIR HOMES AND ENTERED ARMENIA PROPER AS REFUGEES, MAKING IT THE LARGEST AND MOST RAPID INFLUX OF REFUGEES IN THE HISTORY OF ARMENIA. THIS BROUGHT MANY HUMANITARIAN AND CIVILIAN CHALLENGES FOR A COUNTRY THE SIZE OF ARMENIA, AND WITH THE WINTER RIGHT AROUND THE CORNER, ARMENIA FUND, INC. LAUNCHED THE ARTSAKH REFUGEE INITIATIVE PROGRAM. AN INDEPENDENT NEEDS ASSESSMENT WAS CONDUCTED BY ARMENIA FUND, INC. AND THE FRAMEWORK OF A SHORT, MID, AND LONG TERM PLAN WAS SET INTO MOTION. THE FOLLOWING REPRESENT THE SHORT AND MID TERM INITIATIVES THAT HAVE ALREADY BEEN IMPLEMENTED: (I) $792, 163: IN THE SHORT TERM, IMMEDIATE HUMANITARIAN RELIEF WAS PRIORITIZED. THE FUND ACQUIRED AND SENT VITAL MEDICINES AND MEDICAL EQUIPMENTS TO TREAT THOSE WHO FACED LIFE THREATENING INJURIES AS THE RESULT OF A GAS STATION EXPLOSION IN ARTSAKH. ADDITIONALLY, BY WORKING WITH RED CROSS ARMENIA, ARMENIA FUND, INC. PURCHASED AND DISTRIBUTED BEDS, HEATERS, AND HYGIENE KITS TO REFUGEES WHO SETTLED IN REMOTE VILLAGE COMMUNITIES. ARMENIA FUND ALSO COLLABORATED WITH A NUMBER OF SMALLER NON PROFIT ORGANIZATIONS THAT SERVED SPECIFIC AREAS OF HIGH REFUGEE SETTLEMENT TO PROVIDE THOSE IN NEED WITH EVERYDAY APPLIANCES AND HOUSEHOLD GOODS SUCH AS STOVES, REFRIGERATORS, CHAIRS, HEATERS, WARDROBES, AND OTHER SUCH GOODS.(II) $80,000: IN THE MID TERM, THE FUND PRIORITIZED PSYCHOLOGICAL ASSISTANCE AND SOCIAL REINTEGRATION PROGRAMS FOR REFUGEES WHO HAVE EXPERIENCED INTENSE TRAUMA. IN COLLABORATION WITH "WORLD VISION ARMENIA," THE FUND IMPLEMENTED AN ONGOING PROGRAM IN THE REGIONS OF TAVUSH, ARAGATSOTN, AND SYUNIK, WHERE A HIGH CONCENTRATION OF REFUGEES SETTLED. THE PROGRAM IS A COMPREHENSIVE PSYCHOSOCIAL TREATMENT SOLUTION FOR CHILDREN AND FAMILIES. UP TO 150 CHILDREN PARTICIPATE IN WORLD VISION'S "CHILD FRIENDLY SPACES AND SUMMER CAMP PROGRAMS, WHERE TRAINED PROFESSIONAL CHILD PSYCHOLOGISTS INTRODUCE THE CHILDREN TO CONCEPTS AND TOOL FOR SELF-SOOTHING AND DEALING WITH OVERWHELMING EMOTIONS.(III) $43,746: THE REMAINING AMOUNT INCLUDES TRAVEL EXPENSES FOR ARMENIA FUND STAFF AND CONSULTANT FEES.

Program 3
Expenses: $400,000 Revenue: $0

EXTREMELY POOR EMPLOYEE ASSISTANCE IS A COLLABORATIVE PROJECT WITH THE WESTERN DIOCESE OF ARMENIAN CHURCH TO PROVIDE DIRECT ASSISTANCE, HOUSING, HEALTH CARE AND SOCIAL SERVICES TO EXTREMELY POOR...

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EXTREMELY POOR EMPLOYEE ASSISTANCE IS A COLLABORATIVE PROJECT WITH THE WESTERN DIOCESE OF ARMENIAN CHURCH TO PROVIDE DIRECT ASSISTANCE, HOUSING, HEALTH CARE AND SOCIAL SERVICES TO EXTREMELY POOR EMPLOYEES OF THE WESTERN DIOCESE IN REMOTE VILLAGES.

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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 (2023)

Revenue Breakdown

Contributions & Grants $1,493,217
Program Service Revenue $0
Investment Income $-1,015,378
Other Revenue $0
TOTAL REVENUE $477,839

Expense Breakdown

Grants Paid $0
Salaries & Benefits $233,087
Fundraising Expenses $913,804
Program Expenses $13,714,303
Other Expenses $14,656,403
TOTAL EXPENSES $14,889,490

Year-over-Year Comparison

2023 2022 Change
Revenue $477,839 $1,461,457 -0.7%
Expenses $14,889,490 $10,131,468 +0.5%
Net Income $-14,411,651 $-8,670,011 +0.7%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
12
Independent Members
12
Employees
2
Volunteers
350

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
13
$0
Key Employees
0
$0
Highest Compensated
1
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARIA MEHRANIAN CHAIRPERSON 20.00
Officer Director
$0 $0 $0
SEDA YAGHOUBIAN TREASURER 8.00
Officer Director
$0 $0 $0
ARA MOVSESSIAN SECRETARY 4.00
Officer Director
$0 $0 $0
ABP HOVNAN DERDERIAN DIRECTOR 2.00
Director
$0 $0 $0
AVEDIK IZMIRLIAN DIRECTOR 2.00
Director
$0 $0 $0
BISHOP MIKAEL MOURADIAN DIRECTOR 2.00
Director
$0 $0 $0
BISHOP TORKOM DONOYAN DIRECTOR 2.00
Director
$0 $0 $0
MIHRAN KHACHADURIAN DIRECTOR 2.00
Director
$0 $0 $0
RAFFI BALIAN DIRECTOR 2.00
Director
$0 $0 $0
REVEREND HENDRIK SHAHNAZARIAN DIRECTOR 2.00
Director
$0 $0 $0
SILVA POLADIAN DIRECTOR 2.00
Director
$0 $0 $0
TALIN YACOUBIAN DIRECTOR 2.00
Director
$0 $0 $0
MIHRAN TOUMAJAN DIRECTOR (THRU 04/2023) 2.00
Director
$0 $0 $0
AZATUI KARAOGLANYAN EXECUTIVE DIRECTOR 40.00
Highest
$120,000 $5,670 $125,670
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 No data No data No data No data
2023 $477,839 $14,889,490 $44,802,290 $-14,411,651
2022 $1,461,457 $10,131,468 $52,336,741 $-8,670,011
2021 $8,000,794 $4,446,147 $68,598,938 $3,554,647
2020 $129,595,988 $66,456,299 $64,567,036 $63,139,689
2019 $1,819,460 $2,769,930 $1,266,290 $-950,470
2018 $3,916,864 $3,225,773 $1,916,467 $691,091
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