Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,498,775

• 1e · Government grants (contributions)

  $409,057

• 1f · All other contributions, gifts and grants

  $4,884,362

• 1g · Noncash contributions included above

  $46,805

• 2a · Program service revenue: SPONSORED RESEARCH

  total $26,921 · related or exempt $26,921

• 3 · Investment income

  total $1,339,266 · unrelated business $39,272 · excluded $1,299,994

• 7a · Gross sales of assets other than inventory

  securities $2,835,579

• 7b · Less cost or other basis and sales expenses

  securities $683,265

• 7c · Gain or loss

  securities $2,152,314

• 7d · Net gain or loss

  total $2,152,314 · excluded $2,152,314

• 8a · Fundraising events: gross income

  $88,200

• 8a · Fundraising events: contributions included on line 1c

  $1,498,775

• 8b · Fundraising events: direct expenses

  $48,686

• 8c · Net income from fundraising events

  total $39,514 · excluded $39,514

Functional expenses

Part IX, the statement of functional expenses.

• 3 · Grants to foreign organizations and individuals

  total $4,433,135 · program services $4,433,135

• 5 · Compensation of officers, directors and key employees

  total $641,647 · management and general $609,565 · fundraising $32,082

• 7 · Other salaries and wages

  total $549,577 · program services $87,247 · management and general $76,855 · fundraising $385,475

• 9 · Other employee benefits

  total $35,724 · management and general $6,631 · fundraising $29,093

• 10 · Payroll taxes

  total $75,050 · program services $5,233 · management and general $40,558 · fundraising $29,259

• 11c · Fees: accounting

  total $81,762 · management and general $81,762

• 12 · Advertising and promotion

  total $23,214 · management and general $23,204 · fundraising $10

• 13 · Office expenses

  total $122,446 · management and general $28,898 · fundraising $93,548

• 16 · Occupancy

  total $78,525 · management and general $78,525

• 17 · Travel

  total $51,383 · program services $11,750 · management and general $38,639 · fundraising $994

• 22 · Depreciation, depletion and amortization

  total $662,484 · program services $658,636 · management and general $3,848

• 23 · Insurance

  total $36,089 · management and general $36,089

• 24a · Other expenses: BAD DEBTS

  total $800,000 · management and general $800,000

• 24b · Other expenses: MATERIALS TO AUA

  total $393,893 · program services $393,893

• 24c · Other expenses: DUES AND SUBSCRIPTION

  total $126,079 · program services $119,897 · fundraising $6,182

• 24d · Other expenses: RECRUITING

  total $110,679 · management and general $110,679

• 24e · All other expenses

  total $193,491 · program services $129,055 · management and general $10,658 · fundraising $53,778

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $347,787 · end of year $319,534

• 2 · Savings and temporary cash investments

  beginning of year $3,461,075 · end of year $3,708,270

• 3 · Pledges and grants receivable

  beginning of year $4,158,601 · end of year $3,738,225

• 9 · Prepaid expenses and deferred charges

  beginning of year $188,359 · end of year $189,158

• 10a · Land, buildings and equipment: cost or other basis

  $24,650,074

• 10b · Land, buildings and equipment: accumulated depreciation

  $8,615,317

• 10c · Land, buildings and equipment, net

  beginning of year $16,115,386 · end of year $16,034,757

• 11 · Investments: publicly traded securities

  beginning of year $2,394 · end of year $2,483

• 12 · Investments: other securities

  beginning of year $92,157,839 · end of year $98,445,453

• 13 · Investments: program-related

  beginning of year $398,884 · end of year $425,350

• 17 · Accounts payable and accrued expenses

  beginning of year $52,561 · end of year $44,576

• 19 · Deferred revenue

  beginning of year $0 · end of year $0

• 27 · Net assets without donor restrictions

  beginning of year $30,238,132 · end of year $26,397,057

• 28 · Net assets with donor restrictions

  beginning of year $86,539,632 · end of year $96,421,597

The filer's explanations (Part III)

PART I, LINE 1A:

TRAVEL FOR COMPANION SINCE THE UNIVERSITY HAS ITS PRESENCE BOTH IN ARMENIA AND IN THE U.S., FREQUENT TRAVEL TO ARMENIA AND BACK TO THE U.S. IS A BUSINESS NECESSITY. THEREFORE, AUAC PAID FOR THE CURRENT PRESIDENT AND, ON OCCASION, THEIR FAMILY TO TRAVEL TO AND FROM ARMENIA FOR WORK DIRECTLY RELATED TO THEIR POSITION AS PRESIDENT IN ACCORDANCE WITH THE ESTABLISHED POLICIES. THESE TRAVEL BENEFITS PROVIDED TO THE PRESIDENT WERE TAXABLE AND REPORTED IN OTHER REPORTABLE COMPENSATION IN SCHEDULE J, PART II, COLUMN (B)(III). TAX GROSS-UP PAYMENTS THE ORGANIZATION PROVIDED THE CURRENT PRESIDENT A GROSS-UP PAYMENT FOR THEIR TAXABLE RETIREMENT BENEFITS, WHICH IS ALSO REPORTED IN OTHER REPORTABLE COMPENSATION IN SCHEDULE J, PART II, COLUMN (B)(III).

PART I, LINE 8:

AUAC ENTERED INTO AN INITIAL CONTRACT WITH DR. KARIN MARKIDES IN HER ROLE AS PRESIDENT. THE CONTRACT WAS REVIEWED AND APPROVED WITH CONTEMPORANEOUS DOCUMENTATION BY THE AUAC EXECUTIVE COMMITTEE OF THE BOARD ON 04/19/2019.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• HYBUSINESS INC

  C · RENTAL · NV · 100% owned · share of income $39,272 · share of assets $463,846 · controlled entity

  Directly controlled by AUAC