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Nonprofiteer
← FUND FOR ARMENIAN RELIEF INC

Form 990 for tax year 2023

Filed by FUND FOR ARMENIAN RELIEF INC.

Totals

Total revenue
$8,556,205
Total expenses
$5,884,833
Contributions and grants received
$7,344,566
Grants paid
$2,017,975
Program service revenue
$168,305
Investment income
$1,043,334
Other revenue
$0
Total assets, end of year
$27,945,385
Total liabilities, end of year
$145,431
Net assets or fund balances, end of year
$27,799,954
Program services expenses (Part IX)
$4,833,660
Management and general expenses
$544,750
Fundraising expenses
$506,423
Program service expenses (Part III)
$4,833,660

Program services were 82.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $7,344,566

  • 1g · Noncash contributions included above

    $51,424

  • 2a · Program service revenue: USAID PROGRAM INCOME

    total $166,509 · related or exempt $166,509

  • 2b · Program service revenue: BCPP PROGRAM INCOME

    total $1,796 · related or exempt $1,796

  • 3 · Investment income

    total $325,954 · excluded $325,954

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7a · Gross sales of assets other than inventory

    securities $8,968,046

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

    securities $8,250,666

  • 7c · Gain or loss

    securities $717,380

  • 7d · Net gain or loss

    total $717,380 · excluded $717,380

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $16,000 · program services $16,000

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $2,001,975 · program services $2,001,975

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $266,233 · program services $220,964 · management and general $20,169 · fundraising $25,100

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $907,704 · program services $785,023 · management and general $101,096 · fundraising $21,585

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $14,656 · management and general $14,656

  • 10 · Payroll taxes

    total $19,110 · program services $9,203 · management and general $7,950 · fundraising $1,957

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $11,669 · management and general $11,669

  • 11c · Fees: accounting

    total $133,649 · management and general $133,649

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $52,174 · management and general $52,174

  • 11g · Fees: other

    total $362,798 · program services $239,993 · management and general $14,015 · fundraising $108,790

  • 12 · Advertising and promotion

    total $244,133 · program services $4,349 · management and general $12,840 · fundraising $226,944

  • 13 · Office expenses

    total $127,617 · program services $66,248 · management and general $14,906 · fundraising $46,463

  • 14 · Information technology

    total $6,000 · management and general $6,000

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $128,038 · program services $81,806 · management and general $46,232

  • 17 · Travel

    total $101,626 · program services $83,894 · management and general $14,348 · fundraising $3,384

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $31,164 · program services $7,252 · management and general $23,912

  • 20 · Interest

    total $0

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $33,143 · program services $12,850 · management and general $20,293

  • 23 · Insurance

    total $33,543 · program services $5,398 · management and general $28,145

  • 24a · Other expenses: PROJECT SUPPLIES

    total $691,281 · program services $691,281

  • 24b · Other expenses: REBRANDING EXPENSE

    total $72,200 · fundraising $72,200

  • 24c · Other expenses: CONTRACT LABOR

    total $585,640 · program services $585,640

  • 24d · Other expenses: EQUIPMENT

    total $18,495 · program services $18,495

  • 24e · All other expenses

    total $25,985 · program services $3,289 · management and general $22,696

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $18,609 · end of year $180,363

  • 2 · Savings and temporary cash investments

    beginning of year $3,902,504 · end of year $3,824,795

  • 3 · Pledges and grants receivable

    beginning of year $5,807,361 · end of year $6,445,127

  • 4 · Accounts receivable

    beginning of year $0 · end of year $0

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $79,682 · end of year $55,760

  • 8 · Inventories for sale or use

    beginning of year $222,757 · end of year $166,200

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $62,527

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

    $1,862,106

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

    $491,229

  • 10c · Land, buildings and equipment, net

    beginning of year $1,404,021 · end of year $1,370,877

  • 11 · Investments: publicly traded securities

    beginning of year $6,298,091 · end of year $8,122,963

  • 12 · Investments: other securities

    beginning of year $5,526,638 · end of year $5,641,462

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $1,852,492 · end of year $2,075,311

  • 17 · Accounts payable and accrued expenses

    beginning of year $108,268 · end of year $145,431

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $6,777,920 · end of year $7,730,806

  • 28 · Net assets with donor restrictions

    beginning of year $18,225,967 · end of year $20,069,148

Mission and programs · 2023

Mission

FAR IS DEDICATED TO HONORING THE PAST, EMPOWERING THE PRESENT ANDENSURING THE FUTURE FOR PEOPLE IN ARMENIA. FAR GIVES HOPE, GUIDANCE AND OPPORTUNITY TO THOSE IN NEED, EMPOWERING THEM TO CREATE A BETTERPRESENT AND HELPING THEM PAVE THE WAY TO A STRONGER FUTURE. FAR'S VISION IS TO DEVELOP AN EQUITABLE, SUSTAINABLE, AND RESILIENT ARMENIAN HOMELAND, WHERE PEOPLE ARE THRIVING: LEADING DIGNIFIED LIVES WITH UNIVERSAL ACCESS TO OPPORTUNITIES TO REALIZE THEIR FULL POTENTIAL THROUGH EDUCATION, HEALTHCARE AND DECENT WORK. THEY ARE PROUD MEMBERS OF A PROGRESSIVE NATION MAKING INDISPENSABLE CONTRIBUTIONS TO THE BETTERMENT OF THEIR LOCAL COMMUNITIES AND THE WORLD AT LARGE. FAR PROVIDES SHORT TERM EMERGENCY RELIEF AND IMPLEMENTS LONG-TERM PROGRAMS FOR THE ECONOMIC GROWTH AND SOCIAL DEVELOPMENT OF ARMENIA.IT HELPS THE MOST VULNERABLE SEGMENTS OF THE POPULATION - CHILDREN AND THE ELDERLY - AND PREPARES PROFESSIONALS TO LEAD THEIR NEWLY INDEPENDENT COUNTRY. HEADQUARTERED IN NEW YORK, FAR HAS THREE OFFIC

Activities or mission (Part I)

FAR provides short-term emergency relief and implements long-term programs for economic growth and social development of Armenia by helping the children and elderly.

  • Economic development programs - See Schedule O for program description

    Expenses $1,423,051 · Grants $557,597

  • Educational programs - see Schedule O for program description.

    Expenses $603,084 · Grants $295,129

  • Childrens Programs - see Schedule O for program description

    Expenses $1,494,448 · Grants $775,651

  • Emergency Needs program

    Expenses $666,323 · Grants $119,912

  • Seniors program

    Expenses $436,811 · Grants $107,246

  • Healthcare programs

    Expenses $209,943 · Grants $74,517

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Garnik Nanagoulian

    EXECUTIVE DIRECTOR

    Total calculated
    $136,000
    From this org
    $136,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Bagrat Sargsyan

    COUNTRY DIRECTOR

    Total calculated
    $72,733
    From this org
    $72,733
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Bree Perlman

    Director of Development

    Total calculated
    $57,500
    From this org
    $57,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Bishop Mesrop Parsamyan

    President

    Total calculated
    $0
    Hours/week
    1

  • Randy Sapah-Gulian

    Chairman

    Total calculated
    $0
    Hours/week
    1

  • Abp Khajag Barsamian

    Vice Chairman

    Total calculated
    $0
    Hours/week
    1

  • Carl Bazarian

    Vice Chairman

    Total calculated
    $0
    Hours/week
    1

  • Dennis Tarzian

    Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Marta Batmasian

    Secretary

    Total calculated
    $0
    Hours/week
    1

  • Oscar Tatosian

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Pontish Yeramyan

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Nishan Atinizian

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Armen Avanessians

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Dr Richard Babayan

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Lynn D Barsamian

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Bonnie A Barsamian Dunn

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Zara Ingilizian

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Rev Fr Yeprem Kelegian

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Edward S Mardigian

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Sandra Shaninian

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Greg Toufayan

    Board member

    Total calculated
    $0
    Hours/week
    1

  • Richard H Papalian

    board Member

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • CHILDRENS SUPPORT CENTER FOUNDATION

    n/a · ORPHANAGE · AM · controlled entity

    Directly controlled by FAR

  • VANADZOR OLD AGE HOME FOUNDATION

    n/a · OLD AGE HOME · AM · controlled entity

    Directly controlled by FAR

  • GYUMRI INFORMATION TECHNOLOGIES CENTER

    n/a · SCHOOL · AM · controlled entity

    Directly controlled by FAR

  • Tavush Foundation

    N/A · AM · controlled entity

    Directly controlled by FAR

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • GORTCARAR HOF LCC

    AGRICULTURE · AM · assets $0

    Directly controlled by FAR

Provenance

Return type
form_990
Tax year
2023
Filed
6 August 2024
IRS schema version
2023v5.1
Source object
202442259349300614

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