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Nonprofiteer
← FRIENDS OF TEACH FOR ARMENIA INCORPORATED

Form 990 for tax year 2023

Filed by FRIENDS OF TEACH FOR ARMENIA INCORPORATED.

Totals

Total revenue
$958,493
Total expenses
$727,920
Contributions and grants received
$958,493
Grants paid
$535,888
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,580,312
Total liabilities, end of year
$541,388
Net assets or fund balances, end of year
$1,038,924
Program services expenses (Part IX)
$683,936
Management and general expenses
$40,786
Fundraising expenses
$3,198
Program service expenses (Part III)
$683,936

Program services were 94.0% 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

    $958,493

Functional expenses

Part IX, the statement of functional expenses.

  • 3 · Grants to foreign organizations and individuals

    total $535,888 · program services $535,888

  • 11b · Fees: legal

    total $21,608 · management and general $21,608

  • 11c · Fees: accounting

    total $9,350 · management and general $9,350

  • 11g · Fees: other

    total $95,652 · program services $88,000 · management and general $5,739 · fundraising $1,913

  • 12 · Advertising and promotion

    total $16,867 · program services $15,518 · management and general $1,012 · fundraising $337

  • 13 · Office expenses

    total $1,651 · program services $1,596 · management and general $41 · fundraising $14

  • 14 · Information technology

    total $7,441 · program services $6,846 · management and general $446 · fundraising $149

  • 24a · Other expenses: DUES & SUBSCRIPTIONS

    total $39,227 · program services $36,088 · management and general $2,354 · fundraising $785

  • 24b · Other expenses: LICENSES & PERMITS

    total $200 · management and general $200

  • 24c · Other expenses: STATE TAXES

    total $36 · management and general $36

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $808,351 · end of year $1,580,312

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $541,388

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $808,351 · end of year $1,038,924

Mission and programs · 2023

Mission

TO ELIMINATE EDUCATIONAL INEQUITY, ESPECIALLY IN ARMENIA, BY WORKING WITH THE TEACH FOR ALL NETWORK TO RAISE FUNDS TO IMPROVE EDUCATIONAL OUTCOMES WITH POVERTY STRICKEN CHILDREN, RECRUITING AND TRAINING RECENT COLLEGE GRADUATES, AND LAUNCHING FUNDRAISING CAMPAIGNS TO FINANCE ALL OBJECTIVES ABOVE.

Activities or mission (Part I)

AIMS TO RAISE FUNDS TO IMPROVE EDUCATIONAL OUTCOMES FOR STUDENTS IN UNDERSERVED COMMUNITIES.

  • WE PARTNER WITH INDIVIDUALS AND ORGANIZATIONS TO ENABLE INNOVATIVE SOLUTIONS SO THAT ALL KIDS CAN HAVE ACCESS TO A GREAT EDUCATION.

    Expenses $379,984 · Grants $325,631

  • WE RAISE VITAL RESOURCES TO FUND INDIVIDUALS AND ORGANIZATIONS WHO ARE WORKING TO ADDRESS THE ROOT CAUSES OF EDUCATIONAL INEQUITY IN ARMENIA.

    Expenses $302,332 · Grants $210,257

  • WE BUILD AWARENESS AROUND THE ISSUE OF EDUCATIONAL INEQUITY IN ARMENIA THROUGH EVENTS, FORUMS, AND VOLUNTEER PROGRAMS.

    Expenses $1,620

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

Listed in Part VII

  • Larisa Hovannisian

    CHAIR/PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Suren Seropian

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Andy Torosyan

    CFO

    Total calculated
    $0
    Hours/week
    5

  • Sylva Simonian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Carol Aslanian

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
20 July 2024
IRS schema version
2023v5.1
Source object
202423189349310737

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