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← ARMENIAN GENERAL BENEVOLENT UNION

Form 990 for tax year 2024

Filed by ARMENIAN GENERAL BENEVOLENT UNION.

Totals

Total revenue
$34,559,386
Total expenses
$29,384,138
Contributions and grants received
$23,882,194
Grants paid
$14,061,998
Program service revenue
$1,301,573
Investment income
$9,195,691
Other revenue
$179,928
Total assets, end of year
$327,469,882
Total liabilities, end of year
$5,026,270
Net assets or fund balances, end of year
$322,443,612
Program services expenses (Part IX)
$23,842,391
Management and general expenses
$4,303,762
Fundraising expenses
$1,237,985
Program service expenses (Part III)
$23,842,391

Program services were 81.1% 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.

  • 1b · Membership dues

    $29,941

  • 1f · All other contributions, gifts and grants

    $23,852,253

  • 1g · Noncash contributions included above

    $2,614,784

  • 2a · Program service revenue: TUITION

    total $1,301,573 · related or exempt $1,301,573

  • 3 · Investment income

    total $7,572,430 · excluded $7,572,430

  • 5 · Royalties

    total $3,357 · excluded $3,357

  • 6a · Gross rents

    real property $106,585

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $106,585

  • 6d · Net rental income or loss

    total $106,585 · excluded $106,585

  • 7a · Gross sales of assets other than inventory

    securities $245,139,019

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

    securities $243,515,758

  • 7c · Gain or loss

    securities $1,623,261

  • 7d · Net gain or loss

    total $1,623,261 · excluded $1,623,261

  • 10a · Gross sales of inventory

    $69,986

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $69,986 · excluded $69,986

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $6,156,306 · program services $6,156,306

  • 2 · Grants to domestic individuals

    total $576,150 · program services $576,150

  • 3 · Grants to foreign organizations and individuals

    total $7,329,542 · program services $7,329,542

  • 5 · Compensation of officers, directors and key employees

    total $304,751 · management and general $304,751

  • 7 · Other salaries and wages

    total $4,485,268 · program services $3,123,075 · management and general $721,326 · fundraising $640,867

  • 8 · Pension plan contributions

    total $207,216 · program services $140,070 · management and general $37,547 · fundraising $29,599

  • 9 · Other employee benefits

    total $609,874 · program services $422,975 · management and general $101,727 · fundraising $85,172

  • 10 · Payroll taxes

    total $402,927 · program services $264,373 · management and general $84,052 · fundraising $54,502

  • 11b · Fees: legal

    total $31,138 · program services $7,890 · management and general $23,248

  • 11c · Fees: accounting

    total $275,241 · management and general $275,241

  • 11f · Fees: investment management

    total $764,101 · management and general $764,101

  • 11g · Fees: other

    total $1,603,291 · program services $1,306,032 · management and general $290,482 · fundraising $6,777

  • 12 · Advertising and promotion

    total $143,603 · program services $23,943 · management and general $115,545 · fundraising $4,115

  • 13 · Office expenses

    total $934,541 · program services $774,735 · management and general $103,586 · fundraising $56,220

  • 14 · Information technology

    total $268,499 · program services $156,605 · management and general $73,308 · fundraising $38,586

  • 16 · Occupancy

    total $846,446 · program services $658,442 · management and general $84,912 · fundraising $103,092

  • 17 · Travel

    total $263,261 · program services $184,580 · management and general $70,865 · fundraising $7,816

  • 19 · Conferences, conventions and meetings

    total $1,624,234 · program services $653,007 · management and general $794,634 · fundraising $176,593

  • 22 · Depreciation, depletion and amortization

    total $1,667,644 · program services $1,490,413 · management and general $161,823 · fundraising $15,408

  • 23 · Insurance

    total $397,768 · program services $277,391 · management and general $120,377

  • 24a · Other expenses: REPAIRS AND MAINTENANCE

    total $203,475 · program services $180,503 · management and general $22,972

  • 24b · Other expenses: SERVERANCE AND LIFE EST

    total $179,434 · program services $55,846 · management and general $123,588

  • 24c · Other expenses: DUE AND SUBSCRIPTIONS

    total $76,697 · program services $32,193 · management and general $25,283 · fundraising $19,221

  • 24d · Other expenses: PROGRAM ACTIVITIES

    total $17,895 · program services $16,932 · management and general $946 · fundraising $17

  • 24e · All other expenses

    total $14,836 · program services $11,388 · management and general $3,448

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,656,634 · end of year $1,844,810

  • 2 · Savings and temporary cash investments

    beginning of year $5,334,468 · end of year $2,573,858

  • 3 · Pledges and grants receivable

    beginning of year $2,361,485 · end of year $2,159,089

  • 4 · Accounts receivable

    beginning of year $582,942 · end of year $1,124,689

  • 9 · Prepaid expenses and deferred charges

    beginning of year $85,683 · end of year $98,299

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

    $73,665,614

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

    $39,067,149

  • 10c · Land, buildings and equipment, net

    beginning of year $33,464,938 · end of year $34,598,465

  • 12 · Investments: other securities

    beginning of year $241,278,608 · end of year $260,482,030

  • 15 · Other assets

    beginning of year $24,663,352 · end of year $24,588,642

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,430,558 · end of year $4,483,620

  • 25 · Other liabilities

    beginning of year $793,045 · end of year $542,650

  • 27 · Net assets without donor restrictions

    beginning of year -$5,546,201 · end of year -$789,568

  • 28 · Net assets with donor restrictions

    beginning of year $310,750,708 · end of year $323,233,180

Mission and programs · 2024

Mission

ENSURING THE PROSPERITY AND WELL-BEING OF ALL ARMENIANS.

  • EDUCATIONAL - A LIFETIME OF GROWTH AND DISCOVERY - AGBU TAKES A 360 APPROACH TO EDUCATION, INCLUDING TRADITIONAL AND INNOVATIVE LEARNING PLATFORMS AND PROGRAMS. WE PARTNER WITH REPUTABLE WORLD CLASS LEARNING INSTITUTIONS TO ELEVATE AND EXPAND THE REACH OF ARMENIAN STUDIES. IN ADDITION, WE STRIVE TO EXPOSE THE WORLD TO THE UNIQUE ATTRIBUTES OF THE ARMENIAN NATION AND ITS CONTRIBUTIONS TO THE CIVILIZED WORLD SINCE ANCIENT TIMES. BY EMBRACING DIVERSE PERSPECTIVES, AGBU IS A GATEWAY TO RICH EDUCATIONAL EXPERIENCES FOR LEARNERS AT EACH STAGE OF LIFE.

    Expenses $10,215,982 · Grants $8,034,252 · Revenue $424,092

  • CULTURAL-ENRICHING THE MULTIFACETED ARMENIAN EXPERIENCE ARMENIAN CULTURE THRIVES ACROSS THE WORLD AS A KEY MARKER OF OUR UNIQUE NATIONAL IDENTITY. MUSIC AND THE ARTS, LITERATURE AND ARCHITECTURE, AS WELL AS ANCIENT, FOLK AND RELIGIOUS TRADITIONS HELP DRIVE THE AGBU MISSION TO UPLIFT ARMENIAN LIVES THROUGH CREATIVE EXPRESSION. OVER THE DECADES, AGBU HAS LAUNCHED AN ARRAY OF CULTURAL INITIATIVES THAT CONNECT ARMENIANS IN EVERY GENERATION ACROSS THE WORLD. WE ALSO ENCOURAGE RISING TALENTS TO EXPLORE THEIR POTENTIALS, AND WE PARTNER WITH WORLD-CLASS INSTITUTIONS TO SHARE OUR GIFTS WITH GLOBAL AUDIENCES.

    Expenses $10,402,367 · Grants $3,060,708 · Revenue $877,481

  • SOCIO-ECONOMIC DEVELOPMENT - BUILDING A SUSTAINABLE HOMELAND IN THE REPUBLIC OF ARMENIA, THE STAKES FOR SOCIO-ECONOMIC PROGRESS ARE FOREMOST TO ENSURE A LIVING MANIFESTATION OF OUR COLLECTIVE IDENTITY WITHIN THE BOUNDARIES OF A LAND THAT IS AT ONCE A SOVEREIGN NATION STATE AND AN ANCESTRAL HOMELAND. AGBU WORKS TO STRENGTHEN THE COUNTRY BY PROVIDING INFRASTRUCTURES AND RESOURCES TO CARVE A PATH TO UPWARD MOBILITY. THESE NATION-BUILDING STRATEGIES ARE ESSENTIAL TO FUELING THE ECONOMIC GROWTH CRITICAL TO LONG-TERM NATIONAL VIABILITY. WITH OUR SAFETY NETS FOR THE MOST VULNERABLE, OUR STEPPING STONES FOR JOB SEEKERS AND AMBITIOUS ENTREPRENEURS, AND OUR BRIDGES THAT CONNECT KEY INDUSTRIES TO WORLD MARKETS, AGBU'S COMMITMENT TO HELPING ARMENIA IS REFLECTED IN WELL-DESIGNED STRATEGIC PROGRAMS AND PROJECTS AIMED AT STEADY ECONOMIC GROWTH AND SUSTAINABILITY.

    Expenses $2,286,141 · Grants $2,275,889

  • Expenses $937,901 · Grants $691,149

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MARK GITLEN

    CHIEF FINANCIAL OFFICER

    Total calculated
    $304,751
    From this org
    $267,025
    From related orgs
    $0
    Other
    $37,726
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $232,025
    Bonus
    $35,000
    Other
    $0
    Deferred
    $8,100
    Nontaxable benefits
    $29,626
    Filer's total
    $304,751

  • SAM SIMONIAN

    PRESIDENT-ON 10/24

    Total calculated
    $0
    Hours/week
    20 + 1 related

  • JOSEPH OUGHOURLIAN

    VICE PRESIDENT-OFF 10/24

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • YERVANT ZORIAN

    MEMBER-OFF 10/24, V.P. -ON 10/24

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • ARDA NAZERIAN HARATUNIAN

    ASST SECTY-OFF 10/24, V.P. ON 10/24

    Total calculated
    $0
    Hours/week
    10 + 1 related

  • NAZARETH FESTEKJIAN

    TREASURER

    Total calculated
    $0
    Hours/week
    20 + 1 related

  • YERVANT DEMIRJIAN

    ASSISTANT TREASURER

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • ANI MANOUKIAN

    MEMBER-OFF 10/24, SECTY ON 10/24

    Total calculated
    $0
    Hours/week
    30 + 1 related

  • HAIG ARIYAN

    MEMBER

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • ARNAUD ATTAMIAN

    MEMBER

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • CAMILIO AZZOUZ

    MEMBER

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • ERIC ESRAILIAN

    MEMBER

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • VAHE GABRACHE

    MEMBER

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • NADIA GORTZUNIAN

    MEMBER

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • SARKIS JEBEJIAN

    SECTY-OFF 10/24, MEMBER ON 10/24

    Total calculated
    $0
    Hours/week
    10 + 1 related

  • VARTKES KNADJIAN

    MEMBER

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • ARI LIBARIKIAN

    MEMBER

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • YEGHICHE MANOUKIAN

    MEMBER

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • LORI MUNCHERIAN

    MEMBER

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • LEVON NAZARIAN

    MEMBER

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • LENA SARKISSIAN

    MEMBER

    Total calculated
    $0
    Hours/week
    5 + 1 related

  • VASKEN YACOUBIAN

    MEMBER

    Total calculated
    $0
    Hours/week
    30 + 1 related

  • KAREN ALINE PAPAZIAN

    DIRECTOR- OUTREACH & DEVEL

    Total calculated
    $186,109
    From this org
    $167,787
    From related orgs
    $0
    Other
    $18,322
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,787
    Bonus
    $15,000
    Other
    $0
    Deferred
    $5,100
    Nontaxable benefits
    $13,222
    Filer's total
    $186,109

  • KATHRYN V MANUELIAN

    DIRECTOR OF COMMUNICATIONS

    Total calculated
    $184,589
    From this org
    $176,848
    From related orgs
    $0
    Other
    $7,741
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $151,848
    Bonus
    $25,000
    Other
    $0
    Deferred
    $5,250
    Nontaxable benefits
    $2,491
    Filer's total
    $184,589

  • NAHEED ELYASI

    DIRECTOR OF MARKETING

    Total calculated
    $178,819
    From this org
    $161,334
    From related orgs
    $0
    Other
    $17,485
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $146,334
    Bonus
    $15,000
    Other
    $0
    Deferred
    $4,950
    Nontaxable benefits
    $12,535
    Filer's total
    $178,819

  • NATALIE GABRIELIAN

    DIRECTOR OF CHAPTERS & CENTRAL BOARD ADMINISTRATIO

    Total calculated
    $172,757
    From this org
    $153,696
    From related orgs
    $0
    Other
    $19,061
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,696
    Bonus
    $0
    Other
    $0
    Deferred
    $4,800
    Nontaxable benefits
    $14,261
    Filer's total
    $172,757

  • GOHAR STOMBOLYAN

    DIRECTOR WEST REGION

    Total calculated
    $166,059
    From this org
    $140,122
    From related orgs
    $0
    Other
    $25,937
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,122
    Bonus
    $8,000
    Other
    $0
    Deferred
    $4,215
    Nontaxable benefits
    $21,722
    Filer's total
    $166,059

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
BONUS WERE NON-FIXED DISCRETIONARY; ACCRUED AS OF 12/31/2024; PAID IN 2025

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

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.

  • AGBU MANOOGIAN-DEMIRDJIAN SCHOOL

    501(C)(3) · EDUCATIONAL · CA

  • AGBU UNION GENERALE ARMENIENNE DE BIENFAISANCE DE MONTREAL INC

    HUMANITARIAN, CULTURAL · CA

  • AGBU UNION GENERAL ARMENIA DE BENEFICENCIA (BUENOS AIRES)

    EDUCATIONAL · AR

  • AGBU UNION GENERALE ARMENIENNE DE BIENFAISANCE (LEBANON)

    EDUCATIONAL · LE

  • AGBU EUROPE

    CULTURAL · BE

  • UNION GENERALE ARMENIENNE DE BIENFAISANCE (FRANCE)

    EDUCATIONAL, CULTURAL & HUMANITARIAN · FR

  • AGBU PAREKORDZAGAN SOFIA

    CULTURAL · BU

  • AGBU PAREKORDZAGAN VARNA

    CULTURAL · BU

  • AGBU PAREKORDZAGAN PLOVDIV

    CULTURAL · BU

  • AGBU ECOLE ARMEN QUEBEC DE I'UGAB

    CULTURAL · CA

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202523219349302462

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