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← ARMENIAN CULTURAL ASSOCIATION OF NEW YORK INC

Form 990 for tax year 2022

Filed by ARMENIAN CULTURAL ASSOCIATION OF NEW YORK INC.

Totals

Total revenue
$354,899
Total expenses
$89,528
Contributions and grants received
$7,500
Grants paid
$73,000
Program service revenue
$0
Investment income
$341,569
Other revenue
$5,830
Total assets, end of year
$8,377,222
Total liabilities, end of year
$0
Net assets or fund balances, end of year
$8,377,222
Program services expenses (Part IX)
$73,000
Management and general expenses
$16,528
Fundraising expenses
$0
Program service expenses (Part III)
$73,000

Program services were 81.5% 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

    $7,500

  • 3 · Investment income

    total $66,485 · excluded $66,485

  • 7a · Gross sales of assets other than inventory

    securities $3,126,519

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

    securities $2,851,435

  • 7c · Gain or loss

    securities $275,084

  • 7d · Net gain or loss

    total $275,084 · excluded $275,084

  • 11a · Other revenue: REFUNDS & REIMBURSEMENTS

    total $5,830 · excluded $5,830

  • 11e · Other revenue, total

    $5,830

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $73,000 · program services $73,000

  • 11b · Fees: legal

    total $1,750 · management and general $1,750

  • 11c · Fees: accounting

    total $3,500 · management and general $3,500

  • 13 · Office expenses

    total $85 · management and general $85

  • 17 · Travel

    total $3,733 · management and general $3,733

  • 19 · Conferences, conventions and meetings

    total $7,290 · management and general $7,290

  • 24a · Other expenses: MISCELLANEOUS EXPENSES

    total $170 · management and general $170

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,619,879 · end of year $3,686,364

  • 11 · Investments: publicly traded securities

    beginning of year $6,367,242 · end of year $4,690,858

  • 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 $9,987,121 · end of year $8,377,222

Mission and programs · 2022

Mission

ARMENIAN CULTURAL ASSOCIATION OF NEW YORK, INC. HAS BEEN CREATED AND WILL BE OPERATED EXCLUSIVELY FOR CHARITABLE, EDUCATIONAL, AND SCIENTIFIC PURPOSES DIRECTED TO THE PRESERVATION AND CONTINUATION OF THE ARMENIAN CULTURAL AND HISTORICAL HERITAGE. IN CARRYING OUT ITS CHARITABLE PURPOSES, THE ORGANIZATION SHALL INFORM AND EDUCATE THE GENERAL PUBLIC IN THE HISTORY AND CULTURE OF THE ARMENIAN PEOPLE; PROVIDE FACILITIES FOR LECTURES, EXHIBITIONS AND SEMINARS RELATING TO THE ARMENIAN HERITAGE; ENCOURAGE AND AID IN THE STUDY OF SAID HERITAGE; ASSIST, SUPPORT, AND INSPIRIT NEEDY PEOPLE WHO HAVE DEVOTED THEIR LIVES TO THE PRESERVATION AND CONTINUATION OF THE ARMENIAN CULTURAL AND HISTORICAL HERITAGE; AND MAKE DISTRIBUTIONS TO ORGANIZATIONS THAT QUALIFY AS EXEMPT ORGANIZATIONS UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE.

Activities or mission (Part I)

OPERATED EXCLUSIVELY FOR THE PRESERVATION OF THE ARMENIAN CULTURAL AND HISTORICAL HERITAGE.

  • ARMENIAN CULTURAL ASSOCIATION OF AMERICA, INC. ("ACCA"), IS A NOT-FOR-PROFIT CORPORATION FORMED UNDER THE LAWS OF THE STATE OF MASSACHUSETTS AND ORGANIZED FOR THE CHARITABLE PURPOSES OF PRESERVING AND CONTINUING ARMENIAN CULTURE AND HISTORICAL HERITAGE WITH A NATIONAL FOCUS. ACAA IS EXEMPT FROM FEDERAL TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986 (THE "CODE"). ACAA CAUSED THE FORMATION OF ARMENIAN CULTURAL ASSOCIATION OF NEW YORK, INC. ("ACANY"), A NEW YORK NOT-FOR-PROFIT CORPORATION, IN MARCH 2019, WITH A SIMILAR CHARITABLE PURPOSE AS ACAA BUT WITH A FOCUS IN NEW YORK. ACANY IS ALSO EXEMPT FROM FEDERAL TAX UNDER SECTION 501(C)(3) OF THE CODE. CONTEMPORANEOUS WITH SUCH FORMATION, ACAA PLEDGED TO FUND ACANY WITH THE PROCEEDS REALIZED FROM THE SALE OF PROPERTY LOCATED AT 69-23 47TH AVENUE, WOODSIDE, NEW YORK 11377 (THE "PROPERTY"). THE PROPERTY WAS SOLD ON MARCH 29, 2019, WHEREBY, ACAA RECEIVED, AFTER THE PAYMENT OF ALL COSTS, NET SALE PROCEEDS IN THE AMOUNT OF $7,744,409.61. ACAA THEN, CONSISTENT WITH ITS PLEDGE, TRANSFERRED THAT $7,744,409.61 FROM THE SALE OF THE PROPERTY TO ACANY.

    Expenses $73,000 · Grants $73,000

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Valot Atakhanian

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • John Mkrtschjan

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Razmig Haroun

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Armen Caprielian

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Robert Setrakian

    DIRECTOR

    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

Provenance

Return type
form_990
Tax year
2022
Filed
10 November 2023
IRS schema version
2022v5.0
Source object
202313189349302881

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