Armenian General Benevolent Union
- Assets
- $296.9m
- Revenue
- $43.9m
- Investments
- $233.0m
- Employees
- 105
- Location
- New York, NY
- Founding
- 11/1959
- Data as of
- 12/2021
- EIN
- 13-5600421
Organization Overview
Armenian General Benevolent Union is located in New York, NY. The organization was established in 1959. According to its NTEE Classification (Q12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of International, Foreign Affairs & National Security and related organizations. As of 12/2021, Armenian General Benevolent Union employed 105 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Armenian General Benevolent Union is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Armenian General Benevolent Union generated $43.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 9.6% each year. All expenses for the organization totaled $21.8m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Armenian General Benevolent Union has awarded 118 individual grants totaling $25,722,923. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
DEVOTED TO UPHOLDING THE ARMENIAN HERITAGE
Describe the Organization's Program Activity:
Part 3 - Line 4a
AGBU'S EDUCATIONAL PROGRAMS ENCOMPASS A VAST SPECTRUM OF OFFERINGS, FROM THE TRADITIONAL TO THE CONTEMPORARY, AND INCLUDE A GLOBAL NETWORK OF 24 PRIMARY, SECONDARY, PREPARATORY, SUMMER AND ONE-DAY SCHOOLS IN NEARLY A DOZEN COUNTRIES, WITH TOTAL ENROLLMENT OF OVER 3,500 STUDENTS; SPONSORSHIP OF AFTERSCHOOL PROGRAMS IN ARMENIA & ARTSAKH THAT DEVELOP TALENTS IN THE ARTS, CULTURE AND TECHNOLOGY; MENTORSHIP AND LEADERSHIP PROGRAMS; CONFERENCES AND NETWORKING FORUMS AND OPPORTUNITITIES, DIGITAL LEARNING RESOURCES (APPS, EBOOKS, ONLINE VIDEO SERIES, ONLINE E-SOURCE CENTER.); THE ARMENIAN VIRTUAL COLLEGE (DISTANCE LEARNING COURSES IN ARMENIAN STUDIES); A SCHOLARSHIP PROGRAM THAT ANNUALLY AWARDS 450 STUDENTS PURSUING UNDERGRADUATE AND GRADUATE LEVEL STUDIES AT COLLEGES AND UNIVERSITIES AROUND THE WORLD, AS WELL AS INSTITUTIONAL SUPPORT TO UNIVERSITIES AND EDUCATIONAL CENTERS IN ARMENIA & ARTSAKH.
AGBU'S CULTURAL PROGRAMS RANGE IN FOCUS FROM CULTIVATION AND SUPPORT OF THE NATIONAL ARTS TALENT DEVELOPMENT; ART & MUSIC ACADEMIES; CHORAL, MUSIC, LITERARY, DANCE AND THEATRE GROUPS AND EVENTS THROUGHOUT THE WORLD; GLOBAL PUBLICATIONS TO INSTILLING NATIONAL IDENTITY SUMMER CAMPS IN NORTH AMERICA, EUROPE, MIDDLE EAST, & ARMENIA; HOMELAND VOLUNTOURISM EXPERIENCES IN ARMENIA & FRANCE; SPORTS TEAMS AND ATHLETIC COMPETITIONS; SCOUTING PROGRAMS; INTERNSHIP PROGRAMS IN BOSTON, BUENOS AIRES, LONDON, LOS ANGELES, PARIS, NEW YORK, & YEREVAN, AS WELL AS A GLOBAL NETWORK OF 36 YOUNG PROFESSIONALS GROUPS. FURTHERMORE, SUPPORT IS EXTENDED TO RELIGIOUS INSTITUTIONS THROUGH CONSTRUCTION AND RENOVATION TO CHRISTIAN ARMENIAN HOUSES OF WORSHIP WORLDWIDE, SCHOLARSHIPS AND INSTITUTIONAL SUPPORT TO SEMINARIES AND CLERGY PURSUING RELIGIOUS STUDIES.
RELIGIOUS INSTITUTIONS: REPAIRS AND RENOVATIONS TO CHRISTIAN ARMENIAN HOUSES OF WORSHIP WORLDWIDE AND EDUCATION HOUSING AND VESTMENTS TO MEMBERS OF THE CLERGY.
AGBU'S HUMANITARIAN SERVICES PROVIDE AID AND COMFORT IN REPSONSE TO HARDSHIPS CAUSED BY REGIONAL & INTERNATIONAL CRISES OR NATURAL DISASTERS. THESE INCLUDE VARIOUS FORMS OF CHARITABLE SUPPORT, LIKE MEDICAL AID, FOOD DISTRIBUTION CENTERS FOR THE NEEDY AND EMERGENCY RELIEF FOR DISPLACED ARMENIANS. IN 2021, RELIEF WAS PROVIDED TO THE POPULATION OF ARMENIA AND ARTSAKH IN RESPONSE TO COVID-19 CHALLENGES, AND ESPECIALLY AFTER THE SEPT.-NOV. 2020 TRAGIC WAR AND ENSUING HUMANITARIAN CRISIS. HUMANITARIAN RELIEF AID WAS PROVIDED TO THE ARMENIAN AND LOCAL POPULATIONS IN LEBANON AFTER THE DEVASTATING EXPLOSION AT THE BEIRUT PORT OF AUGUST 2020 FOR RECOVERY AND REBUILDING EFFORTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Gitlen Chief Financial Officer | Officer | 40 | $232,850 |
Ani Susan Anserian Director Of Programs | Officer | 40 | $221,934 |
Vahe Victor Kiljian Director Of Finance | 40 | $158,305 | |
Grant Kamalyan Director Of It | 40 | $140,026 | |
Karen Aline Papazian Director- Outreach & Development | 40 | $140,007 | |
Natalie Gabrelian Director Of Alternate Education | 40 | $129,861 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Printsolutions Printing Services | 12/30/21 | $254,348 |
Envirochrome Interiors Inc Construction Contractors | 12/30/21 | $229,743 |
Tardis Llc Website Design/maintenance | 12/30/21 | $115,200 |
Friedman Llp Accountants & Business Consultants | 12/30/21 | $141,528 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $7,628 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $791,100 |
| All other contributions, gifts, grants, and similar amounts not included above | $17,396,574 |
| Noncash contributions included in lines 1a–1f | $265,221 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $18,195,302 |
| Total Program Service Revenue | $448,398 |
| Investment income | $3,341,600 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $4,216 |
| Net Rental Income | $27,965 |
| Net Gain/Loss on Asset Sales | $21,901,010 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $43,918,491 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,488,839 |
| Grants and other assistance to domestic individuals. | $505,093 |
| Grants and other assistance to Foreign Orgs/Individuals | $9,242,818 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $518,783 |
| Compensation of current officers, directors, key employees. | $343,027 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,592,250 |
| Pension plan accruals and contributions | $162,734 |
| Other employee benefits | $709,374 |
| Payroll taxes | $318,676 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $41,446 |
| Fees for services: Accounting | $106,780 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $560,025 |
| Fees for services: Other | $737,183 |
| Advertising and promotion | $45,626 |
| Office expenses | $572,956 |
| Information technology | $215,133 |
| Royalties | $0 |
| Occupancy | $774,780 |
| Travel | $49,728 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $63,558 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,478,713 |
| Insurance | $0 |
| All other expenses | $42,943 |
| Total functional expenses | $21,803,804 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $10,986,042 |
| Savings and temporary cash investments | $2,093,891 |
| Pledges and grants receivable | $1,634,977 |
| Accounts receivable, net | $565,451 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $31,414,918 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $233,017,558 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,231,295 |
| Total assets | $296,944,132 |
| Accounts payable and accrued expenses | $4,157,522 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $921,509 |
| Total liabilities | $5,079,031 |
| Net assets without donor restrictions | $23,768,039 |
| Net assets with donor restrictions | $268,097,062 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $296,944,132 |
Grants Awarded
Over the last fiscal year, Armenian General Benevolent Union has awarded $1,456,145 in support to 12 organizations.
| Grant Recipient | Amount |
|---|---|
Oakland, CA PURPOSE: EDUCATIONAL | $517,406 |
Canoga Park, CA PURPOSE: EDUCATIONAL | $355,117 |
New York, NY PURPOSE: RELIGIOUS | $256,159 |
Los Angeles, CA PURPOSE: CULTURAL | $100,000 |
Watertown, MA PURPOSE: CULTURAL | $70,088 |
Ithaca, NY PURPOSE: CULTURAL | $59,720 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Armenian General Benevolent Union has recieved totaling $133,144.
| Awarding Organization | Amount |
|---|---|
John Kazanjian Family Foundation Pennington, NJ PURPOSE: GENERAL OPERATING | $57,314 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $46,180 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $29,650 |
Endowment Analysis
| Beg. Balance | $232,189,776 |
| Earnings | $56,000 |
| Net Contributions | $5,140,818 |
| Other Expense | -$40,807,985 |
| Ending Balance | $196,578,609 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Morasha Olami Inc Lakewood, NJ | $9,487,036 | $39,914,838 |
American Friends Of Yeshiva Dmir Inc Brooklyn, NY | $9,703,912 | $39,700,022 |
Acumen Fund Inc New York, NY | $151,257,086 | $30,454,797 |
Armenian General Benevolent Union New York, NY | $296,944,132 | $43,918,491 |
Root Capital Inc Cambridge, MA | $84,001,332 | $21,396,934 |
Jerusalem Foundation Inc New York, NY | $41,082,907 | $16,301,645 |
American Society Of The University Of Haifa New York, NY | $7,655,758 | $11,239,823 |
Tibet Fund New York, NY | $8,176,885 | $9,507,647 |
Friends Of Ir David Inc New York, NY | $1,931,131 | $8,657,861 |
Yeshivas Chasidei Belz-Belz Institutions In Israel Brooklyn, NY | $1,824,863 | $9,693,412 |
United Board For Christian Higher Education In Asia New York, NY | $134,521,171 | $6,638,102 |
American Friends Of Maoz-Seal Inc Haverhill, MA | $984,752 | $8,827,434 |