Home For The Armenian Aged Inc
- Assets
- $591.4k
- Revenue
- $349.3k
- Investments
- $0.0
- Employees
- 78
- Location
- Emerson, NJ
- Founding
- 04/1950
- Data as of
- 03/2022
- EIN
- 22-1659501
Organization Overview
Home For The Armenian Aged Inc, operating under the name The Armenian Nursing & Rehabilitation Center Inc, is located in Emerson, NJ. The organization was established in 1950. According to its NTEE Classification (P75) the organization is classified as: Supportive Housing for Older Adults, under the broad grouping of Human Services and related organizations. As of 03/2022, Armenian Nursing & Rehabilitation Center Inc employed 78 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Armenian Nursing & Rehabilitation Center Inc 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 03/2022, Armenian Nursing & Rehabilitation Center Inc generated $349.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (35.4%) each year. All expenses for the organization totaled $460.4k during the year ending 03/2022. As we would expect to see with falling revenues, expenses have declined by (32.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATIONS EXEMPT PURPOSE IS TO PROVIDE MEDICAL AND REHABILITATION SERVICES FOR AGED AND INDIGENT PERSONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ARMENIAN NURSING AND REHABILITATION CENTER, INC. (THE ORGANIZATION) IS A NEW JERSEY NOT-FOR-PROFIT CORPORATION ESTABLISHED IN 1938. THE ORGANIZATION'S OPERATIONS INCLUDED AN 86-BED LONG-TERM CARE FACILITY PROVIDING LONG-TERM SKILLED NURSING CARE. THE REHAB CENTER CLOSED ON 3/31/21. THE ACTIVITY IN FISCAL 3/31/22 WAS DUE TO RESIDUAL CLEAN UP.CURRENTLY, THE BOARD IS WORKING ON NEW BUILDING PLANS WITH A COMBINED NY NJ BOARD. THE PLANS HAVE BEEN APPROVED BY THE BOARD. AN ENGINEERING FIRM AND LAW FIRM HAVE BEEN RETAINED TO MANAGE LAND USE AND OTHER ISSUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Epstein Administrator | Officer | 40 | $65,842 |
Arthur Bedrosian President | Trustee | 1 | $0 |
Peter Bonjuklian Treasurer | Trustee | 1 | $0 |
Khoren Bandazian ESQ Recording Secretary | Trustee | 1 | $0 |
Froonjian Dr Craig DMD Member | Trustee | 1 | $0 |
Nalbandian Matthew Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Holy Name Medical Center Rehabilitation | 3/30/16 | $110,491 |
Rehab Management Services Rehabilitation | 3/30/16 | $358,871 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $239,335 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $53,930 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $293,265 |
| Total Program Service Revenue | $56,042 |
| Investment income | $8 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $349,315 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,953 |
| Compensation of current officers, directors, key employees. | $1,953 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $102,556 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $15,016 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,246 |
| Fees for services: Accounting | $46,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,298 |
| Advertising and promotion | $37 |
| Office expenses | $6,546 |
| Information technology | $28,438 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $67 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,300 |
| Insurance | $6,996 |
| All other expenses | $17,898 |
| Total functional expenses | $460,351 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $30,255 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $307,121 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $254,060 |
| Total assets | $591,436 |
| Accounts payable and accrued expenses | $9,918 |
| 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 | $0 |
| Total liabilities | $9,918 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $581,518 |
| Total liabilities and net assets/fund balances | $591,436 |
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