Richard Dermenjian Charitable Trust
- Assets
- $1.4m
- Revenue
- $288.3k
- Investments
- $1.3m
- Employees
- 0
- Location
- Media, PA
- Founding
- 04/2009
- Data as of
- 12/2021
- EIN
- 26-6607162
Organization Overview
Richard Dermenjian Charitable Trust is located in Media, PA. The organization was established in 2009. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Richard Dermenjian Charitable Trust 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, Richard Dermenjian Charitable Trust generated $288.3k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 25.0% each year . All expenses for the organization totaled $58.9k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Richard Dermenjian Charitable Trust has awarded 60 individual grants totaling $240,500. 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
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAKING OF EDUCATIONAL SCHOLARSHIPS TO WORTHY STUDENTS THROUGH-OUT THE UNITED STATES. DURING 2021, SCHOLARSHIPS WERE AWARDED TO 15 STUDENTS ATTENDING 12 DIFFERENT SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Reverend Nerses Manoogian Trustee | 1 | $6,000 | |
K Kirk Karagelian Trustee | 1 | $6,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $0 |
| Interest on Savings | $2 |
| Dividends & Interest | $35,402 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $252,883 |
| Capital Gain Net Income | $252,883 |
| Net ST Capital Gain | $0 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $288,287 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $12,000 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $29 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,214 |
| Total operating and administrative expenses | $15,943 |
| Contributions, gifts, grants paid | $43,000 |
| Total expenses and disbursements | $58,943 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $97,047 |
| Savings and temporary cash investments | $0 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $1,036,424 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $0 |
| Total assets | $1,355,062 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
Grants Awarded
Over the last fiscal year, Richard Dermenjian Charitable Trust has awarded $43,000 in support to 15 organizations.
| Grant Recipient | Amount |
|---|---|
MARK MELKUMYAN PURPOSE: COLLEGE SCHOLARSHIP | $4,500 |
NAREEN BABAIAN PURPOSE: COLLEGE SCHOLARSHIP | $4,000 |
CONNOR CAMPBELL PURPOSE: COLLEGE SCHOLARSHIP | $3,500 |
LAURA VARTANOV PURPOSE: COLLEGE SCHOLARSHIP | $3,500 |
GARABED MINASSIAN PURPOSE: COLLEGE SCHOLARSHIP | $3,500 |
KRISITINA VARTANOV PURPOSE: COLLEGE SCHOLARSHIP | $3,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Selz Foundation New York, NY | $142,395,054 | $24,456,334 |
Rita Allen Foundation Princeton, NJ | $219,012,203 | $23,878,841 |
Jacob And Hilda Blaustein Foundation Inc Baltimore, MD | $130,688,531 | $27,779,767 |
The Derfner Foundation New York, NY | $158,472,968 | $13,106,656 |
Jill Roberts Charitable Foundation Inc Garden City, NY | $11,485 | $9,710,793 |
James And Merryl Tisch Foundation Inc New York, NY | $1,291,425 | $11,020,609 |
Tortuga Foundation New York, NY | $110,168,381 | $33,186,414 |
Clark-Winchcole Foundation Bethesda, MD | $197,708,650 | $12,024,655 |
The Joseph H Flom Foundation New York, NY | $6,836,169 | $3,314,736 |
Head & Heart Foundation Tr Wilmington, DE | $258,907,072 | $16,871,801 |
The Applebaum Foundation Inc New York, NY | $229,643,281 | $16,929,047 |
Deutsche Bank Americas Foundation New York, NY | $38,867,163 | $11,020,529 |