Armenia Fund Inc

What it reported doing in 2024

1. Noyemberyan medical center - $138,051funded the complete renovation and reconstruction of the infections department of the noyemberyan medical center, located in the tavush region of armenia. Mere kilometers from the border, the noyemberyan medical center is a vital center for wounded servicemen to receive immediate treatment. This phase of the project included upgrades to the earthquake resistance of the building, replacing the asbestos slate roof to metal, building a new foundation for thebuilding, installing heating throughout the building, rebuilding the internal sewage system of the building, and upgrading the electrical infrastructure of the center. This program was completed in february 2024.2. Yerevan state university student tuition assistance - $100,000in collaboration with the western diocese of the armenian church, armenia fund committed to assist with the tuition of students at yerevan state university in armenia. The subsidization of these students' tuitions will allow them to continue their higher education.3. Day care center for mentally handicapped adults - $93,773in this program, armenia fund, inc. Supported the operations and expansion of a day care center, "way to happiness NGO," which serves adults ages 18-64 who are living with autism and other mental handicaps. The beneficiaries reside in the center, where they also receive professional care and cognitive exercises. The goal of the project is to give these individuals the skills and tools to establish their own independence and self-sufficiency through practical skills such as cooking, gardening, and the arts.4. World vision armenia - $65,000world vision is a global humanitarian organization with an office in armenia which provides psychological and civic support services to children and adolescents in remote village communities. Following the forced displacement of refugees from artsakh to armenia in september 2023, armenia fund began collaborating with world vision armenia to ensure that children and families who settled in these remote villages would receive the psychosocial protection and treatment services they required. The communities served by this project include: noyemberyan, ijevan, talin, aparan and sisian.5. "sun" children center - $55,000armenia fund, inc. Provides support to the "sun children" center based in yerevan. The center is one of the few year-round, free of charge, professional care centers for children with down syndrome in armenia. Around eighty children living with down syndrome receive the following treatments and services at the center: physical therapy, play therapy, psychotherapy, occupational therapy, and speech therapy, all from licensed therapists. The center also organizes recitals and variety shows, in which the children are able to express their creativity and form meaningful connections.6. Armenian cultural advancement programs - $30,000this program is a multi-pronged approach to advance the preservation and promotion of armenian art and culture. In 2024, the program consisted of three separate initiatives: (i) supporting the team armenia basketball program by funding them in the amount of $20,000 for the purpose of covering travel fees for international tournaments and for the development of under-18 youth training programs. (ii) $10,000 was allocated to the cultural impact foundation to assist with the production of the film "faces of persecution genocide 2.0: artsakh ethnic cleansing."7. Hayordi - $29,580hayordi is an NGO located in yerevan, armenia, which focuses its efforts on children who have lost their fathers and/or other family members during the recent military conflicts in the region of artsakh. Armenia fund sponsored the hayordi summer camp initiative, which gave 300 children who were forcibly displaced from their homes in artsakh the opportunity to participate in daily group activities, educational programs, and traditional cultural events for the summer.8. "michel odent mother center" NGO - $10,000a

Financial Efficiency

• Mission deployment rate: 70.8%; rating input score 71
• Program expense ratio: 65.8%; rating input score 66
• Fundraising efficiency: $3.45 raised per $1 spent on fundraising; rating input score 10; 10th percentile among comparable filings

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 0 of 6 controls in place; rating input score 0
  • Compensation committee: Missing
  • Independent consultant: Missing
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Missing
• Foreign activity oversight: Scored; rating input score 0
• Grant itemization coverage: Scored; rating input score 0
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 7 of 8 controls in place; rating input score 88
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Fail
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 4.2%; rating input score 48; 48th percentile among comparable filings
• Total-asset coverage ratio: 17.62; rating input score 95; 95th percentile among comparable filings
• Liabilities to assets ratio: 0; rating input score 93; 93rd percentile among comparable filings
• Officer compensation ratio: 7.2%; rating input score 40; 40th percentile among comparable filings

Growth

• Program expense growth: 14.3% per year; rating input score 100; 76th percentile among comparable filings
• Revenue growth: 13% per year; rating input score 100; 77th percentile among comparable filings
• Asset growth: 26.6% per year; rating input score 100; 91st percentile among comparable filings