Overview
What is Fund For Armenian Relief Inc?
Fund for Armenian Relief Inc, headquartered in New York, is a dedicated nonprofit organization focused on aiding the economic and social development of Armenia. Their mission is multifaceted, encompassing short-term emergency relief and long-term initiatives to foster growth and progress in the nation. They prioritize supporting the most vulnerable segments of society, namely children and the elderly. By implementing various programs, Fund for Armenian Relief Inc empowers these populations, enabling them to lead dignified lives and contribute positively to their communities and the world at large. The organization's ultimate vision is to establish an equitable, sustainable, and resilient Armenian homeland, where individuals can thrive through equal access to opportunities for education, healthcare, and decent employment. With a small workforce of four individuals, they strive to make significant, progressive contributions to the betterment of Armenia and its people.
Official website here: www.farusa.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 100% (Four-Star out of Four Star rating)
Fund For Armenian Relief Inc has received an outstanding Four-Star rating from Charity Navigator, reflecting its exceptional performance across various metrics. The organization boasts perfect scores in Accountability & Finance, Impact & Measurement, and Leadership & Adaptability, indicating a strong commitment to transparency and effective governance. The independent board is comprised of 95% members, showcasing a robust oversight structure and enhancing the organization's credibility.
The charity demonstrates impressive financial health, with a low liabilities to assets ratio of 0.43% and a program expense ratio of 87.51%, signifying that the majority of its funds are directed towards its mission. Additionally, it maintains excellent fundraising efficiency, requiring only $0.03 to raise a dollar, which highlights its effective resource management. The organization also emphasizes impact, showing that its programs significantly increase income for scholarship recipients.
Moreover, Fund For Armenian Relief Inc has proven its adaptability in challenging circumstances, such as the COVID-19 pandemic and the conflict in Artsakh. It has invested in leadership development, enhancing its operational effectiveness and ensuring that it can continue to meet its community's needs. Overall, this nonprofit is recognized for its substantial impact and sound management practices, making it a commendable choice for donors looking to support effective charitable efforts.
This AI summary has been generated from information found on Charity Navigator.
Is Fund For Armenian Relief Inc legitimate?
Fund For Armenian Relief Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fund For Armenian Relief Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $266,233
Professional Fundraising Fees: $0
Other Salaries and Wages: $907,704
For more financial information, click here
Official website here: www.farusa.org
What is the mission statement of Fund For Armenian Relief Inc?
The Fund for Armenian Relief Inc is committed to honoring the past, empowering the present, and ensuring a prosperous future for individuals in Armenia. Their mission is to extend hope, guidance, and opportunities to those in need, enabling them to improve their current circumstances and pave the way for a stronger future. The organization's vision is to establish an equitable, sustainable, and resilient Armenian homeland, where people can lead dignified lives, accessing opportunities for education, healthcare, and decent work. They strive to help the most vulnerable segments of the population, primarily children and the elderly, and equip professionals to lead their newly independent nation. The Fund for Armenian Relief Inc provides short-term emergency relief and implements long-term programs to foster economic growth and social development in Armenia.
Official website here: www.farusa.org
What is the revenue of Fund For Armenian Relief Inc?
Fund For Armenian Relief Inc's revenue in 2023 was $8,556,205.
Official website here: www.farusa.org
Who are the executives of Fund For Armenian Relief Inc and what are their salaries?
The average compensation at Fund For Armenian Relief Inc during 2023 was $391,312. There are 3 employees and 19 volunteers at Fund For Armenian Relief Inc.
Here are 22 key members and their salaries:
- Compensation: $136,000
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- Other: $0
- Compensation: $72,733
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Official website here: www.farusa.org
Where can I find the form 990 for Fund For Armenian Relief Inc?
Fund For Armenian Relief Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.farusa.org
Learn more at the official website: www.farusa.org
Mission Statement of Fund For Armenian Relief Inc
The Fund for Armenian Relief Inc is committed to honoring the past, empowering the present, and ensuring a promising future for individuals in Armenia. This nonprofit organization aims to provide hope, guidance, and opportunities to those in need, enabling them to construct a better present and pave the way for a stronger future. The Fund for Armenian Relief Inc's vision is to establish an equitable, sustainable, and resilient Armenian homeland where people can lead dignified lives, with universal access to opportunities for personal growth through education, healthcare, and decent work. By focusing on the most vulnerable segments of the population, namely children and the elderly, the nonprofit prepares professionals to lead their newly independent country. The Fund for Armenian Relief Inc is dedicated to providing short-term emergency relief and implementing long-term programs for the economic growth and social development of Armenia, ultimately contributing to the betterment of local communities and the world at large.
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Impact
October, 2024
Fund For Armenian Relief Inc plays a crucial role in enhancing the lives of vulnerable populations in Armenia, focusing primarily on children and the elderly. Through its initiatives, FAR addresses immediate needs by providing short-term emergency relief during crises while simultaneously implementing long-term programs aimed at fostering economic growth and social development.
One of the key impacts of FAR is its commitment to empowering individuals through access to education, healthcare, and decent work opportunities. By investing in economic development programs, FAR not only enhances the quality of life but also paves the way for individuals to realize their full potential. This empowerment contributes to the establishment of a sustainable and resilient Armenian homeland, where communities can thrive and actively participate in the fabric of a progressive nation.
FAR’s vision extends beyond immediate assistance; it seeks to cultivate a future where all individuals lead dignified lives, having equitable access to opportunities. By preparing professionals and addressing the needs of the most vulnerable, FAR plays a vital role in shaping a stronger future for Armenia and its people. Through its comprehensive approach, FAR is ensuring that the history and culture of Armenia are honored, while simultaneously nurturing a hopeful and empowered present.
This information is meant to be a general summary of Fund For Armenian Relief Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $325,954
- Program Service Revenue: $168,305
- Gross Receipts: $16,806,871
Assets and Liabilities:
- Total Assets: $25,112,155
- Total Liabilities: $108,268
- Net Assets: $25,003,887
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
USAID PROGRAM INCOME
Revenue
$166,509
BCPP PROGRAM INCOME
Revenue
$1,796
Organization Details
Founding Year
1993
Principal Officer
Garnik Nanagoulian
Website
www.farusa.orgNTEE Category
Code: Q300 - International
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