Overview
What is Armenian Church Endowment Fund Inc?
The Armenian Church Endowment Fund Inc, located in New York, serves as a professional asset management organization for various constituent parts of the Armenian Apostolic Church. Its mission is to provide disciplined and cost-effective investment services, aiming to generate sufficient returns while preserving and enhancing the principal balance of each endowment fund. This nonprofit entity, known as ACEF, manages funds for the Diocese of the Armenian Church, individual parishes, and related entities, including St. Nersess Armenian Seminary and the Mother See of Holy Etchmiadzin. The investment objective is to distribute stable and growing income to designated beneficiaries while maintaining the fund's principal balance. ACEF invests collectively in a diversified portfolio managed by institutional investment managers.
Official website here: www.acefinvest.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 97%, Four-Star out of Four Star rating.
The Armenian Church Endowment Fund Inc has received a commendable Four-Star rating from Charity Navigator, indicating a high level of accountability and financial health. This rating is based entirely on the organization's outstanding performance in financial management, with a substantial program expense ratio of 81.61%, reflecting a strong commitment to its mission.
The fund also boasts a fully independent board, which is crucial for maintaining integrity and transparency within the organization. With 14 independent board members and no noted material diversions of assets, the organization demonstrates strong governance practices. Additionally, it has comprehensive policies in place regarding conflicts of interest, whistleblower protections, and document retention, further enhancing its accountability.
Overall, the Armenian Church Endowment Fund Inc shows a robust financial profile and commitment to ethical governance, making it a trustworthy choice for donors looking to support its mission. There are no significant limitations noted in the data, underscoring its effectiveness as a nonprofit organization.
This AI summary has been generated from information found on Charity Navigator.
Is Armenian Church Endowment Fund Inc legitimate?
Armenian Church Endowment Fund Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Armenian Church Endowment Fund 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: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $98,919
For more financial information, click here
Official website here: www.acefinvest.org
What is the mission statement of Armenian Church Endowment Fund Inc?
The Armenian Church Endowment Fund (ACEF) is a nonprofit organization with the mission to offer professional and disciplined asset management services to various entities associated with the Armenian Apostolic Church. This includes the Diocese of the Armenian Church of America (Eastern), individual parishes, mission parishes, and related entities. ACEF's investment objective is to generate sufficient returns over time to provide stable and growing income distributions to each individual endowment fund's designated beneficiary, while preserving and enhancing the principal balance of each such endowment fund. This objective is achieved by pooling the individual endowment funds and investing them collectively in a broadly diversified portfolio managed by institutional-quality investment managers.
Official website here: www.acefinvest.org
Who is the CEO of Armenian Church Endowment Fund Inc?
Gregory Zorthian is the President of Armenian Church Endowment Fund Inc.
Official website here: www.acefinvest.org
What is the revenue of Armenian Church Endowment Fund Inc?
Armenian Church Endowment Fund Inc's revenue in 2022 was -$5,279,564.
Official website here: www.acefinvest.org
Who are the executives of Armenian Church Endowment Fund Inc and what are their salaries?
There 14 volunteers at Armenian Church Endowment Fund Inc.
Here are 14 key members and their salaries:
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Official website here: www.acefinvest.org
Where can I find the form 990 for Armenian Church Endowment Fund Inc?
Armenian Church Endowment Fund Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.acefinvest.org
Learn more at the official website: www.acefinvest.org
Mission Statement of Armenian Church Endowment Fund Inc
The Armenian Church Endowment Fund (ACEF) is a nonprofit entity with a mission to offer professional, disciplined, and cost-effective asset management services to various components of the Armenian Apostolic Church. Its objective is to generate sufficient returns over time, ensuring stable and growing income distributions to the designated beneficiaries of each individual endowment fund, while preserving and enhancing the principal balance of each fund. ACEF achieves this goal by pooling individual endowment funds and investing them collectively in a broadly diversified portfolio managed by institutional-quality investment managers.
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Impact
October, 2024
The Armenian Church Endowment Fund Inc (ACEF) plays a critical role in supporting the financial sustainability of the Armenian Apostolic Church and its related entities. Through its professional asset management services, ACEF provides a disciplined and cost-effective approach to managing endowment funds, ensuring that individual parishes, mission parishes, and institutions like St. Nersess Armenian Seminary receive stable and growing income distributions over time.
By aggregating various endowment funds, ACEF leverages collective investment strategies, which enhances the potential for returns while preserving the principal balance. This strategic management not only reinforces the financial health of the churches and educational institutions but also strengthens the broader Armenian community by fostering a sense of continuity and support for cultural and religious heritage.
ACEF's commitment to professional standards and disciplined investment practices ensures that the financial resources are aligned with the long-term goals of the Armenian Church, facilitating not just immediate financial support, but sustainable growth and stability that can adapt to future challenges. In this way, ACEF significantly impacts the ability of the Armenian Church to fulfill its mission and serve its community effectively.
This information is meant to be a general summary of Armenian Church Endowment Fund 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 2022.
- Investment Income: -$5,999,067
- Program Service Revenue: $259,328
- Gross Receipts: $47,077,436
Assets and Liabilities:
- Total Assets: $135,682,703
- Total Liabilities: $54,022,349
- Net Assets: $81,660,354
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ADMIN FEE CHARGED TO CUSTODIAL FUNDS
Revenue
$259,328
Organization Details
Founding Year
2005
Phone
(212) 686-0710Principal Officer
Gregory Zorthian
Main Address
630 Second Avenue, New York, NY, 10016
Website
www.acefinvest.orgNTEE Category
Code: X90 - Religion related
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