Children of Armenia Fund
Meets Standards
Standards For Charity Accountability
Governance
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Board Oversight
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Board Size
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Board Meetings
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Board Compensation
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Conflict of Interest
Measuring Effectiveness
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Effectiveness Policy
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Effectiveness Report
Finances
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Program Expenses
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Fundraising Expenses
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Accumulating Funds
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Audit Report
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Detailed Expense Breakdown
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Accurate Expense Reporting
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Budget Plan
Fundraising & Info
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Truthful Materials
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Annual Report
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Website Disclosures
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Donor Privacy
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Cause Marketing Disclosures
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Complaints
Children of Armenia Fund meets the 20 Standards for Charity Accountability.
Stated Purpose:
"to secure a future for children in Armenia's impoverished rural villages through improved education, healthcare, community life and economic conditions to create and sustain opportunities for growth and progress."
Year, State Incorporated:
2000, NY
Children of Armenia Fund (COAF) reports that it focuses on improving the quality of education in rural villages in Armenia by offering opportunities for intellectual, creative, social and civic enrichment. The organization reports four key areas of concentration within the education program including revitalizing critical infrastructure, training teachers and administrators, developing extracurricular programs for children, and expanding access to technology for students. COAF states that it has expanded its SMART Rooms program, which provides access to the organization's programs through technology and communications, as well as English self-learning platforms. The organization reports that it partners with schools to implement after-school clubs, summer camps, professional training and support, debate clubs, social clubs, and English instruction. COAF promotes basic preventive and primary healthcare and provides access to medical services, including testing, diagnosis, and follow-up care, particularly for children. The organization works with local practitioners to ensure that all children receive basic primary healthcare. COAF teaches community healthcare education in the villages, offers psychological services to children and families, and applies the latest medical technologies to help fight disease in the region.
For the year ended December 31, 2022, Children of Armenia Fund's program expenses were:
Economic development: $592,580
COAF SMART Initiatives: $1,746,259
Educational: $664,466
Infrastructure: $917,927
Health: $207,096
Social programs: $309,895
Total Program Expenses: $4,438,223
Chief Executive
Haig Boyadjian, Senior Director of Development
Compensation*
$92,000
Chair of the Board
Garo H. Armen
Chair's Profession / Business Affiliation
Founder and Chairman, Agenus Inc.
Board Size
15
Paid Staff Size
0
*2021 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
Method(s) Used:
Direct mail appeals, Grant proposals, Internet, Direct mail appeals, Radio, Corporate solicitation
Fundraising costs were 8% of related contributions. (Related contributions, which totaled $5,803,253, are donations received as a result of fundraising activities.)
This organization is tax-exempt under section 501(c)(3) of the Internal Revenue Code. It is eligible to receive contributions deductible as charitable donations for federal income tax purposes.
The following information is based on Children of Armenia Fund's audited financial statements for the year ended December 31, 2022.
Source of Funds
| Gain on investments | $401,614 |
| Contributions | $5,803,253 |
| Interest and other income | $37,478 |
| Total Income | $5,154,219 |
Programs: 72% Fundraising: 7% Administrative: 21%
| Total Income | $5,154,219 |
| Total expenses: | $6,191,289 |
| Program expenses | $4,438,223 |
| Fundraising expenses | $462,260 |
| Administrative expenses | $1,290,806 |
| Other expenses | $0 |
| Income in Excess of Expenses | $-1,037,070 |
| Beginning Net Assets | $13,668,360 |
| Other Changes In Net Assets | $0 |
| Ending Net Assets | $12,631,290 |
| Total Liabilities | $12,843,437 |
| Total Assets | $22,901,095 |
debts.
An organization may change its practices at any time without notice. A copy of this report has been shared with the organization prior to publication. It is not intended to recommend or deprecate, and is furnished solely to assist you in exercising your own judgment. If the report is about a charity and states the charity meets or does not meet the Standards for Charity Accountability, it reflects the results of an evaluation of information and materials provided voluntarily by the charity. The name Better Business Bureau is a registered service mark of the International Association of Better Business Bureaus.
This report is not to be used for fundraising or promotional purposes.
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Standards Not Met
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Review in Progress
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Unable to Verify
Report completed by:
BBB Wise Giving Alliance