BBB Wise Giving Report for
Children of Armenia Fund

BBB Wise Giving Report issued July 2009
BBB Wise Giving Report expires February 2012


This BBB Accredited charity meets all 20 Standards for Charity Accountability and is a Seal Holder. Find out more...


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Charity Contact Information

Name: Children of Armenia Fund
Address: 162 Fifth Avenue, Suite 900
  New York, NY 10010
Phone: 212-994-8234
Web Address: www.coafkids.org
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BBB Wise Giving Alliance Comments

Year, State Incorporated: 2000, New York
Affiliates: COAF-Armenia
Stated Purpose: "to reverse the impoverished conditions affecting significant numbers of Armenia’s children by revitalizing Armenia’s villages and implementing projects that provide immediate and sustainable benefits to children and youth."

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Evaluation Conclusions

               

Children of Armenia Fund (CAF) meets the 20 Standards for Charity Accountability.
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Programs

               

CAF focuses on revitalizing rural areas by employing a grounds-up approach to address the critical needs of children, as well as to establish economic development activities that enable people to acquire the skills needed to help themselves. CAF’s partnerships with the United Nations Development Programme (UNDP), United States Agency for International Development (USAID) and the World Bank, along with other local and international organizations, has allowed the organization to channel financial resources into programs in one of the most economically disadvantaged regions of the world.

For the year ended December 31, 2007, CAF's program expenses were:

  
Program Services 3,043,803
Total Program Expenses: $3,043,803
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Child Sponsorship

               

For approximately $1 per day sponsors will be able to enrich the lives of children in rural villages of Armenia. Sponsors receive a photo and a biography of a representative child. Contributions will be pooled with other donor’s gifts and will be used to provide health care, nutritious foods, and education for village children, while the entire community will benefit from access to clean water, agricultural assistance, and medical care.

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Governance

               

Chief Executive : Arpie G. Balian, DPA, Country Director
Compensation*:
 $100,000

Chair of the Board: Garo H. Armen, Ph.D.
Chair's Profession / Business Affiliation: Chairman and Chief Executive Officer, Antigenics Inc.

Board Size: 9

Paid Staff Size: 2

*2007 compensation includes annual salary and, if applicable, benefit plans, expense accounts, and other allowances.
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Fund Raising

               

Method(s) Used:

Direct mail, special events, print advertisements, radio, grant proposals, Internet appeals, and planned giving.
Fund raising costs were 7% of related contributions. (Related contributions, which totaled $3,793,382, are donations received as a result of fund raising activities.)
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Tax Status

               

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.
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Financial

               

The following information is based on CAF's audited (combined with affiliate) financial statements for the year ended December, 31 2007.

Source of Funds  
Fundraising benefit (net) 3,284,156
Contributions 509,226
Interest Income 30,330
Unrealized loss on investments -1,791
Realized loss on investments -6,448
Exchange rate loss -10,478
Total Income $3,804,995


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Uses of Funds as a % of Total Expenses

Programs: 90%  Fund Raising: 8%  Administrative: 2% 

Total income   $3,804,995
  Program expenses $3,043,803
  Fund raising expenses 265,120
  Administrative expenses 51,478
 
Total expenses   $3,360,401
Income in Excess of Expenses   444,594
Beginning net assets   2,627,781
Ending net assets   3,072,375
Total liabilities   240,761
Total assets   $3,313,136


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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 BBB 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 Council of Better Business Bureaus, Inc.

This report is not to be used for fund raising or promotional purposes.

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