Foundation of the New York Armenian Home Inc

Analysis

Foundation of the New York Armenian Home Inc is a registered charity in United States, based in Forest Hills, NY. It received its IRS tax-exemption ruling in November 2019, 7 years ago. Its declared purposes cover philanthropy, voluntarism and grantmaking foundations, which this site groups under grant-making and general purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Foundation of the New York Armenian Home Inc reported income of $1.5m and spending of $126k, leaving 92% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $200k to $1.5m (+664%), an average of +97% a year. The sharpest change came in the year to December 2021, when income rose by 17698%. Over the whole period it spent 1.4% of the income it received.

Among 19,413 United States charities whose main cause is grant-making and general purposes and that reported income, Foundation of the New York Armenian Home Inc sits at the 85th percentile: it is larger than about 85% of them. Against every charity in United States with reported income it ranks in the 84th percentile, and in the 80th percentile within NY. Charities of a similar size with the same main cause include Ashland Area Foundation ($1.5m), United Way of Howard County Inc ($1.5m) and Gary Patterson Foundation ($1.5m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 51% of the total. At year end it held assets of $37.4m against liabilities of $0, net assets of $37.4m.