2024-05-13T13:05:20-05:00 2023-06-30 366055558 GRANT THORNTON LLP 75 STATE STREET 13TH FLOOR BOSTON MA 02109 990 2022-07-01 943140704 AMERICAN UNIVERSITY OF ARMENIA CORPORATION AMER 5109254282 1111 FRANKLIN STREET OAKLAND CA 94607 DR BRUCE BOGHOSIAN PRESIDENT 5109254288 2024-05-13 1 DR BRUCE BOGHOSIAN 999009999 0 ERIN COUTURE P01390592 6177237900 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DR BRUCE BOGHOSIAN 1111 FRANKLIN STREET OAKLAND CA 94607 11082160 0 X WWW.AUA.AM X 1992 CA SUPPORT OF THE EDUCATIONAL AND RESEARCH ACTIVITIES OF THE AMERICAN UNIVERSITY OF ARMENIA (AUA). 26 24 11 28 39272 0 6024559 6792194 13866 26921 1938696 3491580 6000 39514 7983121 10350209 3197841 4433135 0 0 915070 1301998 0 0 630421 1487862 2680045 5600773 8415178 2382348 1935031 116830325 122863230 52561 44576 116777764 122818654 SUPPORT OF THE EDUCATIONAL AND RESEARCH ACTIVITIES OF THE AMERICAN UNIVERSITY OF ARMENIA (AUA). 0 0 5838846 4433135 26921 THE AMERICAN UNIVERSITY OF ARMENIA CORPORATION ("AUAC") IS A CALIFORNIA NOT-FOR-PROFIT CORPORATION. AUAC PROVIDES RESOURSES TO THE AMERICAN UNIVERSITY OF ARMENIA FOR EDUCATIONAL PURPOSES INCLUDING USE OF SEVERAL PROPERTIES IN ARMENIA OWNED BY AUAC. THE UNIVERSITY IS OPERATED IN YEREVAN ARMENIA BY THE AMERICAN UNIVERSITY OF ARMENIA FUND ("AUAF"), A NON-PROFIT ENTITY ORGANIZED UNDER THE LAWS OF THE REPUBLIC OF ARMENIA. THE PURPOSE OF AUA IS TO PROVIDE UNIVERSITY EDUCATION, RESEARCH AND PUBLIC SERVICE IN ACCORDANCE WITH THE AMERICAN SYSTEM AND STANDARDS OF HIGHER EDUCATION. ENROLLMENT IS OPEN ON A NONDISCRIMINATORY BASIS TO STUDENTS FROM ARMENIA AND OTHER REGIONS OF THE WORLD. 5838846 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 1 0 1 1 1 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 3 0 1 11 1 1 1 1 AM 0 0 0 0 0 0 0 0 0 0 X 26 24 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X LILIA DARBINIAN 5109254288 1111 FRANKLIN STREET OAKLAND CA 94607 DR KARIN MARKIDES PRESIDENT (THRU 12/22) 30.00 30.00 X X 191529 149999 4191 DR HAROUTUNE ARMENIAN TRUSTEE 12.00 0.00 X 68400 0 0 DR LAWRENCE PITTS CHAIRMAN 1.00 0.00 X X 0 0 0 PAUL AGBABIAN TRUSTEE (AS OF 9/22) 1.00 0.00 X 0 0 0 MR ZAVEN AKIAN TRUSTEE 1.00 0.00 X 0 0 0 MS SUZY MISSIRIAN ANTOUNIAN TRUSTEE 1.00 0.00 X 0 0 0 FR MESROP ARAMIAN TRUSTEE 1.00 0.00 X 0 0 0 MS CAROL B ASLANIAN TRUSTEE 1.00 0.00 X 0 0 0 MR EDWARD AVEDISIAN TRUSTEE (THRU 12/22) 1.00 0.00 X 0 0 0 GRAIG AVEDISIAN TRUSTEE (AS OF 4/23) 1.00 0.00 X 0 0 0 MR HOVHANNES AVOYAN TRUSTEE 1.00 0.00 X 0 0 0 DR GEORGE BLUMENTHAL TRUSTEE 1.00 0.00 X 0 0 0 PAUL BOGHOSSIAN TRUSTEE (AS OF 9/22) 1.00 0.00 X 0 0 0 MR YERVANT DEMIRJIAN TRUSTEE 1.00 0.00 X 0 0 0 DR WILLIAM FRAZER TRUSTEE 1.00 0.00 X 0 0 0 MR ADAM KABLANIAN TRUSTEE 1.00 0.00 X 0 0 0 DR ANN KARAGOZIAN TRUSTEE 1.00 0.00 X 0 0 0 DR ARMEN DER KIUREGHIAN INTERIM PRESIDENT (AS OF 12/22) 30.00 30.00 X 12500 11765 0 MS LORI MUNCHERIAN TRUSTEE 1.00 0.00 X 0 0 0 MS LENA SARKISSIAN TRUSTEE 1.00 0.00 X 0 0 0 DR BARBARA SAWREY TRUSTEE 1.00 0.00 X 0 0 0 MR BERGE SETRAKIAN ESQ TRUSTEE 1.00 0.00 X 0 0 0 CHRISTINE SIMONE TRUSTEE (AS OF 1/23) 1.00 0.00 X 0 0 0 MR SINAN SINANIAN TRUSTEE 1.00 0.00 X 0 0 0 MR VASKEN YACOUBIAN TRUSTEE 1.00 0.00 X 0 0 0 MS LUCINE YEGHIAZARYAN TRUSTEE 1.00 0.00 X 0 0 0 MS VERONIKA ZONABEND TRUSTEE 1.00 0.00 X 0 0 0 DR YERVANT ZORIAN TRUSTEE 1.00 0.00 X 0 0 0 GEVORG GOYUNYAN CFO/TREASURER 15.00 45.00 X 31011 81561 0 DR CAREN MEGHREBLIAN SECRETARY 20.00 0.00 X 63434 0 0 MS GAYANE KHACHATRYAN VP OF DEVELOPMENT 40.00 0.00 X 119938 0 0 486812 243325 4191 2 0 1 0 0 1498775 409057 4884362 46805 6792194 SPONSORED RESEARCH 900099 26921 26921 26921 1339266 39272 1299994 2835579 683265 2152314 2152314 2152314 88200 1498775 48686 39514 39514 10350209 26921 39272 3491822 4433135 4433135 641647 609565 32082 549577 87247 76855 385475 35724 6631 29093 75050 5233 40558 29259 81762 81762 23214 23204 10 122446 28898 93548 78525 78525 51383 11750 38639 994 662484 658636 3848 36089 36089 BAD DEBTS 800000 800000 MATERIALS TO AUA 393893 393893 DUES AND SUBSCRIPTION 126079 119897 6182 RECRUITING 110679 110679 193491 129055 10658 53778 8415178 5838846 1945911 630421 347787 319534 3461075 3708270 4158601 3738225 188359 189158 24650074 8615317 16115386 16034757 2394 2483 92157839 98445453 398884 425350 116830325 122863230 52561 44576 0 0 52561 44576 X 30238132 26397057 86539632 96421597 116777764 122818654 116830325 122863230 X 1935031 4008397 97462 X 0 1 X 1 0 X 4403131 6222170 13828652 6024559 6792194 37270706 4403131 6222170 13828652 6024559 6792194 37270706 20040387 17230319 600936 483297 695883 482051 1339266 3601433 45000 6000 88200 139200 41011339 711181 0.42010 0.36700 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS FUNDRAISING - 2019 AMOUNT: $ 45,000. 2022 AMOUNT: $ 88,200. EMPLOYEE RETENTION CREDIT - 2021 AMOUNT: $ 6,000. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 89474777 1730354 7415661 3642569 94978223 94204737 5545115 -7341970 2933105 89474777 66409702 7634701 22833386 2673052 94204737 61813430 3860014 3219060 2482802 66409702 57524529 1681523 4839377 2231999 61813430 0.06000 0.66000 0.28000 1 0 3758867 3758867 15850810 4203304 11647506 604186 357790 246396 3892086 3555442 336644 544125 498781 45344 16034757 USAID ENDOWMENT 16127632 F VARIOUS ENDOWMENTS 82317821 F 98445453 X 14384106 4008397 25500 4033897 10350209 0 10350209 8440678 25500 25500 8415178 0 8415178 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS ENDOWMENT FUNDS ARE TO BE USED FOR THE ONGOING SUPPORT OF PROGRAMS OF THE AMERICAN UNIVERSITY OF ARMENIA. AUAC ANNUALLY BUDGETS APPROPRIATIONS OF ENDOWED FUNDS TO MEET ITS OPERATING NEEDS. APPROPRIATIONS CONSIST OF SPECIFIC SCHOLARSHIP OR RESEARCH GRANT AWARDS AS PROVIDED BY THE DONOR AGREEMENT. AUAC FOLLOWS AN ALL-INCOME DISTRIBUTION POLICY ON ITS ENDOWMENT THAT CURRENTLY APPROXIMATES TO 4.75% OF SIXTY MONTH ROLLING AVERAGE OF THE ENDOWMENT VALUE. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE AUAC FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGE BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. AUAC IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. AUAC HAS ALSO BEEN RECOGNIZED BY THE FRANCHISE TAX BOARD AS AN ORGANIZATION THAT IS EXEMPT FROM INCOME TAX PURSUANT TO CALIFORNIA REVENUE AND TAX CODE SECTION 23701D ON ITS INCOME OTHER THAN UNRELATED BUSINESS INCOME. AUAC HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT WAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. AUAC HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. 1 RUSSIA AND NEIGHBORING STATES 0 0 GRANTMAKING 4433135 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES TRAVEL, MISC. EXPENSES 393893 0 0 0 0 0 0 4827028 0 4827028 RUSSIA AND NEIGHBORING STATES FUND SCHOOL SCHOLARSHIP 4433135 WIRE 0 1 0 0 0 0 0 0 0 PART I, LINE 2: PROCESS FOR MONITORING THE USE OF GRANT FUNDS OUTSIDE THE UNITED STATES THE PRIMARY GRANTEE IS THE AMERICAN UNIVERSITY OF ARMENIA FUND (AUAF). AUAC IS THE FOUNDER OF AUAF. GRANTS TO AUAF ARE SUBSTANTIATED BY ANNUAL BUDGETS AND MONTHLY REPORTS. THE SCHOLARSHIP PROGRAMS ARE ADMINISTERED BY AUA AND RECORDS OF EACH GRANTEE ARE MAINTAINED WITH THE SCHOLARSHIP COMMITTEE. PART I, LINE 3: AUAC ACCOUNTS FOR EXPENDITURES USING THE ACCRUAL METHOD. PART III ACCOUNTING METHOD: BUILD A BETTER FUTURE 1586975 1498775 88200 4718 11366 23831 3200 5571 1586975 1498775 88200 4718 11366 23831 3200 5571 48686 39514 X X 1 1 X X X 0 0 0 0 0 0 0 0 1 1 DR KARIN MARKIDES PRESIDENT (THRU 12/22) 142055 149999 0 0 49474 0 0 0 4191 0 195720 149999 0 0 PART I, LINE 1A: TRAVEL FOR COMPANION SINCE THE UNIVERSITY HAS ITS PRESENCE BOTH IN ARMENIA AND IN THE U.S., FREQUENT TRAVEL TO ARMENIA AND BACK TO THE U.S. IS A BUSINESS NECESSITY. THEREFORE, AUAC PAID FOR THE CURRENT PRESIDENT AND, ON OCCASION, THEIR FAMILY TO TRAVEL TO AND FROM ARMENIA FOR WORK DIRECTLY RELATED TO THEIR POSITION AS PRESIDENT IN ACCORDANCE WITH THE ESTABLISHED POLICIES. THESE TRAVEL BENEFITS PROVIDED TO THE PRESIDENT WERE TAXABLE AND REPORTED IN OTHER REPORTABLE COMPENSATION IN SCHEDULE J, PART II, COLUMN (B)(III). TAX GROSS-UP PAYMENTS THE ORGANIZATION PROVIDED THE CURRENT PRESIDENT A GROSS-UP PAYMENT FOR THEIR TAXABLE RETIREMENT BENEFITS, WHICH IS ALSO REPORTED IN OTHER REPORTABLE COMPENSATION IN SCHEDULE J, PART II, COLUMN (B)(III). PART I, LINE 8: AUAC ENTERED INTO AN INITIAL CONTRACT WITH DR. KARIN MARKIDES IN HER ROLE AS PRESIDENT. THE CONTRACT WAS REVIEWED AND APPROVED WITH CONTEMPORANEOUS DOCUMENTATION BY THE AUAC EXECUTIVE COMMITTEE OF THE BOARD ON 04/19/2019. X 7 26000 FMV X 2250 FMV X 2 8555 FMV 0 1 0 PART I, COLUMN (B): EXPLANATION OF NONCASH CONTRIBUTIONS AUAC REPORTS THE NUMBER OF CONTRIBUTIONS RECEIVED IN COLUMN B. FORM 990, PART VI, SECTION A, LINE 1A ACCORDING TO THE AUAC BOARD OF TRUSTEE BYLAWS, THE AUAC EXECUTIVE COMMITTEE OF THE BOARD FUNCTIONS AS A STANDING COMMITTEE OF THE BOARD OF TRUSTEES. IN COMPLIANCE WITH THE BYLAWS, THE EXECUTIVE COMMITTEE IS COMPRISED OF NINE (9) TO ELEVEN (11) TRUSTEES. THERE ARE NO COMMITTEE MEMBERS WHO ARE NOT MEMBERS OF THE BOARD OF TRUSTEES. AS PRESCRIBED BY THE BYLAWS, THE EXECUTIVE COMMITTEE MAY EXERCISE ALL THE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS AND AFFAIRS OF THE CORPORATION BETWEEN MEETINGS OF THE BOARD, BUT AS STIPULATED BY THE BYLAWS, IS NOT AUTHORIZED TO FILL BOARD OR COMMITTEE VACANCIES; AMEND OR REPEAL BOARD RESOLUTIONS, BYLAWS OR ARTICLES OF INCORPORATION AND MAY NOT BIND THE CORPORATION TO ANY CONTRACT OR AGREEMENT WHICH MAY CREATE LIABILITY FOR AN AMOUNT BEYOND THE AUTHORIZED BUDGET ABOVE AN AMOUNT SET BY THE BOARD FROM TIME TO TIME. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S FORM 990 WAS PREPARED BY A NATIONAL ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCE DEPARTMENT. THE FORM 990 IS PROVIDED TO THE ORGANIZATION'S BOARD OF TRUSTEES BEFORE IT IS FILED. AFTER THE PRESIDENT AND TREASURER APPROVE THE RETURN, IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE AMERICAN UNIVERSITY OF ARMENIA CORPORATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. THE BOARD HAS ADOPTED A CONFLICT OF INTEREST POLICY AND AN ASSOCIATED REPORTING FORM. TRUSTEES AND TOP MANAGEMENT ARE REQUESTED TO REVIEW AND SIGN THE FORM ANNUALLY. THE SIGNED FORMS ARE REVIEWED FOR POTENTIAL CONFLICT OF INTEREST BY THE CHAIRMAN OF THE BOARD OF TRUSTEES, ACCORDING TO THE DEFINITIONS OF CONFLICT OF INTEREST SPECIFIED IN ARTICLE II OF THE CONFLICT OF INTEREST POLICY. IN MAKING A CONFLICT OF INTEREST DETERMINATION, THE CHAIRMAN "MAY CONSULT WITH OTHER MEMBERS OF THE BOARD OF TRUSTEES AS THE CHAIRMAN DEEMS APPROPRIATE". IF THE CHAIRMAN DETERMINES THAT A CONFLICT OF INTEREST EXISTS, IN ACCORDANCE WITH ARTICLE III PROCEDURES OF THE AMERICAN UNIVERSITY OF ARMENIA CONFLICT OF INTEREST POLICY, THE CHAIRMAN APPOINTS A DISINTERESTED PERSON OR A COMMITTEE TO "INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT." A RECORD OF ALL DISINTERESTED PARTY DISCUSSIONS, DETERMINATIONS, NAMES OF THOSE INVOLVED AND APPEALS ARE KEPT. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION DETERMINATION FOR THE PRESIDENT INCLUDED THE USE OF COMPARABILITY DATA, REVIEW AND APPROVAL BY THE AUAC EXECUTIVE COMMITTEE OF THE BOARD AND CONTEMPORANEOUS RECORDKEEPING OF DELIBERATIONS AND DECISIONS. CURRENTLY, THE EXECUTIVE COMMITTEE DOUBLES AS THE COMPENSATION COMMITTEE. THE BOARD IS COMPRISED OF INDEPENDENT PERSONS WITH THE EXCEPTION OF PRESIDENT WHO SERVES AS A MEMBER OF THE BOARD OF TRUSTEES AND THE EXECUTIVE COMMITTEE IN AN EX OFFICIO CAPACITY BUT WHO DOES NOT TAKE PART IN THE COMPENSATION REVIEW AND APPROVAL PROCESS. COMPARISON DATA FOR LIKE UNIVERSITIES, E.G., OTHER "AMERICAN UNIVERSITIES OF...", WERE PROVIDED BY KORN-FERRY, AN EXECUTIVE SEARCH FIRM OFTEN INVOLVED WITH EXECUTIVE SEARCHES FOR "AMERICAN UNIVERSITIES OF..." FORM 990, PART VI, SECTION B, LINE 15B: HIRING AND SALARY DECISIONS OF TOP MANAGEMENT OFFICIALS ARE REVIEWED BY THE BOARD. THERE IS ALSO A PAY SCALE IN PLACE FOR THE ARMENIA STAFF AND THE HUMAN RESOURCE OFFICE IN ARMENIA DOES PERIODIC SURVEYS FOR STAFF POSITION SALARIES PREVAILING IN ARMENIA. FORM 990, PART VI, SECTION C, LINE 19 AUAC MAKES AVAILABLE TO THE PUBLIC ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: CURRENCY TRANSLATION ADJUSTMENT 97,462. AMERICAN UNIVERSITY OF ARMENIA FUND 40 BAGRAMIAN AVENUE YEREVAN AM 0019 EDUCATION AM AUAC 1 HYBUSINESS INC 1111 FRANKLIN STREET OAKLAND CA 94607 880359775 RENTAL NV AUAC C 39272 463846 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 AMERICAN UNIVERSITY OF ARMENIA FUND B 4433135 COST