ARMENIA EMPYREAN FOUNDATION: Form 990PF, tax year 2021

View the entire original 990 at ProPublica ↗

Organization
ARMENIA EMPYREAN FOUNDATION (EIN 20-8038153)
Tax period
2021-01-01 to 2021-12-31
Filed
2022-09-15
IRS object ID
202202589349100435
Schema version
2021v4.2
Source
Download XML · Original 990 at ProPublica

Every field in the e-filed return. Faint text is the IRS element name, for citing.

Return header ReturnHeader

FieldValueIRS element (for citing)
Return2022-09-15T14:54:09-05:00ReturnTs
Tax Period End2021-12-31TaxPeriodEndDt

Preparer Firm PreparerFirmGrp

Preparer Firm Name PreparerFirmName

FieldValueIRS element (for citing)
Business Name Line1FOUNDATION SOURCEBusinessNameLine1Txt

Preparer US Address PreparerUSAddress

FieldValueIRS element (for citing)
Address Line1ONE HOLLOW LN STE 212AddressLine1Txt
CityLAKE SUCCESSCityNm
State AbbreviationNYStateAbbreviationCd
ZIP11042ZIPCd
FieldValueIRS element (for citing)
Return Type990PFReturnTypeCd
Tax Period Begin2021-01-01TaxPeriodBeginDt

Filer Filer

FieldValueIRS element (for citing)
EIN208038153EIN

Business Name BusinessName

FieldValueIRS element (for citing)
Business Name Line1Armenia Empyrean FoundationBusinessNameLine1Txt
FieldValueIRS element (for citing)
In Care Of% Foundation SourceInCareOfNm
Business Name ControlRAFFBusinessNameControlTxt
Phone8008391754PhoneNum

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd

Business Officer BusinessOfficerGrp

FieldValueIRS element (for citing)
PersonRAFFI FESTEKJIANPersonNm
Person TitlePRESIDENTPersonTitleTxt
Phone8008391754PhoneNum
Signature2022-08-07SignatureDt
Discuss With Paid PreparerYes (true)DiscussWithPaidPreparerInd

Signing Officer SigningOfficerGrp

Person Full Name PersonFullName

FieldValueIRS element (for citing)
Person FirstRAFFIPersonFirstNm
Person LastFESTEKJIANPersonLastNm
FieldValueIRS element (for citing)
SSN999009999SSN

Preparer Person PreparerPersonGrp

FieldValueIRS element (for citing)
Preparer PersonJeffrey D HaskellPreparerPersonNm
PTINP01345770PTIN
Phone8008391754PhoneNum

Additional Filer Information AdditionalFilerInformation

FieldValueIRS element (for citing)
Trusted CustomerTrustedCustomerGrp
FieldValueIRS element (for citing)
Tax2021TaxYr
Build TS2023-04-26 12:10:37ZBuildTS

Form 990-PF IRS990PF

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
FMV Assets EOY$2,534,726FMVAssetsEOYAmt
Method Of Accounting CashYes (X)MethodOfAccountingCashInd

Analysis Of Revenue And Expenses AnalysisOfRevenueAndExpenses

FieldValueIRS element (for citing)
Contri Rcvd Rev And Expnss$2,598,853ContriRcvdRevAndExpnssAmt
Interest On Sav Rev And Expnss$148InterestOnSavRevAndExpnssAmt
Interest On Sav Net Invst Incm$148InterestOnSavNetInvstIncmAmt
Cap Gain Net Incm Net Invst Incm$0CapGainNetIncmNetInvstIncmAmt
Total Rev And Expnss$2,599,001TotalRevAndExpnssAmt
Total Net Invst Incm$148TotalNetInvstIncmAmt
Comp Ofcr Dir Trst Rev And Expnss$0CompOfcrDirTrstRevAndExpnssAmt
Taxes Rev And Expnss$460TaxesRevAndExpnssAmt
Other Expenses Rev And Expnss$6,120OtherExpensesRevAndExpnssAmt
Other Expenses Net Invst Incm$300OtherExpensesNetInvstIncmAmt
Other Expenses Dsbrs Chrtbl$5,820OtherExpensesDsbrsChrtblAmt
Tot Opr Expenses Rev And Expnss$6,580TotOprExpensesRevAndExpnssAmt
Tot Opr Expenses Net Invst Incm$300TotOprExpensesNetInvstIncmAmt
Tot Opr Expenses Dsbrs Chrtbl$5,820TotOprExpensesDsbrsChrtblAmt
Contri Paid Rev And Expnss$98,866ContriPaidRevAndExpnssAmt
Contri Paid Dsbrs Chrtbl$98,866ContriPaidDsbrsChrtblAmt
Total Expenses Rev And Expnss$105,446TotalExpensesRevAndExpnssAmt
Total Expenses Net Invst Incm$300TotalExpensesNetInvstIncmAmt
Total Expenses Dsbrs Chrtbl$104,686TotalExpensesDsbrsChrtblAmt
Excess Revenue Over Expenses$2,493,555ExcessRevenueOverExpensesAmt
Net Investment Income$0NetInvestmentIncomeAmt

Form990 PF Balance Sheets Form990PFBalanceSheetsGrp

FieldValueIRS element (for citing)
Sav And Temp Cash Invst BOY$42,569SavAndTempCashInvstBOYAmt
Sav And Temp Cash Invst EOY$1,525,169SavAndTempCashInvstEOYAmt
Sav And Temp Cash Invst EOYFMV$1,525,169SavAndTempCashInvstEOYFMVAmt
Corporate Stock EOY$308,343CorporateStockEOYAmt
Corporate Stock EOYFMV$306,945CorporateStockEOYFMVAmt
Corporate Bonds EOY$702,612CorporateBondsEOYAmt
Corporate Bonds EOYFMV$702,612CorporateBondsEOYFMVAmt
Total Assets BOY$42,569TotalAssetsBOYAmt
Total Assets EOY$2,536,124TotalAssetsEOYAmt
Total Assets EOYFMV$2,534,726TotalAssetsEOYFMVAmt
Total Liabilities BOY$0TotalLiabilitiesBOYAmt
Total Liabilities EOY$0TotalLiabilitiesEOYAmt
Org Does Not Follow FASB117Yes (X)OrgDoesNotFollowFASB117Ind
Retained Earning BOY$42,569RetainedEarningBOYAmt
Retained Earning EOY$2,536,124RetainedEarningEOYAmt
Tot Net Ast Or Fund Balances BOY$42,569TotNetAstOrFundBalancesBOYAmt
Tot Net Ast Or Fund Balances EOY$2,536,124TotNetAstOrFundBalancesEOYAmt
Total Liabilities Net Ast BOY$42,569TotalLiabilitiesNetAstBOYAmt
Total Liabilities Net Ast EOY$2,536,124TotalLiabilitiesNetAstEOYAmt

Chg In Net Assets Fund Balances ChgInNetAssetsFundBalancesGrp

FieldValueIRS element (for citing)
Tot Net Ast Or Fund Balances BOY$42,569TotNetAstOrFundBalancesBOYAmt
Excess Revenue Over Expenses$2,493,555ExcessRevenueOverExpensesAmt
Subtotal$2,536,124SubtotalAmt
Tot Net Ast Or Fund Balances EOY$2,536,124TotNetAstOrFundBalancesEOYAmt
FieldValueIRS element (for citing)
Cap Gains Loss Tx Invst Incm DetailCapGainsLossTxInvstIncmDetail

Excise Tax Based On Invst Incm ExciseTaxBasedOnInvstIncmGrp

FieldValueIRS element (for citing)
Investment Income Excise Tax$0InvestmentIncomeExciseTaxAmt
Subtotal$0SubtotalAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Estimated Plus Ovpmt Incm Tx$8EstimatedPlusOvpmtIncmTxAmt
Exempt Frgn Org Tax Wthld At Srce$0ExemptFrgnOrgTaxWthldAtSrceAmt
Total Payments And Credits$8TotalPaymentsAndCreditsAmt
Overpayment$8OverpaymentAmt
Applied To ES Tax$8AppliedToESTaxAmt

Statements Regarding Acty StatementsRegardingActyGrp

FieldValueIRS element (for citing)
Legislative Political ActyfalseLegislativePoliticalActyInd
More Than100 SpentfalseMoreThan100SpentInd
Form1120 POL FiledfalseForm1120POLFiledInd
Activities Not Previously RptfalseActivitiesNotPreviouslyRptInd
Changes To Articles Or BylawsfalseChangesToArticlesOrBylawsInd
Unrelated Bus Incm Over LimitfalseUnrelatedBusIncmOverLimitInd
Organization Dissolved EtcYes (true)OrganizationDissolvedEtcInd
Section508e Rqr SatisfiedYes (true)Section508eRqrSatisfiedInd
At Least5000 In AssetsYes (true)AtLeast5000InAssetsInd
Org Report Or Register StateDEOrgReportOrRegisterStateCd
Form990 PF Filed With Atty GenYes (true)Form990PFFiledWithAttyGenInd
Private Operating FoundationfalsePrivateOperatingFoundationInd
New Substantial ContributorsYes (true)NewSubstantialContributorsInd
Own Controlled EntityfalseOwnControlledEntityInd
Donor Advised FundfalseDonorAdvisedFundInd
Comply With Public Insp RqrYes (true)ComplyWithPublicInspRqrInd

Persons With Books Name PersonsWithBooksName

FieldValueIRS element (for citing)
Business Name Line1Foundation SourceBusinessNameLine1Txt
FieldValueIRS element (for citing)
Phone8008391754PhoneNum

Location Of Books US Address LocationOfBooksUSAddress

FieldValueIRS element (for citing)
Address Line1501 Silverside Road Suite 123AddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
FieldValueIRS element (for citing)
Foreign Accounts QuestionfalseForeignAccountsQuestionInd

Statements Regarding Acty4720 StatementsRegardingActy4720Grp

FieldValueIRS element (for citing)
Sale Or Exch Disqualified PrsnfalseSaleOrExchDisqualifiedPrsnInd
Brrw Or Lend Disqualified PrsnfalseBrrwOrLendDisqualifiedPrsnInd
Furn Goods Disqualified PrsnfalseFurnGoodsDisqualifiedPrsnInd
Pay Comp Disqualified PrsnfalsePayCompDisqualifiedPrsnInd
Transfer Ast Disqualified PrsnfalseTransferAstDisqualifiedPrsnInd
Payment To Government OfficialfalsePaymentToGovernmentOfficialInd
Uncorrected Prior ActsfalseUncorrectedPriorActsInd
Undistributed Income PYfalseUndistributedIncomePYInd
Business HoldingsfalseBusinessHoldingsInd
Jeopardy InvestmentsfalseJeopardyInvestmentsInd
Uncorrected PY Jeopardy InvstfalseUncorrectedPYJeopardyInvstInd
Influence LegislationfalseInfluenceLegislationInd
Influence ElectionfalseInfluenceElectionInd
Grants To IndividualsfalseGrantsToIndividualsInd
Grants To OrganizationsfalseGrantsToOrganizationsInd
Noncharitable PurposefalseNoncharitablePurposeInd
Rcv Fnds To Pay Prsnl Bnft CntrctfalseRcvFndsToPayPrsnlBnftCntrctInd
Pay Premiums Prsnl Bnft CntrctfalsePayPremiumsPrsnlBnftCntrctInd
Prohibited Tax Shelter TransfalseProhibitedTaxShelterTransInd
Subj To Tax Rmnrtn Ex Prcht PymtfalseSubjToTaxRmnrtnExPrchtPymtInd

Officer Dir Trst Key Empl Info OfficerDirTrstKeyEmplInfoGrp

Officer Dir Trst Key Empl OfficerDirTrstKeyEmplGrp

FieldValueIRS element (for citing)
PersonRaffi FestekjianPersonNm

US Address USAddress

FieldValueIRS element (for citing)
Address Line1Foundation Source 501 Silverside RdAddressLine1Txt
CityWilmingtonCityNm
State AbbreviationDEStateAbbreviationCd
ZIP198091377ZIPCd
FieldValueIRS element (for citing)
TitlePres, Dir, SecTitleTxt
Average Hrs Per Wk Devoted To Pos1.0AverageHrsPerWkDevotedToPosRt
Compensation$0CompensationAmt
Employee Benefit Program$0EmployeeBenefitProgramAmt
Expense Account Other Allwnc$0ExpenseAccountOtherAllwncAmt
FieldValueIRS element (for citing)
Summary Of Direct Chrtbl ActySummaryOfDirectChrtblActyGrp
Sum Of Program Related InvstSumOfProgramRelatedInvstGrp

Minimum Investment Return MinimumInvestmentReturnGrp

FieldValueIRS element (for citing)
Average Monthly FMV Of Sec$84,130AverageMonthlyFMVOfSecAmt
Average Monthly Cash Balances$1,269,487AverageMonthlyCashBalancesAmt
FMV All Other Noncharitable Ast$0FMVAllOtherNoncharitableAstAmt
Total FMV Of Unused Assets$1,353,617TotalFMVOfUnusedAssetsAmt
Acquisition Indebtedness$0AcquisitionIndebtednessAmt
Adjusted Total FMV Of Unused Ast$1,353,617AdjustedTotalFMVOfUnusedAstAmt
Cash Deemed Charitable$20,304CashDeemedCharitableAmt
Net Vl Noncharitable Assets$1,333,313NetVlNoncharitableAssetsAmt
Minimum Investment Return$66,666MinimumInvestmentReturnAmt

Distributable Amount DistributableAmountGrp

FieldValueIRS element (for citing)
Minimum Investment Return$66,666MinimumInvestmentReturnAmt
Tax Based On Investment Income$0TaxBasedOnInvestmentIncomeAmt
Total Tax$0TotalTaxAmt
Distributable Before Adj$66,666DistributableBeforeAdjAmt
Distributable Before Ded$66,666DistributableBeforeDedAmt
Distributable As Adjusted$66,666DistributableAsAdjustedAmt

PF Qualifying Distributions PFQualifyingDistributionsGrp

FieldValueIRS element (for citing)
Expenses And Contributions$104,686ExpensesAndContributionsAmt
Program Related Invst Total$0ProgramRelatedInvstTotalAmt
Charitable Assets Acquis Paid$0CharitableAssetsAcquisPaidAmt
Set Aside Suitability Test$0SetAsideSuitabilityTestAmt
Set Aside Cash Distri Test$0SetAsideCashDistriTestAmt
Qualifying Distributions$104,686QualifyingDistributionsAmt

Undistributed Income UndistributedIncomeGrp

FieldValueIRS element (for citing)
Distributable As Adjusted$66,666DistributableAsAdjustedAmt
Prior Year12019PriorYear1Yr
Prior Year22018PriorYear2Yr
Prior Year32017PriorYear3Yr
Excess Distribution Cyov Yr5$76,975ExcessDistributionCyovYr5Amt
Excess Distribution Cyov Yr4$66,061ExcessDistributionCyovYr4Amt
Excess Distribution Cyov Yr3$52,800ExcessDistributionCyovYr3Amt
Excess Distribution Cyov Yr2$63,336ExcessDistributionCyovYr2Amt
Excess Distribution Cyov Yr1$76,843ExcessDistributionCyovYr1Amt
Total Excess Distribution Cyov$336,015TotalExcessDistributionCyovAmt
Qualifying Distributions$104,686QualifyingDistributionsAmt
Applied To Current Year$66,666AppliedToCurrentYearAmt
Remaining Distri From Corpus$38,020RemainingDistriFromCorpusAmt
Total Corpus$374,035TotalCorpusAmt
Undistributed Income CY$0UndistributedIncomeCYAmt
Excess Distri Cyov From Yr5$76,975ExcessDistriCyovFromYr5Amt
Excess Distri Cyov To Next Yr$297,060ExcessDistriCyovToNextYrAmt
Excess From Year4$66,061ExcessFromYear4Amt
Excess From Year3$52,800ExcessFromYear3Amt
Excess From Year2$63,336ExcessFromYear2Amt
Excess From Year1$76,843ExcessFromYear1Amt
Excess From Current Year$38,020ExcessFromCurrentYearAmt
FieldValueIRS element (for citing)
Private Operating FoundationsPrivateOperatingFoundationsGrp

Supplementary Information SupplementaryInformationGrp

FieldValueIRS element (for citing)
Contributing ManagerRaffi FestekjianContributingManagerNm
Only Contri To PreselectedYes (X)OnlyContriToPreselectedInd

Grant Or Contribution Pd Dur Yr GrantOrContributionPdDurYrGrp (7 entries)

Address Line1RecipientUSAddress/AddressLine1TxtCityRecipientUSAddress/CityNmState AbbreviationRecipientUSAddress/StateAbbreviationCdZIPRecipientUSAddress/ZIPCdRecipient RelationshipRecipientRelationshipTxtRecipient Foundation StatusRecipientFoundationStatusTxtGrant Or Contribution PurposeGrantOrContributionPurposeTxtAmtAmt
100 LIVES FOUNDATION INC
439 PREBLE STS PORTLANDME04106N/APCGeneral & Unrestricted$25,000
ARMENIAN GENERAL BENEVOLENT UNION
55 E 59TH STNEW YORKNY10022N/APCGeneral & Unrestricted$200
CHILDREN OF ARMENIA FUND INC
149 5TH AVE STE 500NEW YORKNY10010N/APCGeneral & Unrestricted$5,000
NATIONAL ASSOCIATION FOR ARMENIAN STUDIES AND RESE
395 CONCORD AVEBELMONTMA02478N/APCGeneral & Unrestricted$16,666
ST MARYS UNIVERSITY OF MINNESOTA
700 TERRACE HTSWINONAMN55987N/APCGeneral & Unrestricted$10,000
VEM USA INC
400 N BRAND BLVD STE 750GLENDALECA91203N/APCGeneral & Unrestricted$12,000
YERAZART INC
32 WARWICK RDWATERTOWNMA02472N/APCGeneral & Unrestricted$30,000
FieldValueIRS element (for citing)
Total Grant Or Contri Pd Dur Yr$98,866TotalGrantOrContriPdDurYrAmt

Analysis Income Producing Acty AnalysisIncomeProducingActyGrp

FieldValueIRS element (for citing)
Fees Contracts From Govt AgFeesContractsFromGovtAgGrp
Membership Dues And AssmntMembershipDuesAndAssmntGrp

Int On Sav And Temp Cash Invst IntOnSavAndTempCashInvstGrp

FieldValueIRS element (for citing)
Exclusion14ExclusionCd
Exclusion$148ExclusionAmt
FieldValueIRS element (for citing)
Dividends And Interest From Sec DtlDividendsAndInterestFromSecDtl
Net Rntl Incm Re Debt Fincd PropNetRntlIncmReDebtFincdPropGrp
Net Rntl Incm Re Not Debt Fincd PropNetRntlIncmReNotDebtFincdProp
Net Rental Income Personal PropNetRentalIncomePersonalPropGrp
Other Investment IncomeOtherInvestmentIncomeGrp
Gain Sales Ast Oth Than InvntryGainSalesAstOthThanInvntryGrp
Net Income Loss From Special EvtNetIncomeLossFromSpecialEvtGrp
Gross Profit Loss Sls Of InvntryGrossProfitLossSlsOfInvntryGrp

Subtotals Incm Producing Acty SubtotalsIncmProducingActyGrp

FieldValueIRS element (for citing)
Exclusion$148ExclusionAmt
FieldValueIRS element (for citing)
Total Income Producing Acty$148TotalIncomeProducingActyAmt

Trnsfr Trans Rln Nonchrtbl EO TrnsfrTransRlnNonchrtblEOGrp

FieldValueIRS element (for citing)
Trnsfr Of Cash To Nonchrtbl EOfalseTrnsfrOfCashToNonchrtblEOInd
Trnsfr Other Asset Nonchrtbl EOfalseTrnsfrOtherAssetNonchrtblEOInd
Sales Or Exchanges Of AssetsfalseSalesOrExchangesOfAssetsInd
Purchase Of Assets Nonchrtbl EOfalsePurchaseOfAssetsNonchrtblEOInd
Rental Of Facilities Oth AssetsfalseRentalOfFacilitiesOthAssetsInd
Reimbursement ArrangementsfalseReimbursementArrangementsInd
Loans Or Loan GuaranteesfalseLoansOrLoanGuaranteesInd
Performance Of Services EtcfalsePerformanceOfServicesEtcInd
Sharing Of Facilities EtcfalseSharingOfFacilitiesEtcInd
Relationships Nonchrtbl EOfalseRelationshipsNonchrtblEOInd

Schedule B IRS990ScheduleB

FieldValueIRS element (for citing)
Organization501c3 Exempt PFYes (X)Organization501c3ExemptPFInd
General RuleYes (X)GeneralRuleInd

Contributor Information ContributorInformationGrp (3 entries)

ContributorContributorNumAddress Line1ContributorUSAddress/AddressLine1TxtCityContributorUSAddress/CityNmState AbbreviationContributorUSAddress/StateAbbreviationCdZIPContributorUSAddress/ZIPCdTotal ContributionsTotalContributionsAmtPerson ContributionPersonContributionIndNoncash ContributionNoncashContributionInd
Empyrean Solutions LLC
1c/o Finance Dept 304 Cambridge RdWoburnMA91801$1,165,000Yes (X)
Festekjian Raffi
24 McCall RoadWinchesterMA01890$1,010,954Yes (X)
TechVenture LLC
3c/o Finance Dept 304 Cambridge RdWoburnMA91801$422,899Yes (X)

Non Cash Property Contribution NonCashPropertyContributionGrp (12 entries)

ContributorContributorNumNoncash PropertyNoncashPropertyDescFair Market ValueFairMarketValueAmtReceivedReceivedDt
2BROADCOM INC AVGO, 58 sh.$38,7032021-12-31
2APPLE INC AAPL, 214 sh.$38,1442021-12-31
2ALPHABET INC CL A GOOGL, 9 sh.$26,2402021-12-31
2AMAZON COM AMZN, 17 sh.$57,1042021-12-31
2THERMO FISHER SCIENTIFIC INC TMO, 13 sh.$8,6822021-12-31
2NVIDIA CORP NVDA, 57 sh.$16,9182021-12-31
2MICROSOFT CORP MSFT, 285 sh.$96,2172021-12-31
2FIFTH THIRD BANCORP FITB, 604 sh.$26,3342021-12-31
2DIJA LIRNS ISSUER BNS - 118.500% - 06/2 MLVRK, 14500 sh.$192,9952021-12-31
2SX5E LIRN ISSUER BOFA - 164.100% - 06/2 MLTKO, 9000 sh.$121,3202021-12-31
2DJIA LIRN ISSUER HSBC - 116.000% - 06/2 MLTKK, 6230 sh.$110,5832021-12-31
2DJIA LIRN ISSUER WFC - 109.000% - 12/23 MLVCG, 19100 sh.$277,7142021-12-31

Depreciation Schedule DepreciationSchedule

Investments Corp Bonds Schedule InvestmentsCorpBondsSchedule

Investments Corporate Bonds InvestmentsCorporateBondsGrp (4 entries)

BondBondNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
DIJA LIRNS ISSUER BNS - 118.50$192,995$192,995
DJIA LIRN ISSUER HSBC - 116.00$110,583$110,583
DJIA LIRN ISSUER WFC - 109.000$277,714$277,714
SX5E LIRN ISSUER BOFA - 164.10$121,320$121,320

Investments Corp Stock Schedule InvestmentsCorpStockSchedule

Investments Corporate Stock InvestmentsCorporateStockGrp (8 entries)

StockStockNmEOY Book ValueEOYBookValueAmtEOYFMVEOYFMVAmt
ALPHABET INC CL A$26,240$26,073
AMAZON COM$57,104$56,684
APPLE INC$38,144$38,000
BROADCOM INC$38,703$38,594
FIFTH THIRD BANCORP$26,334$26,304
MICROSOFT CORP$96,218$95,852
NVIDIA CORP$16,918$16,764
THERMO FISHER SCIENTIFIC INC$8,682$8,674

Liquidation Explanation Stmt LiquidationExplanationStmt

FieldValueIRS element (for citing)
ExplanationAs explained below, the Foundation has no plans for dissolution. This statement is submitted to report the distribution of certain assets during the year. The distributions resulted in a substantial contraction of assets. The following information is submitted in accordance with Treasury Regulation Section 1.6043-3(a)(1) and the Form 990-PF instructions: During the taxable year ending December 31, 2021, the Foundation made distributions from assets from sources other than current income. Collectively, the distributions in excess of current income totaled $98,866. This amount represents 25% or more of the Foundation's net assets of $42,569 (as measured by fair market value) at the beginning of the Foundation's taxable year ending December 31, 2021. Although the Foundation technically experienced a substantial contraction, it will continue in existence and has no plans for dissolution. The Foundation made distributions of cash to the grantees listed in the attachment to Part XIV, Line 3a; each such grant was made solely for the charitable purpose specified therein.ExplanationTxt

Other Expenses Schedule OtherExpensesSchedule

Other Expenses Schedule OtherExpensesScheduleGrp (4 entries)

DescDescRevenue And Expenses Per BooksRevenueAndExpensesPerBooksAmtDisbursements Charitable PrpsDisbursementsCharitablePrpsAmtNet Investment IncomeNetInvestmentIncomeAmt
Administrative Fees$5,500$5,500
Bank Charges$300$300
Postage/Delivery Service$31$31
State or Local Filing Fees$289$289

Reasonable Cause Explanation ReasonableCauseExplanation

FieldValueIRS element (for citing)
ExplanationArmenia Empyrean Foundation (EIN: 20-8038153) respectfully requests abatement of any penalties for late filing of Form 990-PF for taxable year ending December 31, 2021 because the delay was inadvertent, unintended, and due to reasonable causes. Treasury Regulations Section 301.6651-1(c)(1) defines reasonable cause by asking whether the taxpayer exercised ordinary business care and prudence. The Foundation exercised care and prudence in seeking a reputable firm knowledgeable about exempt organizations to prepare its Form 990-PF for tax period ending 12/31/2021. The Foundation's 2021 Form 8868, Application for Extension of Time to File, was timely filed on May 15, 2021. The extension was originally transmitted electronically to the IRS, but was rejected because of an issue with the Business Name Control. The Foundation's Administrator corrected the issue and attempted to resubmit within the allowed 5-day correction period, but the tax software rejected the attempt citing the fact that it was past the original due date. The Foundation's Administrator contacted the software company, which acknowledged the oversight and committed to correcting the error. However, the Administrator was not able to re-transmit the updated extension request before the end of the correction period. The delay in filing Form 8868 for the taxable year ending 2021 is no fault or willful neglect of the foundation. According to the standards set forth in Rev. Proc. 92-85, we believe the Foundation's actions were reasonable and in good faith. These administrative actions were in no way an intentional disregard of the IRS rules and therefore are entitled to abatement of any penalty. The organization acted in good faith in complying with the filing deadline and in rectifying the situation as soon as it was known. Therefore, we again request that no penalty be assessed for late filing.ExplanationTxt

Substantial Contributors Sch SubstantialContributorsSch

Substantial Contributor Detail SubstantialContributorDetail (2 entries)

Address Line1USAddress/AddressLine1TxtCityUSAddress/CityNmState AbbreviationUSAddress/StateAbbreviationCdZIPUSAddress/ZIPCd
Empyrean Solutions LLC
c/o Finance Dept 304 Cambridge RdWoburnMA91801
TechVenture LLC
c/o Finance Dept 304 Cambridge RdWoburnMA91801

Taxes Schedule TaxesSchedule

Taxes Detail TaxesDetail

FieldValueIRS element (for citing)
Category990-PF Extension for 2020CategoryTxt
Amt$460Amt

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