2022-09-15T14:54:09-05:00 2021-12-31 FOUNDATION SOURCE ONE HOLLOW LN STE 212 LAKE SUCCESS NY 11042 990PF 2021-01-01 208038153 Armenia Empyrean Foundation % Foundation Source RAFF 8008391754 Foundation Source 501 Silverside Rd Wilmington DE 198091377 RAFFI FESTEKJIAN PRESIDENT 8008391754 2022-08-07 true RAFFI FESTEKJIAN 999009999 Jeffrey D Haskell P01345770 8008391754 2021 2023-04-26 12:10:37Z X 2534726 X 2598853 148 148 0 2599001 148 0 460 6120 300 5820 6580 300 5820 98866 98866 105446 300 104686 2493555 0 42569 1525169 1525169 308343 306945 702612 702612 42569 2536124 2534726 0 0 X 42569 2536124 42569 2536124 42569 2536124 42569 2493555 2536124 2536124 0 0 0 8 0 8 8 8 false false false false false false true true true DE true false true false false true Foundation Source 8008391754 501 Silverside Road Suite 123 Wilmington DE 198091377 false false false false false false false false false false false false false false false false false false false false false Raffi Festekjian Foundation Source 501 Silverside Rd Wilmington DE 198091377 Pres, Dir, Sec 1.0 0 0 0 84130 1269487 0 1353617 0 1353617 20304 1333313 66666 66666 0 0 66666 66666 66666 104686 0 0 0 0 104686 66666 2019 2018 2017 76975 66061 52800 63336 76843 336015 104686 66666 38020 374035 0 76975 297060 66061 52800 63336 76843 38020 Raffi Festekjian X 100 LIVES FOUNDATION INC 439 PREBLE ST S PORTLAND ME 04106 N/A PC General & Unrestricted 25000 ARMENIAN GENERAL BENEVOLENT UNION 55 E 59TH ST NEW YORK NY 10022 N/A PC General & Unrestricted 200 CHILDREN OF ARMENIA FUND INC 149 5TH AVE STE 500 NEW YORK NY 10010 N/A PC General & Unrestricted 5000 NATIONAL ASSOCIATION FOR ARMENIAN STUDIES AND RESE 395 CONCORD AVE BELMONT MA 02478 N/A PC General & Unrestricted 16666 ST MARYS UNIVERSITY OF MINNESOTA 700 TERRACE HTS WINONA MN 55987 N/A PC General & Unrestricted 10000 VEM USA INC 400 N BRAND BLVD STE 750 GLENDALE CA 91203 N/A PC General & Unrestricted 12000 YERAZART INC 32 WARWICK RD WATERTOWN MA 02472 N/A PC General & Unrestricted 30000 98866 14 148 148 148 false false false false false false false false false false X X 1 Empyrean Solutions LLC c/o Finance Dept 304 Cambridge Rd Woburn MA 91801 1165000 X 2 Festekjian Raffi 4 McCall Road Winchester MA 01890 1010954 X 3 TechVenture LLC c/o Finance Dept 304 Cambridge Rd Woburn MA 91801 422899 X 2 BROADCOM INC AVGO, 58 sh. 38703 2021-12-31 2 APPLE INC AAPL, 214 sh. 38144 2021-12-31 2 ALPHABET INC CL A GOOGL, 9 sh. 26240 2021-12-31 2 AMAZON COM AMZN, 17 sh. 57104 2021-12-31 2 THERMO FISHER SCIENTIFIC INC TMO, 13 sh. 8682 2021-12-31 2 NVIDIA CORP NVDA, 57 sh. 16918 2021-12-31 2 MICROSOFT CORP MSFT, 285 sh. 96217 2021-12-31 2 FIFTH THIRD BANCORP FITB, 604 sh. 26334 2021-12-31 2 DIJA LIRNS ISSUER BNS - 118.500% - 06/2 MLVRK, 14500 sh. 192995 2021-12-31 2 SX5E LIRN ISSUER BOFA - 164.100% - 06/2 MLTKO, 9000 sh. 121320 2021-12-31 2 DJIA LIRN ISSUER HSBC - 116.000% - 06/2 MLTKK, 6230 sh. 110583 2021-12-31 2 DJIA LIRN ISSUER WFC - 109.000% - 12/23 MLVCG, 19100 sh. 277714 2021-12-31 DIJA LIRNS ISSUER BNS - 118.50 192995 192995 DJIA LIRN ISSUER HSBC - 116.00 110583 110583 DJIA LIRN ISSUER WFC - 109.000 277714 277714 SX5E LIRN ISSUER BOFA - 164.10 121320 121320 ALPHABET INC CL A 26240 26073 AMAZON COM 57104 56684 APPLE INC 38144 38000 BROADCOM INC 38703 38594 FIFTH THIRD BANCORP 26334 26304 MICROSOFT CORP 96218 95852 NVIDIA CORP 16918 16764 THERMO FISHER SCIENTIFIC INC 8682 8674 As 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. Administrative Fees 5500 5500 Bank Charges 300 300 Postage/Delivery Service 31 31 State or Local Filing Fees 289 289 Armenia 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. Empyrean Solutions LLC c/o Finance Dept 304 Cambridge Rd Woburn MA 91801 TechVenture LLC c/o Finance Dept 304 Cambridge Rd Woburn MA 91801 990-PF Extension for 2020 460