2011-05-03T08:19:38-05:00 2010-12-31 WithumSmithBrown PC 1 SPRING STREET NEW BRUNSWICK NJ 08901 990 2010-01-01 202821426 ARMENIAN CHURCH ENDOWMENT FUND INC ARME 2126860710 630 SECOND AVENUE NEW YORK NY 10016 BRUCE BALLARD 2011-03-31 true Joyce Mayeresky 7328281614 2010 2016-02-24 21:20:13Z MARK GABRELLIAN 630 SECOND AVENUE New York NY 10016 6680019 false X N/A X 2005 DE Armenian Church Endowment Fund supports parishes and individuals who are creating a legacy through endowments with long-term investment planning and by investing as a community for maximum financial return. 12 12 0 0 0 364108 687446 146679 199935 -619127 1174135 0 0 -108340 2061516 2153483 2066698 0 0 92205 92639 0 0 0 325995 786844 2571683 2946181 -2680023 -884665 72399675 78951811 24889755 27683353 47509920 51268458 X THE ARMENIAN CHURCH ENDOWMENT FUND (ACEF) IS AN INDEPENDENT NONPROFIT ENTITY WHOSE MISSION IS TO PROVIDE PROFESSIONAL, HIGHLY DISCIPLINED, TIGHTLY CONTROLLED AND COST EFFECTIVE ASSET MANAGEMENT SERVICES TO VARIOUS CONSITUENT PARTS OF THE ARMENIAN APOSTOLIC CHURCH, INCLUDING THE DIOCESE OF THE ARMENIAN CHURCH OF AMERICA (EASTERN), THE INDIVIDUAL PARISHES, MISSION PARISHES AND RELATED ENTITIES OF THE DIOCESE, AS WELL AS TO ST. NERSESS ARMENIAN SEMINARY AND THE MOTHER SEE OF HOLY ETCHMIADZIN. THE INVESTMENT OBJECTIVE OF ACEF IS TO EARN SUFFICIENT RETURNS THROUGH TIME TO SUPPORT STABLE AND GROWING INCOME DISTRIBUTIONS FROM EACH INDIVIDUAL ENDOWMENT FUND TO IT'S DESIGNATED BENEFICIARY, WHILE PRESERVING AND ENHANCING THE PRINCIPAL BALANCE OF EACH SUCH ENDOWMENT FUND. ACEF SEEKS TO ACCOMPLISH THIS OBJECTIVE BY AGGREGATING THE INDIVIDUAL ENDOWMENT FUNDS AND INVESTING THEM COLLECTIVELY IN A BROADLY DIVERSIFIED PORTFOLIO MANAGED BY INSTITUTIONAL QUALITY IN INVESTMENT MANAGERS. false false 2366698 2066698 PROVIDE CHURCHES AND NOT-FOR-PROFIT ORGANIZATIONS WITH DISTRIBUTIONS AND ALLOCATIONS TO ACHIEVE A CONSISTENT LEVEL INCOME FOR THEIR OPERATIONS 2366698 true true false false false false false true true false true false false true true true false false false true true false false false false false false true false false false false false false false false false false false false false false false true false false false false true 5 0 true 0 false false false false false false false false false false X 12 12 false false false false false false false true true false false true true true true true true false false false NY X MICHAEL HALAJIAN 2126860710 630 SECOND AVENUE NEW YORK NY 10016 X ARCHBISHOP KHAJAG BARSAMIAN 1.0 X X 0 0 0 MARK GABRELLIAN 4.0 X X 0 0 0 GREGORY ZORTHIAN 3.0 X X 0 0 0 BRUCE BALLARD 2.0 X X 0 0 0 GREGORY PARSEGHIAN 4.0 X X 0 0 0 HAIG ARIYAN 2.0 X 0 0 0 RICHARD ASLANIAN 2.0 X 0 0 0 HAIG DERANIAN 1.0 X 0 0 0 STEPHEN HARATUNIAN 2.0 X 0 0 0 CHARLES SIMONIAN 1.0 X 0 0 0 OSCAR TATOSIAN 1.0 X 0 0 0 ALYSSA KELESHIAN BONOMO 1.0 X 0 0 0 0 0 0 0 false false false CAMBRIDGE ASSOCIATES 100 SUMMER STREET BOSTON MA 02110 INVEST CONSULTING 111864 1 56172 631274 687446 ADMINISTRATIVE FEE CHARGED TO CUSTODIAL FUNDS 199935 199935 199935 1452979 1452979 0 0 4339659 4618503 -278844 -278844 0 0 0 0 2061516 199935 1452979 1677944 1677944 0 388754 388754 0 0 0 77604 77604 0 0 8938 8938 6097 6097 0 1600 1600 110217 110217 0 0 258866 258866 53772 53772 100 100 9270 9270 0 0 36000 36000 3493 3493 0 275 275 0 0 0 11809 11809 OTHER EXPENSES 310 310 FILING FEES 1132 1132 BAD DEBT EXPENSE 300000 300000 2946181 2366698 579483 0 22530 61931 16901785 9536533 331024 118370 413558 419094 20035695 29391064 34695083 39424819 72399675 78951811 15425 36506 24754838 27531873 119492 114974 24889755 27683353 X -1330188 -573303 3575073 6189280 45265035 45652481 47509920 51268458 72399675 78951811 X -884665 4643203 X false true true X false X X X X false false false DIOCESE OF THE ARMENIAN CHURCH IN AMERICA EASTERN 131628202 01 true true true 1587811 1 1587811 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true 47422330 387446 5811207 1919212 96597 432481 51172693 42672780 364108 6903040 2004604 94794 418200 47422330 59943029 970037 -15808992 2032339 135650 263305 42672780 0.97000 0.03000 false false HEDGE FUNDS 7624429 F NATURAL RESOURCES 5756103 F VENTURE CAPITAL 2961106 F REAL ESTATE 1290686 F COLLATERAL INVESTMENT FUND 0 F US BOND FUND 21792495 F 39424819 0 CHARITABLE REMAINDER ANNUITIES 114974 114974 2061516 2946181 -884665 4638685 4518 4643203 3758538 6354314 4638685 4518 4643203 1711111 350405 350405 2061516 2595776 2595776 350405 350405 2946181 ENDOWMENT FUNDS SCHEDULE D, PART V ACEF HAS A POLICY OF DISTRIBUTIING EACH YEAR FOUR AND A HALF PERCENT OF ITS ENDOWMENT FUND'S AVERAGE FAIR VALUE OVER THE PRIOR 12 QUARTERS THROUGH THE CALENDAR YEAR END OF THE PRECEEDING FISCAL YEAR IN WHICH THE DISTRIBUTION IS PLANNED TO THE BENEFICIARY AGENCY DESIGNATED BY THE DONOR. FIN 48 SCHEDULE D, PARY X, QUESTION 2 ACEF is exempt from Federal income taxes under Section 501(c)(3) of the Internal Revenue Code. Accordingly, no provision for Federal income tax has been recorded in the statements of activities and changes in net assets. ACEF adopted the pronouncement related to income taxes effective January 1, 2009 and there were no uncertain tax positions at the date of adoption or at December 31, 2010. There are no open tax years prior to 2007. RECONCILIATION OF EXPENSES SCHEDULE D, PART XIII, 4D IN THE FINANCIAL STATEMENTS, THERE IS $300,000 NETTED AGAINST REVENUES FOR LOSS DUE TO UNCOLLECTED PLEDGES. THIS AMOUNT IS BEING SHOWN AS BAD DEBT EXPENSE ON THE FORM 990. Addtionally, there is $50,405 of investment expenses that were netted in the financial statements that have been grossed up for presentation in the Form 990. RECONCILIATION OF CHANGE IN NET ASSETS SCHEDULE D, PART XI, 8 THE FINANCIAL STATEMENTS INCLUDE AN ADJUSTMENT FOR THE NET PRESENT VALUE OF ANNUITIES OF $4,518 THAT IS NOT SHOWN AS REVENUE IN THE FORM 990. RECONCILIATION OF REVENUE SCHEDULE D, PART XII, 2D THE INVESTMENT FEES THAT ARE PROPORTIONALLY CHARGED TO THE CUSTODIAL INVESTMENT FUNDS OF $50,405 WERE NETTED AGAINST THE RELATED INVESTMENT FEES EXPENSE IN THE FINANCIAL STATEMENT. THESE FEES HAVE BEEN INCLUDED AS ADMINISTRATIVE FEE REVENUE FOR THE PRESENTATION IN THE FORM 990. RECONCILIATION OF REVENUE SCHEDULE D, PART XII, 4B IN THE FINANCIAL STATEMENT, THERE IS $300,000 NETTED AGAINST REVENUES FOR LOSS DUE TO UNCOLLECTED PLEDGES. THIS AMOUNT IS BEING SHOWN AS BAD DEBT EXPENSE ON THE FORM 990. true 398504 Russia GENERAL SUPPORT 61816 CHECK Russia GENERAL SUPPORT 50880 CHECK Russia GENERAL SUPPORT 50902 CHECK Russia GENERAL SUPPORT 58436 CHECK Russia GENERAL SUPPORT 39235 CHECK Russia GENERAL SUPPORT 36624 CHECK Middle East/North Africa GENERAL SUPPORT 55973 CHECK Middle East/North Africa GENERAL SUPPORT 27467 Check Russia PROGRAMS 9750 CHECK 9 false false false false false false GRANTS OUTSIDE OF THE US MONITORING SCHEDULE F THE DISTRIBUTIONS MADE TO BENEFICIARY ORGANIZATIONS OUTSIDE OF THE U.S. ARE BASED ON A CALCULATION OF FOUR AND A HALF PERCENT OF EACH RESPECTIVE ENDOWMENT FUND'S AVERAGE FAIR VALUE OVER THE PRIOR 12 QUARTERS. THE FUNDS RECEIVED ARE UTILIZED BY THE ORGANIZATION TO BENEFIT THE VARIOUS PROGRAMS PROVIDED. THE ARMENIAN CHURCH IS FAMILIAR WITH THE OPERATIONS OF THESE ORGANIZATIONS. true DIOCESE OF THE ARMENIAN CHURCH OF AMERICA (EASTERN 630 SECOND AVENUE NEW YORK NY 10016 131628202 501(C)(3) 860514 PROGRAMS ST JAMES ARMENIAN CHURCH 465 MT AUBURN STREET WATERTOWN MA 02472 131628202 501(C)(3) 25669 PROGRAMS HOLY TRINITY ARMENIAN APOSTOLIC CHURCH 145 BRATTLE ST CAMBRIDGE MA 02138 042167475 501(C)(3) 17546 PROGRAMS ARMENIAN CHURCH OF OUR SAVIOR 87 SALISBURY ST WORCESTER MA 01609 042192685 501(C)(3) 10673 PROGRAMS HOLY MARTYRS ARMENIAN CHURCH 209-15 HORACE HARDING EXPWY BAYSIDE NY 11364 111819339 501(C)(3) 13080 PROGRAMS HOLY CROSS CHURCH OF AMERICA 580W 187TH ST NEW YORK NY 10033 131679607 501(C)(3) 47303 PROGRAMS ST THOMAS ARMENIAN CHURCH PO BOX 53 TENAFLY NJ 07670 221657923 501(C)(3) 8594 PROGRAMS ST MARY ARMENIAN CHURCH 220 W MT PLEASANT AVE LIVINGSTON NJ 07039 222571494 501(C)(3) 5102 PROGRAMS HOLY TRINITY ARMENIAN APOSTOLIC CHURCH 101 ASHMEAD RD CHELTENHAM PA 19012 231405611 501(C)(3) 8685 PROGRAMS ST GREGORY THE ENLIGHTENER ARMENIAN CHURCH 1131 NORTH ST WHITE PLAINS NY 10605 237346244 501(C)(3) 36114 PROGRAMS ST DAVID ARMENIAN CHURCH 2300 YAMATO RD BOCA RATON FL 33431 591918817 501(C)(3) 7995 PROGRAMS ST MARY ARMENIAN APOSTOLIC CHURCH 4125 FESSENDEN ST NW WASHINGTON DC 20016 911861915 501(C)(3) 54493 PROGRAMS ST NERSESS ARMENIAN SEMINARY 150 STRATTON RD NEW ROCHELLE NY 10804 510198454 501(C)(3) 239056 PROGRAMS FUND FOR ARMENIAN RELIEF 630 SECOND AVE NEW YORK NY 10016 133706646 501(C)(3) 92775 PROGRAMS HOLY MARTYRS ARMENIAN DAY SCHOOL 209-15 HORACE HARDING EXPWY BAYSIDE NY 11364 112492685 501(C)(3) 110382 PROGRAMS ACYOA 630 SECOND AVE NEW YORK NY 10016 131628202 501(C)(3) 14332 PROGRAMS ST JOHN BAPTIST ARMENIAN CHURCH 7825 W LAYTON CHURCH MILWAUKEE WI 53220 391504886 501(C)(3) 15903 PROGRAMS ST LEON ARMENIAN CHURCH 12-61 SADDLE RIVER RD FAIRLAWN NJ 07410 226168135 501(C)(3) 27210 PROGRAMS 100 GRANTS IN THE US MONITORING SCHEDULE I THE DISTRIBUTIONS MADE TO ORGANIZATIONS IN THE US ARE BASED ON A CALCULATION OF FOUR AND A HALF PERCENT OF THE ASSOCIATED ENDOWMENT FUND'S AVERAGE FAIR VALUE OVER THE PRIOR 12 QUARTERs. THE FUNDS RECEIVED ARE UTILIZED BY THE ORGANIZATION TO BENEFIT THE VARIOUS PROGRAMS PROVIDED. THE ARMENIAN CHURCH OVERSEES THE OPERATIONS OF ALL OF THE CHURCHES AND IS FAMILIAR WITH THESE ORGANIZATIONS. GOVERNING BODY AND MANAGEMENT PART VI SECTION B #11 FORM 990 IS REVIEWED BY THE TREASURER OF THE BOARD AND APPROVED BY THE EXECUTIVE COMMITTEE BEFORE SUBMISSION. DISCLOSURE PART VI SECTION C #19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MAINTAINED ACEF'S OFFICE AND IS AVAILABLE TO THE PUBLIC UPON REQUEST. POLICIES PART VI SECTION B #12C ACEF Conflict of Interest policy is provided to each Director at the beginning of the year. Each Director completes and returns the Conflicts of Interest Questionnaire and the signed acknowledgment. The Administrator reviews the completed forms to verify that no conflict of interest exists. COMPENSATION PART IX, LINE 7 AN AFFILIATE CHARGES ACEF ON A MONTHLY BASIS FOR THE ENTIRE SALARY OF ONE INDIVIDUAL AND 50% OF THE SALARY FOR TWO OTHER INDIVIDUALS. ACEF REIMBURSES THE AFFILIATE ON A MONTHLY BASIS. THE AFFILIATE FILES AND PAYS ALL THE REQUIRED EMPLOYMENT FILINGS AND PAYROLL TAXES AND CHARGES ACEF FOR THESE EXPENSES AS WELL AS OTHER FRINGE BENEFITS. ACEF DOES NOT FILE ANY EMPLOYMENT RETURNS DIRECTLY AS A RESULT. DIOCESE OF THE ARMENIAN CHURCH IN AMERIC 630 SECOND AVENUE NEW YORK NY 10016 131628202 DIOCESE NY 501(C)(3) 509(A)(1) NA false true true false false false false false false false false false true true false false false false DIOCESE OF THE ARMENIAN CHURCH OF AMERICA B 860514 DIOCESE OF THE ARMENIAN CHURCH OF AMERICA C 56172 DIOCESE OF THE ARMENIAN CHURCH OF AMERICA M 36000 DIOCESE OF THE ARMENIAN CHURCH OF AMERICA N 77604