named programs · 2 · from sources
What they call their work
Endowment Distribution Program
Distributes 4.5% of assets annually (based on a 12-quarter rolling average) to designated beneficiaries to support operations, building maintenance, education, and cultural preservation
Pooled Investment Management
Aggregates individual endowment funds into a diversified portfolio managed by institutional-quality investment managers to achieve stronger returns and risk mitigation for participating parishes and entities
activities · 1 group
What they do
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Endowment and Gift Fund Management 4 activities
- Funds diocesan and parish programs through endowment distributionsProvides financial support to the Diocese, parishes, and related entities of the Armenian Apostolic Church by distributing funds from pooled endowments, with $6.4 million distributed to beneficiaries in 2024 based on a rolling average of the past 12 quarters' market value. The organization has distributed 4.5% of assets annually to beneficiaries for twenty consecutive years.
- Manages pooled endowment investments for parishes and related entitiesAggregates individual endowment funds and invests them in a broadly diversified portfolio, managing $152 million in assets as of December 31, 2024. Provides professional asset management services to parishes and related entities of the Diocese of the Armenian Church, with a history of growing the fund from $1.8 million in 1979 to $140 million by 2023.
- Provides stable income distributions from endowmentsGenerates stable and growing income distributions from individual endowment funds to designated beneficiaries while preserving and enhancing principal balances. Conducts annual independent audits and provides annual fund reports to endowment guardians.
- Supports legacy planning through endowment establishmentAssists parishes and individuals in establishing endowments as part of legacy planning, managing 2,100 endowed funds to increase financial returns and mitigate risk.
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financials · form 990 · fy2024
revenue
Total revenue$11.64M
Contributions & grants$1.66M14%
Program service revenue$313K3%
Investment income$9.67M83%
Other revenue$0
expenses
Total expenses$4.23M
Program expenses83%
Admin / overhead17%
Fundraising0%
Salaries & benefits$180K
Grants paid out$3.43M
Largest expense lineProfessional Fees
balance sheet
Total assets$151.68M
Cash$4.09M
Investments$147.58M
Liabilities$58.97M
Net assets$92.71M
Liquid reserves430.5 mo
3 years on record · 2020–2024 · YoY revenue +166.8%
leadership · form 990 part vii · fy2024
Who runs it
paid leadership · 1
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| Lisa A Kazanjian | Executive Director | 32 | $65K |
board members · 13
- Bishop Mesrop Parsamyan — PRESIDENT
- Bryan Stepanian — Director
- Elizabeth Shaghalian Vranka — DIRECTOR
- Eric Baroyan — Director
- Gregory J Amerkanian — Director
- Gregory Melconian — Treasurer
- Gregory Zorthian — Chair
- Kirk Kazazian — DIRECTOR
- Kirk S Hachigian — Director
- Marie A Vanerian — DIRECTOR
- Melanie Dadourian — Director
- Richard Papalian — Director
- Robert E Cannuscio — Secretary
relationships · 11
Who they work with
- Armenian Church (Diocesan programs and parishes) Partner — ACEF supports Diocesan programs, parishes, and affiliated organizations through distributions from endowments.
- Berjouhi Saladin Partner — Administration Director serving as contact for annual report distribution.
- Diocesan Council Partner — Collaborates with the Diocesan Council through shared board membership, including the Chairman of Diocesan Council as an ex-officio board member.
- Diocese of the Armenian Apostolic Church Government — Primate of the Diocese of the Armenian Apostolic Church serves as President of the ACEF Board.
- Diocese of the Armenian Apostolic Church Partner — Receives financial support through pooled investment oversight.
- Diocese of the Armenian Church Partner — Provides asset management services to parishes and related entities of the Diocese.
- Eastern Diocese of the Armenian Church of America Government — ACEF is completely independent of the Eastern Diocese of the Armenian Church of America, indicating a formal distinction from this affiliated religious body.
- Greg Zorthian Partner — Former Chairman of ACEF’s Board of Directors and son of founder Barry Zorthian.
- Melanie Dadourian Partner — Former Communications Committee Chair and granddaughter of founder Dadour Dadourian.
- Parishes of the Armenian Apostolic Church Partner — Receives financial support through pooled investment oversight.
- St. Vartan Armenian Cathedral Partner — Initial capital for ACEF derived from funds remaining after construction of St. Vartan Armenian Cathedral in New York City.
strategies · 3
How they approach the work
Named approaches extracted from this org’s sources. Where others share an approach, follow it to see the full set of orgs running it.
- Collective Investment for Scale and Diversificationmethodology: collective_investment_modelBy pooling endowment funds from multiple parishes and individuals into a large, diversified portfolio, the organization achieves economies of scale and access to high-quality investment opportunities, because aggregation reduces risk, lowers fees, and enhances long-term returns beyond what smaller, isolated endowments could achieve.
- Perpetual Endowment Model with Sustainable Distributionmethodology: perpetual_endowment_modelBy preserving the principal of endowments and distributing only a portion of returns—calculated via a rolling average of past market performance—the organization ensures stable, long-term funding for parishes and programs in perpetuity, because smoothing distributions protects against market volatility and sustains impact across generations.
- Professional Stewardship with Segregated Accountabilitymethodology: financial_stewardshipThrough professional asset management and independent advisory oversight, while maintaining segregated accounting for each endowment, the organization ensures both high-performance investment strategies and donor-specific accountability, because centralized expertise maximizes returns without compromising the designated purpose or ownership integrity of individual funds.