| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| LESSER, LEFF & CO LLP | 11,150 | 2,400 | 8,750 |
| Identifier | Return Reference | Explanation |
|---|---|---|
| PART XV - SUPPLEMENTARY INFORMATION | PART XV - SUPPLEMENTARY INFORMATION:THE SELECTION PROCESS - CANDIDATES FOR GRANTS:THERE SHALL BE NO DISCRIMINATION BASED UPON RACE, CREED, COLOR, RELIGION OR GENDER. IN ADDITION, A VERY IMPORTANT (BUT NOT MANDATORY) CONSIDERATION WILL BE WHETHER THE APPLICANT IS THE NATURAL OR ADOPTIVE CHILD, GRANDCHILD OR GREAT-GRANDCHILD OF AN ARMENIAN AND/OR EASTERN EUROPEAN PARENT, GRANDPARENT, OR GREAT-GRANDPARENT. GRANT APPLICANTS WILL ALSO BE CALLED UPON TO MAKE NONBINDING MORAL COMMITMENTS TO ASSIST NEEDY STUDENTS IN THE FUTURE IF THEY ARE EVER IN A POSITION TO DO SO.NO DIRECT SOLICITATION OF APPLICANTS WILL BE MADE. THE AVAILABILITY OF GRANTS FROM THE FOUNDATION WILL BE COMMUNICATED TO CERTAIN SCHOOLS AND PROFESSORS WITH WHICH THE FOUNDATION'S FOUNDERS HAVE HAD DEALINGS ON THE PAST AND TO OTHER SCHOLARSHIP ORGANIZATIONS FOR THE BENEFIT OF STUDENTS OF ARMENIAN AND OF / EASTERN EUROPEAN EXTRACTION. THE SCHOLARS ARE AVAILABLE FOR ANY COURSE OF STUDY AT AN APPROVED INSTITUTION. SELECTION OF GRANT RECIPIENTS MUST BE BASED ON PERFORMANCE ON STANDARDIZED TESTS, RECOMMENDATIONS, FINANCIAL NEED AND CONCLUSIONS DRAWN FROM PERSONAL INTERVIEWS BY MEMBERS OF THE FOUNDATION AS TO MOTIVATION AND CHARACTER.THE SELECTION OF THE INDIVIDUAL GRANT RECIPIENTS WILL BE MADE ANNUALLY BY A SELECTION COMMITTEE CONSISTING OF NO FEWER THAN THREE FOUNDATION TRUSTEES. |
| Category/ Item | Listed at Cost or FMV | Book Value | End of Year Fair Market Value |
|---|---|---|---|
| MUTUAL FUNDS | FMV | 16,372,552 | 16,372,552 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| HUGHES HUBBARD & REED LLP | 1,818 | 0 | 1,818 | |
| HELLER & ROBBINS | 5,063 | 0 | 5,063 |
| Description | Beginning of Year - Book Value | End of Year - Book Value | End of Year - Fair Market Value |
|---|---|---|---|
| PREPAID TAXES | 11,922 | 4,841 | 4,841 |
| PREPAID EXPENSES | 7,969 | 0 | 0 |
| RENT SECURITY DEPOSIT | 875 | 875 | 875 |
| Description | Amount |
|---|---|
| UNREALIZED DECREASE IN F.M.V. OF INVESTMENTS | 2,102,103 |
| Description | Revenue and Expenses per Books | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| TELEPHONE AND INTERNET | 4,147 | 0 | 4,147 | |
| POSTAGE | 547 | 0 | 547 | |
| COMPUTER EXPENSES AND WEBSITE | 6,493 | 0 | 6,493 | |
| OFFICE SUPPLIES AND MISCELLANEOUS ITEMS | 5,522 | 0 | 5,522 | |
| BANK CUSTODIAL CHARGES | 1,752 | 1,752 | 0 | |
| UTILITIES | 18,886 | 0 | 18,886 | |
| INSURANCE | 8,252 | 0 | 8,252 | |
| FILING FEES | 1,000 | 0 | 1,000 | |
| REPAIRS AND MAINTENANCE | 12,345 | 0 | 12,345 |
| Description | Beginning of Year - Book Value | End of Year - Book Value |
|---|---|---|
| PAYROLL TAXES PAYABLE | 796 | 0 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| INVESTMENT FEES | 50,000 | 50,000 | 0 | |
| CONSULTING FEES | 125,600 | 0 | 125,600 |
| Category | Amount | Net Investment Income | Adjusted Net Income | Disbursements for Charitable Purposes |
|---|---|---|---|---|
| FOREIGN TAXES ON DIVIDENDS | 10,019 | 10,019 | 0 | |
| FEDERAL EXCISE TAX | 7,081 | 0 | 0 |