ARMENIAN MISSIONARY ASSOCIATION OF AMERICA 2014 - 2015 ²Ù»ñÇϳÛÇ Ð³Û ²õ»ï³ñ³Ýã³Ï³Ý ÀÝÏ»ñ³ÏóáõÃÇõÝ ANNUAL REPORT 100 YEARS THE MIRACLE OF SURVIVAL

1 TABLE OF CONTENTS PAGE FOREWORD

AMAA Board of Directors ...... 3 I thank God for giving me the calling to PRESIDENT’S MESSAGE ...... 4 serve Him through the Armenian Missionary Association of America (AMAA) and the privilege EXECUTIVE DIRECTOR/CEO’S REPORT ...... 5 to present to you, our supporters, friends and prayer partners, the Annual Report of the TREASURER’S REPORT ...... 10 Armenian Missionary Association of America for DIRECTOR OF FINANCE’S REPORT ...... 11 the fscal year 2014-2015.

AMAA AT A GLANCE ...... 12 Pursuant to our policy of full disclosure and accountability, we have provided the Statements of FUNDING PRIORITIES ...... 13 Financial Position of the AMAA as of July 31, 2015, AMAA AROUND THE WORLD ...... 14-15 and statements of income and expenditures for the past fscal year, as prepared by our Auditors, AMAA MINISTRIES SaxBST, Independent Certifed Public Accountants. Churches & Missions ...... 16 Evangelism ...... 16 These reports and fnancial statements Education ...... 17 were reviewed and acted upon at the 96th Annual Relief Aid ...... 17 Meeting of the Association held on October 17, FINANCIAL 2015 at Calvary Armenian Congregational Church, Report of Management ...... 18 725 Brotherhood Way, San Francisco, CA 94132. Auditor’s Report ...... 19 Audited Financial Statements ...... 20-31 Based on the approval of the reports, we 2015-2016 Budget ...... 32 have prepared this Annual Report which is available to all AMAA members, friends and supporting ENDOWMENT FUNDS & OTHER FINANCIAL INFO Summary of Investments in Endowment and Trust Funds ...... 33 agencies worldwide and accessible on the AMAA AMAA General Endowment Funds ...... 34-42 website at www.amaa.org. Relief Endowment Funds ...... 43 AMAA Headquarters Endowment Funds ...... 43 We are grateful to God for blessing our Haigazian University Endowment Funds ...... 44-45 wonderful organization for another year. We uphold Armenian Evang’l Schools of CA, Inc. Endowment Funds ...... 45 all those who in the past, through their passion, Ministers’ & Ministers’ Widows’ Pension Endowment Funds ...... 46 dedication, sacrifce and hard work, built the SUPPORTING CHURCHES & ORGANIZATIONS ...... 47 foundation of AMAA. We also would like to thank all those who supported our organization with their HISTORICAL FINANCIAL DATA ...... 48 prayers, participation and fnancial support during this past year. OTHER HISTORICAL DATA ...... 49 We invite you to make every effort to support HOW TO GIVE ...... 50 your organization with greater enthusiasm, and HOW TO PRAY ...... 51 invite others to join us in our worldwide outreach to preach the Gospel and provide a glass of cold water in His name.

December 2015

Zaven Khanjian Cover Photo: A student at Bilezikian Kindergarten Executive Director/CEO Shushi - Karabagh Copyright © 2015 Armenian Missionary Association of America, Inc. - All rights reserved Design: www.caspianseal.com

2 AMAA Board of Directors 2014-15

OFFICERS President: Nazareth Darakjian, M.D. Vice President: Michael Voskian, D.M.D. Treasurer: Nurhan Helvacian, Ph.D. Co-Recording Secretaries: Thomas Momjian, Esq. and Arsine Bedrossian Phillips, Esq.

EXECUTIVE DIRECTOR/CEO Zaven Khanjian

WEST COAST EXECUTIVE DIRECTOR Levon Filian

FIELD DIRECTOR/PASTOR TO PASTORS IN ARMENIA Rev. Mgrdich Melkonian

DIRECTOR OF FINANCE David Aynejian

BOARD OF DIRECTORS Class of 2015 Class of 2016 Class of 2017 H. Steven Aharonian, M.D. Hon. Alice Altoon Bryan Bedrosian Raf Balabanian, D.D.S. Edward Avedisian Anita Philibosian Buchakjian Rev. Berj Gulleyan Rev. Ara Guekguezian Nazareth Darakjian, M.D. Nurhan Helvacian, Ph.D. Berjouhy Barsoumian Gulesserian Louis Kurkjian John Kassabian, M.D. Peter Kougasian, Esq. Vahe Nalbandian, Ph.D. Seta Loshkajian Nalbandian Thomas Momjian, Esq. Arsine Bedrossian Phillips, Esq. Jeanmarie Papelian, Esq. Hovhanness Shnorhokian, D.M.D. Ann Karagozian Sarafan, Ph.D. Carlos Taraktzian Joseph Stein Hratch Sarkis Michael Voskian, D.M.D. Joseph Zeronian, Ed.D. Eileen Chopourian Stephey, Ed.D.

EX-OFFICIO Mihran Jizmejian (AMA-Canada-President/CEO) Rev. Hendrik Shanazarian (Acting Minister to AEUNA) Joyce Philibosian Stein (Stephen Philibosian Foundation) Rev. Dr. Vahan Tootikian (AEWC-Executive Director) Rev. Dr. Krikor Youmshajekian (AMA-Australia-President/Executive)

PAST PRESIDENTS H. Steven Aharonian, M.D. George Bezirganian, M.D. Samuel Hekemian Albert Momjian, Esq. Andrew Torigian Joseph Zeronian, Ed.D.

HONORARY VICE PRESIDENTS Rev. Megrditch Karagoezian (President, UAEC-Near East) Rev. Jacques Tchoghandjian (President, AEU-France) Rev. Ron Tovmassian, D.Min. (Moderator, AEU-North America) Rev. Garnik Tutikyan (President, UEC-Armenia)

3 President’s Message

he AMAA continues the mission that has been entrusted to it by you, the membership of the organization, as well as the entire family of Armenian Evangelical communities worldwide. TThe year 2015 has been full of activities as all over the world commemorate the Centennial of the Genocide. The AMAA in turn has organized and also participated in many such activities in different places. More than that, we have reaffrmed our resolve and determination to continue the work of our predecessors who founded the AMAA to provide relief, whether that may be humanitarian, educational or spiritual, to Armenians all over the world. For the last 25 years Armenia has occupied the center position of the AMAA mission programs refecting the immense need there as well as the size of the feld. I had the opportunity to visit Armenia for the Centennial commemorations in April and was able to visit quite a few of our mission centers and especially those with ongoing construction or renovation. I visited the newly completed and beautiful Khoren and Shooshanig Avedisian School building, full of bright eyed students flling classes from KG to 9th grade with plans to add one class per year until the 12th grade of High School. I visited Gyumri where we just broke ground for our long awaited 2 million dollar project to build a sanctuary and a community center. I visited Dilijan where work is in progress to build a sanctuary expected to be completed by the end of this year. I visited the House of Hope church building that was acquired just last year. I visited the Sheen Shoghig Hankavan Camp where we just completed renovating the auditorium and conference center and are continuing renovations of the dorm buildings. Hankavan is a truly beautiful spot where thousands of children hear about Christ and the Word of God every year. There is no question that the bulk of our work in Armenia has to do with children and youth. Our Child and Orphan Care Committee does fabulous work every year raising the necessary funds to help the needy children of Armenia. The after school childcare project, the summer camps, the employment program, the many kindergartens that we support, all aim at preparing the new generation in Armenia for a better future. All of these projects require the support and prayers of our members and supporters. While in Yerevan I also participated in the meeting of the Armenian Evangelical World Council; this body brings together all the Armenian Evangelical Unions of the world all of whom are our mission partners. I also had several meetings with Rev. Mgrdich Melkonian our Pastor to Pastors in Armenia who is continuing his efforts to organize the Union of the Evangelical Churches of Armenia, and provide opportunities for growth and continuing education for our pastors. Next to Armenia, our biggest challenge remains the very tragic situation of war torn Syria, our people, our leadership, our churches and schools. Over one million dollars has been raised so far and transferred to Syria and also to Syrian refugees outside of Syria and the work continues with no end in sight. Our special thanks to all those who have been supporting this effort with their donations, and we continue to pray that God may restore peace to that part of the world. has been and still is the center of the . Many of us living in the West today were brought up and received their education in our many churches and schools there. Long years of civil war, massive emigration and economic woes have weakened those once thriving communities. The AMAA wants to ensure the survival of our institutions there in a cost effective manner and yet we do not want to leave a single child behind. We also applaud the efforts of the Haigazian University Board members and all those involved in the 60th anniversary campaign to augment the Endowment Fund of the University to help capable but needy students to obtain a college education. We are also happy to note that KCHAG, our Summer Camp in Lebanon, has resumed full operation this year, and the AMAA can take credit in supporting the revival and reconstruction of that Camp in a signifcant manner. The AMAA also continues to provide support to our institutions and programs in North America whether it’s in the form of grants or loans. Our assistance to the C & E Merdinian Armenian Evangelical School in Sherman Oaks, California, helps provide fnancial aid to many needy students every year. The Merdinian School is also involved in a major construction project and will beneft from funds raised in our last Capital Campaign. The Holy Trinity Armenian Church of North Hollywood had been renting its facility from the Presbyterian Church until last year when PC decided to sell the building. A new owner would have most likely asked HTC to vacate the property with dire consequences for the church. The AMAA was able to purchase the building from PC before the building was put on the market, and this enabled HTC to continue renting the property with the hope that someday they will be able to acquire ownership of their church building. As we close the books on another year this is the time to express our gratitude to God frst for another successful year. I also want to thank our staff that was challenged and sometimes stretched thin because of some employees being on medical leave of absence. I want to thank the Board members and all the volunteers for their contribution of time and effort, and also our donors for their generosity and faithfulness to our mission. Last but not least my special thanks go to our Executive Director/CEO Zaven Khanjian as he completes his frst year on the job for his selfess dedication, round the clock effort and total commitment to every single cause and program that the AMAA has been supporting. Before He left this earth Jesus gave us the great commission saying: “Go therefore and make disciples of all nations, baptizing them in the name of the Father and of the Son and of the Holy Spirit.” This is the mission of the AMAA, and it is our prayer that God gives us the means to extend our support to many more groups, fellowships and communities in the world and help spread the good news of His Gospel. Respectfully submitted, Nazareth Darakjian, M.D., President

4 Executive Director/CEO’s Report

ith the grace of God and responding to a call from the AMAA Board of Directors, I as- sumed my duties as Executive Director/CEO on September 1, 2014. The AMAA, its Wactivities, and the worldwide Armenian Evangelical community have not been strange to me. In my active community service during the past several decades I have closely worked with the AMAA, its successive Executive Directors and Board of Directors. I have also been very active within the Armenian Community in the United States having served in many Pan Armenian organizations. Carrying all that experience and perspective has undoubtedly been helpful for me in carrying off my duties. The internet and modern means of transportation have made the world smaller with breezing communication, linking activists and communities to- gether despite long distances. Caring has also been a natural conviction of life for me making the AMAA a very con- ducive home. I have always looked at Jesus not as a philosopher nor a theologian but a shep- herd caring for the fock, the poor, the sick, the needy, the dispossessed and the less fortunate. The perspective from within has defnitely been illuminative with a variety of not so routine challenges. I have not been deterred but have served fervently, humbly, lovingly, patiently, actively and attentively. A report of selective signifcant activities and highlights follows.

A. PARAMUS HEADQUARTERS 1. STAFF - Executive Secretary Nancy Rivera developed a serious ailment and went on to be under medical care in early April 2015. We thank God that she recovered and is back on duty as of early October 2015. - On August 1, 2015, Magda Poulos, recruited from within, assumed her new duties as “Director of Annual Giving.” - On August 10, 2015, Sonia Avakian replaced Magda Poulos, assuming the position of “Database Coordinator.” 2. MAJOR OFFICE IMPROVEMENTS - AUDIOVISUAL COMMUNICATION SYSTEM: A new audiovisual telecommunication system was installed in the Paramus Board Room to enhance long distance communication within the organization. - SURVEILLANCE CAMERAS: In an effort to tighten security of the AMAA H/Q, surveillance cameras were in- stalled both on the perimeter of the building and internally.

B. DEVELOPMENT, FUND RAISING AND PUBLICITY - Effective September 2014, we embarked on E-Blasts of AMAA activities, news releases, messages and fund rais- ing appeals to a gradually expanding email data base on a weekly basis, often with a pace of several per week. The service effciently and effectively continues. - Similarly, effective September 2014, we embarked on coverage of global AMAA ministries, projects and activities in bilingual Press Releases appearing in a wider range of print and internet based global Armenian news media. - Direct Mail and Social Media Fund Raising, Publicity and Community interaction efforts continued with vigor all year round. - Interaction with the general public has been supplemented with regular uploading of all E-Blasts and Press Re- leases to the AMAA Facebook page and the offcial AMAA website. During the year we mailed out the following Direct Mail pieces: 1. A Mission and Service appeal in October 2014 2. A Christmas appeal in December 2014 3. A Christmas Joy Fund Raising Flyer in December 2014 – Limited Mailing 4. An Easter appeal to support Mission and Service in March 2015 5. A Syria Relief/Lifeline brochure in May 2015

Contributions have fown in. Encouraging statements and supportive messages accompanying donations have touched our hearts, multiplied the joy and treasured the mission.

C. AMAA NEWS 1. The Oct-Nov-Dec 2014 issue featured the Avedisian School inauguration. 2. A special AMAA issue in January 2015 featured the joint AMAA/HU November 2014 Banquet honoring Dr. Mihran Agbabian and George Phillips Sr. 3. The Jan-Feb-Mar 2015 issue featured the Centennial. 4. The Apr-May-June 2015 issue featured the Genocide Centennial commemorations. 5. The July-Aug-Sept 2015 issue was dedicated to our Youth. 5 D. ARMENIA 1. AMAA ARMENIA Armenia remains to be the largest feld of the AMAA mission activities. The Avedisian School inauguration gave me the frst opportunity for a maiden visit to Armenia from October 3-13, 2014 to learn more about it. It is an immense feld with a multitude of activities and dynamism. Despite over 22 years of our presence in the homeland after independence, a lot remains obscure. A discussion will follow under the caption of the Evangelical Church of Armenia. With the ardent leadership of Harout Nercessian, the AMAA Representative in Armenia, among others, we accom- plished the following during the fscal year. • AVEDISIAN SCHOOL: The Avedisian School and Community Center inauguration took place in October 2014 in the presence of benefactors, the gracious Avedisian and Bilezikian families, the President of ROA, local and in- ternational dignitaries and AMAA Board members and staff. The School opening coupled with numerous achieve- ments during the frst academic year has resulted in a tremendous amount of publicity for the AMAA. The new, modern, state of the art design and construction of the School, including its LEED certifcation maintains a status that is unique to the region. Over 330 Impoverished children from the Malatya-Sepastia region of Yerevan receiv- ing high quality totally free education has made the dreams of the benefactors come true. The AMAA funds the budget of the School and has established an Endowment Fund with a balance of $2.4M with plans to grow. Kudos to Ed Avedisian for a job well done. We’re proud of him and the institution created. • CAMPS: Hankavan Sheen Shoghig in Armenia and Bedrosian Camp in Shushi have undergone renovation and upgrading of various scales. The Camps became a blessing for over 5,000 youth both in Armenia and Karabagh who enjoyed the magical natural settings where they were introduced to Jesus Christ and the Word of God. • CONSTRUCTION: During the fscal year the construction of the new DILIJAN Church was in its fnal stages and hence has been completed. In July 2015 the construction of the new GYUMRI Church complex commenced. Board Member Hratch Sarkis is diligently and professionally overseeing the Gyumri construction process. • MILK FUND: 500 newborn babies who cannot be breastfed continue to be blessed by the AMAA Milk Fund pro- gram which celebrated its 25th anniversary this year. • STICHED WITH LOVE: Hundreds of Armenian infants or very young children continued to be bundled with cus- tom clothing ‘Stitched with Love” by volunteer knitters in the US. • ORPHAN and CHILD CARE: Angelic ladies on both coasts continued the miracle of raising funds to sponsor over 1,500 needy Armenian children in the homeland. • DAY CENTERS: 2 Day Centers in Yerevan and Vanadzor continued to serve 170 children offering nutrition, coun- seling, homework supervision, art and craft classes and the Word of God. • MEDICAL MISSION: “Emulating His love in Armenia” the Phillips’ 7th milestone Medical Mission to Armenia served 1,350 patients including 300 children and young adults. The Mission is expanding in size, service and budget. • SCHOLARSHIPS: AMAA Armenia provided $18,153 in local scholarships to 60 needy and deserving students. • MEDICAL & DENTAL CARE: The Aynilian Medical Center in Yerevan provided ultra-sound services to 1,785 patients, dental services to 1,188 and medications to 780. • The Hope for Armenia Vanadzor Clinic provided services to 762 children. • The Spitak clinic provided dental services to 2,512 children and pediatric services to 2,252. • INTERNS: 19 AMAA summer interns from several countries, led by Rev. Vatche Ekmekjian of Downey, CA, en- joyed 16 days in the homeland witnessing “God’s beauty all around,” “learning, serving and growing” in the history of the homeland and the Love of God of our people. • ARTSAKH KINDERGARTENS: 540 children were enrolled in the Artsakh Kindergartens. • HEIFER PROJECT: Villagers in Lori and Tavush were provided 24 new cows and 40 cows were passed to new families from past recipients. • CHRISTMAS PROGRAMS: 7,200 gifts were delivered to children in various Christmas Programs across the homeland. • CHRISTIAN EDUCATION: 3,600 children, youth and young adults participated in various CE, art, sports and educational programs.

2. EVANGELICAL CHURCH of ARMENIA – ECA Our Mission in Armenia continues to be a challenge as we collectively seek the spiritual fruits of over 22 years of hu- man and material investments there. The ECA remains totally dependent on the AMAA fnancially and also in management and administration. The existence, expansion and strength of the Armenian Evangelical Church of Armenia (currently with 23 churches in Armenia and Karabagh) are of utmost importance to the future of the Armenian Evangelical movement as we know it. Our communities in the Middle East, which have fed the fre of the Evangelical Movement over the

6 past century, are unfortunately on a gradual march toward a bleak and unknown future. While the West, despite the potential of maintaining the spiritual zeal, has and will continue to lose many vital characteristics which identifed the vigorous Armenian Evangelical Movement of the 19th and 20th centuries. The only place where a zealous, active and energetic Armenian Evangelical Church can and should thrive and potentially perpetuate the movement is indepen- dent Armenia. I am closely working with the local AMAA leadership in cutting dry branches and irrigating the furrows of green felds. Rev. Mgrdich Melkonian, our Pastor to the Pastors in Armenia, continues his service of leading, teaching, supervising and mentoring ECA pastors. During 2015, Rev. Melkonian is scheduled to spend seven months in Armenia, two more com- pared to the previous years.

E. GENOCIDE CENTENNIAL ACTIVITIES The AMAA appropriately commemorated the Centennial of the Armenian Genocide, planning, undertaking and/or participating in the following. 1. A joint AMAA-AEUNA Commemorative Concert at the Ambassador Auditorium in Pasadena, California on Janu- ary 24, 2015. Thanks to a vibrant Commemorative Committee led by Dr. Vahram Shemmassian and an outstand- ing program prepared by the LARK Musical Society led by Maestro Vatche Barsoumian, the concert, witnessed by most critiques, was a dazzling success worthy of the occasion. 2. The AMAA supported the ANCA-WR ‘AMERICA WE THANK YOU’ campaign to raise awareness of the Genocide resurrecting the story of the Near East Relief’s contribution to save shelter and sustain the tens of thousands of Armenians, orphaned by the Genocide, launched at the Los Angeles Library on March 6, 2015. 3. The AMAA published Hrant Guzelian’ s memoirs in English, covering the search and rescue operation of Islamized Armenian youth from the depths of Anatolia, transforming them to God loving and fearing Christian Armenians in the Youth Home at Gedik Pasha Church in and at CAMP ARMEN in Tuzla, near Istanbul. a. The West Coast Book presentation took place on April 7, 2015 in Glendale, CA. b. The East Coast presentation took place on June 12, 2015 at Armenian Presbyterian Church in Paramus, NJ. 4. A lecture by the Executive Director/CEO covering the life and legacy of the martyred journalist, founder of in Istanbul and the most prominent graduate of The Youth Home of Istanbul, , was delivered at the Armenian Presbyterian Church in Paramus on January 30, 2015. 5. A lecture on September 12, 2015 in Toronto, Canada depicting the life of several Armenian Evangelical Ministers – unsung heroes − who dedicated their lives to the survivors of the Genocide. 6. A series of AMAA planned activities commemorating the Genocide Centennial in April 2015 in Armenia. Due to my medical condition I missed my April 2015 planned trip to Armenia. Our President, Dr. Nazareth Darakjian took the trip, led the delegation and participated in the AMAA and formal offcial ROA commemorative events. 7. Participation in the Armenian Genocide Centennial Committee – Eastern USA # NEVERAGAIN Awareness and Social Engagement Campaign through Outdoor and Social Media. 8. Participation in the Community organized commemorative service at St. Vartan Cathedral on April 26, 2015 fol- lowed by the Centennial Commemoration at Times Square, New York. 9. Participation in the National Genocide Centennial Commemorative events taking place May 7-9 in the nation’s capital. Rev. Nishan Bakalian represented both the AMAA and the AEUNA on the National Committee, organizing and implementing the commemoration.

F. THE NEAR EAST 1. SYRIA The dreadful security and safety situation rapidly continued to deteriorate on the ground in Syria. Aleppo, the cradle of post Genocide Armenian Diaspora, remains to be at harm’s way as the foreign funded and armed extremist militants try to overrun the Government held territories including the Christian and Armenian neighborhoods. The unimaginable pain and suffering of the remaining community in Aleppo is on the rise and the cries of an exodus emanating from within the City and/or from the refugee circles outside are clearly and widely heard on Social Media. Reaching out to our people in Syria has and continues to be of strategic priority. Despite our ability to meet the Board set goal of regular monthly transfers of $25,000, much more is needed. A plan was set to move families who desire BUT are unable to fnance the transportation cost to Armenia through Lebanon. The lack of a national policy and effort in this respect will not deter to realize the plan within the fnancial means that we have and can generate. Despite his determination to stay put, Rev. Haroutune Selimian is cooperating on the above mentioned ‘lifeline’ plan. He remains the brave and responsible shepherd leading and guarding not only our denominational fock in Syria but actively indulging in the protection, welfare and security of the overall Armenian community there.

7 The above strategy demands that we extend our assistance to the Syrian refugees in Lebanon and Armenia where we hope to settle as many Syrian Armenians as we possibly can. Continued prayers accompanied by material and logistics support are the foundation of our unwaivered attention to our Syrian Armenian kin.

2. LEBANON I had the blessing and opportunity to visit Lebanon between May 2 to May 10, 2015 to participate in the annual joint AMAA Near East Committee and the UAECNE meeting and Haigazian University’s Spring Trustee meeting. Here are a few signifcant observations. a. Schools Our most vulnerable establishments in Lebanon continue to be our schools. After many years of hesitation and uncer- tainty, the UAECNE Central Committee took the regrettable but bold step to close the GERTMENIAN School as of September 2015 and move the students to Shamlian Tatikgan and Central High School. This will eliminate the fnancial bleeding at Gert- menian and release the property potentially to generate market rate income in support of our educational system. Budgets of the other fve schools continued to be in red in various degrees. It is my conviction that the new UAECNE leadership understands the situation, is cognizant of the risks of running defcits and in partnership with the AMAA is search- ing for mitigating factors. The frst step has been taken and together we shall continue to closely monitor the schools and their fnances. In the face of these responsible steps, during the fscal year, the AMAA Board approved and funded the sum of $115,000 in emergency aid to the UAECNE in support of the schools. Under all circumstances the schools and the community are in dire need of fnancial aid in education. My goal is to establish a healthy and hefty Endowment Fund to create a continued stream of fnancial aid for education in Lebanon (and Syria). The potential capital of this Fund is expected to come from AMAA owned Real Estate in Lebanon and the planned AMAA Centennial Capital Campaign that we intend to embark on in 2016. b. Property Expectations of the leadership in Lebanon include the use of the available AMAA owned properties to generate ad- ditional income to fund the school defcits. Mainly two properties are at stake. (1) The Gertmenian properties Options are to optimize the income by converting all leases to current market rates. The AMAA and the UAECNE are considering the above and other possible options to generate income in support of the educational system in Lebanon. (2) The Petania property This (now) vacant property is still paralyzed by the partial ownership title held by the missionaries who sold the property to the AMAA. This has thus far hindered any potential sale. New legal opinion has just been received from new attorneys. No miracle cure. Time and money will have to be invested to emancipate the property and pursue the sale. The bright side of the news is the skyrocketing values of real estate in that neighborhood which is expected to create a potential nest that eventually and at the discretion of the AMAA benefts the Lebanon schools. It is of utmost importance to note that the educational system in place in Lebanon remains to be of vital stra- tegic importance to the future of our nation both in the spheres of language (), culture and faith. It has yet no equivalent parallel anywhere in the Diaspora in terms of quality and quantity and has to be nurtured and vigorously supported. c. Haigazian University The Haigazian University is celebrating its 60th anniversary. The ED/CEO participated in the festivities in Lebanon in May and addressed the celebratory banquet. An ardent campaign is underway in the US to raise an additional $6M for the HU Endowment Campaign. The AMAA stands strongly committed to keep this beacon of light glowing in the cradle of civilization, the Middle East, to fght ignorance and darkness and spread the light of education, peace, human coexistence and brotherly love all around.

G. THE NORTH AMERICA MISSION Utilizing our manpower, we continue visiting the AEUNA member churches to participate in AMAA Mission Sunday programs. It is vital to our mission that we cover all AEUNA churches once a year and although that was not fully achieved in the reported fscal year, I intend to do so. The AEUNA has undergone a change of leadership. Effective August 1, 2015, Rev. Berdj Djambazian was invited to serve as Minister to the Union replacing Act- ing Minister to the Union Rev. Hendrik Shanazarian. Rev. Djambazian will be formally called to service by the AEUNA

8 biannual convention of June 2016 to take place in Chicago next year. Rev. Djambazian is a visionary. I am confdent that the AEUNA will extensively beneft from his experience, zeal and faithfulness to the Lord. The AMAA supports the Union budget through the Joint Home Mission Committee (JHMC). Relations between the AMAA and AEUNA are smooth and friendly. The AMAA President and the Executive Director/CEO serve on the Union Board. The Executive Director/CEO also serves on the AEUNA Executive Committee. This year, the AMAA Budget and Finance Committee endorsed the JHMC approved budget as presented, without any changes.

H. SCHOLARSHIPS The AMAA provided $180,000 in college scholarships to needy and deserving students for the academic year 2015- 2016.

I. FRAUD DISCOVERY AND INVESTIGATION In December 2014 we made the grim discovery of fraud and embezzlement by a former employee of the AMAA during the period 2006-2014. An immediate investigation followed, authorities were notifed and the culprit was arrested and jailed. In line with AMAA’s strong commitment to transparency and sense of responsibility, a communiqué was circulated to donors, the AMAA general membership and the public at large through E-Blasts, the AMAA News and the bilingual national Armenian media. Immediate steps were enacted to solidify internal control and avoid repetition. Simultaneously vigorous measures were taken toward recovery of misappropriated funds. I am pleased to state that at the time this report was prepared 80% of the embezzled funds were recovered while we still ardently pursue the recovery of the balance. AMAA donors, the general membership and the public at large will once again be notifed of the fnal outcome of our efforts once the case is closed. I like to reiterate AMAA’s strong sense of responsibility, accountability, transparency and prudent management of do- nor funds. We pledge to spare no effort to live up to that tradition.

J. CENTENNIAL CAPITAL CAMPAIGN The year 2018 is the Centennial of the Armenian Missionary Association of America. In ardent respect and reverence to the founders of the AMAA and in total faithfulness to God who is the fountain of all good that the AMAA has spread around the globe in the past 100 years, a Centennial Capital Campaign is being developed. The Campaign is planned to embark in early 2016 and be capped at the Centennial Banquet in October 2018. The purpose of this Campaign is to raise funds for specifc Capital Projects in the AMAA mission felds in addition to new or supplemental Endowment Funds for existing or new programs and projects. The Development Committee together with the Executive Director is working on the details of the Campaign.

K. LETTERS & MESSAGES A host of celebratory letters or messages of sympathy have been sent out to churches, organizations, institutions, families and individuals marking various occasions.

L. GRATITUDE God is the foundation of AMAA’s 97 year old GOOD work. But God’s work is revealed and accomplished through 1. The compassionate hearts, caring minds and loving souls of all our donors. 2. A dedicated and attentive Board of Directors. 3. Devoted and caring Committee members and volunteers. 4. An effcient, dedicated and productive staff.

My heartfelt gratitude to all.

M. CONCLUSION The mission of the AMAA is in a constant cycle. The mission to construct and reconstruct lives is an unending and ongoing process. I continue to pray to God for the courage, health and wisdom to be able to carry on my load in the path of my predecessors and in a manner worthy of His Kingdom. “And this gospel of the kingdom shall be preached in the entire world for a witness unto all nations…” Matt.24:14

Respectfully submitted, Zaven Khanjian, Executive Director/CEO 9 Treasurer’s Report

t was my honor and privilege to serve as the Treasurer of the Armenian Missionary Associa- tion of America, Inc. (AMAA). I am pleased to report to you that the AMAA’s revenues from Icontributions, bequests and investments exceeded our expectations in the fscal year 2014- 15. The audited year-end fnancial results, as of the year ending in July 31, 2015, show that the total revenue was $13.5 million, while expenses on programs and support activities were $9.8 million, resulting in a $3.7 million surplus. At year end, the AMAA net assets were valued at nearly $165.9 million, a record high, up from $162.1 million from the previous year. The total revenue ($13.5) was comprised of revenues from contributions and bequests, and investment income and capital gains. The revenues for contributions and bequests were $7.8 million, of which $2.0 million were unrestricted (up from 1.3 million from the previous year) and $5.8 million were either temporarily or permanently restricted. The revenues from investment income, and net realized and unrealized gains were $5.7 million. The Association’s spending on core missions and activities continued unabated. The AMAA spent nearly $9.4 million, net of depreciation, last year in 24 countries, including the following: for relief ($3.5 million), on education ($2.0 million), and evangelism, churches and missions ($1.2 million). Total spending on capital projects was nearly $909,000 in the fscal year, including outlays of $323,000 for Hankavan Camp renovations, $154,000 for Dilijan Church construction, $273,000 for Gyumri Church plans and construction, and $147,000 for Karabagh kindergarten and camp renovations. This year’s fnancial statements were once again audited by the independent Certifed Public Accounting frm of Sax BST. The independent auditor’s comments and fnancial statements are included as part of the Annual Report. I encourage each member to review these statements, and to direct your questions either to me or David Aynejian, the Director of Finance, or George Takach, the Controller. I am grateful to Dr. Michael Voskian, the Chairman and all the other members of the Investment Committee for their diligence. Most importantly, I thank God for the AMAA supporters whose generosity and volunteerism are the foundation of the organization. Their talents and dedication enables the AMAA to carry out its holy mission and vital services around the world.

Respectfully submitted, Nurhan Helvacian, Ph.D.,Treasurer

10 Director of Finance’s Report

he Finance Department at the