2018/19 ANNUAL REPORT 2018/19 Celebrating the Global Armenian Evangelical Church 1918 2018 ARMENIAN MISSIONARY ASSOCIATION OF AMERICA Ամերիկայի Հայ Աւետարանչական Ընկերակցութիւն 1 2018/19 FOREWORD I thank God for giving me the calling to serve Him through the Armenian Missionary Association of America (AMAA) and the privilege to present to you, our supporters, friends and prayer partners, the Annual Report of the AMAA for the fiscal year 2018-2019. Pursuant to our policy of full disclosure and accountability, we have provided the Statements of Financial Position of the AMAA as of July 31, 2019, and Statements of Income and Expenditures for the past fiscal year, as prepared by our Auditors, Sax LLP, Independent Certified Public Accountants. These reports and financial statements were reviewed and acted upon at the 100th Annual Meeting of the Association held on October 19, 2019 at the Armenian Memorial Church of Watertown, MA. Based on the approval of the reports, we have prepared this Annual Report which is available to all AMAA members, friends and supporting agencies worldwide and accessible on the AMAA website at www. amaa.org. We are grateful to God for blessing our wonderful organization for another year. We uphold all those who in the past, through their passion, dedication, sacrifice and hard work, built the foundation of AMAA. We also would like to thank all those who supported our organization with their prayers, participation and financial support during this past year. We invite you to make every effort to support your organization with greater enthusiasm, and invite others to join us in our worldwide outreach to preach the Gospel and provide a glass of cold water in His name. Zaven Khanjian Executive Director/CEO December 2019 Khoren and Shooshanig Avedisian School Class of 2019 - Yerevan, Armenia 2 2018/19 Table Of Contents AMAA Board of Directors 4 President’s Message 5-6 Executive Director/CEO’s Report 7-16 Treasurer’s Report 17 Director of Finance’s Report 18 AMAA at a Glance 19 AMAA Around the World 20-21 AMAA Ministries 22-24 Financial Reports 25-45 Endowment Funds and Other Financial Info 46-60 Supporting Churches and Organizations 61-62 Historical Financial Data 63 Historical Data 64 How to Give 65 How to Pray 67 Front Cover Photo: Armenian Evangelical Church of Pera, Beyoğlu, Istanbul, Turkey - The first Armenian Evangelical Church world- wide, established on July 1, 1846 Back Cover Photo: Altar stained glass window of the Armenian Church of Martyrs, Worcester, MA - the first Armenian Evangelical Church in the United States, estab- lished on January 1, 1892 and the birthplace of AMAA in 1918. Design: caspianseal.com 3 2018/19 AMAA Board of Directors OFFICERS President: Nazareth Darakjian, M.D. Vice President: Michael Voskian, D.M.D. Treasurer: Nurhan Helvacian, Ph.D. Co‑Recording Secretaries: Mark Kassabian, Esq. and Thomas J. Momjian, Esq. EXECUTIVE DIRECTOR/CEO Zaven Khanjian FIELD DIRECTOR/Pastor to Pastors in Armenia Rev. Mgrdich Melkonian AMAA REPRESENTATIVE in Armenia Harout Nercessian BOARD OF DIRECTORS Class of 2019 Class of 2020 Class of 2021 H. Steven Aharonian, M.D. Edward Avedisian Bryan Agbabian Ara Apelian, M.D. Nazareth Darakjian, M.D. Bryan Bedrosian Rafi Balabanian, D.D.S. Thomas J. Momjian, Esq. Rev. Avedis Boynerian, D.Min. Rev. Ara Guekguezian Jack Muncherian John Cherkezian Berjouhy Barsoumian Gulesserian Vahe Nalbandian, Ph.D. Mark Kassabian, Esq. Susan Jerian, M.D. Alan Philibosian, Esq. Kenneth Kevorkian Hratch Sarkis Gary Phillips, Esq. Louis Kurkjian Joseph H. Stein, Jr. Ann Karagozian Sarafian, Ph.D. Heather Ohaneson, Ph.D. Michael Voskian, D.M.D. Eileen Chopourian Stephey, Ed.D. Michele Simourian EX-OFFICIO Rev. Berdj Djambazian (Minister to AEUNA) Mihran Jizmejian (AMA-Canada - President/CEO) Joyce Philibosian Stein (Stephen Philibosian Foundation) Rev. Dr. Vahan Tootikian (AEWC - Executive Director) Rev. Dr. Krikor Youmshajekian (AMA-Australia - President/CEO) PAST PRESIDENTS H. Steven Aharonian, M.D. George Bezirganian, M.D. Andrew Torigian Joseph Zeronian, Ed.D. HONORARY VICE PRESIDENTS Rev. Megrditch Karagoezian (President, UAEC-Near East) Rev. Dr. René Léonian (President (UAEC-Eurasia) Rev. Joël Mikaélian (President, UAEC-France) Rev. Albert Paytyan (President, EC-Armenia) Rev. Jeremy Tovmassian (Moderator, AEU-North America) 4 President’s Message 2018/19 The Centennial celebrations are over with the final event being the Banquet last October that was an appropriate cap to our year of celebrations. The Banquet Hall at the Biltmore Hotel in downtown Los Angeles was jam packed with more than 500 people, with a program that was both entertaining and informational regarding the worldwide mission of the AMAA. We also took this opportunity to honor the Stephen Philibosian Foundation, the Conte Foundation and the Turpanjian Educational Foundation for their very important contri- butions throughout the years to various AMAA projects. Special thanks to the four Co-Chairs Arsine Phillips, Lori Muncherian, Helga Sarkis and Tina Segel. The Centennial Campaign will however continue till the end of 2019 and we hope that we will come close to accomplish- ing ourB set goal of $20 million. I am happy to report that as of August 1, 2019, close to 65% of our goal had been accomplished. Centennial celebrations also took place in Armenia last September with multiple ser- vices, artistic programs and a very well attended Centennial Banquet in Yerevan. The high- light of the week, however, was the dedication of the beautiful brand-new Gyumri Church complex. A large number of Gyumretsis welcomed us as we performed the dedication ceremonies, cut the ribbons, unveiled the plaques acknowledging the donors and had a worship service in the sanctuary with many local as well as guest pas- tors participating. Following the dedication ceremonies, I stayed in northern Armenia for a few days visiting the churches of Shirakamout, Vanadzor and Alaverdi and the church of Tbilisi in Georgia. The building in Tbilisi was in poor condition and I’m happy to report that since our visit the Church has relocated to a better building. In Armenia Rev. Mgrdich Melkonian continues his mission of building the Evangelical Church of Armenia and provid- ing continuing education and leadership training to our pastors there. The fruit of his work is apparent in that we have two young men who are interested in studying theology at the Near East School of Theology in Beirut, Lebanon and pursuing a career in ministry. Our major construction project in Armenia at present is the Stepanavan administrative building where the ground has already been broken. This project is expected to be completed by 2021. We also have repair/renovation projects going on at our Ijevan Church complex, the Vanadzor parsonage and the Shushi Bedrosian Camp. Mr. Hratch Sarkis, a current AMAA Board member, follows these projects very closely by personally visiting Armenia several times a year. We can’t thank Hratch enough for the services he provides to the AMAA in Armenia. The Avedisian School has completed another banner academic year with 31 High School graduates all planning to pursue higher education. The Avedisian School building has become the first building in the Republic of Armenia to be awarded LEED (Leadership in Energy and Environmental Design) certification. Congratulations and special thanks to Ed Avedisian, architect Ron Altoon and members of the Avedisian School Building Committee for this accomplishment. In the Near East, the political instability and economic distress continue to challenge the health of our institutions there. In Aleppo, there is a tentative peace, but the civil war is far from over and the future very uncertain. The need for humanitarian aid as well as the support for our churches and schools is still very significant. In Lebanon, plans are under way to merge the Torossian School with the Shamlian-Tatigian School, both in Bourj Hammoud. This merger will help shrink the payroll and stem the flow of red ink thus creating an entity that is more viable financially. The AMAA will help the two schools in accomplishing this goal since shrinking the payroll requires an infusion of funds to pay outstanding commitments. In addition to the schools, the AMAA continues its support of the churches, the pastors, summer camps and social service centers throughout the Near East. Haigazian University is making headway as far as reducing their annual deficit and stabilizing the number of regis- tered students. It clearly has become harder for Armenian students to attend Haigazian because of the serious economic stress that their families face there. The AMAA continues to identify new sources of scholarships for Armenian students in order to fulfill Haigazian’s mission of providing higher education to Armenian students in the area. The AMAA has continued its support of the French Union by providing support for needed repairs of their churches and summer camps. The AMAA also supports the various churches of the European fellowship including Greece, Bulgaria and Belgium. In the United States, many needy churches continue to receive support per recommendation of the AEUNA. Sum- mer camps on both coasts of the United States and the Merdinian Armenian Evangelical School in Southern California also continue to receive support from the AMAA. During the last year, our West Coast Executive Director Levon Filian decided to retire from his position and his con- tributions to the AMAA were acknowledged during the Centennial Banquet in Los Angeles. Mr. Filian, however, continues to serve the AMAA on a voluntary basis and represents the AMAA when needed. The West Coast office remains open and our goal is to ultimately fill that position with a Field Director based on the estW Coast. 5 2018/19 Our Paramus office has experienced turnover in personnel of the Finance Department. Nerses Rastguelenian has been hired as Controller of the Association and has been instrumental in helping us meet all our obligations in the Finance Department including the preparation of the budget for the new fiscal year.