2026-05-11T15:10:07-05:00 2025-06-30 991856619 GRANT THORNTON ADVISORS LLC 53 STATE STREET SUITE 1600 BOSTON MA 02109 990 2024-07-01 943140704 AMERICAN UNIVERSITY OF ARMENIA CORPORATION AMER 5109254282 1111 FRANKLIN STREET OAKLAND CA 94607 DR BRUCE BOGHOSIAN PRESIDENT 5109254288 2026-05-11 1 0 ERIN COUTURE P01390592 6177237900 2024 2025-03-06 01:10:19Z DR BRUCE BOGHOSIAN 1111 FRANKLIN STREET OAKLAND CA 94607 17829463 0 X WWW.AUA.AM X 1992 CA SUPPORT OF THE EDUCATIONAL AND RESEARCH ACTIVITIES OF THE AMERICAN UNIVERSITY OF ARMENIA (AUA). 31 30 11 31 21519 0 35613368 9320515 354756 114750 2855622 9453825 256724 93018 39080470 18982108 5941371 9355990 0 0 1202573 1161804 0 0 714189 1922145 1535726 9066089 12053520 30014381 6928588 161470393 172314810 66637 58665 161403756 172256145 SUPPORT OF THE EDUCATIONAL AND RESEARCH ACTIVITIES OF THE AMERICAN UNIVERSITY OF ARMENIA (AUA). 0 0 10580679 9355990 124657 THE AMERICAN UNIVERSITY OF ARMENIA CORPORATION ("AUAC") IS A CALIFORNIA NOT-FOR-PROFIT CORPORATION. AUAC PROVIDES RESOURSES TO THE AMERICAN UNIVERSITY OF ARMENIA FOR EDUCATIONAL PURPOSES INCLUDING USE OF SEVERAL PROPERTIES IN ARMENIA OWNED BY AUAC. THE UNIVERSITY IS OPERATED IN YEREVAN ARMENIA BY THE AMERICAN UNIVERSITY OF ARMENIA FUND ("AUAF"), A NON-PROFIT ENTITY ORGANIZED UNDER THE LAWS OF THE REPUBLIC OF ARMENIA. THE PURPOSE OF AUA IS TO PROVIDE UNIVERSITY EDUCATION, RESEARCH AND PUBLIC SERVICE IN ACCORDANCE WITH THE AMERICAN SYSTEM AND STANDARDS OF HIGHER EDUCATION. ENROLLMENT IS OPEN ON A NONDISCRIMINATORY BASIS TO STUDENTS FROM ARMENIA AND OTHER REGIONS OF THE WORLD. 10580679 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 1 0 1 1 1 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 4 0 1 11 1 1 1 1 AM 0 0 0 0 0 0 0 0 0 0 X 31 30 0 0 1 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 CA X LILIA DARBINIAN 5109254288 1111 FRANKLIN STREET OAKLAND CA 94607 DR BRUCE BOGHOSIAN PRESIDENT 30.00 30.00 X X 291981 218753 0 MS GAYANE KHACHATRYAN VP OF DEVELOPMENT 40.00 0.00 X 152250 0 0 GEVORG GOYUNYAN CFO/TREASURER 15.00 45.00 X 34424 98298 0 DR CAREN MEGHREBLIAN SECRETARY (THRU 03/25) 20.00 0.00 X 80297 0 0 LARA MANN SECRETARY (AS OF 04/25) 40.00 0.00 X 0 0 0 DR LAWRENCE PITTS CHAIRMAN 1.00 0.00 X X 0 0 0 PAUL AGBABIAN TRUSTEE 1.00 0.00 X 0 0 0 MR ZAVEN AKIAN TRUSTEE 1.00 0.00 X 0 0 0 MS SUZY MISSIRIAN ANTOUNIAN TRUSTEE 1.00 0.00 X 0 0 0 V ARA APKARIAN TRUSTEE (AS OF 02/25) 1.00 0.00 X 0 0 0 FR MESROP ARAMIAN TRUSTEE 1.00 0.00 X 0 0 0 DR HAROUTUNE ARMENIAN TRUSTEE (THRU 11/24) 1.00 0.00 X 0 0 0 MS CAROL B ASLANIAN TRUSTEE (THRU 11/24) 1.00 0.00 X 0 0 0 CRAIG AVEDISIAN TRUSTEE 1.00 0.00 X 0 0 0 MR HOVHANNES AVOYAN TRUSTEE 1.00 0.00 X 0 0 0 DR GEORGE BLUMENTHAL TRUSTEE 1.00 0.00 X 0 0 0 PAUL BOGHOSIAN TRUSTEE 1.00 0.00 X 0 0 0 JEAN-MANUEL BULLUKIAN TRUSTEE (AS OF 02/25) 1.00 0.00 X 0 0 0 MR YERVANT DEMIRJIAN TRUSTEE 1.00 0.00 X 0 0 0 DAVID ESSAYAN MD TRUSTEE 1.00 0.00 X 0 0 0 DR WILLIAM FRAZER TRUSTEE (THRU 09/24) 1.00 0.00 X 0 0 0 ARDA NAZERIAN HARATUNIAN TRUSTEE 1.00 0.00 X 0 0 0 MR ADAM KABLANIAN TRUSTEE 1.00 0.00 X 0 0 0 DR ANN KARAGOZIAN TRUSTEE 1.00 0.00 X 0 0 0 DR ARMEN DER KIUREGHIAN TRUSTEE 1.00 0.00 X 0 0 0 MR VAHE KUZOYAN TRUSTEE 1.00 0.00 X 0 0 0 MS LORI MUNCHERIAN TRUSTEE 1.00 0.00 X 0 0 0 DR KATHERINE NEWMAN TRUSTEE 1.00 0.00 X 0 0 0 LUSINE POGHOSYAN TRUSTEE (AS OF 02/25) 1.00 0.00 X 0 0 0 MS LENA SARKISSIAN TRUSTEE 1.00 0.00 X 0 0 0 DR BARBARA SAWREY TRUSTEE 1.00 0.00 X 0 0 0 MR BERGE SETRAKIAN ESQ TRUSTEE 1.00 0.00 X 0 0 0 MR SAM SIMONIAN TRUSTEE (AS OF 10/24) 1.00 0.00 X 0 0 0 MR SINAN SINANIAN TRUSTEE 1.00 0.00 X 0 0 0 MR VASKEN YACOUBIAN TRUSTEE 1.00 0.00 X 0 0 0 MS LUCINE YEGHIAZARYAN TRUSTEE 1.00 0.00 X 0 0 0 MS VERONIKA ZONABEND TRUSTEE 1.00 0.00 X 0 0 0 DR YERVANT ZORIAN TRUSTEE 1.00 0.00 X 0 0 0 558952 317051 0 2 0 1 0 0 739016 602094 7979405 1100 9320515 SPONSORED RESEARCH 900099 114750 114750 114750 1817382 21519 1795863 6425909 -1210534 7636443 7636443 7636443 141000 739016 57889 83111 83111 ACOPIAN CENTER 900099 5495 5495 0 TUITION REIMBURSEMENT 900099 4412 4412 0 9907 18982108 124657 21519 9515417 9355990 9355990 427833 406441 21392 601017 16850 81379 502788 63558 25338 38220 69396 30800 38596 92375 92375 11428 11428 94339 7848 86491 29650 29650 69763 8324 48138 13301 581453 579756 1697 17704 17704 MATERIALS TO AUA 312084 312084 0 0 DUES AND SUBSCRIPTIONS 141526 134966 0 6560 PASS-THROUGH EXPENSES 87069 87069 0 0 PROPERTY AND LAND TAX 43520 43520 0 0 54815 42120 5854 6841 12053520 10580679 758652 714189 843892 108076 3399766 3130896 19823384 21643924 175285 228780 27066373 9869157 17769239 17197216 5584 6020 118713116 128239598 740127 1760300 161470393 172314810 66637 58665 66637 58665 X 27883614 26917666 133520142 145338479 161403756 172256145 161470393 172314810 X 6928588 3911011 12790 X 0 1 X 1 0 X 13828652 6024559 6792194 35613368 9320515 71579288 13828652 6024559 6792194 35613368 9320515 71579288 38937863 32641425 685171 461979 1299994 1219485 1817382 5484011 6000 39514 252040 83111 380665 77443964 850181 0.42150 0.29960 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS FUNDRAISING - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 39,514. 2023 AMOUNT: $ 252,040. 2024 AMOUNT: $ 83,111. EMPLOYEE RETENTION CREDIT - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 6,000. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 0. 2024 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 106072364 2316954 13247487 4451509 117185296 94978223 4114315 11349446 4369620 106072364 89474777 1730354 7415661 3642569 94978223 94204737 5545115 7341970 2933105 104158717 66409702 7634701 22833386 2673052 94204737 0.04900 0.59400 0.35700 1 0 3960066 3960066 18061899 5280216 12781683 604186 281444 322742 3896097 3763372 132725 544125 544125 0 17197216 VARIOUS ENDOWMENTS 128239598 F 128239598 X 22919249 3911011 13340 3924351 18994898 -12790 -12790 18982108 12066860 13340 13340 12053520 0 12053520 PART V, LINE 4: INTENDED USE OF ENDOWMENT FUNDS ENDOWMENT FUNDS ARE TO BE USED FOR THE ONGOING SUPPORT OF PROGRAMS OF THE AMERICAN UNIVERSITY OF ARMENIA. AUAC ANNUALLY BUDGETS APPROPRIATIONS OF ENDOWED FUNDS TO MEET ITS OPERATING NEEDS. APPROPRIATIONS CONSIST OF SPECIFIC SCHOLARSHIP OR RESEARCH GRANT AWARDS AS PROVIDED BY THE DONOR AGREEMENT. AUAC FOLLOWS AN ALL-INCOME DISTRIBUTION POLICY ON ITS ENDOWMENT THAT CURRENTLY APPROXIMATES TO 5.00% OF SIXTY MONTH ROLLING AVERAGE OF THE ENDOWMENT VALUE. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE AUAC FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. AUAC IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. AUAC HAS ALSO BEEN RECOGNIZED BY THE FRANCHISE TAX BOARD AS AN ORGANIZATION THAT IS EXEMPT FROM INCOME TAX PURSUANT TO CALIFORNIA REVENUE AND TAX CODE SECTION 23701D ON ITS INCOME OTHER THAN UNRELATED BUSINESS INCOME. AUAC HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. AUAC HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 4B - OTHER ADJUSTMENTS: CURRENCY TRANSLATION ADJUSTMENT -12,790. 1 ARMENIA 0 0 GRANT MAKING 9355990 ARMENIA 0 0 PROGRAM SERVICES TRAVEL, MISC. EXPENSES 312083 0 0 0 0 0 0 9668073 0 9668073 ARMENIA FUND SCHOOL SCHOLARSHIP 9355990 WIRE 0 1 0 0 0 0 0 0 PART I, LINE 2: PROCESS FOR MONITORING THE USE OF GRANT FUNDS OUTSIDE THE UNITED STATES THE PRIMARY GRANTEE IS THE AMERICAN UNIVERSITY OF ARMENIA FUND (AUAF). AUAC IS THE FOUNDER OF AUAF. GRANTS TO AUAF ARE SUBSTANTIATED BY ANNUAL BUDGETS AND MONTHLY REPORTS. THE SCHOLARSHIP PROGRAMS ARE ADMINISTERED BY AUA AND RECORDS OF EACH GRANTEE ARE MAINTAINED WITH THE SCHOLARSHIP COMMITTEE. PART I, LINE 3: AUAC ACCOUNTS FOR EXPENDITURES USING THE ACCRUAL METHOD. CATALYST FOR CHANGE 880016 739016 141000 284 24569 2000 29362 1674 880016 739016 141000 284 24569 2000 29362 1674 57889 83111 X 1 1 X X X 0 0 0 0 0 0 0 0 1 1 DR BRUCE BOGHOSIAN PRESIDENT 245156 218753 0 0 46825 0 0 0 0 0 291981 218753 0 0 MS GAYANE KHACHATRYAN VP OF DEVELOPMENT 152250 0 0 0 0 0 0 0 0 0 152250 0 0 0 PART I, LINE 1A TAX GROSS-UP PAYMENTS THE ORGANIZATION PROVIDED THE CURRENT PRESIDENT A GROSS-UP PAYMENT FOR THEIR TAXABLE RETIREMENT AND RELOCATION BENEFITS, WHICH ARE REPORTED IN OTHER REPORTABLE COMPENSATION IN SCHEDULE J, PART II, COLUMN (B)(III). PART I, LINE 8 AUAC ENTERED INTO AN INITIAL CONTRACT WITH DR. BRUCE BOGHOSIAN DURING 2023 IN HIS ROLE AS PRESIDENT. THE CONTRACT WAS REVIEWED AND APPROVED WITH CONTEMPORANEOUS DOCUMENTATION BY THE AUAC EXECUTIVE COMMITTEE OF THE BOARD ON 07/12/2023. FORM 990, PART VI, SECTION A, LINE 1A ACCORDING TO THE AUAC BOARD OF TRUSTEE BYLAWS, THE AUAC EXECUTIVE COMMITTEE OF THE BOARD FUNCTIONS AS A STANDING COMMITTEE OF THE BOARD OF TRUSTEES. IN COMPLIANCE WITH THE BYLAWS, THE EXECUTIVE COMMITTEE IS COMPRISED OF TEN (10) TO TWELVE (12) TRUSTEES. THERE ARE NO COMMITTEE MEMBERS WHO ARE NOT MEMBERS OF THE BOARD OF TRUSTEES. AS PRESCRIBED BY THE BYLAWS, THE EXECUTIVE COMMITTEE MAY EXERCISE ALL THE AUTHORITY OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS AND AFFAIRS OF THE CORPORATION BETWEEN MEETINGS OF THE BOARD, BUT AS STIPULATED BY THE BYLAWS, IS NOT AUTHORIZED TO FILL BOARD OR COMMITTEE VACANCIES; AMEND OR REPEAL BOARD RESOLUTIONS, BYLAWS OR ARTICLES OF INCORPORATION AND MAY NOT BIND THE CORPORATION TO ANY CONTRACT OR AGREEMENT WHICH MAY CREATE LIABILITY FOR AN AMOUNT BEYOND THE AUTHORIZED BUDGET ABOVE AN AMOUNT SET BY THE BOARD FROM TIME TO TIME. FORM 990, PART VI, SECTION A, LINE 4 IN JUNE 2025, AUAC UPDATED THEIR BYLAWS TO EXPAND THE EXCUTIVE COMMITTEE FROM NINE (9) TO ELEVEN (11) TRUSTEES TO NOW TEN (10) TO TWELVE (12). THE NEW VERSION OF THE BYLAWS ALSO UPDATED THE VICE CHAIR OF THE BOARD AS A PERMANENT OFFICER. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S FORM 990 WAS PREPARED BY A PROFESSIONAL TAX SERVICES FIRM IN CONJUNCTION WITH THE ORGANIZATION'S FINANCE DEPARTMENT. THE FORM 990 IS PROVIDED TO THE ORGANIZATION'S BOARD OF TRUSTEES BEFORE IT IS FILED. AFTER THE PRESIDENT AND TREASURER APPROVE THE RETURN, IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE AMERICAN UNIVERSITY OF ARMENIA CORPORATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. THE BOARD HAS ADOPTED A CONFLICT OF INTEREST POLICY AND AN ASSOCIATED REPORTING FORM. TRUSTEES AND TOP MANAGEMENT ARE REQUESTED TO REVIEW AND SIGN THE FORM ANNUALLY. THE SIGNED FORMS ARE REVIEWED FOR POTENTIAL CONFLICT OF INTEREST BY THE CHAIRMAN OF THE BOARD OF TRUSTEES, ACCORDING TO THE DEFINITIONS OF CONFLICT OF INTEREST SPECIFIED IN ARTICLE II OF THE CONFLICT OF INTEREST POLICY. IN MAKING A CONFLICT OF INTEREST DETERMINATION, THE CHAIRMAN "MAY CONSULT WITH OTHER MEMBERS OF THE BOARD OF TRUSTEES AS THE CHAIRMAN DEEMS APPROPRIATE." IF THE CHAIRMAN DETERMINES THAT A CONFLICT OF INTEREST EXISTS, IN ACCORDANCE WITH ARTICLE III PROCEDURES OF THE AMERICAN UNIVERSITY OF ARMENIA CONFLICT OF INTEREST POLICY, THE CHAIRMAN APPOINTS A DISINTERESTED PERSON OR A COMMITTEE TO "INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT." A RECORD OF ALL DISINTERESTED PARTY DISCUSSIONS, DETERMINATIONS, NAMES OF THOSE INVOLVED AND APPEALS ARE KEPT. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION DETERMINATION FOR THE PRESIDENT INCLUDED THE USE OF COMPARABILITY DATA, REVIEW AND APPROVAL BY THE AUAC EXECUTIVE COMMITTEE OF THE BOARD AND CONTEMPORANEOUS RECORDKEEPING OF DELIBERATIONS AND DECISIONS. CURRENTLY, THE EXECUTIVE COMMITTEE DOUBLES AS THE COMPENSATION COMMITTEE. THE BOARD IS COMPRISED OF INDEPENDENT PERSONS WITH THE EXCEPTION OF PRESIDENT WHO SERVES AS A MEMBER OF THE BOARD OF TRUSTEES AND THE EXECUTIVE COMMITTEE IN AN EX OFFICIO CAPACITY BUT WHO DOES NOT TAKE PART IN THE COMPENSATION REVIEW AND APPROVAL PROCESS. COMPARISON DATA FOR LIKE UNIVERSITIES, E.G., OTHER "AMERICAN UNIVERSITIES OF...", WAS OBTAINED THROUGH AN EXECUTIVE SEARCH CONDUCTED WITH ISAACSON MILLER. THE MOST RECENT COMPENSATION REVIEW WAS COMPLETED DURING THE CURRENT PRESIDENT'S HIRING PROCESS IN 2023. FORM 990, PART VI, SECTION B, LINE 15B: HIRING AND SALARY DECISIONS OF TOP MANAGEMENT OFFICIALS ARE REVIEWED BY THE BOARD. THERE IS ALSO A PAY SCALE IN PLACE FOR THE ARMENIA STAFF AND THE HUMAN RESOURCE OFFICE IN ARMENIA DOES PERIODIC SURVEYS FOR STAFF POSITION SALARIES PREVAILING IN ARMENIA. FORM 990, PART VI, SECTION C, LINE 19 AUAC MAKES AVAILABLE TO THE PUBLIC ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS UPON WRITTEN REQUEST. FORM 990, PART XI, LINE 9: CURRENCY TRANSLATION ADJUSTMENT 12,790. AMERICAN UNIVERSITY OF ARMENIA FUND 40 BAGRAMIAN AVENUE YEREVAN AM 0019 UNIV. SUPPORT AM AUAC 1 HYBUSINESS INC 1111 FRANKLIN STREET OAKLAND CA 94607 880359775 RENTAL NV AUAC C 21520 1265037 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 AMERICAN UNIVERSITY OF ARMENIA FUND B 9355990 COST