AGBU 2002-2003 Biennial Report

97 Years of Preserving Heritage

AGBU’s history dates back to 1906, but since the independence of Armenia in 1991, we have played an increasing role as a bridge between the Diaspora and the homeland.

AGBU has worked to modernize its programs and goals to meet the ever changing needs of the community. From schools to scholarships, from Young Professionals in Beirut to internships in New York, from soup kitchens to the American University of Armenia, and from cultural events and athletic games to support of Armenian programming on television stations around the world, AGBU is at the forefront of providing world-class programs.

Over the last century, we have carefully managed our financial resources to ensure that the organization’s programs and projects will continue and expand for future generations. In the last few years, the number of donors has increased dramatically, collectively they represent some of the largest donations in our history.

Before the humanitarian crisis of the 1988 earthquake in Armenia, AGBU’s primary income was derived from its membership dues, fundraising and bequests. Since then, Armenians worldwide have responded to AGBU’s appeal to support new initiatives and as a result AGBU’s net assets have increased by millions of dollars, which allows AGBU to continue and strengthen its mission. With a strong trust in AGBU’s financial management, Armenians have come to recognize that AGBU reaches more people annually—over 400,000—than any other Armenian organization.

The future looks bright for Armenians and AGBU. We are certain to play a major role in ensuring that the common heritage and identity we have shared for millennia will continue to unify and invigorate us. We continue in our efforts to plan, provide and promote new endeavors to meet the challenges and needs of the 21st century.

Together great things will happen.

AGBU Net Assets (in millions US$)

To Our Members, Donors and Friends,

As we reflect on the last two years and review the mission and goals of AGBU on the occasion of the 83rd General Assembly, we are ever mindful of the new and emerging demands that confront us in this rapidly changing world. With the approach of AGBU's Centennial Anniversary in 2006, a comprehensive analysis of our programs is underway to ensure that our current programs are effectively fulfilling their intended purpose. We must assess the necessity of new initiatives to better address the evolving needs of our constituents around the globe.

For nearly a century, AGBU has reached out to Armenians throughout the world. We continue to operate 17 AGBU day schools, which enroll nearly 6,000 students, and 13 Saturday schools that serve hundreds of young Armenians. Each year, our scholarship program assists over 500 outstanding Armenian students in meeting their educational goals as they attend some of the finest institutions in the world. Today, AGBU summer youth camps, internship programs, Generation Next Mentorship Program, Young Professionals, sports and scouting programs, cultural activities and publications offer invaluable guidance, as well as educational, social and professional experiences, providing our youth with the tools necessary to maintain their identity, perpetuate their heritage and become the leaders of tomorrow. In Armenia alone, AGBU sponsors three Children's Centers, making after-school activities available to 3,500 children; six Soup Kitchens that feed over 1,200 pensioners and orphans daily; the American University of Armenia, with 1,000-plus alumni; the Armenian Philharmonic Orchestra; an Ultrasound Center, and the list goes on.

However, none of these initiatives would be possible without the ongoing trust and financial support of our donors, the dedicated leadership of our worldwide chapters, and the stewardship of the Central Board. It is with appreciation, and on behalf of the Central Board, that I extend my sincere gratitude to our cadre of volunteers and supporters, who give so much of themselves to ensure the success of our programs.

Turning to the highlights of 2002 and 2003, we continued to build upon current programs and funded new projects, which in the context of a sluggish world economy placed a strain on AGBU's program budget. Nevertheless, while the economy slowed, the number of AGBU donors increased, enabling us to overcome our fiscal obstacles. Our program expenditures for the two-year period totaled nearly $57 million, which represents an increase of over $12.5 million when compared to 1992 and 1993. Also during the same 10-year period, AGBU's net assets increased by nearly $100 million. It is important to note, however, that as we continue to grow and expand, we must make a concerted effort to systematically increase our general revenue base. I am confident that the generosity of our donors will enable us to address the pressing and ever-changing needs of our global community for future generations, taking us well beyond the 21st century.

Since our last General Assembly, major center renovations have taken place at many of our chapters and schools, including AGBU institutions in Montreal, Canada; Watertown, Massachusetts; and Cordoba, Argentina: and our schools in Aleppo, Syria; Detroit, Michigan; and Canoga Park, California. In addition, AGBU launched the Karabakh Repopulation Centennial Project to help rebuild and repopulate the post-war region, expanded its Summer Intern Program to include France, funded the construction of clergy housing at Holy Etchmiadzin and a new church in southwest Yerevan.

Our summer camps continued to thrive with Camp Nubar in New York, Kessab Camp in Syria and Colonie de Vacances in France celebrating their 40th, 35th and 20th anniversaries respectively. Meanwhile, a network of 4,000 AGBU Young Professionals expanded their activities to include a co-sponsored event with the Whitney Museum of American Art in New York, the funding of American University of Armenia's digital library in Yerevan, and the establishment of an endowment for AGBU's Children's Centers. In addition, YP Committees were established in Montreal, Canada; Philadelphia, Pennsylvania; and Beirut, Lebanon.

Despite these successes, there is still much more work ahead of us. We must live up to our collective responsibilities of promoting and preserving our common heritage. Indeed, we must push ourselves to exceed expectations by recommitting our considerable energy, talent and resources to rejuvenating areas in need by ensuring that our chapters are active and vibrant, creating new initiatives in response to changing needs, and guaranteeing that our homeland and its citizens can thrive in a free and prosperous Armenia. As we look to the horizon, to our Centennial and beyond, I ask each and every one of you to consider what you can do today that will make a difference in the life of an Armenian tomorrow. Together, we can make certain that a hundred years from now, another President of AGBU will be reporting on AGBU's current activities and will take great pride, as I do, in knowing that there is a past filled with a rich history and a future filled with tremendous promise.

Berge Setrakian, AGBU President

Consolidated Statement of Financial Position

*These amounts represent book value as of 12/31/02 and 12/31/03. Total market value as of 12/31/02 and 12/31/03 are $147,363,586 and $179,321,950 respectively.

HIGHLIGHTS
Biennial Financial Report 10-year Comparative Totals

Yearly (*%) Increase/(Decrease)     10-year (**%)Increase/(Decrease)

All Figures are in U.S. Dollars.

Our Values

Strong core values that transcend time and place are an important part of Armenian culture. AGBU adopts these guiding principles to guarantee a bright future for all Armenians. Examples of these values in action in 2002 and 2003 were plentiful. All AGBU programs are a result of donor support and teamwork, proving that Armenians are eager and willing to help one other. The best is yet to come.

AGBU Chapter Chairpersons

ARGENTINA, Buenos Aires: Vahram Hairabedian. Cordoba: Juan Nourikhan. AUSTRALIA, Melbourne: Maral Tchorbadjian. Sydney: Aram Hagopian. AUSTRIA: Tamara Babayan-Bohdjalian. BELGIUM: Vartkess Knadjian. BRAZIL: Carlos Der Haroutounian. BULGARIA, Bourgas: Hagop Movsesian. Plovdiv: Roupen Chavoushian. Sofia: Sonia Avakian-Bedrossian. Varna: Vanuhi Arakelian. CANADA, Montreal: Boghos Kichian. Toronto: Hagop Altounian. Vancouver: Dickran Kuchukgozian. CYPRUS, Larnaca: Stepan Kamakian. Limassol: Merouj Sarkissian. Nicosia: Hratch Manoukian, Karekin Costanian. EGYPT, DISTRICT COMMITTEE OF EGYPT, Cairo: Berdj Terzian. Alexandria: Sarkis Vartzbedian. ENGLAND: Harout Aghajanian. London Trust: George Kurkjian. ETHIOPIA: Vahakn Karibian. FRANCE, DISTRICT COMMITTEE OF FRANCE: Denis Ketchedjian. Paris: Vahe Torossian, Richard Abdalian. Lyon: Serge Vartanian. Marseilles: Bernard Besoian. Nice-Cote D’Azur: Alain Kebabdjian. St-Chamond/St-Etienne: Edmond Anemian, Leonardo Basmadjian. Valence: Varoujan Varvarian. Vienne: Soukias Sukiassian. GREECE, Central Committee of Greece, Athens: Krikor Khatchadourian. Thessaloniki: Haigouhi Portukalian. IRAN: Rouben Ter-Poghossian. IRAQ: Hampartzoum Shehranian. ITALY: Haig Alexanian. LEBANON, DISTRICT COMMITTEE OF LEBANON, Beirut: Avedis Demirdjian. SOUTH AFRICA: Jacques Adanalian. SWITZERLAND: Taline Avakian. SYRIA, DISTRICT COMMITTEE OF SYRIA, Alepp0: Bedros Boyadjian, Melkon Shamamian. Damascus: Takvor Boyadjian. Kamishli: Meguerditch Yeghoyan. URUGUAY: Avedis Barsamian. USA, SOUTHERN CALIFORNIA DISTRICT COMMITTEE: Simon Simonian. Greater Fresno, CA: Berge Kalamkarian. Glendale/Pasadena, CA: Hagop Boyamian. Los Angeles Hye Geen, CA: Sona Yacoubian . Los Angeles Metro, CA: Alice Gondjian. Los Angeles Westside, CA: Sevan Varteressian. Oakland-San Francisco, CA: Ashkhen Mouradian. Orange County, CA: Krikor Mahdessian. Palms Springs, CA: Mary Beloian. San Diego, CA: Ani Kalayjian-Lanuza. San Fernando Valley, CA: Ara Aghishian. SCDC Ladies: Maral Yeranosian-Babian. Silicon Valley, CA: Yervant Zorian. Chicago, IL: Heratch Doumanian. Cleveland, OH: Sebouh Setrakian. Detroit, MI: Nadya Sarafian, David Terzibashian. Houston, TX: Sarkis Ohanian. NEW ENGLAND DISTRICT COMMITTEE, Boston: Souren Maserejian. Greater Boston Ladies, MA: Hamest Atamian. Providence Men, RI: William Aznavourian. Philadelphia, PA: Elizabeth Barone, Clara Samelian.

AGBU Board Officers and Directors

Berge Setrakian, President
Sarkis Demirdjian, Vice President
Arshavir Gundjian, Vice President
Nazar Nazarian, Treasurer and Vice Chairman
Joseph Basralian, Secretary
His Holiness Karekin II, Honorary Member, Catholicos of All Armenians
Louise Manoogian Simone, Chairman of the Board

M. Michael Ansour, Member, United States
Carol Bagdasarian Aslanian, Member, United States
Richard Manoogian, Member, United States
Benon Sevan,Member, Cyprus
Sam Simonian, Member, United States
Sinan Sinanian, Member, United States
Dickran Tevrizian, Member, United States
Edouard Jakhian, Member, Belgium
Levon Kebabdjian, Member, France
Karnig Yacoubian, Member, Syria

Haygachen Ouzounian
Barry Zorthian, Directors Emeriti

Boghos Nubar, Founder
Alex Manoogian, Honorary Life President, In Memoriam

AGBU President’s Club

Mr. and Mrs. Vartkess Balian, Co-chairs.

Young Professional Committees

CANADA, Montreal: Mark Sumbulian, Aida Setrakian. LEBANON, Beirut: Arpi Tanielian, Gacia Mardirian. SWITZERLAND, Geneva: Karineh Manaserian-Cattin. USA, Los Angeles, CA: Vrej Hovsepian, Anahid Andreassian. Orange County, CA: Natalie Balikciyan, Sella Tosyaliyan, Alis Polatyan. Northern California: Edward Minasian, Sarkis Soghomonian. Greater New York, NY: Natalie Gabrelian. Philadelphia, PA: Steve Odabashian.

AGBU Day & Saturday Schools

ARGENTINA, Buenos Aires: Marie Manoogian. AUSTRALIA, Sydney: Alexander Primary, Alex Manoogian Saturday School. BRAZIL, Sao Paolo: Paren & Regina Bazarian. BULGARIA, Dobrich: Saturday School. Haskovo: Saturday School. Plovdiv: Saturday School. Rouse: Saturday School. Silistra: Saturday School. Sliven: Saturday School. Yambol: Saturday School. CANADA, Montreal: Armen Quebec-Alex Manoogian. Toronto: Daniel & Alice Zaroukian. CYPRUS, Nicosia: Melkonian Educational Institute. FRANCE, Paris: Alex Manoogian Saturday School. GREECE, Athens: Artaki Kalpakian. IRAN, Teheran: Marie Manoogian, Nevart Gulbenkian. IRAQ, Baghdad: Pourasdan Friday School. LEBANON, Beirut: Boghos K. Garmirian, Tarouhy-Hovagimian Secondary, Levon G. Nazarian. SYRIA, Alepp0: Lazar Najarian-Calouste Gulbenkian. Damascus: Gullabi Gulbenkian. URUGUAY, Montevideo: Nubarian-Manoogian. USA, Canoga Park, CA: Manoogian-Demirdjian. Chicago, IL: Sisag H. Varjabedian Saturday School. Cleveland, OH: Saturday School. Cosa Mesa, CA: Saturday School. Southfield, MI: Alex and Marie Manoogian.

Mass Appeal

With 10 publications in five languages, AGBU reaches more Armenians than any organization.

The English-language AGBU NEWS (New York, USA) is the largest publication in Armenian history and reaches 80,000 homes around the world. Its sister publication, UGAB MAGAZINE (Paris, France), reaches an additional 20,000 French-speaking households.

The Armenian language HOOSHARAR (New York, USA) is the oldest AGBU publication and serves the Armenian-speaking community.

Other publications, like the Spanish-language GENERACION 3 (Buenos Aires, Argentina), the Armenian/Arabic KHOSNAG (Beirut, Lebanon), the Armenian/Arabic DEGHEGADOU (Cairo, Egypt), the Armenian/English MIOUTUNE (Sydney, Australia), the Armenian/English DESILK (Toronto, Canada), and the English-language ARARAT quarterly (New York, USA) serve international communities.

In addition to its own publications, AGBU actively supports other Armenian newspapers and publications, as well as the Writer’s Union of Armenia. In 2002, AGBU funded the translation and publication of Peter Balakian’s critically acclaimed best-seller, Black Dog of Fate.

Aware of the phenomenal growth of the internet and the role it plays increasingly in modern life, AGBU WEBSITES offer a global hub and sites like www.agbu.org, which are accessed by over 5,000 users each month and contain a variety of information to better inform donors, members and the public about the organization’s accomplishments.

Pride in Identity

The Armenian Identity is a rich tapestry of many colors, patterns and shapes. AGBU Chapters are the organization’s heart and soul and represent the vibrancy of each community’s commitment to their identity. Each community welcomes all Armenians to join together for a common purpose, like AGBU France’s ambitious Karabagh Repopulation Project, which is helping to rebuild the war-torn villages that remain abandoned from the 1988 to 1994 conflict with Azerbaijan. Spearheaded by AGBU Board Member, Levon Kebabdjian, with the support of the AGBU District Committee of France, the project has so far successfully reconstructed 22 houses in the village of Norashen. This project has been adopted by AGBU as one of its major centennial projects.

The District Committee of France also initiated an assistance program for the war widows and their children. This important endeavor provides each family two dairy cows and two calves to supplement their living expenses. AGBU chapters in Los Angeles and London have raised funds to support this program.

At AGBU camps in Bulgaria, France, Syria and the United States summers are a time for youth of Armenian heritage to come together and build friendships and memories that will last a lifetime. Each summer, 0ver a thousand campers take back to their families a new enthusiasm about their culture.

Over the past eight years, a young dynamic force has emerged under the auspices of AGBU—the Young Professionals (YP). AGBU YPs are a growing network of career-oriented Armenians interested in activities and events to enhance the social, professional and cultural lives of young Armenian professionals and the greater community.

Our Chapters are filled with grassroots cultural activists that strongly believe in adapting the Armenian culture to local needs. Support of the arts has always been crucial to AGBU’s mission. Many AGBU Chapters support dance troupes, choirs, theatre groups and other unique expressions of the local community’s interests. Productions like the Zvart operetta, performanced by the Los Angeles-based AGBU Ardavazt Theatre Group along with the Lark Musical Society, attracted 6,000 people and generated a ground swell of arts patronage for the group.

The Armenian Philharmonic Orchestra receives annual grants for weekly concerts, new instruments, administration, salary supplements, international guest artists and special festivals. The Philharmonic has successfully toured Europe, America and the Middle East and it has produced over a dozen CD recordings.

Respect for Heritage

Filled with the pride of our heritage, AGBU does not shy away from innovation to ensure that our culture and community grows and adapts.

AGBU’s programs are the result of typical Armenian values that incorporate integrity and respect for one another.

With a strong belief in faith, AGBU’s partnership with the Holy See of Etchmiadzin ensures that our common heritage survives for future generations. AGBU donors have funded the construction of the Outside Altar of Holy Etchmiadzin, clergy housing at the Holy See of Etchmiadzin, St. Sarkis Church and Holy Trinity Church in Yerevan, St. Hakop Church in Gyumri, St. Gregory of Narek in Vanadzor and St. Gregory the Illuminator Cathedral—the largest Armenian church in the world—also in the Armenian capital. An AGBU donor has also generously contributed to the construction of Vaskenian Theological Seminary on Lake Sevan.

Together, the Holy See and AGBU have partnered to run the AGBU Children’s Centers and AGBU Soup Kitchens. The Centers educate 3,500 students while the six Soup Kitchens—located in Etchmiadzin, Hrazdan, Sevan and Yerevan—serve over 1,200 pensioners and orphans daily.

Honing Excellence

There is no shortage of talent among Armenians. AGBU taps into each individuals’s ability and their desire to excel.

With 30 day & saturday schools in North and South America, Europe, the Middle East and Australia, over 6,500 students learn about their identity.

AGBU Manoogian-Demirdjian school in Canoga Park, CA, demonstrated that its academic instruction is second to none as members of the 2003-2004 class went on to study at the world’s most prestigious universities, including Harvard, Yale, Princeton, Columbia, MIT, UCLA, Stanford, and UC Berkeley.

Another AGBU school, Alex & Marie Manoogian in Southfield, Michigan, was applauded by The Detroit News newspaper which wrote that the school “stands by its mission to provide a quality education while enriching students about Armenian history.”

The AGBU L. Najarian-C. Gulbenkian school, with its 1,600 students, enjoyed modern new facilities through the generous donation of the Calouste Gulbenkian Foundation.

In addition to its own schools, AGBU also financially assists dozens of other Armenian schools.

During the 2002-2003 period, AGBU’s financial assistance totalled almost one million dollars enabling 1,119 scholarship and loan recipients in 30 countries to meet their educational goals.

AGBU also has other educational opportunities for young Armenians. The AGBU New York and Paris Summer Intern Programs welcome students from around the world to intern in medicine, law, journalism, banking, finance, government, media, education, public relations, finance, and international affairs. During these past two years, 67 students from 11 countries have enjoyed this once in a lifetime opportunity.

In Armenia, AGBU and the Holy See of Etchmiadzin joined forces over a decade ago to administer three Children’s Centers in Yerevan. The Nork, Arapkir and Malatya Centers provide instruction in the fields of history, language, computers, art, music, dance, crafts and gymnastics. All three centers include a chapel, weekly church services and Bible studies.

Believing in the potential for Armenia’s students to transform the country, AGBU was instrumental in the creation of the American University of Armenia (AUA) and funds projects at the Yerevan State University. Both institutions have thousands of well-educated alumni that are working to develop local industries and technologies to benefit Armenia.

Highlighting the medical potential of Armenia, AGBU, in partnership with the Jefferson Ultrasound Research and Education Institute of Philadelphia, Pennsylvania, has established the Ultrasound Center which offers the most up-to-date diagnostic clinical tools along with training courses, offered in conjunction with Yerevan State Medical University, that also attract foreign students from Russia, India, and China.

The donation of new equipment to the St. Nersess the Great Hospital in Yerevan strengthens a former gift to the Holy See of Etchmiadzin and builds on the existing medical infrastructure of the country.

Bringing Youth Together

Whether in Yerevan, New York, Sao Paolo, Beirut, Marseilles or Glendale, when AGBU youth come together to learn, mentor, volunteer, or socialize, new friendships are forged. Armenians can take pride that they all share a common past and are working hard to build a future together.

AGBU Generation Next mentors and staff have served over a hundred Armenian students ranging from the seventh to eleventh grades since 1997. Adult volunteers assist students with issues involving academics, behavioral challenges and acculturation. By providing positive role models, our volunteers help these young Armenians become responsible, self-sufficient young adults.
To keep Armenian youth connected to Armenia, two AGBU schools—Manoogian-Demirdjian (California) and Marie Manoogian (Buenos Aires)—organize annual trips to Armenia for their seniors. The experience is unforgettable and contributes to their pride in being Armenian.

AGBU Athletic Games nurture a healthy competitive environment that encourages camaraderie. Chapters from across Europe and South America come together for their regional games, while the AGBU World Games is a biennial event.

Another biennial affair, AGBU FOCUS brings together hundreds of AGBU Youth Program alumni and friends. Montreal hosted AGBU FOCUS 2003 and events included a panel discussion on Armenian volunteerism, a colorful exhibition of Children’s Art from AGBU Children’s Centers, and an elegant gala in Old Montreal.

One of the longest running AGBU youth initiatives is AYA Sports and Scouts, which have thousands of members on five continents.
Whatever their interest, young Armenians feel at home with AGBU.