Contact Us

E-mail:

orran@orran.am

Orran
Yerevan:

6 First Yekmalyan street,
375002 Yerevan, Armenia

Phone:

+374 10 53 51 67

Fax:

+374 10 53 86 72

 

Orran
Vanadzor:

4/1 Tigran Metz Avenue,
2001 Vanadzor, Armenia

Phone:

+374 32 24 55 98

Audited Accounts for 2016

CHAIRMAN’S STATEMENT FOR 2016

As we conclude 2016 and embark on another year of deep commitment to “helping families in need”, we can proudly state that Orran is a benchmark charity in the Republic of Armenia.  In the passing year, with the generous contribution of our donors across the globe, we were able to assist hundreds of children with a daily hot meal, medical, social, psychological and tutorial services.   

Our two banquets, one in Armenia and one in Los Angeles, remain our major sources of income at close to 60% of our operating costs, thanks to our many individuals and corporations around the globe.  Net income from our two banquets amounted close to $40,000 (Yerevan) and $158,250 (Los Angeles). We are most grateful for all the members of our fund raising committees, over a dozen in each location, who dedicated their time and energy to host the 2 fund raising events

Thanks also to our expanded list of corporate donors, our youth took part in apprenticeship workshops and  made headways in all sorts of competitions ranging from sports to culture.  The children planted trees, put on a performance, learned different skills,  and some even took part in the April war and became heroes. 

No matter what the battle:   poverty, ignorance, illiteracy, sickness or outside threats,  we are there to ensure a safe and a  bright future for the children of Armenia. 

Audited accounts for 2016 for Orran Armenia show a surplus of income over expenditure equivalent to $81,238 US, at an exchange rate of 480 AMD/US dollar. These audited accounts refer to the Armenian-registered charity only and excludes the Orran affiliated institution in the United States which receives donations in the US in addition to the website donations and subsequently transfers funds to Armenia as and when needed.

The consolidated management accounts including donations received in the USA are on a cash basis and show a surplus of income over expenditure of $206,020. This compares to an operating surplus of $200,000 in 2015 (440 AMD/US dollar). Total cash balances at year end amounted to $715,470 compared to $530,627 at the end of 2015, an increase of $184,843 US. Cumulative debtors from the two 4th Quarter fund raising galas amount to $8,035, and due to the short time frame till year end, no debt provisions have been made for outstanding pledges which had not been collected by year end 2016. These end of year cash reserves amounting to $715,470 are equivalent to 214% of our yearly operational funding requirement, and well above the one year minimum criteria set by the Orran Board

In summary, our operating costs over the last 3 years amount to $335k, $430k, and $460k in 2014. This equates to $2.98 per beneficiary per day. Our operating surplus over the last 3 years amount to $206k, $200k, and $191k in 2014. We are pleased to report, and in line with past years, we strive to maintain our administration and marketing costs below 10% of our operating costs   

We are constantly looking for ways to improve our services and to make sure that each $1 is spent in the most efficient way resulting in the greatest benefit. The global financial crisis continues to pose major challenges for securing funds for our operating budgets. At the same time, the number of needy people knocking on our door has increased.

At year end the beneficiaries at our 2 centers included 228 children and 80 elderly, totaling 308. Yerevan center at 164 beneficiaries is marginally above its nominal capacity of 150, and the Vanadzor center with 144 beneficiaries is also marginally above its nominal capacity of 133. With a strong and committed staff in Yerevan and Vanadzor comprising of 15 full time, 28 part time and 47 volunteers, Orran looks forward to the coming year for continuing its mission in “helping families in need”, all this depending of course on the continuing generosity of our donors

Overall and despite the global financial crisis, it has again been a fantastic year for Orran and for this we are most grateful to our donors. 

 

Armine K. Hovannisian
Chairman, Board of Directors

17 November, 2017

For a complete set of Orran Armenia Audited Accounts, click here

For a complete set of Orran USA 2016 IRS filed accounts, click here