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 2015

CHAIRMAN’S STATEMENT FOR 2015
 

Year 2015, our 15th year of operation was a good one for Orran.  We continued serving around 200 children a day by providing a daily hot meal, medical, social, psychological and educational services in our centers of Yerevan and Vanadzor.  We were able to continue our mission of helping the elderly as well as we ensured a hot meal a day for over 80 of them.  Our supporters continued helping us and we were able to win over new benefactors as well. 

Our two banquets one in Armenia and one in Los Angeles remain our big sources of income, thanks to our principal donor Viva-Cell MTS in Yerevan and the many individuals and corporations around the globe.  Net income from our two banquets amounted to $160,000 (Yerevan) and $115,000 (Los Angeles). We had an especially active group of volunteers from Armenia and abroad throughout the year who organized a Christmas campaign and gifted children with food baskets, winter shoes and jackets. 

However, many challenges are ahead of us.  The inflation of the country coupled with the events around the world drive more and more families into the clutches of poverty.  Whereas a few years ago, people were knocking on our door asking for help in procuring medicine or attaining an education, now people are coming to us asking for food.  With the assistance of Serj and Angela Tankian, 70 families outside of Orran in the city of Vanadzor were fortunate to get a package for the winter.  However, hundreds and thousands remain in desperate need.  One third of the population and growing are considered by state statistics to be very poor.  They need our help.  We are determined to be there for them in the year 2016 and for the years to come.  We hope you will be on our side to make sure we can. 

Audited accounts for 2015 for Orran Armenia show a surplus of income over expenditure equivalent to $7,050 US, at an exchange rate of 440 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 $66,488. This compares to an operating surplus of $190,622 in 2014 (400 AMD/US dollar). Total cash balances at year end amounted to $530,627 compared to $459,418 at the end of 2014, an increase of $71,209 US. Debtors from the two 4th Quarter galas amount to $133,500, 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 2015. These end of year cash reserves amounting to $530,627 are equivalent to 107% of our yearly operational funding requirement, and marginally above the one year criteria set by the Orran Board  

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 192 children and 83 elderly. Yerevan center at 142 is close to its maximum capacity of 150, whereas the Vanadzor center with 133 beneficiaries is marginally above its maximum capacity of 133. With a strong and committed staff in Yerevan and Vanadzor comprising of 20 full time, 24 part time and 51 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

1 September 2016

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

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

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