Despite the worldwide financial turmoil, Orran continued enjoying the support of its generous donors whose contributions allowed Orran to provide for the needs of their ever more increasing number of beneficiaries.

Moreover, as a direct response to the world financial crisis, Orran received a $75,000 grant from the Open Society Institute OSI to open a small Orran center in the city of Vanadzor, based on rented premises. With an added contribution from VivaCell-MTS for $25,000, 55 needy children of Vanadzor received a hot meal, medical, tutorial, social and psychological services for the whole year.

The number of daily beneficiaries in Yerevan increased to 80 children and 60 elderly and a further 500 walk in beneficiaries per month were helped for takeout food and clothing. The children’s daily academic, vocational and social programs were augmented by a summer camp, a rich cultural agenda, and meetings with well known guests.

Plans to raise funds for building a new earthquake proof center in Vanadzor continued. A matching donor for the Krikor and Anna Krikorian contribution of $250,000 and for the sponsorship of individual rooms continued to be solicited and despite the global financial crisis, we are hopeful that sufficient funds will be raised to start this 2 to 3 year project before the end of 2010

Audited accounts for 2009 for Orran Armenia show a surplus of income over expenditure equivalent to $12,250 US, at an exchange rate of 300 amd/US dollar. However, these audited accounts are confined to the Armenian-registered charity and excludes the Orran affiliated institution in the United States which receives donations in that country including website donations and exports funds to Armenia as and
when needed.

When all donations are taken into account and excluding the restricted Vanadzor construction funds, the consolidated accounts show a surplus of income over expenditure of $96,350 US, thanks to the $117,000 US raised at the August Gala. This compares to an operating loss of $72,660 in 2008 (325 amd/US dollar) which was not helped by the fact that the $45,000 raised at the gala was directed
towards the launch of the Vanadzor construction project. Total cash balances at year end including the $129,000 restricted Vanadzor construction fund amounted to $374,775 compared to $276,100 at the end of $2008, an improvement of $98,675 US

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 most benefit. The global financial crisis has impacted on us as well with the number and the amount of donations decreasingly dramatically compared to the pre financial crisis. At the same time, the number of needy people knocking on our door has increased.

With a strong and committed staff of 8 full time and 14 part time and 25 volunteers and similar proportions at Vanadzor with 11 total personnel, Orran looks forward to the coming year to celebrate its decade of service in 2010.


Armine K. Hovannisian
Chairman, Board of Directors

More detailed "Financial statements as of and for the year ended December 31, 2009"
For news about our recent fundraising events please refer to our latest newsletter.