Armenian Educational Foundation

Much of the capital funds belonging to the Armenian Educational Foundation (AEF) derive from permanent endowments in the form of bequests and trusts, as well as donations. These generous contributions have enabled the AEF to maintain it sommitment to furthering the educational endeavors of Armenian youth and to provide financial assistance to Armenian Schools.

Bequests and Trusts

In general a bequest is some form of personal property passed on in a will. In a few instances, the AEF has benefited from living wills in which case the benefactor hands over monies or property while he or she is still alive. Over the years, the AEF has also set up trusts such that a given sum of money is placed in a high yield account with the AEF receiving the interest from that account as its Trustee. By definition, any money held in banks in trust cannot be invested for the purchase of property.

Establishing the organization's initial financial base were the following permanent endowments set up in the late 1950s:

the Levon and Sophia Hagopian Educational Trust Fund created with $260,000 from a donation of 80 acres of land in Fresno.

the Yervant and Felicia Kouyumjian and Kaloust and Virginia Torosian funds established with $25,000 and $35,000, respectively, to support specifically the Palandjian College (Jemaran) in Beirut, Lebanon.

the Van Der Bedrosian Memorial Fund formed with $275,000 from the living trust of Paul and Elizabeth Der Bedrosian.

Donations

The organization has also received numerous donations from individuals seeking to make tax-deductible contributions. These charitable gifts give the AEF spending flexibility and, in the past, have allowed the group to make income-generating property investments.

The most benevolent donation to be received by the AEF came from the Tracinda Corporation in 1986 when the organization received 60,000 shares of stock in the company. Soon after, these shares were redeemed for a cash value of $840,000. Also in 1986, Khachik and Margaret Shatikian donated $50,000, of which $25,000 helped to create the Modern Armenian History Chair at UCLA. Another noteworthy donation of $50,000 came in 1994 from Manoog and Yeghia Movsisian.

Today as always, the AEF is continually seeking ways to strengthen its financial base to generate the necessary capital to increase the funds available for scholarships and continue providing financial support to day schools.